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Tenaris Financials

TS
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows Tenaris (TS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 60 / 100
Financial Profile 60/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth
26

Tenaris's revenue declined 4.3% year-over-year, from $12.5B to $12.0B. This contraction results in a growth score of 26/100.

Leverage
100

Tenaris carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
76

With a current ratio of 3.87, Tenaris holds $3.87 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.

Returns
37

Tenaris's ROE of 11.7% shows moderate profitability relative to equity, earning a score of 37/100. This is down from 12.3% the prior year.

Piotroski F-Score Neutral
6/9

Tenaris passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.32x

For every $1 of reported earnings, Tenaris generates $1.32 in operating cash flow ($2.6B OCF vs $2.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$12.0B
YoY-4.3%
5Y CAGR+18.4%
10Y CAGR+5.7%

Tenaris generated $12.0B in revenue in fiscal year 2025. This represents a decrease of 4.3% from the prior year.

EBITDA
N/A
Net Income
$2.0B
YoY-5.0%

Tenaris reported $2.0B in net income in fiscal year 2025. This represents a decrease of 5.0% from the prior year.

EPS (Diluted)
$1.83
YoY+1.1%

Tenaris earned $1.83 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$572.6M
YoY-15.2%
5Y CAGR-0.4%

Tenaris held $572.6M in cash against $94.9M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
1.07B
YoY-7.8%
5Y CAGR-1.9%

Tenaris had 1.07B shares outstanding in fiscal year 2025. This represents a decrease of 7.8% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
16.5%
YoY-0.1pp
5Y CAGR+28.9pp
10Y CAGR+17.6pp

Tenaris's net profit margin was 16.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.1 percentage points from the prior year.

Return on Equity
11.7%
YoY-0.6pp
5Y CAGR+17.3pp
10Y CAGR+12.4pp

Tenaris's ROE was 11.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$1.4B
YoY-5.7%

Tenaris spent $1.4B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 5.7% from the prior year.

Capital Expenditures
N/A

TS Income Statement

Metric Q3'25 Q3'24 Q3'23 Q3'22 Q3'21 Q3'20 Q3'19 Q3'18
Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A N/A
Operating Income N/A N/A N/A N/A N/A N/A N/A N/A
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income N/A N/A N/A N/A N/A N/A N/A N/A
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

TS Balance Sheet

Metric Q3'25 Q3'24 Q3'23 Q3'22 Q3'21 Q3'20 Q3'19 Q3'18
Total Assets $20.5B-3.0% $21.1B+20.1% $17.6B+21.5% $14.4B+5.3% $13.7B-7.6% $14.8B+4.2% $14.3B-1.0% $14.4B
Current Assets $9.2B-12.1% $10.5B+24.0% $8.5B+70.0% $5.0B+16.2% $4.3B-24.4% $5.7B+3.8% $5.5B+1.5% $5.4B
Cash & Equivalents $675.3M-58.8% $1.6B+50.0% $1.1B+243.1% $318.1M-45.6% $584.7M-62.4% $1.6B+262.8% $428.4M+29.7% $330.2M
Inventory $3.7B-5.4% $3.9B-1.7% $4.0B+49.2% $2.7B+63.3% $1.6B-27.8% $2.3B-10.2% $2.5B+6.6% $2.4B
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill $1.4B+23.0% $1.1B+1.8% $1.1B0.0% $1.1B-0.1% $1.1B-17.7% $1.3B+2.5% $1.3B-0.3% $1.3B
Total Liabilities $3.6B-10.2% $4.1B+15.2% $3.5B+50.0% $2.3B+3.3% $2.3B-14.6% $2.7B+11.8% $2.4B-15.7% $2.8B
Current Liabilities $2.6B-9.1% $2.9B+4.1% $2.8B+78.8% $1.6B+33.7% $1.2B-34.5% $1.8B+3.6% $1.7B-17.0% $2.1B
Long-Term Debt $100.4M+4.0% $96.6M+15.5% $83.6M+1.1% $82.7M-61.3% $213.8M+11.2% $192.3M-64.3% $539.0M-44.2% $965.9M
Total Equity $16.8B-1.3% $17.0B+21.3% $14.0B+15.9% $12.1B+5.8% $11.4B-6.1% $12.2B+2.6% $11.9B+2.5% $11.6B
Retained Earnings N/A N/A N/A N/A N/A N/A N/A N/A

TS Cash Flow Statement

Metric Q3'25 Q3'24 Q3'23 Q3'22 Q3'21 Q3'20 Q3'19 Q3'18
Operating Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

TS Financial Ratios

Metric Q3'25 Q3'24 Q3'23 Q3'22 Q3'21 Q3'20 Q3'19 Q3'18
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity N/A N/A N/A N/A N/A N/A N/A N/A
Return on Assets N/A N/A N/A N/A N/A N/A N/A N/A
Current Ratio 3.50-0.1 3.62+0.6 3.04-0.2 3.19-0.5 3.68+0.5 3.180.0 3.18+0.6 2.60
Debt-to-Equity 0.010.0 0.010.0 0.010.0 0.01-0.0 0.020.0 0.02-0.0 0.05-0.0 0.08
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

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Frequently Asked Questions

Tenaris (TS) reported $12.0B in total revenue for fiscal year 2025. This represents a -4.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Tenaris (TS) revenue declined by 4.3% year-over-year, from $12.5B to $12.0B in fiscal year 2025.

Yes, Tenaris (TS) reported a net income of $2.0B in fiscal year 2025, with a net profit margin of 16.5%.

Tenaris (TS) reported diluted earnings per share of $1.83 for fiscal year 2025. This represents a 1.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, Tenaris (TS) had $572.6M in cash and equivalents against $94.9M in long-term debt.

Tenaris (TS) had a net profit margin of 16.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Tenaris (TS) has a return on equity of 11.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Tenaris (TS) generated $2.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Tenaris (TS) had $20.1B in total assets as of fiscal year 2025, including both current and long-term assets.

Yes, Tenaris (TS) spent $1.4B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Tenaris (TS) had 1.07B shares outstanding as of fiscal year 2025.

Tenaris (TS) had a current ratio of 3.87 as of fiscal year 2025, which is generally considered healthy.

Tenaris (TS) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Tenaris (TS) had a return on assets of 9.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Tenaris (TS) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Tenaris (TS) has an earnings quality ratio of 1.32x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Tenaris (TS) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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