Tenaris
€24.74Change from previous close: +1.14%Absolute change: +€0.28
At a glance
- Revenue growth
- −4.33%
- 2025 vs 2024
- Net income growth
- −5.09%
- 2025 vs 2024
- Net margin
- 16.1%
- 2024: 16.3%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 518 | 618 | 787 | 318 | 673 | 821 | 492 | 552 | 935 | 887 | 836 | 1,297 |
| Depreciation and amortization | 155 | 151 | 133 | 157 | 150 | 146 | 145 | 151 | 139 | 175 | 135 | 136 |
| Capital expenditure | -110 | -106 | -72.8 | -211 | -125 | -160 | -161 | -169 | -155 | -161 | -150 | -159 |
| Investing cash flow | -451 | 33.8 | 124 | 34.2 | 36.4 | -387 | 311 | -409 | -373 | -925 | 440 | -1,105 |
| Financing cash flow | -655 | -78.5 | -881 | -367 | -897 | -333 | -809 | -318 | -1,021 | -251 | -506 | -67.4 |
| Dividends paid | -606 | — | -300 | 0.0 | -600 | — | -299 | — | -459 | — | -235 | — |
| Share repurchases | 0.0 | -89.6 | -537 | -351 | -237 | -237 | -454 | -182 | -492 | -311 | -214 | — |
| Debt issued | 108 | 248 | 83.0 | 96.0 | 129 | 348 | 344 | 331 | 365 | 830 | 365 | 326 |
| Debt repaid | -155 | -237 | -126 | -109 | -161 | -444 | -400 | -462 | -435 | -771 | -422 | -394 |
| Effect of exchange rates | -7.0 | 6.6 | -5.0 | -9.8 | -0.3 | -2.4 | -13.9 | 8.7 | -15.2 | -4.9 | -17.3 | -15.5 |
| Net change in cash | -595 | 580 | 25.5 | -24.5 | -187 | 98.2 | -20.5 | -167 | -474 | -294 | 753 | 109 |
| Free cash flow | 408 | 512 | 714 | 108 | 548 | 661 | 331 | 383 | 780 | 726 | 685 | 1,138 |
| Levered free cash flow | 210 | 353 | 612 | -315 | 641 | 263 | 489 | 33.7 | 794 | 584 | 539 | 896 |