Tenaris S.A. (TNRSF)
Energy · PNK
Fundamentals
Valuation and ratings
Tenaris S.A. trades at USD27.56, which is 100% below the USD55.19 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 57 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 14.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
TNRSF dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.600 | 1 |
| 2025 | USD0.850 | 2 |
| 2024 | USD0.670 | 2 |
| 2023 | USD0.540 | 2 |
| 2022 | USD0.450 | 2 |
| 2021 | USD0.270 | 2 |
| 2020 | USD0.070 | 1 |
| 2019 | USD0.410 | 2 |
| 2018 | USD0.410 | 2 |
| 2017 | USD0.410 | 2 |
| 2016 | USD0.430 | 2 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
TNRSF earnings and analyst estimates
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Tenaris S.A.
Tenaris S.A., together with its subsidiaries, manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. It provides steel casings to sustain the walls of oil and gas wells during and after drilling; steel tubing for conducting crude oil and natural gas to the surface after drilling has been completed; steel line pipes to transport crude oil and natural gas from wells to refineries, storage tanks, and loading and distribution centers; and mechanical and structural pipes for the transportation of other forms of gas and liquids under high pressure. The company also offers cold-drawn pipes for use in boilers, superheaters, condensers, heat exchangers, automobile production, and other industrial applications; premium joints and couplings for use in high temperature or high pressure environments under the TenarisHydril brand name; coiled tubing is used for oil and gas drilling and well workovers and for subsea pipelines; sucker rods used in oil extraction activities, tubes used for plumbing and construction applications, and oilfield / hydraulic fracturing services; pipe coating services; and automotive components. In addition, it engages in the sale of energy and raw materials; development, management, and licensing of intellectual property; procurement and trading services; and financial operations, as well as markets steel products. Further, the company manufactures and markets connections; and welded and seamless steel pipes. Tenaris S.A. was incorporated in 2001 and is based in Luxembourg, Luxembourg. Tenaris S.A. operates as a subsidiary of Techint Holdings S.àr.l.
TNRSF passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Tenaris S.A. (TNRSF) undervalued?
Against our discounted cash flow estimate of USD55.19, TNRSF at USD27.56 is 100% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is TNRSF's P/E ratio?
TNRSF trades at 14.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Tenaris S.A. (TNRSF) pay a dividend?
Yes. Tenaris S.A. yields 3.23% at the current share price. It has paid USD0.890 per share over the trailing twelve months. It has paid a dividend in each of the last 13 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
When does TNRSF report earnings next?
Tenaris S.A. is scheduled to report on 5 Aug 2026. Companies move earnings dates, so read it as scheduled rather than certain.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.