Tenaris S.A. (TS) is a publicly traded company in the Energy — Oil & Gas Equipment & Services industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Tenaris S.A., together with its subsidiaries, manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
Is Tenaris S.A. stock overvalued or undervalued in 2026?
Tenaris S.A. (TS) trades at 16.5× earnings (P/E), against a median of 17.3× across the 140 energy companies above $2bn in Kaplio's universe. No valuation verdict: it is a cyclical and today's P/E (16.5) does not tell whether it is cheap.
Kaplio overview: Tenaris S.A.
Market cap $32B · 52 weeks $38 – $64 (6 % below the high) · P/E 16.5× · 2027 expected P/E 14.0× · Dividend 2.9 % · 5 years rising · Next earnings November 4, 2026 · expected EPS $0.80 · Closing price, Oct 30 · accounts published Aug 5.
- Valuation: P/E 16.5× (no verdict).
- Business: 5-year ROIC 12.1 % (solid).
- Balance sheet: Net cash/EBITDA 0.0× (solid).
- Earnings: 8 of 8 (uneven).
What would it be worth at its usual multiples?
No valuation verdict: it is a cyclical and today's P/E (16.5) does not tell whether it is cheap.
In cyclicals the P/E misleads; on its average earnings over 10 years it trades at 22.8 times.
What matters in energy: 5 of 7 pass
- FCF yield 5.5 %, fails.
- Capex / Revenue 5.2 %, fails.
- 5y avg ROIC 12.1 %, passes.
- Positive FCF through the cycle 8 de 10 ejercicios, passes, near the threshold.
- Dividend coverage (FCF / div) 2.2×, passes.
- Net debt / EBITDA −0.0×, passes.
- EV/EBITDA vs own 10y 10.5×, passes.
- P/E read in reverse (cyclicals) 16.5×, info.
Against its peers (reference peers) — Tenaris S.A.: P/E 16.5×; EV/EBITDA 10.5×; ROIC 9.7 %; $32.4B. Halliburton Company (P/E 15.1×; EV/EBITDA 9.0×; ROIC 11.7 %; $29.9B), Baker Hughes Company (P/E 19.0×; EV/EBITDA 13.5×; ROIC 8.2 %; $54.8B), Slb N.V. (P/E 26.3×; EV/EBITDA 12.4×; ROIC 8.7 %; $79.3B).
Expensive or cheap against its last 9 years?
P/E at each close: today 16.5× · median 9.7× · minimum 4.2× · maximum 43.5× · cheap below 6.4× · expensive above 17.3×. It has been cheaper than today 77% of the time over its last 9 years.
Dividend
solid · Yield 2.9 % ($1.73 per ADS in 2025) · Years raising it 5 · 5-year growth +65 % a year · Free cash flow coverage 3.4× · With $1,000 invested today you'd collect $28.80 a year ($2.40 a month).
Profitability
| Return on Equity | 11.22% |
| Return on Invested Capital | 9.67% |
| Return on Assets | 9.35% |
| Gross Margin | 33.72% |
| Operating Margin | 18.71% |
| Net Margin | 15.87% |
Financial Health
| Debt / Equity | 0.03 |
| Current Ratio | 4.07 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 6.32 |
Price Performance
| 1 month | +8.37% |
| 3 months | +5.20% |
| Year-to-date | +56.85% |
| 1 year | +51.53% |
| 3 years | +89.48% |
| 5 years | +160.52% |
| 10 years | +119.31% |
Dividend History
Paid in the last 12 months: $1.7800 per share in 2 payments.
| Date | Amount |
|---|---|
| 2026-11-24 | $1.1800 |
| 2026-05-19 | $1.2000 |
| 2025-11-25 | $0.5800 |
| 2025-05-20 | $1.1200 |
| 2024-11-19 | $0.5400 |
| 2024-05-20 | $0.8000 |
| 2023-11-20 | $0.4000 |
| 2023-05-22 | $0.6800 |
| 2022-11-21 | $0.3400 |
| 2022-05-23 | $0.5600 |
Amounts adjusted for stock splits.
Related companies: BKR · WFRD · NESR · SLB · HAL · NOV · WHD
Explore sector: Energy · Oil & Gas Equipment & Services
More sections of TS: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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