Tenaga Nasional Bhd (5347) - Net Assets

Latest as of December 2025: RM52.97 Billion MYR ≈ $13.30 Billion USD

Based on the latest financial reports, Tenaga Nasional Bhd (5347) has net assets worth RM52.97 Billion MYR (≈ $13.30 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM198.35 Billion ≈ $49.80 Billion USD) and total liabilities (RM145.38 Billion ≈ $36.50 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check 5347 cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	RM52.97 Billion
% of Total Assets	26.71%
Annual Growth Rate	6.1%
5-Year Change	-9.28%
10-Year Change	0.71%
Growth Volatility	9.52

Tenaga Nasional Bhd - Net Assets Trend (2005–2025)

This chart illustrates how Tenaga Nasional Bhd's net assets have evolved over time, based on quarterly financial data. Also explore 5347 asset base for the complete picture of this company's asset base.

Annual Net Assets for Tenaga Nasional Bhd (2005–2025)

The table below shows the annual net assets of Tenaga Nasional Bhd from 2005 to 2025. For live valuation and market cap data, see 5347 company net worth.

Year	Net Assets	Change
2025-12-31	RM52.97 Billion ≈ $13.30 Billion	-15.34%
2024-12-31	RM62.57 Billion ≈ $15.71 Billion	+2.39%
2023-12-31	RM61.11 Billion ≈ $15.34 Billion	+0.24%
2022-12-31	RM60.97 Billion ≈ $15.31 Billion	+4.41%
2021-12-31	RM58.39 Billion ≈ $14.66 Billion	+1.64%
2020-12-31	RM57.45 Billion ≈ $14.42 Billion	-3.09%
2019-12-31	RM59.28 Billion ≈ $14.88 Billion	+0.39%
2018-12-31	RM59.05 Billion ≈ $14.83 Billion	+2.55%
2017-12-31	RM57.58 Billion ≈ $14.46 Billion	+9.48%
2016-12-31	RM52.60 Billion ≈ $13.21 Billion	+10.81%
2015-12-31	RM47.47 Billion ≈ $11.92 Billion	+9.22%
2014-12-31	RM43.46 Billion ≈ $10.91 Billion	+22.80%
2013-12-31	RM35.39 Billion ≈ $8.89 Billion	-2.77%
2012-12-31	RM36.40 Billion ≈ $9.14 Billion	+20.24%
2011-12-31	RM30.27 Billion ≈ $7.60 Billion	+5.06%
2010-12-31	RM28.81 Billion ≈ $7.23 Billion	+10.63%
2009-12-31	RM26.05 Billion ≈ $6.54 Billion	+1.10%
2008-12-31	RM25.76 Billion ≈ $6.47 Billion	+6.91%
2007-12-31	RM24.10 Billion ≈ $6.05 Billion	+23.28%
2006-12-31	RM19.55 Billion ≈ $4.91 Billion	+20.65%
2005-12-31	RM16.20 Billion ≈ $4.07 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Tenaga Nasional Bhd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 471.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	RM45.87 Billion	90.32%
Common Stock	RM12.81 Billion	25.22%
Total Equity	RM50.79 Billion	100.00%

Tenaga Nasional Bhd Competitors by Market Cap

The table below lists competitors of Tenaga Nasional Bhd ranked by their market capitalization.

Company	Market Cap
Banco Santander (Brasil) S.A. SA:SANB11	$21.29 Billion
Shanghai Precise Packaging Co Ltd SHE:300442	$21.30 Billion
Gold Circuit Electronics Ltd TW:2368	$21.31 Billion
Northern Star Resources Limited F:NS7	$21.35 Billion
Equifax Inc NYSE:EFX	$21.28 Billion
MasTec Inc NYSE:MTZ	$21.27 Billion
Bank of Nanjing Co Ltd SHG:601009	$21.26 Billion
CRRC Corp Ltd Class A SHG:601766	$21.25 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Tenaga Nasional Bhd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 60,371,100,000 to 50,789,500,000, a change of -9,581,600,000 (-15.9%).
Net income of 4,768,100,000 contributed positively to equity growth.
Dividend payments of 2,968,700,000 reduced retained earnings.
Other comprehensive income increased equity by 6,962,900,000.
Other factors decreased equity by 18,343,900,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	RM4.77 Billion	+9.39%
Dividends Paid	RM2.97 Billion	-5.85%
Other Comprehensive Income	RM6.96 Billion	+13.71%
Other Changes	RM-18.34 Billion	-36.12%
Total Change	RM-	-15.87%

Book Value vs Market Value Analysis

This analysis compares Tenaga Nasional Bhd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.67x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 3.80x to 1.67x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-12-31	RM3.83	RM14.54	x
2006-12-31	RM3.62	RM14.54	x
2007-12-31	RM4.40	RM14.54	x
2008-12-31	RM4.73	RM14.54	x
2009-12-31	RM4.79	RM14.54	x
2010-12-31	RM5.28	RM14.54	x
2011-12-31	RM5.53	RM14.54	x
2012-12-31	RM6.60	RM14.54	x
2013-12-31	RM6.29	RM14.54	x
2014-12-31	RM7.66	RM14.54	x
2015-12-31	RM8.36	RM14.54	x
2016-12-31	RM9.26	RM14.54	x
2017-12-31	RM10.05	RM14.54	x
2018-12-31	RM10.16	RM14.54	x
2019-12-31	RM10.20	RM14.54	x
2020-12-31	RM9.76	RM14.54	x
2021-12-31	RM9.85	RM14.54	x
2022-12-31	RM10.13	RM14.54	x
2023-12-31	RM10.15	RM14.54	x
2024-12-31	RM10.38	RM14.54	x
2025-12-31	RM8.72	RM14.54	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Tenaga Nasional Bhd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 9.39%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 7.04%
• Asset Turnover: 0.34x
• Equity Multiplier: 3.91x
Recent ROE (9.39%) is above the historical average (9.35%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	8.22%	6.97%	0.30x	3.95x	RM-285.75 Million
2006	11.13%	10.60%	0.31x	3.35x	RM219.18 Million
2007	16.95%	17.44%	0.34x	2.82x	RM1.67 Billion
2008	10.14%	10.10%	0.37x	2.72x	RM34.68 Million
2009	3.28%	2.96%	0.40x	2.74x	RM-1.75 Billion
2010	11.11%	10.55%	0.41x	2.57x	RM319.41 Million
2011	1.68%	1.57%	0.43x	2.47x	RM-2.51 Billion
2012	11.62%	11.71%	0.41x	2.45x	RM583.87 Million
2013	13.14%	12.43%	0.37x	2.82x	RM1.10 Billion
2014	14.96%	15.11%	0.39x	2.56x	RM2.14 Billion
2015	12.96%	14.13%	0.37x	2.48x	RM1.40 Billion
2016	14.06%	16.54%	0.34x	2.54x	RM2.13 Billion
2017	12.09%	14.56%	0.33x	2.49x	RM1.19 Billion
2018	6.44%	7.39%	0.33x	2.66x	RM-2.06 Billion
2019	7.81%	8.89%	0.28x	3.08x	RM-1.27 Billion
2020	6.43%	8.17%	0.24x	3.25x	RM-1.99 Billion
2021	6.47%	6.96%	0.29x	3.23x	RM-2.00 Billion
2022	5.92%	4.73%	0.36x	3.52x	RM-2.39 Billion
2023	4.71%	5.22%	0.26x	3.48x	RM-3.11 Billion
2024	7.78%	8.28%	0.28x	3.40x	RM-1.34 Billion
2025	9.39%	7.04%	0.34x	3.91x	RM-310.85 Million

Industry Comparison

This section compares Tenaga Nasional Bhd's net assets metrics with peer companies in the Utilities - Regulated Electric industry.

Industry Context

Industry: Utilities - Regulated Electric
Average net assets among peers: $1,711,888,000
Average return on equity (ROE) among peers: 8.98%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Tenaga Nasional Bhd (5347)	RM52.97 Billion	8.22%	2.74x	$21.28 Billion
Mega First Corporation Bhd (3069)	$1.71 Billion	8.98%	0.70x	$733.42 Million

About Tenaga Nasional Bhd

KLSE:5347 Malaysia Utilities - Regulated Electric

Market Cap

$21.28 Billion

RM84.76 Billion MYR

Market Cap Rank

#1200 Global

#3 in Malaysia

Share Price

RM14.54

Change (1 day)

-0.41%

52-Week Range

RM12.50 - RM14.90

All Time High

RM14.94