TS vs. IMO
TS (Tenaris S.A.) and IMO (Imperial Oil Limited) are both stocks. Both are in the Energy sector — TS in Oil & Gas Equipment & Services, IMO in Oil & Gas Integrated. Over the past 10 years, TS returned 12.60%/yr vs 17.58%/yr for IMO. A 0.57 correlation means they provide meaningful diversification when combined.
Performance
TS vs. IMO - Performance Comparison
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Returns By Period
In the year-to-date period, TS achieves a 69.78% return, which is significantly higher than IMO's 47.08% return. Over the past 10 years, TS has underperformed IMO with an annualized return of 12.60%, while IMO has yielded a comparatively higher 17.58% annualized return.
TS
- 1D
- 0.27%
- 1M
- 4.79%
- YTD
- 69.78%
- 6M
- 58.61%
- 1Y
- 87.79%
- 3Y*
- 38.40%
- 5Y*
- 26.28%
- 10Y*
- 12.60%
IMO
- 1D
- 1.49%
- 1M
- -3.22%
- YTD
- 47.08%
- 6M
- 31.96%
- 1Y
- 75.73%
- 3Y*
- 41.39%
- 5Y*
- 33.20%
- 10Y*
- 17.58%
TS vs. IMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TS Tenaris S.A. | 69.78% | 4.98% | 12.88% | 2.63% | 73.26% | 34.03% | -28.87% | 9.68% | -31.51% | -6.68% |
IMO Imperial Oil Limited | 47.08% | 43.85% | 10.47% | 20.89% | 38.00% | 95.29% | -25.37% | 7.16% | -17.21% | -8.36% |
Correlation
The correlation between TS and IMO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2002 | 0.57 |
The correlation between TS and IMO shifts across timeframes, from 0.43 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
TS:
$16.03B
IMO:
$61.22B
TS:
$4.26
IMO:
$5.87
TS:
15.03
IMO:
21.51
TS:
0.41
IMO:
0.47
TS:
2.43
IMO:
1.35
TS:
0.94
IMO:
2.69
TS:
$12.16B
IMO:
$46.55B
TS:
$3.89B
IMO:
$7.69B
TS:
$3.16B
IMO:
$6.36B
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Return for Risk
TS vs. IMO — Risk / Return Rank
TS
IMO
TS vs. IMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tenaris S.A. (TS) and Imperial Oil Limited (IMO). 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.
| TS | IMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.42 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 6.65 | 4.61 | +2.03 |
| Martin ratioReturn relative to average drawdown | 17.98 | 14.21 | +3.77 |
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
| TS | IMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.14 | 2.81 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 1.02 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.50 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.44 | -0.03 |
Drawdowns
TS vs. IMO - Drawdown Comparison
The maximum TS drawdown since its inception was -83.34%, roughly equal to the maximum IMO drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for TS and IMO.
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Drawdown Indicators
| TS | IMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.34% | -84.82% | +1.48% |
Max Drawdown (1Y)Largest decline over 1 year | -13.28% | -16.51% | +3.23% |
Max Drawdown (3Y)Largest decline over 3 years | -29.81% | -22.95% | -6.86% |
Max Drawdown (5Y)Largest decline over 5 years | -33.71% | -29.72% | -3.99% |
Max Drawdown (10Y)Largest decline over 10 years | -76.21% | -76.96% | +0.75% |
Current DrawdownCurrent decline from peak | 0.00% | -8.72% | +8.72% |
Average DrawdownAverage peak-to-trough decline | -36.81% | -21.19% | -15.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.91% | 5.35% | -0.44% |
Volatility
TS vs. IMO - Volatility Comparison
The current volatility for Tenaris S.A. (TS) is 9.84%, while Imperial Oil Limited (IMO) has a volatility of 10.45%. This indicates that TS experiences smaller price fluctuations and is considered to be less risky than IMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TS | IMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.84% | 10.45% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 20.82% | 22.22% | -1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.15% | 27.08% | +1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.59% | 32.61% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.86% | 35.56% | +1.30% |
Dividends
TS vs. IMO - Dividend Comparison
TS's dividend yield for the trailing twelve months is around 2.78%, more than IMO's 1.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMO Imperial Oil Limited | 1.75% | 2.40% | 2.84% | 2.73% | 2.30% | 2.28% | 3.50% | 2.41% | 2.36% | 2.02% | 1.70% | 1.66% |
TS Tenaris S.A. | 2.78% | 2.96% | 3.55% | 3.11% | 2.56% | 2.59% | 0.88% | 3.62% | 3.85% | 4.39% | 2.41% | 3.78% |
Financials
TS vs. IMO - Financials Comparison
This section allows you to compare key financial metrics between Tenaris S.A. and Imperial Oil Limited. 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
TS vs. IMO - Profitability Comparison
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%.
IMO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Imperial Oil Limited reported a gross profit of 2.51B and revenue of 12.45B. Therefore, the gross margin over that period was 20.2%.
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%.
IMO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Imperial Oil Limited reported an operating income of 1.23B and revenue of 12.45B, resulting in an operating margin of 9.9%.
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%.
IMO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Imperial Oil Limited reported a net income of 940.00M and revenue of 12.45B, resulting in a net margin of 7.6%.
Frequently Asked Questions
TS and IMO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMO has higher volatility (10.45%) compared to TS (9.84%). In terms of maximum drawdown, TS dropped -83.34% vs IMO's -84.82%.
TS currently has the higher Sharpe Ratio (3.14 vs 2.81), 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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