Tenaga Nasional Berhad
Tenaga Nasional Berhad engages in the generation, transmission, distribution, and sale of electricity in Malaysia, the United Kingdom, Kuwait, the Republic of Ireland, Australia, and internationally. It operates and maintains thermal and hydroelectric power plants; and operates and manages the National Grid that is connected to Thailand's transmission system, as well as Singapore's transmission s… Read more
Tenaga Nasional Berhad (TNABY) - Net Assets
Latest net assets as of December 2025: $52.97 Billion USD
Based on the latest financial reports, Tenaga Nasional Berhad (TNABY) has net assets worth $52.97 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 ($198.35 Billion) and total liabilities ($145.38 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $52.97 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 Berhad - Net Assets Trend (2005–2025)
This chart illustrates how Tenaga Nasional Berhad's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tenaga Nasional Berhad (2005–2025)
The table below shows the annual net assets of Tenaga Nasional Berhad from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $52.97 Billion | -15.34% |
| 2024-12-31 | $62.57 Billion | +2.39% |
| 2023-12-31 | $61.11 Billion | +0.24% |
| 2022-12-31 | $60.97 Billion | +4.41% |
| 2021-12-31 | $58.39 Billion | +1.64% |
| 2020-12-31 | $57.45 Billion | -3.09% |
| 2019-12-31 | $59.28 Billion | +0.39% |
| 2018-12-31 | $59.05 Billion | +2.55% |
| 2017-12-31 | $57.58 Billion | +9.48% |
| 2016-12-31 | $52.60 Billion | +10.81% |
| 2015-12-31 | $47.47 Billion | +9.22% |
| 2014-12-31 | $43.46 Billion | +22.80% |
| 2013-12-31 | $35.39 Billion | -2.77% |
| 2012-12-31 | $36.40 Billion | +20.24% |
| 2011-12-31 | $30.27 Billion | +5.06% |
| 2010-12-31 | $28.81 Billion | +10.63% |
| 2009-12-31 | $26.05 Billion | +1.10% |
| 2008-12-31 | $25.76 Billion | +6.91% |
| 2007-12-31 | $24.10 Billion | +23.28% |
| 2006-12-31 | $19.55 Billion | +20.65% |
| 2005-12-31 | $16.20 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tenaga Nasional Berhad'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 | $45.87 Billion | 90.32% |
| Common Stock | $12.81 Billion | 25.22% |
| Total Equity | $50.79 Billion | 100.00% |
Tenaga Nasional Berhad Competitors by Market Cap
The table below lists competitors of Tenaga Nasional Berhad ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Victory Giant Technology Huizhou Co Ltd
SHE:300476
|
$21.35 Billion |
|
MPLX LP
NYSE:MPLX
|
$21.35 Billion |
|
Woolworths Group Limited
PINK:WOLWF
|
$21.36 Billion |
|
Veolia Environnement S.A
PINK:VEOEF
|
$21.41 Billion |
|
Wolters Kluwer N.V
PINK:WOLTF
|
$21.33 Billion |
|
Epiroc AB Series A
LSE:0YSU
|
$21.31 Billion |
|
MongoDB
NASDAQ:MDB
|
$21.31 Billion |
|
Hexagon AB (publ)
PINK:HXGBF
|
$21.13 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tenaga Nasional Berhad'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 | $4.77 Billion | +9.39% |
| Dividends Paid | $2.97 Billion | -5.85% |
| Other Comprehensive Income | $6.96 Billion | +13.71% |
| Other Changes | $-18.34 Billion | -36.12% |
| Total Change | $- | -15.87% |
Book Value vs Market Value Analysis
This analysis compares Tenaga Nasional Berhad'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: 0.36x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 0.82x to 0.36x 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 | $15.30 | $12.50 | x |
| 2006-12-31 | $14.47 | $12.50 | x |
| 2007-12-31 | $17.60 | $12.50 | x |
| 2008-12-31 | $18.94 | $12.50 | x |
| 2009-12-31 | $19.17 | $12.50 | x |
| 2010-12-31 | $21.11 | $12.50 | x |
| 2011-12-31 | $22.10 | $12.50 | x |
| 2012-12-31 | $26.39 | $12.50 | x |
| 2013-12-31 | $25.17 | $12.50 | x |
| 2014-12-31 | $30.63 | $12.50 | x |
| 2015-12-31 | $33.46 | $12.50 | x |
| 2016-12-31 | $37.02 | $12.50 | x |
| 2017-12-31 | $40.21 | $12.50 | x |
| 2018-12-31 | $40.63 | $12.50 | x |
| 2019-12-31 | $40.78 | $12.50 | x |
| 2020-12-31 | $39.03 | $12.50 | x |
| 2021-12-31 | $39.41 | $12.50 | x |
| 2022-12-31 | $40.54 | $12.50 | x |
| 2023-12-31 | $40.59 | $12.50 | x |
| 2024-12-31 | $41.56 | $12.50 | x |
| 2025-12-31 | $34.89 | $12.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tenaga Nasional Berhad 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 | $-285.75 Million |
| 2006 | 11.13% | 10.60% | 0.31x | 3.35x | $219.18 Million |
| 2007 | 16.95% | 17.44% | 0.34x | 2.82x | $1.67 Billion |
| 2008 | 10.14% | 10.10% | 0.37x | 2.72x | $34.68 Million |
| 2009 | 3.28% | 2.96% | 0.40x | 2.74x | $-1.75 Billion |
| 2010 | 11.11% | 10.55% | 0.41x | 2.57x | $319.41 Million |
| 2011 | 1.68% | 1.57% | 0.43x | 2.47x | $-2.51 Billion |
| 2012 | 11.62% | 11.71% | 0.41x | 2.45x | $583.87 Million |
| 2013 | 13.14% | 12.43% | 0.37x | 2.82x | $1.10 Billion |
| 2014 | 14.96% | 15.11% | 0.39x | 2.56x | $2.14 Billion |
| 2015 | 12.96% | 14.13% | 0.37x | 2.48x | $1.40 Billion |
| 2016 | 14.06% | 16.54% | 0.34x | 2.54x | $2.13 Billion |
| 2017 | 12.09% | 14.56% | 0.33x | 2.49x | $1.19 Billion |
| 2018 | 6.44% | 7.39% | 0.33x | 2.66x | $-2.06 Billion |
| 2019 | 7.81% | 8.89% | 0.28x | 3.08x | $-1.27 Billion |
| 2020 | 6.43% | 8.17% | 0.24x | 3.25x | $-1.99 Billion |
| 2021 | 6.47% | 6.96% | 0.29x | 3.23x | $-2.00 Billion |
| 2022 | 5.92% | 4.73% | 0.36x | 3.52x | $-2.39 Billion |
| 2023 | 4.71% | 5.22% | 0.26x | 3.48x | $-3.11 Billion |
| 2024 | 7.78% | 7.14% | 0.32x | 3.40x | $-1.34 Billion |
| 2025 | 9.39% | 7.04% | 0.34x | 3.91x | $-310.85 Million |
Industry Comparison
This section compares Tenaga Nasional Berhad's net assets metrics with peer companies in the Utilities - Regulated Electric industry.
Industry Context
- Industry: Utilities - Regulated Electric
- Average net assets among peers: $19,749,720,789
- Average return on equity (ROE) among peers: 9.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tenaga Nasional Berhad (TNABY) | $52.97 Billion | 8.22% | 2.74x | $21.35 Billion |
| Aboitiz Equity Ventures Inc (ABOIF) | $21.34 Billion | 14.80% | 0.79x | $1.55 Billion |
| Ameren Corp (AEE) | $4.55 Billion | 11.50% | 2.12x | $30.51 Billion |
| American Electric Power Co Inc (AEP) | $26.99 Billion | 10.99% | 2.82x | $71.56 Billion |
| Avangrid Inc (AGR) | $500.50 Million | 10.07% | 2.97x | $2.56 Billion |
| Central Puerto S.A. (CEPU) | $4.66 Billion | 28.55% | 1.05x | $2.49 Billion |
| CLP Holdings Ltd (CLPHY) | $125.97 Billion | 9.20% | 0.86x | $14.34 Billion |
| CMS Energy Corporation (CMS) | $2.46 Billion | 11.28% | 5.30x | $23.53 Billion |
| CenterPoint Energy Inc (CNP) | $8.35 Billion | -9.26% | 3.01x | $27.76 Billion |
| The Connecticut Light and Power Company (CNTHP) | $2.55 Billion | -9.96% | 3.94x | $506.99K |
| Caribbean Utilities Company Ltd (CUPUF) | $133.72 Million | 17.09% | 1.34x | $224.77 Million |