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TNC

Tennant Company

TNC

Tennant Company • NYSE
$73.13 ▼ -0.45% (-0.33)
Market Cap $1.36 B
52w High $90.44
52w Low $67.32
Dividend Yield 1.20%
P/E 25.04
Volume 58.82K
Outstanding Shares 18.57M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $303.3M ▼ $107.1M ▲ $14.9M ▼ 4.913% ▼ $0.81 ▼ $36.5M ▼
Q2-2025 $318.6M ▲ $103.5M ▲ $20.2M ▲ 6.34% ▲ $1.1 ▲ $44.2M ▲
Q1-2025 $290M ▼ $100.4M ▼ $13.1M ▲ 4.517% ▲ $0.7 ▲ $33.5M ▲
Q4-2024 $328.9M ▲ $128.4M ▲ $6.6M ▼ 2.007% ▼ $0.36 ▼ $21M ▼
Q3-2024 $315.8M $103.2M $20.8M 6.586% $1.11 $43.9M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $99.4M ▲ $1.257B ▲ $614.2M ▲ $640.9M ▼
Q2-2025 $80.1M ▲ $1.242B ▲ $587.8M ▲ $651.9M ▲
Q1-2025 $79.5M ▼ $1.18B ▼ $554.2M ▼ $624.4M ▲
Q4-2024 $99.6M ▲ $1.19B ▼ $568M ▲ $620.8M ▼
Q3-2024 $91.3M $1.216B $567.6M $647.2M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $14.9M ▼ $28.7M ▲ $-7.7M ▼ $-3.2M ▲ $19.3M ▲ $22.2M ▲
Q2-2025 $20.2M ▲ $22.5M ▲ $-3.7M ▲ $-19.1M ▼ $600K ▲ $18.6M ▲
Q1-2025 $13.1M ▲ $-400K ▼ $-6.9M ▲ $-13.7M ▲ $-20.3M ▼ $-7.4M ▼
Q4-2024 $6.6M ▼ $37.5M ▲ $-9.3M ▼ $-17.1M ▲ $8.5M ▲ $28M ▲
Q3-2024 $20.8M $30.7M $-4.2M $-20.5M $6.7M $26.3M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Equipment Sales
Equipment Sales
 $210.00M ▲$170.00M ▼$200.00M ▲$180.00M ▼
Parts and Consumables
Parts and Consumables
 $70.00M ▲$70.00M ▲$70.00M ▲$70.00M ▲
Service and Other
Service and Other
 $50.00M ▲$50.00M ▲$50.00M ▲$50.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Tennant’s sales have grown steadily over the last several years, with a clear step up coming after the pandemic period. Profitability has generally improved as revenue has risen, with healthier gross margins indicating better pricing power, product mix, or cost control. Operating and net income climbed to a high point recently, then eased back in the latest year, suggesting some pressure from higher costs, investments in growth, or a less favorable mix. Even so, current profit levels remain meaningfully better than earlier in the five‑year period, pointing to a structurally stronger earnings base rather than a one‑off spike.

Balance Sheet

Balance Sheet The balance sheet looks conservative and gradually stronger over time. Total assets have inched up, reflecting organic growth rather than aggressive expansion. Debt levels are moderate and have drifted down from earlier years relative to the size of the business, while shareholders’ equity has risen steadily. This combination points to a company funding growth largely through its own earnings, with manageable leverage and a cushion to absorb normal business volatility.

Cash Flow

Cash Flow Cash generation has been broadly solid, with one year of weaker operating cash flow that appears to have been an outlier, likely tied to working capital swings rather than a structural problem. In most years, the business converts earnings into cash reasonably well and still has money left over after capital spending. Investment in equipment and facilities has been steady and not excessive, which supports ongoing product development and manufacturing efficiency without straining finances. Overall, the cash profile fits a mature industrial company that can fund its own innovation and shareholder returns under normal conditions.

Competitive Edge

Competitive Edge Tennant holds a strong niche position in professional cleaning equipment, supported by a long history, a reputation for durable machines, and deep relationships with commercial and industrial customers. Its direct sales and service network is a major differentiator: buyers rely not just on the machines, but on training, maintenance, and uptime, which makes switching to competitors harder. The company competes with several sizable global peers, so pricing pressure and innovation races are ongoing, but Tennant’s brand strength, installed base, and service capabilities create a meaningful moat that favors incumbency and repeat business.

Innovation and R&D

Innovation and R&D Innovation is a central pillar of Tennant’s strategy. The company has developed distinctive technologies such as detergent‑free cleaning systems, data‑driven fleet management tools, and a growing line of autonomous cleaning robots. These offerings address real customer pain points like labor shortages, operating costs, and sustainability requirements. Tennant tends to design solutions specifically for autonomy and low‑chemical cleaning rather than simply retrofitting older products, which can result in better performance and user experience. The pipeline of new machines and software, plus a base of patents around key technologies, suggests continued focus on R&D, though the company must keep moving quickly to stay ahead of fast‑evolving competitors in robotics and smart equipment.

Summary

Overall, Tennant looks like a mature industrial business that has steadily improved its financial foundation while pushing hard into higher‑value, technology‑rich solutions. Revenue and margins are higher than they were earlier in the period, the balance sheet is sound, and cash flow is generally supportive of ongoing investment. Strategically, the company is leaning into automation and sustainable cleaning, which align with long‑term trends in labor and environmental regulation. Key things to watch include how well Tennant maintains its margin gains in a more competitive environment, the pace of adoption of its autonomous and green technologies, and the company’s ability to smooth out occasional swings in cash generation as it grows.

NEWS

November 3, 2025 · 4:00 PM UTC

Tennant Company Reports Third Quarter 2025 Results

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October 29, 2025 · 9:00 AM UTC

Tennant Company Increases Dividend

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October 22, 2025 · 9:00 AM UTC

Tennant Company to Report Third Quarter 2025 Results on November 3, 2025

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October 16, 2025 · 9:21 AM UTC

Steve Tennant appointed to EMEA leadership role of Grant Thornton Advisors expanded multinational platform

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October 14, 2025 · 9:00 AM UTC

Tennant Company Introduces the T360: Intuitive, Simple, Mid-Sized Self-Propelled Walk-Behind Scrubber

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