TENARIS SA (TEN.MI) Stock Fundamental Analysis
BIT:TEN - Euronext Milan - LU2598331598 - Common Stock - Currency: EUR
Taking everything into account, TEN scores 7 out of 10 in our fundamental rating. TEN was compared to 35 industry peers in the Energy Equipment & Services industry. Both the health and profitability get an excellent rating, making TEN a very profitable company, without any liquidiy or solvency issues. TEN has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year TEN was profitable.
TEN had a positive operating cash flow in the past year.
TEN had positive earnings in 4 of the past 5 years.
Each year in the past 5 years TEN had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 9.96%, TEN belongs to the top of the industry, outperforming 82.86% of the companies in the same industry.
Looking at the Return On Equity, with a value of 12.27%, TEN is in line with its industry, outperforming 57.14% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 11.07%, TEN is in the better half of 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 in line with the industry average of 14.59%.
The last Return On Invested Capital (11.07%) for TEN is well below the 3 year average (16.25%), which needs to be investigated, but indicates that TEN had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.96% | ||
| ROE | 12.27% | ||
| ROIC | 11.07% |
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
TEN has a Profit Margin of 16.26%. This is in the better half of the industry: TEN outperforms 77.14% of its industry peers.
TEN's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 18.90%, TEN is in the better half of the industry, outperforming 65.71% of the companies in the same industry.
In the last couple of years the Operating Margin of TEN has grown nicely.
TEN's Gross Margin of 35.04% is fine compared to the rest of the industry. TEN outperforms 74.29% of its industry peers.
In the last couple of years the Gross Margin of TEN has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 18.9% | ||
| PM (TTM) | 16.26% | ||
| GM | 35.04% |
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
TEN has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
TEN has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, TEN has less shares outstanding
The debt/assets ratio for TEN has been reduced compared to a year ago.
2.2 Solvency
TEN has an Altman-Z score of 4.13. This indicates that TEN is financially healthy and has little risk of bankruptcy at the moment.
TEN has a better Altman-Z score (4.13) than 97.14% of its industry peers.
The Debt to FCF ratio of TEN is 0.27, which is an excellent value as it means it would take TEN, only 0.27 years of fcf income to pay off all of its debts.
TEN has a better Debt to FCF ratio (0.27) than 97.14% of its industry peers.
A Debt/Equity ratio of 0.01 indicates that TEN is not too dependend on debt financing.
TEN has a Debt to Equity ratio of 0.01. This is amongst the best in the industry. TEN outperforms 91.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.27 | ||
| Altman-Z | 4.13 |
ROIC/WACC1.46
WACC7.56%
2.3 Liquidity
TEN has a Current Ratio of 3.50. This indicates that TEN is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 3.50, TEN belongs to the best of the industry, outperforming 91.43% of the companies in the same industry.
A Quick Ratio of 2.10 indicates that TEN has no problem at all paying its short term obligations.
TEN's Quick ratio of 2.10 is fine compared to the rest of the industry. TEN outperforms 77.14% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.5 | ||
| Quick Ratio | 2.1 |
3. Growth
3.1 Past
The earnings per share for TEN have decreased strongly by -32.13% in the last year.
TEN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 29.11% yearly.
The Revenue for TEN has decreased by -15.77% in the past year. This is quite bad
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)-32.13%
EPS 3Y24.77%
EPS 5Y29.11%
EPS Q2Q%-2.08%
Revenue 1Y (TTM)-15.77%
Revenue growth 3Y24.3%
Revenue growth 5Y11.42%
Sales Q2Q%-16.68%
3.2 Future
The Earnings Per Share is expected to decrease by -7.81% on average over the next years.
The Revenue is expected to decrease by -2.66% on average over the next years.
EPS Next Y-18.39%
EPS Next 2Y-4.77%
EPS Next 3Y-11.71%
EPS Next 5Y-7.81%
Revenue Next Year-0.34%
Revenue Next 2Y0.98%
Revenue Next 3Y0.56%
Revenue Next 5Y-2.66%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 8.31, which indicates a very decent valuation of TEN.
74.29% of the companies in the same industry are more expensive than TEN, based on the Price/Earnings ratio.
TEN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 29.35.
A Price/Forward Earnings ratio of 10.17 indicates a reasonable valuation of TEN.
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 (22.10), we can say TEN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.31 | ||
| Fwd PE | 10.17 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TEN indicates a rather cheap valuation: TEN is cheaper than 94.29% of the companies listed in the same industry.
TEN's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. TEN is cheaper than 68.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 4.65 | ||
| EV/EBITDA | 1.73 |
4.3 Compensation for Growth
TEN has a very decent profitability rating, which may justify a higher PE ratio.
A cheap valuation may be justified as TEN's earnings are expected to decrease with -11.71% in the coming years.
PEG (NY)N/A
PEG (5Y)0.29
EPS Next 2Y-4.77%
EPS Next 3Y-11.71%
5. Dividend
5.1 Amount
TEN has a Yearly Dividend Yield of 3.57%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 7.05, TEN pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.33, TEN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.57% |
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
TEN pays out 37.21% of its income as dividend. This is a sustainable payout ratio.
DP37.21%
EPS Next 2Y-4.77%
EPS Next 3Y-11.71%
BIT:TEN (3/7/2025, 7:00:00 PM)
17.275
-0.08 (-0.43%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)
Earnings (Next)
Inst Owners11.99%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap9.26B
Analysts72.5
Price Target20.44 (18.32%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.57% |
Yearly Dividend0.62
Dividend Growth(5Y)10.42%
DP37.21%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)110.84%
Min EPS beat(2)18.2%
Max EPS beat(2)203.48%
EPS beat(4)3
Avg EPS beat(4)50.87%
Min EPS beat(4)-38.91%
Max EPS beat(4)203.48%
EPS beat(8)6
Avg EPS beat(8)35.84%
EPS beat(12)8
Avg EPS beat(12)27.28%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)2.91%
Min Revenue beat(2)0.75%
Max Revenue beat(2)5.06%
Revenue beat(4)3
Avg Revenue beat(4)1.7%
Min Revenue beat(4)-0.39%
Max Revenue beat(4)5.06%
Revenue beat(8)7
Avg Revenue beat(8)3.25%
Revenue beat(12)11
Avg Revenue beat(12)2.63%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)2.8%
PT rev (3m)6.27%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-9.8%
EPS NY rev (3m)-5.66%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.5%
Revenue NY rev (1m)-0.61%
Revenue NY rev (3m)2.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.31 | ||
| Fwd PE | 10.17 | ||
| P/S | 0.8 | ||
| P/FCF | 4.65 | ||
| P/OCF | 3.51 | ||
| P/B | 0.61 | ||
| P/tB | 0.66 | ||
| EV/EBITDA | 1.73 |
EPS(TTM)2.08
EY12.04%
EPS(NY)1.7
Fwd EY9.83%
FCF(TTM)3.71
FCFY21.51%
OCF(TTM)4.93
OCFY28.51%
SpS21.52
BVpS28.51
TBVpS26.18
PEG (NY)N/A
PEG (5Y)0.29
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.96% | ||
| ROE | 12.27% | ||
| ROCE | 13.29% | ||
| ROIC | 11.07% | ||
| ROICexc | 13.35% | ||
| ROICexgc | 14.7% | ||
| OM | 18.9% | ||
| PM (TTM) | 16.26% | ||
| GM | 35.04% | ||
| FCFM | 17.26% |
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-Score5
Asset Turnover0.61
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 0.27 | ||
| Debt/EBITDA | 0.04 | ||
| Cap/Depr | 111.3% | ||
| Cap/Sales | 5.62% | ||
| Interest Coverage | 38.96 | ||
| Cash Conversion | 95.53% | ||
| Profit Quality | 106.16% | ||
| Current Ratio | 3.5 | ||
| Quick Ratio | 2.1 | ||
| Altman-Z | 4.13 |
F-Score5
WACC7.56%
ROIC/WACC1.46
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)-32.13%
EPS 3Y24.77%
EPS 5Y29.11%
EPS Q2Q%-2.08%
EPS Next Y-18.39%
EPS Next 2Y-4.77%
EPS Next 3Y-11.71%
EPS Next 5Y-7.81%
Revenue 1Y (TTM)-15.77%
Revenue growth 3Y24.3%
Revenue growth 5Y11.42%
Sales Q2Q%-16.68%
Revenue Next Year-0.34%
Revenue Next 2Y0.98%
Revenue Next 3Y0.56%
Revenue Next 5Y-2.66%
EBIT growth 1Y-44.72%
EBIT growth 3Y47.51%
EBIT growth 5Y24.84%
EBIT Next Year23.93%
EBIT Next 3Y4.4%
EBIT Next 5Y-0.02%
FCF growth 1Y-42.74%
FCF growth 3YN/A
FCF growth 5Y12.92%
OCF growth 1Y-34.79%
OCF growth 3Y188.73%
OCF growth 5Y13.41%