Tenaris S.A. (TS) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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TS Revenue Growth
TS Revenue Analysis (2014–2025)
As of May 8, 2026, Tenaris S.A. (TS) generated trailing twelve-month (TTM) revenue of $11.97 billion, reflecting solid growth of +5.3% year-over-year. The most recent quarter (Q4 2025) recorded $3.00 billion in revenue, up 1.0% sequentially.
Looking at the longer-term picture, TS's 5-year compound annual growth rate (CAGR) stands at +18.4%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $14.87 billion in 2023.
When compared to Energy sector peers including VMC (+7.3% YoY), NX (+28.4% YoY), and STLD (+10.4% YoY), TS has underperformed the peer group in terms of revenue growth. Compare TS vs VMC →
TS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TSCurrent | $12.0B | +5.3% | +18.4% | 19.1% | |
 VMC | $7.9B | +7.3% | +10.3% | 20.1% | |
 NX | $1.8B | +28.4% | +16.6% | -10.6% | |
 STLD | $18.2B | +10.4% | +13.6% | 8.1% | |
 NUE | $32.5B | +12.3% | +10.0% | 8.2% | |
 RS | $14.3B | +8.5% | +10.2% | 7.2% |
TS Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $11.98B | -4.3% | $4.12B | 34.4% | $2.28B | 19.1% |
| 2024 | $12.52B | -15.8% | $4.39B | 35.0% | $2.42B | 19.3% |
| 2023 | $14.87B | +26.4% | $6.20B | 41.7% | $4.32B | 29.0% |
| 2022 | $11.76B | +80.4% | $4.67B | 39.7% | $2.96B | 25.2% |
| 2021 | $6.52B | +26.7% | $1.91B | 29.3% | $707.5M | 10.8% |
| 2020 | $5.15B | -29.4% | $1.06B | 20.6% | $-663,071,000 | -12.9% |
| 2019 | $7.29B | -4.8% | $2.19B | 30.0% | $832.4M | 11.4% |
| 2018 | $7.66B | +44.8% | $2.38B | 31.1% | $871.8M | 11.4% |
| 2017 | $5.29B | +23.2% | $1.60B | 30.3% | $334.6M | 6.3% |
| 2016 | $4.29B | -39.5% | $1.13B | 26.3% | $-59,057,000 | -1.4% |
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Start ComparisonTS — Frequently Asked Questions
Quick answers to the most common questions about buying TS stock.
Is TS's revenue growth accelerating or slowing?
TS maintains +5.3% revenue growth, in line with its 5-year CAGR of +18.4%. TTM revenue stands at $12.0B. Growth rate remains consistent with historical average.
What is TS's long-term revenue growth rate?
Tenaris S.A.'s 5-year revenue CAGR of +18.4% reflects the sustained expansion pattern. Current YoY growth of +5.3% is near this long-term average.
How is TS's revenue distributed by segment?
TS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.