View ValuationTenaris 将来の成長Future 基準チェック /06Tenarisの収益は年間0.8%で減少すると予測されていますが、年間収益は年間2.1%で増加すると予測されています。EPS は年間 増加すると予測されています。自己資本利益率は 3 年後に12.4% 3.7%なると予測されています。主要情報-0.8%収益成長率3.72%EPS成長率Energy Services 収益成長7.9%収益成長率2.1%将来の株主資本利益率12.36%アナリストカバレッジGood最終更新日22 May 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesBoard Change • May 20Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. Independent Director Molly Montgomery was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.お知らせ • May 14Tenaris S.A. Approves Annual Dividend, Payable on May 20, 2026Tenaris S.A. announced that at the annual general shareholders' meeting held on May 12, 2026, the shareholders approved an annual dividend of USD 0.89 which represents an aggregate sum of approximately USD 0.9 billion, and which includes the interim dividend of USD 0.29 per share or approximately USD 0.3 billion, paid in November 2025. Tenaris will pay the balance of the annual dividend in the amount of USD 0.60 per share which represents approximately USD 0.6 billion, on May 20th, 2026; with a record date of May 19th, 2026, and an ex-dividend date of May 18th, 2026 for securities listed in Europe and Mexico and an ex-dividend of May 19th, 2026 for securities listed in the United States.お知らせ • May 09Tenaris S.A. Announces CEO ChangesTenaris S.A. announced that its Board of Directors appointed Gabriel Podskubka as Chief Executive Officer. Paolo Rocca will continue to serve as Chairman of the Board. The members of the Board would like to express their profound gratitude to Paolo Rocca for his outstanding leadership in building Tenaris into the clear global leader that it is today, and is pleased that Paolo will continue to serve as Chairman. Since even before Tenaris became a public company in 2002, Paolo has shown a remarkable vision in creating a unified company providing critical and uniquely differentiated products and services to customers in the energy industry. He has been the architect of the continuous growth of the company over the past 25 years, during which he has reinforced the solid industrial values which are the foundation of its success. Mr. Podskubka has served as Tenaris’s Chief Operating Officer since 2023, coordinating sales and marketing, supply chain and production operations, and product and service development. He joined Tenaris in Argentina in 1995 and has held leadership positions across marketing, commercial and industrial functions, including heading Tenaris’s Eastern European operations in 2009 and serving as president of its Eastern Hemisphere operations from 2013 to 2023.お知らせ • Mar 27Tenaris S.A. (BIT:TEN) acquired Oilfield Division of AllTorque Control Systems Inc.Tenaris S.A. (BIT:TEN) acquired Oilfield Division of AllTorque Control Systems Inc. on March 26, 2026. Tenaris S.A. (BIT:TEN) completed the acquisition of Oilfield Division of AllTorque Control Systems Inc. on March 26, 2026.お知らせ • Feb 20+ 2 more updatesTenaris S.A., Annual General Meeting, May 12, 2026Tenaris S.A., Annual General Meeting, May 12, 2026.お知らせ • Jan 29+ 2 more updatesTenaris S.A. to Report Q1, 2026 Results on May 06, 2026Tenaris S.A. announced that they will report Q1, 2026 results on May 06, 2026お知らせ • Jan 14Tenaris S.A. to Report Q4, 2025 Results on Feb 18, 2026Tenaris S.A. announced that they will report Q4, 2025 results on Feb 18, 2026お知らせ • Oct 30Tenaris S.A. Approves Interim Dividend, Payable on November 26, 2025board of directors of Tenaris S.A. approved the payment of an interim dividend of $0.29 per share ($0.58 per ADS), or approximately $300 million, according to the following timetable: Payment date: November 26, 2025. Record date: November 25, 2025. Ex-dividend for securities listed in the United States: November 25, 2025. Ex-dividend for securities listed in Europe and Mexico: November 24, 2025.お知らせ • May 07Tenaris S.A. Approves Final Dividend of Fiscal Year 2024, Payable on May 21, 2025Tenaris S.A. at its annual general meeting of shareholders and extraordinary general meeting of shareholders, both held on May 6, 2025 approved an annual dividend of USD 0.83 per share (or USD 1.66 per ADR), which represents an aggregate sum of approximately USD 0.9 billion, and which includes the interim dividend of USD 0.27 per share (USD 0.54 per ADR), or approximately USD 0.3 billion, paid in November 2024. Tenaris will pay the balance of the annual dividend in the amount of USD 0.56 per share entitled to dividends (or USD 1.12 per ADR), in U.S. dollars, which represents approximately USD 0.6 billion, on May 21, 2025; with a record date of May 20, 2025, and an ex-dividend date of May 19, 2025 for securities listed in Europe and Mexico and an ex-dividend of May 20, 2025 for securities listed in the United States.お知らせ • Apr 02Tenaris S.A., Annual General Meeting, May 06, 2025Tenaris S.A., Annual General Meeting, May 06, 2025, at 10:00 W. Europe Standard Time.お知らせ • Feb 24+ 2 more updatesTenaris S.A. to Report Q1, 2025 Results on Apr 30, 2025Tenaris S.A. announced that they will report Q1, 2025 results at 9:05 AM, Central European Standard Time on Apr 30, 2025お知らせ • Feb 21Tenaris S.A. Proposes Dividend, Payable on May 21, 2025Tenaris S.A. announced that Upon approval of the Company´s annual accounts in April 2025, the board of directors intends to propose, for approval of the annual general shareholders’ meeting to be held on May 6, 2025, the payment of a dividend per share of $0.83 (in an aggregate amount of approximately $0.9 billion), which would include the interim dividend per share of $0.27 (approximately $0.3 billion) paid in November 2024. If the annual dividend is approved by the shareholders, a dividend of $0.56 per share ($1.12 per ADS), or approximately $0.6 billion. Payment date: May 21, 2025. Record date: May 20, 2025. Ex-dividend for securities listed in Europe and Mexico: May 19, 2025. Ex-dividend for securities listed in the United States: May 20, 2025.お知らせ • Dec 25Tenaris S.A. to Report Q4, 2024 Results on Feb 19, 2025Tenaris S.A. announced that they will report Q4, 2024 results on Feb 19, 2025Declared Dividend • Nov 11Dividend of US$0.27 announcedShareholders will receive a dividend of US$0.27. Ex-date: 18th November 2024 Payment date: 20th November 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 25% over the next 3 years. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range.Reported Earnings • Nov 08Third quarter 2024 earnings released: EPS: US$0.40 (vs US$0.46 in 3Q 2023)Third quarter 2024 results: EPS: US$0.40 (down from US$0.46 in 3Q 2023). Revenue: US$2.92b (down 10.0% from 3Q 2023). Net income: US$448.1m (down 17% from 3Q 2023). Profit margin: 15% (down from 17% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.Buy Or Sell Opportunity • Sep 19Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 8.6% to €13.19. The fair value is estimated to be €16.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings are also forecast to decline by 7.7% per annum over the same time period.Buy Or Sell Opportunity • Aug 29Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to €12.47. The fair value is estimated to be €15.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to decline by 3.2% per annum. Earnings are also forecast to decline by 8.0% per annum over the same time period.Buy Or Sell Opportunity • Aug 02Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 15% to €13.14. The fair value is estimated to be €16.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to decline by 3.2% per annum. Earnings are also forecast to decline by 8.7% per annum over the same time period.Reported Earnings • Aug 01Second quarter 2024 earnings released: EPS: US$0.29 (vs US$0.95 in 2Q 2023)Second quarter 2024 results: EPS: US$0.29 (down from US$0.95 in 2Q 2023). Revenue: US$3.32b (down 19% from 2Q 2023). Net income: US$335.2m (down 70% from 2Q 2023). Profit margin: 10% (down from 28% in 2Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.Upcoming Dividend • May 13Upcoming dividend of US$0.40 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (3.7%).Buy Or Sell Opportunity • Apr 30Now 20% undervaluedOver the last 90 days, the stock has risen 6.8% to €15.78. The fair value is estimated to be €19.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 61%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings are also forecast to decline by 15% per annum over the same time period.Reported Earnings • Apr 26First quarter 2024 earnings released: EPS: US$0.63 (vs US$0.96 in 1Q 2023)First quarter 2024 results: EPS: US$0.63 (down from US$0.96 in 1Q 2023). Revenue: US$3.44b (down 17% from 1Q 2023). Net income: US$737.0m (down 35% from 1Q 2023). Profit margin: 21% (down from 27% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.3%. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.Reported Earnings • Mar 26Full year 2023 earnings released: EPS: US$3.32 (vs US$2.16 in FY 2022)Full year 2023 results: EPS: US$3.32 (up from US$2.16 in FY 2022). Revenue: US$14.9b (up 26% from FY 2022). Net income: US$3.92b (up 54% from FY 2022). Profit margin: 26% (up from 22% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.Declared Dividend • Feb 26Dividend of US$0.40 announcedShareholders will receive a dividend of US$0.40. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 40% over the next 3 years. However, it would need to fall by 80% to increase the payout ratio to a potentially unsustainable range.お知らせ • Feb 22Tenaris S.A., Annual General Meeting, Apr 30, 2024Tenaris S.A., Annual General Meeting, Apr 30, 2024. Agenda: To consider approval of dividend payement.Reported Earnings • Feb 22Full year 2023 earnings released: EPS: US$3.32 (vs US$2.16 in FY 2022)Full year 2023 results: EPS: US$3.32 (up from US$2.16 in FY 2022). Revenue: US$14.9b (up 26% from FY 2022). Net income: US$3.92b (up 54% from FY 2022). Profit margin: 26% (up from 22% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 5.1% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.7%. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.お知らせ • Jan 06+ 1 more updateTenaris S.A. to Report Q1, 2024 Results on Apr 25, 2024Tenaris S.A. announced that they will report Q1, 2024 results on Apr 25, 2024Upcoming Dividend • Nov 13Upcoming dividend of US$0.20 per share at 3.0% yieldEligible shareholders must have bought the stock before 20 November 2023. Payment date: 22 November 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.0%).お知らせ • Nov 04Tenaris S.A. Approves Interim Dividend, Payable on November 22, 2023Tenaris S.A. approved the payment of an interim dividend of $0.20 per share ($0.40 per ADS), or approximately $236 million. The payment date will be November 22, 2023, with an ex-dividend date on November 20, 2023 and record date on November 21, 2023.Reported Earnings • Nov 02Third quarter 2023 earnings released: EPS: US$0.46 (vs US$0.51 in 3Q 2022)Third quarter 2023 results: EPS: US$0.46 (down from US$0.51 in 3Q 2022). Revenue: US$3.24b (up 8.8% from 3Q 2022). Net income: US$537.3m (down 11% from 3Q 2022). Profit margin: 17% (down from 20% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 6.6% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Oct 27Now 21% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be €18.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 6.0% per annum. Earnings is also forecast to decline by 21% per annum over the same time period.Buying Opportunity • Sep 19Now 20% undervaluedOver the last 90 days, the stock is up 20%. The fair value is estimated to be €19.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 5.8% per annum. Earnings is also forecast to decline by 20% per annum over the same time period.Buying Opportunity • Aug 23Now 20% undervaluedOver the last 90 days, the stock is up 24%. The fair value is estimated to be €19.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 5.4% per annum. Earnings is also forecast to decline by 20% per annum over the same time period.Reported Earnings • Aug 03Second quarter 2023 earnings released: EPS: US$0.95 (vs US$0.54 in 2Q 2022)Second quarter 2023 results: EPS: US$0.95 (up from US$0.54 in 2Q 2022). Revenue: US$4.07b (up 46% from 2Q 2022). Net income: US$1.12b (up 76% from 2Q 2022). Profit margin: 28% (up from 23% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 5.2% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.お知らせ • Jul 06Tenaris S.A. Appoints Martin Castro as President for Canadian OperationsTenaris S.A. has appointed Martin Castro as its new president in Canada where he will oversee all commercial, manufacturing and services operations, leading a team of approximately 1,000 in the country. Castro first joined Tenaris in 2007 in Argentina as a global markets senior analyst. In 2008, he moved to the United States where he worked in planning and commercial under various roles, including commercial vice-president. He managed four regional offices across the U.S. overseeing the company’s global key accounts, the implementation of Rig Direct and other business co-ordination responsibilities to strengthen customer partnerships. He also held the position of managing director for Tenaris’s operations in Southeast Asia and Oceania. Castro, born in Argentina, graduated from the Instituto Tecnológico de Buenos Aires, Argentina, with a degree in industrial engineering. He received the degree of finance specialization from the Universidad de San Andres in Argentina, and an executive MBA from Columbia Business School in New York. Castro is a U.S. citizen.Upcoming Dividend • May 15Upcoming dividend of US$0.34 per share at 3.8% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.5%).お知らせ • May 05Tenaris S.A. Approves Dividend for the Year 2022, Payable on May 24, 2023Tenaris S.A. held its AGM on May 3, 2023. The shareholders meeting also approved an annual dividend of USD 0.51 per share (or USD 1.02 per ADR), which represents an aggregate sum of approximately USD 602 million, and which includes the interim dividend of USD 0.17 per share (USD 0.34 per ADR), or approximately USD 201 million, paid in November 2022. Tenaris will pay the balance of the annual dividend in the amount of USD 0.34 per share (or USD 0.68 per ADR), in U.S. dollars, on May 24, 2023, with an ex-dividend date of May 22, 2023, and record date of May 23, 2023.Buying Opportunity • Apr 20Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 21%. The fair value is estimated to be €16.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 91%. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings is also forecast to decline by 14% per annum over the same time period.Reported Earnings • Apr 09Full year 2022 earnings released: EPS: US$2.16 (vs US$0.93 in FY 2021)Full year 2022 results: EPS: US$2.16 (up from US$0.93 in FY 2021). Revenue: US$11.8b (up 80% from FY 2021). Net income: US$2.55b (up 132% from FY 2021). Profit margin: 22% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Feb 21Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 1.9%. The fair value is estimated to be €20.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 91%. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings is forecast to decline by 12% per annum over the same time period.お知らせ • Feb 17+ 1 more updateTenaris S.A. Proposes Dividend, Payable on May 24, 2023Tenaris S.A. proposed dividend of $0.34 per share ($0.68 per ADS), or approximately $401 million, will be paid on May 24, 2023, with an ex-dividend date on May 22, 2023 and record date on May 23, 2023.Reported Earnings • Feb 17Full year 2022 earnings released: EPS: US$2.16 (vs US$0.93 in FY 2021)Full year 2022 results: EPS: US$2.16 (up from US$0.93 in FY 2021). Revenue: US$11.8b (up 80% from FY 2021). Net income: US$2.55b (up 132% from FY 2021). Profit margin: 22% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.お知らせ • Jan 10+ 2 more updatesTenaris S.A. to Report Q4, 2022 Results on Feb 15, 2023Tenaris S.A. announced that they will report Q4, 2022 results on Feb 15, 2023Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Simon Ayat was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Nov 06Third quarter 2022 earnings released: EPS: US$0.51 (vs US$0.28 in 3Q 2021)Third quarter 2022 results: EPS: US$0.51 (up from US$0.28 in 3Q 2021). Revenue: US$2.97b (up 70% from 3Q 2021). Net income: US$606.5m (up 84% from 3Q 2021). Profit margin: 20% (up from 19% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.Board Change • Sep 03Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Simon Ayat was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Upcoming Dividend • May 16Upcoming dividend of US$0.28 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (3.7%).Reported Earnings • Apr 28First quarter 2022 earnings released: EPS: US$0.43 (vs US$0.09 in 1Q 2021)First quarter 2022 results: EPS: US$0.43 (up from US$0.09 in 1Q 2021). Revenue: US$2.37b (up 100% from 1Q 2021). Net income: US$502.8m (up 373% from 1Q 2021). Profit margin: 21% (up from 9.0% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 27%, compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 7 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Simon Ayat was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Buying Opportunity • Mar 30Now 21% undervaluedOver the last 90 days, the stock is up 46%. The fair value is estimated to be €17.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.9% per annum. Earnings is also forecast to grow by 2.1% per annum over the same time period.Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improved over the past weekAfter last week's 18% share price gain to €13.50, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Energy Services industry in Europe. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €17.14 per share.Reported Earnings • Feb 17Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: US$0.93 (up from US$0.54 loss in FY 2020). Revenue: US$6.52b (up 27% from FY 2020). Net income: US$1.10b (up US$1.73b from FY 2020). Profit margin: 17% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 31%, compared to a 21% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.Buying Opportunity • Jan 22Now 22% undervaluedOver the last 90 days, the stock is up 3.2%. The fair value is estimated to be US$13.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% per annum over the last 3 years. The company has become profitable over the last year.Upcoming Dividend • Nov 15Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 22 November 2021. Payment date: 24 November 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.1%).Reported Earnings • Nov 05Third quarter 2021 earnings released: EPS US$0.28 (vs US$0.028 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$1.75b (up 73% from 3Q 2020). Net income: US$329.9m (up US$362.8m from 3Q 2020). Profit margin: 19% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.Board Change • Sep 19Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Simon Ayat was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.業績と収益の成長予測DB:TW10 - アナリストの将来予測と過去の財務データ ( )USD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/202813,1722,0011,8602,4791312/31/202712,7471,9521,8042,5061812/31/202612,2411,8741,7112,440163/31/202612,1591,9671,8382,396N/A12/31/202511,9811,9331,9822,600N/A9/30/202511,8312,0001,6322,305N/A6/30/202511,7692,0031,8632,538N/A3/31/202512,0051,8062,0942,800N/A12/31/202412,5242,0362,1622,866N/A9/30/202413,0942,6492,5153,210N/A6/30/202413,4162,7393,2743,955N/A3/31/202414,1693,5263,6874,361N/A12/31/202314,8693,9183,7764,395N/A9/30/202315,0743,5963,5104,083N/A6/30/202314,8113,6652,5103,028N/A3/31/202313,5373,1791,6862,115N/A12/31/202211,7632,5537701,167N/A9/30/202210,1992,116343689N/A6/30/20228,9781,839197500N/A3/31/20227,7061,497-26022N/A12/31/20216,5211,100-126119N/A9/30/20215,595837-2212N/A6/30/20214,854474394577N/A3/31/20214,5661329011,075N/A12/31/20205,147-6341,3261,520N/A9/30/20205,757-5891,4101,645N/A6/30/20206,508-4501,3211,602N/A3/31/20207,185-1601,1631,496N/A12/31/20197,294743N/A1,528N/A9/30/20197,658817N/A1,503N/A6/30/20197,794957N/A1,179N/A3/31/20197,664884N/A1,188N/A12/31/20187,659876N/A611N/A9/30/20187,143810N/A359N/A6/30/20186,547668N/A306N/A3/31/20186,001575N/A-78N/A12/31/20175,289453N/A-22N/A9/30/20174,745319N/A-88N/A6/30/20174,429219N/A168N/A3/31/20174,241117N/A581N/A12/31/20164,29414N/A864N/A9/30/20164,470-78N/A1,145N/A6/30/20165,043-437N/A1,478N/A3/31/20165,856-344N/A1,646N/A12/31/20156,903-99N/A2,215N/A9/30/20158,357213N/A2,219N/A6/30/20159,219650N/A2,292N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: TW10の収益は今後 3 年間で減少すると予測されています (年間-0.8% )。収益対市場: TW10の収益は今後 3 年間で減少すると予測されています (年間-0.8% )。高成長収益: TW10の収益は今後 3 年間で減少すると予測されています。収益対市場: TW10の収益 ( 2.1% ) German市場 ( 6.8% ) よりも低い成長が予測されています。高い収益成長: TW10の収益 ( 2.1% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: TW10の 自己資本利益率 は、3年後には低くなると予測されています ( 12.4 %)。成長企業の発掘7D1Y7D1Y7D1YEnergy 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/24 15:05終値2026/05/22 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Tenaris S.A. 18 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。44 アナリスト機関Francesco TaddeiBanca Akros S.p.A. (ESN)Francesco SalaBanca Akros S.p.A. (ESN)Francesco SalaBanca Akros S.p.A. (ESN)41 その他のアナリストを表示
Board Change • May 20Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. Independent Director Molly Montgomery was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
お知らせ • May 14Tenaris S.A. Approves Annual Dividend, Payable on May 20, 2026Tenaris S.A. announced that at the annual general shareholders' meeting held on May 12, 2026, the shareholders approved an annual dividend of USD 0.89 which represents an aggregate sum of approximately USD 0.9 billion, and which includes the interim dividend of USD 0.29 per share or approximately USD 0.3 billion, paid in November 2025. Tenaris will pay the balance of the annual dividend in the amount of USD 0.60 per share which represents approximately USD 0.6 billion, on May 20th, 2026; with a record date of May 19th, 2026, and an ex-dividend date of May 18th, 2026 for securities listed in Europe and Mexico and an ex-dividend of May 19th, 2026 for securities listed in the United States.
お知らせ • May 09Tenaris S.A. Announces CEO ChangesTenaris S.A. announced that its Board of Directors appointed Gabriel Podskubka as Chief Executive Officer. Paolo Rocca will continue to serve as Chairman of the Board. The members of the Board would like to express their profound gratitude to Paolo Rocca for his outstanding leadership in building Tenaris into the clear global leader that it is today, and is pleased that Paolo will continue to serve as Chairman. Since even before Tenaris became a public company in 2002, Paolo has shown a remarkable vision in creating a unified company providing critical and uniquely differentiated products and services to customers in the energy industry. He has been the architect of the continuous growth of the company over the past 25 years, during which he has reinforced the solid industrial values which are the foundation of its success. Mr. Podskubka has served as Tenaris’s Chief Operating Officer since 2023, coordinating sales and marketing, supply chain and production operations, and product and service development. He joined Tenaris in Argentina in 1995 and has held leadership positions across marketing, commercial and industrial functions, including heading Tenaris’s Eastern European operations in 2009 and serving as president of its Eastern Hemisphere operations from 2013 to 2023.
お知らせ • Mar 27Tenaris S.A. (BIT:TEN) acquired Oilfield Division of AllTorque Control Systems Inc.Tenaris S.A. (BIT:TEN) acquired Oilfield Division of AllTorque Control Systems Inc. on March 26, 2026. Tenaris S.A. (BIT:TEN) completed the acquisition of Oilfield Division of AllTorque Control Systems Inc. on March 26, 2026.
お知らせ • Feb 20+ 2 more updatesTenaris S.A., Annual General Meeting, May 12, 2026Tenaris S.A., Annual General Meeting, May 12, 2026.
お知らせ • Jan 29+ 2 more updatesTenaris S.A. to Report Q1, 2026 Results on May 06, 2026Tenaris S.A. announced that they will report Q1, 2026 results on May 06, 2026
お知らせ • Jan 14Tenaris S.A. to Report Q4, 2025 Results on Feb 18, 2026Tenaris S.A. announced that they will report Q4, 2025 results on Feb 18, 2026
お知らせ • Oct 30Tenaris S.A. Approves Interim Dividend, Payable on November 26, 2025board of directors of Tenaris S.A. approved the payment of an interim dividend of $0.29 per share ($0.58 per ADS), or approximately $300 million, according to the following timetable: Payment date: November 26, 2025. Record date: November 25, 2025. Ex-dividend for securities listed in the United States: November 25, 2025. Ex-dividend for securities listed in Europe and Mexico: November 24, 2025.
お知らせ • May 07Tenaris S.A. Approves Final Dividend of Fiscal Year 2024, Payable on May 21, 2025Tenaris S.A. at its annual general meeting of shareholders and extraordinary general meeting of shareholders, both held on May 6, 2025 approved an annual dividend of USD 0.83 per share (or USD 1.66 per ADR), which represents an aggregate sum of approximately USD 0.9 billion, and which includes the interim dividend of USD 0.27 per share (USD 0.54 per ADR), or approximately USD 0.3 billion, paid in November 2024. Tenaris will pay the balance of the annual dividend in the amount of USD 0.56 per share entitled to dividends (or USD 1.12 per ADR), in U.S. dollars, which represents approximately USD 0.6 billion, on May 21, 2025; with a record date of May 20, 2025, and an ex-dividend date of May 19, 2025 for securities listed in Europe and Mexico and an ex-dividend of May 20, 2025 for securities listed in the United States.
お知らせ • Apr 02Tenaris S.A., Annual General Meeting, May 06, 2025Tenaris S.A., Annual General Meeting, May 06, 2025, at 10:00 W. Europe Standard Time.
お知らせ • Feb 24+ 2 more updatesTenaris S.A. to Report Q1, 2025 Results on Apr 30, 2025Tenaris S.A. announced that they will report Q1, 2025 results at 9:05 AM, Central European Standard Time on Apr 30, 2025
お知らせ • Feb 21Tenaris S.A. Proposes Dividend, Payable on May 21, 2025Tenaris S.A. announced that Upon approval of the Company´s annual accounts in April 2025, the board of directors intends to propose, for approval of the annual general shareholders’ meeting to be held on May 6, 2025, the payment of a dividend per share of $0.83 (in an aggregate amount of approximately $0.9 billion), which would include the interim dividend per share of $0.27 (approximately $0.3 billion) paid in November 2024. If the annual dividend is approved by the shareholders, a dividend of $0.56 per share ($1.12 per ADS), or approximately $0.6 billion. Payment date: May 21, 2025. Record date: May 20, 2025. Ex-dividend for securities listed in Europe and Mexico: May 19, 2025. Ex-dividend for securities listed in the United States: May 20, 2025.
お知らせ • Dec 25Tenaris S.A. to Report Q4, 2024 Results on Feb 19, 2025Tenaris S.A. announced that they will report Q4, 2024 results on Feb 19, 2025
Declared Dividend • Nov 11Dividend of US$0.27 announcedShareholders will receive a dividend of US$0.27. Ex-date: 18th November 2024 Payment date: 20th November 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 25% over the next 3 years. However, it would need to fall by 68% to increase the payout ratio to a potentially unsustainable range.
Reported Earnings • Nov 08Third quarter 2024 earnings released: EPS: US$0.40 (vs US$0.46 in 3Q 2023)Third quarter 2024 results: EPS: US$0.40 (down from US$0.46 in 3Q 2023). Revenue: US$2.92b (down 10.0% from 3Q 2023). Net income: US$448.1m (down 17% from 3Q 2023). Profit margin: 15% (down from 17% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.4% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 2.3%. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
Buy Or Sell Opportunity • Sep 19Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 8.6% to €13.19. The fair value is estimated to be €16.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings are also forecast to decline by 7.7% per annum over the same time period.
Buy Or Sell Opportunity • Aug 29Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to €12.47. The fair value is estimated to be €15.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to decline by 3.2% per annum. Earnings are also forecast to decline by 8.0% per annum over the same time period.
Buy Or Sell Opportunity • Aug 02Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 15% to €13.14. The fair value is estimated to be €16.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to decline by 3.2% per annum. Earnings are also forecast to decline by 8.7% per annum over the same time period.
Reported Earnings • Aug 01Second quarter 2024 earnings released: EPS: US$0.29 (vs US$0.95 in 2Q 2023)Second quarter 2024 results: EPS: US$0.29 (down from US$0.95 in 2Q 2023). Revenue: US$3.32b (down 19% from 2Q 2023). Net income: US$335.2m (down 70% from 2Q 2023). Profit margin: 10% (down from 28% in 2Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • May 13Upcoming dividend of US$0.40 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (3.7%).
Buy Or Sell Opportunity • Apr 30Now 20% undervaluedOver the last 90 days, the stock has risen 6.8% to €15.78. The fair value is estimated to be €19.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 61%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings are also forecast to decline by 15% per annum over the same time period.
Reported Earnings • Apr 26First quarter 2024 earnings released: EPS: US$0.63 (vs US$0.96 in 1Q 2023)First quarter 2024 results: EPS: US$0.63 (down from US$0.96 in 1Q 2023). Revenue: US$3.44b (down 17% from 1Q 2023). Net income: US$737.0m (down 35% from 1Q 2023). Profit margin: 21% (down from 27% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.3%. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Mar 26Full year 2023 earnings released: EPS: US$3.32 (vs US$2.16 in FY 2022)Full year 2023 results: EPS: US$3.32 (up from US$2.16 in FY 2022). Revenue: US$14.9b (up 26% from FY 2022). Net income: US$3.92b (up 54% from FY 2022). Profit margin: 26% (up from 22% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth.
Declared Dividend • Feb 26Dividend of US$0.40 announcedShareholders will receive a dividend of US$0.40. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 3.6%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 3.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 40% over the next 3 years. However, it would need to fall by 80% to increase the payout ratio to a potentially unsustainable range.
お知らせ • Feb 22Tenaris S.A., Annual General Meeting, Apr 30, 2024Tenaris S.A., Annual General Meeting, Apr 30, 2024. Agenda: To consider approval of dividend payement.
Reported Earnings • Feb 22Full year 2023 earnings released: EPS: US$3.32 (vs US$2.16 in FY 2022)Full year 2023 results: EPS: US$3.32 (up from US$2.16 in FY 2022). Revenue: US$14.9b (up 26% from FY 2022). Net income: US$3.92b (up 54% from FY 2022). Profit margin: 26% (up from 22% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 5.1% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 1.7%. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
お知らせ • Jan 06+ 1 more updateTenaris S.A. to Report Q1, 2024 Results on Apr 25, 2024Tenaris S.A. announced that they will report Q1, 2024 results on Apr 25, 2024
Upcoming Dividend • Nov 13Upcoming dividend of US$0.20 per share at 3.0% yieldEligible shareholders must have bought the stock before 20 November 2023. Payment date: 22 November 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.0%).
お知らせ • Nov 04Tenaris S.A. Approves Interim Dividend, Payable on November 22, 2023Tenaris S.A. approved the payment of an interim dividend of $0.20 per share ($0.40 per ADS), or approximately $236 million. The payment date will be November 22, 2023, with an ex-dividend date on November 20, 2023 and record date on November 21, 2023.
Reported Earnings • Nov 02Third quarter 2023 earnings released: EPS: US$0.46 (vs US$0.51 in 3Q 2022)Third quarter 2023 results: EPS: US$0.46 (down from US$0.51 in 3Q 2022). Revenue: US$3.24b (up 8.8% from 3Q 2022). Net income: US$537.3m (down 11% from 3Q 2022). Profit margin: 17% (down from 20% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 6.6% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 2.2%. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 50% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Oct 27Now 21% undervaluedThe stock has been flat over the last 90 days. The fair value is estimated to be €18.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 6.0% per annum. Earnings is also forecast to decline by 21% per annum over the same time period.
Buying Opportunity • Sep 19Now 20% undervaluedOver the last 90 days, the stock is up 20%. The fair value is estimated to be €19.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 5.8% per annum. Earnings is also forecast to decline by 20% per annum over the same time period.
Buying Opportunity • Aug 23Now 20% undervaluedOver the last 90 days, the stock is up 24%. The fair value is estimated to be €19.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 38% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 5.4% per annum. Earnings is also forecast to decline by 20% per annum over the same time period.
Reported Earnings • Aug 03Second quarter 2023 earnings released: EPS: US$0.95 (vs US$0.54 in 2Q 2022)Second quarter 2023 results: EPS: US$0.95 (up from US$0.54 in 2Q 2022). Revenue: US$4.07b (up 46% from 2Q 2022). Net income: US$1.12b (up 76% from 2Q 2022). Profit margin: 28% (up from 23% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 5.2% p.a. on average during the next 3 years, while revenues in the Energy Services industry in Europe are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth.
お知らせ • Jul 06Tenaris S.A. Appoints Martin Castro as President for Canadian OperationsTenaris S.A. has appointed Martin Castro as its new president in Canada where he will oversee all commercial, manufacturing and services operations, leading a team of approximately 1,000 in the country. Castro first joined Tenaris in 2007 in Argentina as a global markets senior analyst. In 2008, he moved to the United States where he worked in planning and commercial under various roles, including commercial vice-president. He managed four regional offices across the U.S. overseeing the company’s global key accounts, the implementation of Rig Direct and other business co-ordination responsibilities to strengthen customer partnerships. He also held the position of managing director for Tenaris’s operations in Southeast Asia and Oceania. Castro, born in Argentina, graduated from the Instituto Tecnológico de Buenos Aires, Argentina, with a degree in industrial engineering. He received the degree of finance specialization from the Universidad de San Andres in Argentina, and an executive MBA from Columbia Business School in New York. Castro is a U.S. citizen.
Upcoming Dividend • May 15Upcoming dividend of US$0.34 per share at 3.8% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.5%).
お知らせ • May 05Tenaris S.A. Approves Dividend for the Year 2022, Payable on May 24, 2023Tenaris S.A. held its AGM on May 3, 2023. The shareholders meeting also approved an annual dividend of USD 0.51 per share (or USD 1.02 per ADR), which represents an aggregate sum of approximately USD 602 million, and which includes the interim dividend of USD 0.17 per share (USD 0.34 per ADR), or approximately USD 201 million, paid in November 2022. Tenaris will pay the balance of the annual dividend in the amount of USD 0.34 per share (or USD 0.68 per ADR), in U.S. dollars, on May 24, 2023, with an ex-dividend date of May 22, 2023, and record date of May 23, 2023.
Buying Opportunity • Apr 20Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 21%. The fair value is estimated to be €16.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 91%. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings is also forecast to decline by 14% per annum over the same time period.
Reported Earnings • Apr 09Full year 2022 earnings released: EPS: US$2.16 (vs US$0.93 in FY 2021)Full year 2022 results: EPS: US$2.16 (up from US$0.93 in FY 2021). Revenue: US$11.8b (up 80% from FY 2021). Net income: US$2.55b (up 132% from FY 2021). Profit margin: 22% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Feb 21Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 1.9%. The fair value is estimated to be €20.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 91%. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings is forecast to decline by 12% per annum over the same time period.
お知らせ • Feb 17+ 1 more updateTenaris S.A. Proposes Dividend, Payable on May 24, 2023Tenaris S.A. proposed dividend of $0.34 per share ($0.68 per ADS), or approximately $401 million, will be paid on May 24, 2023, with an ex-dividend date on May 22, 2023 and record date on May 23, 2023.
Reported Earnings • Feb 17Full year 2022 earnings released: EPS: US$2.16 (vs US$0.93 in FY 2021)Full year 2022 results: EPS: US$2.16 (up from US$0.93 in FY 2021). Revenue: US$11.8b (up 80% from FY 2021). Net income: US$2.55b (up 132% from FY 2021). Profit margin: 22% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth.
お知らせ • Jan 10+ 2 more updatesTenaris S.A. to Report Q4, 2022 Results on Feb 15, 2023Tenaris S.A. announced that they will report Q4, 2022 results on Feb 15, 2023
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Simon Ayat was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Nov 06Third quarter 2022 earnings released: EPS: US$0.51 (vs US$0.28 in 3Q 2021)Third quarter 2022 results: EPS: US$0.51 (up from US$0.28 in 3Q 2021). Revenue: US$2.97b (up 70% from 3Q 2021). Net income: US$606.5m (up 84% from 3Q 2021). Profit margin: 20% (up from 19% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Energy Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth.
Board Change • Sep 03Less than half of directors are independentFollowing the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Simon Ayat was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • May 16Upcoming dividend of US$0.28 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (3.7%).
Reported Earnings • Apr 28First quarter 2022 earnings released: EPS: US$0.43 (vs US$0.09 in 1Q 2021)First quarter 2022 results: EPS: US$0.43 (up from US$0.09 in 1Q 2021). Revenue: US$2.37b (up 100% from 1Q 2021). Net income: US$502.8m (up 373% from 1Q 2021). Profit margin: 21% (up from 9.0% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 27%, compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
Board Change • Apr 27Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 7 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Simon Ayat was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Buying Opportunity • Mar 30Now 21% undervaluedOver the last 90 days, the stock is up 46%. The fair value is estimated to be €17.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 9.9% per annum. Earnings is also forecast to grow by 2.1% per annum over the same time period.
Valuation Update With 7 Day Price Move • Mar 09Investor sentiment improved over the past weekAfter last week's 18% share price gain to €13.50, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Energy Services industry in Europe. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €17.14 per share.
Reported Earnings • Feb 17Full year 2021 earnings: EPS in line with analyst expectations despite revenue beatFull year 2021 results: EPS: US$0.93 (up from US$0.54 loss in FY 2020). Revenue: US$6.52b (up 27% from FY 2020). Net income: US$1.10b (up US$1.73b from FY 2020). Profit margin: 17% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 31%, compared to a 21% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
Buying Opportunity • Jan 22Now 22% undervaluedOver the last 90 days, the stock is up 3.2%. The fair value is estimated to be US$13.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% per annum over the last 3 years. The company has become profitable over the last year.
Upcoming Dividend • Nov 15Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 22 November 2021. Payment date: 24 November 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (4.1%).
Reported Earnings • Nov 05Third quarter 2021 earnings released: EPS US$0.28 (vs US$0.028 loss in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$1.75b (up 73% from 3Q 2020). Net income: US$329.9m (up US$362.8m from 3Q 2020). Profit margin: 19% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings.
Board Change • Sep 19Less than half of directors are independentThere is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. 5 independent directors (6 non-independent directors). Independent Director Simon Ayat was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.