PBR vs. TS: Petróleo Brasileiro S.A. vs. Tenaris Stock Comparison

November 11, 2026

How do Petróleo Brasileiro S.A. (PBR) and Tenaris (TS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Petróleo Brasileiro S.A. (PBR) and Tenaris (TS) both fall under the Energy industry group, but PBR is classified in Oil, Gas & Consumable Fuels while TS is classified in Energy Equipment & Services.

Both Petróleo Brasileiro S.A. (PBR) and Tenaris (TS) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Company profile comparison for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Profile Item	PBR	TS
Name	Petróleo Brasileiro S.A. - Petrobras	Tenaris S.A. American Depositary Shares
Country/Region	Brazil	Luxembourg
GICS Sector	Energy	Energy
GICS Industry Group	Energy	Energy
GICS Industry	Oil, Gas & Consumable Fuels	Energy Equipment & Services
GICS Sub-Industry	Integrated Oil & Gas	Oil & Gas Equipment & Services
Market Capitalization	119.41 billion USD	29.71 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	August 10, 2000	December 16, 2002
Security Type	ADR	ADR

Price Performance

Cumulative Growth

PBR

GSPC

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Metric	PBR	TS
Total Return (1Y)	49.32%	49.29%
Total Return (3Y, Annualized)	19.48%	24.84%
Total Return (5Y, Annualized)	41.67%	22.48%

Risk Profile

Drawdown History

PBR

GSPC

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Metric	PBR	TS
Volatility (1Y, Annualized)	38.67%	29.07%
Beta (5Y)	0.42	0.88
Max Drawdown (5Y)	-35.75%	-33.71%
Avg. Volume (3M)	23.94M	1.24M

Risk-Adjusted Performance

Risk-Return Positioning

PBR and TS are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Metric	PBR	TS
Sharpe Ratio (1Y)	1.16	1.55
Sortino Ratio (1Y)	1.67	2.30

Profitability

ROE (TTM)

Petróleo Brasileiro S.A. (PBR) at 30.27% sits in the top ROE quartile, while Tenaris (TS) at 11.86% is closer to the peer norm — stronger capital efficiency for PBR.

PBR

Energy industry group

30.27%

Max: 53.85%
PBR: 30.27%
Q3: 24.79%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

TS

Energy industry group

11.86%

Max: 53.85%
Q3: 24.79%
Median: 12.85%
TS: 11.86%
Q1: 2.03%
Min: -29.09%

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their ROE against the Energy industry group benchmark.

Net Margin (TTM)

Petróleo Brasileiro S.A. (PBR) at 24.32% retains a top-quartile share of revenue as profit, ahead of Tenaris (TS) at 16.24%, which keeps about the industry-typical share.

PBR

Energy industry group

24.32%

Max: 56.92%
PBR: 24.32%
Q3: 22.92%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

TS

Energy industry group

16.24%

Max: 56.92%
Q3: 22.92%
TS: 16.24%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their net margin against the Energy industry group benchmark.

Operating Margin (TTM)

Petróleo Brasileiro S.A. (PBR) at 44.68% operates in the top operating margin quartile, ahead of Tenaris (TS) at 19.26%, which runs around its industry’s norm.

PBR

Energy industry group

44.68%

Max: 71.31%
PBR: 44.68%
Q3: 33.75%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

TS

Energy industry group

19.26%

Max: 71.31%
Q3: 33.75%
TS: 19.26%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their operating margin against the Energy industry group benchmark.

Profitability Metrics

Profitability metrics for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Metric	PBR	TS
ROE (TTM)	30.27%	11.86%
ROA (TTM)	10.07%	6.69%
Net Margin (TTM)	24.32%	16.24%
Operating Margin (TTM)	44.68%	19.26%
Gross Margin (TTM)	50.60%	38.54%

Growth

Revenue Growth

Both Petróleo Brasileiro S.A. (PBR) at -2.43% and Tenaris (TS) at -4.33% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Petróleo Brasileiro S.A. (PBR) at 160.23% clears its industry range for EPS growth, a much stronger earnings trajectory than Tenaris (TS) at 1.11%, which is closer to a typical peer reading.

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Metric	PBR	TS
Revenue Growth (YoY)	-2.43%	-4.33%
Revenue Growth (3Y CAGR)	-10.51%	0.62%
EPS Growth (YoY)	160.23%	1.11%
EPS Growth (3Y CAGR)	-18.50%	-5.38%

Financial Strength

Current Ratio (MRQ)

Tenaris (TS) at 3.25 carries current ratio above its industry’s typical mid-range, while Petróleo Brasileiro S.A. (PBR) at 0.85 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

PBR

Energy industry group

0.85

Max: 3.64
Q3: 2.21
Median: 1.41
Q1: 0.88
PBR: 0.85
Min: 0.24

TS

Energy industry group

3.25

Max: 3.64
TS: 3.25
Q3: 2.21
Median: 1.41
Q1: 0.88
Min: 0.24

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their current ratio against the Energy industry group benchmark.

Debt / Equity (MRQ)

Tenaris (TS) at 0.03 keeps leverage in the lower industry quartile, while Petróleo Brasileiro S.A. (PBR) at 0.76 runs a more typical debt-to-equity mix.

PBR

Energy industry group

0.76

Max: 1.75
Q3: 0.93
PBR: 0.76
Median: 0.54
Q1: 0.30
Min: 0.00

TS

Energy industry group

0.03

Max: 1.75
Q3: 0.93
Median: 0.54
Q1: 0.30
TS: 0.03
Min: 0.00

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their debt-to-equity ratio against the Energy industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Metric	PBR	TS
Current Ratio (MRQ)	0.85	3.25
Debt / Equity (MRQ)	0.76	0.03
Net Debt / EBITDA	1.29	-0.90

Dividends

Dividend Yield (TTM)

Tenaris (TS) at 2.11% pays an industry-typical yield; Petróleo Brasileiro S.A. (PBR) at 19.51% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

PBR

Energy industry group

19.51%

PBR: 19.51%
Max: 8.57%
Q3: 3.58%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

TS

Energy industry group

2.11%

Max: 8.57%
Q3: 3.58%
TS: 2.11%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their dividend yield against the Energy industry group benchmark.

Dividend Payout Ratio (TTM)

Both Petróleo Brasileiro S.A. (PBR) at 28.93% and Tenaris (TS) at 45.64% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

PBR

Energy industry group

28.93%

Max: 133.24%
Q3: 53.31%
PBR: 28.93%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

TS

Energy industry group

45.64%

Max: 133.24%
Q3: 53.31%
TS: 45.64%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their payout ratio against the Energy industry group benchmark.

Dividend Metrics

Dividend metrics for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Metric	PBR	TS
Dividend Yield (TTM)	19.51%	2.11%
Dividend Payout Ratio (TTM)	28.93%	45.64%

Valuation

P/E Ratio (TTM)

Petróleo Brasileiro S.A. (PBR) at 4.68 sits in the cheaper P/E ratio quartile, while Tenaris (TS) at 15.09 is closer to its industry’s usual earnings multiple — a discount for PBR, though growth and earnings durability still matter.

PBR

Energy industry group

4.68

Max: 39.54
Q3: 21.72
Median: 12.19
Q1: 7.71
PBR: 4.68
Min: 2.99

TS

Energy industry group

15.09

Max: 39.54
Q3: 21.72
TS: 15.09
Median: 12.19
Q1: 7.71
Min: 2.99

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their P/E ratio against the Energy industry group benchmark.

P/S Ratio (TTM)

Petróleo Brasileiro S.A. (PBR) at 0.22 sits in the cheaper P/S ratio quartile while Tenaris (TS) at 2.44 prices around its industry’s middle — PBR costs less per dollar of sales, though read it alongside growth and margins.

PBR

Energy industry group

0.22

Max: 5.40
Q3: 2.85
Median: 1.69
Q1: 0.88
PBR: 0.22
Min: 0.00

TS

Energy industry group

2.44

Max: 5.40
Q3: 2.85
TS: 2.44
Median: 1.69
Q1: 0.88
Min: 0.00

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their P/S ratio against the Energy industry group benchmark.

P/B Ratio (MRQ)

Petróleo Brasileiro S.A. (PBR) at 1.25 is valued about in line with its industry on P/B ratio, while Tenaris (TS) at 3.53 carries an above-peer premium to book — TS is pricier on assets.

PBR

Energy industry group

1.25

Max: 4.21
Q3: 2.38
Median: 1.51
PBR: 1.25
Q1: 1.08
Min: 0.01

TS

Energy industry group

3.53

Max: 4.21
TS: 3.53
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

Petróleo Brasileiro S.A. (PBR) vs. Tenaris (TS): A comparison of their P/B ratio against the Energy industry group benchmark.

Valuation Metrics

Valuation metrics for Petróleo Brasileiro S.A. (PBR) and Tenaris (TS)
Metric	PBR	TS
P/E Ratio (TTM)	4.68	15.09
P/S Ratio (TTM)	0.22	2.44
P/B Ratio (MRQ)	1.25	3.53
Free Cash Flow Yield (TTM)	78.92%	6.50%