TEN Stock Analysis: Tenaris S.A | MI
Oil & Gas Equipment & Services | MI, Italy | Market Cap: 23.878m EUR | 12M Return: 53.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 30.2M
EPS Trend: -87.1%
Qual. Beats: 1
Rev. Trend: -93.3%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Tenaris S.A. is a global manufacturer and supplier of steel pipe products and related services, primarily serving the energy industry (oil and gas) alongside other industrial applications. Its product range spans the full OCTG (Oil Country Tubular Goods) value chain, including casings, tubing, line pipes, and premium connections marketed under the TenarisHydril brand, as well as coiled tubing, sucker rods, and pipe coating services. The company also produces cold-drawn pipes for boilers, heat exchangers, and automotive components, and is involved in energy/raw materials trading, intellectual property licensing, and financial operations.
Operating across North America, South America, Europe, the Middle East, Africa, and Asia Pacific, Tenaris runs a capital-intensive manufacturing model built around both welded and seamless steel pipe production. Demand for its core products is closely tied to global drilling and completion activity, making the business cyclical and sensitive to oil and gas capital expenditure trends. Headquartered in Luxembourg and incorporated in 2001, the company operates as a subsidiary of Techint Holdings S.àr.l., part of the Techint industrial group.
- North American shale rig count drives OCTG sales volumes
- Steel raw material costs squeeze seamless pipe margins
- Middle East offshore project awards lift line pipe backlog
| Net Income: 1.97b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -1.18 > 1.0 |
| NWC/Revenue: 59.90% < 20% (prev 58.49%; Δ 1.40% < -1%) |
| CFO/TA 0.12 > 3% & CFO 2.40b > Net Income 1.97b |
| Net Debt (-1.01b) to EBITDA (2.80b): -0.36 < 3 |
| Current Ratio: 4.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.01b) vs 12m ago -5.82% < -2% |
| Gross Margin: 34.29% > 18% (prev 34.01%; Δ 0.28% > 0.5%) |
| Asset Turnover: 59.12% > 50% (prev 58.22%; Δ 0.90% > 0%) |
| Interest Coverage Ratio: 49.59 > 6 (EBIT TTM 2.32b / Interest Expense TTM 46.9m) |
| A: 0.36 (Total Current Assets 9.60b - Total Current Liabilities 2.32b) / Total Assets 20.5b |
| B: 0.90 (Retained Earnings 18.4b / Total Assets 20.5b) |
| C: 0.11 (EBIT TTM 2.32b / Avg Total Assets 20.6b) |
| D: 5.40 (Book Value of Equity 17.1b / Total Liabilities 3.17b) |
| Altman-Z'' = 11.68 = AAA |
| DSRI: 1.07 (Receivables 2.19b/2.02b, Revenue 12.2b/12.0b) |
| GMI: 0.99 (GM 34.01% / 34.29%) |
| AQI: 0.93 (AQ_t 0.22 / AQ_t-1 0.24) |
| SGI: 1.01 (Revenue 12.2b / 12.0b) |
| TATA: -0.02 (NI 1.97b - CFO 2.40b) / TA 20.5b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of July 14, 2026, the stock is trading at EUR 24.13 with a total of 985,002 shares traded. Over the past week, the price has changed by +1.90%, over one month by -11.03%, over three months by -4.36% and over the past year by +53.29%.
Current recommended Stop Loss: 23.20 (which is 3.9% or 1.6 ATR below the current price).
Tenaris S.A has no consensus analysts rating.
Market Cap USD = 27.2b (23.9b EUR * 1.14 EUR.USD)
P/E Trailing = 14.1617
P/E Forward = 17.8571
P/S = 1.9662
P/B = 1.5927
P/EG = 3.108
Revenue TTM = 12.2b USD
EBIT TTM = 2.32b USD
EBITDA TTM = 2.80b USD
Long Term Debt = 360k USD (from longTermDebt, last quarter)
Short Term Debt = 331.1m USD (from shortLongTermDebt, last quarter)
Debt = 142.1m USD (Leases only: 142.1m)
Net Debt = -1.01b USD (calculated: Debt 142.1m - CCE 1.15b)
Enterprise Value = 26.2b USD (27.2b + Debt 142.1m - CCE 1.15b)
Interest Coverage Ratio = 49.59 (Ebit TTM 2.32b / Interest Expense TTM 46.9m)
EV/FCF = 14.26x (Enterprise Value 26.2b / FCF TTM 1.84b)
FCF Yield = 7.01% (FCF TTM 1.84b / Enterprise Value 26.2b)
FCF Margin = 15.12% (FCF TTM 1.84b / Revenue TTM 12.2b)
Net Margin = 16.17% (Net Income TTM 1.97b / Revenue TTM 12.2b)
Gross Margin = 34.29% ((Revenue TTM 12.2b - Cost of Revenue TTM 7.99b) / Revenue TTM)
Gross Margin QoQ = 33.87% (prev 33.89%)
Tobins Q-Ratio = 1.28 (Enterprise Value 26.2b / Total Assets 20.5b)
Interest Expense / Debt = 32.98% (Interest Expense 46.9m / Debt 142.1m)
Taxrate = 20.56% (522.8m / 2.54b)
NOPAT = 1.85b (EBIT 2.32b * (1 - 20.56%))
Current Ratio = 4.15 (Total Current Assets 9.60b / Total Current Liabilities 2.32b)
Debt / Equity = 0.01 (Debt 142.1m / totalStockholderEquity, last quarter 17.1b)
Debt / EBITDA = -0.36 (Net Debt -1.01b / EBITDA 2.80b)
Debt / FCF = -0.55 (Net Debt -1.01b / FCF TTM 1.84b)
Total Stockholder Equity = 16.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.56% (Net Income 1.97b / Total Assets 20.5b)
RoE = 11.69% (Net Income TTM 1.97b / Total Stockholder Equity 16.8b)
RoCE = 13.80% (EBIT 2.32b / Capital Employed (Equity 16.8b + L.T.Debt 360k))
RoIC = 10.49% (NOPAT 1.85b / Invested Capital 17.6b)
WACC = 8.45% (E(27.2b)/V(27.4b) * Re(8.36%) + D(142.1m)/V(27.4b) * Rd(32.98%) * (1-Tc(0.21)))
Discount Rate = 8.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -37.80 | Cagr: -0.17%
[DCF] Terminal Value 73.23% ; FCFF base≈1.94b ; Y1≈1.75b ; Y5≈1.49b
[DCF] Fair Price = 24.20 (EV 23.4b - Net Debt -1.01b = Equity 24.4b / Shares 1.01b; r=8.45% [WACC]; 5y FCF grow -12.09% → 2.50% )
EPS Correlation: -87.12 | EPS CAGR: -23.42% | SUE: 0.84 | # QB: 1
Revenue Correlation: -93.26 | Revenue CAGR: -9.51% | SUE: 0.85 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.42 | Chg30d=-0.12% | Revisions=-17% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.49 | Chg30d=+2.46% | Revisions=+50% | Analysts=3
EPS current Year (2026-12-31): EPS=1.90 | Chg30d=+0.00% | Revisions=+50% | GrowthEPS=+3.9% | GrowthRev=+2.3%
EPS next Year (2027-12-31): EPS=2.09 | Chg30d=+1.08% | Revisions=+64% | GrowthEPS=+10.0% | GrowthRev=+4.1%
[Analyst] Revisions Ratio: +58% (up=23, down=5)