Tennant (TNC) Financials

$74.55 +1.08 (+1.47%)

Closing price 03:59 PM Eastern

Extended Trading

$74.54 -0.02 (-0.02%)

As of 04:04 PM Eastern

Annual Income Statements for Tennant

This table shows Tennant's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	84	110	66	65	34	46	33	-6.20	47	32	51
Consolidated Net Income / (Loss)	84	110	66	65	34	46	34	-6.20	47	32	51
Net Income / (Loss) Continuing Operations	84	110	66	65	34	46	34	-6.20	47	32	51
Total Pre-Tax Income	105	124	80	74	41	54	36	-1.30	66	50	70
Total Operating Income	114	139	87	94	64	72	58	33	68	53	72
Total Gross Profit	550	528	421	438	408	462	445	400	352	349	352
Total Revenue	1,287	1,244	1,092	1,091	1,001	1,138	1,124	1,003	809	812	822
Operating Revenue	1,287	1,244	1,092	1,091	1,001	1,138	1,124	1,003	809	812	822
Total Cost of Revenue	737	716	671	653	593	676	679	603	457	463	470
Operating Cost of Revenue	737	716	671	653	593	676	679	603	457	463	470
Total Operating Expenses	436	389	334	344	344	390	387	367	283	296	280
Selling, General & Admin Expense	392	353	306	322	314	357	356	335	249	252	251
Research & Development Expense	44	37	31	32	30	33	31	32	35	32	29
Other Special Charges / (Income)	0.00	0.00	-3.70	-9.80	0.00	-	-	-	-	-	-
Total Other Income / (Expense), net	-9.50	-15	-7.70	-20	-23	-18	-22	-34	-1.77	-2.75	-2.56
Interest & Investment Income	-9.10	-14	-7.10	-7.30	-17	-	3.00	2.40	0.33	0.17	0.30
Other Income / (Expense), net	-0.40	-1.30	-0.60	-1.00	-5.20	0.00	-1.90	-11	-0.83	-1.61	-1.14
Income Tax Expense	21	14	13	9.20	7.40	8.10	2.30	4.90	20	18	19
Basic Earnings per Share	$4.46	$5.92	$3.58	$3.51	$1.84	$2.53	$1.86	($0.35)	$2.66	$1.78	$2.78
Weighted Average Basic Shares Outstanding	18.79M	18.51M	18.49M	18.50M	18.35M	18.12M	17.94M	17.70M	17.52M	18.02M	18.22M
Diluted Earnings per Share	$4.38	$5.83	$3.55	$3.44	$1.81	$2.48	$1.82	($0.35)	$2.59	$1.74	$2.70
Weighted Average Diluted Shares Outstanding	19.10M	18.78M	18.70M	18.85M	18.64M	18.45M	18.34M	17.70M	17.98M	18.49M	18.74M
Weighted Average Basic & Diluted Shares Outstanding	18.82M	18.62M	18.52M	18.53M	18.52M	18.35M	18M	17.70M	17.50M	18M	18.20M
Cash Dividends to Common per Share	$1.14	$1.08	$1.02	$0.94	$0.89	$0.88	$0.85	$0.84	$0.81	$0.80	$0.78

This table shows Tennant's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	13	6.60	21	28	28	31	23	31	24	24	16
Consolidated Net Income / (Loss)	13	6.60	21	28	28	31	23	31	24	24	16
Net Income / (Loss) Continuing Operations	13	6.60	21	28	28	31	23	31	24	24	16
Total Pre-Tax Income	17	5.30	28	37	35	22	30	40	32	25	20
Total Operating Income	20	7.60	31	39	38	25	35	44	36	28	21
Total Gross Profit	120	136	134	143	138	131	132	140	126	115	101
Total Revenue	290	329	316	331	311	311	305	322	306	291	263
Operating Revenue	290	329	316	331	311	311	305	322	306	291	263
Total Cost of Revenue	170	193	182	188	174	181	173	182	180	176	162
Operating Cost of Revenue	170	193	182	188	174	181	173	182	180	176	162
Total Operating Expenses	100	128	103	104	100	106	97	96	90	87	79
Selling, General & Admin Expense	91	116	93	93	90	96	88	87	82	79	71
Research & Development Expense	9.70	12	11	11	10	11	9.10	9.00	7.90	7.60	7.90
Total Other Income / (Expense), net	-2.40	-2.30	-3.10	-1.70	-2.40	-2.50	-4.80	-3.60	-3.90	-3.70	-1.60
Interest Expense	2.30	-	2.70	2.50	-	-	3.30	4.00	-	-	-
Other Income / (Expense), net	-0.10	-0.70	-0.40	0.80	-0.10	-	-1.50	0.40	-0.20	-0.30	0.60
Income Tax Expense	4.10	-1.30	6.70	9.00	6.70	-9.00	7.00	8.60	7.70	0.90	4.20
Basic Earnings per Share	$0.70	$0.36	$1.11	$1.47	$1.52	$1.67	$1.23	$1.70	$1.32	$1.28	$0.84
Weighted Average Basic Shares Outstanding	18.70M	18.79M	18.81M	18.90M	18.67M	18.51M	18.57M	18.44M	18.45M	18.49M	18.52M
Diluted Earnings per Share	$0.69	$0.35	$1.09	$1.45	$1.49	$1.64	$1.21	$1.68	$1.30	$1.28	$0.83
Weighted Average Diluted Shares Outstanding	18.96M	19.10M	19.09M	19.21M	19.08M	18.78M	18.88M	18.71M	18.68M	18.70M	18.69M
Weighted Average Basic & Diluted Shares Outstanding	18.65M	18.82M	18.87M	18.90M	19.01M	18.62M	18.68M	18.58M	18.51M	18.52M	18.60M

This table details how cash moves in and out of Tennant's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	-17	40	-46	-17	66	-12	27	-1.70	7.76	-42	12
Net Cash From Operating Activities	90	188	-25	69	134	72	80	54	58	45	59
Net Cash From Continuing Operating Activities	90	188	-25	69	134	72	80	54	58	45	59
Net Income / (Loss) Continuing Operations	84	110	66	65	34	46	34	-6.20	47	32	51
Consolidated Net Income / (Loss)	84	110	66	65	34	46	34	-6.20	47	32	51
Depreciation Expense	40	36	33	33	33	32	32	26	18	17	18
Amortization Expense	15	15	16	20	21	22	25	19	0.41	1.48	2.37
Non-Cash Adjustments To Reconcile Net Income	16	16	7.40	15	11	20	8.70	21	4.15	20	8.84
Changes in Operating Assets and Liabilities, net	-65	12	-148	-63	36	-48	-19	-6.00	-11	-25	-20
Net Cash From Investing Activities	-78	-23	-25	1.70	-30	-56	-16	-375	-41	-24	-18
Net Cash From Continuing Investing Activities	-78	-23	-25	1.50	-30	-56	-16	-375	-41	-24	-18
Purchase of Property, Plant & Equipment	-21	-23	-25	-19	-30	-38	-19	-20	-27	-25	-20
Acquisitions	-26	0.00	0.00	-	-0.10	-20	-2.80	-357	-13	0.00	0.00
Purchase of Investments	-32	0.00	0.00	-	-	-	-	-	-	-	-
Divestitures	0.00	0.00	4.10	25	0.00	0.00	4.00	0.00	0.29	1.19	1.42
Other Investing Activities, net	0.30	-0.40	-3.60	-3.80	0.00	-	-	-1.50	-2.00	-0.32	0.01
Net Cash From Financing Activities	-25	-123	8.10	-85	-43	-27	-33	319	-9.56	-61	-28
Net Cash From Continuing Financing Activities	-25	-123	8.10	-85	-43	-27	-33	319	-9.56	-61	-28
Repayment of Debt	-45	-120	-19	-370	-158	-42	-38	-416	-3.46	-3.45	-3.52
Repurchase of Common Equity	-20	-22	-5.00	-15	0.00	0.00	-	-	-13	-46	-14
Payment of Dividends	-21	-20	-19	-18	-16	-17	-15	-15	-14	-14	-14
Issuance of Debt	41	20	52	316	126	25	15	743	15	0.00	0.00
Issuance of Common Equity	20	19	-0.90	5.00	4.90	6.10	5.90	6.90	5.27	1.68	2.27
Other Financing Activities, net	0.00	0.20	0.00	-2.40	-0.20	-0.20	0.00	0.30	0.69	0.86	1.79
Effect of Exchange Rate Changes	-3.40	-2.90	-4.70	-4.00	5.30	-	-	-	-	-1.91	-1.48
Cash Interest Paid	14	17	7.60	12	18	20	22	14	1.14	1.17	1.47
Cash Income Taxes Paid	30	40	34	20	12	22	11	14	14	23	11

This table details how cash moves in and out of Tennant's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-20	8.50	6.70	-4.20	-28	20	1.20	4.40	14	18	-15
Net Cash From Operating Activities	-0.40	38	31	19	2.90	64	54	39	31	14	-15
Net Cash From Continuing Operating Activities	-0.40	38	31	19	2.90	64	54	39	31	14	-15
Net Income / (Loss) Continuing Operations	13	6.60	21	28	28	31	23	31	24	24	16
Consolidated Net Income / (Loss)	13	6.60	21	28	28	31	23	31	24	24	16
Depreciation Expense	11	11	10	9.90	9.60	10	9.20	8.90	8.30	8.80	7.60
Amortization Expense	3.40	3.60	3.60	3.90	3.90	3.70	3.50	3.60	3.90	3.80	3.70
Non-Cash Adjustments To Reconcile Net Income	4.10	4.20	5.50	2.60	3.60	4.00	6.30	3.60	2.40	5.50	1.70
Changes in Operating Assets and Liabilities, net	-32	13	-9.30	-26	-43	15	13	-8.30	-7.80	-28	-44
Net Cash From Investing Activities	-6.90	-9.30	-4.20	-4.30	-61	-8.00	-3.20	-5.20	-6.80	-5.50	-8.90
Net Cash From Continuing Investing Activities	-6.90	-9.30	-4.20	-4.30	-61	-8.00	-3.20	-5.20	-6.80	-5.50	-8.90
Purchase of Property, Plant & Equipment	-7.10	-9.00	-4.40	-4.30	-3.20	-7.00	-3.50	-5.30	-7.00	-5.60	-8.90
Acquisitions	0.00	-	-	-0.20	-26	-	-	-	0.00	-	-
Purchase of Investments	0.00	-	-	-	-32	-	-	-	0.00	-	-
Other Investing Activities, net	0.20	-0.30	0.20	0.20	0.20	-1.00	0.30	0.10	0.20	0.10	-
Net Cash From Financing Activities	-14	-17	-21	-15	27	-36	-49	-28	-10	9.30	11
Net Cash From Continuing Financing Activities	-14	-17	-21	-15	27	-36	-49	-28	-10	9.30	11
Repayment of Debt	-0.80	-10	-7.20	-1.30	-26	-21	-56	-21	-21	-1.10	-1.40
Repurchase of Common Equity	-20	-2.50	-8.00	-8.00	-1.10	-10	-1.70	-5.00	-5.00	-5.00	-
Payment of Dividends	-5.60	-5.50	-5.30	-5.30	-5.30	-5.30	-5.00	-4.90	-4.90	-4.90	-4.80
Issuance of Debt	15	0.90	-	-	40	-	-	-	20	20	17
Issuance of Common Equity	-2.10	-	-	0.10	20	0.90	14	3.40	0.80	-	-
Effect of Exchange Rate Changes	0.70	-2.60	0.70	-4.00	2.50	-0.20	-1.00	-1.70	0.00	0.70	-1.50
Cash Interest Paid	2.90	2.30	3.60	3.20	4.50	2.40	4.30	5.90	4.50	2.20	2.90
Cash Income Taxes Paid	3.50	2.30	9.30	17	1.60	10	17	12	0.80	12	11

This table presents Tennant's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	1,190	1,113	1,085	1,062	1,083	1,063	993	994	470	432	487
Total Current Assets	577	569	575	527	494	481	469	423	298	294	347
Restricted Cash	100	117	77	124	141	-	86	0.65	0.52	0.64	0.35
Accounts Receivable	259	248	252	211	200	223	216	210	149	140	152
Inventories, net	184	176	207	161	128	150	135	128	79	77	81
Prepaid Expenses	34	29	40	31	25	33	31	19	9.20	15	9.55
Plant, Property, & Equipment, net	184	188	180	173	186	173	163	180	112	95	87
Total Noncurrent Assets	429	357	330	362	404	409	361	391	60	44	53
Goodwill	186	187	182	193	208	195	183	186	21	17	18
Intangible Assets	59	63	76	98	126	138	147	172	6.46	3.20	16
Other Noncurrent Operating Assets	185	106	72	71	70	47	31	21	19	12	11
Total Liabilities & Shareholders' Equity	1,190	1,113	1,085	1,062	1,083	1,063	993	994	470	432	487
Total Liabilities	568	535	613	627	677	702	676	696	191	180	206
Total Current Liabilities	292	274	262	290	254	275	249	237	133	133	146
Short-Term Debt	1.30	6.40	5.20	4.20	11	31	27	31	3.46	3.46	3.57
Accounts Payable	127	111	126	122	106	94	98	96	47	50	62
Current Employee Benefit Liabilities	61	67	44	61	54	64	56	37	36	35	34
Other Current Liabilities	104	89	86	104	83	86	67	69	44	43	46
Total Noncurrent Liabilities	276	261	351	336	422	427	427	459	59	47	61
Long-Term Debt	198	194	295	263	298	308	328	346	33	21	25
Capital Lease Obligations	36	27	17	25	29	-	0.00	-	-	-	-
Noncurrent Deferred & Payable Income Tax Liabilities	4.90	5.00	12	21	39	42	46	53	0.17	0.01	5.99
Noncurrent Employee Benefit Liabilities	14	13	13	16	18	19	21	24	21	22	26
Other Noncurrent Operating Liabilities	23	22	15	11	39	58	32	36	4.63	4.17	4.38
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	622	578	472	435	406	361	316	298	279	252	281
Total Preferred & Common Equity	621	577	471	434	405	360	314	297	279	252	281
Total Common Equity	621	577	471	434	405	360	314	297	279	252	281
Common Stock	84	72	63	61	62	52	35	22	10	6.65	33
Retained Earnings	610	547	458	411	363	346	316	297	318	294	286
Accumulated Other Comprehensive Income / (Loss)	-73	-42	-50	-38	-20	-39	-37	-22	-50	-48	-39
Noncontrolling Interest	1.30	1.30	1.30	1.30	1.30	1.40	1.90	1.97	0.00	-	-

This table presents Tennant's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,180	1,216	1,168	1,152	1,059	1,108	1,101	1,005
Total Current Assets	551	594	578	561	555	590	582	522
Restricted Cash	80	91	85	89	97	96	91	59
Accounts Receivable	251	260	269	257	242	264	254	219
Inventories, net	191	202	190	181	185	198	204	200
Prepaid Expenses	29	41	35	34	31	32	33	44
Plant, Property, & Equipment, net	186	184	179	185	182	185	183	166
Total Noncurrent Assets	444	439	410	406	323	334	336	317
Goodwill	193	198	191	192	181	186	185	169
Intangible Assets	57	66	68	72	64	70	73	74
Other Noncurrent Operating Assets	194	174	152	141	78	79	77	74
Total Liabilities & Shareholders' Equity	1,180	1,216	1,168	1,152	1,059	1,108	1,101	1,005
Total Liabilities	554	568	542	536	513	586	608	579
Total Current Liabilities	257	274	266	260	245	258	257	244
Short-Term Debt	0.50	0.60	7.80	7.20	5.90	5.30	5.30	5.30
Accounts Payable	115	128	129	125	99	113	118	110
Current Employee Benefit Liabilities	39	59	52	47	62	52	45	47
Other Current Liabilities	102	86	78	82	78	88	89	82
Total Noncurrent Liabilities	297	294	275	275	268	329	351	334
Long-Term Debt	213	209	206	207	216	273	294	276
Capital Lease Obligations	35	35	30	27	19	17	18	17
Noncurrent Deferred & Payable Income Tax Liabilities	5.10	7.90	7.90	8.40	8.60	9.70	11	16
Noncurrent Employee Benefit Liabilities	14	14	13	14	13	13	13	16
Other Noncurrent Operating Liabilities	29	29	19	19	12	16	15	9.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	626	649	626	616	546	522	493	427
Total Preferred & Common Equity	624	647	625	615	545	521	492	425
Total Common Equity	624	647	625	615	545	521	492	425
Common Stock	65	84	88	94	78	61	60	64
Retained Earnings	617	609	593	571	522	504	477	439
Accumulated Other Comprehensive Income / (Loss)	-57	-45	-56	-50	-55	-44	-46	-78
Noncontrolling Interest	1.70	1.30	1.30	1.30	1.30	1.30	1.30	1.30

This table displays calculated financial ratios and metrics derived from Tennant's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.47%	13.86%	0.13%	8.97%	-12.01%	1.26%	12.00%	24.06%	-0.40%	-1.24%	9.30%
EBITDA Growth	-10.30%	39.25%	-7.20%	30.29%	-11.33%	11.78%	69.01%	-22.09%	23.20%	-23.54%	11.69%
EBIT Growth	-17.04%	58.55%	-6.58%	58.46%	-18.52%	27.99%	158.53%	-67.82%	30.79%	-27.33%	15.85%
NOPAT Growth	-25.53%	68.58%	-11.39%	57.12%	-14.42%	12.45%	134.95%	-51.73%	41.43%	-35.56%	25.25%
Net Income Growth	-23.56%	65.16%	2.16%	92.58%	-26.58%	37.01%	640.32%	-113.30%	45.27%	-36.65%	25.90%
EPS Growth	-24.87%	64.23%	3.20%	90.06%	-27.02%	36.26%	620.00%	-113.51%	48.85%	-35.56%	26.17%
Operating Cash Flow Growth	-52.39%	850.60%	-136.17%	-48.13%	86.09%	-10.13%	47.60%	-6.35%	27.96%	-23.80%	-0.76%
Free Cash Flow Firm Growth	-84.61%	517.14%	-143.67%	5.88%	262.13%	-75.56%	125.29%	-3,397.64%	-66.79%	-40.04%	25.44%
Invested Capital Growth	10.00%	-3.22%	17.80%	0.37%	-3.71%	6.87%	-5.02%	140.55%	17.22%	1.43%	0.56%
Revenue Q/Q Growth	1.38%	1.67%	1.35%	0.31%	-2.12%	0.84%	0.53%	7.22%	0.73%	-1.27%	2.64%
EBITDA Q/Q Growth	-9.24%	-1.31%	12.38%	2.68%	-7.98%	4.04%	4.98%	-7.09%	5.33%	-6.42%	4.63%
EBIT Q/Q Growth	-13.38%	-2.56%	22.32%	4.86%	-15.71%	8.30%	12.45%	-40.10%	6.66%	-7.88%	6.16%
NOPAT Q/Q Growth	-21.80%	6.38%	33.25%	3.52%	-15.88%	5.59%	15.16%	-11.84%	5.24%	-12.39%	17.90%
Net Income Q/Q Growth	-22.57%	7.04%	31.55%	9.08%	-20.33%	7.75%	48.78%	-150.19%	4.89%	-11.93%	16.68%
EPS Q/Q Growth	-22.75%	6.58%	31.97%	9.21%	-20.26%	6.90%	50.41%	-151.47%	4.86%	-10.31%	16.38%
Operating Cash Flow Q/Q Growth	-22.67%	36.23%	22.29%	-30.04%	8.60%	-12.95%	21.81%	-4.44%	21.57%	-15.36%	-0.78%
Free Cash Flow Firm Q/Q Growth	354.08%	58.76%	14.36%	-22.14%	-30.28%	1.54%	18.47%	-0.28%	172.45%	-42.99%	26.15%
Invested Capital Q/Q Growth	-5.43%	-0.09%	6.89%	5.89%	1.36%	-2.31%	-2.94%	-1.84%	-3.54%	6.08%	-2.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.75%	42.44%	38.54%	40.15%	40.74%	40.59%	39.61%	39.86%	43.48%	43.00%	42.88%
EBITDA Margin	13.13%	15.15%	12.39%	13.37%	11.18%	11.09%	10.05%	6.66%	10.60%	8.57%	11.07%
Operating Margin	8.88%	11.15%	7.98%	8.59%	6.36%	6.31%	5.16%	3.29%	8.44%	6.55%	8.77%
EBIT Margin	8.85%	11.04%	7.93%	8.50%	5.84%	6.31%	4.99%	2.16%	8.34%	6.35%	8.63%
Profit (Net Income) Margin	6.51%	8.81%	6.07%	5.95%	3.37%	4.03%	2.98%	-0.62%	5.77%	3.95%	6.16%
Tax Burden Percent	79.87%	88.45%	83.40%	87.58%	82.00%	85.00%	93.58%	476.92%	70.11%	63.64%	72.84%
Interest Burden Percent	92.01%	90.17%	91.80%	79.94%	70.26%	75.21%	63.81%	-5.99%	98.59%	97.79%	98.00%
Effective Tax Rate	20.13%	11.55%	16.60%	12.42%	18.00%	15.00%	6.42%	0.00%	29.89%	36.36%	27.16%
Return on Invested Capital (ROIC)	12.61%	17.50%	11.05%	13.60%	8.51%	10.08%	9.03%	5.30%	20.16%	15.59%	24.44%
ROIC Less NNEP Spread (ROIC-NNEP)	6.47%	10.04%	7.91%	4.21%	0.46%	4.41%	1.95%	-14.54%	24.60%	19.14%	27.69%
Return on Net Nonoperating Assets (RNNOA)	1.33%	3.35%	3.57%	1.83%	0.27%	3.47%	1.86%	-7.44%	-2.60%	-3.55%	-5.84%
Return on Equity (ROE)	13.95%	20.85%	14.62%	15.43%	8.78%	13.55%	10.90%	-2.15%	17.57%	12.04%	18.60%
Cash Return on Invested Capital (CROIC)	3.09%	20.77%	-5.30%	13.24%	12.29%	3.44%	14.19%	-77.25%	4.31%	14.18%	23.88%
Operating Return on Assets (OROA)	9.89%	12.49%	8.07%	8.65%	5.45%	6.99%	5.65%	2.96%	14.95%	11.22%	15.05%
Return on Assets (ROA)	7.27%	9.96%	6.18%	6.05%	3.14%	4.47%	3.37%	-0.85%	10.33%	6.98%	10.74%
Return on Common Equity (ROCE)	13.92%	20.80%	14.57%	15.38%	8.75%	13.48%	10.83%	-2.14%	17.57%	12.04%	18.60%
Return on Equity Simple (ROE_SIMPLE)	13.48%	18.98%	14.08%	14.96%	8.33%	12.75%	10.66%	-2.09%	16.73%	12.72%	18.05%
Net Operating Profit after Tax (NOPAT)	91	123	73	82	52	61	54	23	48	34	53
NOPAT Margin	7.09%	9.86%	6.66%	7.52%	5.22%	5.36%	4.83%	2.30%	5.92%	4.17%	6.39%
Net Nonoperating Expense Percent (NNEP)	6.15%	7.46%	3.14%	9.39%	8.05%	5.68%	7.08%	19.84%	-4.44%	-3.54%	-3.25%
Return On Investment Capital (ROIC_SIMPLE)	10.64%	15.20%	9.21%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	57.26%	57.56%	61.46%	59.85%	59.26%	59.41%	60.39%	60.14%	56.52%	57.00%	57.12%
SG&A Expenses to Revenue	30.46%	28.35%	28.04%	29.51%	31.37%	31.40%	31.71%	33.38%	30.74%	31.08%	30.52%
R&D to Revenue	3.40%	2.94%	2.85%	2.95%	3.01%	2.87%	2.73%	3.19%	4.30%	3.99%	3.58%
Operating Expenses to Revenue	33.86%	31.30%	30.55%	31.56%	34.38%	34.27%	34.45%	36.57%	35.04%	36.45%	34.10%
Earnings before Interest and Taxes (EBIT)	114	137	87	93	59	72	56	22	67	52	71
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	169	188	135	146	112	126	113	67	86	70	91
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.48	2.97	2.37	3.35	3.06	3.73	2.79	4.02	4.09	3.56	4.18
Price to Tangible Book Value (P/TBV)	4.09	5.24	5.26	10.17	17.48	49.50	0.00	0.00	4.54	3.87	4.76
Price to Revenue (P/Rev)	1.20	1.38	1.02	1.33	1.24	1.18	0.78	1.19	1.41	1.11	1.43
Price to Earnings (P/E)	18.38	15.63	16.84	22.36	36.72	29.29	26.30	0.00	24.43	28.00	23.17
Dividend Yield	1.39%	1.17%	1.69%	1.20%	1.33%	1.20%	1.75%	1.26%	1.25%	1.59%	1.22%
Earnings Yield	5.44%	6.40%	5.94%	4.47%	2.72%	3.41%	3.80%	0.00%	4.09%	3.57%	4.32%
Enterprise Value to Invested Capital (EV/IC)	2.21	2.65	1.91	2.68	2.38	2.57	1.96	2.45	4.36	3.99	5.14
Enterprise Value to Revenue (EV/Rev)	1.30	1.47	1.24	1.49	1.43	1.41	1.02	1.51	1.38	1.07	1.35
Enterprise Value to EBITDA (EV/EBITDA)	9.92	9.68	10.04	11.12	12.82	12.74	10.18	22.62	13.02	12.52	12.18
Enterprise Value to EBIT (EV/EBIT)	14.71	13.28	15.68	17.50	24.53	22.38	20.48	69.64	16.56	16.89	15.62
Enterprise Value to NOPAT (EV/NOPAT)	18.36	14.88	18.67	19.76	27.48	26.33	21.17	65.42	23.33	25.74	21.11
Enterprise Value to Operating Cash Flow (EV/OCF)	18.68	9.68	0.00	23.37	10.73	22.35	14.36	27.88	19.29	19.26	18.67
Enterprise Value to Free Cash Flow (EV/FCFF)	74.86	12.54	0.00	20.31	19.02	77.16	13.48	0.00	109.26	28.31	21.60
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.38	0.39	0.67	0.67	0.83	0.94	1.12	1.26	0.13	0.10	0.10
Long-Term Debt to Equity	0.38	0.38	0.66	0.66	0.80	0.85	1.04	1.16	0.12	0.08	0.09
Financial Leverage	0.21	0.33	0.45	0.43	0.60	0.79	0.95	0.51	-0.11	-0.19	-0.21
Leverage Ratio	1.92	2.09	2.37	2.55	2.80	3.03	3.23	2.54	1.70	1.73	1.73
Compound Leverage Factor	1.77	1.89	2.17	2.04	1.96	2.28	2.06	-0.15	1.68	1.69	1.70
Debt to Total Capital	27.49%	28.28%	40.20%	40.24%	45.37%	48.39%	52.89%	55.80%	11.50%	8.90%	9.11%
Short-Term Debt to Total Capital	0.15%	0.79%	0.66%	0.58%	1.47%	4.47%	4.02%	4.57%	1.10%	1.25%	1.15%
Long-Term Debt to Total Capital	27.33%	27.48%	39.54%	39.66%	43.90%	43.92%	48.87%	51.23%	10.40%	7.66%	7.96%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.15%	0.16%	0.16%	0.18%	0.17%	0.20%	0.28%	0.29%	0.00%	0.00%	0.00%
Common Equity to Total Capital	72.36%	71.56%	59.63%	59.58%	54.46%	51.41%	46.83%	43.91%	88.50%	91.10%	90.89%
Debt to EBITDA	1.40	1.21	2.35	2.01	3.01	2.68	3.15	5.64	0.42	0.35	0.31
Net Debt to EBITDA	0.80	0.59	1.77	1.16	1.75	2.09	2.38	4.76	-0.26	-0.39	-0.72
Long-Term Debt to EBITDA	1.39	1.18	2.31	1.98	2.92	2.44	2.91	5.18	0.38	0.30	0.27
Debt to NOPAT	2.58	1.86	4.36	3.57	6.46	5.55	6.54	16.31	0.76	0.73	0.54
Net Debt to NOPAT	1.49	0.90	3.30	2.06	3.76	4.33	4.96	13.76	-0.47	-0.81	-1.24
Long-Term Debt to NOPAT	2.57	1.81	4.29	3.52	6.25	5.04	6.05	14.98	0.68	0.63	0.47
Altman Z-Score	4.03	4.45	3.30	3.51	2.94	3.13	2.81	2.75	7.13	6.66	6.90
Noncontrolling Interest Sharing Ratio	0.22%	0.25%	0.29%	0.31%	0.35%	0.49%	0.63%	0.34%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.97	2.08	2.20	1.81	1.94	1.75	1.88	1.79	2.24	2.20	2.38
Quick Ratio	0.89	0.90	0.96	0.73	0.79	1.08	0.87	1.13	1.56	1.44	1.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	22	145	-35	80	75	21	85	-337	10	31	51
Operating Cash Flow to CapEx	429.19%	826.32%	-100.40%	357.73%	448.99%	187.73%	427.81%	302.79%	223.37%	185.04%	307.70%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	7.07	0.00	1.17	3.66	-13.27	7.99	23.43	29.80
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	6.14	0.00	4.04	3.43	2.13	45.25	34.45	34.47
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	4.42	0.00	1.89	2.63	1.43	24.99	15.83	23.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.12	1.13	1.02	1.02	0.93	1.11	1.13	1.37	1.79	1.77	1.74
Accounts Receivable Turnover	5.08	4.98	4.72	5.30	4.73	5.18	5.28	5.59	5.58	5.54	5.62
Inventory Turnover	4.10	3.74	3.66	4.53	4.27	4.74	5.16	5.85	5.86	5.86	6.37
Fixed Asset Turnover	6.92	6.77	6.19	6.09	5.58	6.76	6.54	6.87	7.81	8.95	9.67
Accounts Payable Turnover	6.18	6.03	5.42	5.73	5.92	7.02	6.98	8.41	9.35	8.26	8.19
Days Sales Outstanding (DSO)	71.87	73.24	77.35	68.81	77.16	70.51	69.15	65.25	65.36	65.83	64.96
Days Inventory Outstanding (DIO)	89.11	97.52	99.83	80.60	85.47	77.01	70.69	62.41	62.27	62.24	57.30
Days Payable Outstanding (DPO)	59.03	60.55	67.31	63.68	61.65	51.98	52.31	43.41	39.04	44.16	44.58
Cash Conversion Cycle (CCC)	101.94	110.21	109.86	85.73	100.97	95.54	87.53	84.26	88.59	83.90	77.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	758	689	712	605	602	626	585	616	256	219	215
Invested Capital Turnover	1.78	1.77	1.66	1.81	1.63	1.88	1.87	2.30	3.41	3.74	3.83
Increase / (Decrease) in Invested Capital	69	-23	108	2.20	-23	40	-31	360	38	3.07	1.20
Enterprise Value (EV)	1,676	1,824	1,358	1,622	1,435	1,607	1,149	1,511	1,117	871	1,108
Market Capitalization	1,539	1,712	1,117	1,451	1,238	1,342	878	1,191	1,139	898	1,174
Book Value per Share	$32.89	$30.89	$25.32	$23.40	$21.91	$19.70	$17.35	$16.61	$15.80	$14.14	$15.25
Tangible Book Value per Share	$19.95	$17.48	$11.42	$7.70	$3.83	$1.48	($0.82)	($3.47)	$14.24	$13.02	$13.41
Total Capital	858	806	790	728	743	700	671	675	315	277	309
Total Debt	236	228	317	293	337	339	355	377	36	25	28
Total Long-Term Debt	235	222	312	289	326	308	328	346	33	21	25
Net Debt	136	111	240	169	196	264	269	318	-22	-27	-65
Capital Expenditures (CapEx)	21	23	25	19	30	38	19	18	26	24	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	186	185	242	117	109	163	161	158	110	112	112
Debt-free Net Working Capital (DFNWC)	286	302	319	241	250	237	247	217	169	164	205
Net Working Capital (NWC)	284	295	314	237	239	206	220	187	165	160	201
Net Nonoperating Expense (NNE)	7.59	13	6.42	17	19	15	21	29	1.24	1.75	1.86
Net Nonoperating Obligations (NNO)	136	111	240	169	196	264	269	318	-22	-34	-65
Total Depreciation and Amortization (D&A)	55	51	49	53	53	54	57	45	18	18	20
Debt-free, Cash-free Net Working Capital to Revenue	14.45%	14.85%	22.11%	10.74%	10.91%	14.31%	14.29%	15.80%	13.60%	13.79%	13.59%
Debt-free Net Working Capital to Revenue	22.20%	24.27%	29.20%	22.07%	25.00%	20.87%	21.96%	21.68%	20.85%	20.19%	24.94%
Net Working Capital to Revenue	22.10%	23.75%	28.72%	21.68%	23.91%	18.12%	19.56%	18.60%	20.42%	19.76%	24.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.46	$5.92	$3.58	$3.51	$1.84	$2.53	$1.86	($0.35)	$2.66	$1.78	$2.78
Adjusted Weighted Average Basic Shares Outstanding	18.79M	18.51M	18.49M	18.50M	18.35M	18.12M	17.94M	17.70M	17.52M	18.02M	18.22M
Adjusted Diluted Earnings per Share	$4.38	$5.83	$3.55	$3.44	$1.81	$2.48	$1.82	($0.35)	$2.59	$1.74	$2.70
Adjusted Weighted Average Diluted Shares Outstanding	19.10M	18.78M	18.70M	18.85M	18.64M	18.45M	18.34M	17.70M	17.98M	18.49M	18.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	18.82M	18.62M	18.52M	18.53M	18.52M	18.35M	18.12M	17.88M	17.70M	17.65M	18.42M
Normalized Net Operating Profit after Tax (NOPAT)	91	123	70	73	52	61	54	23	48	41	53
Normalized NOPAT Margin	7.09%	9.86%	6.38%	6.74%	5.22%	5.36%	4.83%	2.30%	5.92%	5.05%	6.39%
Pre Tax Income Margin	8.14%	9.96%	7.28%	6.79%	4.11%	4.75%	3.19%	-0.13%	8.22%	6.21%	8.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	8.20	0.00	4.03	2.41	0.85	52.73	39.27	41.21
NOPAT to Interest Expense	0.00	0.00	0.00	7.26	0.00	3.43	2.33	0.91	37.42	25.77	30.50
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	6.49	0.00	1.88	1.61	0.15	32.47	20.66	30.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	5.55	0.00	1.28	1.53	0.20	17.16	7.16	19.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	25.57%	18.36%	28.51%	26.96%	48.66%	35.95%	45.67%	-241.94%	30.66%	45.18%	28.60%
Augmented Payout Ratio	48.98%	38.17%	36.05%	50.08%	48.66%	35.95%	45.67%	-241.94%	58.04%	188.53%	56.43%

This table displays calculated financial ratios and metrics derived from Tennant's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.75%	5.62%	3.64%	2.89%	1.70%	7.01%	15.90%	14.81%	18.48%	5.28%	-3.35%
EBITDA Growth	-34.18%	-45.03%	-4.36%	-5.67%	6.26%	-6.14%	37.84%	67.86%	72.92%	57.75%	-7.50%
EBIT Growth	-47.86%	-71.84%	-9.04%	-10.25%	4.76%	-12.81%	50.91%	104.19%	138.00%	128.46%	-3.93%
NOPAT Growth	-50.80%	-72.59%	-12.91%	-14.47%	11.30%	26.16%	57.62%	83.03%	166.49%	206.73%	-26.83%
Net Income Growth	-53.87%	-78.71%	-9.17%	-10.86%	16.87%	30.25%	46.79%	88.55%	135.92%	201.27%	-27.44%
EPS Growth	-53.69%	-78.66%	-9.92%	-13.69%	14.62%	28.13%	45.78%	88.76%	136.36%	204.76%	-27.19%
Operating Cash Flow Growth	-113.79%	-41.22%	-43.57%	-52.43%	-90.68%	365.69%	457.89%	389.63%	407.92%	110.77%	-160.56%
Free Cash Flow Firm Growth	37.31%	-203.51%	-3,078.75%	15.03%	68.19%	171.57%	103.79%	30.95%	9.20%	-1,293.69%	-269.26%
Invested Capital Growth	3.51%	10.00%	16.21%	8.72%	6.90%	-3.22%	3.54%	11.39%	13.91%	17.80%	16.69%
Revenue Q/Q Growth	-11.83%	4.15%	-4.59%	6.43%	-0.13%	2.20%	-5.28%	5.20%	5.09%	10.69%	-6.17%
EBITDA Q/Q Growth	59.52%	-52.16%	-17.48%	4.52%	33.25%	-16.78%	-18.62%	17.75%	17.69%	22.22%	-0.89%
EBIT Q/Q Growth	182.61%	-77.15%	-23.35%	5.35%	52.65%	-26.20%	-24.37%	22.97%	27.05%	27.73%	2.33%
NOPAT Q/Q Growth	57.73%	-59.11%	-20.70%	-3.81%	-12.11%	29.90%	-22.12%	25.17%	-0.38%	62.30%	-9.57%
Net Income Q/Q Growth	98.48%	-68.27%	-25.45%	-1.76%	-8.39%	35.37%	-26.84%	28.81%	2.10%	52.56%	-6.02%
EPS Q/Q Growth	97.14%	-67.89%	-24.83%	-2.68%	-9.15%	35.54%	-27.98%	29.23%	1.56%	54.22%	-6.74%
Operating Cash Flow Q/Q Growth	-101.07%	22.15%	65.05%	541.38%	-95.45%	17.28%	39.13%	25.72%	127.01%	190.13%	-12.59%
Free Cash Flow Firm Q/Q Growth	79.69%	32.96%	-162.96%	-75.07%	-133.54%	1,829.36%	107.50%	34.46%	24.55%	-2.29%	-36.52%
Invested Capital Q/Q Growth	4.97%	-5.43%	2.19%	2.03%	11.55%	-0.09%	-4.39%	0.32%	1.00%	6.89%	2.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	41.38%	41.35%	42.37%	43.11%	44.21%	42.00%	43.32%	43.36%	41.04%	39.59%	38.30%
EBITDA Margin	11.55%	6.38%	13.90%	16.07%	16.37%	12.27%	15.06%	17.53%	15.66%	13.99%	12.67%
Operating Margin	6.76%	2.31%	9.69%	11.66%	12.06%	7.87%	11.39%	13.52%	11.74%	9.76%	8.14%
EBIT Margin	6.72%	2.10%	9.56%	11.90%	12.03%	7.87%	10.90%	13.65%	11.67%	9.66%	8.37%
Profit (Net Income) Margin	4.52%	2.01%	6.59%	8.43%	9.13%	9.96%	7.52%	9.73%	7.95%	8.18%	5.93%
Tax Burden Percent	76.16%	124.53%	75.64%	75.61%	80.91%	140.91%	76.59%	78.45%	75.94%	96.36%	78.79%
Interest Burden Percent	88.21%	76.81%	91.06%	93.65%	93.85%	89.80%	90.06%	90.89%	89.64%	87.90%	90.00%
Effective Tax Rate	23.84%	-24.53%	24.36%	24.39%	19.09%	-40.91%	23.41%	21.55%	24.06%	3.64%	21.21%
Return on Invested Capital (ROIC)	8.33%	5.12%	12.47%	14.73%	16.38%	19.68%	15.74%	18.31%	15.05%	15.60%	11.17%
ROIC Less NNEP Spread (ROIC-NNEP)	7.20%	2.80%	10.89%	14.01%	15.35%	17.67%	13.82%	16.94%	13.64%	13.86%	10.49%
Return on Net Nonoperating Assets (RNNOA)	1.87%	0.58%	2.70%	4.37%	5.24%	5.90%	5.44%	7.32%	6.16%	6.25%	4.43%
Return on Equity (ROE)	10.20%	5.69%	15.18%	19.11%	21.62%	25.58%	21.18%	25.63%	21.21%	21.86%	15.60%
Cash Return on Invested Capital (CROIC)	6.25%	3.09%	0.66%	7.63%	10.20%	20.77%	13.52%	4.62%	0.33%	-5.30%	-6.58%
Operating Return on Assets (OROA)	7.30%	2.34%	10.67%	13.16%	13.33%	8.90%	12.91%	15.11%	12.37%	9.83%	8.70%
Return on Assets (ROA)	4.90%	2.24%	7.35%	9.32%	10.13%	11.26%	8.91%	10.78%	8.42%	8.32%	6.17%
Return on Common Equity (ROCE)	10.17%	5.68%	15.15%	19.06%	21.57%	25.52%	21.12%	25.56%	21.15%	21.79%	15.56%
Return on Equity Simple (ROE_SIMPLE)	10.95%	0.00%	16.70%	17.64%	18.48%	0.00%	18.77%	18.25%	16.32%	0.00%	11.85%
Net Operating Profit after Tax (NOPAT)	15	9.46	23	29	30	35	27	34	27	27	17
NOPAT Margin	5.15%	2.88%	7.33%	8.82%	9.76%	11.09%	8.72%	10.61%	8.91%	9.40%	6.41%
Net Nonoperating Expense Percent (NNEP)	1.13%	2.32%	1.58%	0.72%	1.03%	2.01%	1.92%	1.37%	1.41%	1.74%	0.69%
Return On Investment Capital (ROIC_SIMPLE)	1.71%	1.10%	-	-	-	4.28%	-	-	-	3.47%	-
Cost of Revenue to Revenue	58.62%	58.65%	57.63%	56.89%	55.79%	58.00%	56.68%	56.64%	58.96%	60.41%	61.70%
SG&A Expenses to Revenue	31.28%	35.39%	29.35%	28.07%	28.91%	30.73%	28.95%	27.04%	26.72%	27.22%	27.16%
R&D to Revenue	3.34%	3.65%	3.32%	3.38%	3.25%	3.40%	2.99%	2.80%	2.58%	2.61%	3.00%
Operating Expenses to Revenue	34.62%	39.04%	32.68%	31.45%	32.15%	34.14%	31.93%	29.84%	29.30%	29.83%	30.16%
Earnings before Interest and Taxes (EBIT)	20	6.90	30	39	37	25	33	44	36	28	22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	34	21	44	53	51	38	46	56	48	41	33
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.40	2.48	2.81	3.00	3.69	2.97	2.50	2.85	2.54	2.37	2.42
Price to Tangible Book Value (P/TBV)	4.01	4.09	4.75	5.11	6.47	5.24	4.54	5.59	5.35	5.26	5.63
Price to Revenue (P/Rev)	1.19	1.20	1.43	1.49	1.81	1.38	1.11	1.26	1.10	1.02	0.95
Price to Earnings (P/E)	21.94	18.38	16.80	16.98	19.94	15.63	13.32	15.62	15.57	16.84	20.38
Dividend Yield	1.44%	1.39%	1.17%	1.12%	0.90%	1.17%	1.45%	1.30%	1.53%	1.69%	1.81%
Earnings Yield	4.56%	5.44%	5.95%	5.89%	5.01%	6.40%	7.51%	6.40%	6.42%	5.94%	4.91%
Enterprise Value to Invested Capital (EV/IC)	2.10	2.21	2.46	2.59	3.15	2.65	2.19	2.34	2.05	1.91	1.90
Enterprise Value to Revenue (EV/Rev)	1.32	1.30	1.55	1.61	1.94	1.47	1.23	1.43	1.30	1.24	1.18
Enterprise Value to EBITDA (EV/EBITDA)	11.03	9.92	10.58	10.79	12.64	9.68	7.90	9.45	9.50	10.04	10.53
Enterprise Value to EBIT (EV/EBIT)	17.42	14.71	14.98	15.10	17.41	13.28	10.70	12.99	13.77	15.68	17.91
Enterprise Value to NOPAT (EV/NOPAT)	22.04	18.36	16.88	16.88	19.28	14.88	13.08	15.98	16.42	18.67	23.24
Enterprise Value to Operating Cash Flow (EV/OCF)	19.35	18.68	16.98	14.54	15.10	9.68	10.90	24.52	91.78	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	34.21	74.86	399.58	35.36	31.88	12.54	16.45	53.24	669.91	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.40	0.38	0.38	0.39	0.39	0.39	0.44	0.57	0.64	0.67	0.70
Long-Term Debt to Equity	0.40	0.38	0.38	0.38	0.38	0.38	0.43	0.56	0.63	0.66	0.69
Financial Leverage	0.26	0.21	0.25	0.31	0.34	0.33	0.39	0.43	0.45	0.45	0.42
Leverage Ratio	1.88	1.92	1.90	1.98	2.03	2.09	2.12	2.23	2.31	2.37	2.38
Compound Leverage Factor	1.66	1.47	1.73	1.86	1.91	1.88	1.91	2.03	2.07	2.08	2.14
Debt to Total Capital	28.47%	27.49%	27.37%	27.97%	28.18%	28.28%	30.57%	36.14%	39.16%	40.20%	41.20%
Short-Term Debt to Total Capital	0.06%	0.15%	0.07%	0.90%	0.84%	0.79%	0.75%	0.65%	0.65%	0.66%	0.73%
Long-Term Debt to Total Capital	28.41%	27.33%	27.30%	27.08%	27.34%	27.48%	29.82%	35.49%	38.50%	39.54%	40.47%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.19%	0.15%	0.15%	0.15%	0.15%	0.16%	0.17%	0.16%	0.16%	0.16%	0.18%
Common Equity to Total Capital	71.34%	72.36%	72.48%	71.88%	71.67%	71.56%	69.27%	63.70%	60.68%	59.63%	58.62%
Debt to EBITDA	1.64	1.40	1.31	1.29	1.26	1.21	1.26	1.66	2.04	2.35	2.48
Net Debt to EBITDA	1.12	0.80	0.82	0.84	0.80	0.59	0.75	1.12	1.45	1.77	1.99
Long-Term Debt to EBITDA	1.64	1.39	1.31	1.25	1.23	1.18	1.23	1.63	2.01	2.31	2.44
Debt to NOPAT	3.28	2.58	2.09	2.02	1.93	1.86	2.09	2.80	3.53	4.36	5.48
Net Debt to NOPAT	2.24	1.49	1.31	1.32	1.22	0.90	1.25	1.89	2.51	3.30	4.39
Long-Term Debt to NOPAT	3.28	2.57	2.09	1.96	1.87	1.81	2.04	2.75	3.47	4.29	5.38
Altman Z-Score	3.78	3.73	4.06	4.29	4.74	4.12	3.89	3.71	3.34	3.12	3.15
Noncontrolling Interest Sharing Ratio	0.24%	0.22%	0.22%	0.23%	0.23%	0.25%	0.27%	0.27%	0.28%	0.29%	0.30%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.14	1.97	2.17	2.17	2.15	2.08	2.27	2.29	2.27	2.20	2.14
Quick Ratio	0.98	0.89	0.95	1.01	0.99	0.90	0.99	1.02	0.99	0.96	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-12	-59	-89	-34	-19	57	2.98	-40	-61	-80	-78
Operating Cash Flow to CapEx	-5.63%	416.67%	697.73%	432.56%	90.63%	911.43%	1,554.29%	737.74%	444.29%	244.64%	-170.79%
Free Cash Flow to Firm to Interest Expense	-5.25	0.00	-32.84	-13.49	0.00	0.00	0.90	-9.92	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-0.17	0.00	11.37	7.44	0.00	0.00	16.48	9.78	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-3.26	0.00	9.74	5.72	0.00	0.00	15.42	8.45	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.09	1.12	1.12	1.11	1.11	1.13	1.19	1.11	1.06	1.02	1.04
Accounts Receivable Turnover	4.98	5.08	5.06	4.73	4.88	4.98	5.30	4.93	5.02	4.72	5.16
Inventory Turnover	3.93	4.10	3.75	3.69	3.68	3.74	3.70	3.62	3.57	3.66	3.75
Fixed Asset Turnover	6.83	6.92	6.94	6.91	6.80	6.77	7.03	6.68	6.44	6.19	6.42
Accounts Payable Turnover	6.10	6.18	6.40	5.92	5.85	6.03	6.82	6.00	5.83	5.42	5.90
Days Sales Outstanding (DSO)	73.32	71.87	72.20	77.22	74.77	73.24	68.81	74.03	72.65	77.35	70.74
Days Inventory Outstanding (DIO)	92.77	89.11	97.35	99.05	99.10	97.52	98.62	100.82	102.27	99.83	97.30
Days Payable Outstanding (DPO)	59.79	59.03	57.06	61.68	62.42	60.55	53.52	60.81	62.63	67.31	61.82
Cash Conversion Cycle (CCC)	106.30	101.94	112.48	114.58	111.45	110.21	113.91	114.04	112.30	109.86	106.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	796	758	802	784	769	689	690	722	719	712	666
Invested Capital Turnover	1.62	1.78	1.70	1.67	1.68	1.77	1.80	1.73	1.69	1.66	1.74
Increase / (Decrease) in Invested Capital	27	69	112	63	50	-23	24	74	88	108	95
Enterprise Value (EV)	1,672	1,676	1,970	2,031	2,420	1,824	1,507	1,685	1,478	1,358	1,268
Market Capitalization	1,501	1,539	1,816	1,871	2,265	1,712	1,362	1,484	1,250	1,117	1,027
Book Value per Share	$33.18	$32.89	$34.24	$32.86	$32.93	$30.89	$29.33	$28.13	$26.55	$25.32	$22.87
Tangible Book Value per Share	$19.89	$19.95	$20.23	$19.26	$18.76	$17.48	$16.16	$14.34	$12.62	$11.42	$9.82
Total Capital	875	858	893	869	858	806	787	817	811	790	725
Total Debt	249	236	244	243	242	228	241	295	317	317	299
Total Long-Term Debt	249	235	244	235	235	222	235	290	312	312	294
Net Debt	170	136	153	159	153	111	144	200	226	240	240
Capital Expenditures (CapEx)	7.10	9.00	4.40	4.30	3.20	7.00	3.50	5.30	7.00	5.60	8.90
Debt-free, Cash-free Net Working Capital (DFCFNWC)	215	186	230	235	219	185	219	242	240	242	224
Debt-free Net Working Capital (DFNWC)	294	286	321	319	308	302	316	337	331	319	283
Net Working Capital (NWC)	294	284	320	312	301	295	310	332	326	314	278
Net Nonoperating Expense (NNE)	1.83	2.86	2.34	1.29	1.94	3.52	3.68	2.82	2.96	3.57	1.26
Net Nonoperating Obligations (NNO)	170	136	153	159	153	111	144	200	226	240	240
Total Depreciation and Amortization (D&A)	14	14	14	14	14	14	13	13	12	13	11
Debt-free, Cash-free Net Working Capital to Revenue	16.95%	14.45%	18.10%	18.66%	17.54%	14.85%	17.88%	20.44%	21.01%	22.11%	20.78%
Debt-free Net Working Capital to Revenue	23.23%	22.20%	25.29%	25.39%	24.66%	24.27%	25.81%	28.55%	29.03%	29.20%	26.27%
Net Working Capital to Revenue	23.19%	22.10%	25.24%	24.77%	24.08%	23.75%	25.33%	28.10%	28.56%	28.72%	25.78%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.70	$0.36	$1.11	$1.47	$1.52	$1.67	$1.23	$1.70	$1.32	$1.28	$0.84
Adjusted Weighted Average Basic Shares Outstanding	18.70M	18.79M	18.81M	18.90M	18.67M	18.51M	18.57M	18.44M	18.45M	18.49M	18.52M
Adjusted Diluted Earnings per Share	$0.69	$0.35	$1.09	$1.45	$1.49	$1.64	$1.21	$1.68	$1.30	$1.28	$0.83
Adjusted Weighted Average Diluted Shares Outstanding	18.96M	19.10M	19.09M	19.21M	19.08M	18.78M	18.88M	18.71M	18.68M	18.70M	18.69M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	18.65M	18.82M	18.87M	18.90M	19.01M	18.62M	18.68M	18.58M	18.51M	18.52M	18.60M
Normalized Net Operating Profit after Tax (NOPAT)	15	5.32	23	29	30	17	27	34	27	27	17
Normalized NOPAT Margin	5.15%	1.62%	7.33%	8.82%	9.76%	5.51%	8.72%	10.61%	8.91%	9.40%	6.41%
Pre Tax Income Margin	5.93%	1.61%	8.71%	11.15%	11.29%	7.06%	9.81%	12.40%	10.46%	8.49%	7.53%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.48	0.00	11.19	15.76	0.00	0.00	10.06	10.98	0.00	0.00	0.00
NOPAT to Interest Expense	6.49	0.00	8.57	11.67	0.00	0.00	8.05	8.53	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	5.39	0.00	9.56	14.04	0.00	0.00	9.00	9.65	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	3.40	0.00	6.94	9.95	0.00	0.00	6.99	7.21	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.73%	25.57%	19.61%	18.97%	18.05%	18.36%	19.26%	20.53%	23.91%	28.51%	36.90%
Augmented Payout Ratio	88.30%	48.98%	44.68%	37.84%	33.71%	38.17%	35.58%	36.32%	36.36%	36.05%	51.79%

Frequently Asked Questions About Tennant's Financials

When does Tennant's financial year end?

According to the most recent income statement we have on file, Tennant's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Tennant's net income changed over the last 10 years?

Tennant's net income appears to be on an upward trend, with a most recent value of $83.70 million in 2024, rising from $50.65 million in 2014. The previous period was $109.50 million in 2023. See Tennant's forecast for analyst expectations on what’s next for the company.

What is Tennant's operating income?

Tennant's total operating income in 2024 was $114.30 million, based on the following breakdown:

Total Gross Profit: $550 million
Total Operating Expenses: $435.70 million

How has Tennant revenue changed over the last 10 years?

Over the last 10 years, Tennant's total revenue changed from $821.98 million in 2014 to $1.29 billion in 2024, a change of 56.5%.

How much debt does Tennant have?

Tennant's total liabilities were at $568 million at the end of 2024, a 6.1% increase from 2023, and a 175.4% increase since 2014.

How has Tennant's book value per share changed over the last 10 years?

Over the last 10 years, Tennant's book value per share changed from 15.25 in 2014 to 32.89 in 2024, a change of 115.7%.

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This page (NYSE:TNC) was last updated on 5/29/2025 by MarketBeat.com Staff

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Tennant (TNC) Financials

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Tennant (TNC) Financials

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