NOV vs TS: NOV and Tenaris SA ADR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Tenaris SA ADR is the larger company, worth $27.7B, about 3.9 times NOV.
- NOV grew revenue faster over the last year (-2.4% vs -4.3%).
- Tenaris SA ADR keeps more of each dollar of revenue as operating profit (19.1% vs 4.5%).
- On earnings, Tenaris SA ADR is the cheaper stock (31.3x vs 78.3x).
- Tenaris SA ADR's price assumes faster free cash flow growth: about 0% a year, against -7% for NOV (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | NOV | TS |
|---|---|---|
| Market cap | $7.0B | $27.7B |
| Share price | $18.97 | $57.34 |
| Revenue (last fiscal year) | $8.7B | $12.0B |
| Free cash flow (last fiscal year) | $876M | $2.0B |
| Revenue growth, last year | -2.4% | -4.3% |
| Revenue growth per year, last 5 fiscal years | +12.2% | +16.4% |
| Operating margin | 4.5% | 19.1% |
| Net margin | 1.1% | 16.1% |
| Return on equity | 1.5% | 11.6% |
| P/E (trailing) | 78.3x | 31.3x |
| Price / free cash flow | 8.14x | 14.0x |
| EV / EBITDA | 10.8x | 8.58x |
| FCF growth the price implies | -7.2% | 0.29% |
| Dividend yield | 1.6% | 3.2% |
| Debt / equity | 0.78x | 0.20x |
| Fundamental grade | D | C |
| Superinvestors holding it | 8 | 0 |
| Insider purchases, last 12 months | 1 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
NOV
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.5B | $90M | -2.4% |
| 2022 | $7.2B | -$393M | 3.6% |
| 2023 | $8.6B | -$140M | 7.6% |
| 2024 | $8.9B | $953M | 9.9% |
| 2025 | $8.7B | $876M | 5.6% |
Tenaris SA ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $6.5B | -$120M | 10.8% |
| 2022 | $11.8B | $789M | 25.2% |
| 2023 | $14.9B | $3.8B | 29.0% |
| 2024 | $12.5B | $2.2B | 19.3% |
| 2025 | $12.0B | $2.0B | 19.1% |
Where the revenue comes from
NOV · by segments, 2025
Energy Equipments$4.9B55%
Energy Products and Services$4.0B45%
Tenaris SA ADR · by segments, 2025
Tubes$11.4B95%
Other$581M5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open NOV in InvestinglyQuestions
Which is bigger, NOV or Tenaris SA ADR?
Tenaris SA ADR (TS), at $27.7B against $7.0B.
Is NOV or TS cheaper?
By trailing P/E, Tenaris SA ADR (31.3x) is cheaper than NOV (78.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, NOV or TS?
NOV: revenue grew -2.4% over the last year, against -4.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.