NYSE : TNC
Tennant Company — Financial statements
Industrials · Specialty Industrial Machinery · United States
Last price 66.64 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.14B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Tennant Company (TNC) reported revenue of 1.22B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.22B | 1.20B | 1.29B | 1.24B | 1.09B | 1.09B |
| Cost of Revenue | 745.10M | 719.20M | 736.70M | 715.80M | 671.30M | 652.80M |
| Gross Profit | 471.70M | 484.30M | 550.00M | 527.80M | 420.90M | 438.00M |
| Selling, General & Admin | 381.00M | 368.40M | 383.70M | 352.60M | 306.30M | 321.90M |
| Research & Development | 44.80M | 41.20M | 43.80M | 36.60M | 31.10M | 32.20M |
| Operating Expenses | 425.80M | 409.60M | 427.50M | 389.20M | 337.40M | 354.10M |
| Operating Income | 45.90M | 74.70M | 122.50M | 138.60M | 83.50M | 83.90M |
| Interest Expense | -16.00M | -12.60M | -13.60M | -13.50M | -7.10M | -7.30M |
| Interest & Investment Income | 3.80M | 3.60M | 4.50M | |||
| Currency Exchange Gain (Loss) | -1.40M | -1.70M | 100.00K | 300.00K | -1.20M | -700.00K |
| Other Non Operating Income (Expenses) | -700.00K | 300.00K | -500.00K | -1.60M | 600.00K | -300.00K |
| EBT Excluding Unusual Items | 31.60M | 64.30M | 113.00M | 123.80M | 75.80M | 75.60M |
| Merger & Restructuring Charges | -7.00M | -6.40M | -8.20M | |||
| Gain (Loss) on Sale of Assets | 3.70M | 9.80M | ||||
| Other Unusual Items | -11.30M | |||||
| Pretax Income | 24.60M | 57.90M | 104.80M | 123.80M | 79.50M | 74.10M |
| Income Tax Expense | 6.30M | 14.10M | 21.10M | 14.30M | 13.20M | 9.20M |
| Earnings From Continuing Operations | 18.30M | 43.80M | 83.70M | 109.50M | 66.30M | 64.90M |
| Net Income | 18.30M | 43.80M | 83.70M | 109.50M | 66.30M | 64.90M |
| Net Income to Common | 18.30M | 43.80M | 83.70M | 109.50M | 66.30M | 64.90M |
| Shares Outstanding (Basic) | 17.68M | 18.37M | 18.79M | 18.51M | 18.49M | 18.50M |
| Shares Outstanding (Diluted) | 17.90M | 18.58M | 19.10M | 18.78M | 18.70M | 18.85M |
| EPS (Basic) | 1.04 | 2.38 | 4.46 | 5.92 | 3.58 | 3.51 |
| EPS (Diluted) | 1.03 | 2.36 | 4.38 | 5.83 | 3.55 | 3.44 |
| Free Cash Flow | -3.10M | 42.90M | 68.30M | 164.40M | -54.40M | 46.30M |
| Free Cash Flow Per Share | -0.17 | 2.31 | 3.58 | 8.75 | -2.91 | 2.46 |
| Dividend Per Share | 1.23 | 1.20 | 1.14 | 1.07 | 1.01 | 0.94 |
| Gross Margin | 38.77% | 40.24% | 42.74% | 42.44% | 38.54% | 40.15% |
| Operating Margin | 3.77% | 6.21% | 9.52% | 11.14% | 7.65% | 7.69% |
| Profit Margin | 1.50% | 3.64% | 6.50% | 8.80% | 6.07% | 5.95% |
| Free Cash Flow Margin | -0.26% | 3.56% | 5.31% | 13.22% | -4.98% | 4.25% |
| EBITDA | 105.80M | 133.40M | 177.60M | 189.70M | 132.20M | 137.00M |
| EBITDA Margin | 8.70% | 11.08% | 13.80% | 15.25% | 12.10% | 12.56% |
| D&A For EBITDA | 59.90M | 58.70M | 55.10M | 51.10M | 48.70M | 53.10M |
| EBIT | 45.90M | 74.70M | 122.50M | 138.60M | 83.50M | 83.90M |
| EBIT Margin | 3.77% | 6.21% | 9.52% | 11.14% | 7.65% | 7.69% |
| Effective Tax Rate | 25.61% | 24.35% | 20.13% | 11.55% | 16.60% | 12.42% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 76.90M | 106.40M | 99.80M | 117.10M | 77.40M | 123.60M |
| Trading Asset Securities | 500.00K | 100.00K | 800.00K | 800.00K | ||
| Cash & Short-Term Investments | 77.40M | 106.40M | 99.90M | 117.90M | 78.20M | 123.60M |
| Accounts Receivable | 286.30M | 256.80M | 259.10M | 247.60M | 251.50M | 211.40M |
| Receivables | 286.30M | 256.80M | 259.10M | 247.60M | 251.50M | 211.40M |
| Inventory | 201.90M | 198.50M | 183.80M | 175.90M | 206.60M | 160.60M |
| Prepaid Expenses | 46.70M | 35.30M | 30.30M | 25.20M | 36.30M | 30.90M |
| Other Current Assets | 1.50M | 2.70M | 3.50M | 2.50M | 2.70M | 300.00K |
| Total Current Assets | 613.80M | 599.70M | 576.60M | 569.10M | 575.30M | 526.80M |
| Property, Plant & Equipment | 242.10M | 246.70M | 239.00M | 229.40M | 211.70M | 214.10M |
| Goodwill | 208.30M | 208.60M | 185.60M | 187.40M | 182.00M | 193.10M |
| Other Intangible Assets | 48.60M | 52.60M | 58.70M | 63.10M | 76.40M | 98.00M |
| Other Long-Term Assets | 138.50M | 161.30M | 130.20M | 64.40M | 39.70M | 29.70M |
| Total Assets | 1.27B | 1.27B | 1.19B | 1.11B | 1.09B | 1.06B |
| Accounts Payable | 112.90M | 127.50M | 126.90M | 111.40M | 126.10M | 121.50M |
| Accrued Expenses | 59.20M | 94.50M | 99.80M | 110.90M | 88.10M | 101.00M |
| Short-Term Debt | 800.00K | |||||
| Current Portion of Long-Term Debt | 500.00K | 6.40M | 5.20M | 4.10M | ||
| Current Portion of Leases | 500.00K | 22.10M | 18.50M | 14.40M | 15.00M | 16.50M |
| Current Income Taxes Payable | 18.50M | 20.50M | 11.30M | 11.10M | 13.80M | |
| Current Unearned Revenue | 16.00M | 16.60M | 9.80M | 7.90M | 6.60M | 7.70M |
| Other Current Liabilities | 111.60M | 13.90M | 15.40M | 11.40M | 9.50M | 25.70M |
| Total Current Liabilities | 300.20M | 293.10M | 292.20M | 273.70M | 261.60M | 290.30M |
| Long-Term Debt | 357.50M | 272.90M | 197.20M | 195.50M | 296.80M | 263.40M |
| Long-Term Leases | 33.30M | 36.20M | 37.50M | 28.00M | 17.20M | 25.40M |
| Long-Term Unearned Revenue | 13.60M | 15.80M | 10.80M | 2.40M | 2.70M | 3.50M |
| Pension & Post-Retirement Benefits | 16.00M | 15.70M | 13.50M | 13.30M | 13.20M | 16.30M |
| Long-Term Deferred Tax Liabilities | 3.90M | 3.30M | 4.90M | 5.00M | 11.50M | 20.60M |
| Other Long-Term Liabilities | 11.10M | 28.50M | 11.90M | 17.20M | 10.00M | 7.10M |
| Total Liabilities | 735.60M | 665.50M | 568.00M | 535.10M | 613.00M | 626.60M |
| Common Stock | 6.40M | 6.70M | 7.10M | 7.00M | 7.00M | 7.00M |
| Additional Paid-In Capital | 1.30M | 76.70M | 64.90M | 56.00M | 54.10M | |
| Retained Earnings | 564.40M | 628.10M | 609.70M | 547.40M | 458.00M | 410.60M |
| Comprehensive Income & Other | -38.70M | -33.20M | -72.70M | -42.30M | -50.20M | -37.90M |
| Total Common Equity | 533.40M | 601.60M | 620.80M | 577.00M | 470.80M | 433.80M |
| Minority Interest | 1.80M | 1.80M | 1.30M | 1.30M | 1.30M | 1.30M |
| Shareholders' Equity | 535.20M | 603.40M | 622.10M | 578.30M | 472.10M | 435.10M |
| Total Liabilities & Equity | 1.27B | 1.27B | 1.19B | 1.11B | 1.09B | 1.06B |
| Total Debt | 391.30M | 331.20M | 254.50M | 244.30M | 334.20M | 309.40M |
| Net Cash (Debt) | -313.90M | -224.80M | -154.60M | -126.40M | -256.00M | -185.80M |
| Net Cash Per Share | -17.54 | -12.10 | -8.10 | -6.73 | -13.69 | -9.86 |
| Filing Date Shares Outstanding | 17.05M | 17.85M | 18.82M | 18.62M | 18.52M | 18.53M |
| Total Common Shares Outstanding | 17.05M | 17.85M | 18.85M | 18.63M | 18.52M | 18.54M |
| Working Capital | 313.60M | 306.60M | 284.40M | 295.40M | 313.70M | 236.50M |
| Book Value Per Share | 31.29 | 33.71 | 32.93 | 30.97 | 25.42 | 23.40 |
| Tangible Book Value | 276.50M | 340.40M | 376.50M | 326.50M | 212.40M | 142.70M |
| Tangible Book Value Per Share | 16.22 | 19.07 | 19.97 | 17.52 | 11.47 | 7.70 |
| Land | 27.90M | 24.10M | 21.00M | 22.00M | 21.70M | |
| Buildings | 144.00M | 134.10M | 137.60M | 149.00M | 125.70M | |
| Machinery | 302.60M | 332.60M | 325.50M | 278.80M | 277.80M | |
| Construction In Progress | 4.30M | 4.50M | 7.60M | 9.40M | 6.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 18.30M | 43.80M | 83.70M | 109.50M | 66.30M | 64.90M |
| Depreciation & Amortization | 59.90M | 58.70M | 55.10M | 51.10M | 48.70M | 53.10M |
| Loss (Gain) From Sale of Assets | -3.70M | -9.80M | ||||
| Stock-Based Compensation | 8.20M | 10.40M | 11.90M | 11.60M | 7.80M | 9.50M |
| Provision & Write-off of Bad Debts | 5.00M | 7.10M | 3.40M | 3.40M | 2.30M | 1.50M |
| Other Operating Activities | 9.70M | 5.50M | -9.20M | -25.60M | -14.60M | -1.40M |
| Change in Accounts Receivable | -24.60M | 4.10M | -15.00M | 4.10M | -46.30M | -20.30M |
| Change in Inventory | -31.70M | -21.70M | -33.00M | 14.30M | -68.30M | -56.00M |
| Change in Accounts Payable | -8.40M | -1.90M | 15.40M | -15.30M | 7.70M | 19.10M |
| Change in Other Net Operating Assets | -20.20M | -41.00M | -22.60M | 35.30M | -25.00M | 8.80M |
| Operating Cash Flow | 16.70M | 65.00M | 89.70M | 188.40M | -25.10M | 69.40M |
| Capital Expenditures | -19.80M | -22.10M | -21.40M | -24.00M | -29.30M | -23.10M |
| Sale of Property, Plant & Equipment | 2.70M | 2.60M | 800.00K | 800.00K | 600.00K | |
| Cash Acquisitions | -10.40M | -3.20M | -25.70M | |||
| Divestitures | 4.10M | 24.70M | ||||
| Investment in Securities | -32.10M | |||||
| Other Investing Activities | 100.00K | 100.00K | ||||
| Investing Cash Flow | -27.50M | -22.70M | -78.40M | -23.20M | -24.50M | 1.70M |
| Long-Term Debt Issued | 85.00M | 40.90M | 20.20M | 52.00M | 315.90M | |
| Long-Term Debt Repaid | -10.80M | -42.50M | -120.00M | -19.10M | -362.00M | |
| Net Debt Issued (Repaid) | 145.00M | 74.20M | -1.60M | -99.80M | 32.90M | -46.10M |
| Issuance of Common Stock | 19.60M | 19.00M | 5.00M | |||
| Repurchase of Common Stock | -117.80M | -91.00M | -19.60M | -21.70M | -5.90M | -15.00M |
| Common Dividends Paid | -21.70M | -21.90M | -21.40M | -20.10M | -18.90M | -17.50M |
| Other Financing Activities | -2.20M | -10.90M | ||||
| Financing Cash Flow | 5.50M | -38.70M | -25.20M | -122.60M | 8.10M | -84.50M |
| Foreign Exchange Rate Adjustments | 2.10M | 3.00M | -3.40M | -2.90M | -4.70M | -4.00M |
| Net Cash Flow | -3.20M | 6.60M | -17.30M | 39.70M | -46.20M | -17.40M |
| Free Cash Flow | -3.10M | 42.90M | 68.30M | 164.40M | -54.40M | 46.30M |
| Free Cash Flow Margin | -0.26% | 3.56% | 5.31% | 13.22% | -4.98% | 4.25% |
| Free Cash Flow Per Share | -0.17 | 2.31 | 3.58 | 8.75 | -2.91 | 2.46 |
| Levered Free Cash Flow | 50.69M | 67.81M | 107.66M | 174.29M | -47.25M | 79.38M |
| Unlevered Free Cash Flow | 60.69M | 75.69M | 116.16M | 182.72M | -42.81M | 83.94M |
| Cash Interest Paid | 15.40M | 12.30M | 13.60M | 17.10M | 7.60M | 11.70M |
| Cash Income Tax Paid | 6.40M | 13.40M | 30.20M | 39.50M | 34.10M | 19.50M |
| Change in Working Capital | -84.90M | -60.50M | -55.20M | 38.40M | -131.90M | -48.40M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.18B | 1.34B | 1.54B | 1.73B | 1.14B | 1.50B |
| Enterprise Value | 1.49B | 1.51B | 1.69B | 1.87B | 1.39B | 1.66B |
| Last Close Price | 66.44 | 72.75 | 79.26 | 89.09 | 58.37 | 75.65 |
| PE Ratio | 67.41 | 30.50 | 18.38 | 15.81 | 17.27 | 23.15 |
| Forward PE | 14.08 | 11.31 | 13.50 | 15.90 | 13.52 | 24.82 |
| PS Ratio | 0.96 | 1.11 | 1.20 | 1.39 | 1.05 | 1.38 |
| PB Ratio | 2.12 | 2.21 | 2.47 | 2.99 | 2.42 | 3.45 |
| P/TBV Ratio | 4.21 | 3.92 | 4.09 | 5.30 | 5.39 | 10.53 |
| P/FCF Ratio | 31.14 | 22.53 | 10.53 | 32.44 | ||
| P/OCF Ratio | 69.77 | 20.55 | 17.15 | 9.19 | 21.64 | |
| PEG Ratio | 0.77 | 1.41 | 1.69 | 1.99 | 1.75 | 2.92 |
| EV/Sales Ratio | 1.22 | 1.26 | 1.32 | 1.51 | 1.27 | 1.52 |
| EV/EBITDA Ratio | 13.98 | 11.34 | 9.54 | 9.88 | 10.48 | 12.10 |
| EV/EBIT Ratio | 32.22 | 20.24 | 13.84 | 13.53 | 16.60 | 19.76 |
| EV/FCF Ratio | 35.25 | 24.81 | 11.40 | 35.80 | ||
| Debt / Equity Ratio | 0.73 | 0.55 | 0.41 | 0.42 | 0.71 | 0.71 |
| Debt / EBITDA Ratio | 2.83 | 2.01 | 1.23 | 1.12 | 2.11 | 1.89 |
| Debt / FCF Ratio | 7.72 | 3.73 | 1.49 | 6.68 | ||
| Net Debt / Equity Ratio | 0.59 | 0.37 | 0.25 | 0.22 | 0.54 | 0.43 |
| Net Debt / EBITDA Ratio | 2.97 | 1.69 | 0.87 | 0.67 | 1.94 | 1.36 |
| Net Debt / FCF Ratio | -101.26 | 5.24 | 2.26 | 0.77 | -4.71 | 4.01 |
| Asset Turnover | 0.97 | 0.98 | 1.12 | 1.13 | 1.02 | 1.02 |
| Inventory Turnover | 3.75 | 3.76 | 4.10 | 3.74 | 3.66 | 4.53 |
| Quick Ratio | 1.21 | 1.24 | 1.23 | 1.33 | 1.26 | 1.15 |
| Current Ratio | 2.04 | 2.05 | 1.97 | 2.08 | 2.20 | 1.81 |
| Return on Equity (ROE) | 3.08% | 7.15% | 13.94% | 20.85% | 14.62% | 15.43% |
| Return on Assets (ROA) | 2.28% | 3.80% | 6.65% | 7.88% | 4.86% | 4.89% |
| Return on Invested Capital (ROIC) | 4.04% | 7.04% | 13.21% | 17.11% | 10.32% | 11.86% |
| Return on Capital Employed (ROCE) | 4.70% | 7.70% | 13.60% | 16.50% | 10.10% | 10.90% |
| Earnings Yield | 1.48% | 3.28% | 5.44% | 6.32% | 5.79% | 4.32% |
| FCF Yield | -0.27% | 3.21% | 4.44% | 9.50% | -4.75% | 3.08% |
| Dividend Yield | 1.79% | 1.60% | 1.39% | 1.16% | 1.64% | 1.16% |
| Payout Ratio | 120.67% | 50.00% | 25.57% | 18.36% | 28.51% | 26.96% |
| Buyback Yield / Dilution | 5.48% | 2.70% | -1.66% | -0.46% | 0.81% | -1.15% |
| Total Shareholder Return | 7.29% | 4.30% | -0.27% | 0.69% | 2.45% | 0.01% |