TechnipFMC plc (FTI) vs Tenaris S.A. (TS)

TechnipFMC plc and Tenaris S.A. are both Oil & Gas Equipment & Services companies. Tenaris S.A. is the larger, with a market value of $28.5B against $24.0B — 1.2× the size. Tenaris S.A. trades at the lower P/E: 15.1× against 19.1×. TechnipFMC plc grew revenue faster over the last twelve months: 9.05% against 2.31%. Tenaris S.A. has the higher net margin (15.9% vs 12.0%) and the lower return on invested capital (9.46% vs 36.8%). Both pay a dividend; Tenaris S.A. yields more (1.02% vs 0.32%). Across the 22 metrics below, Tenaris S.A. leads on 13 and TechnipFMC plc on 9.

Valuation

Metric FTI TS Oil & Gas Equipment & Services median
P/E 19.12 15.14 20.53
P/S 2.27 2.37 1.08
P/B 7.27 1.66 1.64
Price to free cash flow 15.11 16.83 12.36
EV/EBITDA 11.70 9.14 8.00
EV/Sales 2.22 2.17 1.29
Earnings yield 5.23% 6.61% 3.88%
Free cash flow yield 6.62% 5.94% 5.18%

Profitability

Metric FTI TS Oil & Gas Equipment & Services median
Gross margin 23.60% 33.90% 22.88%
Operating margin 15.15% 18.51% 7.44%
Net margin 12.04% 15.88% 4.12%
Free cash flow margin 15.05% 14.11% 3.10%
Return on equity 38.27% 11.24% 5.46%
Return on assets 12.42% 9.39% 2.63%
Return on invested capital 36.84% 9.46% 4.26%

Growth

Metric FTI TS Oil & Gas Equipment & Services median
Revenue growth (TTM) 9.05% 2.31% 4.65%
EPS growth (last fiscal year) 20.42% 1.39% (13.00%)
Revenue growth, 5-year CAGR 8.75% 18.41% 12.57%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FTI TS Oil & Gas Equipment & Services median
Debt to equity 0.14 0.02 0.44
Current ratio 1.09 4.07 2.04
Net debt to EBITDA (0.31) (0.89) 1.12

Dividend

Metric FTI TS Oil & Gas Equipment & Services median
Dividend yield 0.32% 1.02% 1.49%
Payout ratio 0.06 0.16 0.36

Size

Metric FTI TS Oil & Gas Equipment & Services median
Market cap 23.95b 28.54b 1.44b

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