Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers manual and autonomous mechanized cleaning equipment for industrial and commercial use, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, and equipment maintenance and repair services. It also provides business solutions such as financing, rental and leasing programs, and machine-to-machine asset management solutions. In addition, the company offers robotic cleaning equipment; IRIS, an asset management solution; ec-H2O NanoClean, a detergent-free cleaning solution; and ReadySpace, a rapid-drying carpet cleaning technology. It offers its products under the Tennant, Nobles, Alfa Uma Empresa Tennant, IPC, Gaomei, and Rongen brands, as well as private-label brands. The company serves retail establishments, distribution centers, factories and warehouses, public venues such as arenas and stadiums, office buildings, schools and universities, hospitals and clinics, and others. It markets its products to contract cleaners and businesses through direct sales and service organizations, as well as through a network of authorized distributors. Tennant Company was founded in 1870 and is headquartered in Eden Prairie, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.2B | $126M | $44M | $43M | 7.3% | -6.5% | -47.7% |
| 2024 | $1.3B | $169M | $84M | $68M | 13.5% | 3.5% | -23.6% |
| 2023 | $1.2B | $188M | $110M | $164M | 19.0% | 13.9% | 65.2% |
| 2022 | $1.1B | $135M | $66M | $-54M | 14.1% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,092.20 | 1,243.60 | 1,286.70 | 1,203.50 |
| Operating Revenue | - | 1,092.20 | 1,243.60 | 1,286.70 | 1,203.50 |
| Cost Of Revenue | - | 671.30 | 715.80 | 736.70 | 719.20 |
| Gross Profit | - | 420.90 | 527.80 | 550 | 484.30 |
| Operating Expense | - | 337.40 | 389.20 | 435.70 | 416 |
| Research And Development | - | 31.10 | 36.60 | 43.80 | 41.20 |
| Selling General And Administration | - | 306.30 | 352.60 | 391.90 | 374.80 |
| Total Expenses | - | 1,008.70 | 1,105 | 1,172.40 | 1,135.20 |
| Operating Income | - | 83.50 | 138.60 | 114.30 | 68.30 |
| Total Operating Income As Reported | - | 87.20 | 138.60 | 114.30 | 68.30 |
| EBITDA | - | 135.30 | 188.40 | 169 | 125.60 |
| Normalized EBITDA | - | 132.80 | 188.10 | 168.90 | 127.30 |
| EBIT | - | 86.60 | 137.30 | 113.90 | 66.90 |
| Interest Expense | - | 7.10 | 13.50 | 9.10 | 9 |
| Net Interest Income | - | -7.10 | -13.50 | -9.10 | -9 |
| Other Non Operating Income Expenses | - | 0.60 | -1.60 | -0.50 | 0.30 |
| Other Income Expense | - | 3.10 | -1.30 | -0.40 | -1.40 |
| Interest Expense Non Operating | - | 7.10 | 13.50 | 9.10 | 9 |
| Net Non Operating Interest Income Expense | - | -7.10 | -13.50 | -9.10 | -9 |
| Pretax Income | - | 79.50 | 123.80 | 104.80 | 57.90 |
| Tax Provision | - | 13.20 | 14.30 | 21.10 | 14.10 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.42 | 0.03 | 0.02 | -0.41 |
| Net Income Continuous Operations | - | 66.30 | 109.50 | 83.70 | 43.80 |
| Net Income From Continuing And Discontinued Operation | - | 66.30 | 109.50 | 83.70 | 43.80 |
| Net Income From Continuing Operation Net Minority Interest | - | 66.30 | 109.50 | 83.70 | 43.80 |
| Net Income | - | 66.30 | 109.50 | 83.70 | 43.80 |
| Net Income Common Stockholders | - | 66.30 | 109.50 | 83.70 | 43.80 |
| Net Income Including Noncontrolling Interests | - | 66.30 | 109.50 | 83.70 | 43.80 |
| Normalized Income | - | 64.22 | 109.23 | 83.62 | 45.09 |
| Diluted NI Availto Com Stockholders | - | 66.30 | 109.50 | 83.70 | 43.80 |
| Basic Average Shares | - | 18.49 | 18.51 | 18.79 | 18.37 |
| Diluted Average Shares | - | 18.70 | 18.78 | 19.10 | 18.58 |
| Reconciled Depreciation | - | 48.70 | 51.10 | 55.10 | 58.70 |
| Reconciled Cost Of Revenue | - | 671.30 | 715.80 | 736.70 | 719.20 |
| Total Unusual Items | - | 2.50 | 0.30 | 0.10 | -1.70 |
| Total Unusual Items Excluding Goodwill | - | 2.50 | 0.30 | 0.10 | -1.70 |
| Minority Interests | 0 | - | - | - | - |
| Special Income Charges | -1.50 | 3.70 | 0 | 0 | - |
| Gain On Sale Of Business | 9.80 | - | - | - | - |
| Other Special Charges | 11.30 | - | - | - | - |
| Gain On Sale Of Security | - | -1.20 | 0.30 | 0.10 | -1.70 |
| Gain On Sale Of Ppe | 9.80 | 3.70 | 0 | 0 | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Tennant Companythis co. | TNC | $1.4B | 32.96β premium | 2.40 | 7.3% | 13.28 |
| BlackSky Technology Inc. | BKSY | $1.5B | -20.95 | 15.51 | -74.1% | -67.62 |
| Ryerson Holding Corporation | RYZ | $1.5B | -26.03 | 1.95 | -7.5% | 47.61 |
| SFL Corporation Ltd. | SFL | $1.5B | -55.15 | 1.52 | -2.8% | 10.04 |
| TETRA Technologies, Inc. | TTI | $1.5B | 483.12 |
| - |
| - |
| - |
| - |
| 5.12 |
| 1.1% |
| 19.83 |
| The Greenbrier Companies, Inc. | GBX | $1.4B | 7.10 | 0.95 | 13.3% | 6.14 |
| Marten Transport, Ltd. | MRTN | $1.4B | 83.09 | 1.89 | 2.3% | 12.10 |
| Hillman Solutions Corp. | HLMN | $1.4B | 35.39 | 1.16 | 3.3% | 8.51 |
| Willis Lease Finance Corporation | WLFC | $1.4B | 12.43 | 2.14 | 17.2% | 10.10 |
| Peer Median | - | 9.76 | 1.92 | 1.7% | 10.07 | |