Tennant (TNC) FY2018 results: revenue $1.1 billion, up 12.0% on the year
Tennant Co. (TNC) reported revenue of $1.1 billion for fiscal 2018, the year ended 31 December 2018, up 12.0% on the year before. Net income was $33 million, and diluted earnings per share $1.82. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$1.1 billion
+12.0% on the year
FY2011FY2018
Operating margin
5.2%
3.3% a year earlier
FY2011FY2018
Net income
$33 million
FY2011FY2018
Diluted EPS
$1.82
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,124
1,003
809
+12.0%
Cost of revenue
678
603
457
+12.5%
Gross profit
445
400
352
+11.3%
Gross margin
39.6%
39.9%
43.5%
Research and development
30.7
32.0
34.7
-4.0%
Selling, general and administrative
356
335
248
+6.4%
Operating income
58.0
33.0
68.3
+75.7%
Operating margin
5.2%
3.3%
8.4%
Interest expense
23.3
25.4
1.3
-8.1%
Pre-tax income
35.8
-1.3
66.5
Income tax
2.3
4.9
19.9
-53.0%
Effective tax rate
6.4%
n/a
29.9%
Net income
33.4
-6.2
46.6
Net margin
3.0%
-0.6%
5.8%
Diluted EPS
$1.82
-$0.35
$2.59
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
80.0
54.2
57.9
+47.6%
Capital expenditure
18.8
20.4
26.5
-8.1%
Free cash flow
61.2
33.7
31.4
+81.4%
Free cash flow margin
5.4%
3.4%
3.9%
Cash from investing
-16.1
-375
-40.6
Cash from financing
-32.8
319
-9.6
Depreciation and amortisation
54.4
43.3
18.3
+25.8%
Share-based compensation
8.3
5.9
3.9
+41.1%
Buybacks
0.0
0.0
12.8
Dividends paid
15.3
15.0
14.3
+2.0%
Dividend per share
$0.85
$0.84
$0.81
+1.2%
Diluted shares, weighted
18m
18m
18m
+3.6%
Shares outstanding at period end
18m
18m
18m
+1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
314
297
279
+6.0%
Non-controlling interest
1.9
2.0
0.0
-3.6%
Debt
355
377
36.2
-5.8%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
321
319
155
+0.8%
Total liabilities and equity
993
994
470
-0.1%
Fixed assets
163
180
112
-9.2%
Goodwill
183
186
21.1
-1.8%
Intangible assets
147
172
6.5
-15.0%
Cash and equivalents
85.6
58.4
58.0
+46.6%
Receivables
208
203
145
+2.3%
Inventory
135
128
78.6
+5.8%
Other assets
71.2
66.2
48.5
+7.5%
Total assets
993
994
470
-0.1%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.