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Tenaris SA vs Commercial Metals: TS and CMC compared
Tenaris SA is the larger company: $3.1B of revenue in its latest quarter (Q3 2026) against $2.7B for Commercial Metals (Q4 FY26). Commercial Metals is growing faster (+26% against +4% a year earlier). Tenaris SA is more profitable, with an operating margin of 19.3% against 8.6%.
Where the money goes: TS and CMC
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.
Commercial Metals (CMC) · Q4 FY26
Commercial Metals, Q4 FY26: revenue $2.7B (+26% year over year), operating margin 8.6%, net earnings $213M, operating cash flow $456M. The chart follows the revenue to costs, profit and cash.
| Tenaris SA (TS) | Commercial Metals (CMC) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q4 FY26 |
| Revenue | $3.1B | $2.7B |
| Revenue growth, Y/Y | +4% | +26% |
| Gross margin | 34.5% | — |
| Operating margin | 19.3% | 8.6% |
| Net earnings | $509M | $213M |
| Net margin | 16.4% | 8.0% |
| Operating cash flow | — | $456M |
| Free cash flow | — | $280M |
| Market value | — | $7.0B |
| P/E | — | 10.7× |
| Analysts’ mean target | — | $78.00 |
Questions
Which is bigger, Tenaris SA or Commercial Metals?
Tenaris SA is the larger company: $3.1B of revenue in its latest quarter (Q3 2026) against $2.7B for Commercial Metals (Q4 FY26).
Is Tenaris SA or Commercial Metals growing faster?
Commercial Metals is growing faster (+26% against +4% a year earlier).
Which is more profitable, Tenaris SA or Commercial Metals?
Tenaris SA is more profitable, with an operating margin of 19.3% against 8.6%.
More: Tenaris SA earnings · how Tenaris SA makes money · Commercial Metals earnings · how Commercial Metals makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Nov 5, 2026; 10-K filed Oct 16, 2026). Fiscal quarters can end on different dates. Not investment advice.