---
canonical_url: https://www.stockexpertai.com/ko/stock/ts
last_updated: 2026-09-11
data_as_of: 2026-09-11
analysis_date: 2026-06-05
doc_version: "1.0"
language: ko
title: "Tenaris S.A. produces and sells seamless and welded steel tubular products, providing related services for the oil and gas industry, and other industrial applications. The company (TS) — AI 주식 분석"
description: "Tenaris S.A.(TS) 주식 분석: AI 기반 투자 인사이트, 재무 지표, 성장 전망 및 리스크 요인을 확인하세요."
author: Stock Expert AI (machine-generated)
author_type: Organization
content_generation: machine
generated_by_model: gemini-2.0-flash
generated_on: 2026-03-15
publisher: Stock Expert AI
ticker: TS
exchange: NYSE
---

# Tenaris S.A. produces and sells seamless and welded steel tubular products, providing related services for the oil and gas industry, and other industrial applications. The company (TS) — AI 주식 분석

> **출처:** Stock Expert AI ([https://www.stockexpertai.com/ko/stock/ts](https://www.stockexpertai.com/ko/stock/ts))  
> **마크다운 피드:** https://www.stockexpertai.com/ko/stock/ts.md  
> **최종 업데이트:** 2026-09-11  
> **면책 조항:** 이것은 재무 조언이 아닙니다. 교육 목적으로만 사용됩니다.

Tenaris S.A.(TS) 주식 분석: AI 기반 투자 인사이트, 재무 지표, 성장 전망 및 리스크 요인을 확인하세요.

## 빠른 답변

TS는 Tenaris S.A.를 나타내며, 주가 $57.31($30.8B 시가총액)의 에너지 기업입니다. 펀더멘털, 기술적, 심리 요인 전반에서 89/100의 높은 신뢰도 점수를 기록합니다.

Tenaris S.A. is a global leader in manufacturing and supplying seamless and welded steel tubular products and related services to the 석유 및 가스 industry and other industrial sectors. The company's vertically integrated operations and extensive geographic reach across North and South America, Europe, the Middle East, Africa, and 아시아 태평양 position it as a key player in the energy infrastructure 공급망.

## 스냅샷

- **가격:** $57.31 (+0.39 / +0.69%) (시세 2026-09-11 기준)
- **시가총액:** $30.8B
- **섹터:** 에너지
- **산업:** 석유 및 가스 Equipment & Services
- **MoonshotScore:** 89/100 (Grade A+)
- **방법론:** MoonshotScore는 투명한 0-100 등급입니다. 미국 상장 보통주는 사업 품질, 재무 안전성, 밸류에이션, 성장 지속성, 모멘텀의 5대 축에 걸쳐 섹터 동종 기업과 비교해 점수가 매겨지며, ETF, OTC 및 해외 상장 종목은 9개 시그널 레거시 모델을 사용합니다. 이는 금융 조언이 아닌 교육 및 심층 실사를 위해 만들어졌습니다. [방법론](https://www.stockexpertai.com/ko/methodology)
- **P/E 비율:** 15.30
- **애널리스트 목표가:** $66.67 (애널리스트 컨센서스)
- **거래량:** 345.6K
- **ADR 본국:** Luxembourg City, LU

## 정보 Tenaris S.A.

Tenaris S.A., incorporated in 2001 and based in Luxembourg, is a global manufacturer and supplier of steel tubes and related services. As a subsidiary of Techint Holdings S.à r.l., Tenaris has established itself as a key player in the 석유 및 가스 industry, providing a 포괄적인 range of products, including steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings. These products are essential for 석유 및 가스 drilling, workovers, and subsea 파이프라인. The company's offerings also extend to coiled tubing products, umbilical tubing products, and tubular accessories. Beyond the 석유 및 가스 sector, Tenaris supplies sucker rods, industrial equipment, heat exchangers, and utility conduits for buildings, and also sells energy and raw materials. Tenaris operates across 북미, South America, Europe, the Middle East and Africa, and the 아시아 태평양, serving a diverse 고객 기반 with its integrated manufacturing and service capabilities.

## 주요 사실

- **CEO:** Paolo Rocca
- **본사:** Luxembourg City, LU
- **직원 수:** 24,875
- **상장:** 2002

## 사업 내용

- Manufactures and sells seamless and welded steel tubular products.
- Provides related services for the 석유 및 가스 industry.
- Offers steel casings and tubing products.
- Supplies mechanical and structural pipes.
- Produces cold-drawn pipes and premium joints and couplings.
- Provides coiled tubing products for 석유 및 가스 drilling and workovers.
- Offers umbilical tubing products and tubular accessories.

## 비즈니스 모델

- Manufactures and sells steel tubular products to the 석유 및 가스 industry and other industrial sectors.
- Provides value-added services, such as threading, coating, and logistics.
- Generates 매출 through product sales and service contracts.
- Operates on a global scale, serving 고객 in 북미, South America, Europe, the Middle East and Africa, and the 아시아 태평양.

## 성장 기회

- Expansion in the 북미n Market: Tenaris can capitalize on the increasing demand for steel tubular products in the 북미n 석유 및 가스 sector, driven by shale gas and oil production. The market size is estimated to reach $15 billion by 2028. By leveraging its existing infrastructure and customer relationships, Tenaris can increase its 시장점유율 and 매출 in this region.
- Penetration of the Offshore Drilling Market: With the resurgence of offshore drilling activities, Tenaris has an opportunity to expand its presence in the subsea 파이프라인 and umbilical tubing market. The global offshore drilling market is projected to reach $200 billion by 2030. Tenaris's expertise in providing high-quality tubular products for harsh environments positions it favorably to capture a 상당한 share of this market.
- Diversification into 재생에너지 Infrastructure: Tenaris can diversify its 제품 라인업 to cater to the growing 재생에너지 sector, supplying steel tubes for wind turbine towers, 태양광 panel structures, and geothermal energy projects. The 재생에너지 infrastructure market is expected to reach $500 billion by 2027. This diversification strategy can reduce Tenaris's reliance on the 석유 및 가스 industry and create new 수익원.
- Development of Advanced Tubular Solutions: Investing in 연구개발(R&D) to create advanced steel tubular solutions with enhanced properties, such as corrosion resistance and high strength, can provide a 경쟁 우위. The market for advanced tubular solutions is estimated at $5 billion. Tenaris can collaborate with research institutions and technology partners to develop 혁신적인 products that meet the evolving needs of the energy industry.
- 전략적 인수 and 파트너십: Pursuing 전략적 인수 and 파트너십 with complementary businesses can expand Tenaris's product portfolio, geographic reach, and technological capabilities. The company can target companies specializing in tubular accessories, coating services, or digital solutions for the energy industry. These 전략적 moves can accelerate Tenaris's growth and strengthen its 시장 입지.

## 주요 하이라이트

- 시가총액 of $30.8Billion, reflecting its 상당한 presence in the steel tubular products market.
- 주가수익비율(P/E) of 13.88, indicating a potentially 저평가된 stock compared to its 실적.
- 배당수익률 of 3.16%, providing a steady income stream for 투자자.

## 경쟁 우위

- Global scale and extensive distribution network.
- Vertically integrated operations, from steelmaking to tubular product manufacturing.
- Strong brand reputation and long-standing customer relationships.
- Technological expertise and 혁신 in tubular solutions.

## 경쟁사

- **[Cheniere Energy Partners LP](https://www.stockexpertai.com/ko/stock/cqp):** Focuses on LNG infrastructure.
- **[Coterra Energy Inc.](https://www.stockexpertai.com/ko/stock/ctra):** Independent 석유 및 가스 company.
- **[Devon Energy Corp.](https://www.stockexpertai.com/ko/stock/dvn):** Independent energy company focused on US resources.
- **[Encana Corporation](https://www.stockexpertai.com/ko/stock/ec):** 북미n energy producer.
- **[Exterran Corporation](https://www.stockexpertai.com/ko/stock/exeel):** Provides oil, gas, and water solutions.

## SWOT 분석

### 강점

- Global presence and extensive distribution network.
- Vertically integrated operations.
- Strong brand reputation and customer relationships.
- Technological expertise and 혁신.

### 약점

- Sensitivity to 원자재 price fluctuations.
- Cyclical nature of the 석유 및 가스 industry.
- Exposure to political and economic risks in certain regions.
- Dependence on a single industry (석유 및 가스).

### 기회

- Expansion in 신흥 시장.
- Diversification into 재생에너지 infrastructure.
- Development of advanced tubular solutions.
- 전략적 인수 and 파트너십.

### 위협

- Increased competition from low-cost manufacturers.
- Technological disruptions in the energy industry.
- Environmental regulations and sustainability concerns.
- 지정학적 instability and trade disputes.

## 촉매제(강세 시나리오)

- 진행 중인: Increased 석유 및 가스 exploration and production activities driving demand for steel tubular products.
- 진행 중인: Infrastructure development projects in 신흥 시장 creating demand for steel pipes.
- 예정된: Potential 전략적 인수 and 파트너십 expanding Tenaris's product portfolio and geographic reach.
- 진행 중인: Government investments in 재생에너지 infrastructure boosting demand for steel tubes.
- 진행 중인: Technological advancements in tubular solutions enhancing product performance and efficiency.

## 리스크(약세 시나리오)

- Potential: Fluctuations in 원자재 prices impacting 수익성.
- 진행 중인: Cyclical nature of the 석유 및 가스 industry leading to volatile demand.
- Potential: Increased competition from low-cost manufacturers eroding 시장점유율.
- 진행 중인: 지정학적 instability and trade disputes disrupting 공급망s.
- Potential: Environmental regulations and sustainability concerns increasing compliance costs.

## 최근 분기 실적

| 분기 | 매출 | 순이익 | EPS |
|---|---|---|---|
| Q2 FY2026 | $2.97B | $477M | $0.95 |
| Q1 FY2026 | $3.11B | $543M | $1.04 |
| Q4 FY2025 | $3.00B | $449M | $0.86 |
| Q3 FY2025 | $2.96B | $444M | $0.82 |

## 경영진

**Paolo Rocca** — Chairman and CEO

## ADR 분석

- **ADR이란:** An American Depositary Receipt (ADR) is a certificate representing shares of a foreign company trading on U.S. stock exchanges. For Tenaris S.A. (TS), each ADR represents a specific number of Tenaris shares traded on its home market. This allows U.S. investors to easily invest in Tenaris without dealing with foreign exchanges.
- **본국 시장:** Borsa Italiana (Italy)
- **환율 리스크:** As an ADR, Tenaris S.A. is subject to currency risk. The value of the ADR can be affected by fluctuations in the exchange rate between the U.S. dollar and the Euro, the currency of Tenaris's home market. A stronger Euro relative to the dollar can increase the value of the ADR, while a weaker Euro can decrease its value.
- **ADR 레벨:** Tenaris S.A. is a Level III ADR. Level III ADRs involve the company issuing new shares to raise capital in the U.S. market. This requires the company to comply with stricter SEC regulations and reporting requirements, providing greater transparency and investor protection.
- **세금 영향:** Dividends paid to U.S. investors holding Tenaris S.A. ADRs may be subject to foreign dividend withholding tax by the Luxembourg government. The standard withholding tax rate is typically 15%. However, the U.S. has a tax treaty with Luxembourg that may reduce the withholding tax rate for eligible investors.
- **거래 시간 차이:** The Borsa Italiana, where Tenaris is primarily listed, typically operates from 9:00 AM to 5:30 PM Central European Time (CET). This translates to 3:00 AM to 11:30 AM Eastern Time (ET). U.S. markets are open from 9:30 AM to 4:00 PM ET. Therefore, there is an overlap in trading hours, but investors should be aware of the potential for price movements in the home market before the U.S. market opens.

## 자주 묻는 질문

### What does Tenaris S.A. do?

Tenaris S.A. is a global leader in the manufacturing and supply of seamless and welded steel tubular products and related services, primarily for the 석유 및 가스 industry. The company's products are used in drilling, completion, and production operations, as well as in 파이프라인 construction and other industrial applications. Tenaris operates a vertically integrated 비즈니스 모델, from steelmaking to tubular product manufacturing, and serves 고객 in 북미, South America, Europe, the Middle East and Africa, and the 아시아 태평양.

### What do analysts say about TS stock?

Analyst 컨센서스 on Tenaris S.A. stock is mixed, with some analysts rating it as a 'buy' or '시장수익률 상회' and others as a 'hold' or 'neutral'. Key 밸류에이션 metrics, such as 주가수익비율(P/E) and 배당수익률, are considered attractive by some analysts. Growth considerations include the company's ability to capitalize on increasing demand for 석유 및 가스 exploration and production, as well as its diversification efforts into 재생에너지 infrastructure. However, analysts also caution about the potential risks associated with 원자재 price 변동성 and the cyclical nature of the 석유 및 가스 industry.

### What are the main risks for TS?

The main risks for Tenaris S.A. include fluctuations in 원자재 prices, particularly steel and oil, which can impact the company's 수익성. The cyclical nature of the 석유 및 가스 industry can lead to volatile demand for Tenaris's products. Increased competition from low-cost manufacturers, particularly in 신흥 시장, can erode 시장점유율. 지정학적 instability and trade disputes can disrupt 공급망s and impact sales. Environmental regulations and sustainability concerns can increase compliance costs and require investments in cleaner technologies.

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