TS vs TX
Tenaris SA and Ternium S.a., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | TS | TX |
|---|---|---|
| Revenue | $12.0B | $15.6B |
| Net income | $1.9B | $425.2M |
| Gross margin | 34.4% | 15.1% |
| Net margin | 16.1% | 2.7% |
| Return on equity | 11.6% | 3.6% |
| Diluted EPS | $1.83 | $0.22 |
| Dividend / share | — | $0.27 |
| Payout ratio | 46.6% | 124.6% |
| Free cash flow | — | $-345.5M |
| Equity | $16.6B | $11.9B |
| Net debt / equity | −0.02× | 0.07× |
| Current ratio | 3.87× | 2.49× |
| Revenue CAGR 5y | 18.4% | 12.3% |
| Profit CAGR 5y | — | −11.4% |
TX bills 1.3× the revenue of TS, and TS keeps more of each dollar of revenue as profit (16.1% against 2.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | TS | TX |
|---|---|---|
| FY2025 | $12.0B | $15.6B |
| FY2024 | $12.5B | $17.6B |
| FY2023 | $14.9B | $17.6B |
| FY2022 | $11.8B | $16.4B |
| FY2021 | $6.5B | $16.1B |
| FY2020 | $5.1B | $8.7B |
| FY2019 | $7.3B | $10.2B |
| FY2018 | $7.7B | $11.5B |
| FY2017 | $5.3B | $9.7B |
| FY2016 | $4.3B | $7.2B |
Net income by year
Bottom line
| Fiscal year | TS | TX |
|---|---|---|
| FY2025 | $1.9B | $425.2M |
| FY2024 | $2.0B | $-53.7M |
| FY2023 | $3.9B | $676.0M |
| FY2022 | $2.6B | $1.8B |
| FY2021 | $1.1B | $3.8B |
| FY2020 | $-634.4M | $778.5M |
| FY2019 | $742.7M | $564.3M |
| FY2018 | $876.1M | $1.5B |
| FY2017 | $544.7M | $886.2M |
| FY2016 | $55.3M | $595.6M |
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