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

EPS (Earnings per Share)

EPS Growth (3y CAGR): -15.71%
EPS Trend (3y Corr): -62.7%

Last SUE: 0.37σ
Qual. Beats: 0

Revenue

Revenue Growth (3y CAGR): -7.00%
Revenue Trend (3y Corr): -83.0%

Last SUE: 1.16σ
Qual. Beats: 1

Risk via 10d forecast
Volatility	28.0%
Value at Risk 5%th	42.8%
Relative Tail Risk	-7.24%

Reward TTM
Sharpe Ratio	0.42
Alpha	1.70

Character TTM
Hurst Exponent	0.472
Beta	0.820
Beta Downside	1.139

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

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	21,459m
Sub-Industry	Oil & Gas Equipment & Services
IPO / Inception	2002-12-16
Return 12m vs S&P 500	-0.32%
Analyst Rating	3.82 of 5

TS Dividends

Metric	Value
Dividend Yield	4.22%
Yield on Cost 5y	12.95%
Yield CAGR 5y	17.63%
Payout Consistency	92.8%
Payout Ratio	60.2%

TS Growth Ratios

Metric	Value
CAGR 3y	9.82%
CAGR/Max DD Calmar Ratio	0.32
CAGR/Mean DD Pain Ratio	0.92
Current Volume	1347.1k
Average Volume	1252.3k

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 (2.99b) 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 59.12 (EBITDA TTM 2.99b / Interest Expense TTM 40.0m) >= 6 (WARN >= 3)

Altman Z'' 11.66

(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) 5.53 = Book Value of Equity 17.73b / Total Liabilities 3.21b

Total Rating: 11.66 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 56.40

1. Piotroski 5.50pt = 0.50

2. FCF Yield 8.77% = 4.38

3. FCF Margin 14.06% = 3.51

4. Debt/Equity 0.03 = 2.50

5. Debt/Ebitda -0.02 = 2.50

6. ROIC - WACC (= 1.10)% = 1.38

7. RoE 11.86% = 0.99

8. Rev. Trend -83.00% = -6.23

9. EPS Trend -62.70% = -3.14

What is the price of TS shares?

As of November 21, 2025, the stock is trading at USD 40.33 with a total of 1,347,117 shares traded.
Over the past week, the price has changed by -1.51%, over one month by +15.96%, over three months by +12.50% and over the past year by +13.25%.

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	43.7	8.3%
Analysts Target Price	43.7	8.3%
ValueRay Target Price	45.1	11.8%

TS Fundamental Data Overview November 17, 2025

Market Cap USD = 21.46b (21.46b USD * 1.0 USD.USD)
P/E Trailing = 10.9355
P/E Forward = 15.7729
P/S = 1.8138
P/B = 1.2401
P/EG = 4.692
Beta = 0.568
Revenue TTM = 11.82b USD
EBIT TTM = 2.37b USD
EBITDA TTM = 2.99b 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 = 18.95b USD (21.46b + Debt 477.5m - CCE 2.99b)
Interest Coverage Ratio = 59.12 (Ebit TTM 2.37b / Interest Expense TTM 40.0m)
FCF Yield = 8.77% (FCF TTM 1.66b / Enterprise Value 18.95b)
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 = 0.93 (Enterprise Value 18.95b / Total Assets 20.47b)
Interest Expense / Debt = 2.01% (Interest Expense 9.59m / Debt 477.5m)
Taxrate = 27.50% (170.9m / 621.6m)
NOPAT = 1.71b (EBIT 2.37b * (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 2.99b)
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 = 14.04% (EBIT 2.37b / Capital Employed (Equity 16.85b + L.T.Debt 2.25m))
RoIC = 9.97% (NOPAT 1.71b / Invested Capital 17.21b)
WACC = 8.87% (E(21.46b)/V(21.94b) * Re(9.03%) + D(477.5m)/V(21.94b) * Rd(2.01%) * (1-Tc(0.28)))
Discount Rate = 9.03% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -4.31%
[DCF Debug] Terminal Value 68.84% ; FCFE base≈2.00b ; Y1≈1.47b ; Y5≈848.0m
Fair Price DCF = 26.29 (DCF Value 13.66b / Shares Outstanding 519.5m; 5y FCF grow -31.14% → 3.0% )
EPS Correlation: -62.70 | EPS CAGR: -15.71% | SUE: 0.37 | # QB: 0
Revenue Correlation: -83.00 | Revenue CAGR: -7.00% | SUE: 1.16 | # QB: 1

Additional Sources for TS Stock

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