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  2. •

    Non-energy minerals

  3. •

    Steel
Tubacex, S.A.

Tubacex, S.A.

2.73
EUR
+0.00
(-0.18%)
-0.33EPS
424.57MMarket Cap
Tubacex, S.A.
GETTEX:TCX
(Gettex)

Recent

price

2.73

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
EUR
2.79
3.75
4.1
4.27
4.21
4.11
3.81
3.78
4.79
4.73
3.61
2.78
5.92
7.06
6.31
5.86
5.53
Revenue per Share
-0.05
0.03
0.09
0.12
0.18
0.06
- -
-0.15
0.13
0.09
-0.2
-0.26
0.17
0.3
0.19
-0.25
-0.37
Basic EPS, GAAP
-0.58
-0.17
-0.27
0.53
0.34
0.27
0.1
-0.26
-0.35
0.15
-0.26
-0.41
0.5
0.23
-1.13
-0.65
- -
Free Cash Flow per Basic Share
- -
- -
- -
0.05
0.02
0.07
0.03
- -
- -
0.05
- -
- -
- -
0.07
0.12
0.2
- -
Dividend per Share
1.82
1.84
1.94
2
2.17
2.22
2.21
1.98
2.11
2.22
1.92
1.6
1.83
1.99
3.11
2.36
2.3
Book Value per Share
1.55
1.57
1.67
1.73
1.89
1.69
1.66
1.58
1.71
1.43
1
0.68
0.89
1.06
2.14
1.43
1.42
Tangible Book Value per Share
130
130
130
130
130
130
130
130
130
130
128
123
121
121
122
123
123
Basic Weighted Avg Shares
362
487
532
554
547
533
494
490
622
614
461
342
715
852
768
719
681
Sales/Revenue/Turnover
-1.62
1.34
4.99
5.69
7.99
-0.07
0.51
-5.76
5.54
1.6
-5.1
-9.1
6.22
9.47
8.28
1.24
-2.28
Operating Margin (%)
19
21
19
20
20
33
32
54
35
44
50
45
48
44
43
66
68
Depreciation Expense
-6
4
12
15
24
8
1
-20
17
11
-25
-32
20
36
23
-31
-46
Net Income, GAAP
- -
- -
7.92
11.89
28.76
- -
- -
- -
12.37
- -
- -
- -
14.32
13.64
15.84
- -
- -
Effective Tax Rate (%)
-1.65
0.75
2.23
2.71
4.35
1.58
0.1
-4.02
2.79
1.82
-5.49
-9.42
2.83
4.26
2.98
-4.35
-6.78
Profit Margin (%)
70
65
166
109
161
139
119
- -
81
71
112
105
35
-18
167
121
121
Working Capital
44
46
145
101
128
173
168
82
140
175
265
289
185
154
194
204
208
LT Debt
238
239
252
263
285
317
314
282
300
336
298
249
276
294
482
394
397
Total Equity
- -
- -
4.6
5.29
5.91
- -
- -
- -
4.17
- -
- -
- -
4.83
8.67
5.82
- -
- -
Return on Invested Capital (%)
- -
- -
4.74
5.36
6.43
- -
- -
- -
4.37
- -
- -
- -
4.74
7.41
5.78
- -
- -
Return on Capital (%)
-2.5
1.54
4.84
5.87
8.77
2.95
0.18
-7.25
6.54
3.97
-9.58
-14.7
9.66
15.74
7.4
-9.33
-14.7
Return on Common Equity (%)

Capital Structure

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
326
267
301
LT Borrowings
177
230
183
LT Finance Leases
27
- -
25
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
124
124
127
Market Capitalization
405
351
425

Working Capital

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
664
686
655
Cash, Cash Equivalents & STI
157
158
121
Accounts Receivable, Net
83
81
105
Inventories
395
413
401
Total Current Liabilities
543
505
534
Payables & Accruals
- -
- -
- -
ST Debt
326
267
301
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.25%
9.32%
-18.26%
Free Cash Flow
-165.41%
-170.82%
-42.27%
Net Income, GAAP
-496.25%
-65.98%
-236.86%
Sales/Revenue/Turnover
7.87%
17.26%
-6.29%
Total Cash Common Dividend
- -
- -
72.43%

Quarterly Revenue

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
187
211
171
227
768
2025
182
179
164
193
719
2026
154
169
- -
- -
- -

Quarterly Earnings Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.01
0.06
-0.01
0.19
2025
0.06
0.04
0.01
-0.39
-0.25
2026
0.01
-0.01
- -
- -
- -

Quarterly Dividends Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.12
2025
- -
- -
- -
- -
0.2
2026
- -
- -
- -
- -
- -
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Business
Tubacex, S.A. (TUB.MC) manufactures and markets seamless stainless steel tubes, high-nickel alloy tubes, and corrosion-resistant alloy (CRA) OCTG products including premium Sentinel Prime connections; it also produces hollow bars, billets, bends, fittings, and accessories, complemented by advanced machining, threading, pipe finishing, and high-value-added services such as design, installation, and maintenance. The company operates a vertically integrated production chain encompassing metallurgy research and development, steelmaking, hot extrusion, cold rolling, and mechanical drilling, serving the energy sector with solutions for oil and gas exploration and production, refining, petrochemicals, power generation, low-carbon technologies including hydrogen, carbon capture utilization and storage (CCUS), and nuclear; additional segments encompass aerospace, fertilizers, hydrocarbon processing, mobility, mechanical industries, desalination, electronics, and capital goods. Tubacex maintains industrial facilities and service centers across more than 30 countries, including Spain, Austria, the United States, Italy, India, Thailand, Norway, and the United Arab Emirates, with primary manufacturing and commercial presence supporting global customers in conventional and transition energy markets. Founded in 1963 and headquartered in Llodio, Álava, Spain, the company lists on the Spanish stock exchange since 1970 and pursues its NT2 2027 strategic plan targeting €1.2-1.4 billion in revenue, over €200 million in EBITDA, and reduced cyclicality through diversified high-value segments. Recent developments include a 2024 strategic partnership with UAE's Mubadala Investment Company, which acquired a 49% stake in the OCTG business for $150-200 million and supports a new pipe finishing and threading plant in Abu Dhabi now operational; a €1 billion, 10-year supply contract with ADNOC generating €150-200 million annually; licensing of Sentinel Prime connection technology to ADNOC; a major Petrobras order recognizing Tubacex as Best Supplier in OCTG; and celebration of five years for its TSS Norway hub enhancing North Sea operations, alongside robust Q1 2025 financials aligning with growth amid global challenges.