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Tenaris (CHIX:TENM) Cyclically Adjusted Price-to-FCF : 23.40 (As of Dec. 11, 2024)


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What is Tenaris Cyclically Adjusted Price-to-FCF?

As of today (2024-12-11), Tenaris's current share price is €18.485. Tenaris's Cyclically Adjusted FCF per Share for the quarter that ended in Sep. 2024 was €0.79. Tenaris's Cyclically Adjusted Price-to-FCF for today is 23.40.

The historical rank and industry rank for Tenaris's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

CHIX:TENm' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 7.68   Med: 20.75   Max: 33.29
Current: 22.75

During the past years, Tenaris's highest Cyclically Adjusted Price-to-FCF was 33.29. The lowest was 7.68. And the median was 20.75.

CHIX:TENm's Cyclically Adjusted Price-to-FCF is ranked worse than
69.13% of 392 companies
in the Oil & Gas industry
Industry Median: 12.77 vs CHIX:TENm: 22.75

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Tenaris's adjusted free cash flow per share data for the three months ended in Sep. 2024 was €0.298. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is €0.79 for the trailing ten years ended in Sep. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Tenaris Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Tenaris's Cyclically Adjusted Price-to-FCF 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.

* Premium members only.

Tenaris Cyclically Adjusted Price-to-FCF Chart

Tenaris Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 22.89 12.29 17.67 30.96 22.00

Tenaris Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 21.82 22.00 24.40 18.18 17.82

Competitive Comparison of Tenaris's Cyclically Adjusted Price-to-FCF

For the Oil & Gas Equipment & Services subindustry, Tenaris's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Tenaris's Cyclically Adjusted Price-to-FCF Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Tenaris's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Tenaris's Cyclically Adjusted Price-to-FCF falls into.



Tenaris Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Tenaris's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=18.485/0.79
=23.40

* 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.

Tenaris's Cyclically Adjusted FCF per Share for the quarter that ended in Sep. 2024 is calculated as:

For example, Tenaris's adjusted Free Cash Flow per Share data for the three months ended in Sep. 2024 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Sep. 2024 (Change)*Current CPI (Sep. 2024)
=0.298/123.3000*123.3000
=0.298

Current CPI (Sep. 2024) = 123.3000.

Tenaris Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201412 -0.123 98.830 -0.153
201503 0.483 99.980 0.596
201506 0.217 100.640 0.266
201509 0.216 100.380 0.265
201512 -0.076 99.910 -0.094
201603 0.061 100.030 0.075
201606 0.129 100.660 0.158
201609 0.064 100.750 0.078
201612 -0.189 101.040 -0.231
201703 -0.088 101.780 -0.107
201706 -0.141 102.170 -0.170
201709 -0.103 102.520 -0.124
201712 -0.099 102.410 -0.119
201803 -0.083 102.900 -0.099
201806 0.180 103.650 0.214
201809 -0.019 104.580 -0.022
201812 0.119 104.320 0.141
201903 0.346 105.140 0.406
201906 0.184 105.550 0.215
201909 0.221 105.900 0.257
201912 0.140 106.080 0.163
202003 0.343 106.040 0.399
202006 0.302 106.340 0.350
202009 0.270 106.620 0.312
202012 0.070 106.670 0.081
202103 0.016 108.140 0.018
202106 -0.073 108.680 -0.083
202109 -0.015 109.470 -0.017
202112 -0.017 111.090 -0.019
202203 -0.086 114.780 -0.092
202206 0.282 116.750 0.298
202209 0.096 117.000 0.101
202212 0.322 117.060 0.339
202303 0.636 118.910 0.659
202306 0.920 120.460 0.942
202309 0.893 121.740 0.904
202312 0.525 121.170 0.534
202403 0.567 122.590 0.570
202406 0.623 123.120 0.624
202409 0.298 123.300 0.298

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Tenaris  (CHIX:TENm) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Tenaris Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of Tenaris's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


Tenaris Business Description

Industry
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Address
26, Boulevard Royal, 4th Floor, Luxembourg, LUX, L-2449
Tenaris is one of the largest global producers of oil country tubular goods, which are used primarily in the construction of oil and gas wells. Its production facilities are located primarily in the US, 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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