Filing Flows › Tenaris SA (TS) › Q4 2025
Tenaris SA (TS) Q4 2025 earnings results (fourth quarter 2025)
6-K filed Feb 19, 2026
Tenaris SA (TS) reported revenue of $3.0B for the fourth quarter 2025 (Q4 2025), +5% from a year earlier. Operating margin was 18.5%, net earnings $449M (15.0% of revenue).
Tenaris SA, Q4 2025: revenue $3.0B (+5% year over year), operating margin 18.5%, net earnings $449M, operating cash flow $787M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | — | +5% |
| Gross profit | $1.0B | — | +10% |
| Operating profit | $554M | — | -0.8% |
| Net earnings | $449M | — | -13% |
| Operating cash flow | $787M | — | +60% |
| Free cash flow | $665M | — | +114% |
What changed
Revenue was $3.0B in Q4 2025, up 5% year over year.
Gross margin was 33.9%, up 1.4 points from a year earlier. Operating profit was $0.55B, a 18.5% margin (down 1.1 points year over year). Operating profit fell $4.4M even though revenue rose $0.15B versus a year earlier, so costs grew faster than sales. Operating expenses grew 26% against revenue growth of 5%. Net earnings were $0.45B, down 13% year over year. The effective tax rate was 23.6%.
Operating cash flow was $0.79B (up 60% year over year), 171% of net income including minority interests. Non-cash charges added back $0.16B of depreciation and amortization. Working capital and other items added $0.16B. Capital expenditures of $0.12B left free cash flow of $0.66B.
Questions
What was Tenaris SA's revenue in the fourth quarter 2025?
Tenaris SA (TS) reported revenue of $3.0B for the fourth quarter 2025 (Q4 2025), +5% from a year earlier.
Was Tenaris SA profitable in the fourth quarter 2025?
Operating profit was $554M (18.5% of revenue) and net earnings $449M.
Source: Tenaris SA 6-K on SEC EDGAR.