Tennant Company (TNC)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 99,600 | 91,300 | 84,600 | 88,800 | 116,900 | 97,000 | 95,800 | 91,400 | 77,400 | 59,200 | 73,800 | 110,400 | 123,600 | 140,600 | 135,100 | 175,200 | 141,000 | 124,700 | 99,300 | 192,100 |
| Short-term investments | US$ in thousands | — | — | 1,100 | 1,100 | 800 | 1,500 | 1,400 | 700 | 800 | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 292,200 | 273,500 | 266,200 | 260,400 | 273,700 | 244,800 | 257,800 | 256,800 | 261,600 | 244,200 | 264,900 | 266,400 | 290,300 | 276,200 | 284,300 | 277,200 | 254,300 | 244,300 | 251,500 | 225,100 |
| Cash ratio | 0.34 | 0.33 | 0.32 | 0.35 | 0.43 | 0.40 | 0.38 | 0.36 | 0.30 | 0.24 | 0.28 | 0.41 | 0.43 | 0.51 | 0.48 | 0.63 | 0.55 | 0.51 | 0.39 | 0.85 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($99,600K
+ $—K)
÷ $292,200K
= 0.34
The cash ratio of Tennant Company has shown fluctuations over the period analyzed. The ratio, which measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents, ranged from a high of 0.85 on March 31, 2020, to a low of 0.24 on September 30, 2022.
The company's cash ratio generally decreased from the initial high point in 2020 to a low in 2022, indicating potential challenges in maintaining sufficient cash reserves relative to its short-term obligations. However, there was a slight recovery in the ratio towards the end of the period, reaching 0.34 on December 31, 2024.
Overall, Tennant Company should continue to monitor and manage its cash position to ensure it can meet its short-term liabilities effectively, especially during periods of lower cash ratios.
Peer comparison
Dec 31, 2024