Tennant (TNC) FY2016 results: revenue $809 million, down 0.4% on the year
Tennant Co. (TNC) reported revenue of $809 million for fiscal 2016, the year ended 31 December 2016, down 0.4% on the year before. Net income was $47 million, up 45.3%, and diluted earnings per share $2.59. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$809 million
-0.4% on the year
FY2009FY2016
Operating margin
8.4%
6.6% a year earlier
FY2009FY2016
Net income
$47 million
+45.3% on the year
FY2009FY2016
Diluted EPS
$2.59
+48.9% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
809
812
822
-0.4%
Cost of revenue
457
463
470
-1.2%
Gross profit
352
349
352
+0.7%
Gross margin
43.5%
43.0%
42.9%
Research and development
34.7
32.4
29.4
+7.2%
Selling, general and administrative
248
252
251
-1.6%
Operating income
68.3
53.2
72.1
+28.4%
Operating margin
8.4%
6.6%
8.8%
Interest expense
1.3
1.3
1.7
-2.6%
Pre-tax income
66.5
50.4
69.5
+31.9%
Income tax
19.9
18.3
18.9
+8.4%
Effective tax rate
29.9%
36.4%
27.2%
Net income
46.6
32.1
50.7
+45.3%
Net margin
5.8%
4.0%
6.2%
Diluted EPS
$2.59
$1.74
$2.70
+48.9%
$ million except per share. 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.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
57.9
45.2
59.4
+28.0%
Capital expenditure
26.5
24.8
19.6
+7.0%
Free cash flow
31.4
20.5
39.8
+53.3%
Free cash flow margin
3.9%
2.5%
4.8%
Cash from investing
-40.6
-23.6
-17.9
Cash from financing
-9.6
-61.4
-28.0
Depreciation and amortisation
18.3
18.0
20.1
+1.5%
Share-based compensation
3.9
8.2
7.3
-52.9%
Buybacks
12.8
46.0
14.1
-72.3%
Dividends paid
14.3
14.5
14.5
-1.4%
Dividend per share
$0.81
$0.80
$0.78
+1.3%
Diluted shares, weighted
18m
18m
19m
-2.8%
Shares outstanding at period end
18m
18m
18m
-0.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
279
252
281
+10.4%
Non-controlling interest
0.0
n/a
n/a
Debt
36.2
24.7
28.1
+46.8%
Other liabilities
155
155
178
-0.1%
Total liabilities and equity
470
432
487
+8.7%
Fixed assets
112
95.0
86.5
+18.0%
Goodwill
21.1
16.8
18.4
+25.4%
Intangible assets
6.5
3.2
15.6
+102.2%
Cash and equivalents
58.0
51.3
93.0
+13.1%
Receivables
145
136
147
+6.6%
Inventory
78.6
77.3
80.5
+1.7%
Other assets
48.5
52.4
45.7
-7.5%
Total assets
470
432
487
+8.7%
10-K for the year ended 31 December 2016, filed 28 February 2019: the filing.