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Tenaga Nasional Valuation Multiples
Discover revenue and EBITDA valuation multiples for Tenaga Nasional and similar public comparables like CK Infrastructure Holdings, Sabesp, Evergy, EDP Group and more.
Tenaga Nasional Overview
About Tenaga Nasional
Tenaga Nasional Bhd, or TNB, is an electric utility company in Malaysia. The company is involved in the generation, transmission, distribution, and sale of electricity. TNB segments includes Power Generation, Grid, Distribution Network, and Retail. The generation division 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 and the providing of consulting services. The company generates revenue through the sale of electricity in West Malaysia. Its customers are mainly commercial operations, domestic consumers, and large industrial entities.
Founded
1990
HQ
Employees
34.9K
Website
Sectors
Financials (LTM)
EV
$40B
Tenaga Nasional Financials
Tenaga Nasional reported last 12-month revenue of $17B and EBITDA of $5B.
In the same LTM period, Tenaga Nasional generated $5B in gross profit, $5B in EBITDA, and $1B in net income.
Revenue (LTM)
Tenaga Nasional P&L
In the most recent fiscal year, Tenaga Nasional reported revenue of $17B and EBITDA of $5B.
Tenaga Nasional expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $17B | XXX | $17B | XXX | XXX | XXX |
| Gross Profit | $5B | XXX | — | XXX | XXX | XXX |
| Gross Margin | 29% | XXX | — | XXX | XXX | XXX |
| EBITDA | $5B | XXX | $5B | XXX | XXX | XXX |
| EBITDA Margin | 30% | XXX | 30% | XXX | XXX | XXX |
| EBIT Margin | 13% | XXX | 13% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 7% | XXX | 7% | XXX | XXX | XXX |
| Net Debt | — | — | $11B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Tenaga Nasional Stock Performance
Tenaga Nasional has current market cap of $21B, and enterprise value of $40B.
Market Cap Evolution
Tenaga Nasional's stock price is $3.55.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $40B | $21B | 0.1% | XXX | XXX | XXX | $0.21 |
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Tenaga Nasional trades at 2.3x EV/Revenue multiple, and 7.6x EV/EBITDA.
EV / Revenue (LTM)
Tenaga Nasional Financial Valuation Multiples
As of April 8, 2026, Tenaga Nasional has market cap of $21B and EV of $40B.
Equity research analysts estimate Tenaga Nasional's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Tenaga Nasional has a P/E ratio of 17.2x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $21B | XXX | $21B | XXX | XXX | XXX |
| EV (current) | $40B | XXX | $40B | XXX | XXX | XXX |
| EV/Revenue | 2.3x | XXX | 2.3x | XXX | XXX | XXX |
| EV/EBITDA | 7.6x | XXX | 7.7x | XXX | XXX | XXX |
| EV/EBIT | 17.4x | XXX | 17.9x | XXX | XXX | XXX |
| EV/Gross Profit | 8.1x | XXX | — | XXX | XXX | XXX |
| P/E | 17.2x | XXX | 17.3x | XXX | XXX | XXX |
| EV/FCF | 63.7x | XXX | 74.4x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Tenaga Nasional Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Tenaga Nasional Margins & Growth Rates
Tenaga Nasional's revenue in the last 12 month declined by (1%).
Tenaga Nasional's revenue per employee in the last FY averaged $0.5M, while opex per employee averaged $0.4M for the same period.
Tenaga Nasional's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Tenaga Nasional's rule of X is 35% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Tenaga Nasional Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | (1%) | XXX | (2%) | XXX | XXX | XXX |
| EBITDA Margin | 30% | XXX | 30% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | 6% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 33% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 35% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 85% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Tenaga Nasional Public Comps
See public comps and valuation multiples for other Utilities comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| CK Infrastructure Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Sabesp | XXX | XXX | XXX | XXX | XXX | XXX |
| Evergy | XXX | XXX | XXX | XXX | XXX | XXX |
| EDP Group | XXX | XXX | XXX | XXX | XXX | XXX |
| EDP Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Tenaga Nasional M&A Activity
Tenaga Nasional acquired XXX companies to date.
Last acquisition by Tenaga Nasional was on XXXXXXXX, XXXXX. Tenaga Nasional acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Tenaga Nasional
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialTenaga Nasional Investment Activity
Tenaga Nasional invested in XXX companies to date.
Tenaga Nasional made its latest investment on XXXXXXXX, XXXXX. Tenaga Nasional invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Tenaga Nasional
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Tenaga Nasional
| When was Tenaga Nasional founded? | Tenaga Nasional was founded in 1990. |
| Where is Tenaga Nasional headquartered? | Tenaga Nasional is headquartered in Malaysia. |
| How many employees does Tenaga Nasional have? | As of today, Tenaga Nasional has over 34K employees. |
| Who is the CEO of Tenaga Nasional? | Tenaga Nasional's CEO is Megat Jalaluddin Megat Hassan. |
| Is Tenaga Nasional publicly listed? | Yes, Tenaga Nasional is a public company listed on Bursa Malaysia. |
| What is the stock symbol of Tenaga Nasional? | Tenaga Nasional trades under 5347 ticker. |
| When did Tenaga Nasional go public? | Tenaga Nasional went public in 1992. |
| Who are competitors of Tenaga Nasional? | Tenaga Nasional main competitors are CK Infrastructure Holdings, Sabesp, Evergy, EDP Group. |
| What is the current market cap of Tenaga Nasional? | Tenaga Nasional's current market cap is $21B. |
| What is the current revenue of Tenaga Nasional? | Tenaga Nasional's last 12 months revenue is $17B. |
| What is the current revenue growth of Tenaga Nasional? | Tenaga Nasional revenue growth (NTM/LTM) is (1%). |
| What is the current EV/Revenue multiple of Tenaga Nasional? | Current revenue multiple of Tenaga Nasional is 2.3x. |
| Is Tenaga Nasional profitable? | Yes, Tenaga Nasional is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Tenaga Nasional? | Tenaga Nasional's last 12 months EBITDA is $5B. |
| What is Tenaga Nasional's EBITDA margin? | Tenaga Nasional's last 12 months EBITDA margin is 30%. |
| What is the current EV/EBITDA multiple of Tenaga Nasional? | Current EBITDA multiple of Tenaga Nasional is 7.6x. |
| What is the current FCF of Tenaga Nasional? | Tenaga Nasional's last 12 months FCF is $624M. |
| What is Tenaga Nasional's FCF margin? | Tenaga Nasional's last 12 months FCF margin is 4%. |
| What is the current EV/FCF multiple of Tenaga Nasional? | Current FCF multiple of Tenaga Nasional is 63.7x. |
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