Tenaris S.A. (TS) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 9.6B | 9.07B | 9.36B | 9.16B | 9.3B | 9.24B | 9.92B | 9.82B | 10.34B | 10.5B | 9.96B | 9.63B | 9.2B | 8.47B | 7.59B | 6.82B | 5.78B | 4.98B | 4.89B | 4.67B |
| Cash & Short-Term Investments | 3.42B | 2.88B | 2.99B | 3.05B | 3.35B | 3.05B | 3.51B | 3.3B | 3.57B | 3.61B | 3.36B | 2.61B | 1.94B | 1.53B | 1.43B | 1.2B | 669.5M | 715.98M | 971.64M | 1.16B |
| Cash Only | 1.15B | 572.65M | 547.18M | 572.29M | 770.21M | 675.26M | 715.03M | 850.24M | 1.32B | 1.64B | 864.04M | 755.3M | 861.49M | 1.09B | 994.85M | 636.57M | 315.4M | 318.13M | 513.78M | 587.34M |
| Short-Term Investments | 2.27B | 2.31B | 2.44B | 2.48B | 2.58B | 2.37B | 2.8B | 2.45B | 2.25B | 1.97B | 2.5B | 1.85B | 1.08B | 438.45M | 434.57M | 559.83M | 354.1M | 397.85M | 457.86M | 573.68M |
| Accounts Receivable | 2.38B | 1.96B | 2.55B | 2.37B | 2.25B | 2.43B | 2.39B | 2.68B | 2.86B | 2.48B | 2.45B | 2.92B | 3.06B | 2.49B | 2.23B | 2.09B | 1.94B | 1.5B | 1.29B | 1.27B |
| Days Sales Outstanding | 62.67 | 69.15 | 76.25 | 68.16 | 72.19 | 77.93 | 79.92 | 75.82 | 70.57 | 66.45 | 76.3 | 66.74 | 60.34 | 59.97 | 66.77 | 65.48 | 65.27 | 62.33 | 67.28 | 69.66 |
| Inventory | 3.61B | 3.6B | 3.51B | 3.49B | 3.52B | 3.71B | 3.76B | 3.83B | 3.91B | 3.92B | 3.88B | 3.88B | 3.99B | 3.99B | 3.68B | 3.37B | 3.03B | 2.69B | 2.48B | 2.15B |
| Days Inventory Outstanding | 157.65 | 144.72 | 166.03 | 158.3 | 169.36 | 178.82 | 180.56 | 164.42 | 167 | 169.33 | 181.1 | 158.06 | 155.57 | 170.85 | 183.57 | 167.87 | 169.18 | 169.74 | 175.11 | 165.69 |
| Other Current Assets | 196.71M | 635.31M | 315.01M | 247.63M | 178.38M | 7.48M | 8.73M | 4.99M | 2.88M | 391.01M | 258.54M | 217.35M | 205.28M | 410.33M | 254.47M | 161.72M | 137.73M | 62.97M | 146.69M | 93.22M |
| Total Non-Current Assets | 10.92B | 11B | 11.11B | 11.25B | 11.32B | 11.21B | 11.22B | 11.28B | 11.2B | 10.58B | 9.88B | 9.63B | 9.44B | 9.08B | 9.27B | 9.36B | 9.5B | 9.47B | 9.65B | 9.54B |
| Property, Plant & Equipment | 6.32B | 6.35B | 6.36B | 6.32B | 6.33B | 6.27B | 6.3B | 6.25B | 6.23B | 6.21B | 6.03B | 5.89B | 5.67B | 5.67B | 5.75B | 5.77B | 5.89B | 5.93B | 6.15B | 6.25B |
| Fixed Asset Turnover | 0.49x | 0.47x | 0.47x | 0.49x | 0.46x | 0.45x | 0.46x | 0.53x | 0.55x | 0.56x | 0.54x | 0.70x | 0.73x | 0.63x | 0.52x | 0.48x | 0.40x | 0.34x | 0.28x | 0.24x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 1.09B | 0 | 0 | 0 | 1.1B | 0 | 0 | 0 | 1.09B | 0 | 0 | 0 | 1.08B | 0 | 0 |
| Intangible Assets | 0 | 1.36B | 1.36B | 1.36B | 1.36B | 267.73M | 1.36B | 0 | 0 | 273.4M | 0 | 0 | 1.33B | 247.46M | 1.35B | 0 | 1.37B | 287.53M | 0 | 1.4B |
| Long-Term Investments | 2.41B | 2.32B | 2.56B | 2.74B | 2.59B | 2.55B | 2.57B | 2.67B | 2.67B | 2.01B | 2.32B | 2.19B | 2.21B | 1.66B | 1.91B | 1.96B | 1.98B | 1.85B | 1.86B | 1.65B |
| Other Non-Current Assets | 0 | 973.38M | 0 | 0 | 197.41M | 205.6M | 199.46M | 194.1M | 177.22M | 185.96M | 0 | 0 | 0 | 211.72M | 0 | 0 | 0 | 63.09M | 0 | 0 |
| Total Assets | 20.51B | 20.07B | 20.47B | 20.41B | 20.62B | 20.45B | 21.14B | 21.1B | 21.55B | 21.08B | 19.84B | 19.26B | 18.64B | 17.55B | 16.86B | 16.18B | 15.27B | 14.45B | 14.54B | 14.21B |
| Asset Turnover | 0.15x | 0.15x | 0.15x | 0.15x | 0.14x | 0.14x | 0.14x | 0.16x | 0.16x | 0.17x | 0.17x | 0.22x | 0.23x | 0.21x | 0.18x | 0.18x | 0.16x | 0.14x | 0.12x | 0.11x |
| Asset Growth % | -0.51% | -1.85% | -3.19% | -3.28% | -4.31% | -3% | 6.56% | 9.56% | 15.6% | 20.12% | 17.66% | 19.06% | 22.03% | 21.46% | 15.96% | 13.81% | 10.66% | 5.35% | 4.89% | 2.29% |
| Total Current Liabilities | 2.32B | 2.35B | 2.29B | 2.68B | 2.28B | 2.64B | 2.72B | 3.16B | 2.94B | 2.9B | 2.53B | 2.6B | 2.64B | 2.79B | 2.78B | 2.67B | 1.94B | 1.56B | 1.69B | 1.46B |
| Accounts Payable | 845.91M | 872.91M | 830.17M | 910.43M | 831.72M | 880.26M | 962.36M | 1.02B | 1.04B | 1.11B | 999.21M | 1.02B | 1.07B | 1.18B | 1.01B | 998.81M | 1.01B | 845.26M | 791.42M | 730.09M |
| Days Payables Outstanding | 37.59 | 34.67 | 41.33 | 39.37 | 40.11 | 44.09 | 47.12 | 43.77 | 45.82 | 45.7 | 47.07 | 41.9 | 43.82 | 48.82 | 52.34 | 52.57 | 54.74 | 53.76 | 57.63 | 55.75 |
| Short-Term Debt | 379.48M | 305.35M | 378.78M | 319.92M | 345.18M | 426M | 486M | 559.52M | 608.28M | 535.13M | 630.27M | 672.02M | 569.39M | 682.33M | 859.09M | 756.85M | 375.01M | 254.09M | 441.65M | 351.34M |
| Deferred Revenue (Current) | 153.58M | 0 | 182.92M | 139.75M | 228.09M | 0 | 324.38M | 298.16M | 239.34M | 263.66M | 160.53M | 100.6M | 136.17M | 242.91M | 324.62M | 343.61M | 96.91M | 92.44M | 56.74M | 37.58M |
| Other Current Liabilities | 567.41M | 1.12B | 554.17M | 958.62M | 519.15M | 649.6M | 605.68M | 852.86M | 532.35M | 656.56M | 358.96M | 420.61M | 356.72M | 334.76M | 300.42M | 340.7M | 293.45M | 119.72M | 291.51M | 260.31M |
| Current Ratio | 4.15x | 3.87x | 4.08x | 3.41x | 4.08x | 3.50x | 3.65x | 3.11x | 3.52x | 3.62x | 3.94x | 3.71x | 3.49x | 3.04x | 2.73x | 2.55x | 2.97x | 3.19x | 2.90x | 3.20x |
| Quick Ratio | 2.59x | 2.33x | 2.55x | 2.11x | 2.53x | 2.10x | 2.27x | 1.89x | 2.19x | 2.27x | 2.40x | 2.21x | 1.97x | 1.61x | 1.40x | 1.29x | 1.41x | 1.47x | 1.43x | 1.73x |
| Cash Conversion Cycle | 182.73 | 179.21 | 200.96 | 187.1 | 201.44 | 212.66 | 213.35 | 196.48 | 191.76 | 190.08 | 210.34 | 182.9 | 172.1 | 182.01 | 198 | 180.78 | 179.71 | 178.3 | 184.76 | 179.6 |
| Total Non-Current Liabilities | 851.8M | 896.85M | 912.38M | 931.46M | 940.46M | 999.63M | 1B | 1.02B | 998.89M | 1.15B | 910.52M | 877.32M | 805.43M | 727.39M | 743.26M | 709.58M | 677.27M | 784.08M | 910.17M | 1.09B |
| Long-Term Debt | 360K | 368K | 2.25M | 4.36M | 7.44M | 11.4M | 14.4M | 21.39M | 28.12M | 48.3M | 25.25M | 51M | 56.74M | 46.43M | 47.16M | 16.93M | 7.91M | 111.43M | 111.44M | 290.07M |
| Capital Lease Obligations | 93.67M | 94.9M | 96.47M | 94.17M | 91.15M | 100.44M | 103.12M | 108.81M | 97.08M | 96.6M | 86.4M | 88.31M | 82.12M | 83.62M | 84.92M | 83.31M | 88.99M | 82.69M | 180.7M | 189.39M |
| Deferred Tax Liabilities | 388.65M | 0 | 463.02M | 472.64M | 472.79M | 503.94M | 479.19M | 495.37M | 488.08M | 631.61M | 447.05M | 376.68M | 329.86M | 269.07M | 284.55M | 279.8M | 261.31M | 274.72M | 291.07M | 283.19M |
| Other Non-Current Liabilities | 369.12M | 801.58M | 350.63M | 360.29M | 369.08M | 383.86M | 405.86M | 397.78M | 385.61M | 372.98M | 351.81M | 361.33M | 336.71M | 328.27M | 326.63M | 329.54M | 319.06M | 315.24M | 326.96M | 325.25M |
| Total Liabilities | 3.17B | 3.24B | 3.21B | 3.61B | 3.22B | 3.64B | 3.72B | 4.18B | 3.94B | 4.05B | 3.44B | 3.47B | 3.44B | 3.52B | 3.53B | 3.38B | 2.62B | 2.34B | 2.6B | 2.55B |
| Total Debt | 473.52M | 448.97M | 477.51M | 472.37M | 497.83M | 582.32M | 652.14M | 737.26M | 775.58M | 717.87M | 741.92M | 811.33M | 708.25M | 840.94M | 991.17M | 857.1M | 471.9M | 448.22M | 733.8M | 830.79M |
| Net Debt | -678.61M | -123.68M | -69.67M | -99.92M | -272.38M | -92.93M | -62.89M | -112.98M | -547.77M | -919.95M | -122.12M | 56.02M | -153.25M | -250.59M | -3.68M | 220.53M | 156.5M | 130.09M | 220.02M | 243.46M |
| Debt / Equity | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.04x | 0.04x | 0.04x | 0.04x | 0.05x | 0.05x | 0.05x | 0.06x | 0.07x | 0.07x | 0.04x | 0.04x | 0.06x | 0.07x |
| Debt / EBITDA | 0.64x | 0.59x | 0.63x | 0.64x | 0.71x | 0.80x | 0.95x | 1.13x | 0.79x | 0.74x | 0.74x | 0.58x | 0.48x | 0.71x | 1.05x | 1.06x | 0.75x | 1.05x | 1.93x | 2.76x |
| Net Debt / EBITDA | -0.92x | -0.16x | -0.09x | -0.14x | -0.39x | -0.13x | -0.09x | -0.17x | -0.55x | -0.94x | -0.12x | 0.04x | -0.10x | -0.21x | -0.00x | 0.27x | 0.25x | 0.31x | 0.58x | 0.81x |
| Interest Coverage | 50.03x | 39.12x | 65.79x | 66.78x | 52.02x | 68.94x | 38.12x | 42.91x | 41.57x | 50.04x | 44.02x | 35.14x | 46.18x | 53.45x | 45.27x | 108.18x | 312.03x | 60.61x | 36.54x | 26.02x |
| Total Equity | 17.35B | 16.83B | 17.26B | 16.79B | 17.4B | 16.81B | 17.42B | 16.92B | 17.61B | 17.03B | 16.4B | 15.79B | 15.19B | 14.03B | 13.33B | 12.79B | 12.65B | 12.11B | 11.94B | 11.66B |
| Equity Growth % | -0.28% | 0.09% | -0.92% | -0.72% | -1.21% | -1.27% | 6.22% | 7.16% | 15.89% | 21.35% | 22.99% | 23.39% | 20.08% | 15.93% | 11.66% | 9.69% | 10.32% | 5.76% | 5.06% | 2.52% |
| Book Value per Share | 69.30 | 32.38 | 32.05 | 31.19 | 32.31 | 30.62 | 31.34 | 29.73 | 30.36 | 28.96 | 27.78 | 26.71 | 25.74 | 23.64 | 22.59 | 21.67 | 21.44 | 20.28 | 20.23 | 19.76 |
| Total Shareholders' Equity | 17.09B | 16.6B | 17.04B | 16.58B | 17.16B | 16.59B | 17.2B | 16.71B | 17.41B | 16.84B | 16.23B | 15.63B | 15.07B | 13.91B | 13.2B | 12.65B | 12.51B | 11.96B | 11.76B | 11.49B |
| Common Stock | 0 | 16.6B | 0 | 1.07B | 1.16B | 1.16B | 1.16B | 1.16B | 1.18B | 1.18B | 1.18B | 1.18B | 1.18B | 1.18B | 1.18B | 0 | 1.18B | 1.18B | 1.18B | 1.18B |
| Retained Earnings | 0 | 0 | 0 | 17.3B | 18.25B | 17.74B | 17.52B | 17.08B | 17.48B | 16.74B | 15.85B | 15.31B | 14.59B | 13.46B | 12.85B | 0 | 11.94B | 11.44B | 11.22B | 10.89B |
| Treasury Stock | 0 | 0 | 0 | -236.74M | -1.59B | -1.36B | -898.93M | -744.56M | -524.8M | -213.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | -1.55B | -1.27B | -1.57B | -1.2B | -1.4B | -1.34B | -1.48B | -1.41B | -1.48B | -1.32B | -1.35B | -1.44B | 0 | -1.22B | -1.27B | -1.25B | -1.2B |
| Minority Interest | 253.03M | 229.88M | 218.09M | 211.12M | 231.99M | 220.58M | 219.17M | 208.57M | 201.56M | 187.47M | 170.59M | 160.89M | 129.45M | 128.73M | 129.9M | 144.37M | 145.79M | 145.12M | 178.73M | 178.49M |