TS
Tenaris SA ADR
NYSE: TS · ENERGY · OIL & GAS EQUIPMENT & SERVICES
$59.81
-3.88% today
Updated 2026-06-05
Market cap
$30.95B
P/E ratio
16.13
P/S ratio
2.55x
EPS (TTM)
$3.80
Dividend yield
2.90%
52W range
$33 – $65
Volume
1.9M
Tenaris SA ADR (TS) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed TS price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$59.81
Today
Analyst consensus
$63.22
+5.70% · 12M
2030 Base
$45.56
-23.83% future
NPV today
$33.07
@ 7% WACC
12 analysts:
6 Buy3 Hold1 Sell
Management guidance
No specific revenue targets or forward guidance provided by management in available disclosures. CEO Gabriel Podskubka transitioned to role May 6, 2026, with Paolo Rocca remaining as chairman. Company maintains strategic focus on energy sector cyclicality and production capacity expansion (€86M Artrom acquisition in Romania, expected Q4 2026 close). Management emphasized optimism on oil/LNG prices due to Middle East geopolitical dynamics and expects sales/margin recovery in H2 2026 assuming Strait of Hormuz reopens.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
TS · Tenaris SA ADR · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$45.56
NPV today: $33.07
Base case (2030)
$45.56
NPV today: $33.07
Bull case (2030)
$116.01
NPV today: $84.20
WallStSmart.com
TS financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $12.0B | $12.7B | $13.9B | $15.5B | $16.9B | $18.3B |
| Revenue growth | -4.3% | 5.4% | 9.8% | 11.5% | 9.3% | 8.4% |
| Net margin | — | 8.6% | 9.3% | 9.8% | 10.0% | 10.2% |
| EPS | — | $2.15 | $2.52 | $2.95 | $3.28 | $3.61 |
| Diluted shares | — | 508M | 512M | 515M | 518M | 521M |
| Net debt | — | $-562.20M | $-1.60B | $-2.75B | $-4.01B | $-5.38B |
| P/S multiple | — | 1.0x | 1.0x | 1.0x | 1.0x | 1.0x |
| Implied price (base) | — | $25.99 | $30.26 | $35.40 | $40.41 | $45.56 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $18.3B | $18.3B | $18.3B |
| P/S multiple | 1.0x | 1.0x | 3.0x |
| Diluted shares | 521M | 521M | 521M |
| Net debt | $-5.38B | $-5.38B | $-5.38B |
| Implied P/E † | 13x | 13x | 32x |
| 2030 Price | $45.56 | $45.56 | $116.01 |
| NPV @ 7% | $33.07 | $33.07 | $84.20 |
† Implied P/E: Multiples remain elevated across all three scenarios because TS is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $45.56 base case
TS catalysts and risks
Growth catalysts
+ Artrom Steel Tubes acquisition completion (Q4 2026) adds European capacity and industrial pipe product range, supporting margin expansion
+ Geopolitical tensions in Middle East elevating oil/LNG prices; recovery in Strait of Hormuz logistics could accelerate H2 2026-2027 demand
+ Strong free cash flow generation ($503M in Q1 2026) funding $1.2B share buyback program and €86M acquisition, signaling management confidence in earnings power
+ Energy sector capital spending recovery: global upstream capex inflection as majors increase drilling/production on elevated oil/gas prices
+ Leadership transition to Gabriel Podskubka (COO background) provides continuity while potentially unlocking operational efficiency upside
Key risks
- Cyclical energy exposure: oil price normalization below $70/bbl would compress demand and tubular product utilization
- Geopolitical disruption escalation in Middle East could further disrupt logistics, offset by higher commodity prices
- FX volatility and tariff headwinds mentioned in Q1 2026 earnings; Argentine peso weakness and US trade policy uncertainty
- Large-scale capex integration risk from Artrom acquisition and prior Beaver Falls metal scrap yard deals
- Competitive intensity from SLB, Baker Hughes, Halliburton; margin compression if market share shifts to larger integrated players
Methodology · Tenaris SA ADR 2030 stock forecast model
Tenaris SA ADR 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 12 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (3% cumulative for TS by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-5.38B by 2030) |
| 3. Time value | NPV calculated using 7% WACC (CAPM: beta 0.487) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 1.0x / bull 3.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
TS price target FAQ
What is the TS price target for 2030?
WallStSmart's Tenaris SA ADR 2030 base case is $45.56 per share, with a bull case of $116.01 and bear case of $45.56. The NPV of the base case discounted to today at 7% WACC is $33.07.
How is the Tenaris SA ADR 2030 stock forecast calculated?
The TS 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the TS price target account for dilution?
Tenaris SA ADR is projected to grow diluted share count from 505M to 521M by 2030 (a 3% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 3%.
What is the analyst consensus on TS stock?
12 analysts cover TS with an average 12-month price target of $63.22. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.