HWM vs TS
Howmet Aerospace Inc. and Tenaris SA, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | HWM | TS |
|---|---|---|
| Revenue | $8.3B | $12.0B |
| Net income | $1.5B | $1.9B |
| Gross margin | 34.2% | 34.4% |
| Net margin | 18.3% | 16.5% |
| Return on equity | 30.4% | 11.6% |
| Diluted EPS | $3.71 | $1.83 |
| Dividend / share | $0.44 | · |
| Payout ratio | · | 46.6% |
| Free cash flow | $1.4B | · |
| Equity | $5.4B | $16.6B |
| Net debt / equity | 0.43× | −0.02× |
| Current ratio | 2.13× | 3.87× |
| Revenue CAGR 5y | 9.4% | 18.4% |
| Profit CAGR 5y | 42.0% | · |
TS bills 1.5× the revenue of HWM, and HWM keeps more of each dollar of revenue as profit (18.3% against 16.5%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | HWM | TS |
|---|---|---|
| FY2025 | $8.3B | $12.0B |
| FY2024 | $7.4B | $12.5B |
| FY2023 | $6.6B | $14.9B |
| FY2022 | $5.7B | $11.8B |
| FY2021 | $5.0B | $6.5B |
| FY2020 | $5.3B | $5.1B |
| FY2019 | $7.1B | $7.3B |
| FY2018 | $6.8B | $7.7B |
| FY2017 | $13.0B | $5.3B |
| FY2016 | $12.4B | $4.3B |
Bottom line
| Fiscal year | HWM | TS |
|---|---|---|
| FY2025 | $1.5B | $1.9B |
| FY2024 | $1.2B | $2.0B |
| FY2023 | $765.0M | $3.9B |
| FY2022 | $469.0M | $2.6B |
| FY2021 | $258.0M | $1.1B |
| FY2020 | $261.0M | $-634.4M |
| FY2019 | $470.0M | $742.7M |
| FY2018 | $642.0M | $876.1M |
| FY2017 | $-74.0M | $544.7M |
| FY2016 | $-941.0M | $55.3M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$3,729,157,000 | TS |
| FY2024 | −$5,093,934,000 | TS |
| FY2023 | −$8,228,860,000 | TS |
| FY2022 | −$6,099,526,000 | TS |
| FY2021 | −$1,549,207,000 | TS |
| FY2020 | +$112,266,000 | HWM |
| FY2019 | −$196,055,000 | TS |
| FY2018 | −$880,588,000 | TS |
| FY2017 | +$7,671,496,000 | HWM |
| FY2016 | +$8,100,408,000 | HWM |
| FY2015 | +$5,509,877,000 | HWM |
The higher-revenue side has changed between HWM and TS over this period. The gap has narrowed since the earliest year compared.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +1.8 pp | HWM |
| FY2024 | −1.0 pp | TS |
| FY2023 | −15.1 pp | TS |
| FY2022 | −13.4 pp | TS |
| FY2021 | −11.0 pp | TS |
| FY2020 | +17.4 pp | HWM |
| FY2019 | −3.4 pp | TS |
| FY2018 | −1.9 pp | TS |
| FY2017 | −10.7 pp | TS |
| FY2016 | −8.5 pp | TS |
| FY2015 | −0.5 pp | TS |
The higher net margin has changed hands between HWM and TS over this period.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TS's net margin has been more volatile than HWM's over the 11 comparable fiscal years — 10.6 percentage points of standard deviation against 7.1.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between HWM and TS over these 11 fiscal years — HWM led in 2 and TS in 9.
11 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
HWM's return on equity has been more volatile than TS's over the 11 comparable fiscal years — 12.0 percentage points of standard deviation against 8.5.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between HWM and TS over these 11 fiscal years — HWM led in 5 and TS in 6.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.