TENAGA NASIONAL BHD ADR (TNABY) BALANCE SHEET

Fiscal year ends in August. MYR in millions except 2012- 2013- 2014- 2015- 2016-
per share data. 08 08 08 08 08
Assets
Current assets
Cash
Cash and cash equivalents 8626 9531 8112 2471 3971
Short-term investments 9 10 3646 6438 13199
Total cash 8635 9541 11759 8910 17170
Inventories 2842 2878 887 844 792
Prepaid expenses 664 92 153 150
Other current assets 7204 7377 7270 8889 8642
Total current assets 18681 20459 20008 18795 26755
Property, plant and equipment
Gross property, plant and equipment 125587
Accumulated Depreciation -51614
Net property, plant and equipment 64770 73974 83045 90300 96513
Intangible assets 211
Deferred income taxes 5 15 23 31
Other long-term assets 5018 4593 7597 8017 9392
Total non-current assets 69788 78572 90658 98340 106147
Total assets 88469 99031 110665 117135 132902
Liabilities and stockholders' equity
Liabilities
Current liabilities
Short-term debt 1176 2480 1986 1489
Capital leases 631 652 679 662
Taxes payable 331 781 56 72 51
Other current liabilities 8998 8292 10276 12855 13883
Total current liabilities 9330 10880 13464 15592 16084
Non-current liabilities
Long-term debt 21468 22014 22976 22713 32818
Capital leases 1339 5634 6137 6029 5287
Deferred taxes liabilities 8285 6431 6716 7054 6962
Deferred revenues 2291 5538 1642 1425 5717
Minority interest 261 274 237 259 211
-
Other long-term liabilities 42973 13142 16271 16855 13435
Total non-current liabilities -9330 53034 53980 54335 64430
Total liabilities 63913 67443 69927 80514
stockholders' equity
Additional paid-in capital 4529 5382 5382 5382 5382
Retained earnings 25458 29601 37232 41599 47330
Accumulated other comprehensive income 6150 134 607 227 -324
Total stockholders' equity 36137 35117 43222 47208 52389
Total liabilities and stockholders' equity 36137 99031 110665 117135 132902
TENAGA NASIONAL BHD ADR (TNABY) INCOME STATEMENT
Fiscal year ends in August. MYR in millions except per share 2012- 2013- 2014- 2015- 2016-
data. 08 08 08 08 08 TTM
Revenue 35848 37131 42792 43287 44532 46190
Cost of revenue 28887 28613 33317 32390 32243
Gross profit 6962 8518 9476 10897 12289 46190
Operating expenses
Other operating expenses 2705 3249 2948 3094 3924 5574
Total operating expenses 2705 3249 2948 3094 3924 5574
Operating income 4256 5268 6527 7803 8364 40616
Interest Expense 823 1258 977 1377
-
Other income (expense) 2104 587 587 588 680 31237
Income before income taxes 5537 5856 7115 7134 8067 8002
Provision for income taxes 1331 1225 688 1073 746 1088
Net income from continuing operations 4206 4631 6427 6061 7321 6914
Other -9 -16 40 58 47 33
Net income 4198 4614 6467 6118 7368 6947
Net income available to common shareholders 4198 4614 6467 6118 7368 6947
Earnings per share
Basic 3.07 3.31 4.58 4.34 5.22 4.91
Diluted 3.07 3.31 4.58 4.34 5.21 4.91
Weighted average shares outstanding
Basic 1366 1393 1411 1411 1411 1414
Diluted 1370 1395 1411 1411 1415 1415
EBITDA 10628 10459 12054 13686 14766 9378
Calculation for;

Common Stock (Market Value) Ratios:

1. Earnings per (Net income available to common stockholders)/

share (EPS) (# stock outstanding)

6 118 000 / 1 411 000

= RM 4.34

2. Price earnings Market price of common stock/ EPS

ratio (PER)
11.18 / 4.34

= 2.58 times
3. Dividends per Amount of dividend paid to shareholders/ #
share (DPS) stock outstanding

1 638 000 / 1 411 000

= 1.16
4. Dividend Amount of dividend paid to shareholders/net
payout ratio income available to common stockholders
(DPR)
Or

DPS/EPS

= 1.16 / 4.34

= 22.9 %

5. Dividend yield (DPS / market price per share ) x 100%

1.16 / 11.18

= 10.37 %
6. Book value per Total common equity/# shares outstanding
share
47 208 000 / 1 411 000
= 33.46
7. Price to book Market price per share/book value per share
value
11.18 / 33.46

= RM 0.33
8. Retained (1-DPR)
 earnings ratio
(retention ratio) 1 - 22.9

= (21.9)

Profitability Ratios and Return on Investment Ratios:

1. Net profit margin Net Income After Tax/Net Sales

(NPM)
= 6 118 000 / 43 287 000

= 14.13
2. Return on equity (Net Income After Tax-Preferred Shares
(ROE) Dividend)/Total Common Equity

6 118 000 / 4 720 800

= 13.53
3. Return on investment Net Income After Tax/Total Assets
(ROI)
6 118 000 / 117 135 000

= 5.37%

Activity Ratios:

1. Total Annual Sales/Total Assets

Assets
Turnover 43 287 000 / 117 135 000

= 38.00 %

Leverage and Capital Structure Ratios:

1. Debt To Long-Term Debt/Total Common

Equity Equity
Ratios
(DER) 22 713 000 / 4 720 800

= 4.81 %
2. Times EBIT/Interest expenses
interest
earned
(TIE) 7 134 000 / 1 258

= RM 5 670.90