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TEN

TenarisBIT:TEN Stock Report

Market Cap

€10.4b

7D

-6.8%

1Y

31.9%

Updated

27 Nov, 2021

Data

Company Financials +
TEN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance3/6
Financial Health6/6
Dividends3/6

TEN Stock Overview

Tenaris S.A., through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications.

Tenaris Competitors

Caterpillar

NYSE:CAT

US$107.5b

Emerson Electric

NYSE:EMR

US$53.7b

Schlumberger

NYSE:SLB

US$41.7b

ArcelorMittal

ENXTAM:MT

€22.9b

Price History & Performance

Summary of all time highs, changes and price drops for Tenaris
Historical stock prices
Current Share Price€8.84
52 Week High€11.02
52 Week Low€6.07
Beta1.97
1 Month Change-8.15%
3 Month Change2.53%
1 Year Change31.89%
3 Year Change-16.78%
5 Year Change-43.14%
Change since IPO385.82%

Recent News & Updates

Nov 09
Tenaris (BIT:TEN) Is Posting Promising Earnings But The Good News Doesn’t Stop There

Tenaris (BIT:TEN) Is Posting Promising Earnings But The Good News Doesn’t Stop There

Tenaris S.A. ( BIT:TEN ) announced a healthy earnings result recently, and the market rewarded it with a strong stock...

Shareholder Returns

TENIT Energy ServicesIT Market
7D-6.8%-4.1%-4.8%
1Y31.9%-18.8%14.2%

Return vs Industry: TEN exceeded the Italian Energy Services industry which returned -13.1% over the past year.

Return vs Market: TEN exceeded the Italian Market which returned 19.6% over the past year.

Price Volatility

Is TEN's price volatile compared to industry and market?
TEN volatility
TEN Average Weekly Movement5.2%
Energy Services Industry Average Movement6.6%
Market Average Movement4.2%
10% most volatile stocks in IT Market7.1%
10% least volatile stocks in IT Market2.7%

Stable Share Price: TEN is not significantly more volatile than the rest of Italian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: TEN's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200119,028Paolo Roccahttps://www.tenaris.com

Tenaris S.A., through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories. It also provides sucker rods, industrial equipment, heat exchangers, and utility conduits for buildings, as well as sells energy and raw materials.

Tenaris Fundamentals Summary

How do Tenaris's earnings and revenue compare to its market cap?
TEN fundamental statistics
Market CapUS$11.81b
Earnings (TTM)US$836.71m
Revenue (TTM)US$5.59b

14.1x

P/E Ratio

2.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TEN income statement (TTM)
RevenueUS$5.59b
Cost of RevenueUS$4.04b
Gross ProfitUS$1.56b
ExpensesUS$718.53m
EarningsUS$836.71m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.71
Gross Margin27.80%
Net Profit Margin14.95%
Debt/Equity Ratio4.3%

How did TEN perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

38%

Payout Ratio

Valuation

Is Tenaris undervalued compared to its fair value and its price relative to the market?

34.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TEN (€8.84) is trading below our estimate of fair value (€13.23)

Significantly Below Fair Value: TEN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TEN is poor value based on its PE Ratio (14.1x) compared to the European Energy Services industry average (8.1x).

PE vs Market: TEN is good value based on its PE Ratio (14.1x) compared to the Italian market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: TEN is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: TEN is overvalued based on its PB Ratio (1x) compared to the XE Energy Services industry average (0.8x).


Future Growth

How is Tenaris forecast to perform in the next 1 to 3 years based on estimates from 23 analysts?

5.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TEN's forecast earnings growth (5.2% per year) is above the savings rate (1.8%).

Earnings vs Market: TEN's earnings (5.2% per year) are forecast to grow slower than the Italian market (11.1% per year).

High Growth Earnings: TEN's earnings are forecast to grow, but not significantly.

Revenue vs Market: TEN's revenue (9.3% per year) is forecast to grow faster than the Italian market (-0.4% per year).

High Growth Revenue: TEN's revenue (9.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TEN's Return on Equity is forecast to be low in 3 years time (6.1%).


Past Performance

How has Tenaris performed over the past 5 years?

-5.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TEN has high quality earnings.

Growing Profit Margin: TEN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: TEN has become profitable over the past 5 years, growing earnings by -5.2% per year.

Accelerating Growth: TEN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: TEN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Energy Services industry (11.2%).


Return on Equity

High ROE: TEN's Return on Equity (6.9%) is considered low.


Financial Health

How is Tenaris's financial position?


Financial Position Analysis

Short Term Liabilities: TEN's short term assets ($4.9B) exceed its short term liabilities ($1.7B).

Long Term Liabilities: TEN's short term assets ($4.9B) exceed its long term liabilities ($910.2M).


Debt to Equity History and Analysis

Debt Level: TEN has more cash than its total debt.

Reducing Debt: TEN's debt to equity ratio has reduced from 6.4% to 4.3% over the past 5 years.

Debt Coverage: TEN's debt is well covered by operating cash flow (41.4%).

Interest Coverage: TEN earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Dividend

What is Tenaris's current dividend yield, its reliability and sustainability?

2.70%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TEN's dividend (2.7%) is higher than the bottom 25% of dividend payers in the Italian market (1.06%).

High Dividend: TEN's dividend (2.7%) is low compared to the top 25% of dividend payers in the Italian market (3.72%).


Stability and Growth of Payments

Stable Dividend: TEN's dividend payments have been volatile in the past 10 years.

Growing Dividend: TEN's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.1%), TEN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: TEN's dividends in 3 years are forecast to be well covered by earnings (41.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

9.1yrs

Average management tenure


CEO

Paolo Rocca (68 yo)

19.08yrs

Tenure

Mr. Paolo Rocca serves the Chief Executive Officer of Tubos de Acero de México S.A. Mr. Rocca serves as Chief Executive Officer of Techint. Mr. Rocca serves as Honorary President of Techint at Ternium Side...


Leadership Team

Experienced Management: TEN's management team is seasoned and experienced (9.1 years average tenure).


Board Members

Experienced Board: TEN's board of directors are seasoned and experienced ( 16.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Tenaris S.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Tenaris S.A.
  • Ticker: TEN
  • Exchange: BIT
  • Founded: 2001
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: €10.438b
  • Shares outstanding: 1.18b
  • Website: https://www.tenaris.com

Number of Employees


Location

  • Tenaris S.A.
  • 26, Boulevard Royal
  • 4th Floor
  • Luxembourg City
  • 2449
  • Luxembourg

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/27 19:07
End of Day Share Price2021/11/26 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.