Tennant Company (TNC) - Net Assets
Based on the latest financial reports, Tennant Company (TNC) has net assets worth $533.00 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.28 Billion) and total liabilities ($743.60 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how tangible is Tennant Company's equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $533.00 Million |
| % of Total Assets | 41.75% |
| Annual Growth Rate | 5.94% |
| 5-Year Change | 38.68% |
| 10-Year Change | 116.63% |
| Growth Volatility | 8.34 |
Tennant Company - Net Assets Trend (1985–2025)
This chart illustrates how Tennant Company's net assets have evolved over time, based on quarterly financial data. See how many days can Tennant Company fund operations to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Tennant Company (1985–2025)
The table below shows the annual net assets of Tennant Company from 1985 to 2025. For live valuation and market cap data, see Tennant Company (TNC) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $603.40 Million | -3.01% |
| 2024-12-31 | $622.10 Million | +7.57% |
| 2023-12-31 | $578.30 Million | +22.50% |
| 2022-12-31 | $472.10 Million | +8.50% |
| 2021-12-31 | $435.10 Million | +7.14% |
| 2020-12-31 | $406.10 Million | +12.40% |
| 2019-12-31 | $361.30 Million | +14.21% |
| 2018-12-31 | $316.35 Million | +5.99% |
| 2017-12-31 | $298.47 Million | +7.16% |
| 2016-12-31 | $278.54 Million | +10.44% |
| 2015-12-31 | $252.21 Million | -10.14% |
| 2014-12-31 | $280.65 Million | +6.37% |
| 2013-12-31 | $263.85 Million | +12.25% |
| 2012-12-31 | $235.05 Million | +6.43% |
| 2011-12-31 | $220.85 Million | +2.18% |
| 2010-12-31 | $216.13 Million | +17.29% |
| 2009-12-31 | $184.28 Million | -12.21% |
| 2008-12-31 | $209.90 Million | -16.85% |
| 2007-12-31 | $252.43 Million | +9.91% |
| 2006-12-31 | $229.66 Million | +18.93% |
| 2005-12-31 | $193.10 Million | +10.96% |
| 2004-12-31 | $174.03 Million | +5.08% |
| 2003-12-31 | $165.62 Million | +7.44% |
| 2002-12-31 | $154.15 Million | -0.12% |
| 2001-12-31 | $154.33 Million | -0.40% |
| 2000-12-31 | $154.95 Million | +14.02% |
| 1999-12-31 | $135.90 Million | +3.50% |
| 1998-12-31 | $131.30 Million | -2.09% |
| 1997-12-31 | $134.10 Million | +4.03% |
| 1996-12-31 | $128.90 Million | +12.97% |
| 1995-12-31 | $114.10 Million | +18.48% |
| 1994-12-31 | $96.30 Million | +14.51% |
| 1993-12-31 | $84.10 Million | -0.94% |
| 1992-12-31 | $84.90 Million | +10.84% |
| 1991-12-31 | $76.60 Million | +4.64% |
| 1990-12-31 | $73.20 Million | -1.21% |
| 1989-12-31 | $74.10 Million | -5.00% |
| 1988-12-31 | $78.00 Million | +12.23% |
| 1987-12-31 | $69.50 Million | +6.27% |
| 1986-12-31 | $65.40 Million | +9.18% |
| 1985-12-31 | $59.90 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tennant Company's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 986.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $628.10 Million | 104.40% |
| Common Stock | $6.70 Million | 1.11% |
| Other Comprehensive Income | $-33.20 Million | -5.52% |
| Total Equity | $601.60 Million | 100.00% |
Tennant Company Competitors by Market Cap
The table below lists competitors of Tennant Company ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Suzhou Sushi Testing Instrument Co Ltd
SHE:300416
|
$1.48 Billion |
|
Republic Bancorp Inc
NASDAQ:RBCAA
|
$1.48 Billion |
|
Heineken Bhd
KLSE:3255
|
$1.48 Billion |
|
Qingdao Gaoce Technology Co Ltd
SHG:688556
|
$1.48 Billion |
|
QCR Holdings Inc
NASDAQ:QCRH
|
$1.48 Billion |
|
Resilient Property Income Fund Ltd
JSE:RES
|
$1.48 Billion |
|
Tega Industries Limited
NSE:TEGA
|
$1.48 Billion |
|
Meridianlink Inc
NYSE:MLNK
|
$1.48 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tennant Company's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 620,800,000 to 601,600,000, a change of -19,200,000 (-3.1%).
- Net income of 43,800,000 contributed positively to equity growth.
- Dividend payments of 21,900,000 reduced retained earnings.
- Share repurchases of 88,500,000 reduced equity.
- Other comprehensive income increased equity by 39,500,000.
- Other factors increased equity by 7,900,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $43.80 Million | +7.28% |
| Dividends Paid | $21.90 Million | -3.64% |
| Share Repurchases | $88.50 Million | -14.71% |
| Other Comprehensive Income | $39.50 Million | +6.57% |
| Other Changes | $7.90 Million | +1.31% |
| Total Change | $- | -3.09% |
Book Value vs Market Value Analysis
This analysis compares Tennant Company's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.80x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 32.35x to 2.80x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $2.80 | $90.75 | x |
| 1986-12-31 | $3.06 | $90.75 | x |
| 1987-12-31 | $3.27 | $90.75 | x |
| 1988-12-31 | $3.68 | $90.75 | x |
| 1989-12-31 | $3.76 | $90.75 | x |
| 1990-12-31 | $3.71 | $90.75 | x |
| 1991-12-31 | $3.93 | $90.75 | x |
| 1992-12-31 | $4.31 | $90.75 | x |
| 1993-12-31 | $4.28 | $90.75 | x |
| 1994-12-31 | $4.88 | $90.75 | x |
| 1995-12-31 | $5.72 | $90.75 | x |
| 1996-12-31 | $6.56 | $90.75 | x |
| 1997-12-31 | $6.83 | $90.75 | x |
| 1998-12-31 | $6.46 | $90.75 | x |
| 1999-12-31 | $7.45 | $90.75 | x |
| 2000-12-31 | $8.49 | $90.75 | x |
| 2001-12-31 | $8.37 | $90.75 | x |
| 2002-12-31 | $8.49 | $90.75 | x |
| 2003-12-31 | $9.13 | $90.75 | x |
| 2004-12-31 | $9.50 | $90.75 | x |
| 2005-12-31 | $10.37 | $90.75 | x |
| 2006-12-31 | $12.09 | $90.75 | x |
| 2007-12-31 | $13.18 | $90.75 | x |
| 2008-12-31 | $11.30 | $90.75 | x |
| 2009-12-31 | $9.96 | $90.75 | x |
| 2010-12-31 | $11.18 | $90.75 | x |
| 2011-12-31 | $11.41 | $90.75 | x |
| 2012-12-31 | $12.31 | $90.75 | x |
| 2013-12-31 | $14.01 | $90.75 | x |
| 2014-12-31 | $14.98 | $90.75 | x |
| 2015-12-31 | $13.64 | $90.75 | x |
| 2016-12-31 | $15.50 | $90.75 | x |
| 2017-12-31 | $16.76 | $90.75 | x |
| 2018-12-31 | $17.15 | $90.75 | x |
| 2019-12-31 | $19.50 | $90.75 | x |
| 2020-12-31 | $21.72 | $90.75 | x |
| 2021-12-31 | $23.01 | $90.75 | x |
| 2022-12-31 | $25.18 | $90.75 | x |
| 2023-12-31 | $30.72 | $90.75 | x |
| 2024-12-31 | $32.51 | $90.75 | x |
| 2025-12-31 | $32.38 | $90.75 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tennant Company utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 7.28%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.64%
- • Asset Turnover: 0.95x
- • Equity Multiplier: 2.11x
- Recent ROE (7.28%) is below the historical average (12.72%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 14.52% | 6.37% | 1.52x | 1.50x | $2.71 Million |
| 1986 | 13.46% | 5.81% | 1.59x | 1.45x | $2.26 Million |
| 1987 | 14.10% | 5.87% | 1.57x | 1.53x | $2.85 Million |
| 1988 | 14.87% | 6.31% | 1.56x | 1.51x | $3.80 Million |
| 1989 | 19.97% | 7.51% | 1.68x | 1.59x | $7.39 Million |
| 1990 | 21.31% | 7.38% | 1.82x | 1.59x | $8.28 Million |
| 1991 | 15.67% | 6.04% | 1.78x | 1.46x | $4.34 Million |
| 1992 | 10.84% | 4.28% | 1.67x | 1.52x | $710.00K |
| 1993 | 10.82% | 4.12% | 1.72x | 1.53x | $690.00K |
| 1994 | 16.30% | 5.57% | 1.54x | 1.90x | $6.07 Million |
| 1995 | 17.27% | 6.05% | 1.51x | 1.89x | $8.29 Million |
| 1996 | 16.29% | 6.10% | 1.57x | 1.70x | $8.11 Million |
| 1997 | 18.05% | 6.50% | 1.59x | 1.74x | $10.79 Million |
| 1998 | 19.27% | 6.50% | 1.63x | 1.82x | $12.17 Million |
| 1999 | 14.50% | 4.59% | 1.67x | 1.89x | $6.11 Million |
| 2000 | 18.23% | 6.22% | 1.72x | 1.70x | $12.76 Million |
| 2001 | 3.11% | 1.14% | 1.72x | 1.60x | $-10.63 Million |
| 2002 | 5.36% | 1.95% | 1.66x | 1.66x | $-7.15 Million |
| 2003 | 8.55% | 3.12% | 1.75x | 1.56x | $-2.41 Million |
| 2004 | 7.69% | 2.63% | 1.78x | 1.64x | $-4.02 Million |
| 2005 | 11.88% | 4.15% | 1.78x | 1.61x | $3.63 Million |
| 2006 | 12.98% | 4.98% | 1.69x | 1.54x | $6.84 Million |
| 2007 | 15.79% | 6.00% | 1.74x | 1.51x | $14.62 Million |
| 2008 | 5.06% | 1.51% | 1.54x | 2.18x | $-10.37 Million |
| 2009 | -14.24% | -4.40% | 1.58x | 2.05x | $-44.67 Million |
| 2010 | 16.10% | 5.21% | 1.65x | 1.87x | $13.19 Million |
| 2011 | 14.81% | 4.34% | 1.78x | 1.92x | $10.63 Million |
| 2012 | 17.69% | 5.63% | 1.76x | 1.79x | $18.08 Million |
| 2013 | 15.25% | 5.35% | 1.65x | 1.73x | $13.85 Million |
| 2014 | 18.05% | 6.16% | 1.69x | 1.74x | $22.59 Million |
| 2015 | 12.72% | 3.95% | 1.88x | 1.71x | $6.87 Million |
| 2016 | 16.73% | 5.76% | 1.72x | 1.69x | $18.76 Million |
| 2017 | -2.09% | -0.62% | 1.01x | 3.35x | $-35.85 Million |
| 2018 | 10.63% | 2.97% | 1.13x | 3.16x | $1.97 Million |
| 2019 | 12.73% | 4.03% | 1.07x | 2.95x | $9.81 Million |
| 2020 | 8.33% | 3.37% | 0.92x | 2.67x | $-6.78 Million |
| 2021 | 14.96% | 5.95% | 1.03x | 2.45x | $21.52 Million |
| 2022 | 14.08% | 6.07% | 1.01x | 2.30x | $19.22 Million |
| 2023 | 18.98% | 8.81% | 1.12x | 1.93x | $51.80 Million |
| 2024 | 13.48% | 6.51% | 1.08x | 1.92x | $21.62 Million |
| 2025 | 7.28% | 3.64% | 0.95x | 2.11x | $-16.36 Million |
Industry Comparison
This section compares Tennant Company's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $528,513,197
- Average return on equity (ROE) among peers: 2.89%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tennant Company (TNC) | $533.00 Million | 14.52% | 1.40x | $1.48 Billion |
| Ametek Inc (AME) | $252.90 Million | 16.29% | 1.13x | $53.06 Billion |
| American Superconductor Corporation (AMSC) | $144.57 Million | -7.69% | 0.61x | $1.88 Billion |
| Smith AO Corporation (AOS) | $511.05 Million | 10.05% | 1.40x | $6.60 Billion |
| ATS Corporation (ATS) | $552.84 Million | 2.28% | 0.30x | $2.72 Billion |
| Babcock & Wilcox Enterprises Inc (BW) | $561.00 Million | -20.61% | 1.73x | $2.36 Billion |
| Broadwind Energy Inc (BWEN) | $103.31 Million | -17.33% | 0.38x | $50.81 Million |
| Clean Energy Technologies, Inc. Common Stock (CETY) | $-273.03K | 0.00% | 0.00x | $10.34 Million |
| Cummins Inc (CMI) | $711.60 Million | 7.08% | 1.40x | $93.77 Billion |
| Crane Company (CR) | $1.90 Billion | 21.07% | 1.31x | $10.47 Billion |
| CSW Industrials, Inc. (CSW) | $544.14 Million | 17.72% | 0.92x | $4.86 Billion |
About Tennant Company
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 mai… Read more