(TS) Tenaris - Overview
Sector: Energy | Industry: Oil & Gas Equipment & Services | Exchange: NYSE (USA) | Market Cap: 31.183m USD | Total Return: 96.9% in 12m
Avg Turnover: 98.5M
EPS Trend: -87.3%
Qual. Beats: 1
Rev. Trend: -93.3%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Tenaris S.A. (TS) is a global manufacturer and supplier of steel pipe products and related services tailored for the energy and industrial sectors. The company specializes in the production of seamless and welded steel pipes, including casings, tubing, and line pipes used in the extraction and transportation of oil and natural gas. Its operations span North America, South America, Europe, the Middle East, Africa, and the Asia Pacific.
The company operates within the Oil & Gas Equipment & Services sub-industry, where business cycles are heavily influenced by global capital expenditure in drilling and pipeline infrastructure. Tenaris utilizes a vertically integrated business model, managing the process from steel manufacturing to specialized pipe coating and the production of premium joints designed for high-pressure environments.
Beyond core energy applications, the company supplies cold-drawn pipes and components for the automotive, construction, and power generation industries. You may find it useful to examine the companys valuation metrics on ValueRay to better understand its current market position. Tenaris also provides hydraulic fracturing services and sucker rods, diversifying its revenue streams across the lifecycle of an oil or gas well.
- North American drilling activity and rig counts dictate seamless pipe demand
- Volatility in global crude oil prices influences energy infrastructure capital expenditure
- Import duties and trade protectionism impact regional market share and margins
- Steel scrap and energy input costs affect manufacturing profitability and spreads
- Expansion in offshore and deepwater projects drives premium connection sales volume
| Net Income: 1.97b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -0.98 > 1.0 |
| NWC/Revenue: 59.91% < 20% (prev 58.49%; Δ 1.41% < -1%) |
| CFO/TA 0.12 > 3% & CFO 2.45b > Net Income 1.97b |
| Net Debt (-2.80b) to EBITDA (2.97b): -0.94 < 3 |
| Current Ratio: 4.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (519.8m) vs 12m ago -3.47% < -2% |
| Gross Margin: 34.29% > 18% (prev 0.34%; Δ 3.39k% > 0.5%) |
| Asset Turnover: 59.11% > 50% (prev 58.22%; Δ 0.89% > 0%) |
| Interest Coverage Ratio: 53.07 > 6 (EBITDA TTM 2.97b / Interest Expense TTM 47.0m) |
| A: 0.36 (Total Current Assets 9.60b - Total Current Liabilities 2.32b) / Total Assets 20.5b |
| B: 0.90 (Retained Earnings 18.4b / Total Assets 20.5b) |
| C: 0.12 (EBIT TTM 2.49b / Avg Total Assets 20.6b) |
| D: 5.82 (Book Value of Equity 18.4b / Total Liabilities 3.17b) |
| Altman-Z'' = 12.18 = AAA |
| DSRI: 1.04 (Receivables 2.38b/2.25b, Revenue 12.2b/12.0b) |
| GMI: 0.99 (GM 34.29% / 34.01%) |
| AQI: 0.93 (AQ_t 0.22 / AQ_t-1 0.24) |
| SGI: 1.01 (Revenue 12.2b / 12.0b) |
| TATA: -0.02 (NI 1.97b - CFO 2.45b) / TA 20.5b) |
| Beneish M = -3.06 (Cap -4..+1) = AA |
As of May 23, 2026, the stock is trading at USD 61.77 with a total of 1,823,138 shares traded.
Over the past week, the price has changed by +1.71%,
over one month by +1.07%,
over three months by +17.28% and
over the past year by +96.85%.
Tenaris has received a consensus analysts rating of 3.82. Therefore, it is recommended to buy TS.
- StrongBuy: 4
- Buy: 4
- Hold: 1
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 63.2 | 2.3% |
P/E Forward = 15.7729
P/S = 2.5645
P/B = 1.8242
P/EG = 3.1501
Revenue TTM = 12.2b USD
EBIT TTM = 2.49b USD
EBITDA TTM = 2.97b USD
Long Term Debt = 360k USD (from longTermDebt, last quarter)
Short Term Debt = 379.5m USD (from shortTermDebt, last quarter)
Debt = 615.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 142.1m
Net Debt = -2.80b USD (calculated: Debt 615.6m - CCE 3.42b)
Enterprise Value = 28.4b USD (31.2b + Debt 615.6m - CCE 3.42b)
Interest Coverage Ratio = 53.07 (Ebit TTM 2.49b / Interest Expense TTM 47.0m)
EV/FCF = 15.14x (Enterprise Value 28.4b / FCF TTM 1.87b)
FCF Yield = 6.60% (FCF TTM 1.87b / Enterprise Value 28.4b)
FCF Margin = 15.42% (FCF TTM 1.87b / Revenue TTM 12.2b)
Net Margin = 16.18% (Net Income TTM 1.97b / Revenue TTM 12.2b)
Gross Margin = 34.29% ((Revenue TTM 12.2b - Cost of Revenue TTM 7.99b) / Revenue TTM)
Gross Margin QoQ = 33.87% (prev 33.89%)
Tobins Q-Ratio = 1.38 (Enterprise Value 28.4b / Total Assets 20.5b)
Interest Expense / Debt = 7.63% (Interest Expense 47.0m / Debt 615.6m)
Taxrate = 15.50% (103.9m / 670.1m)
NOPAT = 2.11b (EBIT 2.49b * (1 - 15.50%))
Current Ratio = 4.15 (Total Current Assets 9.60b / Total Current Liabilities 2.32b)
Debt / Equity = 0.04 (Debt 615.6m / totalStockholderEquity, last quarter 17.1b)
Debt / EBITDA = -0.94 (Net Debt -2.80b / EBITDA 2.97b)
Debt / FCF = -1.50 (Net Debt -2.80b / FCF TTM 1.87b)
Total Stockholder Equity = 16.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.56% (Net Income 1.97b / Total Assets 20.5b)
RoE = 11.69% (Net Income TTM 1.97b / Total Stockholder Equity 16.8b)
RoCE = 14.81% (EBIT 2.49b / Capital Employed (Equity 16.8b + L.T.Debt 360k))
RoIC = 11.34% (NOPAT 2.11b / Invested Capital 18.6b)
WACC = 8.81% (E(31.2b)/V(31.8b) * Re(8.86%) + D(615.6m)/V(31.8b) * Rd(7.63%) * (1-Tc(0.15)))
Discount Rate = 8.86% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -76.83 | Cagr: -5.34%
[DCF] Terminal Value 72.25% ; FCFF base≈1.96b ; Y1≈1.80b ; Y5≈1.59b
[DCF] Fair Price = 52.06 (EV 23.5b - Net Debt -2.80b = Equity 26.3b / Shares 504.8m; r=8.81% [WACC]; 5y FCF grow -10.16% → 2.50% )
EPS Correlation: -87.33 | EPS CAGR: -22.11% | SUE: 1.22 | # QB: 1
Revenue Correlation: -93.31 | Revenue CAGR: -9.53% | SUE: 3.23 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.80 | Chg30d=-3.79% | Revisions=-50% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.90 | Chg30d=+4.75% | Revisions=+50% | Analysts=6
EPS current Year (2026-12-31): EPS=3.75 | Chg30d=+5.39% | Revisions=+25% | GrowthEPS=+2.5% | GrowthRev=+2.2%
EPS next Year (2027-12-31): EPS=4.00 | Chg30d=+4.58% | Revisions=+33% | GrowthEPS=+6.6% | GrowthRev=+3.7%
[Analyst] Revisions Ratio: -50%