FRO vs. TS
FRO (Frontline Ltd.) and TS (Tenaris S.A.) are both stocks. Both are in the Energy sector — FRO in Oil & Gas Midstream, TS in Oil & Gas Equipment & Services. Over the past 10 years, FRO returned 22.58%/yr vs 12.57%/yr for TS. At a 0.36 correlation, their price movements are largely independent.
Performance
FRO vs. TS - Performance Comparison
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Returns By Period
In the year-to-date period, FRO achieves a 63.98% return, which is significantly lower than TS's 69.33% return. Over the past 10 years, FRO has outperformed TS with an annualized return of 22.58%, while TS has yielded a comparatively lower 12.57% annualized return.
FRO
- 1D
- -0.49%
- 1M
- -6.30%
- YTD
- 63.98%
- 6M
- 54.84%
- 1Y
- 104.32%
- 3Y*
- 45.91%
- 5Y*
- 42.40%
- 10Y*
- 22.58%
TS
- 1D
- 1.96%
- 1M
- 2.21%
- YTD
- 69.33%
- 6M
- 63.63%
- 1Y
- 87.08%
- 3Y*
- 38.28%
- 5Y*
- 26.22%
- 10Y*
- 12.57%
FRO vs. TS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRO Frontline Ltd. | 63.98% | 61.17% | -22.48% | 96.23% | 73.67% | 13.67% | -41.47% | 134.59% | 20.48% | -32.17% |
TS Tenaris S.A. | 69.33% | 4.98% | 12.88% | 2.63% | 73.26% | 34.03% | -28.87% | 9.68% | -31.51% | -6.68% |
Correlation
The correlation between FRO and TS is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2002 | 0.36 |
Over the past year, the correlation between FRO and TS has dropped to 0.14 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
Fundamentals
FRO:
$7.72B
TS:
$15.98B
FRO:
$4.06
TS:
$4.26
FRO:
8.53
TS:
14.99
FRO:
3.43
TS:
2.43
FRO:
2.72
TS:
0.94
FRO:
$2.25B
TS:
$12.16B
FRO:
$933.72M
TS:
$3.89B
FRO:
$1.21B
TS:
$3.16B
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Return for Risk
FRO vs. TS — Risk / Return Rank
FRO
TS
FRO vs. TS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Frontline Ltd. (FRO) and Tenaris S.A. (TS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FRO | TS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.50 | 3.11 | -0.61 |
Sortino ratioReturn per unit of downside risk | 3.07 | 3.75 | -0.68 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.49 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 4.79 | 7.34 | -2.55 |
Martin ratioReturn relative to average drawdown | 13.21 | 19.88 | -6.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRO | TS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 3.11 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.78 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.34 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.41 | -0.30 |
Drawdowns
FRO vs. TS - Drawdown Comparison
The maximum FRO drawdown since its inception was -98.36%, which is greater than TS's maximum drawdown of -83.34%. Use the drawdown chart below to compare losses from any high point for FRO and TS.
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Drawdown Indicators
| FRO | TS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.36% | -83.34% | -15.02% |
Max Drawdown (1Y)Largest decline over 1 year | -21.41% | -13.28% | -8.13% |
Max Drawdown (3Y)Largest decline over 3 years | -52.04% | -29.81% | -22.23% |
Max Drawdown (5Y)Largest decline over 5 years | -52.04% | -33.71% | -18.33% |
Max Drawdown (10Y)Largest decline over 10 years | -57.14% | -76.21% | +19.07% |
Current DrawdownCurrent decline from peak | -74.46% | 0.00% | -74.46% |
Average DrawdownAverage peak-to-trough decline | -67.84% | -36.82% | -31.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.76% | 4.91% | +2.85% |
Volatility
FRO vs. TS - Volatility Comparison
Frontline Ltd. (FRO) and Tenaris S.A. (TS) have volatilities of 10.53% and 10.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRO | TS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.53% | 10.13% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 30.79% | 20.82% | +9.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.98% | 28.65% | +13.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.35% | 33.60% | +15.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.17% | 36.87% | +14.30% |
Dividends
FRO vs. TS - Dividend Comparison
FRO's dividend yield for the trailing twelve months is around 5.07%, more than TS's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRO Frontline Ltd. | 5.07% | 4.26% | 13.74% | 14.31% | 1.24% | 0.00% | 25.72% | 0.78% | 0.00% | 6.54% | 19.83% | 1.67% |
TS Tenaris S.A. | 2.79% | 2.96% | 3.55% | 3.11% | 2.56% | 2.59% | 0.88% | 3.62% | 3.85% | 4.39% | 2.41% | 3.78% |
Financials
FRO vs. TS - Financials Comparison
This section allows you to compare key financial metrics between Frontline Ltd. and Tenaris S.A.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FRO vs. TS - Profitability Comparison
FRO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported a gross profit of 395.96M and revenue of 714.24M. Therefore, the gross margin over that period was 55.4%.
TS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tenaris S.A. reported a gross profit of 1.05B and revenue of 3.11B. Therefore, the gross margin over that period was 33.9%.
FRO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported an operating income of 370.04M and revenue of 714.24M, resulting in an operating margin of 51.8%.
TS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tenaris S.A. reported an operating income of 585.67M and revenue of 3.11B, resulting in an operating margin of 18.8%.
FRO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Frontline Ltd. reported a net income of 559.12M and revenue of 714.24M, resulting in a net margin of 78.3%.
TS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tenaris S.A. reported a net income of 542.67M and revenue of 3.11B, resulting in a net margin of 17.4%.
Frequently Asked Questions
FRO and TS have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRO has higher volatility (10.53%) compared to TS (10.13%). In terms of maximum drawdown, FRO dropped -98.36% vs TS's -83.34%.
TS currently has the higher Sharpe Ratio (3.11 vs 2.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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