Tennant (TNC) FY2023 results: revenue $1.2 billion, up 13.9% on the year
Tennant Co. (TNC) reported revenue of $1.2 billion for fiscal 2023, the year ended 31 December 2023, up 13.9% on the year before. Net income was $110 million, up 65.2%, and diluted earnings per share $5.83. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$1.2 billion
+13.9% on the year
FY2016FY2023
Operating margin
11.1%
8.0% a year earlier
FY2016FY2023
Net income
$110 million
+65.2% on the year
FY2016FY2023
Diluted EPS
$5.83
+64.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
188
-25.1
69.4
Capital expenditure
22.8
25.0
19.4
-8.8%
Free cash flow
166
-50.1
50.0
Free cash flow margin
13.3%
-4.6%
4.6%
Cash from investing
-23.2
-24.5
1.7
Cash from financing
-123
8.1
-84.5
Depreciation and amortisation
51.1
48.7
53.1
+4.9%
Share-based compensation
11.6
7.8
9.5
+48.7%
Buybacks
21.7
5.0
15.0
+334.0%
Dividends paid
20.1
18.9
17.5
+6.3%
Dividend per share
$1.07
$1.01
$0.94
+5.9%
Diluted shares, weighted
19m
19m
19m
+0.5%
Shares outstanding at period end
19m
19m
16m
0.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
577
471
434
+22.6%
Non-controlling interest
1.3
1.3
1.3
0.0%
Debt
201
300
268
-33.2%
Operating lease liabilities
27.4
17.1
25.4
+60.2%
Finance lease liabilities
0.4
0.1
0.1
+300.0%
Other liabilities
307
296
334
+3.8%
Total liabilities and equity
1,113
1,085
1,062
+2.6%
Fixed assets
n/a
180
173
Goodwill
187
182
193
+3.0%
Intangible assets
63.1
76.4
98.0
-17.4%
Securities held for sale or to maturity
0.0
n/a
n/a
Cash and equivalents
117
77.4
124
+51.3%
Receivables
248
252
211
-1.6%
Inventory
176
207
161
-14.9%
Other assets
322
111
102
+189.6%
Total assets
1,113
1,085
1,062
+2.6%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.