Tenaris S.A. (T1SS34) - Net Assets
Based on the latest financial reports, Tenaris S.A. (T1SS34) has net assets worth R$17.04 Billion BRL as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (R$20.47 Billion) and total liabilities (R$3.42 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | R$17.04 Billion |
| % of Total Assets | 83.27% |
| Annual Growth Rate | 9.23% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 11.3 |
Tenaris S.A. - Net Assets Trend (2022–2024)
This chart illustrates how Tenaris S.A.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tenaris S.A. (2022–2024)
The table below shows the annual net assets of Tenaris S.A. from 2022 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | R$16.59 Billion | -1.48% |
| 2023-12-31 | R$16.84 Billion | +21.12% |
| 2022-12-31 | R$13.91 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tenaris S.A.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 30.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | R$17.29 Billion | 104.18% |
| Common Stock | R$1.16 Billion | 7.01% |
| Total Equity | R$16.59 Billion | 100.00% |
Tenaris S.A. Competitors by Market Cap
The table below lists competitors of Tenaris S.A. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Expedia Group Inc.
NASDAQ:EXPE
|
$29.30 Billion |
|
Bharat Electronics Limited
NSE:BEL_old
|
$29.41 Billion |
|
Sandoz Group AG
SW:SDZ
|
$29.43 Billion |
|
China Merchants Bank Co. Ltd
F:M4B
|
$29.46 Billion |
|
China Construction Bank Co
SHG:601939
|
$29.29 Billion |
|
Bank of Jiangsu Co Ltd
SHG:600919
|
$29.27 Billion |
|
Advanced Micro Fabrication Inc
SHG:688012
|
$29.18 Billion |
|
Fresenius SE & Co. KGaA
XETRA:FRE
|
$29.10 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tenaris S.A.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 16,842,972,000 to 16,593,257,000, a change of -249,715,000 (-1.5%).
- Net income of 2,036,445,000 contributed positively to equity growth.
- Dividend payments of 757,786,000 reduced retained earnings.
- Share repurchases of 1,439,589,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | R$2.04 Billion | +12.27% |
| Dividends Paid | R$757.79 Million | -4.57% |
| Share Repurchases | R$1.44 Billion | -8.68% |
| Other Changes | R$-88.78 Million | -0.54% |
| Total Change | R$- | -1.48% |
Book Value vs Market Value Analysis
This analysis compares Tenaris S.A.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 9.66x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 12.56x to 9.66x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2022-12-31 | R$11.78 | R$147.90 | x |
| 2023-12-31 | R$14.42 | R$147.90 | x |
| 2024-12-31 | R$15.30 | R$147.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tenaris S.A. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.27%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.26%
- • Asset Turnover: 0.61x
- • Equity Multiplier: 1.23x
- Recent ROE (12.27%) is below the historical average (17.97%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2022 | 18.36% | 21.71% | 0.67x | 1.26x | R$1.16 Billion |
| 2023 | 23.26% | 26.35% | 0.71x | 1.25x | R$2.23 Billion |
| 2024 | 12.27% | 16.26% | 0.61x | 1.23x | R$377.12 Million |
Industry Comparison
This section compares Tenaris S.A.'s net assets metrics with peer companies in the Oil & Gas Equipment & Services industry.
Industry Context
- Industry: Oil & Gas Equipment & Services
- Average net assets among peers: $3,846,721,667
- Average return on equity (ROE) among peers: -2.20%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tenaris S.A. (T1SS34) | R$17.04 Billion | 18.36% | 0.20x | $29.30 Billion |
| Lupatech S.A (LUPA3) | $99.56 Million | -26.29% | 4.07x | $7.60 Million |
| OSX Brasil S.A (OSXB3) | $-9.92 Billion | 0.00% | 0.00x | $1.01 Million |
| Schlumberger Limited (SLBG34) | $21.36 Billion | 19.68% | 1.25x | $76.08 Billion |
About Tenaris S.A.
Tenaris S.A., together with its subsidiaries, manufactures and supplies steel pipe products and related services for the energy industry and other industrial applications in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The company provides steel casings to sustain the walls of oil and gas wells during and after drilling; steel tubing for conducting crude… Read more