Tenaris S.A.

TS Energy Oil & Gas Equipment & Services

Tenaris S.A.’s revenue for fiscal 2025 (year ended December 2025) was $12.0 billion, down 4.33% from fiscal 2024.

Revenue
−3.86%
EPS
−4.04%
Free cash flow
−33.3%
Total debt
−6.90%

Quarter to June 2026, against a year earlier

56.62 0.70 +1.25%
Market cap
$28.5B
P/E
15.1×
Fwd P/E
—
Dividend yield
1.02%
F-score
6/9
Altman Z
6.38
Beneish M
−2.55
Dividend safety
69/100

Tenaris S.A. (TS) Operating margin

Alert me on Operating margin

Tenaris S.A.'s operating margin over the twelve months to 30 June 2026 was 18.5%, down 0.6 percentage points from fiscal 2025 (19.1%). Over the past ten years it has ranged from −12.9% (fiscal 2020) to 29.0% (fiscal 2023); the current reading is higher than 73% of that period. That is above the Oil & Gas Equipment & Services industry median of 7.44% and above the Energy sector median of 15.2%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 19.1% (0.25)
FY2024 19.3% (9.72)
FY2023 29.0% 3.84
FY2022 25.2% 14.34
FY2021 10.9% 23.73
FY2020 −12.9% (24.29)
FY2019 11.4% 0.03
FY2018 11.4% 5.05
FY2017 6.33% 7.71
FY2016 −1.38% (3.78)

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 16.7% (2.18)
Mar 2026 18.8% 0.34
Dec 2025 18.5% (1.54)
Sep 2025 20.0% 1.14
42 more quarters

Against its own ten years

Low −12.9% High 29.0%
Ten-year median 11.4%
Current reading's percentile 67

Operating margin against peers

Company Operating margin
AROC Archrock, Inc. compare 37.7%
WHD Cactus, Inc. compare 18.8%
TS Tenaris S.A. 18.5%
FTI TechnipFMC plc compare 15.2%
BKR Baker Hughes Company compare 13.4%
HAL Halliburton Company compare 12.6%
WFRD Weatherford International PLC compare 12.4%
SLB SLB Limited compare 12.2%
NOV NOV Inc. compare 5.46%
Oil & Gas Equipment & Services industry median 7.44%
Energy sector median 15.2%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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