How Tenaris ADR makes money

Period

FY2025

How does Tenaris ADR make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Tenaris S.A. American Depositary Shares · FY2025 · year ended 2025-12-31

Revenue$12.0BGross profit$4.1B · 34%Cost of revenue$7.9B · 66%Operating income$2.3B · 19%Operating expenses$1.8B · 15%R&D$64M · 1%Other opex$1.8B · 15%Pre-tax income$2.5B · 21%Other income$191M · 2%Net income$2.0B · 16%Income tax$501M · 4%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.