Tennant Company
- Open
- 87.35
- Day high
- 87.95
- Day low
- 86.45
- Prev close
- 87.54
- Volume
- 59K
- Mkt cap
- $1.5B
- P/E (TTM)
- 51.8
- EPS (TTM)
- $1.67
- P/B
- 2.8
- P/S
- 1.2
- Yield
- 0.72%
- Per share
- $0.62
- ▼Insiders net selling -$605K over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions reducing (13F)
Tennant Company (TNC) is a Industrials company listed on NYSE. The stock is up 10% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Tennant Company (TNC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TNC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.24 | $0.58 | +141.7% | $298M | +3.0% |
| Feb 23, 2026 | $1.68 | $1.39 | -17.3% | $292M | -4.9% |
| Apr 30, 2025 | $1.38 | $1.12 | -18.8% | $290M | -10.1% |
| Feb 17, 2025 | $1.34 | $1.52 | +13.4% | $329M | +1.7% |
| Oct 31, 2024 | $1.44 | $1.39 | -3.5% | $316M | -2.5% |
| Aug 8, 2024 | $1.72 | $1.83 | +6.4% | $331M | +1.2% |
| May 3, 2024 | $1.42 | $1.81 | +27.5% | $311M | +0.2% |
| Feb 22, 2024 | $1.25 | $1.92 | +53.6% | $311M | +0.5% |
| Oct 31, 2023 | $1.15 | $1.34 | +16.5% | $305M | +2.7% |
| Aug 4, 2023 | $1.16 | $1.86 | +60.3% | $322M | +10.3% |
| Apr 28, 2023 | $0.84 | $1.45 | +72.6% | $306M | +4.8% |
| Feb 23, 2023 | $1.21 | $1.46 | +20.7% | $291M | -0.1% |
TNC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 11, 2026 | Morse Timothy R.director | Grant | 1,490 | — |
| May 11, 2026 | SHEAHAN MARK Wdirector | Grant | 1,490 | — |
| May 11, 2026 | Windley Daviddirector | Grant | 1,490 | — |
| May 11, 2026 | Mulligan Donal Ldirector | Grant | 1,490 | — |
| May 11, 2026 | Hider Andrew P.director | Grant | 1,490 | — |
| May 11, 2026 | Glerum James T Jr.director | Grant | 1,490 | — |
| May 11, 2026 | GREEN MARIA Cdirector | Grant | 1,490 | — |
| May 11, 2026 | Arvani Azitadirector | Grant | 1,490 | — |
| May 11, 2026 | ALLEN PATRICK Edirector | Grant | 1,490 | — |
| May 11, 2026 | Zay Richard H.officer: CHIEF COMMERCIAL OFFICER | Sell | 6,875 | $88.02 |
| May 11, 2026 | EICHER CAROL Sdirector | Grant | 1,490 | — |
| Apr 16, 2026 | Mulligan Donal Ldirector | Option | 3,538 | $54.70 |
| Apr 16, 2026 | Mulligan Donal Ldirector | Tax | 2,456 | $78.81 |
| Mar 3, 2026 | ERICKSON KRISTIN A.officer: SVP, CHRO & GC | Tax | 514 | $61.03 |
| Mar 3, 2026 | Zay Richard H.officer: CHIEF COMMERCIAL OFFICER | Tax | 840 | $61.03 |
Source: TNC SEC Form 4 filings, latest May 11, 2026. For informational purposes only — not investment advice.
See the full TNC insider & 13F page →Tennant Company company profile
Overview
Tennant Company (NYSE:TNC) is a leading manufacturer of industrial floor cleaning equipment founded in 1870 and headquartered in Eden Prairie, Minnesota. The company has evolved from a small wood floor manufacturing business into a global leader in cleaning solutions, serving customers across the Americas, Europe, Middle East, Africa, and Asia-Pacific regions. Tennant designs, manufactures, and markets a comprehensive suite of floor maintenance equipment, sustainable cleaning technologies, and related services to businesses ranging from retail establishments to large industrial facilities.
Business
Tennant Company operates in the industrial floor cleaning equipment market, manufacturing machines that clean and maintain floors in commercial and industrial settings. The company's core products include floor scrubbers (machines that wash and dry floors simultaneously), sweepers (equipment that collects debris and dust), burnishers (machines that polish hard floors), and increasingly, Autonomous Mobile Robots (AMRs) that perform cleaning tasks without human operators. The company's product portfolio spans from small walk-behind units for tight spaces to large ride-on machines for warehouses and factories. Tennant also offers detergent-free cleaning technologies that use engineered water or other sustainable methods to clean without chemicals. Beyond equipment, the company provides aftermarket parts, consumables, maintenance services, and financing solutions. Tennant's business operates through three main geographic segments: 1. Americas (approximately 65% of revenue) - primarily North America and Latin America, 2. EMEA (Europe, Middle East, Africa - approximately 25% of revenue), and 3. Asia-Pacific (approximately 10% of revenue) - with China being the largest market in this region. The company sells under multiple brand names including Tennant, Nobles, IPC, and Gaomei, serving diverse end markets from retail stores and office buildings to manufacturing facilities and public venues like airports and hospitals.
Revenue model
Tennant generates revenue through multiple streams within the floor cleaning equipment ecosystem. The primary revenue source is equipment sales, which accounts for the majority of total revenue, where customers purchase cleaning machines outright. The company also generates substantial recurring revenue from parts and consumables sales, as cleaning equipment requires regular replacement of brushes, squeegees, filters, and cleaning solutions throughout the machine's lifecycle. Additionally, Tennant provides service and maintenance contracts, generating ongoing revenue from equipment repairs, preventive maintenance, and technical support. The company offers financing, rental, and leasing programs to help customers manage capital expenditures, earning interest income and rental fees. A growing segment is the company's Clean 360 subscription program for AMR equipment, which provides predictable monthly revenue while guaranteeing equipment uptime. Tennant's customers are primarily businesses that need to maintain clean floors, including contract cleaning companies, retail chains, manufacturing facilities, healthcare institutions, educational facilities, and government entities. The company reaches these customers through direct sales forces and a network of authorized distributors globally. Several factors influence Tennant's profitability margins. Commodity price inflation for steel, plastics, and electronic components can pressure gross margins, while the company's ability to implement price increases (targeting 50-100 basis points annually) helps offset these costs. Supply chain disruptions can constrain production and increase costs, as experienced during recent years. Currency fluctuations affect international operations, while economic downturns can reduce customer capital expenditure budgets. Conversely, labor shortages in cleaning industries can drive demand for automated solutions like AMRs, and the company's focus on higher-margin products and services helps improve overall profitability.
Competitive moat
Tennant Company possesses a moderate competitive moat built primarily on brand recognition, distribution networks, and service capabilities rather than strong structural advantages. The company benefits from over 150 years of industry experience and established relationships with commercial cleaning contractors and facility managers who value reliability and service support for mission-critical cleaning equipment. The company's global service network and parts distribution system creates switching costs for customers, as downtime for cleaning equipment can significantly impact operations. Tennant's investment in Autonomous Mobile Robot technology, including its $32 million investment in Brain Corp, provides some technological differentiation, though this advantage may be temporary as competitors develop similar capabilities. However, Tennant's moat faces several challenges. The floor cleaning equipment market includes numerous competitors ranging from large multinational companies to regional manufacturers, limiting pricing power. Technological disruption from new entrants offering innovative cleaning technologies or robotics solutions could erode market share. The company's exposure to cyclical commercial real estate and industrial markets makes it vulnerable to economic downturns when customers defer capital equipment purchases. The rise of autonomous cleaning technologies presents both opportunity and threat - while Tennant is investing heavily in AMRs, technology companies with superior software and AI capabilities could potentially disrupt traditional equipment manufacturers. Additionally, the company's significant exposure to international markets, particularly China, creates vulnerability to geopolitical tensions and local competition that may offer lower-cost alternatives.
Risks & safety
Tennant Company presents a moderate margin of safety with solid financial fundamentals but some cyclical risks. • Liquidity and Solvency: Strong current ratio of 2.14 and $79.5 million in cash provides adequate liquidity. Debt-to-equity ratio of 0.40 indicates manageable leverage levels. • Cash Flow: Recent quarters show mixed cash generation with Q1 2025 free cash flow of -$7.4 million, though full-year 2024 generated positive $68.3 million in free cash flow. • Valuation Metrics: Trading at 28.5x P/E ratio and 21.2x EV/EBITDA, suggesting the stock is not deeply undervalued. Price-to-book ratio of 2.39 indicates market premium to book value. • Operational Risks: Facing $40 million estimated tariff impact in 2025, though management has mitigation strategies. Cyclical nature of capital equipment purchases creates earnings volatility risk. • Market Position: Established market presence with diversified geographic exposure, though significant China exposure creates geopolitical risk.
Recent development
Over the past few years, Tennant has executed a comprehensive transformation strategy focused on three pillars: Growth, Performance, and People. The company has significantly expanded its Autonomous Mobile Robot (AMR) portfolio, launching the X4 and X6 ROVR models and achieving $75 million in AMR sales in 2024, with ambitious targets to exceed $100 million by 2027. This represents a strategic shift toward higher-technology, higher-margin products that address labor shortages in the cleaning industry. Tennant has also introduced the Clean 360 subscription program, offering AMR equipment as a service with guaranteed 90% uptime, creating a recurring revenue model that reduces customer capital expenditure requirements. The company completed a $32 million investment in Brain Corp to enhance its robotics capabilities and has expanded its i-mop small-space cleaning product line to 30 additional countries. On the operational front, Tennant is implementing a comprehensive ERP modernization project with a $75 million investment, expecting $10-15 million in annual efficiency savings starting in 2026. The company has also pursued strategic acquisitions, including TCS in Eastern Europe, and has developed a pipeline of 800 potential acquisition targets focused on core business expansion, connected autonomy, and adjacent markets. The company has demonstrated pricing discipline, achieving over 200 basis points of price growth in 2024 while targeting 50-100 basis points annually going forward. Tennant has also committed to ambitious sustainability goals, including net-zero greenhouse gas emissions by 2040 and 100% electrification of its product offerings by the same date.
TNC company profile · for informational purposes only — not investment advice.
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