Filing Flows › Comparisons › STLD vs TS
Steel Dynamics vs Tenaris SA: STLD and TS compared
Steel Dynamics is the larger company: $6.5B of revenue in its latest quarter (Q3 2026) against $3.1B for Tenaris SA (Q3 2026). Steel Dynamics is growing faster (+35% against +4% a year earlier). Tenaris SA is more profitable, with an operating margin of 19.3% against 15.5%.
Where the money goes: STLD and TS
Steel Dynamics (STLD) · Q3 2026
Steel Dynamics, Q3 2026: revenue $6.5B (+35% year over year), operating margin 15.5%, net earnings $756M, operating cash flow $846M. The chart follows the revenue to costs, profit and cash.
Tenaris SA (TS) · Q3 2026
Tenaris SA, Q3 2026: revenue $3.1B (+4% year over year), operating margin 19.3%, net earnings $509M. The chart follows the revenue to costs, profit and cash.
| Steel Dynamics (STLD) | Tenaris SA (TS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $6.5B | $3.1B |
| Revenue growth, Y/Y | +35% | +4% |
| Gross margin | 19.7% | 34.5% |
| Operating margin | 15.5% | 19.3% |
| Net earnings | $756M | $509M |
| Net margin | 11.6% | 16.4% |
| Operating cash flow | $846M | — |
| Free cash flow | $696M | — |
| Market value | $31.9B | — |
| P/E | 16.4× | — |
| Analysts’ mean target | $272.68 | — |
Questions
Which is bigger, Steel Dynamics or Tenaris SA?
Steel Dynamics is the larger company: $6.5B of revenue in its latest quarter (Q3 2026) against $3.1B for Tenaris SA (Q3 2026).
Is Steel Dynamics or Tenaris SA growing faster?
Steel Dynamics is growing faster (+35% against +4% a year earlier).
Which is more profitable, Steel Dynamics or Tenaris SA?
Tenaris SA is more profitable, with an operating margin of 19.3% against 15.5%.
More: Steel Dynamics earnings · how Steel Dynamics makes money · Tenaris SA earnings · how Tenaris SA makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 23, 2026; 6-K filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.