TS
EnergyTenaris S.A. · Oil & Gas Equipment & Services · $33B
What is Tenaris S.A.?
Tenaris S.A. is a global manufacturer of steel tubular products serving the oil and gas industry across five continents. Incorporated in 2002 and headquartered in Luxembourg City, the company operates as a subsidiary of Techint Holdings.
Tenaris manufactures seamless and welded steel tubes used in oil and gas drilling, completion, and production operations. Revenue flows primarily from selling casings, tubing, and mechanical pipes to energy producers, alongside premium joints, coiled tubing, and subsea pipeline products. The company also provides related services, sucker rods, heat exchangers, and utility conduits, and operates a financial services arm. Its geographic reach spans North America, South America, Europe, the Middle East and Africa, and Asia Pacific.
Tenaris was incorporated in 2002 and is headquartered in Luxembourg City, Luxembourg.
- Seamless and welded steel casings and tubing for oil and gas wells
- Coiled tubing products for drilling, workovers, and subsea pipelines
- Premium joints, couplings, and tubular accessories
- Mechanical, structural, and cold-drawn industrial pipes
- Sucker rods, heat exchangers, and utility conduits
Is TS a Good Stock to Buy?
UQS Score rates TS as Good overall, reflecting a balanced profile with meaningful strengths offset by areas of concern.
The Risk pillar stands out as the clearest positive — Tenaris carries a Strong rating there, suggesting the balance sheet and financial resilience hold up well relative to sector peers. Quality also earns a Good label, indicating the underlying business generates returns in line with expectations for a large-cap energy supplier.
Both the Moat and Growth pillars register as Weak, pointing to limited competitive differentiation and a muted near-term growth trajectory — common challenges in cyclical commodity-linked manufacturing.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does TS pay dividends?
Yes — Tenaris S.A. pays a dividend.
Tenaris pays a regular dividend, which is relatively uncommon among cyclical oilfield equipment manufacturers. The company's Strong Risk profile and consistent cash generation from its global tubular operations support this payout. Investors seeking income exposure within the energy supply chain may find the dividend cadence appealing, though payouts in the sector can fluctuate with commodity cycles.
When does TS report earnings?
Tenaris reports earnings on a quarterly cadence, consistent with standard practice for NYSE-listed equities.
Results have historically tracked oil and gas drilling activity across its key regions. Revenue and margins tend to move with rig counts and energy capital expenditure cycles rather than company-specific catalysts. The Quality pillar rating suggests performance has been broadly in line with sector expectations.
For the most recent quarter's results and guidance, visit Tenaris's investor relations page directly.
TS Price History
+212.0% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Tenaris S.A.?
Based on Tenaris S.A.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
TS Long-term Outlook
The Growth pillar's Weak label reflects a challenging near-term demand environment for tubular products, tied closely to global drilling investment levels. Meanwhile, the Strong Risk rating suggests the company is positioned to weather downturns without significant financial stress. The Neutral Valuation label indicates the market is pricing TS broadly in line with fundamentals — neither deeply discounted nor stretched.
Growth drivers
- Recovery in global oil and gas capital expenditure driving tubular demand
- Expansion in deepwater and unconventional drilling markets
- Geographic diversification across high-growth energy regions
Key risks
- Cyclical exposure to oil price volatility and rig count declines
- Weak Moat rating signals limited pricing power versus lower-cost competitors
- Neutral Valuation leaves little margin of safety if earnings disappoint
TS vs Peers
Tenaris competes within the broader oilfield equipment and services space alongside several large-cap peers.
Halliburton focuses on completion and production services rather than tubular manufacturing, giving it broader exposure to well services spending.
TechnipFMC specializes in subsea and surface technologies, competing with Tenaris primarily in the subsea pipeline and umbilical segment.
Baker Hughes spans oilfield services and industrial energy technology, offering a more diversified revenue mix than Tenaris's tubular-focused model.
Frequently Asked Questions
What does Tenaris do?
Tenaris manufactures seamless and welded steel tubular products — casings, tubing, mechanical pipes, and related accessories — used primarily in oil and gas drilling and production. It also provides coiled tubing, subsea pipeline products, sucker rods, and heat exchangers, and operates across five global regions.
Does TS pay dividends?
Yes, Tenaris pays a regular dividend. The company's Strong Risk profile and cash generation from its global operations support the payout. As with most energy-sector companies, dividend levels can be influenced by commodity price cycles and capital allocation priorities.
When does TS report earnings?
Tenaris reports on a quarterly cadence, in line with standard NYSE-listed company practice. For the exact schedule and most recent results, check the investor relations section of the Tenaris website directly.
Is TS a good stock to buy?
UQS Score rates TS as Good overall. The Strong Risk pillar and Good Quality rating are positives, while the Weak Moat and Weak Growth labels highlight real limitations. Whether TS fits your portfolio depends on your risk tolerance and view on energy sector cycles — the full pillar breakdown is available to Pro members.
Is TS overvalued?
The UQS Valuation pillar for TS is rated Neutral, suggesting the market is pricing the stock broadly in line with its fundamentals. It does not appear deeply discounted, but it is not flagged as significantly stretched either. Pro members can view the detailed valuation metrics behind this rating.
How does TS compare to its competitors?
Tenaris is more narrowly focused on tubular products than peers like Halliburton or Baker Hughes, which span broader oilfield services. TechnipFMC overlaps in subsea applications. Tenaris's differentiation lies in its global manufacturing scale and product specialization rather than service breadth.
What is TS's market cap bracket?
Tenaris is classified as a large-cap company, reflecting its significant global manufacturing footprint and multi-regional revenue base within the oilfield equipment supply chain.
Who founded Tenaris?
Tenaris was incorporated in 2002 as the publicly listed vehicle for the tubular operations of the Techint Group, a multinational industrial conglomerate. Founding context and corporate history are detailed on Tenaris's official website and investor relations materials.
Is TS a long-term quality investment?
From a quality-indicator perspective, TS earns a Good UQS Score, with a Strong Risk rating suggesting financial resilience over cycles. However, the Weak Moat and Weak Growth labels indicate the company may face headwinds in building durable competitive advantages or expanding earnings over the long term. Pro members can access the complete analysis.
What is the main competitive advantage of Tenaris?
Tenaris's scale across global manufacturing facilities and its broad product range — from standard casings to premium joints and subsea tubing — provide operational reach that smaller producers struggle to match. That said, the UQS Moat pillar rates this advantage as Weak relative to the broader universe, reflecting the commoditized nature of much of its product line.
What sector does TS belong to?
Tenaris operates in the Energy sector, specifically within oilfield equipment and services. Its revenues are closely tied to global oil and gas drilling activity, making it sensitive to energy capital expenditure trends and commodity price cycles.
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Pro Analysis
TS — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 53.0 | 60.7 | 37.0 | 18.5 | 100.0 | 65.5 | +3.2 |
| May 7, 2026 | 49.8 | 62.2 | 37.0 | 12.1 | 100.0 | 50.6 | 0.0 |
| May 3, 2026 | 49.8 | 62.2 | 37.0 | 12.1 | 100.0 | 50.4 | 0.0 |
| Apr 26, 2026 | 49.8 | 62.2 | 37.0 | 12.1 | 100.0 | 50.5 | -0.2 |
| Apr 22, 2026 | 50.0 | 62.2 | 37.0 | 11.6 | 100.0 | 52.3 | -3.1 |
| Apr 21, 2026 | 53.1 | 73.2 | 37.0 | 13.6 | 100.0 | 52.3 | +0.2 |
| Apr 19, 2026 | 52.9 | 73.2 | 37.0 | 12.6 | 100.0 | 52.1 | +0.1 |
| Apr 18, 2026 | 52.8 | 73.2 | 37.0 | 12.6 | 100.0 | 51.4 | 0.0 |
| Apr 14, 2026 | 52.8 | 73.2 | 37.0 | 12.6 | 100.0 | 51.3 | 0.0 |
| Apr 12, 2026 | 52.8 | 73.2 | 37.0 | 12.6 | 100.0 | 51.5 | -0.1 |
TS — Pillar Breakdown
Quality
— 60.7/100 (25%)Tenaris S.A. shows solid profitability with healthy returns on capital and reasonable margins.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 18.5/100 (20%)Tenaris S.A. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 100.0/100 (15%)Tenaris S.A. carries minimal financial risk with conservative leverage and strong solvency.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 65.7/100 (15%)Tenaris S.A. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 37/100 (25%)Tenaris S.A. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for TS.
Score Composition
Financial Data
More Stock Analysis
How is the TS UQS Score Calculated?
The UQS (Unified Quality Score) for Tenaris S.A. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Tenaris S.A.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Tenaris S.A. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.