# Tennant Company (TNC) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Industrials / Machinery. Price $71.97, market value $1.2 billion.

## Valuation
- **P/E (trailing): 69.2×** (5-yr avg 20.6×, 3-yr avg 21.5×). Tennant Company trades at 69.2× trailing earnings, well above its own five-year average of 20.6×: investors are paying up relative to the company's past. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 12.8×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.0×**. Each dollar of revenue is priced at 1.0×.
- **Price / book: 2.3×**. The shares trade at 2.3× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -0.2%** (5-yr avg 3.3%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 1.4%**. The inverse of the P/E: 1.4% of the price is earned each year.

## Profitability
- **Gross margin: 38.8%**. Tennant Company keeps 38.8% of revenue after the direct cost of what it sells.
- **Operating margin: 3.2%**. 3.2% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 3.6%**. 3.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 7.3%**. 7.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 3.5%**. Return on all capital, debt included, is 3.5%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.4%**. Each dollar of assets produces 1.4% of profit.

## Growth
- **Revenue growth (1 yr): -6.5%** (3-yr 3.3%/yr, 5-yr 3.8%/yr). Revenue fell 6.5% over the last year, against 3.8% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -46.1%** (3-yr -12.7%/yr, 5-yr 5.5%/yr). Earnings per share fell 46.1%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.46**. Debt is 0.46 times equity: a conservative balance sheet.
- **Current ratio: 2.05** (quick 2.05). Current assets cover the next year's liabilities 2.05 times.
- **Altman Z-score: 3.19**. A Z-score of 3.19 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.72%** ($1.23 per share, trailing). Tennant Company yields 1.72%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 50%**. 50% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 6.1%/yr** (1-yr 5.3%). The dividend has grown 6.1% a year over five years.

## Price and momentum
- **Total return (1 yr): -11.7%** (YTD -1.5%, 3-mo -14.3%). The shares are down 11.7% over twelve months including dividends.
- **From 52-week high: -21.7%** (19.6% above the low). Trading 22% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 47**. An RSI of 47 is neutral.
- **Beta (1 yr): 0.87** (volatility 39%). Beta of 0.87 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=TNC · Page: https://foliofundamentals.com/stocks/tnc

Not investment advice.