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

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