TENARIS SA (TEN.MI) Stock Fundamental Analysis

Europe • Euronext Milan • BIT:TEN • LU2598331598

19.46 EUR
-0.02 (-0.08%)
Last: Feb 5, 2026, 07:00 PM
Fundamental Rating

7

Taking everything into account, TEN scores 7 out of 10 in our fundamental rating. TEN was compared to 36 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 has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • TEN had positive earnings in the past year.
  • In the past year TEN had a positive cash flow from operations.
  • TEN had positive earnings in 4 of the past 5 years.
  • In the past 5 years TEN always reported a positive cash flow from operatings.
TEN.MI Yearly Net Income VS EBIT VS OCF VS FCFTEN.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B

1.2 Ratios

  • TEN has a better Return On Assets (9.77%) than 77.78% of its industry peers.
  • TEN has a Return On Equity of 11.74%. This is in the better half of the industry: TEN outperforms 63.89% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 10.23%, TEN is in the better half of the industry, outperforming 72.22% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for TEN is significantly above the industry average of 10.18%.
  • The 3 year average ROIC (16.25%) for TEN is well above the current ROIC(10.23%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 9.77%
ROE 11.74%
ROIC 10.23%
ROA(3y)14.36%
ROA(5y)9.22%
ROE(3y)17.97%
ROE(5y)11.49%
ROIC(3y)16.25%
ROIC(5y)N/A
TEN.MI Yearly ROA, ROE, ROICTEN.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15 20

1.3 Margins

  • TEN's Profit Margin of 16.91% is amongst the best of the industry. TEN outperforms 80.56% of its industry peers.
  • TEN's Profit Margin has improved in the last couple of years.
  • With a decent Operating Margin value of 18.86%, TEN is doing good in the industry, outperforming 69.44% of the companies in the same industry.
  • TEN's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 34.05%, TEN is in the better half of the industry, outperforming 69.44% of the companies in the same industry.
  • In the last couple of years the Gross Margin of TEN has grown nicely.
Industry RankSector Rank
OM 18.86%
PM (TTM) 16.91%
GM 34.05%
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%
TEN.MI Yearly Profit, Operating, Gross MarginsTEN.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30 40

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10

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.
  • The number of shares outstanding for TEN has been reduced compared to 1 year ago.
  • The number of shares outstanding for TEN has been reduced compared to 5 years ago.
  • The debt/assets ratio for TEN has been reduced compared to a year ago.
TEN.MI Yearly Shares OutstandingTEN.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
TEN.MI Yearly Total Debt VS Total AssetsTEN.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

  • TEN has an Altman-Z score of 4.58. This indicates that TEN is financially healthy and has little risk of bankruptcy at the moment.
  • TEN has a better Altman-Z score (4.58) than 94.44% of its industry peers.
  • TEN has a debt to FCF ratio of 0.29. This is a very positive value and a sign of high solvency as it would only need 0.29 years to pay back of all of its debts.
  • TEN has a better Debt to FCF ratio (0.29) than 91.67% of its industry peers.
  • A Debt/Equity ratio of 0.01 indicates that TEN is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.01, TEN belongs to the top of the industry, outperforming 88.89% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.29
Altman-Z 4.58
ROIC/WACC1.32
WACC7.75%
TEN.MI Yearly LT Debt VS Equity VS FCFTEN.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

  • A Current Ratio of 4.08 indicates that TEN has no problem at all paying its short term obligations.
  • TEN's Current ratio of 4.08 is amongst the best of the industry. TEN outperforms 86.11% of its industry peers.
  • TEN has a Quick Ratio of 2.55. This indicates that TEN is financially healthy and has no problem in meeting its short term obligations.
  • TEN has a better Quick ratio (2.55) than 83.33% of its industry peers.
Industry RankSector Rank
Current Ratio 4.08
Quick Ratio 2.55
TEN.MI Yearly Current Assets VS Current LiabilitesTEN.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • The earnings per share for TEN have decreased strongly by -17.98% in the last year.
  • The Earnings Per Share has been growing by 23.23% on average over the past years. This is a very strong growth
  • TEN shows a decrease in Revenue. In the last year, the revenue decreased by -9.64%.
  • Measured over the past years, TEN shows a quite strong growth in Revenue. The Revenue has been growing by 11.42% on average per year.
EPS 1Y (TTM)-17.98%
EPS 3Y24.77%
EPS 5Y23.23%
EPS Q2Q%10.26%
Revenue 1Y (TTM)-9.64%
Revenue growth 3Y24.3%
Revenue growth 5Y11.42%
Sales Q2Q%2.15%

3.2 Future

  • TEN is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.48% yearly.
  • Based on estimates for the next years, TEN will show a small growth in Revenue. The Revenue will grow by 1.51% on average per year.
EPS Next Y7.74%
EPS Next 2Y2.2%
EPS Next 3Y3.58%
EPS Next 5Y-0.48%
Revenue Next Year-4.18%
Revenue Next 2Y-2.02%
Revenue Next 3Y-0.36%
Revenue Next 5Y1.51%

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.
TEN.MI Yearly Revenue VS EstimatesTEN.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B
TEN.MI Yearly EPS VS EstimatesTEN.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 2 3

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6

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 12.32, which indicates a correct valuation of TEN.
  • Based on the Price/Earnings ratio, TEN is valued a bit cheaper than 66.67% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of TEN to the average of the S&P500 Index (27.67), we can say TEN is valued rather cheaply.
  • With a Price/Forward Earnings ratio of 12.30, TEN is valued correctly.
  • TEN's Price/Forward Earnings is on the same level as the industry average.
  • When comparing the Price/Forward Earnings ratio of TEN to the average of the S&P500 Index (27.20), we can say TEN is valued rather cheaply.
Industry RankSector Rank
PE 12.32
Fwd PE 12.3
TEN.MI Price Earnings VS Forward Price EarningsTEN.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, TEN is valued cheaper than 88.89% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of TEN indicates a somewhat cheap valuation: TEN is cheaper than 69.44% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 7.11
EV/EBITDA 2.34
TEN.MI Per share dataTEN.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • TEN has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.59
PEG (5Y)0.53
EPS Next 2Y2.2%
EPS Next 3Y3.58%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • TEN has a Yearly Dividend Yield of 3.70%.
  • TEN's Dividend Yield is a higher than the industry average which is at 3.48.
  • Compared to an average S&P500 Dividend Yield of 1.82, TEN pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.7%

5.2 History

  • The dividend of TEN is nicely growing with an annual growth rate of 10.42%!
Dividend Growth(5Y)10.42%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 44.97% of the earnings are spent on dividend by TEN. This is a bit on the high side, but may be sustainable.
DP44.97%
EPS Next 2Y2.2%
EPS Next 3Y3.58%
TEN.MI Yearly Income VS Free CF VS DividendTEN.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B
TEN.MI Dividend Payout.TEN.MI Dividend Payout, showing the Payout Ratio.TEN.MI Dividend Payout.PayoutRetained Earnings

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TENARIS SA

BIT:TEN (2/5/2026, 7:00:00 PM)

19.46

-0.02 (-0.08%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)10-29
Earnings (Next)02-18
Inst Owners13.4%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap9.82B
Revenue(TTM)11.83B
Net Income(TTM)2.00B
Analysts75.79
Price Target18.99 (-2.42%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.7%
Yearly Dividend0.56
Dividend Growth(5Y)10.42%
DP44.97%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-7.37%
Min EPS beat(2)-11.07%
Max EPS beat(2)-3.68%
EPS beat(4)1
Avg EPS beat(4)2.73%
Min EPS beat(4)-19.77%
Max EPS beat(4)45.42%
EPS beat(8)4
Avg EPS beat(8)10.86%
EPS beat(12)6
Avg EPS beat(12)7.64%
EPS beat(16)9
Avg EPS beat(16)9.55%
Revenue beat(2)2
Avg Revenue beat(2)2.76%
Min Revenue beat(2)2.14%
Max Revenue beat(2)3.37%
Revenue beat(4)3
Avg Revenue beat(4)2.06%
Min Revenue beat(4)-1.14%
Max Revenue beat(4)3.88%
Revenue beat(8)6
Avg Revenue beat(8)2.83%
Revenue beat(12)10
Avg Revenue beat(12)2.95%
Revenue beat(16)14
Avg Revenue beat(16)2.58%
PT rev (1m)0%
PT rev (3m)3.9%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-26.36%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.56%
Revenue NQ rev (1m)-0.13%
Revenue NQ rev (3m)0.61%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.07%
Valuation
Industry RankSector Rank
PE 12.32
Fwd PE 12.3
P/S 0.98
P/FCF 7.11
P/OCF 5.04
P/B 0.68
P/tB 0.74
EV/EBITDA 2.34
EPS(TTM)1.58
EY8.12%
EPS(NY)1.58
Fwd EY8.13%
FCF(TTM)2.74
FCFY14.06%
OCF(TTM)3.86
OCFY19.85%
SpS19.83
BVpS28.56
TBVpS26.28
PEG (NY)1.59
PEG (5Y)0.53
Graham Number31.86
Profitability
Industry RankSector Rank
ROA 9.77%
ROE 11.74%
ROCE 12.28%
ROIC 10.23%
ROICexc 12.25%
ROICexgc 13.45%
OM 18.86%
PM (TTM) 16.91%
GM 34.05%
FCFM 13.8%
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
ROICexgc growth 3Y37.2%
ROICexgc 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-Score6
Asset Turnover0.58
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.29
Debt/EBITDA 0.03
Cap/Depr 108.27%
Cap/Sales 5.68%
Interest Coverage 250
Cash Conversion 80.79%
Profit Quality 81.61%
Current Ratio 4.08
Quick Ratio 2.55
Altman-Z 4.58
F-Score6
WACC7.75%
ROIC/WACC1.32
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)-17.98%
EPS 3Y24.77%
EPS 5Y23.23%
EPS Q2Q%10.26%
EPS Next Y7.74%
EPS Next 2Y2.2%
EPS Next 3Y3.58%
EPS Next 5Y-0.48%
Revenue 1Y (TTM)-9.64%
Revenue growth 3Y24.3%
Revenue growth 5Y11.42%
Sales Q2Q%2.15%
Revenue Next Year-4.18%
Revenue Next 2Y-2.02%
Revenue Next 3Y-0.36%
Revenue Next 5Y1.51%
EBIT growth 1Y-17.16%
EBIT growth 3Y47.51%
EBIT growth 5Y24.84%
EBIT Next Year18.88%
EBIT Next 3Y5.97%
EBIT Next 5Y2.42%
FCF growth 1Y-53.5%
FCF growth 3YN/A
FCF growth 5Y12.92%
OCF growth 1Y-43.56%
OCF growth 3Y188.73%
OCF growth 5Y13.41%

TENARIS SA / TEN.MI FAQ

What is the ChartMill fundamental rating of TENARIS SA (TEN.MI) stock?

ChartMill assigns a fundamental rating of 7 / 10 to TEN.MI.


What is the valuation status of TENARIS SA (TEN.MI) stock?

ChartMill assigns a valuation rating of 6 / 10 to TENARIS SA (TEN.MI). This can be considered as Fairly Valued.


How profitable is TENARIS SA (TEN.MI) stock?

TENARIS SA (TEN.MI) has a profitability rating of 8 / 10.


What are the PE and PB ratios of TENARIS SA (TEN.MI) stock?

The Price/Earnings (PE) ratio for TENARIS SA (TEN.MI) is 12.32 and the Price/Book (PB) ratio is 0.68.


Can you provide the dividend sustainability for TEN stock?

The dividend rating of TENARIS SA (TEN.MI) is 6 / 10 and the dividend payout ratio is 44.97%.