Start with its own history
At 14.95×, TS is 71.3% below its 9-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · TSOil & Gas Equipment & ServicesUpdated Nov 5, 2026
Tenaris S.A. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
14.95×
71.3% belowthe 9-observation annual average
Share price55.92
÷Earnings per share3.74
Price and EPS in quote currency. Calculation details
Investors are paying 14.95 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 52.12×
3-year average8.59×3 positive annual observations
5-year average9.02×5 positive annual observations
10-year average52.12×9 positive annual observations
Peer median · TTM27.70×7 peers with positive P/E
Historical P/E ratios
Annual period-end data · 24 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 10.21× | -1.3% |
| Dec 31, 2024 | 10.34× | +97.4% |
| Dec 31, 2023 | 5.24× | -35.1% |
| Dec 31, 2022 | 8.07× | -28.4% |
| Dec 31, 2021 | 11.27× | N/M |
| Dec 31, 2020 | N/M | N/M |
| Dec 31, 2019 | 17.90× | +21.6% |
| Dec 31, 2018 | 14.72× | -57.1% |
View all 24 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 34.36× | -90.4% |
| Dec 31, 2016 | 356.96× | N/M |
| Dec 31, 2015 | N/M | N/M |
| Dec 31, 2014 | 15.38× | -7.9% |
| Dec 31, 2013 | 16.70× | +12.7% |
| Dec 31, 2012 | 14.81× | -9.5% |
| Dec 31, 2011 | 16.38× | -36.7% |
| Dec 31, 2010 | 25.87× | +17.8% |
| Dec 31, 2009 | 21.97× | +290.2% |
| Dec 31, 2008 | 5.63× | -58.1% |
| Dec 31, 2007 | 13.45× | -10.9% |
| Dec 31, 2006 | 15.10× | +43.6% |
| Dec 31, 2005 | 10.51× | +42.8% |
| Dec 31, 2004 | 7.36× | -60.0% |
| Dec 31, 2003 | 18.40× | +25.9% |
| Dec 31, 2002 | 14.62× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How TS compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 TS This stockTenaris S.A. | 14.95× |
 NOVNOV Inc. | 45.07× |
 WFRDWeatherford International plc | 15.28× |
 OISOil States International, Inc. | N/M |
 INVXInnovex International, Inc. | 36.56× |
 FETForum Energy Technologies, Inc. | 27.70× |
 WHDCactus, Inc. | 39.50× |
 NESRNational Energy Services Reunited Corp. | 22.93× |
 BKRBaker Hughes Company | 17.02× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does TS’s P/E tell you?
Compare like with like
The median of the 7 positive peer ratios above is 27.70×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take TS into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("TS", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 55.92 ÷ EPS 3.74 = 14.95×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
TS P/E ratio: common questions
The essentials behind the numbers.
Tenaris S.A.'s current P/E is 14.95× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.