Tennant Company (TNC)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,286,700 | 1,243,600 | 1,092,200 | 1,090,800 | 1,001,000 |
| Total assets | US$ in thousands | 1,190,100 | 1,113,400 | 1,085,100 | 1,061,700 | 1,082,600 |
| Total asset turnover | 1.08 | 1.12 | 1.01 | 1.03 | 0.92 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,286,700K ÷ $1,190,100K
= 1.08
The total asset turnover ratio for Tennant Company has shown a positive trend over the past five years, increasing from 0.92 in December 31, 2020 to 1.08 in December 31, 2024. This indicates that the company has been more efficient in generating sales revenue relative to its total assets during this period. The peak in the ratio at 1.12 in December 31, 2023 suggests that the company was able to generate significant sales revenue per dollar of assets invested in that particular year. Overall, the improving trend in total asset turnover reflects a positive performance in utilizing the company's assets to drive sales growth.
Peer comparison
Dec 31, 2024