TENARIS SA (TEN.MI) Fundamental Analysis & Valuation

BIT:TEN • LU2598331598

23.2 EUR
-0.12 (-0.51%)
Last: Mar 12, 2026, 07:00 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. While TEN has a great health rating, its profitability is only average at the moment. TEN is not valued too expensively and it also shows a decent growth rate.


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.
  • 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 2025 0 1B 2B 3B 4B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 9.77%, TEN belongs to the top of the industry, outperforming 84.62% of the companies in the same industry.
  • TEN has a Return On Equity (11.74%) which is comparable to the rest of the industry.
  • TEN's Return On Invested Capital of 9.89% is fine compared to the rest of the industry. TEN outperforms 61.54% of its industry peers.
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

  • The Profit Margin of TEN (16.91%) is better than 79.49% of its industry peers.
  • TEN's Profit Margin has declined in the last couple of years.
  • TEN has a better Operating Margin (18.86%) than 74.36% of its industry peers.
  • TEN's Operating Margin has declined 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 74.36% of the companies in the same industry.
  • TEN's Gross Margin has improved in the last couple of years.
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

  • TEN has an Altman-Z score of 4.94. This indicates that TEN is financially healthy and has little risk of bankruptcy at the moment.
  • TEN has a better Altman-Z score (4.94) than 89.74% 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.
  • The Debt to FCF ratio of TEN (0.29) is better than 94.87% 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 89.74% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.29
Altman-Z 4.94
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.
  • TEN has a Current ratio of 4.08. This is amongst the best in the industry. TEN outperforms 87.18% 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 Quick ratio of 2.55. This is amongst the best in the industry. TEN outperforms 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%.
  • TEN shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -5.20% yearly.
  • Looking at the last year, TEN shows a decrease in Revenue. The Revenue has decreased by -4.33% in the last year.
  • 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

  • The Earnings Per Share is expected to grow by 2.29% on average over the next years.
  • Based on estimates for the next years, TEN will show a small growth in Revenue. The Revenue will grow by 1.81% on average per year.
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

  • The EPS growth rate is accelerating: in the next years the growth will be better 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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5

4. TEN.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 14.59, the valuation of TEN can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of TEN indicates a somewhat cheap valuation: TEN is cheaper than 64.10% of the companies listed in the same industry.
  • TEN is valuated rather cheaply when we compare the Price/Earnings ratio to 25.71, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 14.82, which indicates a correct valuation of TEN.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of TEN is on the same level as its industry peers.
  • TEN is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 23.82, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 14.59
Fwd PE 14.82
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 94.87% of the companies are valued more expensively.
  • 79.49% of the companies in the same industry are more expensive than TEN, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 8.31
EV/EBITDA 3.04
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

  • TEN has a very decent profitability rating, which 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

  • With a Yearly Dividend Yield of 3.39%, TEN has a reasonable but not impressive dividend return.
  • 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

  • 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 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 (3/12/2026, 7:00:00 PM)

23.2

-0.12 (-0.51%)

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 (-6.03%)
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 14.59
Fwd PE 14.82
P/S 1.15
P/FCF 8.31
P/OCF 5.89
P/B 0.8
P/tB 0.86
EV/EBITDA 3.04
EPS(TTM)1.59
EY6.85%
EPS(NY)1.56
Fwd EY6.75%
FCF(TTM)2.79
FCFY12.03%
OCF(TTM)3.94
OCFY16.99%
SpS20.24
BVpS29.15
TBVpS26.83
PEG (NY)N/A
PEG (5Y)N/A
Graham Number32.29
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 4.94
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 14.59 and the Price/Book (PB) ratio is 0.8.


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%.