Update shared on 01 Dec 2025
Fair value Decreased 1.29%Analysts have revised their price target for Tenaga Nasional Berhad slightly downward from RM16.16 to RM15.95. This adjustment reflects updated estimates for profit margin and discount rates, even though there are expectations for stronger revenue growth.
What's in the News
- Tenaga Nasional Berhad received notices of additional tax assessments totaling more than MYR 1.39 billion for the years of assessment 2020 and 2021 from the Inland Revenue Board of Malaysia (Key Developments).
- On 18 September 2025, the High Court acknowledged TNB’s withdrawal of its Judicial Review application concerning these tax notices (Key Developments).
- TNB has submitted a new application for tax incentives under Schedule 7B of the Income Tax Act 1967 following guidance from a Federal Court decision (Key Developments).
Valuation Changes
- The consensus analyst price target has decreased modestly from MYR 16.16 to MYR 15.95.
- The discount rate has risen slightly from 8.87% to 9.23%.
- Revenue growth projections have increased from 3.30% to 4.15%.
- The net profit margin has declined marginally from 7.38% to 7.25%.
- The future P/E ratio is slightly lower, moving from 23.31x to 23.07x.
Disclaimer
AnalystConsensusTarget is a tool utilizing a Large Language Model (LLM) that ingests data on consensus price targets, forecasted revenue and earnings figures, as well as the transcripts of earnings calls to produce qualitative analysis. The narratives produced by AnalystConsensusTarget are general in nature and are based solely on analyst data and publicly-available material published by the respective companies. These scenarios are not indicative of the company's future performance and are exploratory in nature. Simply Wall St has no position in the company(s) mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. The price targets and estimates used are consensus data, and do not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that AnalystConsensusTarget's analysis may not factor in the latest price-sensitive company announcements or qualitative material.