Tenaris (TS) Gross Margin (2009 - 2026)
Tenaris (TS) posted quarterly Gross Margin of 33.87% for Q1 2026, down 40.0% year-over-year from 56.45% in Q1 2025, and little changed quarter-over-quarter from 33.89% in Q4 2025.
Tenaris (TS) Gross Margin (2009 - 2026) Analysis & Trends
Tenaris (TS) has reported Gross Margin for 18 consecutive years, with 33.87% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin fell 40.0% year-over-year to 33.87%; the TTM figure through Mar 2026 stood at 34.29% (up 1605.0% YoY), while the FY2025 annual figure was 34.39%, down 65.0% from the prior year.
- Gross Margin held at 33.87% in Q1 2026 per TS's latest filing, from 33.89% in the prior quarter.
- Across five years, Gross Margin topped out at 38033.99% in Q2 2022 and bottomed at 0.0% in Q2 2024.
- Historically, Gross Margin has averaged 2265.14% across 5 years, with a median of 34.65% in 2025.
- Annual changes were most pronounced in 2022 — Gross Margin soared 3800686 bps — and 2023, when it tumbled 3803395 bps.
- Tenaris' Gross Margin stood at 19.11% in 2022, then soared by 98 bps to 37.9% in 2023, then slumped by 64 bps to 13.65% in 2024, then surged by 148 bps to 33.89% in 2025, then fell by 0 bps to 33.87% in 2026.
- Business Quant data shows TS's Gross Margin at 33.87% in Q1 2026, 33.89% in Q4 2025, and 34.65% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Slb | 79.95 Bn | 75.87 Bn | 4.63 Bn | 51.63% |
| 2 | Baker Hughes | 62.26 Bn | 46.53 Bn | 1.58 Bn | 23.46% |
| 3 | Tenaris | 53.14 Bn | 44.12 Bn | 984.66 | - |
| 4 | TechnipFMC | 30.70 Bn | 29.46 Bn | 1.40 Bn | 50.62% |
| 5 | Halliburton | 29.75 Bn | 27.71 Bn | 2.10 Bn | 36.80% |
| 6 | Nov | 7.28 Bn | 6.12 Bn | 521.00 Mn | 24.41% |
| 7 | Weatherford International | 6.57 Bn | 5.43 Bn | 662.00 Mn | 59.91% |
| 8 | Kodiak Gas Services | 5.74 Bn | 5.61 Bn | 246.76 Mn | 63.09% |
| 9 | Archrock | 5.62 Bn | 5.62 Bn | 244.51 Mn | 65.86% |
| 10 | Oceaneering International | 5.22 Bn | 4.59 Bn | 156.98 Mn | 20.44% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 33.87% |
| Dec 31, 2025 | 33.89% |
| Sep 30, 2025 | 34.65% |
| Jun 30, 2025 | 34.74% |
| Mar 31, 2025 | 34.27% |
| Dec 31, 2024 | 13.65% |
| Sep 30, 2024 | 33.61% |
| Jun 30, 2024 | 0.00% |
| Mar 31, 2024 | 37.99% |
| Dec 31, 2023 | 37.90% |
| Sep 30, 2023 | 39.05% |
| Jun 30, 2023 | 0.04% |
| Mar 31, 2023 | 44.27% |
| Dec 31, 2022 | 19.11% |
| Sep 30, 2022 | 40.62% |
| Jun 30, 2022 | 38,033.99% |
| Mar 31, 2022 | 35.70% |
| Dec 31, 2021 | 24.24% |
| Sep 30, 2021 | 30.75% |
| Jun 30, 2021 | 27.13% |