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TEN: Buyback Completion And Interim Dividend Will Support Steady Outlook

Share Repurchases and Infrastructure Expansion Will Shape Future Opportunities and Risks

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TEN
AnalystConsensusTarget
Not Invested
Published 23 Jan 2025

Update shared on 09 Dec 2025

Fair value Increased 0.75%
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Narrative Update on Tenaris

Analysts have raised their fair value estimate for Tenaris modestly to approximately $18.67 from about $18.54, citing slightly higher long term revenue growth expectations, a small uplift in projected profit margins, and a marginally richer future price to earnings multiple.

What's in the News

  • Tenaris reported completing a major share repurchase program, buying back 33,059,955 shares since June 14, 2025, equivalent to 3.11% of shares outstanding, for a total of $588 million (company filing).
  • In the most recent tranche of the buyback, from July 1, 2025 to September 30, 2025, the company repurchased 19,965,687 shares, or 1.89% of shares, for $351 million (company filing).
  • The board approved an interim cash dividend of $0.29 per share, or $0.58 per ADS, totaling roughly $300 million, which the company characterized as continued capital returns to shareholders (company announcement).
  • The interim dividend will be paid on November 26, 2025, with a record date of November 25, 2025, and ex dividend dates of November 25, 2025 in the United States and November 24, 2025 in Europe and Mexico (company announcement).

Valuation Changes

  • Fair Value Estimate has risen slightly to approximately $18.67 per share from about $18.54 per share.
  • Discount Rate has increased marginally to around 6.46 percent from roughly 6.44 percent, indicating a slightly higher required return.
  • Revenue Growth assumption has moved up modestly to about 1.35 percent annually from roughly 1.31 percent.
  • Net Profit Margin expectation has edged higher to approximately 14.65 percent from about 14.62 percent.
  • Future P/E multiple has risen slightly to roughly 13.79x from about 13.57x, implying a small uplift in the valuation multiple applied to earnings.

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Disclaimer

AnalystConsensusTarget is a tool utilizing a Large Language Model (LLM) that ingests data on consensus price targets, forecasted revenue and earnings figures, as well as the transcripts of earnings calls to produce qualitative analysis. The narratives produced by AnalystConsensusTarget are general in nature and are based solely on analyst data and publicly-available material published by the respective companies. These scenarios are not indicative of the company's future performance and are exploratory in nature. Simply Wall St has no position in the company(s) mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. The price targets and estimates used are consensus data, and do not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that AnalystConsensusTarget's analysis may not factor in the latest price-sensitive company announcements or qualitative material.