TEN.MI · MIL FTSE MIB

Tenaris S.A.

Energy · Oil & Gas Equipment & Services

€27.44 +€0.32 (+1.18%) today

Closing price on Nov 11, 2026 · Source: Yahoo Finance

Consensus of 15 analysts

Buy

Median price target €29.05 +5.9%

Open: €27.11
Day range: 27.11 – €27.47
52-week range: 16.10 – €27.82
Volume: 392,256
Market cap: €27,705M
P/E (TTM): 16.6x
EPS (TTM): €1.65
EPS est. 2026: €2.03
P/E est. 2026: 13.5x
Dividend yield: 4.3%
Beta: 0.43
Payout: 46%

Tenaris financials

Q3 2026 results, quarter ended Sep 30, 2026

Metric	Q3 2026	1-year change
Total revenue	€3,102M	+4.2%
Net income	€509M	+14.2%
Earnings per share	€0.50	+17.6%
Net margin	16.4%	+1.4 pp
Free cash flow	€265M	+99.1%
Debt / equity	0.03	+2.7%

Revenue and net income (€M)

Total revenueNet income

Quarter	Total revenue	Net income
Q3 2025	€2,978M	€446M
Q4 2025	€2,995M	€449M
Q1 2026	€3,100M	€541M
Q2 2026	€2,967M	€477M
Q3 2026	€3,102M	€509M

Tenaris earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ4 2026 · Analysts: 3	€0.5550.55 – 0.57	+26.2%€0.440
Next quarterQ1 2027 · Analysts: 2	€0.5900.55 – 0.63	+9.3%€0.540
Current year2026 · Analysts: 14	€2.0261.87 – 2.20	+10.7%€1.830
Next year2027 · Analysts: 14	€2.3591.93 – 2.80	+16.4%€2.026

Forward P/E: 13.5x (2026) and 11.6x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q3 2025	€0.425	—
Q4 2025	€0.440	€0.405
Q1 2026	€0.540	€0.453
Q2 2026	€0.470	€0.416
Q3 2026	€0.500	€0.413
Q4 2026	—	€0.555
Q1 2027	—	€0.590

Year	Actual EPS	Estimated EPS
2022	€2.160	—
2023	€3.320	—
2024	€1.810	—
2025	€1.830	—
2026	—	€2.026
2027	—	€2.359

EPS trend

Quarter	EPS	YoY change
Q1 2027Estimated	€0.590	+9.3%
Q4 2026Estimated	€0.555	+26.2%
Q3 2026	€0.500est. €0.413 · surprise +21.2%	+17.6%
Q2 2026	€0.470est. €0.416 · surprise +13.1%	n/a
Q1 2026	€0.540est. €0.453 · surprise +19.3%	n/a
Q4 2025	€0.440est. €0.405 · surprise +8.7%	n/a
Q3 2025	€0.425	n/a

Year	EPS	Annual change
2027Estimated	€2.359	+16.4%
2026Estimated	€2.026	+10.7%
2025	€1.830	+1.1%
2024	€1.810	−45.5%
2023	€3.320	+53.7%
2022	€2.160	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

Tenaris dividend

Yield and payments

Dividend yield (TTM)	4.3%
Forward yield (next 12m)	2.8%
Dividend per share (TTM)	€1.19
Forward dividend (next 12m)	€0.77
Payout (TTM)	46%
Last dividend	€0.539May 18, 2026
Next ex-dividend date	Nov 23, 2026

Dividend per share by year (€)

PaidEstimated

Year	Dividend per share
2019	€0.368
2020	€0.063
2021	€0.243
2022	€0.404
2023	€0.485
2024	€0.602
2025	€0.764
est. 12m	€0.77

Tenaris forecasts

15 analyst ratings

Buy53% Hold40% Sell7%

Consensus: Buy · 8 buy, 6 hold, 1 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€40.07	+46.0%
Median	€29.05	+5.9%
Low	€23.19	−15.5%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€17.38
Dec 30, 2025	€16.51
Jan 30, 2026	€18.76
Feb 27, 2026	€23.12
Mar 31, 2026	€25.50
Apr 30, 2026	€27.23
May 29, 2026	€26.09
Jun 30, 2026	€24.21
Jul 31, 2026	€24.94
Aug 31, 2026	€23.93
Sep 30, 2026	€24.35
Oct 30, 2026	€26.85
Nov 11, 2026	€27.44

Tenaris peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
TEN.MI	Tenaris	27,705	16.6x	27.44	+1.18%	16.1027.82
SPM.MI	Saipem	8,450	33.5x	4.36	+1.68%	2.244.85
SLB	Schlumberger	73,654	24.2x	49.90 $	−0.95%	34.6560.46
BKR	Baker Hughes	47,439	16.4x	47.77 $	−0.93%	44.2670.41
HAL	Halliburton	26,352	13.4x	31.86 $	−0.06%	24.9243.59
TTE.PA	TotalEnergies	174,329	9.2x	79.49	+1.65%	53.2985.94

Stocks quoted in another currency are shown in their trading currency.

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