TNCNYSERefrigeration & Service Industry MachineryFiscal year ends December 31
TENNANT CO
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$64.57−0.78 (-1.19%)
Close on Oct 19, 2026
- Market cap
- $1.11B
- P/E (TTM)
- 63.9
- Dividend yield
- 1.85%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
40.2%−0.5 pts over 5 years
Operating margin
5.7%−0.7 pts over 5 years
Net margin
3.6%+0.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -6.5% | +3.3% | +3.8% | +4.0% | |
| Gross profit | -11.9% | +4.8% | +3.5% | +3.3% | |
| Operating income | -40.2% | -7.8% | +1.4% | +2.5% | |
| Net income | -47.7% | -12.9% | +5.4% | +3.2% | |
| EPS, diluted | -46.1% | -12.7% | +5.5% | +3.1% | |
| Free cash flow | -37.1% | – | -16.1% | +7.8% | |
| Dividend per share | +5.3% | +5.6% | +6.1% | +4.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 17.6% | 8.8% | 7.2% | |
| Return on assets | 10.3% | 3.1% | 3.6% | |
| Current ratio | 2.24 | 1.94 | 2.05 | |
| Debt to equity | 0.13 | 0.76 | 0.45 | |
| Interest coverage | 53.4× | 3.7× | – | |
| Inventory turnover | 5.9× | 4.3× | 3.8× | |
| Capex to revenue | 3.3% | 3.0% | 1.8% | |
| Diluted shares | 18M | 19M | 19M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Tennant generated $437.60M from operations and spent $359.40M on capital expenditure, dividends and share buybacks. 31% of that went back into the business.
Generated
$437.60M
Used
$359.40M
Capital expenditure$109.80M31%Dividends$99.80M28%Share buybacks$149.80M42%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin3.6%
×Asset turnover0.98×
×Equity multiplier2.01×
=Return on equity, FY20257.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 3.6% | 0.98× | 2.01× | 7.2% |
| FY2024 | 6.5% | 1.12× | 1.92× | 14.0% |
| FY2023 | 8.8% | 1.13× | 2.10× | 20.9% |
| FY2022 | 6.1% | 1.02× | 2.37× | 14.7% |
| FY2021 | 5.9% | 1.02× | 2.56× | 15.5% |
| FY2020 | 3.4% | 0.93× | 2.81× | 8.8% |
| FY2019 | 4.0% | 1.11× | 3.05× | 13.6% |
| FY2018 | 3.0% | 1.13× | 3.25× | 10.9% |
| FY2017 | -0.6% | 1.37× | 2.55× | -2.2% |
| FY2016 | 5.8% | 1.79× | 1.70× | 17.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$43.80M
- Cash generatingOperating cash flow above zero$65.00M
- Return on assets improvedROA up on the prior year7.5% → 3.7%
- Earnings backed by cashOperating cash flow above net income$65.00M vs $43.80M
- Less leverageLong-term debt to assets fell16.7% → 21.5%
- Better liquidityCurrent ratio rose1.97 → 2.05
- No dilutionShare count did not rise19M → 19M
- Gross margin improvedGross margin up on the prior year42.75% → 40.24%
- More efficientAsset turnover rose1.16 → 1.01