Energy · Oil & Gas Equipment & Services
Price
$56.03
Market Cap
$30.1B
Employees
25,144
Beta
0.47
Avg Volume
1,753,503
CEO
Paolo Rocca
Business Description
Tenaris S.A., together with its subsidiaries, manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. It provides steel casings to sustain the walls of oil and gas wells during and after drilling; steel tubing for conducting crude oil and natural gas to the surface after drilling has been completed; steel line pipes to transport crude oil and natural gas from wells to refineries, storage tanks, and loading and distribution centers; and mechanical and structural pipes for the transportation of other forms of gas and liquids under high pressure. The company also offers cold-drawn pipes for use in boilers, superheaters, condensers, heat exchangers, automobile production, and other industrial applications; premium joints and couplings for use in high temperature or high pressure environments under the TenarisHydril brand name; coiled tubing is used for oil and gas drilling and well workovers and for subsea pipelines; sucker rods used in oil extraction activities, tubes used for plumbing and construction applications, and oilfield / hydraulic fracturing services; pipe coating services; and automotive components. In addition, it engages in the sale of energy and raw materials; development, management, and licensing of intellectual property; procurement and trading services; and financial operations, as well as markets steel products. Further, the company manufactures and markets connections; and welded and seamless steel pipes. Tenaris S.A. was incorporated in 2001 and is based in Luxembourg, Luxembourg. Tenaris S.A. operates as a subsidiary of Techint Holdings S.àr.l.
Business History
Price Overview
Last updated: Jun 27, 2026 10:03am (just now)$56.03
-1.33 (-2.32%)
Day Range
$55.70 – $57.09
52-Week Range
$33.65 – $64.60
50-Day MA
$61.30
200-Day MA
$48.28
Volume
999,141.00
Analyst Price Targets
Low
$49.70
Consensus
$60.34
High
$82.00
(22 analysts)
Share Structure
Outstanding
536,564,622.00
Float
504,021,316.00
Free Float
93.9%
High free float
— 93.9% of shares trade freely, ~6.1% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
14.36
Stock Price: $56.03
EPS (Diluted): 3.72
EPS (Diluted): 3.72
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.20
Stock Price: $56.03
Total Equity: $16.60B
Shares: 519,796,500
Total Equity: $16.60B
Shares: 519,796,500
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
9.08
Market Cap: $30.06B
Total Debt: $305.72M
Cash: $572.65M
EBITDA: $3.14B
Total Debt: $305.72M
Cash: $572.65M
EBITDA: $3.14B
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$19.9B
Market Cap: $30.06B
Total Debt: $305.72M
Cash: $572.65M
Total Debt: $305.72M
Cash: $572.65M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
34.4%
Gross Profit: $4.12B
Revenue: $11.98B
Revenue: $11.98B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
19.1%
Operating Income: $2.29B
Revenue: $11.98B
Revenue: $11.98B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
16.1%
Net Income: $1.93B
Revenue: $11.98B
Revenue: $11.98B
ROE (Profit from shareholder equity)
APINet Income / Total Equity
11.6%
Net Income: $1.93B
Total Equity: $16.60B
Total Equity: $16.60B
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
9.9%
Operating Income: $2.29B
Tax Rate: 20.2%
Equity: $16.60B
Total Debt: $305.72M
Cash: $572.65M
Tax Rate: 20.2%
Equity: $16.60B
Total Debt: $305.72M
Cash: $572.65M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.87
Current Assets: $9.07B
Current Liabilities: $2.35B
Current Liabilities: $2.35B
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.02
Short-Term Debt: $305.35M
Long-Term Debt: $368,000
Total Debt: $305.72M
Total Equity: $16.60B
Long-Term Debt: $368,000
Total Debt: $305.72M
Total Equity: $16.60B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$23.05
Revenue: $11.98B
Shares: 519,796,500
Shares: 519,796,500
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$31.93
Total Equity: $16.60B
Shares: 519,796,500
Shares: 519,796,500
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$3.81
Operating CF: $2.60B
CapEx: -$617.18M
Shares: 519,796,500
CapEx: -$617.18M
Shares: 519,796,500
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
4.5%
Last Dividend: N/A
Stock Price: $56.03
Stock Price: $56.03
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $1.93B
Net Income: $1.93B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares TS against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:33pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $6.5B | $11.8B | $14.9B | $12.5B | $12.0B |
| Cost of Revenue | $4.6B | $7.1B | $8.7B | $8.1B | $7.9B |
| Gross Profit | $1.9B | $4.7B | $6.2B | $4.4B | $4.1B |
| Operating Expenses | $1.2B | $1.7B | $1.9B | $2.0B | $1.8B |
| Operating Income | $707.5M | $3.0B | $4.3B | $2.4B | $2.3B |
| Net Income | $1.1B | $2.6B | $3.9B | $2.0B | $1.9B |
| EBITDA | $1.9B | $3.8B | $5.3B | $3.2B | $3.1B |
| EPS | $1.86 | $4.32 | $6.66 | $7.24 | $3.72 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:33pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $318.1M | $1.1B | $1.6B | $675.3M | $572.6M |
| Total Current Assets | $5.0B | $8.5B | $10.5B | $9.2B | $9.1B |
| Total Assets | $14.4B | $17.6B | $21.1B | $20.5B | $20.1B |
| Current Liabilities | $1.6B | $2.8B | $2.9B | $2.6B | $2.3B |
| Long-Term Debt | $111.4M | $46.4M | $48.3M | $11.4M | $368,000 |
| Total Liabilities | $2.3B | $3.5B | $4.1B | $3.6B | $3.2B |
| Total Equity | $12.0B | $13.9B | $16.8B | $16.6B | $16.6B |
| Retained Earnings | $11.4B | $13.5B | $16.7B | $17.7B | $17.9B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:33pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $119.1M | $1.2B | $4.4B | $2.9B | $2.6B |
| Capital Expenditure | -$244.6M | -$397.3M | -$619.4M | -$704.3M | -$617.2M |
| Free Cash Flow | -$125.5M | $769.9M | $3.8B | $2.2B | $2.0B |
| Acquisitions (net) | $23.6M | -$4.1M | -$289.4M | $0 | -$17.7M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | -$213.7M | -$1.4B | -$1.4B |
| Net Change in Cash | -$266.5M | $773.4M | $525.2M | -$955.8M | -$88.4M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 10:03am (just now)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$12.8B $12.3B – $13.5B
|
$13.3B $12.8B – $13.8B
|
$13.2B $12.7B – $13.7B
|
$12.9B $12.4B – $13.4B
|
| EBITDA |
$3.8B $3.6B – $4.0B
|
$3.9B $3.8B – $4.1B
|
$3.9B $3.8B – $4.1B
|
$3.8B $3.7B – $4.0B
|
| Net Income |
$2.2B $1.8B – $2.8B
|
$2.3B $2.2B – $2.5B
|
$2.5B $2.4B – $2.6B
|
$2.3B $2.1B – $2.4B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:33pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +80.4% | +26.4% | -15.8% | -4.3% |
| Gross Profit Growth | +144.8% | +32.6% | -29.2% | -6.1% |
| Operating Income Growth | +318.8% | +45.7% | -44.0% | -5.2% |
| Net Income Growth | +132.1% | +53.5% | -48.0% | -5.1% |
| EBITDA Growth | +105.2% | +38.4% | -40.3% | -0.7% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:33pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-19 | $1.20 | 2026-02-18 | 2026-05-19 | 2026-05-28 |
| 2025-11-25 | $0.58 | 2025-10-29 | 2025-11-25 | 2025-12-03 |
| 2025-05-20 | $1.12 | 2025-02-19 | 2025-05-20 | 2025-05-28 |
| 2024-11-19 | $0.54 | 2024-11-06 | 2024-11-19 | 2024-11-27 |
| 2024-05-20 | $0.80 | 2024-02-21 | 2024-05-21 | 2024-05-29 |
| 2023-11-20 | $0.40 | 2023-11-02 | 2023-11-21 | 2023-11-29 |
| 2023-05-22 | $0.68 | 2023-04-28 | 2023-05-23 | 2023-05-24 |
| 2022-11-21 | $0.34 | 2022-11-03 | 2022-11-22 | 2022-11-30 |
| 2022-05-23 | $0.56 | 2022-05-03 | 2022-05-24 | 2022-06-01 |
| 2021-11-22 | $0.26 | 2021-11-03 | 2021-11-23 | 2021-12-01 |
| 2021-05-24 | $0.28 | 2021-05-24 | 2021-05-25 | 2021-06-03 |
| 2020-11-23 | $0.14 | 2020-11-10 | 2020-11-24 | 2020-12-03 |
| 2020-05-18 | $0.56 | 2020-02-24 | 2020-05-19 | 2020-05-20 |
| 2019-11-18 | $0.26 | 1900-01-01 | 2019-11-19 | 2019-11-26 |
| 2019-05-20 | $0.56 | 2019-05-07 | 2019-05-21 | 2019-05-30 |
| 2018-11-19 | $0.26 | 2018-11-02 | 2018-11-20 | 2018-12-03 |
| 2018-05-21 | $0.56 | 2018-05-04 | 2018-05-22 | 2018-05-31 |
| 2017-11-20 | $0.26 | 2017-11-07 | 2017-11-21 | 2017-11-30 |
| 2017-05-19 | $0.56 | 2017-02-22 | 2017-05-23 | 2017-06-01 |
| 2016-11-21 | $0.26 | 2016-11-09 | 2016-11-22 | 2016-12-02 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for TS — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30