(TS) Tenaris - Overview
Stock: Steel Pipes, Casings, Tubing, Line Pipes, Premium Connections
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 4.82% |
| Yield on Cost 5y | 11.76% |
| Yield CAGR 5y | 33.20% |
| Payout Consistency | 93.1% |
| Payout Ratio | 61.2% |
| Risk 5d forecast | |
|---|---|
| Volatility | 27.9% |
| Relative Tail Risk | -7.33% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.84 |
| Alpha | 13.79 |
| Character TTM | |
|---|---|
| Beta | 0.812 |
| Beta Downside | 1.121 |
| Drawdowns 3y | |
|---|---|
| Max DD | 30.72% |
| CAGR/Max DD | 0.51 |
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) 6.5
| Net Income: 2.00b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA -3.77 > 1.0 |
| NWC/Revenue: 59.77% < 20% (prev 55.02%; Δ 4.75% < -1%) |
| CFO/TA 0.12 > 3% & CFO 2.35b > Net Income 2.00b |
| Net Debt (-69.7m) to EBITDA (3.01b): -0.02 < 3 |
| Current Ratio: 4.08 > 1.5 & < 3 |
| Outstanding Shares: last quarter (538.5m) vs 12m ago -3.12% < -2% |
| Gross Margin: 34.05% > 18% (prev 0.36%; Δ 3368 % > 0.5%) |
| Asset Turnover: 56.81% > 50% (prev 61.94%; Δ -5.13% > 0%) |
| Interest Coverage Ratio: 59.74 > 6 (EBITDA TTM 3.01b / 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: 5.86 (Book Value of Equity 18.81b / Total Liabilities 3.21b) |
| Altman-Z'' Score: 12.02 = AAA |
Beneish M -2.90
| DSRI: 1.18 (Receivables 2.55b/2.39b, Revenue 11.82b/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 11.82b / 13.09b) |
| TATA: -0.02 (NI 2.00b - CFO 2.35b) / TA 20.47b) |
| Beneish M-Score: -2.90 (Cap -4..+1) = A |
What is the price of TS shares?
Over the past week, the price has changed by +5.89%, over one month by +16.23%, over three months by +17.15% and over the past year by +28.86%.
Is TS a buy, sell or hold?
- StrongBuy: 4
- Buy: 4
- Hold: 1
- Sell: 1
- StrongSell: 1
What are the forecasts/targets for the TS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 44.8 | -4.6% |
| Analysts Target Price | 44.8 | -4.6% |
| ValueRay Target Price | 56 | 19.4% |
TS Fundamental Data Overview February 03, 2026
P/E Forward = 15.7729
P/S = 1.8903
P/B = 1.1267
P/EG = 4.692
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 = 22.42b USD (22.36b + Debt 477.5m - CCE 421.1m)
Interest Coverage Ratio = 59.74 (Ebit TTM 2.39b / Interest Expense TTM 40.0m)
EV/FCF = 13.50x (Enterprise Value 22.42b / FCF TTM 1.66b)
FCF Yield = 7.41% (FCF TTM 1.66b / Enterprise Value 22.42b)
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 = 1.10 (Enterprise Value 22.42b / 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 = 9.61% (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 = 8.75% (E(22.36b)/V(22.84b) * Re(8.91%) + D(477.5m)/V(22.84b) * Rd(2.01%) * (1-Tc(0.28)))
Discount Rate = 8.91% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -4.31%
[DCF Debug] Terminal Value 69.51% ; FCFF base≈2.00b ; Y1≈1.47b ; Y5≈842.1m
Fair Price DCF = 27.86 (EV 14.00b - Net Debt -69.7m = Equity 14.07b / Shares 504.8m; r=8.75% [WACC]; 5y FCF grow -31.26% → 2.90% )
EPS Correlation: -49.78 | EPS CAGR: -45.60% | SUE: -2.50 | # 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=+0.003 | Revisions Net=+1 | Analysts=7
EPS next Year (2026-12-31): EPS=3.44 | Chg30d=+0.063 | Revisions Net=+1 | Growth EPS=-2.6% | Growth Revenue=+0.5%