TS Valuation

Tenaris SA

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36.190

-0.19(-0.522%)1D

Overview
Forecast
Valuation
Earnings

TS Relative Valuation

TS's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, TS is overvalued; if below, it's undervalued.

Historical Valuation

Tenaris SA (TS) is now in the Fair zone, suggesting that its current forward PS ratio of 1.58 is considered Fairly compared with the five-year average of 16.15. The fair price of Tenaris SA (TS) is between 27.77 to 37.89 according to relative valuation methord.

Relative Value

Fair Zone

27.77-37.89

Current Price：36.19

Fair

11.42

Trailing

Forward

6.04

EV/EBITDA

Tenaris SA. (TS) has a current EV/EBITDA of 6.04. The 5-year average EV/EBITDA is 6.29. The thresholds are as follows: Strongly Undervalued below 1.54, Undervalued between 1.54 and 3.92, Fairly Valued between 8.67 and 3.92, Overvalued between 8.67 and 11.05, and Strongly Overvalued above 11.05. The current Forward EV/EBITDA of 6.04 falls within the Historic Trend Line -Fairly Valued range.

7.81

EV/EBIT

Tenaris SA. (TS) has a current EV/EBIT of 7.81. The 5-year average EV/EBIT is 21.19. The thresholds are as follows: Strongly Undervalued below -97.30, Undervalued between -97.30 and -38.05, Fairly Valued between 80.44 and -38.05, Overvalued between 80.44 and 139.68, and Strongly Overvalued above 139.68. The current Forward EV/EBIT of 7.81 falls within the Historic Trend Line -Fairly Valued range.

1.58

Tenaris SA. (TS) has a current PS of 1.58. The 5-year average PS is 1.56. The thresholds are as follows: Strongly Undervalued below 1.00, Undervalued between 1.00 and 1.28, Fairly Valued between 1.83 and 1.28, Overvalued between 1.83 and 2.11, and Strongly Overvalued above 2.11. The current Forward PS of 1.58 falls within the Historic Trend Line -Fairly Valued range.

7.86

P/OCF

Tenaris SA. (TS) has a current P/OCF of 7.86. The 5-year average P/OCF is 9.51. The thresholds are as follows: Strongly Undervalued below -0.51, Undervalued between -0.51 and 4.50, Fairly Valued between 14.52 and 4.50, Overvalued between 14.52 and 19.52, and Strongly Overvalued above 19.52. The current Forward P/OCF of 7.86 falls within the Historic Trend Line -Fairly Valued range.

11.12

P/FCF

Tenaris SA. (TS) has a current P/FCF of 11.12. The 5-year average P/FCF is 21.22. The thresholds are as follows: Strongly Undervalued below -53.68, Undervalued between -53.68 and -16.23, Fairly Valued between 58.66 and -16.23, Overvalued between 58.66 and 96.11, and Strongly Overvalued above 96.11. The current Forward P/FCF of 11.12 falls within the Historic Trend Line -Fairly Valued range.

Tenaris SA (TS) has a current Price-to-Book (P/B) ratio of 2.31. Compared to its 3-year average P/B ratio of 1.43 , the current P/B ratio is approximately 61.06% higher. Relative to its 5-year average P/B ratio of 1.30, the current P/B ratio is about 78.07% higher. Tenaris SA (TS) has a Forward Free Cash Flow (FCF) yield of approximately 10.16%. Compared to its 3-year average FCF yield of 12.66%, the current FCF yield is approximately -19.78% lower. Relative to its 5-year average FCF yield of 9.96% , the current FCF yield is about 2.02% lower.

2.31

P/B

Median3y

1.43

Median5y

1.30

10.16

FCF Yield

Median3y

12.66

Median5y

9.96

Competitors Valuation Multiple

The average P/S ratio for TS's competitors is 0.78, providing a benchmark for relative valuation. Tenaris SA Corp (TS) exhibits a P/S ratio of 1.58, which is 103.88% above the industry average. Given its robust revenue growth of -7.10%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

Companhia Siderurgica Nacional SA

Performance Decomposition

Market capitalization of TS increased by 15.50% over the past 1 year. The primary factor behind the change was an increase in Margin Expansion from 10.48 to 17.56.

The secondary factor is the Revenue Growth, contributed -7.10%to the performance.

Overall, the performance of TS in the past 1 year is driven by Margin Expansion. Which is more sustainable.

-7.10%

3.32B → 3.09B

Revenue Growth

67.56%

10.48 → 17.56

Margin Expansion

-44.96%

35.78 → 19.69

P/E Change

15.50%