Tenaris Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Revenue	11,981	12,524	14,869	11,763	6,521
Revenue Growth (YoY)	-4.33%	-15.77%	26.41%	80.37%	26.71%
Cost of Revenue	7,861	8,011	8,397	6,893	4,571
Gross Profit	4,120	4,513	6,472	4,870	1,950
Selling, General & Admin	1,828	1,751	1,748	1,513	1,128
Other Operating Expenses	8.7	261.25	444.22	387.61	100.51
Operating Expenses	1,837	2,012	2,192	1,901	1,228
Operating Income	2,283	2,501	4,280	2,969	722.22
Interest Expense	-46.93	-61.21	-201.56	-75.74	-23.68
Interest & Investment Income	-	229.84	201.85	86.11	21.05
Earnings From Equity Investments	58.04	8.55	95.4	208.7	512.59
Currency Exchange Gain (Loss)	-	48.67	210.29	61.24	9.32
Other Non Operating Income (Expenses)	179.57	-16.72	-0.34	-0.31	-1.03
EBT Excluding Unusual Items	2,474	2,710	4,586	3,249	1,240
Merger & Restructuring Charges	-	-1.3	-1.1	-	-
Gain (Loss) on Sale of Investments	-	12.48	11.62	-6.09	-
Gain (Loss) on Sale of Assets	-	-	-	-	6.8
Asset Writedown	-	-	-	-76.73	-57.08
Legal Settlements	-	-89.62	-	-	52.57
Other Unusual Items	-	-81.79	36.5	-	-
Pretax Income	2,474	2,556	4,633	3,166	1,243
Income Tax Expense	500.62	479.68	674.96	617.24	189.45
Earnings From Continuing Operations	1,973	2,077	3,958	2,549	1,053
Net Income to Company	1,973	2,077	3,958	2,549	1,053
Minority Interest in Earnings	-40.47	-40.33	-39.77	4.58	46.87
Net Income	1,933	2,036	3,918	2,553	1,100
Net Income to Common	1,933	2,036	3,918	2,553	1,100
Net Income Growth	-5.09%	-48.02%	53.45%	132.08%	-
Shares Outstanding (Basic)	1,056	1,127	1,179	1,181	1,181
Shares Outstanding (Diluted)	1,056	1,127	1,179	1,181	1,181
Shares Change (YoY)	-6.33%	-4.36%	-0.14%	-	-
EPS (Basic)	1.83	1.81	3.32	2.16	0.93
EPS (Diluted)	1.83	1.81	3.32	2.16	0.93
EPS Growth	1.32%	-45.66%	53.67%	132.08%	-
Free Cash Flow	1,982	2,220	3,824	769.87	-125.52
Free Cash Flow Per Share	1.88	1.97	3.24	0.65	-0.11
Dividend Per Share	-	0.830	0.600	0.510	0.410
Dividend Growth	-	38.33%	17.65%	24.39%	95.24%
Gross Margin	34.39%	36.04%	43.53%	41.40%	29.91%
Operating Margin	19.06%	19.97%	28.79%	25.24%	11.07%
Profit Margin	16.13%	16.26%	26.35%	21.71%	16.87%
Free Cash Flow Margin	16.55%	17.73%	25.72%	6.54%	-1.93%
EBITDA	2,899	3,041	4,757	3,527	1,266
EBITDA Margin	24.20%	24.28%	31.99%	29.99%	19.41%
D&A For EBITDA	616.17	540.29	476.95	558.5	543.29
EBIT	2,283	2,501	4,280	2,969	722.22
EBIT Margin	19.06%	19.97%	28.79%	25.24%	11.07%
Effective Tax Rate	20.24%	18.76%	14.57%	19.50%	15.24%

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