Tenaris SA revenue by segment TS

Annual Quarterly

Tenaris SA splits its revenue 2 ways in its filings. By operating segments, the largest line in fiscal 2025, which ended Dec 31, 2025 was Tubes at $11.4 billion, 95% of the total. By sales mix, the largest line in fiscal 2025, which ended Dec 31, 2025 was Oil And Natural Gas at $10.2 billion, 85% of the total.

USD in millions. The percent under a figure is the change from the year before.

Line	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	12,524	14,869	11,763	6,521	5,147	7,294	7,659	5,289
Operating segments
Tubes	11,400 -4.3% share 95.1%	11,907 -16.1% share 95.1%	14,185 +27.4% share 95.4%	11,133 +85.7% share 94.6%	5,994 share 91.9%	4,844 share 94.1%	6,870 share 94.2%	—	—
All Other Segments	581 -5.8% share 4.8%	617 -9.8% share 4.9%	684 +8.6% share 4.6%	630 +19.3% share 5.4%	528 share 8.1%	303 share 5.9%	424 share 5.8%	—	—
Sales mix
Oil And Natural Gas	10,172 -4.8% share 84.9%	10,689 -14.4% share 85.3%	12,488 +30.9% share 84.0%	9,543 +95.0% share 81.1%	4,895 share 75.1%	4,073 share 79.1%	5,757 share 78.9%	—	—
Industrial And Other	671 +0.1% share 5.6%	670 -23.8% share 5.3%	879 +3.2% share 5.9%	852 +33.1% share 7.2%	640 share 9.8%	400 share 7.8%	579 share 7.9%	—	—
Oil And Gas Processing Plants	557 +1.6% share 4.6%	548 -33.0% share 4.4%	818 +10.8% share 5.5%	738 +60.8% share 6.3%	459 share 7.0%	—	—	—	—

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. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. 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.