TENARIS SA (TW10.DE) Fundamental Analysis & Valuation

FRA:TW10 • LU2598331598

Current stock price

25.42 EUR
-0.23 (-0.9%)
Last:

This TW10.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. TW10.DE Profitability Analysis

1.1 Basic Checks

  • In the past year TW10 was profitable.
  • In the past year TW10 had a positive cash flow from operations.
  • In the past 5 years TW10 has always been profitable.
  • In the past 5 years TW10 always reported a positive cash flow from operatings.
TW10.DE Yearly Net Income VS EBIT VS OCF VS FCFTW10.DE 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

  • With an excellent Return On Assets value of 9.63%, TW10 belongs to the best of the industry, outperforming 83.78% of the companies in the same industry.
  • TW10 has a Return On Equity (11.64%) which is comparable to the rest of the industry.
  • TW10 has a better Return On Invested Capital (10.43%) than 67.57% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for TW10 is above the industry average of 10.23%.
Industry RankSector Rank
ROA 9.63%
ROE 11.64%
ROIC 10.43%
ROA(3y)12.72%
ROA(5y)12.07%
ROE(3y)15.73%
ROE(5y)14.95%
ROIC(3y)13.59%
ROIC(5y)12.49%
TW10.DE Yearly ROA, ROE, ROICTW10.DE 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

  • TW10's Profit Margin of 16.13% is fine compared to the rest of the industry. TW10 outperforms 78.38% of its industry peers.
  • TW10's Profit Margin has declined in the last couple of years.
  • With a decent Operating Margin value of 19.18%, TW10 is doing good in the industry, outperforming 72.97% of the companies in the same industry.
  • In the last couple of years the Operating Margin of TW10 has declined.
  • With a decent Gross Margin value of 34.39%, TW10 is doing good in the industry, outperforming 78.38% of the companies in the same industry.
  • TW10's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 19.18%
PM (TTM) 16.13%
GM 34.39%
OM growth 3Y-9.82%
OM growth 5YN/A
PM growth 3Y-9.42%
PM growth 5YN/A
GM growth 3Y-4.83%
GM growth 5Y10.81%
TW10.DE Yearly Profit, Operating, Gross MarginsTW10.DE 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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10

2. TW10.DE Health Analysis

2.1 Basic Checks

  • TW10 has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • The number of shares outstanding for TW10 has been reduced compared to 1 year ago.
  • TW10 has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, TW10 has an improved debt to assets ratio.
TW10.DE Yearly Shares OutstandingTW10.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
TW10.DE Yearly Total Debt VS Total AssetsTW10.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

2.2 Solvency

  • An Altman-Z score of 8.12 indicates that TW10 is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 8.12, TW10 belongs to the top of the industry, outperforming 91.89% of the companies in the same industry.
  • The Debt to FCF ratio of TW10 is 0.23, which is an excellent value as it means it would take TW10, only 0.23 years of fcf income to pay off all of its debts.
  • With an excellent Debt to FCF ratio value of 0.23, TW10 belongs to the best of the industry, outperforming 97.30% of the companies in the same industry.
  • TW10 has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
  • TW10 has a better Debt to Equity ratio (0.01) than 89.19% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.23
Altman-Z 8.12
ROIC/WACC1.39
WACC7.5%
TW10.DE Yearly LT Debt VS Equity VS FCFTW10.DE 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

  • TW10 has a Current Ratio of 3.87. This indicates that TW10 is financially healthy and has no problem in meeting its short term obligations.
  • With an excellent Current ratio value of 3.87, TW10 belongs to the best of the industry, outperforming 89.19% of the companies in the same industry.
  • A Quick Ratio of 2.33 indicates that TW10 has no problem at all paying its short term obligations.
  • The Quick ratio of TW10 (2.33) is better than 86.49% of its industry peers.
Industry RankSector Rank
Current Ratio 3.87
Quick Ratio 2.33
TW10.DE Yearly Current Assets VS Current LiabilitesTW10.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

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4

3. TW10.DE Growth Analysis

3.1 Past

  • TW10 shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 2.79%.
  • Measured over the past years, TW10 shows a decrease in Earnings Per Share. The EPS has been decreasing by -5.20% on average per year.
  • Looking at the last year, TW10 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.
  • The Revenue is expected to grow by 1.81% on average over the next years.
EPS Next Y1.81%
EPS Next 2Y4.43%
EPS Next 3Y5.04%
EPS Next 5Y2.29%
Revenue Next Year0.94%
Revenue Next 2Y2.3%
Revenue Next 3Y2.26%
Revenue Next 5Y1.81%

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 accelerating.
  • 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.
TW10.DE Yearly Revenue VS EstimatesTW10.DE 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
TW10.DE Yearly EPS VS EstimatesTW10.DE 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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4

4. TW10.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 16.19, which indicates a correct valuation of TW10.
  • 67.57% of the companies in the same industry are more expensive than TW10, based on the Price/Earnings ratio.
  • TW10's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.86.
  • TW10 is valuated correctly with a Price/Forward Earnings ratio of 15.89.
  • TW10's Price/Forward Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 37.39. TW10 is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 16.19
Fwd PE 15.89
TW10.DE Price Earnings VS Forward Price EarningsTW10.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of TW10 is on the same level as its industry peers.
  • TW10's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 16.1
EV/EBITDA 9.33
TW10.DE Per share dataTW10.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates TW10 does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of TW10 may justify a higher PE ratio.
PEG (NY)8.94
PEG (5Y)N/A
EPS Next 2Y4.43%
EPS Next 3Y5.04%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. TW10.DE Dividend Analysis

5.1 Amount

  • TW10 has a Yearly Dividend Yield of 2.96%. Purely for dividend investing, there may be better candidates out there.
  • TW10's Dividend Yield is a higher than the industry average which is at 2.78.
  • TW10's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.96%

5.2 History

  • On average, the dividend of TW10 grows each year by 65.12%, which is quite nice.
Dividend Growth(5Y)65.12%
Div Incr Years0
Div Non Decr Years0
TW10.DE Yearly Dividends per shareTW10.DE Yearly Dividends per shareYearly Dividends per share 2026 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

  • TW10 pays out 46.58% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of TW10 is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP46.58%
EPS Next 2Y4.43%
EPS Next 3Y5.04%
TW10.DE Yearly Income VS Free CF VS DividendTW10.DE 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
TW10.DE Dividend Payout.TW10.DE Dividend Payout, showing the Payout Ratio.TW10.DE Dividend Payout.PayoutRetained Earnings

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TW10.DE Fundamentals: All Metrics, Ratios and Statistics

TENARIS SA

FRA:TW10 (4/10/2026, 7:00:00 PM)

25.42

-0.23 (-0.9%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-18
Earnings (Next)05-06
Inst Owners13.04%
Inst Owner ChangeN/A
Ins Owners0.08%
Ins Owner ChangeN/A
Market Cap27.25B
Revenue(TTM)11.98B
Net Income(TTM)1.93B
Analysts72
Price Target23.65 (-6.96%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.96%
Yearly Dividend0.73
Dividend Growth(5Y)65.12%
DP46.58%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.08%
Min EPS beat(2)-3.68%
Max EPS beat(2)7.83%
EPS beat(4)1
Avg EPS beat(4)-6.67%
Min EPS beat(4)-19.77%
Max EPS beat(4)7.83%
EPS beat(8)4
Avg EPS beat(8)2.34%
EPS beat(12)7
Avg EPS beat(12)8.5%
EPS beat(16)9
Avg EPS beat(16)8.91%
Revenue beat(2)2
Avg Revenue beat(2)1.81%
Min Revenue beat(2)0.24%
Max Revenue beat(2)3.37%
Revenue beat(4)3
Avg Revenue beat(4)1.15%
Min Revenue beat(4)-1.14%
Max Revenue beat(4)3.37%
Revenue beat(8)6
Avg Revenue beat(8)1.82%
Revenue beat(12)10
Avg Revenue beat(12)2.81%
Revenue beat(16)14
Avg Revenue beat(16)2.46%
PT rev (1m)8.63%
PT rev (3m)29.97%
EPS NQ rev (1m)2.02%
EPS NQ rev (3m)10.12%
EPS NY rev (1m)3.36%
EPS NY rev (3m)0.2%
Revenue NQ rev (1m)0.4%
Revenue NQ rev (3m)2.38%
Revenue NY rev (1m)0.44%
Revenue NY rev (3m)0.65%
Valuation
Industry RankSector Rank
PE 16.19
Fwd PE 15.89
P/S 2.66
P/FCF 16.1
P/OCF 12.28
P/B 1.92
P/tB 2.09
EV/EBITDA 9.33
EPS(TTM)1.57
EY6.18%
EPS(NY)1.6
Fwd EY6.29%
FCF(TTM)1.58
FCFY6.21%
OCF(TTM)2.07
OCFY8.15%
SpS9.54
BVpS13.22
TBVpS12.14
PEG (NY)8.94
PEG (5Y)N/A
Graham Number21.61
Profitability
Industry RankSector Rank
ROA 9.63%
ROE 11.64%
ROCE 12.96%
ROIC 10.43%
ROICexc 12.46%
ROICexgc 13.71%
OM 19.18%
PM (TTM) 16.13%
GM 34.39%
FCFM 16.55%
ROA(3y)12.72%
ROA(5y)12.07%
ROE(3y)15.73%
ROE(5y)14.95%
ROIC(3y)13.59%
ROIC(5y)12.49%
ROICexc(3y)16.6%
ROICexc(5y)14.74%
ROICexgc(3y)18.3%
ROICexgc(5y)16.32%
ROCE(3y)16.89%
ROCE(5y)15.52%
ROICexgc growth 3Y-12.98%
ROICexgc growth 5YN/A
ROICexc growth 3Y-12.68%
ROICexc growth 5YN/A
OM growth 3Y-9.82%
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 Turnover0.6
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 0.23
Debt/EBITDA 0.03
Cap/Depr 100.16%
Cap/Sales 5.15%
Interest Coverage 92.8
Cash Conversion 89.22%
Profit Quality 102.57%
Current Ratio 3.87
Quick Ratio 2.33
Altman-Z 8.12
F-Score6
WACC7.5%
ROIC/WACC1.39
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 Y1.81%
EPS Next 2Y4.43%
EPS Next 3Y5.04%
EPS Next 5Y2.29%
Revenue 1Y (TTM)-4.33%
Revenue growth 3Y0.62%
Revenue growth 5Y18.41%
Sales Q2Q%5.27%
Revenue Next Year0.94%
Revenue Next 2Y2.3%
Revenue Next 3Y2.26%
Revenue Next 5Y1.81%
EBIT growth 1Y-2.95%
EBIT growth 3Y-9.27%
EBIT growth 5YN/A
EBIT Next Year27.78%
EBIT Next 3Y11.15%
EBIT Next 5Y6.63%
FCF growth 1Y-8.3%
FCF growth 3Y37.06%
FCF growth 5Y8.37%
OCF growth 1Y-9.3%
OCF growth 3Y30.59%
OCF growth 5Y11.32%

TENARIS SA / TW10.DE Fundamental Analysis FAQ

What is the fundamental rating for TW10 stock?

ChartMill assigns a fundamental rating of 6 / 10 to TW10.DE.


Can you provide the valuation status for TENARIS SA?

ChartMill assigns a valuation rating of 4 / 10 to TENARIS SA (TW10.DE). This can be considered as Fairly Valued.


How profitable is TENARIS SA (TW10.DE) stock?

TENARIS SA (TW10.DE) has a profitability rating of 6 / 10.


What is the valuation of TENARIS SA based on its PE and PB ratios?

The Price/Earnings (PE) ratio for TENARIS SA (TW10.DE) is 16.19 and the Price/Book (PB) ratio is 1.92.


What is the expected EPS growth for TENARIS SA (TW10.DE) stock?

The Earnings per Share (EPS) of TENARIS SA (TW10.DE) is expected to grow by 1.81% in the next year.