What is Tenaris's earnings per share (EPS)?

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.

Tenaris (TS) Financials

FY2025 annual

Revenue $12.0B -4.3% YoY

Net Income $2.0B -5.0% YoY

EPS (Diluted) $1.83 +1.1% YoY

Operating Cash Flow $2.6B -9.3% YoY

Market Cap $29.1B as of Sep 10, 2026

Price / Sales 2.4x on $12.0B revenue, FY2025

Price / Earnings 14.7x on $2.0B net income, FY2025

Price / Book 1.7x on $16.8B equity, Q4 FY2025

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 31, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Mar 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TS SEC filings page.

Tenaris (TS) reported $12.0B in revenue for fiscal year 2025, down 4.3% from the prior fiscal year. This page shows its 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).

Rhea AI TS FY2025 2026-09-05

Tenaris’s cash-generative, low-debt operations convert earnings into distributions despite weaker recent revenue.

In FY2025, operating cash flow was $2.60B against net income of $1.97B, so cash conversion exceeded accounting profit rather than merely tracking it. The same relationship held in FY2024, when operating cash flow was 1.4x net income, indicating the cash result was not confined to one unusually profitable year.

The FY2025 balance sheet combines minimal debt dependence with ample short-term coverage: debt-to-equity was 0.006x and current ratio was 3.9x. That pairing implies operations are financed primarily through equity and working assets rather than a heavily borrowed structure; liabilities of $3.24B were small beside equity of $16.83B.

The post-FY2023 earnings reset is visible in net margin, which moved from 26.6% to 16.5% by FY2025, while operating cash flow still exceeded net income; this separates lower profitability from impaired cash generation. Capital returns stayed substantial: FY2025 buybacks were $1.36B and dividends were $900M, showing that cash generation supported distributions even after reported earnings fell.

Financial Health Signals

Financial health score not available

Tenaris does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

6/8

Tenaris passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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

Export CSV

Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$572.6M

YoY-15.2%

QoQ-15.2%

Tenaris held $572.6M in cash against $94.9M in long-term debt as of Q4 2025, with $2.3B of liabilities due within a year.

Shares Outstanding

1.07B

YoY-7.8%

QoQ-7.8%

Tenaris had 1.07B shares outstanding in Q4 2025. This represents a decrease of 7.8% from the same quarter a year earlier. Against the prior quarter it is down 7.8%.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

TS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TS quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$12.0B-4.3%	$12.5B-15.8%	$14.9B+26.4%	$11.8B+80.4%	$6.5B+26.7%	$5.1B-29.4%	$7.3B-4.8%	$7.7B+44.8%	$5.3B+23.2%	$4.3B-37.8%	$6.9B
Interest Expense	$46.9M-23.3%	$61.2M-42.7%	$106.9M+132.6%	$45.9M+94.0%	$23.7M-12.4%	$27.0M-37.7%	$43.4M+17.4%	$36.9M+36.5%	$27.1M+21.2%	$22.3M-3.2%	$23.1M
Income Tax	$500.6M+4.4%	$479.7M-28.9%	$675.0M+9.4%	$617.2M+225.8%	$189.4M+718.3%	$23.1M-88.6%	$202.5M-11.7%	$229.2M+1437.6%	-$17.1M-200.2%	$17.1M-92.7%	$234.4M
Net Income	$2.0B-5.0%	$2.1B-47.5%	$4.0B+55.3%	$2.5B+142.0%	$1.1B+264.0%	-$642.4M-187.9%	$731.3M-16.3%	$873.9M+62.9%	$536.4M+813.2%	$58.7M+178.9%	-$74.4M
EPS (Basic)	$1.83+1.1%	$1.81-45.5%	$3.32+53.7%	$2.16+132.3%	$0.93	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$1.83+1.1%	$1.81-45.5%	$3.32+53.7%	$2.16+132.3%	$0.93	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

TS Balance Sheet

TS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$20.1B-1.8%	$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+2.8%	$14.0B	N/A
Current Assets	$9.1B-1.8%	$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+11.7%	$4.8B	N/A
Cash & Equivalents	$572.6M-15.2%	$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-17.4%	$399.7M	N/A
Inventory	$3.6B-2.9%	$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+51.4%	$1.6B-15.2%	$1.8B
Goodwill	$1.4B0.0%	$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-30.6%	$1.9B	N/A
Total Liabilities	$3.2B-10.8%	$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+8.8%	$2.6B	N/A
Current Liabilities	$2.3B-11.0%	$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+20.9%	$1.7B	N/A
Non-Current Liabilities	$896.9M-10.3%	$999.6M-13.0%	$1.1B+58.0%	$727.4M-7.2%	$784.1M-28.9%	$1.1B+25.9%	$876.2M+33.3%	$657.4M-11.9%	$746.3M-13.1%	$859.1M	N/A
Long-Term Debt	$94.9M-5.5%	$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+15.0%	$840.2M	N/A
Total Equity	$16.8B+0.1%	$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+1.5%	$11.4B-3.8%	$11.9B

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K
Total Assets	$20.1B-1.8%	$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%
Current Assets	$9.1B-1.8%	$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%
Cash & Equivalents	$572.6M-15.2%	$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%
Inventory	$3.6B-2.9%	$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%
Goodwill	$1.4B0.0%	$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%
Total Liabilities	$3.2B-10.8%	$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%
Current Liabilities	$2.3B-11.0%	$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%
Non-Current Liabilities	$896.9M-10.3%	$999.6M-13.0%	$1.1B+58.0%	$727.4M-7.2%	$784.1M-28.9%	$1.1B+25.9%	$876.2M+33.3%	$657.4M-11.9%
Long-Term Debt	$94.9M-5.5%	$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%
Total Equity	$16.8B+0.1%	$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%

Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments, Retained Earnings.

TS Cash Flow Statement

TS quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$2.6B-9.3%	$2.9B-34.8%	$4.4B+276.5%	$1.2B+880.2%	$119.1M-92.2%	$1.5B-0.5%	$1.5B+150.2%	$610.8M+2873.2%	-$22.0M-102.6%	$863.6M-61.0%	$2.2B
Depreciation & Amortization	$616.2M-2.6%	$632.9M+15.4%	$548.5M-9.7%	$607.7M+2.2%	$594.7M-12.4%	$678.8M+25.8%	$539.5M-18.8%	$664.4M+9.2%	$608.6M-8.1%	$662.4M+0.6%	$658.8M
Investing Cash Flow	-$192.6M+86.2%	-$1.4B+48.0%	-$2.7B-1542.6%	-$163.6M-161.1%	$267.9M+112.8%	-$2.1B-5079.9%	-$40.4M-110.1%	$399.1M+14.3%	$349.1M+455.0%	-$98.3M+94.5%	-$1.8B
Financing Cash Flow	-$2.5B-3.3%	-$2.4B-113.3%	-$1.1B-530.8%	-$178.3M+72.5%	-$648.0M-72.6%	-$375.3M-6.1%	-$353.8M+60.7%	-$900.4M-124.3%	-$401.4M+38.5%	-$652.6M-22.0%	-$535.0M
Dividends Paid	$900.4M+18.8%	$757.8M+19.1%	$636.5M+19.8%	$531.2M+66.7%	$318.7M+285.7%	$82.6M-82.9%	$484.0M0.0%	$484.0M0.0%	$484.0M-4.7%	$507.6M-4.4%	$531.2M
Share Buybacks	$1.4B-5.7%	$1.4B+574.6%	$213.7M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

TS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Net Margin	16.5%-0.1pp	16.6%-10.0pp	26.6%+4.9pp	21.7%+5.5pp	16.2%+28.6pp	-12.5%-22.5pp	10.0%-1.4pp	11.4%+1.3pp	10.1%+8.8pp	1.4%+2.5pp	-1.1%
Return on Equity	11.7%-0.6pp	12.3%-10.9pp	23.2%+5.1pp	18.2%+9.5pp	8.7%+14.3pp	-5.6%-11.6pp	6.0%-1.4pp	7.4%+2.7pp	4.6%+4.1pp	0.5%+1.1pp	-0.6%
Return on Assets	9.8%-0.3pp	10.2%-8.6pp	18.8%+4.3pp	14.5%+7.2pp	7.3%+12.0pp	-4.7%-9.6pp	4.9%-1.2pp	6.1%+2.4pp	3.7%+3.3pp	0.4%	N/A
Current Ratio	3.87+0.4x	3.50-0.1x	3.62+0.6x	3.04-0.2x	3.19-0.5x	3.68+0.5x	3.180.0x	3.18+0.6x	2.60-0.2x	2.81	N/A
Debt-to-Equity	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.020.0x	0.020.0x	0.050.0x	0.080.0x	0.07	N/A
Asset Turnover	0.600.0x	0.61-0.1x	0.710.0x	0.67+0.2x	0.45+0.1x	0.38-0.1x	0.490.0x	0.54+0.2x	0.37+0.1x	0.31	N/A

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K
Current Ratio	3.87+0.4x	3.50-0.1x	3.62+0.6x	3.04-0.2x	3.19-0.5x	3.68+0.5x	3.180.0x	3.18+0.6x
Debt-to-Equity	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.020.0x	0.020.0x	0.050.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Tenaris TS	FY2025	$12.0B	$2.0B	16.5%	$29.1B	—
Halliburton HAL	FY2025	$22.2B	$1.3B	5.8%	$30.7B	62/100
Technipfmc Plc FTI	FY2025	$9.9B	$963.9M	9.7%	$30.7B	70/100
Baker Hughes Co BKR	FY2025	$27.7B	$2.6B	9.3%	$63.5B	63/100
SLB Limited SLB	FY2025	$35.7B	$3.4B	9.4%	$84.7B	70/100
Nov Inc NOV	FY2025	$8.7B	$145.0M	1.7%	$7.6B	59/100

Where Tenaris Ranks

Frequently Asked Questions

What is Tenaris's annual revenue?

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.

How fast is Tenaris's revenue growing?

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

Is Tenaris profitable?

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

How much debt does Tenaris have?

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

What is Tenaris's net profit margin?

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.

What is Tenaris's return on equity (ROE)?

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

What is Tenaris's operating cash flow?

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

What are Tenaris's total assets?

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

Does Tenaris buy back shares?

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

How many shares does Tenaris have outstanding?

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

What is Tenaris's current ratio?

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

What is Tenaris's debt-to-equity ratio?

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.

What is Tenaris's return on assets (ROA)?

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.

What is Tenaris's P/E ratio?

Tenaris (TS) trades at 14.7x earnings, its market capitalization divided by net income of $2.0B net income, FY2025. The market capitalization is $29.1B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Tenaris's price-to-sales ratio?

Tenaris (TS) trades at 2.4x sales, its market capitalization divided by revenue of $12.0B revenue, FY2025. The market capitalization is $29.1B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Tenaris's Piotroski F-Score?

Tenaris (TS) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Tenaris's earnings high quality?

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.