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

Oil & Gas Equipment & Services
Market Cap in USD: 19,322m

IPO / Inception: 2002-12-16
Return 12m vs S&P 500: -8.60%

EPS (Earnings per Share)

EPS CAGR: 8.31%
EPS Trend: -11.3%

Last SUE: 0.32
Qual. Beats: 0

Revenue

Rev. CAGR: 10.24%
Rev. Trend: 24.1%

Last SUE: 1.16
Qual. Beats: 1

Dividends

Dividend Yield	4.44%
Yield on Cost 5y	12.56%
Yield CAGR 5y	17.63%
Payout Consistency	90.7%
Payout Ratio	45.7%

Risk via 5d forecast
Volatility	27.8%
Value at Risk 5%th	42.5%
Relative Tail Risk	-7.01%

Reward TTM
Sharpe Ratio	0.21
Alpha	-7.43
CAGR/Max DD	0.24

Character TTM
Hurst Exponent	0.542
Beta	0.800
Beta Downside	1.102

Drawdowns 3y
Max DD	30.72%
Mean DD	10.73%
Median DD	8.59%

Description: TS Tenaris December 19, 2025

Tenaris S.A. (NYSE:TS) manufactures and supplies a broad portfolio of steel pipe products and related services for the energy sector and other industrial markets worldwide, including seamless casings, tubing, line pipe, mechanical and structural pipe, cold-drawn pipe, premium joints, coiled tubing, sucker rods, and pipe-coating services. The company also offers ancillary activities such as energy and raw-material sales, IP licensing, procurement and trading, and financial operations.

In 2023 Tenaris reported revenue of approximately $9.2 billion and adjusted EBITDA of $1.4 billion, yielding an EBITDA margin near 15%. Adjusted earnings per share were $5.45, while net debt stood at roughly 2.1 × EBITDA, indicating a moderate leverage profile relative to peers.

Key economic drivers for Tenaris include global oil-and-gas drilling activity (rig count), the pace of offshore and unconventional development, and the growing demand for natural-gas infrastructure in Asia. The company’s market share of about 20 % in the seamless pipe segment makes it sensitive to oil price cycles, yet its diversified product mix and exposure to the broader industrial pipe market provide a partial hedge against sector downturns.

For a deeper quantitative dive, see the Tenaris profile on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (2.00b TTM) > 0 and > 6% of Revenue (6% = 709.1m TTM)

FCFTA 0.08 (>2.0%) and ΔFCFTA -3.77pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 59.77% (prev 55.02%; Δ 4.75pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.12 (>3.0%) and CFO 2.35b > Net Income 2.00b (YES >=105%, WARN >=100%)

Net Debt (-69.7m) to EBITDA (3.01b) ratio: -0.02 <= 3.0 (WARN <= 3.5)

Current Ratio 4.08 (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 -3.12% (target <= -2.0% for YES)

Gross Margin 34.05% (prev 36.35%; Δ -2.30pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 56.81% (prev 61.94%; Δ -5.13pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 59.74 (EBITDA TTM 3.01b / Interest Expense TTM 40.0m) >= 6 (WARN >= 3)

Altman Z'' 12.02

(A) 0.35 = (Total Current Assets 9.36b - Total Current Liabilities 2.29b) / Total Assets 20.47b

(B) 0.87 = Retained Earnings (Balance) 17.73b / Total Assets 20.47b

warn (B) unusual magnitude: 0.87 — check mapping/units

(D) 5.86 = Book Value of Equity 18.81b / Total Liabilities 3.21b

Total Rating: 12.02 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 67.15

1. Piotroski 5.50pt

2. FCF Yield 8.57%

3. FCF Margin 14.06%

4. Debt/Equity 0.03

5. Debt/Ebitda -0.02

6. ROIC - WACC (= 1.29)%

7. RoE 11.86%

8. Rev. Trend 24.12%

9. EPS Trend -11.31%

What is the price of TS shares?

As of December 27, 2025, the stock is trading at USD 38.33 with a total of 393,464 shares traded.
Over the past week, the price has changed by +1.51%, over one month by -3.96%, over three months by +10.01% and over the past year by +6.15%.

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	44.4	15.9%
Analysts Target Price	44.4	15.9%
ValueRay Target Price	42.5	10.8%

TS Fundamental Data Overview December 21, 2025

Market Cap USD = 19.32b (19.32b USD * 1.0 USD.USD)
P/E Trailing = 10.1505
P/E Forward = 15.7729
P/S = 1.6331
P/B = 1.1387
P/EG = 4.692
Beta = 0.568
Revenue TTM = 11.82b USD
EBIT TTM = 2.39b USD
EBITDA TTM = 3.01b USD
Long Term Debt = 2.25m USD (from longTermDebt, last quarter)
Short Term Debt = 378.8m USD (from shortTermDebt, last quarter)
Debt = 477.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -69.7m USD (from netDebt column, last quarter)
Enterprise Value = 19.38b USD (19.32b + Debt 477.5m - CCE 421.1m)
Interest Coverage Ratio = 59.74 (Ebit TTM 2.39b / Interest Expense TTM 40.0m)
FCF Yield = 8.57% (FCF TTM 1.66b / Enterprise Value 19.38b)
FCF Margin = 14.06% (FCF TTM 1.66b / Revenue TTM 11.82b)
Net Margin = 16.91% (Net Income TTM 2.00b / Revenue TTM 11.82b)
Gross Margin = 34.05% ((Revenue TTM 11.82b - Cost of Revenue TTM 7.79b) / Revenue TTM)
Gross Margin QoQ = 34.65% (prev 34.74%)
Tobins Q-Ratio = 0.95 (Enterprise Value 19.38b / Total Assets 20.47b)
Interest Expense / Debt = 2.01% (Interest Expense 9.59m / Debt 477.5m)
Taxrate = 27.50% (170.9m / 621.6m)
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 = 0.03 (Debt 477.5m / totalStockholderEquity, last quarter 17.04b)
Debt / EBITDA = -0.02 (Net Debt -69.7m / EBITDA 3.01b)
Debt / FCF = -0.04 (Net Debt -69.7m / FCF TTM 1.66b)
Total Stockholder Equity = 16.85b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.76% (Net Income 2.00b / Total Assets 20.47b)
RoE = 11.86% (Net Income TTM 2.00b / Total Stockholder Equity 16.85b)
RoCE = 14.19% (EBIT 2.39b / Capital Employed (Equity 16.85b + L.T.Debt 2.25m))
RoIC = 10.07% (NOPAT 1.73b / Invested Capital 17.21b)
WACC = 8.78% (E(19.32b)/V(19.80b) * Re(8.96%) + D(477.5m)/V(19.80b) * Rd(2.01%) * (1-Tc(0.28)))
Discount Rate = 8.96% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.23%
[DCF Debug] Terminal Value 69.09% ; FCFE base≈2.00b ; Y1≈1.47b ; Y5≈844.2m
Fair Price DCF = 26.94 (DCF Value 13.75b / Shares Outstanding 510.4m; 5y FCF grow -31.26% → 3.0% )
EPS Correlation: -11.31 | EPS CAGR: 8.31% | SUE: 0.32 | # QB: 0
Revenue Correlation: 24.12 | Revenue CAGR: 10.24% | SUE: 1.16 | # QB: 1
EPS next Quarter (2026-03-31): EPS=0.81 | Chg30d=+0.009 | Revisions Net=-1 | Analysts=7
EPS next Year (2026-12-31): EPS=3.37 | Chg30d=-0.035 | Revisions Net=+2 | Growth EPS=-4.2% | Growth Revenue=+0.7%

Additional Sources for TS Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle