Filing Flows › Tenaris SA (TS) › Operating margin
Tenaris SA (TS) operating margin by quarter
Tenaris SA's operating margin was 19.3% in Q3 2026 (third quarter 2026), +2.6 pts from Q2 2026. Over the last 6 quarters it ranged from 16.7% (Q2 2026) to 20.0% (Q3 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 19.3% | +2.6 pts | -0.8 pts |
| Q2 2026 | 16.7% | -2.2 pts | -2.2 pts |
| Q1 2026 | 18.8% | +0.3 pts | — |
| Q4 2025 | 18.5% | -1.5 pts | — |
| Q3 2025 | 20.0% | +1.1 pts | — |
| Q2 2025 | 18.9% | — | — |
Q3 2026 at a glance
Tenaris SA, Q3 2026: revenue $3.1B (+4% year over year), operating margin 19.3%, net earnings $509M, operating cash flow $366M. The chart follows the revenue to costs, profit and cash.
Questions
What is Tenaris SA's operating margin?
Tenaris SA's operating margin was 19.3% in Q3 2026 (third quarter 2026), +2.6 pts from Q2 2026.
How has Tenaris SA's operating margin changed?
Over the last 6 quarters it ranged from 16.7% (Q2 2026) to 20.0% (Q3 2025).