BIT:TEN

Stock Analysis Report

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Executive Summary

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. More Details


Snowflake Analysis

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has Tenaris's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TEN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.4%

TEN

-2.9%

IT Energy Services

-2.1%

IT Market


1 Year Return

-54.8%

TEN

-53.6%

IT Energy Services

-18.0%

IT Market

Return vs Industry: TEN underperformed the Italian Energy Services industry which returned -51.6% over the past year.

Return vs Market: TEN underperformed the Italian Market which returned -16.2% over the past year.


Shareholder returns

TENIndustryMarket
7 Day-1.4%-2.9%-2.1%
30 Day5.2%3.3%-0.6%
90 Day-20.4%-14.6%-5.3%
1 Year-54.3%-54.8%-52.7%-53.6%-15.8%-18.0%
3 Year-60.7%-63.1%-61.7%-64.8%-14.9%-22.9%
5 Year-57.1%-62.2%-61.6%-63.5%-9.9%-30.7%

Price Volatility Vs. Market

How volatile is Tenaris's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

43.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TEN (€4.31) is trading below our estimate of fair value (€7.58)

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


Price To Earnings Ratio

PE vs Industry: TEN is unprofitable, so we can't compare its PE Ratio to the XE Energy Services industry average.

PE vs Market: TEN is unprofitable, so we can't compare its PE Ratio to the Italian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TEN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TEN's PB Ratio (0.5x) is in line with the XE Energy Services industry average.


Next Steps

Future Growth

How is Tenaris forecast to perform in the next 1 to 3 years based on estimates from 26 analysts?

81.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TEN is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2%).

Earnings vs Market: TEN is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: TEN's is expected to become profitable in the next 3 years.

Revenue vs Market: TEN's revenue (6.3% per year) is forecast to grow faster than the Italian market (3.3% per year).

High Growth Revenue: TEN's revenue (6.3% 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 (4.9%).


Next Steps

Past Performance

How has Tenaris performed over the past 5 years?

22.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TEN is currently unprofitable.

Growing Profit Margin: TEN is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: TEN is unprofitable, but has reduced losses over the past 5 years at a rate of 22.5% per year.

Accelerating Growth: Unable to compare TEN's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TEN is unprofitable, making it difficult to compare its past year earnings growth to the Energy Services industry (-41.5%).


Return on Equity

High ROE: TEN has a negative Return on Equity (-4.11%), as it is currently unprofitable.


Next Steps

Financial Health

How is Tenaris's financial position?


Financial Position Analysis

Short Term Liabilities: TEN's short term assets ($4.5B) exceed its short term liabilities ($1.4B).

Long Term Liabilities: TEN's short term assets ($4.5B) exceed its long term liabilities ($1.1B).


Debt to Equity History and Analysis

Debt Level: TEN's debt to equity ratio (6.4%) is considered satisfactory.

Reducing Debt: TEN's debt to equity ratio has reduced from 10% to 6.4% over the past 5 years.

Debt Coverage: TEN's debt is well covered by operating cash flow (220.8%).

Interest Coverage: TEN is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

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

4.59%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TEN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TEN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TEN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TEN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: TEN is not paying a notable dividend for the Italian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TEN's dividend in 3 years as they are not forecast to pay a notable one for the Italian market.


Next Steps

Management

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

8.0yrs

Average management tenure


CEO

Paolo Rocca (67 yo)

18yrs

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

NamePositionTenureCompensationOwnership
Paolo Rocca
Chairman & CEO18yrsno datano data
Alicia Mondolo
Chief Financial Officer1.17yrsno datano data
Marcelo Ramos
Chief Technology Officer10.5yrsno datano data
Alejandro Lammertyn
Chief Digital & Information Officer0.42yrno datano data
Giovanni Sardagna
Investor Relations Directorno datano datano data
Paola Mazzoleni
Chief Human Resources Officer4.75yrsno datano data
Sergio de la Maza
President of Mexico17.75yrsno datano data
Renato Catallini
President of Brazil8yrsno datano data
Javier Alvarez
President of Southern Cone10.33yrsno datano data
Luca Zanotti
President of United States5.75yrsno datano data
Gabriel Casanova
Chief Supply Chain Officer8yrsno datano data
Gabriel Podskubka
President of Eastern Hemisphere7.5yrsno data0.00033%
$ 16.8k

8.0yrs

Average Tenure

55yo

Average Age

Experienced Management: TEN's management team is seasoned and experienced (8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Paolo Rocca
Chairman & CEO18yrsno datano data
Roberto Luis Monti
Independent Director15.75yrsno datano data
Guillermo Francisco Vogel Hinojosa
Vice Chairman of the Boardno datano data0.072%
$ 3.7m
Jaime Jose Serra Puche
Independent Director17.75yrsno datano data
Roberto Bonatti
Director17.75yrsno datano data
Carlos Alberto Condorelli
Director13.33yrsno data0.0057%
$ 289.6k
Simon Ayat
Independent Director0.33yrno datano data
Amadeo Vázquez Vazquez
Independent Director17.75yrsno datano data
Gianfelice Mario Rocca
Director17.75yrsno datano data
German Cura
Vice Chairman of the Boardno datano datano data
Yves Speeckaert
Independent Director3.42yrsno datano data
Monica Tiuba
Independent Director2.42yrsno datano data

16.4yrs

Average Tenure

69yo

Average Age

Experienced Board: TEN's board of directors are seasoned and experienced ( 16.4 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 company bio, 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: €5.090b
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
T1SS34BOVESPA (Bolsa de Valores de Sao Paulo)BRAZILIAN DEPOSITARY RECEIPTS 1 ADR X 2 BDRSBRBRLNo data
TSNYSE (New York Stock Exchange)SPONS ADR EACH REP 2 ORD SHSUSUSDDec 2002
TW1DB (Deutsche Boerse AG)SPONS ADR EACH REP 2 ORD SHSDEEURDec 2002
TNRS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2002
TS *BMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNDec 2002
TENBIT (Borsa Italiana)YesOrdinary SharesITEURDec 2002
TW11DB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2002
0HXBLSE (London Stock Exchange)YesOrdinary SharesGBEURDec 2002
TENMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 2002
TENWBAG (Wiener Boerse AG)YesOrdinary SharesATEURDec 2002

Biography

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 com ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/26 22:10
End of Day Share Price2020/10/26 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.