Tenaris Ratios and Metrics

Market cap in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jan '26 Jan 7, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	141,530	108,034	125,516	98,625	108,619	68,895
Market Cap Growth	18.83%	-13.93%	27.27%	-9.20%	57.66%	38.69%
Enterprise Value	130,167	95,391	110,345	86,219	106,847	68,572
Last Close Price	107.25	105.44	110.71	78.46	81.38	-
PE Ratio	13.29	10.15	9.97	5.19	8.05	11.24
PS Ratio	2.14	1.64	1.62	1.37	1.75	1.90
PB Ratio	1.53	1.17	1.21	1.19	1.46	1.02
P/TBV Ratio	1.69	1.29	1.33	1.31	1.63	1.17
P/FCF Ratio	12.65	9.66	9.14	5.32	26.69	-
P/OCF Ratio	9.88	7.55	7.08	4.63	17.60	103.84
EV/Sales Ratio	2.10	1.45	1.43	1.20	1.72	1.89
EV/EBITDA Ratio	8.57	6.14	5.87	3.74	5.73	9.73
EV/EBIT Ratio	10.70	7.54	7.14	4.15	6.81	17.04
EV/FCF Ratio	11.63	8.53	8.04	4.65	26.25	-
Debt / Equity Ratio	0.03	0.03	0.04	0.04	0.06	0.04
Debt / EBITDA Ratio	0.16	0.16	0.19	0.15	0.24	0.34
Debt / FCF Ratio	0.22	0.22	0.26	0.19	1.09	-
Net Debt / Equity Ratio	-0.14	-0.14	-0.15	-0.17	-0.05	-0.02
Net Debt / EBITDA Ratio	-0.86	-0.86	-0.81	-0.61	-0.19	-0.21
Net Debt / FCF Ratio	-1.20	-1.20	-1.11	-0.76	-0.89	2.13
Asset Turnover	0.59	0.59	0.60	0.77	0.74	0.46
Inventory Turnover	2.04	2.04	2.10	2.12	2.07	2.12
Quick Ratio	2.25	2.25	2.03	2.21	1.55	1.42
Current Ratio	3.87	3.87	3.50	3.62	3.04	3.19
Return on Equity (ROE)	11.73%	11.73%	12.27%	25.48%	19.50%	8.95%
Return on Assets (ROA)	7.09%	7.09%	7.53%	13.85%	11.60%	3.21%
Return on Invested Capital (ROIC)	12.58%	12.75%	14.26%	26.61%	18.98%	5.39%
Return on Capital Employed (ROCE)	13.00%	13.00%	14.00%	23.50%	20.10%	5.60%
Earnings Yield	7.52%	9.85%	10.04%	19.28%	12.43%	8.90%
FCF Yield	7.90%	10.36%	10.94%	18.81%	3.75%	-1.01%
Dividend Yield	4.24%	4.65%	4.64%	3.71%	3.31%	-
Payout Ratio	46.58%	46.58%	37.21%	16.25%	20.81%	28.97%
Buyback Yield / Dilution	6.35%	6.35%	4.36%	0.14%	-	-
Total Shareholder Return	10.58%	11.00%	9.00%	3.85%	3.31%	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.