TENARIS SA (TEN.MI) Fundamental Analysis & Valuation

BIT:TEN • LU2598331598

23.19 EUR
+0.43 (+1.89%)
Last: Mar 10, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This TEN.MI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Overall TEN gets a fundamental rating of 6 out of 10. We evaluated TEN against 39 industry peers in the Energy Equipment & Services industry. TEN has an excellent financial health rating, but there are some minor concerns on its profitability. TEN has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. TEN.MI Profitability Analysis

1.1 Basic Checks

  • In the past year TEN was profitable.
  • In the past year TEN had a positive cash flow from operations.
  • TEN had positive earnings in each of the past 5 years.
  • Each year in the past 5 years TEN had a positive operating cash flow.
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 2025 0 1B 2B 3B 4B

1.2 Ratios

  • TEN has a better Return On Assets (9.77%) than 84.62% of its industry peers.
  • TEN has a Return On Equity (11.74%) which is comparable to the rest of the industry.
  • Looking at the Return On Invested Capital, with a value of 9.89%, TEN is in the better half of the industry, outperforming 61.54% of the companies in the same industry.
Industry RankSector Rank
ROA 9.77%
ROE 11.74%
ROIC 9.89%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
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 2025 0 5 -5 10 15 20

1.3 Margins

  • TEN has a Profit Margin of 16.91%. This is in the better half of the industry: TEN outperforms 79.49% of its industry peers.
  • TEN's Profit Margin has declined in the last couple of years.
  • The Operating Margin of TEN (18.86%) is better than 74.36% of its industry peers.
  • In the last couple of years the Operating Margin of TEN has declined.
  • Looking at the Gross Margin, with a value of 34.05%, TEN is in the better half of the industry, outperforming 74.36% 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 3Y-10.01%
OM growth 5YN/A
PM growth 3Y-9.42%
PM growth 5YN/A
GM growth 3Y-4.83%
GM growth 5Y10.81%
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 2025 0 10 -10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

9

2. TEN.MI Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so TEN is still creating some value.
  • There is no outstanding debt for TEN. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
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

  • An Altman-Z score of 4.87 indicates that TEN is not in any danger for bankruptcy at the moment.
  • TEN has a better Altman-Z score (4.87) than 92.31% of its industry peers.
  • The Debt to FCF ratio of TEN is 0.29, which is an excellent value as it means it would take TEN, only 0.29 years of fcf income to pay off all of its debts.
  • TEN's Debt to FCF ratio of 0.29 is amongst the best of the industry. TEN outperforms 94.87% 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.
  • With an excellent Debt to Equity ratio value of 0.01, TEN belongs to the best of the industry, outperforming 89.74% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.29
Altman-Z 4.87
ROIC/WACC1.3
WACC7.6%
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 2025 0 5B 10B 15B

2.3 Liquidity

  • TEN has a Current Ratio of 4.08. This indicates that TEN is financially healthy and has no problem in meeting its short term obligations.
  • With an excellent Current ratio value of 4.08, TEN belongs to the best of the industry, outperforming 87.18% of the companies in the same industry.
  • 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.
  • The Quick ratio of TEN (2.55) is better than 82.05% 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

4

3. TEN.MI Growth Analysis

3.1 Past

  • TEN shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 2.79%.
  • Measured over the past years, TEN shows a decrease in Earnings Per Share. The EPS has been decreasing by -5.20% on average per year.
  • TEN shows a decrease in Revenue. In the last year, the revenue decreased by -4.33%.
  • The Revenue has been growing by 18.41% on average over the past years. This is quite good.
EPS 1Y (TTM)2.79%
EPS 3Y-5.2%
EPS 5YN/A
EPS Q2Q%-6.38%
Revenue 1Y (TTM)-4.33%
Revenue growth 3Y0.62%
Revenue growth 5Y18.41%
Sales Q2Q%5.27%

3.2 Future

  • TEN is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 2.29% yearly.
  • The Revenue is expected to grow by 1.81% on average over the next years.
EPS Next Y-1.5%
EPS Next 2Y3.05%
EPS Next 3Y4.26%
EPS Next 5Y2.29%
Revenue Next Year0.5%
Revenue Next 2Y1.89%
Revenue Next 3Y2.07%
Revenue Next 5Y1.81%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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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5

4. TEN.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 14.58, the valuation of TEN can be described as correct.
  • Based on the Price/Earnings ratio, TEN is valued a bit cheaper than 69.23% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of TEN to the average of the S&P500 Index (26.45), we can say TEN is valued slightly cheaper.
  • A Price/Forward Earnings ratio of 14.78 indicates a correct valuation of TEN.
  • TEN's Price/Forward Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.65, TEN is valued a bit cheaper.
Industry RankSector Rank
PE 14.58
Fwd PE 14.78
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 cheaply inside the industry as 97.44% of the companies are valued more expensively.
  • Based on the Price/Free Cash Flow ratio, TEN is valued a bit cheaper than 79.49% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.29
EV/EBITDA 2.92
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 decent profitability rating of TEN may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y3.05%
EPS Next 3Y4.26%

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

6

5. TEN.MI Dividend Analysis

5.1 Amount

  • TEN has a Yearly Dividend Yield of 3.39%.
  • TEN's Dividend Yield is a higher than the industry average which is at 3.20.
  • Compared to an average S&P500 Dividend Yield of 1.82, TEN pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.39%

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

  • TEN pays out 44.97% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • TEN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP44.97%
EPS Next 2Y3.05%
EPS Next 3Y4.26%
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 2025 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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TEN.MI Fundamentals: All Metrics, Ratios and Statistics

TENARIS SA

BIT:TEN (3/10/2026, 5:36:15 PM)

23.19

+0.43 (+1.89%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-18
Earnings (Next)05-06
Inst Owners12.75%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap11.71B
Revenue(TTM)11.98B
Net Income(TTM)2.00B
Analysts72
Price Target21.8 (-5.99%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.39%
Yearly Dividend0.58
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)14.33%
PT rev (3m)14.9%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.85%
EPS NY rev (1m)-3.06%
EPS NY rev (3m)3.48%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.37%
Revenue NY rev (1m)0.22%
Revenue NY rev (3m)-0.3%
Valuation
Industry RankSector Rank
PE 14.58
Fwd PE 14.78
P/S 1.14
P/FCF 8.29
P/OCF 5.87
P/B 0.79
P/tB 0.86
EV/EBITDA 2.92
EPS(TTM)1.59
EY6.86%
EPS(NY)1.57
Fwd EY6.76%
FCF(TTM)2.8
FCFY12.07%
OCF(TTM)3.95
OCFY17.04%
SpS20.28
BVpS29.21
TBVpS26.89
PEG (NY)N/A
PEG (5Y)N/A
Graham Number32.33
Profitability
Industry RankSector Rank
ROA 9.77%
ROE 11.74%
ROCE 12.28%
ROIC 9.89%
ROICexc 11.83%
ROICexgc 12.99%
OM 18.86%
PM (TTM) 16.91%
GM 34.05%
FCFM 13.8%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-10.01%
OM growth 5YN/A
PM growth 3Y-9.42%
PM growth 5YN/A
GM growth 3Y-4.83%
GM growth 5Y10.81%
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 4.87
F-Score6
WACC7.6%
ROIC/WACC1.3
Cap/Depr(3y)108.13%
Cap/Depr(5y)86.18%
Cap/Sales(3y)4.98%
Cap/Sales(5y)4.41%
Profit Quality(3y)101.7%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)2.79%
EPS 3Y-5.2%
EPS 5YN/A
EPS Q2Q%-6.38%
EPS Next Y-1.5%
EPS Next 2Y3.05%
EPS Next 3Y4.26%
EPS Next 5Y2.29%
Revenue 1Y (TTM)-4.33%
Revenue growth 3Y0.62%
Revenue growth 5Y18.41%
Sales Q2Q%5.27%
Revenue Next Year0.5%
Revenue Next 2Y1.89%
Revenue Next 3Y2.07%
Revenue Next 5Y1.81%
EBIT growth 1Y-17.16%
EBIT growth 3Y-9.46%
EBIT growth 5YN/A
EBIT Next Year26.22%
EBIT Next 3Y10.76%
EBIT Next 5Y6.63%
FCF growth 1Y-35.11%
FCF growth 3Y37.06%
FCF growth 5Y8.37%
OCF growth 1Y-28.2%
OCF growth 3Y30.59%
OCF growth 5Y11.32%

TENARIS SA / TEN.MI FAQ

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

ChartMill assigns a fundamental rating of 6 / 10 to TEN.MI.


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

ChartMill assigns a valuation rating of 5 / 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 6 / 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 14.58 and the Price/Book (PB) ratio is 0.79.


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%.