Tenaga Nasional Berhad (5347.KL) stock analysis

In our weekly check, Tenaga Nasional Berhad is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 7, red flags: 4.

About Tenaga Nasional Berhad

Tenaga Nasional Berhad is an Utilities company (Regulated Electric), listed on KLS as 5347.KL.

What our checks show for 5347.KL

Red flags

• Revenue fell 1.4% a year over the last 3 years.
• Free cash flow is negative (-3.4% of revenue): the business spends more cash than it brings in.
• Recovering from its deepest fall took about 4.7 years.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Net debt is 4.1x a year of EBITDA (debt/equity 1.8). That limits room in a downturn and raises refinancing risk.
• Operating profit covers interest only 2.5 times: a weak year could make the payments hard.
• The net margin fell by 0.5 points over 5 years, to 6.5%: the company keeps less of each sale as profit.
• Analysts expect only about 2.7% a year of growth in revenue.
• The net margin is only 6.5%: little room if costs rise.
• The stock has fallen as much as 54% from a peak. Would you have held through that?
• Return on capital (ROCE) is only 5.9%.

Strengths

• The gross margin is 35.2% and has risen by 8.4 points: pricing power is holding.
• Operating cash flow is 3.19x net profit: the profit arrives as real cash.
• A large company: market value $18.99 billion.
• The price moves calmly: 14.8% annual volatility.
• Beta 0.33: the stock usually moves less than the market.
• Actively traded: about 7.2 million shares a day.

Next earnings report: 2026-11-19

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Questions

What grade does Tenaga Nasional Berhad (5347.KL) have?

In our weekly check, Tenaga Nasional Berhad is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 7, red flags: 4. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 5347.KL stock?

This week's biggest flags for Tenaga Nasional Berhad: Weak revenue growth, Weak free cash flow, Slow recovery after falls. In total 11 of 25 checks show a warning or a red flag.

What does Tenaga Nasional Berhad do?

Tenaga Nasional Berhad is an Utilities company (Regulated Electric), listed on KLS as 5347.KL.

When does Tenaga Nasional Berhad report earnings next?

The next earnings report is expected on 2026-11-19. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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