Tennant Company (TNC)
Total asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,286,700 | 1,269,200 | 1,258,100 | 1,248,800 | 1,243,600 | 1,223,200 | 1,181,400 | 1,139,900 | 1,092,200 | 1,077,600 | 1,086,700 | 1,085,600 | 1,090,800 | 1,087,400 | 1,077,300 | 1,012,200 | 1,001,000 | 1,022,800 | 1,041,600 | 1,127,300 |
| Total assets | US$ in thousands | 1,190,100 | 1,216,100 | 1,167,500 | 1,151,700 | 1,113,400 | 1,059,300 | 1,108,300 | 1,100,700 | 1,085,100 | 1,005,100 | 1,025,200 | 1,050,200 | 1,061,700 | 1,067,100 | 1,081,400 | 1,080,800 | 1,082,600 | 1,063,500 | 1,028,200 | 1,150,200 |
| Total asset turnover | 1.08 | 1.04 | 1.08 | 1.08 | 1.12 | 1.15 | 1.07 | 1.04 | 1.01 | 1.07 | 1.06 | 1.03 | 1.03 | 1.02 | 1.00 | 0.94 | 0.92 | 0.96 | 1.01 | 0.98 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,286,700K ÷ $1,190,100K
= 1.08
Total asset turnover is a financial ratio that measures a company's ability to generate revenue from its assets. The ratio is calculated by dividing the company's net sales by its average total assets. For Tennant Company, the total asset turnover has shown a fluctuating trend over the past few years. In March 2020, the total asset turnover was 0.98, indicating that the company generated $0.98 in sales for every dollar of assets it had.
Since then, the total asset turnover ratio has generally shown an upward trend, reaching its peak at 1.15 in September 2023. This increase suggests that Tennant Company has been more efficient in utilizing its assets to generate sales. However, the ratio slightly decreased to 1.08 by December 2024. Overall, the increasing trend in total asset turnover reflects the company's improving efficiency in generating revenue from its asset base. It is important for Tennant Company to continue monitoring and managing its asset utilization to sustain and potentially improve its total asset turnover ratio in the future.
Peer comparison
Dec 31, 2024