Tennant Company (TNC) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.33	$0.83	-37.6%	—	$324M	—
Q1 26	$0.4	$0.58	+45.0%	—	$297.9M	—
Q4 25	$1.7	$0.48	-71.8%	—	$291.6M	—
Q3 25	$1.5	$1.46	-2.7%	—	$303.3M	—
Q2 25	$1.63	$1.49	-8.6%	—	$318.6M	—
Q1 25	$1.3	$1.12	-13.8%	—	$290M	—
Q4 24	$1.37	$1.52	+10.9%	—	$328.9M	—
Q3 24	$1.44	$1.39	-3.5%	—	$315.8M	—
Q2 24	$1.72	$1.83	+6.4%	—	$331M	—
Q1 24	$1.42	$1.81	+27.5%	—	$311M	—
Q4 23	$1.25	$1.92	+53.6%	—	$311.4M	—
Q3 23	$1.15	$1.34	+16.5%	—	$304.7M	—
Q2 23	$1.16	$1.86	+60.3%	—	$321.7M	—
Q1 23	$0.84	$1.45	+72.6%	—	$305.8M	—
Q4 22	$1.21	$1.46	+20.7%	—	$291M	—
Q3 22	$1.1	$0.99	-10.0%	—	$262.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.38	—	—	$1.2B	—
FY24	—	$4.46	—	—	$1.3B	—
FY23	—	$5.92	—	—	$1.2B	—
FY22	—	$3.58	—	—	$1.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$808.6M	$1B	$1.1B	$1.1B	$1B	$1.1B	$1.1B	$1.2B	$1.3B	$1.2B
YoY change	-0.4%	+24.1%	+12%	+1.26%	-12%	+8.97%	+0.13%	+13.9%	+3.47%	-6.47%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	808.6M	1B	1.1B	1.1B	1B	1.1B	1.1B	1.2B	1.3B	1.2B
Cost of revenue	457M	603.3M	678.5M	675.9M	593.2M	652.8M	671.3M	715.8M	736.7M	719.2M
Gross profit	351.6M	399.8M	445M	461.7M	407.8M	438M	420.9M	527.8M	550M	484.3M
Gross margin	43.5%	39.9%	39.6%	40.6%	40.7%	40.2%	38.5%	42.4%	42.7%	40.2%
Research & development	34.7M	32M	30.7M	32.7M	30.1M	32.2M	31.1M	36.6M	43.8M	41.2M
Selling, general & administrative	248.6M	334.8M	356.3M	357.2M	314M	321.9M	306.3M	352.6M	391.9M	374.8M
Operating expenses	283.3M	366.8M	387M	389.9M	344.1M	354.1M	337.4M	389.2M	435.7M	416M
Operating income	68.3M	33M	58M	71.8M	63.7M	83.9M	83.5M	138.6M	114.3M	68.3M
Operating margin	8.44%	3.29%	5.16%	6.31%	6.36%	7.69%	7.65%	11.1%	8.88%	5.68%
Non-operating income, net	-825K	-11.3M	-1.9M	—	-5.2M	-2.5M	3.1M	-1.3M	-400K	-1.4M
Pretax income	66.5M	-1.3M	35.8M	54M	41.1M	74.1M	79.5M	123.8M	104.8M	57.9M
Income tax	19.9M	4.9M	2.3M	8.1M	7.4M	9.2M	13.2M	14.3M	21.1M	14.1M
Net income	46.6M	-6.2M	33.5M	45.9M	33.7M	64.9M	66.3M	109.5M	83.7M	43.8M
Net margin	5.76%	-0.62%	2.98%	4.03%	3.37%	5.95%	6.07%	8.81%	6.51%	3.64%
EBITDA	86.5M	70.8M	114.6M	126.9M	117.2M	136.7M	132.8M	188.1M	168.9M	127.3M
EPS	2.66	-0.35	1.86	2.53	1.84	3.51	3.58	5.92	4.46	2.38
Diluted EPS	2.59	-0.35	1.82	2.48	1.81	3.44	3.55	5.83	4.38	2.36

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	304.7M	311.4M	311M	331M	315.8M	328.9M	290M	318.6M	303.3M	291.6M	297.9M	324M
Cost of revenue	172.7M	180.6M	173.5M	188.3M	182M	192.9M	170M	184.5M	173.9M	190.8M	184.3M	196.1M
Gross profit	132M	130.8M	137.5M	142.7M	133.8M	136M	120M	134.1M	129.4M	100.8M	113.6M	127.9M
Gross margin	43.3%	42%	44.2%	43.1%	42.4%	41.3%	41.4%	42.1%	42.7%	34.6%	38.1%	39.5%
Research & development	9.1M	10.6M	10.1M	11.2M	10.5M	12M	9.7M	9.8M	10.5M	11.2M	10.6M	12.5M
Selling, general & administrative	88.2M	95.7M	89.9M	92.9M	92.7M	116.4M	90.7M	93.7M	96.6M	93.8M	98.1M	99.5M
Operating expenses	97.3M	106.3M	100M	104.1M	103.2M	128.4M	100.4M	103.5M	107.1M	105M	108.7M	112M
Operating income	34.7M	24.5M	37.5M	38.6M	30.6M	7.6M	19.6M	30.6M	22.3M	-4.2M	4.9M	15.9M
Operating margin	11.4%	7.87%	12.1%	11.7%	9.69%	2.31%	6.76%	9.6%	7.35%	-1.44%	1.64%	4.91%
Non-operating income, net	-1.5M	0	-100K	800K	-400K	-700K	-100K	-1.1M	-500K	300K	-600K	-1.3M
Pretax income	29.9M	22M	35.1M	36.9M	27.5M	5.3M	17.2M	27.3M	19.4M	-6M	900K	10.3M
Income tax	7M	-9M	6.7M	9M	6.7M	-1.3M	4.1M	7.1M	4.5M	-1.6M	700K	2.7M
Net income	22.9M	31M	28.4M	27.9M	20.8M	6.6M	13.1M	20.2M	14.9M	-4.4M	200K	7.6M
Net margin	7.52%	9.96%	9.13%	8.43%	6.59%	2.01%	4.52%	6.34%	4.91%	-1.51%	0.07%	2.35%
EBITDA	46.3M	38.4M	51.1M	52.5M	44.3M	21M	33.7M	45M	36.5M	12.1M	19.6M	29.9M
EPS	1.23	—	1.52	1.47	1.11	0.36	0.7	1.1	0.81	-0.23	0.01	0.44
Diluted EPS	1.21	—	1.49	1.45	1.09	0.35	0.69	1.08	0.8	-0.23	0.01	0.44

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1.2B	1.3B	934.9M	1.4B	1.3B	1.5B	1.1B	1.7B	1.5B	1.4B	1.2B
Enterprise value	1.2B	1.6B	1.2B	1.7B	1.5B	1.7B	1.4B	1.8B	1.7B	1.6B	1.5B
Shares outstanding	17.5M	17.7M	17.9M	18.1M	18.3M	18.5M	18.5M	18.5M	18.8M	18.4M	18.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	26.8	—	27.9	30.8	38.2	23.1	17.2	15.7	18.3	30.9	65.1
P/S	1.54	1.28	0.83	1.24	1.29	1.37	1.04	1.38	1.19	1.12	0.95
P/B	4.48	4.31	2.96	3.91	3.17	3.45	2.41	2.97	2.46	2.24	2.17
EV/EBITDA	14.2	22.7	10.5	13.6	12.8	12.3	10.5	9.79	9.98	12.4	13.9
EV/Sales	1.52	1.6	1.07	1.52	1.5	1.55	1.28	1.48	1.31	1.31	1.21
Earnings yield	3.74%	—	3.58%	3.25%	2.62%	4.33%	5.82%	6.38%	5.46%	3.24%	1.54%
FCF yield	2.51%	2.43%	6.25%	2.34%	8.06%	3.09%	-4.78%	9.58%	4.46%	3.17%	4.36%
PEG	—	—	—	—	—	—	—	—	—	—	-1.09

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	43.5%	39.9%	39.6%	40.6%	40.7%	40.2%	38.5%	42.4%	42.7%	40.2%	39.5%
Operating margin	8.44%	3.29%	5.16%	6.31%	6.36%	7.69%	7.65%	11.1%	8.88%	5.68%	5.31%
Net margin	5.76%	-0.62%	2.98%	4.03%	3.37%	5.95%	6.07%	8.81%	6.51%	3.64%	1.5%
ROE	16.7%	-2.08%	10.6%	12.7%	8.3%	14.9%	14%	18.9%	13.5%	7.26%	3.08%
ROA	9.92%	-0.62%	3.38%	4.32%	3.11%	6.11%	6.11%	9.83%	7.03%	3.45%	2.28%
ROIC	18.6%	5.35%	9.26%	9.07%	8.44%	11.8%	9.57%	17.4%	11.8%	6.24%	3.4%
Return on tangible assets	11.2%	-2.24%	10%	11.6%	8.13%	13.5%	11.7%	17.9%	11.9%	5.87%	2.42%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.24	1.79	1.88	1.75	1.94	1.81	2.2	2.08	1.97	2.05	2.04
Quick ratio	1.65	1.25	1.34	1.2	1.44	1.26	1.41	1.44	1.34	1.37	1.37
Debt / equity	0.13	1.26	1.12	1.07	0.87	0.71	0.7	0.42	0.41	0.55	0.73
Debt / assets	0.08	0.38	0.36	0.36	0.33	0.29	0.31	0.22	0.21	0.26	0.31
Net debt / EBITDA	-0.25	4.5	2.35	2.46	1.82	1.36	1.92	0.67	0.92	1.76	3.21
Interest coverage	53	0.95	2.54	4.03	3.36	11.2	12.2	10.2	12.5	7.43	3.02
Effective tax rate	29.9%	0%	6.42%	15%	18%	12.4%	16.6%	11.6%	20.1%	24.4%	25.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	46.1	56.7	62.6	62.8	54.6	59	59.1	67.2	68.5	65.5	68.8
EPS (basic)	2.66	-0.35	1.86	2.53	1.84	3.51	3.58	5.92	4.46	2.38	2.38
EPS (diluted)	2.59	-0.35	1.82	2.48	1.81	3.44	3.55	5.83	4.38	2.36	1.04
Book value per share	15.9	16.9	17.6	19.9	22.1	23.5	25.5	31.2	33.1	32.9	31.2
FCF per share	1.79	1.77	3.26	1.82	5.66	2.5	-2.94	8.88	3.64	2.34	-0.18
Cash per share	3.31	3.3	4.77	4.09	7.65	6.65	4.17	6.32	5.3	5.78	4.54
Capex per share	1.48	1.01	1.04	2.11	1.62	0.09	1.33	1.25	1.1	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.2%	1.78%	1.66%	3.37%	2.98%	0.15%	2.25%	1.87%	1.6%	—	—
Capex / operating cash flow	49.8%	34%	23.6%	58.7%	23.1%	2.41%	-103.8%	12.5%	23.9%	—	—
Payout ratio	30.7%	-241.9%	45.7%	34.9%	48.4%	27%	28.5%	18.4%	25.6%	50%	117.8%
Dividend yield	1.15%	1.17%	1.64%	1.13%	1.27%	1.17%	1.66%	1.17%	1.4%	1.62%	1.82%

Yield

1.82%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.31

ex-dividend Aug 31, 2026

Payout ratio

118%

of earnings

Dividend growth

19 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 2026	$0.31
May 29, 2026	$0.31
Feb 27, 2026	$0.31

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$304.7M	$311.4M	$311M	$331M	$315.8M	$328.9M	$290M	$318.6M	$303.3M	$291.6M	$297.9M	$324M
YoY change	+15.9%	+7.01%	+1.7%	+2.89%	+3.64%	+5.62%	-6.75%	-3.75%	-3.96%	-11.3%	+2.72%	+1.69%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	58M	58.4M	85.6M	74.1M	140.4M	123.1M	77.2M	116.9M	99.6M	106.2M
Receivables	145.3M	203.3M	208M	216.5M	199.9M	211.4M	251.5M	247.6M	259.1M	256.8M
Inventory	78.6M	127.7M	135.1M	150.1M	127.7M	160.6M	206.6M	175.9M	183.8M	198.5M
Total current assets	297.9M	423.1M	468.6M	481M	493.6M	526.8M	575.3M	569.1M	576.6M	599.7M
Property, plant & equipment	53.5M	83.8M	69.7M	121.2M	98.5M	88.4M	62.7M	91.8M	104.9M	102.7M
Goodwill & intangibles	55M	716.8M	658.4M	665.6M	668M	582.2M	516.8M	501M	488.6M	522.4M
Total assets	470M	994M	992.5M	1.1B	1.1B	1.1B	1.1B	1.1B	1.2B	1.3B
Accounts payable	47.4M	96.1M	98.4M	94.1M	106.3M	121.5M	126.1M	111.4M	126.9M	127.5M
Short-term debt	3.5M	30.9M	27M	48M	27.2M	20.6M	20.2M	20.8M	19.8M	22.1M
Total current liabilities	132.8M	236.5M	248.9M	274.9M	254.3M	290.3M	261.6M	273.7M	292.2M	293.1M
Long-term debt	32.7M	346M	328.1M	337.8M	326.3M	288.8M	312.2M	221.6M	234.5M	308.7M
Total liabilities	191.5M	695.5M	676.2M	701.6M	676.5M	626.6M	613M	535.1M	568M	665.5M
Shareholders' equity	278.5M	298.5M	316.3M	361.3M	406.1M	435.1M	472.1M	578.3M	622.1M	603.4M
Total debt	36.2M	376.8M	355.1M	385.8M	353.5M	309.4M	332.4M	242.4M	254.3M	330.8M
Net debt	-21.8M	318.4M	269.5M	311.7M	213.1M	186.3M	255.2M	125.5M	154.7M	224.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	97M	—	—	—	—	—	—	—	99.4M	106.2M	82.6M	76.9M
Receivables	241.9M	—	—	—	—	—	—	—	249.3M	256.8M	280.6M	286.3M
Inventory	184.6M	—	—	—	—	—	—	—	205.9M	198.5M	204.6M	201.9M
Total current assets	554.6M	—	—	—	—	—	—	—	598.3M	599.7M	611.1M	613.8M
Property, plant & equipment	214.4M	—	—	—	—	—	—	—	246.8M	102.7M	241M	242.1M
Goodwill & intangibles	489.4M	—	—	—	—	—	—	—	528.4M	522.4M	524.8M	513.8M
Total assets	1.1B	—	—	—	—	—	—	—	1.3B	1.3B	1.3B	1.3B
Accounts payable	98.5M	—	—	—	—	—	—	—	110.6M	127.5M	123.1M	112.9M
Short-term debt	5.9M	—	—	—	—	—	—	—	400K	22.1M	400K	500K
Total current liabilities	244.8M	—	—	—	—	—	—	—	281.5M	293.1M	288.6M	300.2M
Long-term debt	235.2M	—	—	—	—	—	—	—	272.6M	308.7M	392.1M	391.3M
Total liabilities	513M	—	—	—	—	—	—	—	614.2M	665.5M	743.6M	735.6M
Shareholders' equity	546.3M	—	—	—	—	—	—	—	642.7M	603.4M	533M	535.2M
Total debt	241.1M	—	—	—	—	—	—	—	273M	330.8M	392.5M	391.8M
Net debt	144.1M	—	—	—	—	—	—	—	173.6M	224.6M	309.9M	314.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	46.6M	-6.2M	33.5M	45.9M	33.7M	64.9M	66.3M	109.5M	83.7M	43.8M
Depreciation & amortization	18.3M	43.3M	54.4M	54.4M	53.4M	53.1M	48.7M	51.1M	55.1M	58.7M
Stock-based compensation	3.9M	5.9M	8.3M	11.4M	6M	9.5M	7.8M	11.6M	11.9M	10.4M
Change in working capital	-15.4M	100K	-8.1M	-37.8M	37.7M	-48.4M	-131.9M	38.4M	-55.2M	-60.5M
Operating cash flow	52M	52.6M	79.2M	65.3M	129M	66.4M	-23.7M	185M	86.3M	65M
Capital expenditure	-25.9M	-17.9M	-18.7M	-38.3M	-29.8M	1.6M	-24.6M	-23.2M	-20.6M	—
Investing cash flow	-40.6M	-372.8M	-13.3M	-55.1M	-29.8M	26.4M	-24.5M	-23.2M	-78.4M	-3.2M
Dividends paid	-14.3M	-15M	-15.3M	-16M	-16.3M	-17.5M	-18.9M	-20.1M	-21.4M	-21.9M
Share repurchases	-12.8M	0	0	0	0	-15M	-5M	-21.7M	-19.6M	-88.5M
Financing cash flow	-9.6M	319.1M	-28.9M	-27.2M	-42.6M	-84.6M	61M	-141.8M	-44.8M	-36.2M
Net change in cash	1.9M	-1.1M	37M	-17M	56.6M	8.2M	12.8M	20M	-36.9M	25.6M
Free cash flow	31.4M	31.3M	58.4M	33M	103.8M	46.3M	-54.4M	164.4M	68.3M	42.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	22.9M	31M	28.4M	27.9M	20.8M	6.6M	13.1M	20.2M	14.9M	-4.4M	200K	7.6M
Depreciation & amortization	12.7M	13.7M	13.5M	13.8M	13.7M	14.1M	14M	14.7M	14.7M	15.3M	14.9M	15M
Stock-based compensation	4.7M	3M	3.2M	2.1M	4.1M	2.5M	3.2M	2.6M	2.8M	1.8M	1.5M	2.1M
Change in working capital	14.3M	34.6M	-41.6M	-25.5M	-8.7M	20.6M	-32.1M	-17M	-15.3M	3.9M	-51.7M	-21.8M
Operating cash flow	52.9M	63.6M	2.6M	18.3M	29.5M	35.9M	-1.1M	22.5M	28.7M	14.2M	-31.2M	5M
Capital expenditure	-3.2M	-8M	-3M	-4.1M	-4.2M	-9.3M	-6.9M	—	—	—	—	—
Investing cash flow	-3.2M	-8M	-60.6M	-4.3M	-4.2M	-9.3M	-6.9M	0	-3.2M	0	-7.2M	0
Dividends paid	-5M	-5.3M	-5.3M	-5.3M	-5.3M	-5.5M	-5.6M	-5.4M	-5.4M	-5.5M	-5.5M	-5.3M
Share repurchases	-1.7M	-10M	-1.1M	-8M	-8M	-2.5M	-20.2M	-13.4M	-22.7M	-32.2M	-60M	-500K
Financing cash flow	-62.9M	-36.6M	7.4M	-14.6M	-18.3M	-17.1M	-11.6M	-18.8M	-3.1M	-2.7M	19.5M	-5.8M
Net change in cash	-13.2M	19M	-50.6M	-600K	7M	9.5M	-19.6M	3.7M	22.4M	11.5M	-18.9M	-800K
Free cash flow	50.9M	55.6M	-300K	14.3M	26.3M	28M	-7.5M	18.6M	22.2M	9.6M	-34.5M	-400K

Date	Ratio
Jul 26, 2006	2:1
Apr 27, 1995	2:1
Mar 16, 1981	2:1

Tennant Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history