Want to see IT:TEN full AI Analyst Report?
Top Page
Tenaris
(TEN)
Select Model
Select Model
Rating:67Neutral
Price Target:
€28.00
▲(20.48% Upside)
Action:Downgraded
Date:08/10/26
The score is anchored by strong financial resilience (especially a standout low-leverage balance sheet) and still solid profitability, supported by reasonable valuation and a ~3.34% dividend yield. These positives are meaningfully offset by weak technicals—price below key moving averages with negative MACD and oversold momentum—suggesting near-term trend risk.
Positive Factors
Balance Sheet Strength
Tenaris’s exceptionally low leverage reduces balance-sheet risk and preserves flexibility through changing energy cycles. A strong equity base can support investment, customer programs, and shareholder returns without relying heavily on new borrowing or refinancing.
Negative Factors
Cooling Revenue Growth
The decline in revenue indicates that Tenaris is operating below the elevated activity levels reached in 2023. Prolonged weakness in customer drilling and infrastructure spending could limit utilization, reduce operating leverage, and slow earnings recovery over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Tenaris’s exceptionally low leverage reduces balance-sheet risk and preserves flexibility through changing energy cycles. A strong equity base can support investment, customer programs, and shareholder returns without relying heavily on new borrowing or refinancing.
Read all positive factors
Tenaris (TEN) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€27.56B
Dividend Yield3%
Average Volume (3M)1.18M
Price to Earnings (P/E)15.4
Beta (1Y)0.34
Revenue Growth-4.59%
EPS Growth-5.17%
CountryIT
Employees24,875
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)1.87
Shares Outstanding1,071,994,900
10 Day Avg. Volume1,257,449
30 Day Avg. Volume1,183,879
Financial Highlights & Ratios
PEG Ratio2.05
Price to Book (P/B)1.23
Price to Sales (P/S)1.64
P/FCF Ratio9.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€31.00Price Target Upside33.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.65
Revenue Forecast (FY)€10.63B
Tenaris Business Overview & Revenue Model
Company Description
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...
How the Company Makes Money
Tenaris makes money primarily by selling steel tubular products and associated services used in upstream oil and gas operations. Its key revenue streams generally include: (1) OCTG product sales: The largest driver is typically the sale of casing ...
Tenaris Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.95B | 12.47B | 12.52B | 14.87B | 11.76B | 6.52B |
| Gross Profit | 4.03B | 4.12B | 4.39B | 6.47B | 4.67B | 1.91B |
| EBITDA | 2.90B | 3.03B | 3.16B | 5.29B | 3.82B | 1.86B |
| Net Income | 1.90B | 2.01B | 2.04B | 3.92B | 2.55B | 1.10B |
Balance Sheet | ||||||
| Total Assets | 20.31B | 20.07B | 20.45B | 21.08B | 17.55B | 14.45B |
| Cash, Cash Equivalents and Short-Term Investments | 2.78B | 2.88B | 3.05B | 3.61B | 1.53B | 715.98M |
| Total Debt | 446.86M | 448.97M | 582.32M | 203.96M | 840.94M | 448.22M |
| Total Liabilities | 3.09B | 3.24B | 3.64B | 4.05B | 3.52B | 2.34B |
| Stockholders Equity | 16.96B | 16.60B | 16.59B | 16.84B | 13.91B | 11.96B |
Cash Flow | ||||||
| Free Cash Flow | 1.75B | 2.13B | 2.16B | 3.78B | 769.87M | -125.52M |
| Operating Cash Flow | 2.28B | 2.77B | 2.87B | 4.40B | 1.17B | 119.08M |
| Investing Cash Flow | -290.84M | -265.01M | -1.40B | -2.69B | -163.56M | 267.90M |
| Financing Cash Flow | -1.98B | -2.58B | -2.40B | -1.13B | -178.34M | -647.96M |
Tenaris Technical Analysis
Positive
23.24
Price Trends
24.08
Positive
24.71
Positive
23.49
Positive
Market Momentum
0.33
Negative
60.18
Neutral
60.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:TEN, the sentiment is Positive. The current price of 23.24 is below the 20-day moving average (MA) of 24.73, below the 50-day MA of 24.08, and below the 200-day MA of 23.49, indicating a bullish trend. The MACD of 0.33 indicates Negative momentum. The RSI at 60.18 is Neutral, neither overbought nor oversold. The STOCH value of 60.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:TEN.
Tenaris Risk Analysis
Tenaris disclosed 26 risk factors in its most recent earnings report. Tenaris reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tenaris Peers Comparison
UnderperformOutperform
Sector (55)
IT:TEN
Tenaris
25.71
11.45
80.33%
IT:SPM
Saipem SpA
4.57
2.21
93.48%
IT:GSP
Gas Plus S.p.A.
6.70
0.45
7.22%
IT:NXT
Next Geosolutions Europe SpA
15.90
2.62
19.76%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.