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Stock research / United States / TNC · Refrigeration & Service Industry Machinery · NYSE

Tennant Co. (TNC)

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Tennant Co. (TNC) reported revenue of $324 million for Q2 FY2026, the quarter ended 30 June 2026, up 1.7% on the same quarter a year earlier. Net income was $8 million, down 62.4% on the year, and diluted earnings per share $0.44. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$324 millionup 1.7%
Net income$8 milliondown 62.4%
Diluted EPS$0.44
QuarterQ2 FY2026ended 30 June 2026

Tennant (TNC) in brief

Tennant (TNC) reported revenue of $1.2 billion for fiscal 2025, the year ended 31 December 2025, down 6.5% on the year before.
Read moreNet income was $44 million and diluted earnings per share $2.36. Revenue was $1.3 billion in fiscal 2024, $1.2 billion in fiscal 2023, $1.1 billion in fiscal 2022 and $1.1 billion in fiscal 2021. Net income in the same years was $84 million, $110 million, $66 million and $65 million. Over the twelve months to 30 June 2026, Tennant reported revenue of $1.2 billion and net income of $18 million. Revenue grew 3.8% a year, compounded, over the five years to fiscal 2025. Tennant declared $1.20 a share in dividends over the last four quarters and had 17 million shares outstanding at the latest filed count. At 30 June 2026 it carried $358 million of debt and $77 million of cash. At the close of 9 October 2026 the market cap of Tennant was $1.1 billion, 63.5 times its earnings over the last twelve months.

Ratios

From the filings

ROE3.4%
ROCE4.4%
Operating margin3.2%
Net margin1.5%
FCF margin-0.2%
Interest covern/a
Debt to equity0.67
Cash conversion0.91
Share count, 1 year-8.0%
Sales CAGR, 3 years3.3%
Profit CAGR, 3 years-12.9%
EPS, TTM$1.04

At the close of 9 October 2026

Price$66.01
Market cap$1.1 billion
Stock P/E63.47
Price to book2.11
EV / EBITDA14.24
Dividend yield1.8%
Market cap / sales0.92
52-week high$91.15
52-week low$60.91
Price, 1 year-17.2%
Price CAGR, 3 years-5.0%
Price CAGR, 5 years-3.1%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the one borrowings figure Tennant Co. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.
TNCgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TNC

Filings18 in twelve months: 10 current reports (8-K), about 4 results of operations; 4 officer or director change; 2 regulation FD disclosure; 1 shareholder vote; 1 material agreement
Planned insider sales4 Form 144 notices in twelve months, $1.1 million; latest 7 May 2026
Options tapeput/call 1.26 by open interest at the 9 October 2026 close; the straddle prices a 11.3% move to 16 October 2026
13F holders6 of the followed funds hold it; largest FMR LLC; 7 Schedule 13D or 13G filings in twelve months
Insider trading4 sales and 9 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest1.3 million shares short, 7.52 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue305311311331316329290319303292298324
Cost of revenue173181174188182193170184174191184196
Gross profit132131138143134136120134129101114128
Gross margin43%42%44%43%42%41%41%42%43%35%38%39%
R&D9.110.610.111.210.512.09.79.810.511.210.612.5
SG&A88.295.789.992.992.711690.793.796.693.898.199.5
Operating income34.724.537.538.630.67.619.630.622.3-4.24.915.9
Operating margin11%8%12%12%10%2%7%10%7%-1%2%5%
Interest expense3.3n/a2.32.52.7n/a2.32.22.4n/a3.44.3
Pre-tax income29.922.035.136.927.55.317.227.319.4-6.00.910.3
Tax rate23%-41%19%24%24%-25%24%26%23%n/a78%26%
Net income22.931.028.427.920.86.613.120.214.9-4.40.27.6
Net margin8%10%9%8%7%2%5%6%5%-2%0%2%
Diluted EPS$1.21$1.64$1.49$1.45$1.09$0.35$0.69$1.08$0.80-$0.21$0.01$0.44
Operating cash flow54.463.82.918.630.737.5-0.422.528.714.2-31.25.0
Capital expenditure3.57.53.04.24.39.47.03.86.44.53.25.3
Free cash flow50.956.3-0.114.426.428.1-7.418.722.39.7-34.4-0.3
Buybacks1.710.01.18.08.02.520.213.422.732.260.00.5
Dividends paid5.05.35.35.35.35.55.65.45.45.55.55.3
Shares outstanding19m19m19m19m19m19m19m19m18m18m17m17m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021FY2022FY2023 †FY2024FY2025TTM
Revenue8228128091,0031,1241,1381,0011,0911,0921,2441,2871,2041,217
Cost of revenue470463457603678676593653671716737719745
Gross profit352349352400445462408438421528550484472
Gross margin42.9%43.0%43.5%39.9%39.6%40.6%40.7%40.2%38.5%42.4%42.7%40.2%38.8%
Research and development29.432.434.732.030.732.730.132.231.136.643.841.244.8
Selling, general and administrative251252248335356357314322306353392375388
Operating income72.153.268.333.058.071.863.793.787.213911468.338.9
Operating margin8.8%6.6%8.4%3.3%5.2%6.3%6.4%8.6%8.0%11.1%8.9%5.7%3.2%
Interest expense1.71.31.325.423.317.817.47.3n/an/an/an/an/a
Pre-tax income69.550.466.5-1.335.854.041.174.179.512410557.924.6
Income tax18.918.319.94.92.38.17.49.213.214.321.114.16.3
Effective tax rate27.2%36.4%29.9%n/a6.4%15.0%18.0%12.4%16.6%11.6%20.1%24.4%25.6%
Net income50.732.146.6-6.233.445.833.764.966.311083.743.818.3
Net margin6.2%4.0%5.8%-0.6%3.0%4.0%3.4%5.9%6.1%8.8%6.5%3.6%1.5%
Diluted EPS$2.70$1.74$2.59-$0.35$1.82$2.48$1.81$3.44$3.55$5.83$4.38$2.36$1.04
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Equipment77680971559.4%
Parts and consumables28027427622.9%
Service and other18820421317.7%
EquipmentParts and consumablesService and other
1,244FY20231,287FY20241,204FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States72776767155.7%
Europe, Middle East and Africa (EMEA)31431833527.8%
Other Americas11412212110.1%
Asia Pacific (APAC)88.979.776.96.4%
United StatesEurope, Middle East and Africa (EMEA)Other AmericasAsia Pacific (APAC)
1,244FY20231,287FY20241,204FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021FY2022FY2023 †FY2024FY2025TTM
Operating cash flow59.445.257.954.280.071.913469.4-25.118889.765.016.7
Capital expenditure19.624.826.520.418.838.429.919.425.022.820.921.719.4
Free cash flow39.820.531.433.761.233.510450.0-50.116668.843.3-2.7
Free cash flow margin4.8%2.5%3.9%3.4%5.4%2.9%10.4%4.6%-4.6%13.3%5.3%3.6%-0.2%
Cash from investing-17.9-23.6-40.6-375-16.1-55.6-29.91.7-24.5-23.2-78.4-22.7-27.5
Cash from financing-28.0-61.4-9.6319-32.8-27.4-42.8-84.58.1-123-25.2-38.75.5
Depreciation and amortisation20.118.018.343.354.454.453.453.148.751.155.158.759.9
Share-based compensation7.38.23.95.98.311.46.09.57.811.611.910.48.2
Buybacks14.146.012.80.00.00.00.015.05.021.719.688.5115
Dividends paid14.514.514.315.015.316.016.317.518.920.121.421.921.7
Dividend per share$0.78$0.80$0.81$0.84$0.85$0.88$0.89$0.94$1.01$1.07$1.14$1.20n/a
Diluted shares, weighted19m18m18m18m18m18m19m19m19m19m19m19m17m
Shares outstanding at period end18m18m18m18m18m18m19m16m19m19m19m18m17m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021FY2022FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity281252279297314360405434471577621602533
Non-controlling interestn/an/a0.02.01.91.41.31.31.31.31.31.81.8
Debt24.621.232.7346328308312268300201200274358
Operating lease liabilitiesn/an/an/an/a0.030.328.725.417.127.436.335.532.4
Finance lease liabilitiesn/an/an/an/an/a0.00.00.10.10.40.70.7n/a
Other liabilities182159159350348364336334296307332356345
Total liabilities and equity4874324709949931,0631,0831,0621,0851,1131,1901,2691,271
Owned
Fixed assets86.595.0112180163173186173180n/an/an/an/a
Goodwill18.416.821.1186183195208193182187186209208
Intangible assets15.63.26.517214713812698.076.463.158.752.648.6
Securities held for sale or to maturityn/an/an/an/an/an/an/an/an/a0.012.311.811.8
Cash and equivalents93.051.358.058.485.674.614112477.411799.810676.9
Receivables147136145203208216200211252248259257286
Inventory80.577.378.6128135150128161207176184198202
Other assets45.752.448.566.271.211694.5102111322391434437
Total assets4874324709949931,0631,0831,0621,0851,1131,1901,2691,271
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded4.0%3.8%3.3%-2.9%
Profit growth, compounded3.2%5.4%-12.9%-69.9%
Return on equity, average11.5%13.8%13.2%7.3%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Tennant's revenue in fiscal 2025?

Tennant (TNC) reported revenue of $1.2 billion for fiscal 2025, the year ended 31 December 2025, down 6.5% on the year before.

How much did Tennant earn in fiscal 2025?

Net income was $44 million for fiscal 2025, and diluted earnings per share $2.36.

What is Tennant's P/E ratio?

At the close of 9 October 2026, Tennant traded at 63.5 times its earnings over the twelve months to 30 June 2026.

What is Tennant's market cap?

The market cap of Tennant was $1.1 billion at the close of 9 October 2026.

Does Tennant pay a dividend?

Yes. Tennant declared $1.20 a share in dividends over the four quarters to 30 June 2026.

Peers: Machinery

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Middleby Corp. MIDD$4.8 billionn/a-21.3%16.5%8.4%0.88n/a
Standex International Corp. SXI$3.4 billion32.9613.9%21.7%12.8%0.690.5%
Dnow Inc. DNOW$2.8 billionn/an/an/a69.8%0.23n/a
Kennametal Inc. KMT$2.4 billion7.2521.8%20.1%19.8%0.442.5%
Hayward Holdings, Inc. HAYW$2.4 billion15.3210.1%21.1%7.8%0.590.0%
Innovex International, Inc. INVX$1.9 billion31.535.8%10.0%15.0%0.02n/a
Alamo Group Inc. ALG$1.8 billion18.298.5%8.9%4.1%0.220.8%
Enerpac Tool Group Corp. EPAC$1.8 billion19.7522.0%21.2%4.3%0.440.1%
Azenta, Inc. AZTA$1.7 billionn/a-8.1%-28.6%4.8%0.000.3%
Lindsay Corp. LNN$1.1 billion21.5511.1%9.9%-7.4%0.231.3%
Tennant Co. TNC$1.1 billion63.473.4%3.2%-2.9%0.671.8%
Astec Industries Inc. ASTE$890 million45.532.8%3.4%18.7%0.531.3%
All 60 in Machinery
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
ASML Holding N.V. ASML *$686.2 billion64.0049.0%34.6%15.6%0.22n/a
Lam Research Corp. LRCX$398.9 billion55.3558.3%35.3%26.0%0.300.3%
Caterpillar Inc. CAT$367.9 billion34.4555.9%17.5%18.4%1.440.7%
Deere & Co. DE$167.4 billion34.4917.4%13.4%8.0%2.281.0%
Eaton Corp. plc ETN$166.9 billion43.7118.9%n/a15.5%0.911.0%
Johnson Controls International plc JCI$96.0 billion27.3826.5%n/a6.8%0.621.0%
Illinois Tool Works Inc. ITW$75.2 billion23.94110.3%26.5%4.3%3.352.4%
Cummins Inc. CMI$72.0 billion26.7421.1%11.2%2.9%0.521.5%
Baker Hughes Co. BKR$56.3 billion18.2915.6%n/a0.4%0.82n/a
Carrier Global Corp. CARR$46.1 billion38.329.1%7.8%-1.6%0.771.2%
Ingersoll Rand Inc. IR$30.6 billion32.409.4%18.1%7.8%0.40n/a
TechnipFMC plc FTI$27.3 billion24.1535.9%16.0%9.9%0.120.3%
nVent Electric plc NVT$27.1 billion45.7515.0%17.1%46.2%0.370.5%
Dover Corp. DOV$25.4 billion22.7414.7%16.9%7.6%0.421.1%
Xylem Inc. XYL$24.0 billion24.459.8%14.5%4.5%0.281.6%
Curtiss Wright Corp. CW$18.9 billion35.3019.5%18.8%10.5%0.350.2%
Zebra Technologies Corp. ZBRA$18.3 billion35.4315.7%14.7%12.7%0.81n/a
Nordson Corp. NDSN$18.3 billion33.1717.0%26.9%7.0%0.531.0%
ITT Inc. ITT$18.0 billion39.488.8%14.4%28.1%0.620.7%
Idex Corp. IEX$17.3 billion33.7013.0%20.7%7.3%0.471.2%
RBC Bearings Inc. RBC$16.5 billion49.799.3%23.6%17.3%0.230.0%
Lincoln Electric Holdings Inc. LECO$14.2 billion26.1035.6%17.1%9.3%0.741.2%
CNH Industrial N.V. CNH$14.1 billion45.604.0%n/a0.6%3.332.2%
BWX Technologies, Inc. BWXT$13.2 billion37.2626.6%12.1%22.7%1.510.7%
Graco Inc. GGG$12.7 billion24.5921.1%28.1%4.6%0.011.4%
Lennox International Inc. LII$12.4 billion16.1160.8%19.7%-2.1%0.891.4%
Moog Inc. MOG.A$11.6 billion30.8717.0%13.3%15.6%0.410.3%
Regal Rexnord Corp. RRX$11.0 billion34.024.7%11.7%3.5%0.660.8%
Donaldson Co. Inc. DCI$10.1 billion22.5925.7%15.4%5.3%0.731.4%
Flowserve Corp. FLS$9.2 billion25.3416.4%8.5%-0.3%0.941.2%
Toro Co. TTC$9.1 billion25.6127.2%10.3%5.2%0.721.6%
SPX Technologies, Inc. SPXC$8.5 billion30.4811.9%16.2%20.6%0.260.4%
Pentair plc PNR$8.5 billion13.1817.4%20.3%-2.1%0.431.9%
Timken Co. TKR$8.1 billion31.498.1%10.5%5.5%0.641.2%
Zurn Elkay Water Solutions Corp. ZWS$7.7 billion28.7416.6%20.8%10.7%0.300.8%
Agco Corp. AGCO$7.2 billion14.3013.1%5.8%1.7%0.651.1%
Aaon, Inc. AAON$7.1 billion44.8415.8%11.0%53.5%0.430.5%
NOV Inc. NOV$6.8 billion72.941.5%5.1%-1.7%0.272.7%
Gates Industrial Corp. Ltd. GTES$6.8 billion18.9210.3%13.3%3.3%0.63n/a
Solaris Energy Infrastructure, Inc. SEI$6.0 billion95.536.1%24.3%70.5%1.780.6%
Weatherford International plc WFRD$5.6 billion15.3720.5%12.7%-7.2%0.811.3%
JBT Marel Corp. JBTM$5.6 billion29.194.3%7.3%44.9%0.380.4%
ACM Research, Inc. ACMR$5.1 billion33.998.1%13.3%27.3%0.13n/a
Middleby Corp. MIDD$4.8 billionn/a-21.3%16.5%8.4%0.88n/a
Cactus, Inc. WHD$4.5 billion54.2313.2%18.6%21.8%0.000.9%
Esab Corp. ESAB$4.2 billion23.976.8%12.1%9.7%0.940.6%
Brunswick Corp. BC$4.0 billionn/a-5.1%-0.4%10.5%1.252.8%
Standex International Corp. SXI$3.4 billion32.9613.9%21.7%12.8%0.690.5%
Veeco Instruments Inc. VECO$3.2 billion145.422.6%2.7%-2.5%0.25n/a
Kadant Inc. KAI$3.1 billion28.0110.7%15.0%12.5%0.500.5%
Dnow Inc. DNOW$2.8 billionn/an/an/a69.8%0.23n/a
Kennametal Inc. KMT$2.4 billion7.2521.8%20.1%19.8%0.442.5%
Hayward Holdings, Inc. HAYW$2.4 billion15.3210.1%21.1%7.8%0.590.0%
Innovex International, Inc. INVX$1.9 billion31.535.8%10.0%15.0%0.02n/a
Alamo Group Inc. ALG$1.8 billion18.298.5%8.9%4.1%0.220.8%
Enerpac Tool Group Corp. EPAC$1.8 billion19.7522.0%21.2%4.3%0.440.1%
Azenta, Inc. AZTA$1.7 billionn/a-8.1%-28.6%4.8%0.000.3%
Lindsay Corp. LNN$1.1 billion21.5511.1%9.9%-7.4%0.231.3%
Tennant Co. TNC$1.1 billion63.473.4%3.2%-2.9%0.671.8%
Astec Industries Inc. ASTE$890 million45.532.8%3.4%18.7%0.531.3%
3 companies share its SEC industry code (Refrigeration & Service Industry Machinery); the rest are the names nearest in size in its wider industry, Machinery, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20266 August 2026EDGAR
10-Q31 March 20265 May 2026EDGAR
10-K31 December 202524 February 2026EDGAR
10-Q30 September 20254 November 2025EDGAR
10-Q30 June 20257 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202418 February 2025EDGAR
10-Q30 September 20241 November 2024EDGAR
10-Q30 June 20248 August 2024EDGAR
10-Q31 March 20243 May 2024EDGAR

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