SEI vs TS: Solaris Energy Infrastructure 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 4.2 times Solaris Energy Infrastructure.
- Solaris Energy Infrastructure grew revenue faster over the last year (+30.0% vs -4.3%).
- Solaris Energy Infrastructure keeps more of each dollar of revenue as operating profit (33.5% vs 19.1%).
- On earnings, Tenaris SA ADR is the cheaper stock (31.3x vs 85.0x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | SEI | TS |
|---|---|---|
| Market cap | $6.7B | $27.7B |
| Share price | $76.40 | $57.34 |
| Revenue (last fiscal year) | $622M | $12.0B |
| Free cash flow (last fiscal year) | -$438M | $2.0B |
| Revenue growth, last year | +30.0% | -4.3% |
| Revenue growth per year, last 5 fiscal years | +43.7% | +16.4% |
| Operating margin | 33.5% | 19.1% |
| Net margin | 9.9% | 16.1% |
| Return on equity | 6.1% | 11.6% |
| P/E (trailing) | 85.0x | 31.3x |
| Price / free cash flow | — | 14.0x |
| EV / EBITDA | 23.0x | 8.58x |
| FCF growth the price implies | — | 0.29% |
| Dividend yield | 0.62% | 3.2% |
| Debt / equity | 3.38x | 0.20x |
| Fundamental grade | C | C |
| Superinvestors holding it | 3 | 0 |
| Insider purchases, last 12 months | 3 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Solaris Energy Infrastructure
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $146M | -$3M | -0.27% |
| 2022 | $300M | -$13M | 13.9% |
| 2023 | $293M | $25M | 17.0% |
| 2024 | $313M | -$129M | 16.9% |
| 2025 | $622M | -$438M | 21.8% |
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
Solaris Energy Infrastructure · by segments, 2025
Solaris Power Solutions$334M54%
Solaris Logistics Solutions$289M46%
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 SEI in InvestinglyQuestions
Which is bigger, Solaris Energy Infrastructure or Tenaris SA ADR?
Tenaris SA ADR (TS), at $27.7B against $6.7B.
Is SEI or TS cheaper?
By trailing P/E, Tenaris SA ADR (31.3x) is cheaper than Solaris Energy Infrastructure (85.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, SEI or TS?
Solaris Energy Infrastructure: revenue grew +30.0% 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.