3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Tenaga Nasional Bhd's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 2.03%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Tenaga Nasional Bhd's 3-Year ROIIC % or its related term are showing as below:
XKLS:5347's 3-Year ROIIC % is ranked worse than 59.24% of 476
companies
in the Utilities - Regulated industry
Industry Median: 3.99
vs XKLS:5347: 2.03
Tenaga Nasional Bhd (XKLS:5347) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Tenaga Nasional Bhd 3-Year ROIIC % Related Terms
Tenaga Nasional Bhd 3-Year ROIIC % Historical Data
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The historical data trend for Tenaga Nasional Bhd's 3-Year ROIIC % 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.
XKLS:5347 vs NEE, SO, DUK: 3-Year ROIIC % Comparison
For the Utilities - Regulated Electric subindustry, Tenaga Nasional Bhd's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tenaga Nasional Bhd 3-Year ROIIC % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Tenaga Nasional Bhd's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Tenaga Nasional Bhd's 3-Year ROIIC % falls into.
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Tenaga Nasional Bhd (XKLS:5347) has a 3-Year ROIIC % of 2.03 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Tenaga Nasional Bhd and its competitors. According to the industry distribution chart, Tenaga Nasional Bhd ranks #282 out of 476 companies in the Utilities - Regulated industry, placing it in the top 59.2%.
Is Tenaga Nasional Bhd's 3-Year ROIIC % too high?
Tenaga Nasional Bhd's current 3-Year ROIIC % is 2.03. The Utilities - Regulated industry median 3-Year ROIIC % is 3.99. Tenaga Nasional Bhd's value of 2.03 is 49.1% below this industry median. Based on the distribution chart, Tenaga Nasional Bhd ranks #282 out of 476 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Tenaga Nasional Bhd has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tenaga Nasional Bhd's 3-Year ROIIC % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Tenaga Nasional Bhd ranks #282 out of 476 companies for 3-Year ROIIC %. This places Tenaga Nasional Bhd in the lower half of its industry. The industry median 3-Year ROIIC % is 3.99. Tenaga Nasional Bhd's value of 2.03 is 49.1% 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 3-Year ROIIC % for an Utilities - Regulated company?
The median 3-Year ROIIC % among Utilities - Regulated companies is 3.99, based on 476 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tenaga Nasional Bhd's current 3-Year ROIIC % of 2.03 is 49.1% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Tenaga Nasional Bhd and its competitors. For the Utilities - Regulated industry, the median 3-Year ROIIC % is 3.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tenaga Nasional Bhd's current 3-Year ROIIC % is 2.03. 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 RM14.91, compared to a current price of RM14.30 — trading 4.1% below its estimated fair value. The current 3-Year ROIIC % is 2.03 and 49.1% below the Utilities - Regulated industry median of 3.99. Tenaga Nasional Bhd's overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Tenaga Nasional Bhd (XKLS:5347), the current 3-Year ROIIC % is 2.03 as of Dec. 2025. 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 RM14.30 is trading 4.1% below its estimated GF Value™ of RM14.91.
GuruFocus considers Tenaga Nasional Bhd to be Fairly Valued.
Key valuation signals for XKLS:5347:
3-Year ROIIC %: 2.03
GF Value™: RM14.91 vs. price of RM14.30 (4.1% below fair value)
Industry Position: 49.1% below the Utilities - Regulated median (#282 of 476)
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 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.
83GF Score
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