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TENARIS SA-ADR (TS) Stock Fundamental Analysis

NYSE:TS - New York Stock Exchange, Inc. - US88031M1099 - ADR - Currency: USD

38.39  -0.36 (-0.93%)

After market: 38.39 0 (0%)

Fundamental Rating

7

Taking everything into account, TS scores 7 out of 10 in our fundamental rating. TS was compared to 63 industry peers in the Energy Equipment & Services industry. TS has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. TS is valued quite cheap, but it does not seem to be growing. Finally TS also has an excellent dividend rating. These ratings would make TS suitable for value and dividend investing!


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

TS had positive earnings in the past year.
In the past year TS had a positive cash flow from operations.
Of the past 5 years TS 4 years were profitable.
Each year in the past 5 years TS had a positive operating cash flow.
TS Yearly Net Income VS EBIT VS OCF VS FCFTS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B

1.2 Ratios

TS has a Return On Assets of 8.76%. This is amongst the best in the industry. TS outperforms 84.13% of its industry peers.
TS's Return On Equity of 10.52% is fine compared to the rest of the industry. TS outperforms 63.49% of its industry peers.
Looking at the Return On Invested Capital, with a value of 9.58%, TS is in the better half of the industry, outperforming 74.60% of the companies in the same industry.
TS had an Average Return On Invested Capital over the past 3 years of 16.25%. This is significantly above the industry average of 8.44%.
The last Return On Invested Capital (9.58%) for TS is well below the 3 year average (16.25%), which needs to be investigated, but indicates that TS had better years and this may not be a problem.
Industry RankSector 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
TS Yearly ROA, ROE, ROICTS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 15 20

1.3 Margins

With an excellent Profit Margin value of 15.05%, TS belongs to the best of the industry, outperforming 88.89% of the companies in the same industry.
In the last couple of years the Profit Margin of TS has grown nicely.
TS has a better Operating Margin (17.56%) than 79.37% of its industry peers.
TS's Operating Margin has improved in the last couple of years.
TS has a Gross Margin of 34.01%. This is in the better half of the industry: TS outperforms 68.25% of its industry peers.
In the last couple of years the Gross Margin of TS has grown nicely.
Industry RankSector 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%
TS Yearly Profit, Operating, Gross MarginsTS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30 40

10

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so TS is creating value.
Compared to 1 year ago, TS has less shares outstanding
Compared to 5 years ago, TS has less shares outstanding
TS has a better debt/assets ratio than last year.
TS Yearly Shares OutstandingTS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
TS Yearly Total Debt VS Total AssetsTS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

An Altman-Z score of 6.16 indicates that TS is not in any danger for bankruptcy at the moment.
The Altman-Z score of TS (6.16) is better than 96.83% of its industry peers.
TS has a debt to FCF ratio of 0.24. This is a very positive value and a sign of high solvency as it would only need 0.24 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 0.24, TS belongs to the best of the industry, outperforming 90.48% of the companies in the same industry.
A Debt/Equity ratio of 0.01 indicates that TS is not too dependend on debt financing.
TS's Debt to Equity ratio of 0.01 is amongst the best of the industry. TS outperforms 95.24% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.24
Altman-Z 6.16
ROIC/WACC1.27
WACC7.53%
TS Yearly LT Debt VS Equity VS FCFTS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

TS has a Current Ratio of 4.08. This indicates that TS is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of TS (4.08) is better than 88.89% of its industry peers.
TS has a Quick Ratio of 2.53. This indicates that TS is financially healthy and has no problem in meeting its short term obligations.
TS's Quick ratio of 2.53 is amongst the best of the industry. TS outperforms 88.89% of its industry peers.
Industry RankSector Rank
Current Ratio 4.08
Quick Ratio 2.53
TS Yearly Current Assets VS Current LiabilitesTS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

3

3. Growth

3.1 Past

The earnings per share for TS have decreased strongly by -46.18% in the last year.
TS shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.23% yearly.
Looking at the last year, TS shows a very negative growth in Revenue. The Revenue has decreased by -15.28% in the last year.
Measured over the past years, TS shows a quite strong growth in Revenue. The Revenue has been growing by 11.42% on average per year.
EPS 1Y (TTM)-46.18%
EPS 3Y24.58%
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

TS is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -3.09% yearly.
Based on estimates for the next years, TS 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

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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.
TS Yearly Revenue VS EstimatesTS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B
TS Yearly EPS VS EstimatesTS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 2 4 6

7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 11.78, which indicates a very decent valuation of TS.
Compared to the rest of the industry, the Price/Earnings ratio of TS indicates a somewhat cheap valuation: TS is cheaper than 73.02% of the companies listed in the same industry.
TS is valuated cheaply when we compare the Price/Earnings ratio to 27.45, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 8.67, the valuation of TS can be described as very reasonable.
Based on the Price/Forward Earnings ratio, TS is valued cheaply inside the industry as 87.30% of the companies are valued more expensively.
TS is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.90, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 11.78
Fwd PE 8.67
TS Price Earnings VS Forward Price EarningsTS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as TS.
Based on the Price/Free Cash Flow ratio, TS is valued a bit cheaper than 63.49% of the companies in the same industry.
Industry RankSector Rank
P/FCF 9.83
EV/EBITDA 5.65
TS Per share dataTS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

TS's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of TS may justify a higher PE ratio.
PEG (NY)0.62
PEG (5Y)0.51
EPS Next 2Y10.98%
EPS Next 3Y7.04%

7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.56%, TS is a good candidate for dividend investing.
TS's Dividend Yield is rather good when compared to the industry average which is at 3.70. TS pays more dividend than 85.71% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.42, TS pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.56%

5.2 History

On average, the dividend of TS grows each year by 10.42%, which is quite nice.
TS has been paying a dividend for at least 10 years, so it has a reliable track record.
TS has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)10.42%
Div Incr Years3
Div Non Decr Years3
TS Yearly Dividends per shareTS Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

TS pays out 41.95% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP41.95%
EPS Next 2Y10.98%
EPS Next 3Y7.04%
TS Yearly Income VS Free CF VS DividendTS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B
TS Dividend Payout.TS Dividend Payout, showing the Payout Ratio.TS Dividend Payout.PayoutRetained Earnings

TENARIS SA-ADR

NYSE:TS (7/3/2025, 8:13:56 PM)

After market: 38.39 0 (0%)

38.39

-0.36 (-0.93%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)05-01 2025-05-01/bmo
Earnings (Next)07-30 2025-07-30
Inst Owners12.52%
Inst Owner Change3.43%
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap20.58B
Analysts72.94
Price Target42.2 (9.92%)
Short Float %4.08%
Short Ratio3.42
Dividend
Industry RankSector Rank
Dividend Yield 4.56%
Yearly Dividend0.67
Dividend Growth(5Y)10.42%
DP41.95%
Div Incr Years3
Div Non Decr Years3
Ex-Date05-20 2025-05-20 (1.12)
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)-7.62%
PT rev (3m)-1.81%
EPS NQ rev (1m)0%
EPS NQ rev (3m)102.98%
EPS NY rev (1m)0%
EPS NY rev (3m)13.12%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.43%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.7%
Valuation
Industry RankSector Rank
PE 11.78
Fwd PE 8.67
P/S 1.71
P/FCF 9.83
P/OCF 7.35
P/B 1.2
P/tB 1.3
EV/EBITDA 5.65
EPS(TTM)3.26
EY8.49%
EPS(NY)4.43
Fwd EY11.54%
FCF(TTM)3.91
FCFY10.18%
OCF(TTM)5.22
OCFY13.61%
SpS22.4
BVpS32.02
TBVpS29.49
PEG (NY)0.62
PEG (5Y)0.51
Profitability
Industry RankSector 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 RankSector 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 6.16
F-ScoreN/A
WACC7.53%
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 3Y24.58%
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%