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Tenaga Nasional Valuation Multiples

Discover revenue and EBITDA valuation multiples for Tenaga Nasional and similar public comparables like APA Group, AGL Energy, and Chrysos Corp..

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 its operations into a generation division, a transmission division, and a distribution division. 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

Malaysia
Employees

34.9K+

Website

tnb.com.my

Sectors

Utilities

Financials

LTM Revenue $13.2B

LTM EBITDA $4.5B

EV

$33.3B

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Tenaga Nasional Financials

Tenaga Nasional has a last 12-month revenue of $13.2B and a last 12-month EBITDA of $4.5B.

In the most recent fiscal year, Tenaga Nasional achieved revenue of $13.0B and an EBITDA of $4.9B.

Tenaga Nasional expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Tenaga Nasional P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $12.1B $13.0B XXX XXX XXX
Gross Profit -$1.9B $475M XXX XXX XXX
Gross Margin -15% 4% XXX XXX XXX
EBITDA $4.4B $4.9B XXX XXX XXX
EBITDA Margin 36% 37% XXX XXX XXX
Net Profit $792M $633M XXX XXX XXX
Net Margin 7% 5% XXX XXX XXX
Net Debt $13.6B $9.9B XXX XXX XXX

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Tenaga Nasional Stock Performance

As of April 25, 2025, Tenaga Nasional's stock price is MYR 14 (or $3).

Tenaga Nasional has current market cap of MYR 79.0B (or $18.1B), and EV of MYR 146B (or $33.3B).

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Tenaga Nasional Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$33.3B $18.1B XXX XXX XXX XXX $0.18

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Tenaga Nasional Valuation Multiples

As of April 25, 2025, Tenaga Nasional has market cap of $18.1B and EV of $33.3B.

Tenaga Nasional's trades at 2.5x LTM EV/Revenue multiple, and 7.3x LTM EBITDA.

Analysts estimate Tenaga Nasional's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Tenaga Nasional Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $33.3B XXX XXX XXX
EV/Revenue 2.6x XXX XXX XXX
EV/EBITDA 6.9x XXX XXX XXX
P/E 16.8x XXX XXX XXX
P/E/Growth 4.8x XXX XXX XXX
EV/FCF 13.0x XXX XXX XXX

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Tenaga Nasional Valuation Multiples

Tenaga Nasional's NTM/LTM revenue growth is 5%

Tenaga Nasional's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged -$15K for the same period.

Over next 12 months, Tenaga Nasional's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Tenaga Nasional's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Tenaga Nasional Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 7% XXX XXX XXX XXX
EBITDA Margin 37% XXX XXX XXX XXX
EBITDA Growth 11% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 42% XXX XXX XXX XXX
Revenue per Employee $0.4M XXX XXX XXX XXX
Opex per Employee -$15K XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 5% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue -4% XXX XXX XXX XXX

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Tenaga Nasional Public Comps

See public comps and valuation multiples for Utilities comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
TAQA XXX XXX XXX XXX XXX XXX
New Sources Energy XXX XXX XXX XXX XXX XXX
AGL Energy XXX XXX XXX XXX XXX XXX
APA Group XXX XXX XXX XXX XXX XXX
Chrysos Corp. XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Tenaga Nasional M&A and Investment Activity

Tenaga Nasional acquired  XXX companies to date.

Last acquisition by Tenaga Nasional was  XXXXXXXX, XXXXX XXXXX XXXXXX . Tenaga Nasional acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Tenaga Nasional

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About 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 34.9K+ employees.
Who is the CEO of Tenaga Nasional? Tenaga Nasional's CEO is Mr. Megat Jalaluddin Megat Hassan.
Is Tenaga Nasional publicy listed? Yes, Tenaga Nasional is a public company listed on KLS.
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? Similar companies to Tenaga Nasional include e.g. TAQA, New Sources Energy, AGL Energy, APA Group.
What is the current market cap of Tenaga Nasional? Tenaga Nasional's current market cap is $18.1B
What is the current revenue of Tenaga Nasional? Tenaga Nasional's last 12-month revenue is $13.2B.
What is the current EBITDA of Tenaga Nasional? Tenaga Nasional's last 12-month EBITDA is $4.5B.
What is the current EV/Revenue multiple of Tenaga Nasional? Current revenue multiple of Tenaga Nasional is 2.5x.
What is the current EV/EBITDA multiple of Tenaga Nasional? Current EBITDA multiple of Tenaga Nasional is 7.3x.
What is the current revenue growth of Tenaga Nasional? Tenaga Nasional revenue growth between 2023 and 2024 was 7%.
Is Tenaga Nasional profitable? Yes, Tenaga Nasional is EBITDA-positive (as of the last 12 months).

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