TS Stock Analysis: Tenaris | NYSE
Oil & Gas Equipment & Services | NYSE, USA | Market Cap: 29.941m USD | 12M Return: 46.3% | US88031M1099 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 61.4M
EPS Trend: -83.2%
Qual. Beats: 0
Rev. Trend: -89.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.7 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 Luxembourg-based manufacturer and supplier of steel pipe products serving the global energy sector and broader industrial markets across North America, South America, Europe, the Middle East, Africa, and Asia Pacific. The company produces a comprehensive range of seamless and welded pipes, including steel casings, tubing, and line pipes used in oil and gas drilling and transportation, as well as mechanical and structural pipes for high-pressure fluid transport. Its products span the full OCTG (Oil Country Tubular Goods) value chain, alongside premium connections marketed under the TenarisHydril brand for high-temperature and high-pressure environments. Beyond core pipe products, Tenaris offers cold-drawn pipes for boilers, heat exchangers, and automotive applications, plus pipe coating services, coiled tubing, sucker rods, and oilfield/hydraulic fracturing services. The company also generates revenue from raw materials trading, intellectual property licensing, and financial operations. Incorporated in 2001 and listed on the NYSE since 2002, Tenaris operates as a subsidiary of Techint Holdings S.àr.l., the holding entity of the Techint industrial group.
The company sits within the GICS Energy sector, specifically the Oil & Gas Equipment & Services sub-industry, meaning its earnings tend to track upstream oil and gas drilling activity. Its vertically integrated production of seamless pipes, a segment with relatively few global suppliers, positions it to benefit from sustained demand for OCTG products driven by offshore and unconventional drilling projects.
- US shale drilling activity drives OCTG pipe demand
- Middle East offshore projects boost premium connection sales
- Steel raw material costs and seamless pipe margins under pressure
| Net Income: 1.91b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -0.78 > 1.0 |
| NWC/Revenue: 56.53% < 20% (prev 55.02%; Δ 1.50% < -1%) |
| CFO/TA 0.11 > 3% & CFO 2.27b > Net Income 1.91b |
| Net Debt (-2.19b) to EBITDA (3.15b): -0.70 < 3 |
| Current Ratio: 4.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (504.8m) vs 12m ago -6.25% < -2% |
| Gross Margin: 33.90% > 18% (prev 33.79%; Δ 0.11% > 0.5%) |
| Asset Turnover: 59.13% > 50% (prev 57.67%; Δ 1.46% > 0%) |
| Interest Coverage Ratio: 51.34 > 6 (EBIT TTM 2.52b / Interest Expense TTM 49.0m) |
| A: 0.34 (Total Current Assets 9.02b - Total Current Liabilities 2.22b) / Total Assets 20.3b |
| B: 0.84 (Retained Earnings 17.1b / Total Assets 20.3b) |
| C: 0.12 (EBIT TTM 2.52b / Avg Total Assets 20.4b) |
| D: 5.48 (Book Value of Equity 17.0b / Total Liabilities 3.09b) |
| Altman-Z'' = 11.54 = AAA |
| DSRI: 0.97 (Receivables 2.34b/2.37b, Revenue 12.0b/11.8b) |
| GMI: 1.00 (GM 33.79% / 33.90%) |
| AQI: 1.02 (AQ_t 0.25 / AQ_t-1 0.24) |
| SGI: 1.02 (Revenue 12.0b / 11.8b) |
| TATA: -0.02 (NI 1.91b - CFO 2.27b) / TA 20.3b) |
| Beneish M = -3.03 (Cap -4..+1) = AA |
As of November 04, 2026, the stock is trading at USD 57.58 with a total of 744,396 shares traded. Over the past week, the price has changed by -4.54%, over one month by -1.51%, over three months by +0.75% and over the past year by +46.30%.
Current recommended Stop Loss: 55.40 (which is 3.8% or 1.4 ATR below the current price).
Tenaris has received a consensus analysts rating of 3.92. Therefore, it is recommended to buy TS.
- StrongBuy: 5
- Buy: 2
- Hold: 4
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 65 | 12.8% |
P/E Trailing = 15.816
P/E Forward = 15.7729
P/S = 2.4867
P/B = 1.733
P/EG = 3.1501
Revenue TTM = 12.0b USD
EBIT TTM = 2.52b USD
EBITDA TTM = 3.15b USD
Long Term Debt = 357k USD (from longTermDebt, last quarter)
Short Term Debt = 348.4m USD (from shortTermDebt, last quarter)
Debt = 592.0m USD (from shortLongTermDebtTotal, last quarter) + Leases 145.1m
Net Debt = -2.19b USD (calculated: Debt 592.0m - CCE 2.78b)
Enterprise Value = 27.8b USD (29.9b + Debt 592.0m - CCE 2.78b)
Interest Coverage Ratio = 51.34 (Ebit TTM 2.52b / Interest Expense TTM 49.0m)
EV/FCF = 16.01x (Enterprise Value 27.8b / FCF TTM 1.73b)
FCF Yield = 6.25% (FCF TTM 1.73b / Enterprise Value 27.8b)
FCF Margin = 14.40% (FCF TTM 1.73b / Revenue TTM 12.0b)
Net Margin = 15.89% (Net Income TTM 1.91b / Revenue TTM 12.0b)
Gross Margin = 33.90% ((Revenue TTM 12.0b - Cost of Revenue TTM 7.96b) / Revenue TTM)
Gross Margin QoQ = 33.19% (prev 33.87%)
Tobins Q-Ratio = 1.37 (Enterprise Value 27.8b / Total Assets 20.3b)
Interest Expense / Debt = 8.28% (Interest Expense 49.0m / Debt 592.0m)
Taxrate = 20.22% (499.7m / 2.47b)
NOPAT = 2.01b (EBIT 2.52b * (1 - 20.22%))
Current Ratio = 4.07 (Total Current Assets 9.02b / Total Current Liabilities 2.22b)
Debt / Equity = 0.03 (Debt 592.0m / totalStockholderEquity, last quarter 17.0b)
Debt / EBITDA = -0.70 (Net Debt -2.19b / EBITDA 3.15b)
Debt / FCF = -1.26 (Net Debt -2.19b / FCF TTM 1.73b)
Total Stockholder Equity = 16.9b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.39% (Net Income 1.91b / Total Assets 20.3b)
RoE = 11.30% (Net Income TTM 1.91b / Total Stockholder Equity 16.9b)
RoCE = 14.88% (EBIT 2.52b / Capital Employed (Equity 16.9b + L.T.Debt 357k))
RoIC = 11.26% (NOPAT 2.01b / Invested Capital 17.8b)
WACC = 7.93% (E(29.9b)/V(30.5b) * Re(7.96%) + D(592.0m)/V(30.5b) * Rd(8.28%) * (1-Tc(0.20)))
Discount Rate = 7.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -29.72 | Cagr: -5.98%
[DCF] Terminal Value 74.15% ; FCFF base≈1.80b ; Y1≈1.67b ; Y5≈1.52b
[DCF] Fair Price = 52.02 (EV 24.1b - Net Debt -2.19b = Equity 26.3b / Shares 504.8m; r=8.35% [WACC [floored]]; 5y FCF grow -8.80% → 2.50% )
EPS Correlation: -83.18 | EPS CAGR: -21.31% | SUE: 0.82 | # QB: 0
Revenue Correlation: -89.62 | Revenue CAGR: -8.64% | SUE: 0.65 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.83 | Chg30d=-5.39% | Revisions=-25% | Analysts=6
EPS current Year (2026-12-31): EPS=3.77 | Chg30d=-0.60% | Revisions=-25% | GrowthEPS=+3.0% | GrowthRev=+2.0%
EPS next Year (2027-12-31): EPS=4.20 | Chg30d=+1.16% | Revisions=+17% | GrowthEPS=+11.4% | GrowthRev=+6.7%
[Analyst] Revisions Ratio: -12% (up=2, down=3)