TS P/B: current value, 10-year range and year-by-year history
Cash & Leverage
TS's p/b is higher than 82% of the last 10 years.
P/B History
TS P/B by year
Yearly range of TS’s p/b from 2016 to 2026. Over the full period it ranged from 0.5 to 2.0, averaging 1.3.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 1.2 | 1.7 | 1.9 | 1.7 |
| 2025 | 1.0 | 1.2 | 1.3 | 1.2 |
| 2024 | 0.9 | 1.1 | 1.4 | 1.2 |
| 2023 | 1.0 | 1.2 | 1.6 | 1.3 |
| 2022 | 1.1 | 1.3 | 1.6 | 1.6 |
| 2021 | 0.8 | 1.1 | 1.3 | 1.0 |
| 2020 | 0.5 | 0.7 | 1.1 | 0.8 |
| 2019 | 1.0 | 1.2 | 1.5 | 1.1 |
| 2018 | 1.0 | 1.7 | 2.0 | 1.1 |
| 2017 | 1.3 | 1.6 | 1.9 | 1.6 |
| 2016 | 1.3 | 1.5 | 1.8 | 1.8 |
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How much the market pays relative to the company's accounting net worth (assets minus liabilities). P/B < 1 means the market values the company below what the books say it owns.
Price / Book Value Per ShareMost useful for asset-heavy businesses: banks, insurers, REITs. A P/B near its historical low suggests the market is paying unusually little for the net assets.
- Goodwill and intangibles from acquisitions can inflate book value significantly — some analysts prefer tangible book value.
- Low P/B in technology or software companies is usually irrelevant: their value is in IP and people, not balance sheet assets.
Is TS P/B High or Low Right Now?
Tenaris S.A.'s P/B is currently 1.7, which is historically pricey relative to its 10-year historical range. The 10-year median P/B for TS is approximately 1.2. See all TS valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.