Tenaris SA balance sheet TS

Annual Quarterly

As of Dec 31, 2025, Tenaris SA had total assets of $20.1 billion and total liabilities of $3.2 billion. Total assets were down 1.8% from a year earlier. Stockholders' equity was $16.8 billion. It held $572.6 million in cash and investments against $449.0 million of total debt, net cash of $123.7 million. The current ratio, current assets divided by current liabilities, was 3.87.

USD in millions, except ratios and per-share amounts. 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
Assets
Cash
573
-15.2%
675
-58.8%
1,638
+50.0%
1,092
+243.1%
318
585
+36.5%
1,554
+262.8%
428
+29.7%
330
Cash and investments
573
-15.2%
675
-58.8%
1,638
+50.0%
1,092
+243.1%
318
585
+36.5%
1,554
+262.8%
428
+29.7%
330
Inventory
3,602
-2.9%
3,710
-5.4%
3,921
-1.7%
3,987
+49.2%
2,673
1,637
-35.2%
2,266
-10.2%
2,524
+6.6%
2,368
Total current assets
9,073
-1.8%
9,236
-12.1%
10,504
+24.0%
8,469
+70.0%
4,981
4,288
-21.5%
5,671
+3.8%
5,464
+1.5%
5,381
Property and equipment, net
6,205
+1.4%
6,121
+0.7%
6,078
+9.4%
5,556
-4.6%
5,825
6,193
+2.1%
6,090
+0.4%
6,064
-2.7%
6,229
Goodwill
—
—
1,104
+1.8%
1,085
+0.0%
1,085
1,086
-15.7%
1,320
+2.5%
1,288
-0.3%
1,292
Total assets
20,072
-1.8%
20,450
-3.0%
21,082
+20.1%
17,550
+21.5%
14,449
13,716
-3.8%
14,843
+4.2%
14,251
-1.0%
14,398
Liabilities and equity
Accounts payable
873
-0.8%
880
-20.5%
1,108
-6.1%
1,179
+39.5%
845
462
-33.4%
556
-19.9%
694
-7.6%
751
Total current liabilities
2,346
-11.0%
2,637
-9.1%
2,902
+4.1%
2,788
+78.8%
1,560
1,166
-32.1%
1,780
+3.6%
1,718
-17.0%
2,071
Total liabilities
3,243
-10.8%
3,636
-10.2%
4,051
+15.2%
3,516
+50.0%
2,344
2,270
-4.5%
2,657
+11.8%
2,376
-15.7%
2,817
Stockholders' equity
16,829
+0.1%
16,814
-1.3%
17,030
+21.3%
14,034
+15.9%
12,106
11,446
-3.6%
12,186
+2.6%
11,875
+2.5%
11,589
Debt
Debt due within a year
305
-28.3%
426
-20.4%
535
-21.6%
682
+210.9%
220
303
-40.5%
781
+53.2%
510
-45.3%
931
Long-term debt
0
-96.8%
11
-76.4%
48
+4.0%
46
-58.3%
111
316
+981.8%
41
+40.1%
29
-15.8%
35
Lease liabilities
143
-1.2%
145
+7.8%
134
+19.8%
112
-4.4%
117
257
230
—
—
Total debt
449
-22.9%
582
-18.9%
718
-14.6%
841
+87.6%
448
876
+62.6%
1,052
+95.2%
539
-44.2%
966
Net cash
124
+33.1%
93
-89.9%
920
+267.1%
251
+292.6%
-130
-292
-163.6%
502
+553.7%
-111
+82.6%
-636
Ratios
Current ratio
3.87x
3.50x
3.62x
3.04x
3.19x
3.68x
3.18x
3.18x
2.60x
Debt to equity
0.03x
0.03x
0.04x
0.06x
0.04x
0.08x
0.09x
0.05x
0.08x
Debt to EBITDA
—
—
0.15x
0.24x
0.34x
55.69x
66.88x
—
—
Return on equity
11.73%
12.35%
23.24%
18.16%
8.70%
-5.61%
-5.27%
7.36%
4.63%
Return on assets
9.83%
10.16%
18.77%
14.52%
7.29%
-4.68%
-4.33%
6.13%
3.73%
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 ratios and per-share amounts. Cash and investments adds short-term and long-term marketable securities to cash. Debt due within a year is the borrowings that are not already in long-term debt. Total debt is those borrowings plus lease liabilities. Net cash is cash and investments minus total debt. Return on equity and return on assets divide the trailing twelve months of net income by the balance on that date. Debt to EBITDA uses the trailing twelve months of EBITDA. More on our methodology.

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.