(TEN) Tenaris S.A - Overview
Stock: Steel Pipes, Casings, Tubing, Line Pipes, Connections
| Risk 5d forecast | |
|---|---|
| Volatility | 37.9% |
| Relative Tail Risk | -13.0% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.96 |
| Alpha | 23.16 |
| Character TTM | |
|---|---|
| Beta | 0.247 |
| Beta Downside | 0.717 |
| Drawdowns 3y | |
|---|---|
| Max DD | 31.56% |
| CAGR/Max DD | 0.55 |
EPS (Earnings per Share)
Revenue
Description: TEN Tenaris S.A February 19, 2026
Tenaris S.A. (MI:TEN) is a Luxembourg-incorporated, Techint-controlled steel-pipe manufacturer that serves the global energy sector and a broad range of industrial markets. Its product portfolio spans seamless and welded casings, tubing, line pipe, and specialty cold-drawn tubing for oil-field drilling, production, and downstream transport, as well as mechanical-structural pipes, premium joints, coiled tubing, and related services such as coating and hydraulic-fracturing support.
According to Tenaris’ FY 2023 results (released March 2024), the company generated ≈ $13.5 billion in revenue, with an adjusted EBITDA margin of ~15 % and free cash flow of $1.2 billion after $1.0 billion of capex. Net debt stood at $6.8 billion, yielding a net-debt-to-EBITDA ratio of ≈ 3.0×. The pipe-demand index for oil-field services, a leading sector driver, rose 4 % YoY in 2023, reflecting higher upstream capital spending as oil prices averaged $85 /barrel (EIA). A key macro-risk is the sensitivity of casing and tubing volumes to sustained oil-price volatility and the pace of global energy transition, which could compress margins if upstream investment slows.
Given Tenaris’ exposure to both traditional hydrocarbon infrastructure and emerging industrial applications, tracking its debt-service coverage and the evolution of global pipe-demand forecasts will be critical; a deeper dive on ValueRay can help surface those forward-looking metrics.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 2.00b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -4.58 > 1.0 |
| NWC/Revenue: 59.70% < 20% (prev 55.02%; Δ 4.68% < -1%) |
| CFO/TA 0.10 > 3% & CFO 1.99b > Net Income 2.00b |
| Net Debt (-219.6m) to EBITDA (2.85b): -0.08 < 3 |
| Current Ratio: 4.08 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.04b) vs 12m ago -6.31% < -2% |
| Gross Margin: 34.05% > 18% (prev 0.36%; Δ 3369 % > 0.5%) |
| Asset Turnover: 56.87% > 50% (prev 61.94%; Δ -5.06% > 0%) |
| Interest Coverage Ratio: 59.67 > 6 (EBITDA TTM 2.85b / Interest Expense TTM 40.0m) |
Altman Z'' 10.00
| A: 0.35 (Total Current Assets 9.36b - Total Current Liabilities 2.29b) / Total Assets 20.47b |
| B: 0.87 (Retained Earnings 17.73b / Total Assets 20.47b) |
| C: 0.11 (EBIT TTM 2.39b / Avg Total Assets 20.80b) |
| D: 5.53 (Book Value of Equity 17.73b / Total Liabilities 3.21b) |
| Altman-Z'' Score: 11.67 = AAA |
Beneish M -2.90
| DSRI: 1.17 (Receivables 2.46b/2.33b, Revenue 11.83b/13.09b) |
| GMI: 1.07 (GM 34.05% / 36.35%) |
| AQI: 1.00 (AQ_t 0.23 / AQ_t-1 0.23) |
| SGI: 0.90 (Revenue 11.83b / 13.09b) |
| TATA: 0.00 (NI 2.00b - CFO 1.99b) / TA 20.47b) |
| Beneish M-Score: -2.90 (Cap -4..+1) = A |
What is the price of TEN shares?
Over the past week, the price has changed by +16.58%, over one month by +27.69%, over three months by +34.06% and over the past year by +29.52%.
Is TEN a buy, sell or hold?
What are the forecasts/targets for the TEN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 19 | -18% |
| Analysts Target Price | - | - |
TEN Fundamental Data Overview February 18, 2026
Market Cap USD = 24.76b (21.00b EUR * 1.1789 EUR.USD)
P/E Trailing = 13.2038
P/E Forward = 15.9236
P/S = 1.7749
P/B = 1.4688
P/EG = 4.5743
Revenue TTM = 11.83b USD
EBIT TTM = 2.39b USD
EBITDA TTM = 2.85b USD
Long Term Debt = 2.25m USD (from longTermDebt, last quarter)
Short Term Debt = 325.3m USD (from shortLongTermDebt, last quarter)
Debt = 327.6m USD (Calculated: Short Term 325.3m + Long Term 2.25m)
Net Debt = -219.6m USD (calculated as Total Debt 327.6m - CCE 547.2m)
Enterprise Value = 24.54b USD (24.76b + Debt 327.6m - CCE 547.2m)
Interest Coverage Ratio = 59.67 (Ebit TTM 2.39b / Interest Expense TTM 40.0m)
EV/FCF = 16.42x (Enterprise Value 24.54b / FCF TTM 1.49b)
FCF Yield = 6.09% (FCF TTM 1.49b / Enterprise Value 24.54b)
FCF Margin = 12.63% (FCF TTM 1.49b / Revenue TTM 11.83b)
Net Margin = 16.91% (Net Income TTM 2.00b / Revenue TTM 11.83b)
Gross Margin = 34.05% ((Revenue TTM 11.83b - Cost of Revenue TTM 7.80b) / Revenue TTM)
Gross Margin QoQ = 34.65% (prev 34.74%)
Tobins Q-Ratio = 1.20 (Enterprise Value 24.54b / Total Assets 20.47b)
Interest Expense / Debt = 2.94% (Interest Expense 9.64m / Debt 327.6m)
Taxrate = 27.50% (171.7m / 624.3m)
NOPAT = 1.73b (EBIT 2.39b * (1 - 27.50%))
Current Ratio = 4.08 (Total Current Assets 9.36b / Total Current Liabilities 2.29b)
Debt / Equity = 0.02 (Debt 327.6m / totalStockholderEquity, last quarter 17.04b)
Debt / EBITDA = -0.08 (Net Debt -219.6m / EBITDA 2.85b)
Debt / FCF = -0.15 (Net Debt -219.6m / FCF TTM 1.49b)
Total Stockholder Equity = 16.85b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.61% (Net Income 2.00b / Total Assets 20.47b)
RoE = 11.87% (Net Income TTM 2.00b / Total Stockholder Equity 16.85b)
RoCE = 14.18% (EBIT 2.39b / Capital Employed (Equity 16.85b + L.T.Debt 2.25m))
RoIC = 10.06% (NOPAT 1.73b / Invested Capital 17.21b)
WACC = 6.77% (E(24.76b)/V(25.08b) * Re(6.83%) + D(327.6m)/V(25.08b) * Rd(2.94%) * (1-Tc(0.28)))
Discount Rate = 6.83% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -0.74%
[DCF Debug] Terminal Value 77.33% ; FCFF base≈1.90b ; Y1≈1.32b ; Y5≈679.9m
Fair Price DCF = 16.91 (EV 16.86b - Net Debt -219.6m = Equity 17.08b / Shares 1.01b; r=6.77% [WACC]; 5y FCF grow -35.60% → 2.90% )
EPS Correlation: -13.91 | EPS CAGR: 8.20% | SUE: 0.23 | # QB: 0
Revenue Correlation: 24.39 | Revenue CAGR: 10.37% | SUE: 0.32 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.41 | Chg30d=-0.007 | Revisions Net=-1 | Analysts=3
EPS next Year (2026-12-31): EPS=1.73 | Chg30d=-0.004 | Revisions Net=+1 | Growth EPS=-3.0% | Growth Revenue=+0.5%