Tenaris (TS) Change in Inventory (2021 - 2025)
Tenaris (TS) posted quarterly Change in Inventory of $3.6 billion for Q4 2025, down 2.91% year-over-year from $3.7 billion in Q4 2024, and up 3.31% quarter-over-quarter from $3.5 billion in Q2 2025.
Tenaris (TS) Change in Inventory (2021 - 2025) Analysis & Trends
Tenaris (TS) has reported Change in Inventory for 5 consecutive years, with $3.6 billion the latest figure, recorded in Q4 2025.
- In Q4 2025, Change in Inventory fell 2.91% year-over-year to $3.6 billion; the TTM figure through Dec 2025 stood at $14.6 billion (down 4.67% YoY), while the FY2025 annual figure was $151.7 million, down 17.98% from the prior year.
- Change in Inventory advanced to $3.6 billion in Q4 2025 per TS's latest filing, from $3.5 billion in the prior quarter.
- Across five years, Change in Inventory topped out at $4.0 billion in Q4 2022 and bottomed at $1.9 billion in Q1 2021.
- Historically, Change in Inventory has averaged $3.3 billion across 5 years, with a median of $3.6 billion in 2025.
- Annual changes were most pronounced in 2022 — Change in Inventory jumped 58.73% — and 2025, when it decreased 9.08%.
- Tenaris' Change in Inventory stood at $2.7 billion in 2021, then surged by 49.18% to $4.0 billion in 2022, then decreased by 1.65% to $3.9 billion in 2023, then slipped by 5.39% to $3.7 billion in 2024, then dropped by 2.91% to $3.6 billion in 2025.
- Business Quant data shows TS's Change in Inventory at $3.6 billion in Q4 2025, $3.5 billion in Q2 2025, and $3.7 billion in Q4 2024.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Change in Inventory (Qtr) |
|---|---|---|---|---|---|
| 1 | Slb | 80.45 Bn | 76.38 Bn | 4.63 Bn | 138.00 Mn |
| 2 | Baker Hughes | 63.18 Bn | 47.45 Bn | 1.58 Bn | 131.00 Mn |
| 3 | Tenaris | 53.53 Bn | 44.50 Bn | 984.66 | - |
| 4 | TechnipFMC | 31.06 Bn | 29.82 Bn | 1.40 Bn | 19.30 Mn |
| 5 | Halliburton | 29.80 Bn | 27.75 Bn | 2.10 Bn | 44.00 Mn |
| 6 | Nov | 7.36 Bn | 6.20 Bn | 521.00 Mn | 79.00 Mn |
| 7 | Weatherford International | 6.61 Bn | 5.47 Bn | 662.00 Mn | - |
| 8 | Kodiak Gas Services | 5.86 Bn | 5.72 Bn | 246.76 Mn | -61,000.00 |
| 9 | Archrock | 5.65 Bn | 5.65 Bn | 244.51 Mn | 3.29 Mn |
| 10 | Oceaneering International | 5.28 Bn | 4.65 Bn | 156.98 Mn | -2.18 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 3.60 Bn |
| Dec 31, 2025 | 3.60 Bn |
| Jun 30, 2025 | 3.49 Bn |
| Jun 30, 2025 | 3.49 Bn |
| Dec 31, 2024 | 3.71 Bn |
| Dec 31, 2024 | 3.71 Bn |
| Jun 30, 2024 | 3.83 Bn |
| Jun 30, 2024 | 3.83 Bn |
| Dec 31, 2023 | 3.92 Bn |
| Dec 31, 2023 | 3.92 Bn |
| Sep 30, 2023 | 3.88 Bn |
| Sep 30, 2023 | 3.88 Bn |
| Jun 30, 2023 | 3.88 Bn |
| Jun 30, 2023 | 3.88 Bn |
| Dec 31, 2022 | 3.99 Bn |
| Dec 31, 2022 | 3.99 Bn |
| Sep 30, 2022 | 3.68 Bn |
| Sep 30, 2022 | 3.68 Bn |
| Jun 30, 2022 | 3.37 Bn |
| Jun 30, 2022 | 3.37 Bn |