Tennant Company

TNC Industrials Specialty Industrial Machinery

Tennant Company’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, down 6.47% from fiscal 2024. In the quarter to June 2026, revenue grew 1.69%, EPS fell 59.1%, free cash flow fell 101.6% and total debt rose 67.9%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years; insiders bought in the last twelve months.

65.35 0.65 −0.98%
Market cap
$1.1B
P/E
62.8×
Fwd P/E
22.2×
Dividend yield
1.90%
F-score
5/9
Altman Z
3.33
Beneish M
−2.54
Dividend safety
81/100
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
P/E ratio
27.19 0.00 28.02 30.80 38.14 23.09 17.31 15.46 18.28 30.97
Piotroski F-Score
8 2 6 6 6 6 5 7 5 5
P/S ratio
1.57 1.31 0.83 1.24 1.29 1.37 1.05 1.36 1.19 1.12
Altman Z-Score
7.48 2.87 2.87 3.19 3.00 3.56 3.32 4.46 4.02 3.33
Altman Z″-Score (non-manufacturers)
7.01 2.88 3.37 3.33 3.57 4.04 4.62 5.31 5.03 4.51
P/FCF ratio
39.80 38.92 15.98 42.65 12.39 20.12 0.00 10.24 22.33 30.35
Beneish M-Score
(2.41) (1.81) (2.71) (2.52) (2.99) (2.48) (1.91) (2.78) (2.43) (2.54)
P/Operating CF
51.72 59.59 25.68 54.93 35.47 230.65 83.87 26.55 40.85 95.32
Dividend Safety Score
— — — — — — — — — 81
P/B ratio
4.57 4.41 2.96 3.91 3.17 3.45 2.43 2.93 2.46 2.24
Price to Tangible BV
5.07 0.00 0.00 49.54 17.86 10.41 5.38 5.17 4.05 3.96
EV/Sales
1.55 1.63 1.07 1.47 1.45 1.51 1.26 1.43 1.27 1.26
EV/EBITDA
14.44 20.91 10.49 13.28 12.43 11.19 10.10 9.37 9.63 11.97
EV/Operating CF
21.59 30.14 15.05 23.31 10.88 23.68 (54.66) 9.43 18.19 23.40
EV/FCF
39.10 48.33 20.58 50.63 14.01 22.06 (27.28) 10.75 23.78 34.10
Quick Ratio
1.56 1.14 1.21 1.08 1.34 1.15 1.26 1.33 1.23 1.24
Current Ratio
2.24 1.79 1.88 1.75 1.94 1.81 2.20 2.08 1.97 2.05
Net Debt/EBITDA
(0.26) 4.07 2.34 2.09 1.43 0.98 1.64 0.44 0.59 1.32
Debt/Assets
7.70% 37.91% 35.78% 31.88% 28.50% 25.20% 27.67% 18.02% 16.76% 21.56%
Debt/Equity
0.13 1.26 1.12 0.94 0.76 0.62 0.64 0.35 0.32 0.45
Asset Turnover
1.79 1.37 1.13 1.11 0.93 1.02 1.02 1.13 1.12 0.98
Operating CF/Net income
1.24 (8.74) 2.40 1.57 3.97 1.07 (0.38) 1.72 1.07 1.48
Capex/Depreciation
(1.42) (0.45) (0.38) (0.71) (0.56) 0.10 (0.51) (0.45) (0.38) (0.34)
Interest Coverage
53.37 1.30 2.49 4.03 3.66 12.84 12.28 10.27 12.56 7.59
ROE
17.57% (2.15%) 10.87% 13.52% 8.78% 15.43% 14.62% 20.85% 13.95% 7.15%
ROA
10.33% (0.85%) 3.36% 4.46% 3.14% 6.05% 6.18% 9.96% 7.27% 3.56%
ROIC
16.65% 3.35% 6.19% 7.17% 6.94% 10.11% 7.84% 13.09% 9.90% 5.54%
Return on Tangible Assets
16.82% (1.69%) 8.72% 12.07% 7.93% 15.86% 13.43% 22.67% 17.85% 8.82%
Average Days of Receivables
67.32 76.24 70.24 71.65 72.89 70.74 84.05 72.67 73.50 77.88
Research and Development Expense of Revenue
4.30% 3.19% 2.73% 2.87% 3.01% 2.95% 2.85% 2.94% 3.40% 3.42%
Selling, General and Administrative Expense of Revenue
30.74% 33.38% 31.71% 31.40% 31.37% 29.51% 28.04% 28.35% 30.46% 31.14%
Intangible Assets out of Total Assets
0.06 0.36 0.33 0.31 0.31 0.27 0.24 0.23 0.21 0.21
Share Based Compensation of Revenue
0.48% 0.59% 0.74% 1.00% 0.60% 0.87% 0.71% 0.93% 0.92% 0.86%
Graham Net Nets
0.08 (0.21) (0.22) (0.16) (0.14) (0.07) (0.03) 0.02 0.01 (0.05)
Graham Number
30.90 0.00 27.16 33.69 30.27 43.10 45.41 64.51 57.64 41.94
Earnings Yield
3.68% (0.47%) 3.57% 3.25% 2.62% 4.33% 5.78% 6.47% 5.47% 3.23%
Free Cash Flow Yield
2.51% 2.57% 6.26% 2.34% 8.07% 4.97% (4.38%) 9.76% 4.48% 3.29%
Revenue per Share
46.14 56.69 62.63 62.79 54.55 58.96 59.06 67.19 68.49 65.53
Operating CF per Share
3.30 3.06 4.46 3.97 7.29 3.75 (1.36) 10.18 4.77 3.54
Capex per Share
(1.48) (1.15) (1.20) (2.14) (1.63) 0.28 (1.35) (1.23) (1.11) (1.10)
Free Cash Flow per Share
1.82 1.91 3.26 1.83 5.66 4.03 (2.71) 8.95 3.66 2.44
Cash per Share
3.34 3.34 4.80 4.12 7.68 6.68 4.19 6.33 5.31 5.79
Shareholders Equity per Share
15.90 16.87 17.63 19.94 22.13 23.52 25.53 31.24 33.11 32.85
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
15.90 16.87 17.63 19.94 22.13 23.52 25.53 31.24 33.11 32.85
Free Cash Flow
31.97 33.80 58.50 33.10 103.90 74.60 (50.10) 165.60 68.80 44.80
Working Capital
165.09 186.61 219.70 206.10 239.30 236.50 313.70 295.40 284.40 306.60
Capital Expenditures
(25.91) (20.40) (21.50) (38.80) (29.90) 5.20 (25.00) (22.80) (20.90) (20.20)
Net Current Asset Value
106.43 (272.39) (207.60) (220.60) (182.90) (99.80) (37.70) 34.00 8.60 (65.80)
EV/EBIT
18.31 49.50 20.76 23.34 22.84 17.54 15.73 12.82 14.27 22.27
Capex to Sales
0.03 0.02 0.02 0.03 0.03 0.00 0.02 0.02 0.02 0.02
Price to Operating Income
18.64 39.87 16.12 19.66 20.21 16.00 13.18 12.22 13.40 19.82
Other line items
Depreciation/Fixed assets
0.16 0.25 0.35 0.31 0.29 0.31 0.27 0.27 0.30 0.31
Cash ROIC
8.56% 4.60% 7.72% 4.27% 12.14% 9.03% (5.90%) 18.48% 7.47% 4.56%
Accounts Receivable Turnover
5.58 5.59 5.28 5.18 4.73 5.30 4.72 4.98 5.08 4.67
Accounts Payable Turnover
9.35 8.41 6.98 7.02 5.92 5.73 5.42 6.03 6.18 5.65
Inventory Turnover
5.86 5.85 5.16 4.74 4.27 4.53 3.66 3.74 4.10 3.76
Average Days of Payables
37.87 58.13 52.93 50.82 65.41 67.93 68.56 56.81 62.87 64.71
Days of Inventory on Hand
62.80 77.26 72.68 81.06 78.57 89.80 112.33 89.69 91.06 100.74
Average Receivables
144.79 179.33 212.86 219.75 211.60 205.65 231.45 249.55 253.35 257.95
Average Payables
48.88 71.75 97.24 96.25 100.20 113.90 123.80 118.75 119.15 127.20
Average Inventory
77.96 103.16 131.40 142.60 138.90 144.15 183.60 191.25 179.85 191.15
Average Assets
451.17 732.01 993.24 1,027.70 1,072.75 1,072.15 1,073.40 1,099.25 1,151.75 1,229.50
Average Common Equity
265.38 288.51 307.39 338.80 383.70 420.60 453.60 525.20 600.20 612.75

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