Tennant Gross profit (Q3, 2018)108.1 M

Tennant Gross profit margin (Q3, 2018), %39.6%

Tennant Cash, 30-Sep-201853.5 M

Tennant EV1.4 B

Tennant revenue breakdown by business segment: 24.5% from Asia Pacific and 75.5% from Europe, Middle East, Africa

Tennant revenue breakdown by geographic segment: 100.0% from Americas

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Revenue | 752.0m | 822.0m | 811.8m | 808.6m | 1.0b |

| 9% | (1%) | 0% | 24% | |

## Cost of goods sold | 426.1m | 469.6m | 462.7m | 457.0m | 598.6m |

## Gross profit | 325.9m | 352.4m | 349.1m | 351.6m | 404.4m |

| 43% | 43% | 43% | 43% | 40% |

## R&D expense | 32.4m | 34.7m | 32.0m | ||

## General and administrative expense | 252.3m | 248.2m | 345.4m | ||

## Operating expense total | 284.7m | 282.9m | 377.4m | ||

## EBIT | 62.4m | 72.1m | 53.2m | 68.5m | 27.0m |

| 8% | 9% | 7% | 8% | 3% |

## Interest expense | 1.8m | 1.7m | 1.3m | 1.3m | 25.4m |

## Interest income | 390.0k | 302.0k | 172.0k | 330.0k | 2.4m |

## Pre tax profit | 50.4m | 66.5m | (1.3m) | ||

## Income tax expense | 19.6m | 18.9m | 18.3m | 19.9m | 4.9m |

## Net Income | 40.2m | 50.7m | 32.1m | 46.6m | (6.2m) |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 188.5m | 184.0m | 219.1m | 202.6m | 185.7m | 215.4m | 204.8m | 179.9m | 216.8m | 200.1m | 191.1m | 270.8m | 261.9m | 272.8m | 292.2m | 273.3m |

## Cost of goods sold | 106.7m | 107.1m | 123.8m | 115.5m | 107.7m | 120.4m | 116.1m | 102.4m | 121.5m | 114.8m | 111.3m | 166.2m | 157.3m | 162.2m | 173.4m | 165.2m |

## Gross profit | 81.9m | 76.9m | 95.3m | 87.2m | 78.1m | 95.0m | 88.7m | 77.5m | 95.3m | 85.3m | 79.7m | 104.6m | 104.6m | 110.6m | 118.8m | 108.1m |

| 43% | 42% | 43% | 43% | 42% | 44% | 43% | 43% | 44% | 43% | 42% | 39% | 40% | 41% | 41% | 40% |

## R&D expense | 8.0m | 7.9m | 7.5m | |||||||||||||

## Operating expense total | 65.6m | 67.7m | 72.1m | 70.1m | 69.8m | 72.4m | 84.1m | 70.4m | 72.7m | 69.0m | 82.3m | 95.4m | 93.6m | 100.3m | 99.8m | 92.6m |

## Interest expense | 440.0k | 486.0k | 419.0k | 396.0k | 377.0k | 419.0k | 215.0k | 302.0k | 288.0k | 329.0k | 794.0k | 11.8m | 6.1m | 5.7m | 6.0m | 6.0m |

## Interest income | 67.0k | 75.0k | 95.0k | 84.0k | 50.0k | 53.0k | 42.0k | 41.0k | 40.0k | 107.0k | 84.0k | 793.0k | 698.0k | 749.0k | 952.0k | 839.0k |

## Income tax expense | 4.8m | 2.8m | 7.5m | 4.6m | 2.4m | 7.0m | 4.9m | 2.1m | 7.3m | 4.4m | (584.0k) | 238.0k | 731.0k | 1.1m | 363.0k | 158.0k |

## Net Income | 10.6m | 5.8m | 15.5m | 11.8m | 5.0m | 14.8m | 4.4m | 15.3m | 11.5m |

USD | Y, 2009 | Y, 2010 | Y, 2011 | Y, 2012 | Y, 2013 | Y, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|---|---|---|---|

## Cash | 18.1m | 39.5m | 52.3m | 53.9m | 81.0m | 93.0m | 51.3m | 58.0m | 58.4m |

## Accounts Receivable | 145.3m | 203.3m | |||||||

## Prepaid Expenses | 9.2m | 19.4m | |||||||

## Inventories | 80.5m | 77.3m | 78.6m | 127.7m | |||||

## Current Assets | 347.1m | 293.6m | 297.9m | 423.1m | |||||

## PP&E | 86.5m | 95.0m | 112.1m | 180.0m | |||||

## Goodwill | 18.4m | 16.8m | 21.1m | 186.0m | |||||

## Total Assets | 486.9m | 432.3m | 470.0m | 994.0m | |||||

## Accounts Payable | 61.6m | 50.4m | 47.4m | 96.1m | |||||

## Short-term debt | 3.5m | 30.9m | |||||||

## Current Liabilities | 145.6m | 133.2m | 132.8m | 236.5m | |||||

## Long-term debt | 24.6m | 21.2m | 32.7m | 346.0m | |||||

## Non-Current Liabilities | 60.7m | 46.9m | 58.7m | 459.0m | |||||

## Total Debt | 24.6m | 21.2m | 36.2m | 376.8m | |||||

## Total Liabilities | 206.3m | 180.1m | 191.5m | 695.5m | |||||

## Common Stock | 6.6m | 6.7m | |||||||

## Additional Paid-in Capital | 26.2m | 3.7m | 15.1m | ||||||

## Retained Earnings | 286.1m | 293.7m | 318.2m | 297.0m | |||||

## Total Equity | 280.7m | 252.2m | 278.5m | 298.5m | |||||

## Debt to Equity Ratio | 0.1 x | 0.1 x | 0.1 x | 1.3 x | |||||

## Debt to Assets Ratio | 0.1 x | 0 x | 0.1 x | 0.4 x | |||||

## Financial Leverage | 1.7 x | 1.7 x | 1.7 x | 3.3 x |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 65.3m | 63.4m | 62.6m | 79.8m | 76.8m | 67.6m | 56.8m | 26.9m | 27.9m | 42.3m | 45.0m | 53.3m | 55.9m | 54.0m | 53.9m | 53.5m |

## Inventories | 67.4m | 73.8m | 79.0m | 84.0m | 85.6m | 86.5m | 83.3m | 84.1m | 82.5m | 87.3m | 88.1m | 141.6m | 141.5m | 140.3m | 139.4m | 139.8m |

## Current Assets | 295.7m | 307.1m | 320.7m | 329.2m | 319.2m | 328.6m | 309.4m | 259.4m | 277.7m | 281.6m | 287.8m | 426.6m | 423.7m | 434.7m | 445.3m | 439.1m |

## PP&E | 84.5m | 83.9m | 84.5m | 85.2m | 84.8m | 89.2m | 87.8m | 101.2m | 105.1m | 113.4m | 112.9m | 178.0m | 177.9m | 169.0m | 163.8m | |

## Goodwill | 19.2m | 19.2m | 19.3m | 18.7m | 17.6m | 17.7m | 16.8m | 17.2m | 17.5m | 24.7m | 21.5m | 183.3m | 179.0m | 196.2m | 185.7m | 184.6m |

## Total Assets | 439.0m | 448.5m | 466.0m | 471.3m | 454.2m | 469.7m | 435.3m | 412.7m | 432.9m | 453.1m | 467.1m | 997.2m | 1.0b | 1.0b | 986.1m | 970.6m |

## Accounts Payable | 49.3m | 54.4m | 60.1m | 57.9m | 56.8m | 59.7m | 54.4m | 46.6m | 49.8m | 45.0m | 49.5m | 88.6m | 88.6m | 102.7m | 103.6m | 90.8m |

## Short-term debt | 3.9m | 2.2m | 3.6m | 3.7m | 3.5m | 3.4m | 3.4m | 3.5m | 3.5m | 3.5m | 33.0k | 5.3m | 5.3m | 30.9m | 31.0m | 31.0m |

## Current Liabilities | 126.2m | 124.1m | 135.3m | 139.5m | 123.9m | 136.8m | 139.5m | 115.8m | 128.2m | 122.9m | 120.2m | 194.6m | 202.9m | 241.4m | 245.4m | 238.7m |

## Long-term debt | 28.0m | 26.0m | 24.6m | 24.5m | 22.6m | 21.1m | 21.1m | 19.2m | 17.8m | 32.7m | 45.0m | 405.7m | 383.3m | 342.4m | 328.7m | 316.9m |

## Non-Current Liabilities | 61.6m | 58.9m | 61.4m | 58.4m | 57.8m | 54.8m | 50.5m | 45.2m | 43.9m | 58.0m | 70.4m | 515.2m | 503.4m | 467.2m | 438.5m | 422.7m |

## Total Debt | 32.0m | 28.2m | 28.2m | 28.2m | 26.1m | 24.6m | 24.6m | 22.7m | 21.2m | 36.2m | 45.0m | 411.0m | 388.5m | 373.3m | 359.7m | 347.9m |

## Total Liabilities | 187.8m | 183.0m | 196.6m | 197.9m | 181.7m | 191.6m | 189.9m | 161.0m | 172.1m | 180.9m | 190.6m | 709.8m | 706.3m | 708.5m | 683.9m | 661.5m |

## Additional Paid-in Capital | 28.8m | 30.2m | 21.5m | 24.3m | 24.7m | 17.2m | 3.0m | 7.0m | 9.9m | 12.1m | 18.3m | 22.3m | 26.1m | |||

## Retained Earnings | 246.1m | 252.2m | 264.1m | 272.2m | 287.4m | 298.6m | 288.4m | 289.9m | 298.6m | 306.5m | 310.5m | 304.2m | 304.0m | 297.7m | 306.7m | 312.5m |

## Total Equity | 251.2m | 265.4m | 269.4m | 273.4m | 272.5m | 278.1m | 245.4m | 251.7m | 260.8m | 272.2m | 276.6m | 287.4m | 296.5m | 307.4m | 302.2m | 309.1m |

## Debt to Equity Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.2 x | 1.4 x | 1.3 x | 1.2 x | ||

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0 x | 0.1 x | 0.1 x | 0.4 x | 0.4 x | 0.4 x | ||

## Financial Leverage | 1.7 x | 1.7 x | 1.7 x | 1.7 x | 1.7 x | 1.7 x | 1.8 x | 1.6 x | 1.7 x | 1.7 x | 1.7 x | 3.5 x | 3.4 x | 3.3 x | 3.3 x | 3.1 x |

USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|---|---|

## Net Income | 40.2m | 50.7m | 32.1m | 46.6m | (6.2m) |

## Depreciation and Amortization | 20.1m | 18.0m | 18.3m | 43.3m | |

## Accounts Receivable | 4.5m | 9.3m | (14.4m) | ||

## Inventories | (21.0m) | (10.0m) | 23.0k | (2.9m) | |

## Accounts Payable | 10.2m | (10.5m) | (3.9m) | 10.8m | |

## Cash From Operating Activities | 27.0m | 59.4m | 45.2m | 57.9m | 54.2m |

## Purchases of PP&E | (19.6m) | (24.8m) | (26.5m) | (20.4m) | |

## Cash From Investing Activities | (17.9m) | (23.6m) | (40.4m) | (375.4m) | |

## Short-term Borrowings | (303.0m) | ||||

## Long-term Borrowings | (2.0m) | (3.4m) | (3.5m) | (96.2m) | |

## Dividends Paid | (14.5m) | (14.5m) | (14.3m) | (15.0m) | |

## Cash From Financing Activities | (28.0m) | (61.4m) | (9.6m) | 319.5m | |

## Net Change in Cash | (41.7m) | 6.7m | 365.0k | ||

## Interest Paid | 1.5m | 1.2m | 1.1m | 14.2m | |

## Income Taxes Paid | 3.5m | (4.3m) | 5.4m | 285.0k |

USD | Q3, 2013 | Q1, 2014 | Q2, 2014 | Q3, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 10.6m | 5.8m | 15.5m | 11.8m | 5.0m | 14.8m | 4.4m | 15.3m | 11.5m | |||||||

## Depreciation and Amortization | 14.8m | 13.5m | 28.0m | 41.5m | ||||||||||||

## Accounts Receivable | (6.0m) | |||||||||||||||

## Inventories | 86.5m | 83.3m | 84.1m | 82.5m | 87.3m | 88.1m | (9.9m) | 141.5m | (10.8m) | (17.0m) | (19.5m) | |||||

## Accounts Payable | 59.7m | 54.4m | 46.6m | 49.8m | 45.0m | 49.5m | 6.2m | 88.6m | 5.7m | 9.8m | (1.8m) | |||||

## Cash From Operating Activities | (2.5m) | 5.5m | 26.0m | 43.5m | ||||||||||||

## Purchases of PP&E | (9.1m) | (3.5m) | (7.7m) | (12.8m) | ||||||||||||

## Cash From Investing Activities | (364.9m) | (4.3m) | (8.1m) | (10.4m) | ||||||||||||

## Long-term Borrowings | (58.5m) | (4.0m) | (18.1m) | (30.2m) | ||||||||||||

## Dividends Paid | (7.5m) | (3.8m) | (7.6m) | (11.4m) | ||||||||||||

## Cash From Financing Activities | 361.9m | (6.9m) | (21.9m) | (35.8m) | ||||||||||||

## Interest Paid | 2.5m | 1.0m | 10.2m | 11.3m | ||||||||||||

## Income Taxes Paid | 4.9m | 1.7m | 5.7m | 7.3m |

USD | Y, 2018 |
---|---|

## EV/CFO | 32.9 x |

## Financial Leverage | 3.1 x |

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