Tenaga Nasional Bhd (XKLS:5347) ROCE %: 6.26% (As of Mar. 2026)


XKLS:5347 Tenaga Nasional Bhd XKLS:5347
84 GF Score
Price RM14.38
GF Value RM14.90
Valuation Fairly Valued
! 7 Warning Signs
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What is Tenaga Nasional Bhd ROCE %?

Tenaga Nasional Bhd XKLS:5347 -0.14% 84 ROCE % is 6.26% as of Mar. 2026. GuruFocus rates XKLS:5347 with a GF Score™ of 84/100 and a GF Value™ of RM14.90 (Fairly Valued). The stock has 7 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Tenaga Nasional Bhd's annualized ROCE % for the quarter that ended in Mar. 2026 was 6.26%.

Tenaga Nasional Bhd  (XKLS:5347) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Tenaga Nasional Bhd ROCE % Related Terms

Tenaga Nasional Bhd ROCE % Historical Data

* Premium members only.

The historical data trend for Tenaga Nasional Bhd's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Tenaga Nasional Bhd ROCE % Chart

Tenaga Nasional Bhd Annual Data
Trend Aug16 Aug17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.55 5.99 4.71 6.20 6.34

Tenaga Nasional Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.01 5.94 5.22 6.92 6.26
XKLS:5347
84GF Score
Tenaga Nasional Bhd XKLS:5347
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Tenaga Nasional Bhd ROCE % Calculation

Tenaga Nasional Bhd's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=10225/( ( (200380.4 - 39805.6) + (198354.5 - 36587.9) )/ 2 )
=10225/( (160574.8+161766.6)/ 2 )
=10225/161170.7
=6.34 %

Tenaga Nasional Bhd's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=10182.4/( ( (198354.5 - 36587.9) + (202818.6 - 39226) )/ 2 )
=10182.4/( ( 161766.6 + 163592.6 )/ 2 )
=10182.4/162679.6
=6.26 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 6.26% mean?
Tenaga Nasional Bhd (XKLS:5347) has a ROCE % of 6.26% as of Mar. 2026.
Is Tenaga Nasional Bhd's ROCE % too high?
Tenaga Nasional Bhd's current ROCE % is 6.26%. The Utilities - Regulated industry median ROCE % is 6.95. Tenaga Nasional Bhd's value of 6.26% is 9.9% below this industry median. Overall, Tenaga Nasional Bhd has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tenaga Nasional Bhd's ROCE % compare to NEE and SO?
Tenaga Nasional Bhd's ROCE % of 6.26% can be compared against companies in the Utilities - Regulated industry. The industry median ROCE % is 6.95. Tenaga Nasional Bhd's value of 6.26% is 9.9% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for an Utilities - Regulated company?
The median ROCE % among Utilities - Regulated companies is 6.95, based on 505 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tenaga Nasional Bhd's current ROCE % of 6.26% is 9.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Utilities - Regulated industry, the median ROCE % is 6.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tenaga Nasional Bhd's current ROCE % is 6.26%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tenaga Nasional Bhd stock overvalued right now?
Based on GuruFocus' analysis, Tenaga Nasional Bhd (XKLS:5347) is currently considered Fairly Valued. The stock's GF Value™ is RM14.90, compared to a current price of RM14.38 — trading 3.5% below its estimated fair value. The current ROCE % is 6.26% and 9.9% below the Utilities - Regulated industry median of 6.95. Tenaga Nasional Bhd's overall GF Score™ is 84/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Tenaga Nasional Bhd (XKLS:5347), the current ROCE % is 6.26% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Tenaga Nasional Bhd (XKLS:5347) Overvalued in 2026?

Based on GuruFocus' analysis, Tenaga Nasional Bhd stock appears to be undervalued. The current stock price of RM14.38 is trading 3.5% below its estimated GF Value™ of RM14.90. GuruFocus considers Tenaga Nasional Bhd to be Fairly Valued.

Key valuation signals for XKLS:5347:

  • ROCE %: 6.26%
  • GF Value™: RM14.90 vs. price of RM14.38 (3.5% below fair value)
  • GF Score™: 84/100 with 7 warning signs
  • Industry Position: 9.9% below the Utilities - Regulated median

No single metric tells the full story. See the XKLS:5347 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Tenaga Nasional Bhd Business Description

Other Exchanges TNABY:USATNABF:USA
Address No. 3, Jalan Bukit Pantai, Tingkat 16, Tower A, TNB Platinum, Pejabat Setiausaha Syarikat, Bangsar, Kuala Lumpur, SGR, MYS, 59100
Tenaga Nasional Bhd is an electric utility company in Malaysia. The company is involved in the generation, transmission, distribution, and retail of electricity. TNB segments includes Power Generation, Grid, Distribution Network, and Retail. The company encompasses the company's portfolio of thermal and hydroelectric power plants located throughout Malaysia. Through its subsidiaries, TNB also engages in other energy-related operations, such as the manufacturing of transformers. The company generates maximum revenue through the sale of electricity in Malaysia. Its customers are mainly commercial operations, residential consumers, and large industrial entities.
84GF Score

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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

RM14.38
Price
RM14.90
GF Value