How does TW10's PE Ratio compare to its peers?

TW10 is good value based on its Price-To-Earnings Ratio (5.1x) compared to the peer average (16.2x).

How does TW10's PE Ratio compare vs other companies in the European Energy Services Industry?

TW10 is good value based on its Price-To-Earnings Ratio (5.1x) compared to the European Energy Services industry average (10.6x).

What is TW10's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

Insufficient data to calculate TW10's Price-To-Earnings Fair Ratio for valuation analysis.

What is the Fair Price of TW10 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

TW10 (€15.63) is trading below our estimate of [[fair value]] (€17.56)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Insufficient data to show price forecast.

TW10 Stock Overview

Manufactures and distributes steel pipes for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. More details

TW10 fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	6/6
Financial Health	6/6
Dividends	4/6

Rewards

Trading at 11% below our estimate of its fair value

Earnings grew by 70% over the past year

Risk Analysis

Shares are highly illiquid

Earnings are forecast to decline by an average of 19.6% per year for the next 3 years

Unstable dividend track record

My Notes

Capture your thoughts, links and company narrative

Tenaris S.A. Competitors

Halliburton

NYSE:HAL

US$23.9b

TechnipFMC

NYSE:FTI

US$12.7b

Cactus

NYSE:WHD

US$4.9b

Baker Hughes

NasdaqGS:BKR

US$41.0b

Price History & Performance

Summary of share price highs, lows and changes for Tenaris
Historical stock prices
Current Share Price	€15.63
52 Week High	€0
52 Week Low	€0
Beta	1.48
1 Month Change	0%
3 Month Change	-0.51%
1 Year Change	-2.65%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-4.38%

Recent updates

Shareholder Returns

	TW10	BG Energy Services	BG Market
7D	0%	0%	0%
1Y	-2.6%	0%	0%

Return vs Industry: TW10 exceeded the BG Energy Services industry which returned -9.5% over the past year.

Return vs Market: TW10 underperformed the BG Market which returned 12.7% over the past year.

Price Volatility

Is TW10's price volatile compared to industry and market?
TW10 volatility
TW10 Average Weekly Movement	n/a
Energy Services Industry Average Movement	0%
Market Average Movement	0%
10% most volatile stocks in BG Market	0%
10% least volatile stocks in BG Market	0%

Stable Share Price: TW10 has not had significant price volatility in the past 3 months.

Volatility Over Time: Insufficient data to determine TW10's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2001	26,000	Paolo Rocca	www.tenaris.com

Tenaris S.A., together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines. It also manufactures sucker rods used in oil extraction activities and tubes for plumbing and construction applications; and offers oilfield/hydraulic fracturing services and energy and raw materials, and financial services.

Tenaris S.A. Fundamentals Summary

How do Tenaris's earnings and revenue compare to its market cap?
TW10 fundamental statistics
Market cap	€17.23b
Earnings (TTM)	€3.36b
Revenue (TTM)	€14.07b

5.1x

P/E Ratio

1.2x

P/S Ratio

Is TW10 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TW10 income statement (TTM)
Revenue	US$15.07b
Cost of Revenue	US$8.27b
Gross Profit	US$6.80b
Other Expenses	US$3.20b
Earnings	US$3.60b

Last Reported Earnings

Sep 30, 2023

Next Earnings Date

Feb 21, 2024

Earnings per share (EPS)	3.09
Gross Margin	45.11%
Net Profit Margin	23.86%
Debt/Equity Ratio	3.8%

How did TW10 perform over the long term?

See historical performance and comparison

Dividends

3.4%

Current Dividend Yield

18%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/02/14 05:49
End of Day Share Price	2023/11/17 00:00
Earnings	2023/09/30
Annual Earnings	2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Tenaris S.A. is covered by 61 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Christian Reos	Allaria Ledesma & Cia Sociedad de Bolsa S.A.
Fabrice Farigoule	AlphaValue
Francesco Sala	Banca Akros S.p.A. (ESN)