Overview Dividends

(TS) Tenaris - Ratings and Ratios

Exchange: NYSE • Country: Luxembourg • Currency: USD • Type: Common Stock • ISIN: US88031M1099

Steel Pipes, Casings, Tubing, Line Pipes, Premium Connections

TS EPS (Earnings per Share)

EPS Growth (3Y CAGR): -15.71%
EPS Trend (3Y Correlation): -62.7%

TS Revenue

Revenue Growth (3Y CAGR): 1.34%
Revenue Trend (3Y Correlation): -57.3%

Risk via 10d forecast
Volatility	28.3%
Value at Risk 5%th	43.3%

Reward
Sharpe Ratio	0.46
Alpha Jensen	-1.12

Character
Hurst Exponent	0.499
Beta	1.148

Drawdowns 3y
Max DD	30.72%
Mean DD	10.73%

Description: TS Tenaris October 16, 2025

Tenaris S.A. (NYSE: TS) manufactures and supplies a broad portfolio of steel pipe products and related services primarily for the energy sector, covering casings, tubing, line pipes, mechanical/structural pipes, cold-drawn tubes, premium joints, coiled tubing, sucker rods, and pipe-coating solutions. The company also offers ancillary activities such as energy and raw-material sales, IP licensing, procurement and trading services, and automotive components, operating across North America, South America, Europe, the Middle East & Africa, and Asia-Pacific.

According to Tenaris’ FY 2023 results (the most recent audited figures available as of Q3 2024), revenue reached $10.7 billion, up ≈ 5 % YoY, driven by higher oil-field services volumes and a modest rebound in offshore drilling activity. EBITDA margin stabilized around 14 % despite elevated raw-material costs, while capex remained focused on expanding the seamless-pipe capacity in the United States and Brazil. Key economic drivers include global crude-oil demand growth (≈ 2 % annual increase projected by the IEA through 2028) and the ongoing need for high-specification pipe in both conventional and unconventional projects, whereas the energy transition creates upside for premium-grade, low-carbon-emission steel solutions.

For a deeper quantitative breakdown of Tenaris’ valuation metrics and scenario analysis, you may find the ValueRay platform useful.

TS Stock Overview

Market Cap in USD	20,748m
Sub-Industry	Oil & Gas Equipment & Services
IPO / Inception	2002-12-16
Return 12m vs S&P 500	1.51%
Analyst Rating	3.82 of 5

TS Dividends

Dividend Yield	4.05%
Yield on Cost 5y	13.40%
Yield CAGR 5y	17.63%
Payout Consistency	92.8%
Payout Ratio	44.6%

TS Growth Ratios

CAGR	10.20%
CAGR/Max DD Calmar Ratio	0.33
CAGR/Mean DD Pain Ratio	0.95
Current Volume	990k
Average Volume	1252.3k

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (2.00b TTM) > 0 and > 6% of Revenue (6% = 706.1m TTM)

FCFTA 0.09 (>2.0%) and ΔFCFTA -6.18pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 55.02% (prev 49.65%; Δ 5.37pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.13 (>3.0%) and CFO 2.59b > Net Income 2.00b (YES >=105%, WARN >=100%)

Net Debt (-99.9m) to EBITDA (2.95b) ratio: -0.03 <= 3.0 (WARN <= 3.5)

Current Ratio 3.41 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (538.5m) change vs 12m ago -5.37% (target <= -2.0% for YES)

Gross Margin 33.79% (prev 37.60%; Δ -3.81pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 56.71% (prev 63.58%; Δ -6.88pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 50.35 (EBITDA TTM 2.95b / Interest Expense TTM 46.4m) >= 6 (WARN >= 3)

Altman Z'' 10.49

(A) 0.32 = (Total Current Assets 9.16b - Total Current Liabilities 2.68b) / Total Assets 20.41b

(B) 0.85 = Retained Earnings (Balance) 17.30b / Total Assets 20.41b

warn (B) unusual magnitude: 0.85 — check mapping/units

(D) 4.66 = Book Value of Equity 16.82b / Total Liabilities 3.61b

Total Rating: 10.49 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 59.22

1. Piotroski 5.50pt = 0.50

2. FCF Yield 9.15% = 4.57

3. FCF Margin 16.15% = 4.04

4. Debt/Equity 0.03 = 2.50

5. Debt/Ebitda -0.03 = 2.50

6. ROIC - WACC (= 1.25)% = 1.56

7. RoE 11.86% = 0.99

8. Rev. Trend -57.35% = -4.30

9. EPS Trend -62.70% = -3.14

What is the price of TS shares?

As of November 14, 2025, the stock is trading at USD 40.95 with a total of 990,000 shares traded.
Over the past week, the price has changed by +2.09%, over one month by +19.67%, over three months by +13.88% and over the past year by +17.63%.

Is Tenaris a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, Tenaris is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 59.22 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of TS is around 40.47 USD . This means that TS is currently overvalued and has a potential downside of -1.17%.

Is TS a buy, sell or hold?

Tenaris has received a consensus analysts rating of 3.82. Therefore, it is recommended to buy TS.

Strong Buy: 4
Buy: 4
Hold: 1
Sell: 1
Strong Sell: 1

What are the forecasts/targets for the TS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	42.5	3.7%
Analysts Target Price	42.5	3.7%
ValueRay Target Price	45.8	11.7%

TS Fundamental Data Overview November 01, 2025

Market Cap USD = 20.75b (20.75b USD * 1.0 USD.USD)
P/E Trailing = 10.7946
P/E Forward = 15.7729
P/S = 1.763
P/B = 1.1267
P/EG = 4.692
Beta = 1.148
Revenue TTM = 11.77b USD
EBIT TTM = 2.34b USD
EBITDA TTM = 2.95b USD
Long Term Debt = 4.36m USD (from longTermDebt, last quarter)
Short Term Debt = 373.8m USD (from shortTermDebt, last quarter)
Debt = 472.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -99.9m USD (from netDebt column, last quarter)
Enterprise Value = 20.78b USD (20.75b + Debt 472.4m - CCE 438.5m)
Interest Coverage Ratio = 50.35 (Ebit TTM 2.34b / Interest Expense TTM 46.4m)
FCF Yield = 9.15% (FCF TTM 1.90b / Enterprise Value 20.78b)
FCF Margin = 16.15% (FCF TTM 1.90b / Revenue TTM 11.77b)
Net Margin = 17.02% (Net Income TTM 2.00b / Revenue TTM 11.77b)
Gross Margin = 33.79% ((Revenue TTM 11.77b - Cost of Revenue TTM 7.79b) / Revenue TTM)
Gross Margin QoQ = 34.74% (prev 34.27%)
Tobins Q-Ratio = 1.02 (Enterprise Value 20.78b / Total Assets 20.41b)
Interest Expense / Debt = 2.08% (Interest Expense 9.83m / Debt 472.4m)
Taxrate = 16.28% (105.3m / 647.0m)
NOPAT = 1.96b (EBIT 2.34b * (1 - 16.28%))
Current Ratio = 3.41 (Total Current Assets 9.16b / Total Current Liabilities 2.68b)
Debt / Equity = 0.03 (Debt 472.4m / totalStockholderEquity, last quarter 16.58b)
Debt / EBITDA = -0.03 (Net Debt -99.9m / EBITDA 2.95b)
Debt / FCF = -0.05 (Net Debt -99.9m / FCF TTM 1.90b)
Total Stockholder Equity = 16.89b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.81% (Net Income 2.00b / Total Assets 20.41b)
RoE = 11.86% (Net Income TTM 2.00b / Total Stockholder Equity 16.89b)
RoCE = 13.83% (EBIT 2.34b / Capital Employed (Equity 16.89b + L.T.Debt 4.36m))
RoIC = 11.31% (NOPAT 1.96b / Invested Capital 17.29b)
WACC = 10.06% (E(20.75b)/V(21.22b) * Re(10.25%) + D(472.4m)/V(21.22b) * Rd(2.08%) * (1-Tc(0.16)))
Discount Rate = 10.25% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -4.31%
[DCF Debug] Terminal Value 62.89% ; FCFE base≈2.45b ; Y1≈1.72b ; Y5≈893.4m
Fair Price DCF = 23.85 (DCF Value 12.39b / Shares Outstanding 519.5m; 5y FCF grow -35.13% → 3.0% )
EPS Correlation: -62.70 | EPS CAGR: -15.71% | SUE: 0.37 | # QB: 0
Revenue Correlation: -57.35 | Revenue CAGR: 1.34% | SUE: 0.74 | # QB: 0

Additional Sources for TS Stock

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