Tenaris (BSP:T1SS34) ROCE % : 22.20% (As of Dec. 2023)

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What is Tenaris ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Tenaris's annualized ROCE % for the quarter that ended in Dec. 2023 was 22.20%.

Tenaris ROCE % Historical Data

The historical data trend for Tenaris's ROCE % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Tenaris ROCE % Chart

Tenaris Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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7.84

-5.16

10.42

22.42

27.89

Tenaris Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
ROCE %	Get a 7-Day Free Trial															30.01	37.76	34.29	20.05	22.20

Tenaris ROCE % Calculation

Tenaris's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	23223.342	/	( ( (92058.06 - 14626.394)	+	(103297.069 - 14219.097) )	/ 2 )
	=	23223.342	/	( (77431.666	+	89077.972)	/ 2 )
	=	23223.342	/	83254.819
	=	27.89 %

Tenaris's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Sep. 2023 )		(Q: Dec. 2023 )
	=	19377.572	/	( ( (97980.514 - 12488.461)	+	(103297.069 - 14219.097) )	/ 2 )
	=	19377.572	/	( ( 85492.053	+	89077.972 )	/ 2 )
	=	19377.572	/	87285.0125
	=	22.20 %

(1) Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

Tenaris (BSP:T1SS34) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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Tenaris (BSP:T1SS34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Tenaris SA (BSP:T1SS34) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

TNRSF:USA TS:USA TEN:Italy TENm:UK 0HXB:UK TW10:Germany

Address

26, Boulevard Royal, 4th Floor, Luxembourg, LUX, L-2449

Website

https://www.tenaris.com

Tenaris is one of the largest global producers of oil country tubular goods, or OCTG, which are used primarily in the construction of oil and gas wells. The company's production facilities are located primarily in the U.S., Argentina, Mexico, and Italy. Tenaris' premium OCTG products are among the most trusted by oil companies for use in the most challenging applications, including deep-water offshore wells and horizontal shale wells.

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