Financials Tenaris S.A.

Equities

TEN

LU2598331598

Oil Related Services and Equipment

Market Closed - Borsa Italiana 16:44:59 17/07/2024 BST Pre-market 06:51:13
14.48 EUR 0.00% Intraday chart for Tenaris S.A. 14.52 +0.30%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,290 9,617 12,310 20,575 20,296 17,613 - -
Enterprise Value (EV) 1 12,578 9,036 12,042 19,886 17,406 13,597 12,878 11,901
P/E ratio 17.9 x -15.1 x 11.2 x 8.07 x 5.23 x 8.15 x 8.26 x 8.31 x
Yield 3.64% 1.72% 3.93% - - 3.91% 4.09% 6.26%
Capitalization / Revenue 1.82 x 1.87 x 1.89 x 1.75 x 1.37 x 1.41 x 1.39 x 1.42 x
EV / Revenue 1.72 x 1.76 x 1.85 x 1.69 x 1.17 x 1.09 x 1.01 x 0.96 x
EV / EBITDA 9.17 x 14.2 x 8.86 x 5.45 x 3.58 x 4.35 x 4.17 x 3.87 x
EV / FCF 10.7 x 6.81 x -100 x 25.2 x 4.61 x 6.08 x 6.89 x 6.02 x
FCF Yield 9.36% 14.7% -1% 3.97% 21.7% 16.5% 14.5% 16.6%
Price to Book 1.11 x 0.85 x 1.03 x - 1.22 x 1.01 x 0.97 x 0.92 x
Nbr of stocks (in thousands) 1,180,537 1,180,537 1,180,537 1,180,537 1,167,889 1,112,364 - -
Reference price 2 11.26 8.146 10.43 17.43 17.38 15.83 15.83 15.83
Announcement Date 19/02/20 24/02/21 16/02/22 15/02/23 21/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,294 5,147 6,521 11,763 14,869 12,523 12,693 12,365
EBITDA 1 1,372 638.1 1,359 3,648 4,865 3,127 3,085 3,077
EBIT 1 832.4 -663.1 707.5 2,963 4,316 2,491 2,444 2,440
Operating Margin 11.41% -12.88% 10.85% 25.19% 29.03% 19.89% 19.25% 19.73%
Earnings before Tax (EBT) 1 933.7 -619.3 1,243 3,166 4,633 2,684 2,693 2,712
Net income 1 742.7 -634.4 1,100 2,553 3,918 2,213 2,127 2,163
Net margin 10.18% -12.33% 16.87% 21.71% 26.35% 17.67% 16.76% 17.49%
EPS 2 0.6300 -0.5400 0.9300 2.160 3.320 1.942 1.916 1.905
Free Cash Flow 1 1,178 1,327 -120.4 788.8 3,776 2,238 1,870 1,977
FCF margin 16.15% 25.78% -1.85% 6.71% 25.39% 17.87% 14.73% 15.99%
FCF Conversion (EBITDA) 85.85% 207.96% - 21.62% 77.61% 71.56% 60.6% 64.24%
FCF Conversion (Net income) 158.58% - - 30.89% 96.36% 101.11% 87.9% 91.4%
Dividend per Share 2 0.4100 0.1400 0.4100 - - 0.6188 0.6483 0.9917
Announcement Date 19/02/20 24/02/21 16/02/22 15/02/23 21/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 3,003 2,710 2,057 2,367 2,800 5,168 2,975 3,620 4,141 4,075 8,216 3,238 3,415 3,442 3,302 2,886 3,160 3,130 3,154
EBITDA 1 338.4 497.4 482.6 639 806 1,433 945.6 1,269 1,477 1,409 2,886 972 975.3 987.1 791.3 579.8 708.8 741.5 777.5
EBIT 1 - 183.3 273.3 495.9 660 1,147 803.1 1,013 1,351 1,278 2,630 867.9 819 811.7 628.7 423.9 548 586 632
Operating Margin - 6.76% 13.29% 20.95% 23.57% 22.2% 27% 27.98% 32.63% 31.37% 32% 26.8% 23.98% 23.58% 19.04% 14.69% 17.34% 18.72% 20.04%
Earnings before Tax (EBT) 1 - - 408.4 570.7 754.5 - 779.3 1,061 1,425 1,414 2,839 825 968.9 835.1 677.5 451.2 601.3 607.5 644.5
Net income 1 -708 400.3 370 502.8 636.7 1,139 606.5 807.3 1,129 1,123 2,252 537.3 1,129 737 607.2 414 370 475.5 504.5
Net margin -23.57% 14.77% 17.99% 21.24% 22.74% 22.05% 20.39% 22.3% 27.25% 27.56% 27.41% 16.59% 33.06% 21.41% 18.39% 14.35% 11.71% 15.19% 16%
EPS - - 0.3100 0.4300 0.5400 - - 0.6800 - 0.9500 - 0.4600 0.9600 0.6400 - - - 0.5800 0.5400
Dividend per Share - - 0.2800 - 0.1700 - - - - - - - - - - - - - -
Announcement Date 05/08/20 04/08/21 16/02/22 27/04/22 03/08/22 03/08/22 03/11/22 15/02/23 26/04/23 02/08/23 02/08/23 01/11/23 21/02/24 25/04/24 - - - - -
1USD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 712 581 268 689 2,890 4,016 4,735 5,712
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,178 1,327 -120 789 3,776 2,238 1,870 1,977
ROE (net income / shareholders' equity) 6.25% -5.45% 9.47% 19.7% 25.5% 12.8% 12.4% 12.1%
ROA (Net income/ Total Assets) 5.11% -4.44% 7.81% 16% 20.3% 11% 9.65% 8.6%
Assets 1 14,547 14,279 14,083 16,000 19,316 20,121 22,040 25,146
Book Value Per Share 2 10.20 9.540 10.10 - 14.30 15.60 16.30 17.20
Cash Flow per Share 2 1.300 1.290 0.1000 0.9900 3.720 2.110 2.750 2.340
Capex 1 350 193 240 378 619 711 677 626
Capex / Sales 4.8% 3.76% 3.67% 3.22% 4.17% 5.68% 5.34% 5.06%
Announcement Date 19/02/20 24/02/21 16/02/22 15/02/23 21/02/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
11
Last Close Price
15.83 USD
Average target price
20.47 USD
Spread / Average Target
+29.25%
Consensus
  1. Stock Market
  2. Equities
  3. TEN Stock
  4. Financials Tenaris S.A.