COMP <GO>
TS vs STLD // 10Y YIELD & FRED MACRO BETA
Tenaris S.A. (NYSE) VS. Steel Dynamics Inc. (NASDAQ) • 15-METRIC TALLY: TS 7
— STLD 6
▲ 10Y YIELD & FRED MACRO BETA LEADER: TS
LAST: $60.31 (-1.63%) • MKT CAP: $32.46B
macro-sensitivity
1.03
LAST: $250.80 (-1.08%) • MKT CAP: $36.06B
macro-sensitivity
0.87
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (TS VS. STLD)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | TS | STLD | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | 13.20% | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 9.90% | 9.40% | +0.50 | TS | /roic <GO> |
| EV/EBITDA & P/E Valuation | 21.0x | 17.3x | +3.70 | STLD | /valuation <GO> |
| Free Cash Flow Yield | 2.21% | 1.39% | +0.82 | TS | /fcf-yield <GO> |
| Operating Margin | 13.90% | 8.10% | +5.80 | TS | /operating-margins <GO> |
| Net Profit Margin | 10.90% | 6.50% | +4.40 | TS | /net-margins <GO> |
| Revenue Growth (YoY) | 2.20% | 3.60% | -1.40 | STLD | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.81% | -0.81 | STLD | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 3.74 | 5.95 | -2.21 | STLD | /balance-sheet <GO> |
| Piotroski F-Score Quality | 7/9 | 6/9 | +1.00 | TS | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 62.3 | 61.4 | +0.90 | TS | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta ACTIVE | 1.03 | 0.87 | +0.16 | TS | /macro-sensitivity <GO> |
| Forward P/E Multiple | 30.5x | 28.3x | +2.20 | STLD | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $32.46B | $36.06B | -$3.60B | STLD | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | TS REV | STLD REV | TS GROSS % | STLD GROSS % | TS FCF | STLD FCF |
|---|---|---|---|---|---|---|
| FY 2025 | — | $18.18B | — | 13.2% | — | $501.5M |
| FY 2024 | — | $17.54B | — | 16.0% | — | -$23.5M |
| FY 2023 | — | $18.80B | — | — | — | $2.67B |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
TS // BETA 1.03
STLD // BETA 0.87