Tenaris SA ADR (TS) is undervalued and Weatherford International plc (WFRD) is slightly undervalued.
Against our estimates of intrinsic value, TS trades at the wider discount: a margin of safety of +29%, against +11% for WFRD.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.4% (average of 3 methods) values the shares at $78.52; the price of $55.42 is 29% below that value, and 76% of that value comes from beyond year five.
Leak Score 84/100 on 3 of 12 signals
Discounting its cash flows at 9.1% (average of 3 methods) values the shares at $94.23; the price of $84.00 is 11% below that value, and 76% of that value comes from beyond year five.
Leak Score 65/100 on 3 of 12 signals
| Metric | TS | WFRD |
|---|---|---|
| Verdict | Undervalued | Slightly undervalued |
| Price | $55.42 | $84.00 |
| Intrinsic value | $78.52 | $94.23 |
| Margin of safety | +29% | +11% |
| Leak Score | 84/100 (3/12) | 65/100 (3/12) |
| Market cap | $29.7B | $6.1B |
| Revenue growth, 5 years | 18.3% | 5.9% |
| Operating margin | 18.8% | 14.4% |
| Net margin | 15.9% | 7.7% |
| Return on equity | 11.4% | 22.2% |
| Debt to equity | 0.03 | 0.91 |
| P/E | 14.8x | 16.6x |
| Forward P/E | 13.2x | 11.8x |
| P/B | 1.6x | 3.4x |
| Dividend yield | 4.0% | 1.3% |