Tennant (TNC) FY2024 results: revenue $1.3 billion, up 3.5% on the year
Tennant Co. (TNC) reported revenue of $1.3 billion for fiscal 2024, the year ended 31 December 2024, up 3.5% on the year before. Net income was $84 million, down 23.6%, and diluted earnings per share $4.38. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2025.
Revenue
$1.3 billion
+3.5% on the year
FY2017FY2024
Operating margin
8.9%
11.1% a year earlier
FY2017FY2024
Net income
$84 million
-23.6% on the year
FY2017FY2024
Diluted EPS
$4.38
-24.9% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
89.7
188
-25.1
-52.4%
Capital expenditure
20.9
22.8
25.0
-8.3%
Free cash flow
68.8
166
-50.1
-58.5%
Free cash flow margin
5.3%
13.3%
-4.6%
Cash from investing
-78.4
-23.2
-24.5
Cash from financing
-25.2
-123
8.1
Depreciation and amortisation
55.1
51.1
48.7
+7.8%
Share-based compensation
11.9
11.6
7.8
+2.6%
Buybacks
19.6
21.7
5.0
-9.7%
Dividends paid
21.4
20.1
18.9
+6.5%
Dividend per share
$1.14
$1.07
$1.01
+5.6%
Diluted shares, weighted
19m
19m
19m
+1.7%
Shares outstanding at period end
19m
19m
19m
+0.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
621
577
471
+7.6%
Non-controlling interest
1.3
1.3
1.3
0.0%
Debt
200
201
300
-0.5%
Operating lease liabilities
36.3
27.4
17.1
+32.5%
Finance lease liabilities
0.7
0.4
0.1
+75.0%
Other liabilities
332
307
296
+8.1%
Total liabilities and equity
1,190
1,113
1,085
+6.9%
Fixed assets
n/a
n/a
180
Goodwill
186
187
182
-1.0%
Intangible assets
58.7
63.1
76.4
-7.0%
Securities held for sale or to maturity
12.3
0.0
n/a
Cash and equivalents
99.8
117
77.4
-14.8%
Receivables
259
248
252
+4.6%
Inventory
184
176
207
+4.5%
Other assets
391
322
111
+21.3%
Total assets
1,190
1,113
1,085
+6.9%
10-K for the year ended 31 December 2024, filed 18 February 2025: the filing.