Last 47 quarters of trend data · Energy · Oil & Gas Equipment & Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 15.15 | 14.76 | 13.99 | 11.18 | 10.91 | 9.35 | 10.40 | 10.05 | 9.93 | 13.16 | 7.79 | 4.53 | 4.34 | 3.94 | 3.70 | 6.46 | 6.33 | 5.95 | 8.74 | 8.41 | 9.42 |
| — | +57.8% | +34.5% | +11.2% | +9.8% | -28.9% | +33.5% | +122.1% | +128.9% | +233.8% | +110.6% | -30.0% | -31.5% | -33.7% | -57.7% | -23.2% | -32.8% | -45.7% | -72.3% | -62.0% | — | |
| P/S Ratio | 2.52 | 2.36 | 2.43 | 1.67 | 1.62 | 1.63 | 1.80 | 1.82 | 1.52 | 1.31 | 1.65 | 1.50 | 1.44 | 1.09 | 1.01 | 1.44 | 1.28 | 1.35 | 1.87 | 1.51 | 1.78 |
| — | +44.7% | +34.8% | -8.5% | +7.2% | +24.8% | +8.9% | +21.9% | +5.2% | +20.4% | +63.4% | +3.8% | +12.4% | -19.8% | -46.0% | -4.7% | -27.8% | -36.0% | -33.8% | -27.3% | +23.8% | |
| P/B Ratio | 1.74 | 1.63 | 1.74 | 1.19 | 1.12 | 1.20 | 1.21 | 1.23 | 1.01 | 1.03 | 1.29 | 1.20 | 1.14 | 1.12 | 1.10 | 1.49 | 1.14 | 1.19 | 1.40 | 1.03 | 1.04 |
| — | +35.7% | +44.0% | -3.8% | +10.0% | +16.8% | -6.4% | +2.8% | -10.8% | -8.4% | +17.2% | -19.3% | -0.6% | -5.4% | -21.3% | +44.6% | +9.6% | +6.9% | +20.1% | +25.0% | +104.0% | |
| P/FCF | 15.26 | 16.48 | 14.97 | 7.51 | 34.94 | 8.76 | 8.14 | 16.72 | 12.00 | 5.71 | 7.97 | 7.64 | 4.10 | 3.73 | 5.22 | 12.94 | 30.09 | 10.77 | — | — | — |
| — | +88.1% | +84.0% | -55.1% | +191.2% | +53.4% | +2.1% | +118.8% | +192.7% | +53.3% | +52.6% | -41.0% | -86.4% | -65.4% | — | — | — | — | — | — | — | |
| EV / EBITDA | 10.35 | 8.83 | 10.02 | 8.59 | 6.37 | 6.84 | 7.46 | 7.11 | 6.40 | 6.63 | 5.63 | 5.00 | 4.61 | 3.15 | 2.81 | 4.32 | 4.03 | 4.77 | 7.14 | 7.39 | 8.36 |
| — | +29.1% | +34.2% | +20.7% | -0.3% | +3.1% | +32.6% | +42.1% | +38.6% | +110.5% | +100.1% | +15.7% | +14.4% | -34.0% | -60.6% | -41.5% | -51.8% | -56.3% | -58.5% | -41.4% | -38.0% | |
| EV / EBIT | 13.13 | 11.90 | 10.84 | 8.02 | 7.60 | 7.63 | 8.51 | 8.39 | 7.23 | 8.59 | 6.49 | 4.94 | 5.49 | 3.47 | 2.85 | 4.77 | 4.75 | 5.80 | 7.82 | 7.57 | 13.73 |
| — | +56.1% | +27.4% | -4.4% | +5.2% | -11.2% | +31.0% | +70.0% | +31.7% | +147.4% | +127.7% | +3.6% | +15.6% | -40.1% | -63.5% | -37.1% | -65.4% | -73.3% | -65.8% | -75.3% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.4% | 33.2% | 33.9% | 33.9% | 34.7% | 34.7% | 34.3% | 32.4% | 33.6% | 35.5% | 38.0% | 37.9% | 39.1% | 44.4% | 44.3% | 43.0% | 40.6% | 38.0% | 35.7% | 31.9% | 30.8% |
| — | -4.5% | -1.2% | +4.5% | +3.1% | -2.0% | -9.8% | -14.4% | -13.9% | -20.1% | -14.2% | -11.8% | -3.9% | +16.6% | +24.0% | +34.6% | +32.1% | +40.2% | +41.2% | +53.5% | +98.5% | |
| Operating Margin | 19.1% | 16.7% | 18.8% | 18.6% | 20.1% | 18.9% | 18.8% | 19.6% | 18.4% | 15.4% | 23.6% | 24.0% | 26.8% | 31.4% | 32.6% | 28.0% | 27.0% | 23.7% | 20.5% | 13.3% | 13.2% |
| — | -11.8% | +0.0% | -5.3% | +9.2% | +22.6% | -20.2% | -18.2% | -31.3% | -50.9% | -27.7% | -14.3% | -0.7% | +32.5% | +59.5% | +110.6% | +105.0% | +138.5% | +368.6% | +1934.0% | +289.6% | |
| Net Margin | 16.1% | 16.1% | 17.4% | 15.0% | 15.0% | 17.2% | 17.3% | 18.1% | 15.4% | 10.1% | 21.4% | 33.1% | 16.6% | 27.6% | 27.3% | 22.3% | 20.4% | 22.7% | 21.2% | 18.0% | 18.8% |
| — | -6.6% | +0.5% | -17.4% | -2.6% | +70.6% | -19.0% | -45.1% | -7.4% | -63.4% | -21.4% | +48.3% | -18.6% | +21.2% | +28.3% | +24.0% | +8.4% | +18.2% | +136.0% | +90.9% | +678.2% |
| Metric | TTM | Q2 '26 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.5% | 2.8% | 3.2% | 2.6% | 2.6% | 3.1% | 3.0% | 3.0% | 2.6% | 1.9% | 4.3% | 6.8% | 3.3% | 7.2% | 7.7% | 5.9% | 4.6% | 5.0% | 4.1% | 3.1% | 2.8% |
| — | -11.2% | +7.2% | -12.7% | -0.2% | +60.1% | -30.4% | -55.4% | -21.8% | -73.2% | -44.9% | +14.5% | -28.1% | +44.9% | +90.2% | +91.7% | +66.1% | +96.9% | +337.6% | +229.5% | +1064.7% | |
| ROA | 9.5% | 2.3% | 2.7% | 2.2% | 2.2% | 2.6% | 2.5% | 2.5% | 2.1% | 1.6% | 3.5% | 5.5% | 2.7% | 5.9% | 6.2% | 4.7% | 3.7% | 4.0% | 3.4% | 2.6% | 2.3% |
| — | -9.8% | +8.3% | -10.8% | +2.3% | +64.8% | -28.6% | -55.0% | -22.8% | -73.5% | -44.6% | +17.6% | -25.1% | +46.4% | +84.4% | +83.8% | +60.0% | +93.0% | +337.7% | +230.3% | +1066.5% | |
| ROIC | 10.3% | 2.2% | 2.6% | 2.5% | 2.6% | 2.6% | 2.4% | 2.5% | 2.4% | 2.3% | 3.7% | 3.8% | 4.1% | 6.2% | 7.0% | 5.6% | 4.6% | 3.9% | 2.9% | 1.7% | 1.4% |
| — | -15.1% | +8.0% | +0.3% | +12.0% | +14.0% | -33.6% | -35.2% | -41.8% | -63.5% | -47.8% | -32.3% | -11.4% | +61.2% | +142.5% | +233.5% | +217.8% | +296.9% | +772.8% | +3400.8% | +410.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.06 | 0.07 | 0.07 | 0.04 | 0.04 | 0.06 |
| — | -7.7% | -4.6% | -23.0% | -26.1% | -35.5% | -35.0% | -17.8% | -17.2% | -15.2% | -5.5% | -29.7% | -39.1% | -23.3% | +25.0% | +61.8% | +21.0% | -5.9% | -44.7% | -51.6% | -28.2% | |
| Debt / EBITDA | 0.15 | 0.57 | 0.64 | 0.78 | 0.63 | 0.64 | 0.71 | 0.80 | 0.95 | 1.13 | 0.79 | 0.74 | 0.74 | 0.58 | 0.48 | 0.71 | 1.05 | 1.06 | 0.75 | 1.05 | 1.93 |
| — | -12.2% | -10.2% | -3.2% | -33.1% | -43.1% | -9.0% | +9.0% | +28.2% | +96.9% | +63.8% | +4.3% | -29.5% | -45.9% | -36.2% | -33.0% | -45.8% | -61.4% | -80.9% | -76.9% | -78.7% | |
| Current Ratio | 3.87 | 4.07 | 4.15 | 3.87 | 4.08 | 3.41 | 4.08 | 3.50 | 3.65 | 3.11 | 3.52 | 3.62 | 3.94 | 3.71 | 3.49 | 3.04 | 2.73 | 2.55 | 2.97 | 3.19 | 2.90 |
| — | +19.1% | +1.7% | +10.4% | +11.7% | +9.9% | +15.9% | -3.2% | -7.3% | -16.2% | +1.0% | +19.2% | +44.4% | +45.3% | +17.2% | -4.9% | -5.8% | -20.1% | -15.5% | -13.1% | -18.5% | |
| Quick Ratio | 2.33 | 2.39 | 2.59 | 2.33 | 2.55 | 2.11 | 2.53 | 2.10 | 2.27 | 1.89 | 2.19 | 2.27 | 2.40 | 2.21 | 1.97 | 1.61 | 1.40 | 1.29 | 1.41 | 1.47 | 1.43 |
| — | +13.1% | +2.1% | +11.2% | +12.5% | +11.6% | +15.9% | -7.6% | -5.6% | -14.4% | +10.9% | +41.1% | +70.9% | +71.3% | +39.6% | +9.4% | -1.6% | -25.3% | -29.2% | -35.0% | -36.1% | |
| Interest Coverage | 53.71 | 49.22 | 58.24 | 39.09 | 65.79 | 66.78 | 52.02 | 68.94 | 38.12 | 42.91 | 41.57 | 50.04 | 44.02 | 35.14 | 46.18 | 53.45 | 45.27 | 108.18 | 312.03 | 60.61 | 36.54 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying TS stock.
Tenaris S.A.'s current P/E is 15.2x. The average P/E over the last 4 quarters is 12.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Tenaris S.A.'s current operating margin is 19.1%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Tenaris S.A.'s business trajectory between earnings reports.