TNC
Tennant Company
TNC's fundamentals are weak and it looks expensive: trading at 55x earnings, more than twice its usual 24x. Analysts expect earnings growth.
TNC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Under pressure |
TNC's revenue and profitability are currently stable, but its cash flow and balance sheet are under pressure.
TNC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $75.03 | — |
| Cheap | 17x | $22.83 | -70% |
| Fair | 24x | $32.95 | -56% |
| Expensive | 31x | $42.27 | -44% |
| Current | 55x | $75.03 | — |
Historical ranges are pointers, not guarantees.
TNC's PE is in its expensive range at 55x. If earnings grow as analysts expect, today's price would be 14x next year's earnings, in its cheap range.
TNC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for TNC, with profitability improving.
TNC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.18 | +281% |
| Q3 2026 | $1.36 | -53% |
| Q2 2026 | $1.04 | -68% |
| Q1 2026 | $1.68 | -53% |
| Q4 2025 | $2.36 | -46% |
| Q3 2025 | $2.92 | -49% |
| Q2 2025 | $3.21 | -45% |
| Q1 2025 | $3.58 | -41% |
| Q4 2024 | $4.38 | -25% |
TNC's earnings per share have fallen from their peak: $1.36 over the past year, against $6.02 in early 2024.
TNC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $322.3M | +6.3% |
| Q2 2026 | $324M | +1.7% |
| Q1 2026 | $297.9M | +2.7% |
| Q4 2025 | $291.6M | -11% |
| Q3 2025 | $303.3M | -4% |
| Q2 2025 | $318.6M | -3.7% |
| Q1 2025 | $290M | -6.8% |
| Q4 2024 | $328.9M | +5.6% |
TNC's revenue grew through 2023 and has held roughly level since: $322M last quarter, up 6.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.7% | +2.3 points |
| Q2 2026 | 4.9% | -4.7 points |
| Q1 2026 | 1.6% | -5.1 points |
| Q4 2025 | -1.4% | -3.8 points |
| Q3 2025 | 7.3% | -2.3 points |
| Q2 2025 | 9.6% | -2.1 points |
| Q1 2025 | 6.8% | -5.3 points |
| Q4 2024 | 2.3% | -5.6 points |
TNC's operating margin was 9.7% last quarter, up 2.3 points from the same quarter a year ago.
TNC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.2M | -77% |
| Q2 2026 | -$300K | -102% |
| Q1 2026 | -$34.4M | -$27M |
| Q4 2025 | $9.7M | -65% |
| Q3 2025 | $22.3M | -16% |
| Q2 2025 | $18.7M | +30% |
| Q1 2025 | -$7.4M | -$7.3M |
| Q4 2024 | $28.1M | -50% |
TNC's free cash flow was −$20M over the past year, against $62M the year before.
TNC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -4.7K shares |
| 1 year | -7.4% | -1.4M shares |
| 3 years | -9.1% | -1.7M shares |
| 5 years | -9% | -1.7M shares |
| Available history | -7% | -1.3M shares |
TNC has 17M diluted shares, down 7.4% from a year ago, with $93M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $100,000 |
| Q2 2026 | $500,000 |
| Q1 2026 | $60M |
| Q4 2025 | $32.2M |
| Q3 2025 | $22.7M |
| Q2 2025 | $13.4M |
| Q1 2025 | $20.2M |
| Q4 2024 | $2.5M |
TNC spent $93M buying back its own shares over the past year, up 58% from the year before.
TNC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.6x | Moderate |
| Q2 2026 | 2.9x | Moderate |
| Q1 2026 | 2.4x | Moderate |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.0x | Healthy |
| Q2 2025 | 0.9x | Very low |
| Q1 2025 | 0.9x | Very low |
| Q4 2024 | 0.6x | Very low |
TNC's net debt is about 2.6 years of its operating earnings (EBITDA), up from a year a year ago.
TNC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 52.8 | Neutral |
| Stochastic | 38.5 | Neutral |
TNC's weekly RSI is 53 (neutral) and its Stochastic is 38 (neutral).
TNC PE vs Industrials Sector
| Metric | TNC | Sector median | Relative |
|---|---|---|---|
| PE | 55x | 24x | 130% above |
| PE % | 96 | 58 | 38 pts above |
TNC is trading at 55x earnings, a 130% premium to the Industrials sector's median of 24x.
TNC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $68.2 | 10% above |
| 20 week MA | $73.3 | 2.4% above |
| 50 week MA | $76.0 | 1.3% below |
| 100 week MA | $77.7 | 3.5% below |
| 200 week MA | $83.0 | 9.6% below |
TNC has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 9.6% below its 200-week average.
TNC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $78.3 | $69.5 | -11% |
| 2021 | $69.5 | $80.4 | +16% |
| 2022 | $80.4 | $60.0 | -25% |
| 2023 | $60.0 | $92.7 | +54% |
| 2024 | $92.7 | $80.8 | -13% |
| 2025 | $80.8 | $75.4 | -6.6% |
| 2026 YTD | $75.4 | $75.0 | -0.5% |
TNC has finished lower in four of the last six years. It's down 0.5% so far in 2026.