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Tenaris S.A. TEN.MI

IT · Borsa Italiana · XMIL · stock · Energy · website

Tenaris S.A. statistics & valuation

P / E12.4×
P / S2.0×
P / B1.4×
P / FCF12.1×
Net margin16.1%
FCF margin16.5%
Net cash$123.7M
Enterprise value$27.2B
Earnings yield EBIT/EV9.6%
Return on capital12.9%
Graham number +9.9%$26.02

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($26.02); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
21.70% 26.40% 16.30% 16.10% 2022202320242025
Gross margin (%)
39.70% 41.70% 35.00% 34.40% 2022202320242025
Operating margin (%)
25.90% 28.70% 20.10% 19.10% 2022202320242025
Return on equity (%)
18.40% 23.30% 12.30% 11.60% 2022202320242025
Shares outstanding
1.01B 1.01B 1.01B 1.01B 2022202320242025
Net debt ($)
-$250.6M -$920.0M -$92.9M -$123.7M 2022202320242025
Share buybacks ($)
$0 $213.7M $1.44B $1.36B 2022202320242025
Return on assets (%)
14.50% 18.60% 10.00% 9.60% 2022202320242025
Free cash flow margin (%)
6.50% 25.40% 17.30% 16.50% 2022202320242025
Debt / equity (×)
0.06× 0.04× 0.04× 0.03× 2022202320242025
EPS ($)
$2.16 $3.32 $1.81 $1.83 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Tenaris S.A. trades at about 12.9× earnings — above its 10-year norm (10-year range 4.4×–10.3×, median 10.2×).

4.4× 12.9×

Shaded band = 10-year range (4.4×–10.3×); dot = today's 12.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin34.4%35.0%41.7%39.7%
Operating margin19.1%20.1%28.7%25.9%
Net margin16.1%16.3%26.4%21.7%
FCF margin16.5%17.3%25.4%6.5%
Return on assets9.6%10.0%18.6%14.5%
Return on equity11.6%12.3%23.3%18.4%
Debt / equity0.00×0.00×0.00×0.00×
Current ratio3.873.503.623.04

Computed from company filings · IT · as of 2025-12-31. Figures in USD. Facts plus Stocktoria's own computed scores — not investment advice.