$1.4 B

TNC Mkt cap, 14-Sep-2018

$272.8 M

Tennant Revenue Q1, 2018
Tennant Gross profit (Q1, 2018)110.6 M
Tennant Gross profit margin (Q1, 2018), %40.5%
Tennant Cash, 31-Mar-201854 M
Tennant EV1.7 B

Tennant Revenue Breakdown

Embed Graph

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

Tennant Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

752 m822 m811.8 m808.6 m1 b

Revenue growth, %

9%(1%)0%24%

Cost of goods sold

426.1 m469.6 m462.7 m457 m598.6 m

Gross profit

325.9 m352.4 m349.1 m351.6 m404.4 m

Gross profit Margin, %

43%43%43%43%40%

R&D expense

32.4 m34.7 m32 m

General and administrative expense

252.3 m248.2 m345.4 m

Operating expense total

284.7 m282.9 m377.4 m

EBIT

62.4 m72.1 m53.2 m68.5 m27 m

EBIT margin, %

8%9%7%8%3%

Interest expense

1.8 m1.7 m1.3 m1.3 m25.4 m

Interest income

390 k302 k172 k330 k2.4 m

Pre tax profit

50.4 m66.5 m(1.3 m)

Income tax expense

19.6 m18.9 m18.3 m19.9 m4.9 m

Net Income

40.2 m50.7 m32.1 m46.6 m(6.2 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

188.5 m184 m219.1 m202.6 m185.7 m215.4 m204.8 m179.9 m216.8 m200.1 m191.1 m270.8 m261.9 m272.8 m

Cost of goods sold

106.7 m107.1 m123.8 m115.5 m107.7 m120.4 m116.1 m102.4 m121.5 m114.8 m111.3 m166.2 m157.3 m162.2 m

Gross profit

81.9 m76.9 m95.3 m87.2 m78.1 m95 m88.7 m77.5 m95.3 m85.3 m79.7 m104.6 m104.6 m110.6 m

Gross profit Margin, %

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

R&D expense

8 m

Operating expense total

65.6 m67.7 m72.1 m70.1 m69.8 m72.4 m84.1 m70.4 m72.7 m69 m82.3 m95.4 m93.6 m100.3 m

Interest expense

440 k486 k419 k396 k377 k419 k215 k302 k288 k329 k794 k11.8 m6.1 m5.7 m

Interest income

67 k75 k95 k84 k50 k53 k42 k41 k40 k107 k84 k793 k698 k749 k

Income tax expense

4.8 m2.8 m7.5 m4.6 m2.4 m7 m4.9 m2.1 m7.3 m4.4 m(584 k)238 k731 k1.1 m

Net Income

10.6 m5.8 m15.5 m11.8 m5 m14.8 m4.4 m15.3 m11.5 m

Tennant Balance Sheet

Annual

USDY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014FY, 2015FY, 2016FY, 2017

Cash

18.1 m39.5 m52.3 m53.9 m81 m93 m51.3 m58 m58.4 m

Accounts Receivable

145.3 m203.3 m

Prepaid Expenses

9.2 m19.4 m

Inventories

80.5 m77.3 m78.6 m127.7 m

Current Assets

347.1 m293.6 m297.9 m423.1 m

PP&E

86.5 m95 m112.1 m180 m

Goodwill

18.4 m16.8 m21.1 m186 m

Total Assets

486.9 m432.3 m470 m994 m

Accounts Payable

61.6 m50.4 m47.4 m96.1 m

Short-term debt

3.5 m30.9 m

Current Liabilities

145.6 m133.2 m132.8 m236.5 m

Long-term debt

24.6 m21.2 m32.7 m346 m

Non-Current Liabilities

60.7 m46.9 m58.7 m459 m

Total Debt

24.6 m21.2 m36.2 m376.8 m

Total Liabilities

206.3 m180.1 m191.5 m695.5 m

Common Stock

6.6 m6.7 m

Additional Paid-in Capital

26.2 m3.7 m15.1 m

Retained Earnings

286.1 m293.7 m318.2 m297 m

Total Equity

280.7 m252.2 m278.5 m298.5 m

Debt to Equity Ratio

0.1 x0.1 x0.1 x1.3 x

Debt to Assets Ratio

0.1 x0 x0.1 x0.4 x

Financial Leverage

1.7 x1.7 x1.7 x3.3 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

65.3 m63.4 m62.6 m79.8 m76.8 m67.6 m56.8 m26.9 m27.9 m42.3 m45 m53.3 m55.9 m54 m

Inventories

67.4 m73.8 m79 m84 m85.6 m86.5 m83.3 m84.1 m82.5 m87.3 m88.1 m141.6 m141.5 m140.3 m

Current Assets

295.7 m307.1 m320.7 m329.2 m319.2 m328.6 m309.4 m259.4 m277.7 m281.6 m287.8 m426.6 m423.7 m434.7 m

PP&E

84.5 m83.9 m84.5 m85.2 m84.8 m89.2 m87.8 m101.2 m105.1 m113.4 m112.9 m178 m177.9 m

Goodwill

19.2 m19.2 m19.3 m18.7 m17.6 m17.7 m16.8 m17.2 m17.5 m24.7 m21.5 m183.3 m179 m196.2 m

Total Assets

439 m448.5 m466 m471.3 m454.2 m469.7 m435.3 m412.7 m432.9 m453.1 m467.1 m997.2 m1 b1 b

Accounts Payable

49.3 m54.4 m60.1 m57.9 m56.8 m59.7 m54.4 m46.6 m49.8 m45 m49.5 m88.6 m88.6 m102.7 m

Short-term debt

3.9 m2.2 m3.6 m3.7 m3.5 m3.4 m3.4 m3.5 m3.5 m3.5 m33 k5.3 m5.3 m30.9 m

Current Liabilities

126.2 m124.1 m135.3 m139.5 m123.9 m136.8 m139.5 m115.8 m128.2 m122.9 m120.2 m194.6 m202.9 m241.4 m

Long-term debt

28 m26 m24.6 m24.5 m22.6 m21.1 m21.1 m19.2 m17.8 m32.7 m45 m405.7 m383.3 m342.4 m

Non-Current Liabilities

61.6 m58.9 m61.4 m58.4 m57.8 m54.8 m50.5 m45.2 m43.9 m58 m70.4 m515.2 m503.4 m467.2 m

Total Debt

32 m28.2 m28.2 m28.2 m26.1 m24.6 m24.6 m22.7 m21.2 m36.2 m45 m411 m388.5 m373.3 m

Total Liabilities

187.8 m183 m196.6 m197.9 m181.7 m191.6 m189.9 m161 m172.1 m180.9 m190.6 m709.8 m706.3 m708.5 m

Additional Paid-in Capital

28.8 m30.2 m21.5 m24.3 m24.7 m17.2 m3 m7 m9.9 m12.1 m18.3 m

Retained Earnings

246.1 m252.2 m264.1 m272.2 m287.4 m298.6 m288.4 m289.9 m298.6 m306.5 m310.5 m304.2 m304 m297.7 m

Total Equity

251.2 m265.4 m269.4 m273.4 m272.5 m278.1 m245.4 m251.7 m260.8 m272.2 m276.6 m287.4 m296.5 m307.4 m

Debt to Equity Ratio

0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.2 x1.4 x1.3 x1.2 x

Debt to Assets Ratio

0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0.1 x0 x0.1 x0.1 x0.4 x0.4 x0.4 x

Financial Leverage

1.7 x1.7 x1.7 x1.7 x1.7 x1.7 x1.8 x1.6 x1.7 x1.7 x1.7 x3.5 x3.4 x3.3 x

Tennant Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

40.2 m50.7 m32.1 m46.6 m(6.2 m)

Depreciation and Amortization

20.1 m18 m18.3 m43.3 m

Accounts Receivable

4.5 m9.3 m(14.4 m)

Inventories

(21 m)(10 m)23 k(2.9 m)

Accounts Payable

10.2 m(10.5 m)(3.9 m)10.8 m

Cash From Operating Activities

27 m59.4 m45.2 m57.9 m54.2 m

Purchases of PP&E

(19.6 m)(24.8 m)(26.5 m)(20.4 m)

Cash From Investing Activities

(17.9 m)(23.6 m)(40.4 m)(375.4 m)

Short-term Borrowings

(303 m)

Long-term Borrowings

(2 m)(3.4 m)(3.5 m)(96.2 m)

Dividends Paid

(14.5 m)(14.5 m)(14.3 m)(15 m)

Cash From Financing Activities

(28 m)(61.4 m)(9.6 m)319.5 m

Net Change in Cash

(41.7 m)6.7 m365 k

Interest Paid

1.5 m1.2 m1.1 m14.2 m

Income Taxes Paid

3.5 m(4.3 m)5.4 m285 k

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q3, 2017Q1, 2018

Net Income

10.6 m5.8 m15.5 m11.8 m5 m14.8 m4.4 m15.3 m11.5 m

Depreciation and Amortization

13.5 m

Inventories

86.5 m83.3 m84.1 m82.5 m87.3 m88.1 m141.5 m(10.8 m)

Accounts Payable

59.7 m54.4 m46.6 m49.8 m45 m49.5 m88.6 m5.7 m

Cash From Operating Activities

5.5 m

Purchases of PP&E

(3.5 m)

Cash From Investing Activities

(4.3 m)

Long-term Borrowings

(4 m)

Dividends Paid

(3.8 m)

Cash From Financing Activities

(6.9 m)

Interest Paid

1 m

Income Taxes Paid

1.7 m

Tennant Ratios

USDY, 2018

EV/CFO

308.7 x

Debt/Equity

1.2 x

Debt/Assets

0.4 x

Financial Leverage

3.3 x
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