What is the current annual operating margin of TS?

As of today, TS annual operating margin is 19.13%

What is 1-year change in TS annual operating margin?

TS annual operating margin is down -4.06% year-over-year

What is 3-year change in TS annual operating margin?

TS annual operating margin is down -23.66% over the past 3 years

How far is TS annual operating margin from its all-time high?

TS annual operating margin is currently -46.85% below its historical high of 35.99% set on December 31, 2006

How does TS annual operating margin rank versus sector peers?

TS annual operating margin is higher than 60.33% of companies in Energy sector

When is TS next annual earnings release?

The next annual earnings release for TS is on February 17, 2027

What is the current quarterly operating margin of TS?

As of today, TS quarterly operating margin is 19.44%

What is TS quarterly operating margin most recent change?

TS quarterly operating margin was up +13.29% on September 30, 2026

What is 1-year change in TS quarterly operating margin?

TS quarterly operating margin is down -1.17% year-over-year

How far is TS quarterly operating margin from its all-time high?

TS quarterly operating margin is currently -49.39% below its historical high of 38.41% set on September 30, 2006

How does TS quarterly operating margin rank versus sector peers?

TS quarterly operating margin is higher than 51.93% of companies in Energy sector

When is TS next earnings release?

The next earnings release for TS is on February 17, 2027

Tenaris S.A. (TS) Operating Margin History & Chart

Annual Operating Margin

19.13%0.81%-4.06%

December 31, 2025

Summary

Current Value: As of today, TS annual operating margin is 19.13%, down -4.06% on December 31, 2025
Historical Performance: TS annual operating margin is down -23.66% over the past 3 years, up +1707.56% over the past 5 years
All-Time High Comparison: TS annual operating margin is currently -46.85% below its historical high of 35.99% set on December 31, 2006
3-Year Low Comparison: TS annual operating margin is at its 3-year low
Sector Comparison: TS annual operating margin is higher than 60.33% of companies in Energy sector

Operating Margin Chart

beforeafter

Performance

TS Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Operating Margin	Dec 31, 25	19.13%	-4.1%	-23.7%	+1707.6%	-1.0%
Quarterly Operating Margin	Sep 30, 26	19.44%	-1.2%	-24.4%	+53.2%	+0.3%
Price	Nov 12, 26	$60.94	+48.8%	+75.9%	+157.7%	+68.2%
PE Ratio	Nov 12, 26	15.61	+42.2%	+174.3%	-6.4%	-6.0%
Annual Revenue	Dec 31, 25	$12.02B	-3.9%	+2.2%	+133.5%	+55.6%
Annual Operating Profit	Dec 31, 25	$2.30B	-7.8%	-22.0%	+3864.4%	+54.0%
Annual Gross Margin	Dec 31, 25	34.39%	-1.2%	-12.6%	+81.7%	-7.3%
Annual Net Margin	Dec 31, 25	16.47%	-0.7%	-24.0%	+232.0%	+11.3%

Operating Margin Highs

TS Annual Operating Margin Highs Comparison
Period	High	Date	Current
3Y	28.70%	Dec 31, 23	-33.3%
5Y	28.70%	Dec 31, 23	-33.3%
All	35.99%	Dec 31, 06	-46.9%

Operating Margin Lows

TS Annual Operating Margin Lows Comparison
Period	Low	Date	Current
3Y	19.13%	Dec 31, 25	at low
5Y	-1.19%	N/A	+1707.6%
All	-1.61%	Dec 31, 16	+1288.2%

Operating Margin History

Year	Value	Change
2025	19.13%	-4.1%
2024	19.94%	-30.5%
2023	28.70%	+14.5%
2022	25.06%	+132.3%
2021	10.79%	+1,006.7%
2020	-1.19%	-110.2%
2019	11.66%	+2.8%
2018	11.34%	+80.0%
2017	6.30%	+491.3%
2016	-1.61%	-119.8%
2015	8.14%	-59.5%
2014	20.08%	-2.0%
2013	20.48%	-2.9%
2012	21.09%	+11.6%

Year	Value	Change
2011	18.90%	-2.2%
2010	19.33%	-12.8%
2009	22.16%	-26.1%
2008	29.99%	+2.1%
2007	29.38%	-18.4%
2006	35.99%	+15.5%
2005	31.17%	+89.7%
2004	16.43%	+86.9%
2003	8.79%	-37.7%
2002	14.10%	-0.3%
2001	14.14%	+42.4%
2000	9.93%	+1,938.9%
1999	-0.54%	-

FAQ

What is the current annual operating margin of TS?: As of today, TS annual operating margin is 19.13%
What is 1-year change in TS annual operating margin?: TS annual operating margin is down -4.06% year-over-year
What is 3-year change in TS annual operating margin?: TS annual operating margin is down -23.66% over the past 3 years
How far is TS annual operating margin from its all-time high?: TS annual operating margin is currently -46.85% below its historical high of 35.99% set on December 31, 2006
How does TS annual operating margin rank versus sector peers?: TS annual operating margin is higher than 60.33% of companies in Energy sector
When is TS next annual earnings release?: The next annual earnings release for TS is on February 17, 2027

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Quarterly Operating Margin

19.44%2.28%+13.29%

September 30, 2026

Summary

Current Value: As of today, TS quarterly operating margin is 19.44%, up +13.29% on September 30, 2026
Historical Performance: TS quarterly operating margin is down -1.17% year-over-year, down -24.36% over the past 3 years
All-Time High Comparison: TS quarterly operating margin is currently -49.39% below its historical high of 38.41% set on September 30, 2006
3-Year Low Comparison: TS quarterly operating margin is +13.29% above its 3-year low of 17.16% reached on June 30, 2026
Sector Comparison: TS quarterly operating margin is higher than 51.93% of companies in Energy sector

Performance

TS Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Operating Margin	Sep 30, 26	19.44%	+13.3%	-1.2%	-24.4%	+53.2%
Annual Operating Margin	Dec 31, 25	19.13%	–	-4.1%	-23.7%	+1707.6%
Price	Nov 12, 26	$60.94	+14.7%	+48.8%	+75.9%	+157.7%
PE Ratio	Nov 12, 26	15.61	+9.9%	+42.2%	+174.3%	-6.4%
Quarterly Revenue	Sep 30, 26	$3.10B	+4.6%	+4.5%	-4.3%	+76.7%
Quarterly Operating Profit	Sep 30, 26	$602.55M	+18.5%	+3.3%	-27.6%	+170.7%
Quarterly Gross Margin	Sep 30, 26	33.71%	+3.9%	-0.5%	-12.3%	+15.1%
Quarterly Net Margin	Sep 30, 26	16.80%	+1.3%	+10.5%	-0.5%	-9.7%

Quarterly Operating Margin Highs

TS Quarterly Operating Margin Highs Comparison
Period	High	Date	Current
1Y	19.67%	N/A	-1.2%
3Y	25.70%	N/A	-24.4%
5Y	32.50%	Mar 31, 23	-40.2%
All	38.41%	Sep 30, 06	-49.4%

Quarterly Operating Margin Lows

TS Quarterly Operating Margin Lows Comparison
Period	Low	Date	Current
1Y	17.16%	Jun 30, 26	+13.3%
3Y	17.16%	Jun 30, 26	+13.3%
5Y	12.69%	N/A	+53.2%
All	-7.62%	Sep 30, 20	+355.1%

Quarterly Operating Margin History

Month	Value	Change
Sep 2026	19.44%	+13.3%
Jun 2026	17.16%	-10.2%
Mar 2026	19.11%	-1.4%
Dec 2025	19.38%	-1.5%
Sep 2025	19.67%	+3.6%
Jun 2025	18.99%	+2.3%
Mar 2025	18.57%	-3.2%
Dec 2024	19.19%	+5.5%
Sep 2024	18.19%	-10.8%
Jun 2024	20.39%	-13.4%
Mar 2024	23.54%	-2.0%
Dec 2023	24.02%	-6.5%
Sep 2023	25.70%	-18.1%
Jun 2023	31.39%	-3.4%
Mar 2023	32.50%	+6.8%
Dec 2022	30.43%	+12.5%
Sep 2022	27.06%	+16.0%
Jun 2022	23.33%	+15.0%
Mar 2022	20.29%	+46.4%
Dec 2021	13.86%	+9.2%
Sep 2021	12.69%	+64.4%
Jun 2021	7.72%	+108.6%
Mar 2021	3.70%	+696.8%
Dec 2020	-0.62%	+91.9%
Sep 2020	-7.62%	-8.4%
Jun 2020	-7.03%	-211.1%
Mar 2020	6.33%	-29.4%
Dec 2019	8.97%	-15.2%
Sep 2019	10.58%	-18.0%
Jun 2019	12.90%	-6.8%
Mar 2019	13.84%	+65.6%
Dec 2018	8.36%	-38.4%
Sep 2018	13.58%	+8.3%
Jun 2018	12.54%	+10.9%
Mar 2018	11.31%	+6.9%
Dec 2017	10.58%	+72.6%
Sep 2017	6.13%	+52.5%
Jun 2017	4.02%	+30.5%
Mar 2017	3.08%	+310.7%
Dec 2016	0.75%	+115.0%
Sep 2016	-5.01%	+8.7%
Jun 2016	-5.49%	-317.9%
Mar 2016	2.52%	+29.9%
Dec 2015	1.94%	-62.7%
Sep 2015	5.20%	-8.5%
Jun 2015	5.68%	-66.0%
Mar 2015	16.72%	-15.7%
Dec 2014	19.83%	+11.5%

Month	Value	Change
Sep 2014	17.78%	-14.3%
Jun 2014	20.74%	-5.1%
Mar 2014	21.86%	-0.5%
Dec 2013	21.98%	+13.4%
Sep 2013	19.39%	-6.3%
Jun 2013	20.69%	-0.6%
Mar 2013	20.81%	-2.9%
Dec 2012	21.44%	+5.6%
Sep 2012	20.30%	-8.3%
Jun 2012	22.14%	+3.1%
Mar 2012	21.48%	+6.4%
Dec 2011	20.18%	+4.1%
Sep 2011	19.38%	+13.2%
Jun 2011	17.12%	-9.6%
Mar 2011	18.93%	+3.0%
Dec 2010	18.37%	-7.9%
Sep 2010	19.95%	-2.9%
Jun 2010	20.55%	+10.7%
Mar 2010	18.57%	+3.7%
Dec 2009	17.90%	-12.0%
Sep 2009	20.35%	-2.1%
Jun 2009	20.78%	-24.8%
Mar 2009	27.63%	+60.0%
Dec 2008	17.27%	-41.1%
Sep 2008	29.32%	+12.1%
Jun 2008	26.16%	-3.2%
Mar 2008	27.03%	-4.1%
Dec 2007	28.19%	+2.3%
Sep 2007	27.55%	-8.7%
Jun 2007	30.19%	-3.4%
Mar 2007	31.24%	-5.0%
Dec 2006	32.89%	-14.4%
Sep 2006	38.41%	+2.5%
Jun 2006	37.48%	+1.8%
Mar 2006	36.82%	+21.2%
Dec 2005	30.39%	+5.7%
Sep 2005	28.74%	+2.7%
Jun 2005	27.98%	+0.9%
Mar 2005	27.72%	+59.5%
Dec 2004	17.38%	-13.3%
Sep 2004	20.04%	+30.0%
Jun 2004	15.42%	+33.7%
Mar 2004	11.53%	+373.9%
Dec 2003	-4.21%	-129.3%
Sep 2003	14.38%	+11.1%
Jun 2003	12.94%	+4.2%
Mar 2003	12.42%	-

FAQ

What is the current quarterly operating margin of TS?: As of today, TS quarterly operating margin is 19.44%
What is TS quarterly operating margin most recent change?: TS quarterly operating margin was up +13.29% on September 30, 2026
What is 1-year change in TS quarterly operating margin?: TS quarterly operating margin is down -1.17% year-over-year
How far is TS quarterly operating margin from its all-time high?: TS quarterly operating margin is currently -49.39% below its historical high of 38.41% set on September 30, 2006
How does TS quarterly operating margin rank versus sector peers?: TS quarterly operating margin is higher than 51.93% of companies in Energy sector
When is TS next earnings release?: The next earnings release for TS is on February 17, 2027

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Data Sources & References

TS Official Website www.tenaris.com
TS Profile on Yahoo Finance finance.yahoo.com/quote/TS
TS Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/ts