Tenaris SA income statement TNRSF

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Tenaris SA reported revenue of $12.0 billion, down 4.3% from the year before. Net income was $2.0 billion, a profit margin of 16.5%. Operating income came to $2.3 billion, an operating margin of 19.1%. Across the 9 fiscal years shown, revenue grew from $5.3 billion in fiscal 2017 to $12.0 billion in fiscal 2025, about 10.8% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
FY 2023
Dec 31, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 31, 2021
FY 2019
Dec 31, 2020
FY 2019
Dec 31, 2019
FY 2018
Dec 31, 2018
FY 2017
Dec 31, 2017
Revenue
11,981
-4.3%
12,524
-15.8%
14,869
+26.4%
11,763
+80.4%
6,521
5,147
-32.8%
7,294
-4.8%
7,659
+44.8%
5,289
Cost of revenue
7,861
-3.4%
8,135
-6.2%
8,669
+22.3%
7,088
+53.7%
4,612
4,087
-22.6%
5,107
-3.3%
5,279
+43.3%
3,685
Gross profit
4,120
-6.1%
4,388
-29.2%
6,200
+32.6%
4,675
+144.8%
1,910
1,059
-55.5%
2,187
-8.1%
2,379
+48.4%
1,603
Research and development
64
-13.5%
74
+23.7%
60
+18.3%
51
+11.9%
45
42
-34.1%
61
-3.6%
63
-0.5%
64
Selling, general and administrative
1,828
-4.0%
1,905
-0.8%
1,919
+17.4%
1,635
+35.5%
1,207
1,119
-25.9%
1,366
-9.5%
1,510
+18.9%
1,270
Operating income
2,283
-5.6%
2,419
-44.0%
4,316
+45.7%
2,963
+318.8%
708
-663
-176.1%
832
-4.5%
872
+160.6%
335
Pretax income
2,474
-3.2%
2,556
-44.8%
4,633
+46.3%
3,166
+154.7%
1,243
-619
-156.1%
934
-15.4%
1,103
+157.9%
428
Income tax
501
+4.4%
480
-28.9%
675
+9.4%
617
+225.8%
189
23
-89.9%
202
-11.7%
229
+1437.6%
-17
Net income
1,973
-5.0%
2,077
-47.5%
3,958
+55.3%
2,549
+142.0%
1,053
-642
-173.5%
731
-16.3%
874
+62.9%
536
Weighted average shares, basic
1,056
-6.3%
1,127
-4.4%
1,179
-0.1%
1,181
+0.0%
1,181
1,181
+99900.0%
1
+0.0%
1
-99.9%
1,181
Other measures
Depreciation and amortization
—
—
549
-9.7%
608
+2.2%
595
540
540
—
—
EBITDA
—
—
4,865
+36.2%
3,571
+174.2%
1,302
-124
1,372
—
—
Interest coverage
48.65x
39.52x
40.39x
64.50x
29.88x
-15.28x
19.19x
23.60x
12.36x
Margins
Gross margin
34.39%
35.04%
41.70%
39.74%
29.28%
20.58%
29.98%
31.07%
30.32%
Operating margin
19.06%
19.31%
29.03%
25.19%
10.85%
-12.88%
11.41%
11.38%
6.33%
Pretax margin
20.65%
20.41%
31.16%
26.92%
19.06%
-12.03%
12.80%
14.40%
8.09%
Profit margin
16.47%
16.58%
26.62%
21.67%
16.15%
-12.48%
10.03%
11.41%
10.14%
EBITDA margin
—
—
32.72%
30.36%
19.97%
-2.40%
18.81%
—
—
Effective tax rate
20.24%
18.76%
14.57%
19.50%
15.24%
—
21.68%
20.78%
-4.01%
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.

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Company profile

Industry
Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) (SIC 3312)
Listed as
TS (NYSE), TNRSF (OTC)
Headquarters
Luxembourg, Luxembourg
SEC filer status
Large accelerated filer
SEC CIK
1190723

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.