TENARIS SA (TEN.MI) Stock Fundamental Analysis
BIT:TEN - Euronext Milan - LU2598331598 - Common Stock - Currency: EUR
We assign a fundamental rating of 7 out of 10 to TEN. TEN was compared to 35 industry peers in the Energy Equipment & Services industry. TEN scores excellent points on both the profitability and health parts. This is a solid base for a good stock. TEN is cheap, but on the other hand it scores bad on growth. TEN also has an excellent dividend rating. This makes TEN very considerable for value and dividend investing!
1. Profitability
1.1 Basic Checks
In the past year TEN was profitable.
TEN had a positive operating cash flow in the past year.
Of the past 5 years TEN 4 years were profitable.
TEN had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
TEN's Return On Assets of 8.76% is amongst the best of the industry. TEN outperforms 82.86% of its industry peers.
TEN has a Return On Equity (10.52%) which is comparable to the rest of the industry.
With a decent Return On Invested Capital value of 9.58%, TEN is doing good in the industry, outperforming 65.71% of the companies in the same industry.
TEN had an Average Return On Invested Capital over the past 3 years of 16.25%. This is significantly above the industry average of 10.77%.
The 3 year average ROIC (16.25%) for TEN is well above the current ROIC(9.58%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.76% | ||
| ROE | 10.52% | ||
| ROIC | 9.58% |
ROA(3y)14.36%
ROA(5y)9.22%
ROE(3y)17.97%
ROE(5y)11.49%
ROIC(3y)16.25%
ROIC(5y)N/A
1.3 Margins
With a decent Profit Margin value of 15.05%, TEN is doing good in the industry, outperforming 80.00% of the companies in the same industry.
TEN's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 17.56%, TEN is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
In the last couple of years the Operating Margin of TEN has grown nicely.
TEN has a Gross Margin of 34.01%. This is in the better half of the industry: TEN outperforms 80.00% of its industry peers.
In the last couple of years the Gross Margin of TEN has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 17.56% | ||
| PM (TTM) | 15.05% | ||
| GM | 34.01% |
OM growth 3Y18.67%
OM growth 5Y12.05%
PM growth 3Y-1.22%
PM growth 5Y9.81%
GM growth 3Y5.93%
GM growth 5Y3.17%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so TEN is creating value.
TEN has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, TEN has less shares outstanding
TEN has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 4.31 indicates that TEN is not in any danger for bankruptcy at the moment.
TEN's Altman-Z score of 4.31 is amongst the best of the industry. TEN outperforms 94.29% of its industry peers.
The Debt to FCF ratio of TEN is 0.24, which is an excellent value as it means it would take TEN, only 0.24 years of fcf income to pay off all of its debts.
TEN has a Debt to FCF ratio of 0.24. This is amongst the best in the industry. TEN outperforms 94.29% of its industry peers.
TEN has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of TEN (0.01) is better than 94.29% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.24 | ||
| Altman-Z | 4.31 |
ROIC/WACC1.27
WACC7.54%
2.3 Liquidity
A Current Ratio of 4.08 indicates that TEN has no problem at all paying its short term obligations.
TEN has a better Current ratio (4.08) than 91.43% of its industry peers.
A Quick Ratio of 2.53 indicates that TEN has no problem at all paying its short term obligations.
TEN has a better Quick ratio (2.53) than 77.14% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 4.08 | ||
| Quick Ratio | 2.53 |
3. Growth
3.1 Past
TEN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -46.18%.
The Earnings Per Share has been growing by 23.23% on average over the past years. This is a very strong growth
The Revenue for TEN has decreased by -15.28% in the past year. This is quite bad
TEN shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 11.42% yearly.
EPS 1Y (TTM)-46.18%
EPS 3Y24.77%
EPS 5Y23.23%
EPS Q2Q%-26.56%
Revenue 1Y (TTM)-15.28%
Revenue growth 3Y24.3%
Revenue growth 5Y11.42%
Sales Q2Q%-15.09%
3.2 Future
The Earnings Per Share is expected to decrease by -3.09% on average over the next years.
Based on estimates for the next years, TEN will show a decrease in Revenue. The Revenue will decrease by -0.43% on average per year.
EPS Next Y18.95%
EPS Next 2Y10.98%
EPS Next 3Y7.04%
EPS Next 5Y-3.09%
Revenue Next Year-3.03%
Revenue Next 2Y-1.51%
Revenue Next 3Y-0.34%
Revenue Next 5Y-0.43%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
TEN is valuated reasonably with a Price/Earnings ratio of 11.74.
TEN's Price/Earnings is on the same level as the industry average.
The average S&P500 Price/Earnings ratio is at 27.45. TEN is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 8.65 indicates a reasonable valuation of TEN.
TEN's Price/Forward Earnings ratio is in line with the industry average.
When comparing the Price/Forward Earnings ratio of TEN to the average of the S&P500 Index (21.90), we can say TEN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.74 | ||
| Fwd PE | 8.65 |
4.2 Price Multiples
TEN's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. TEN is cheaper than 94.29% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, TEN is valued a bit cheaper than 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.82 | ||
| EV/EBITDA | 1.72 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
TEN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.62
PEG (5Y)0.51
EPS Next 2Y10.98%
EPS Next 3Y7.04%
5. Dividend
5.1 Amount
TEN has a Yearly Dividend Yield of 4.33%, which is a nice return.
Compared to an average industry Dividend Yield of 6.20, TEN pays a bit more dividend than its industry peers.
TEN's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.33% |
5.2 History
On average, the dividend of TEN grows each year by 10.42%, which is quite nice.
Dividend Growth(5Y)10.42%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
41.95% of the earnings are spent on dividend by TEN. This is a bit on the high side, but may be sustainable.
DP41.95%
EPS Next 2Y10.98%
EPS Next 3Y7.04%
BIT:TEN (7/4/2025, 7:00:00 PM)
16.205
-0.12 (-0.7%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)
Earnings (Next)
Inst Owners12.52%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap8.57B
Analysts72.94
Price Target18.24 (12.56%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.33% |
Yearly Dividend0.57
Dividend Growth(5Y)10.42%
DP41.95%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)12.83%
Min EPS beat(2)-19.77%
Max EPS beat(2)45.42%
EPS beat(4)2
Avg EPS beat(4)1.24%
Min EPS beat(4)-38.91%
Max EPS beat(4)45.42%
EPS beat(8)5
Avg EPS beat(8)12.13%
EPS beat(12)7
Avg EPS beat(12)10.04%
EPS beat(16)11
Avg EPS beat(16)20.29%
Revenue beat(2)1
Avg Revenue beat(2)1.37%
Min Revenue beat(2)-1.14%
Max Revenue beat(2)3.88%
Revenue beat(4)3
Avg Revenue beat(4)2.29%
Min Revenue beat(4)-1.14%
Max Revenue beat(4)5.06%
Revenue beat(8)6
Avg Revenue beat(8)2.99%
Revenue beat(12)10
Avg Revenue beat(12)2.79%
Revenue beat(16)14
Avg Revenue beat(16)3.28%
PT rev (1m)-9.49%
PT rev (3m)-19.18%
EPS NQ rev (1m)-24.71%
EPS NQ rev (3m)55.95%
EPS NY rev (1m)0%
EPS NY rev (3m)7.58%
Revenue NQ rev (1m)0.66%
Revenue NQ rev (3m)1.1%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.7%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.74 | ||
| Fwd PE | 8.65 | ||
| P/S | 0.84 | ||
| P/FCF | 4.82 | ||
| P/OCF | 3.6 | ||
| P/B | 0.59 | ||
| P/tB | 0.64 | ||
| EV/EBITDA | 1.72 |
EPS(TTM)1.38
EY8.52%
EPS(NY)1.87
Fwd EY11.56%
FCF(TTM)3.36
FCFY20.75%
OCF(TTM)4.5
OCFY27.75%
SpS19.28
BVpS27.57
TBVpS25.38
PEG (NY)0.62
PEG (5Y)0.51
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.76% | ||
| ROE | 10.52% | ||
| ROCE | 11.5% | ||
| ROIC | 9.58% | ||
| ROICexc | 11.73% | ||
| ROICexgc | 12.9% | ||
| OM | 17.56% | ||
| PM (TTM) | 15.05% | ||
| GM | 34.01% | ||
| FCFM | 17.44% |
ROA(3y)14.36%
ROA(5y)9.22%
ROE(3y)17.97%
ROE(5y)11.49%
ROIC(3y)16.25%
ROIC(5y)N/A
ROICexc(3y)19.35%
ROICexc(5y)N/A
ROICexgc(3y)21.4%
ROICexgc(5y)N/A
ROCE(3y)19.51%
ROCE(5y)N/A
ROICexcg growth 3Y37.2%
ROICexcg growth 5Y17.07%
ROICexc growth 3Y38.27%
ROICexc growth 5Y18.31%
OM growth 3Y18.67%
OM growth 5Y12.05%
PM growth 3Y-1.22%
PM growth 5Y9.81%
GM growth 3Y5.93%
GM growth 5Y3.17%
F-ScoreN/A
Asset Turnover0.58
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.24 | ||
| Debt/EBITDA | 0.04 | ||
| Cap/Depr | 116.94% | ||
| Cap/Sales | 5.88% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 103.24% | ||
| Profit Quality | 115.93% | ||
| Current Ratio | 4.08 | ||
| Quick Ratio | 2.53 | ||
| Altman-Z | 4.31 |
F-ScoreN/A
WACC7.54%
ROIC/WACC1.27
Cap/Depr(3y)96.54%
Cap/Depr(5y)71.87%
Cap/Sales(3y)4.39%
Cap/Sales(5y)4.14%
Profit Quality(3y)77.56%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-46.18%
EPS 3Y24.77%
EPS 5Y23.23%
EPS Q2Q%-26.56%
EPS Next Y18.95%
EPS Next 2Y10.98%
EPS Next 3Y7.04%
EPS Next 5Y-3.09%
Revenue 1Y (TTM)-15.28%
Revenue growth 3Y24.3%
Revenue growth 5Y11.42%
Sales Q2Q%-15.09%
Revenue Next Year-3.03%
Revenue Next 2Y-1.51%
Revenue Next 3Y-0.34%
Revenue Next 5Y-0.43%
EBIT growth 1Y-43.66%
EBIT growth 3Y47.51%
EBIT growth 5Y24.84%
EBIT Next Year15.41%
EBIT Next 3Y5.01%
EBIT Next 5Y2.74%
FCF growth 1Y24.23%
FCF growth 3YN/A
FCF growth 5Y12.92%
OCF growth 1Y32.42%
OCF growth 3Y188.73%
OCF growth 5Y13.41%