Tennant Company (TNC)
Current ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 569,100 | 554,600 | 589,800 | 582,400 | 575,300 | 522,000 | 521,100 | 524,800 | 526,800 | 526,300 | 522,400 | 530,500 | 493,600 | 491,300 | 460,900 | 585,200 | 481,000 | 479,500 | 479,400 | 452,400 |
| Total current liabilities | US$ in thousands | 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 | 274,900 | 269,900 | 259,700 | 267,200 |
| Current ratio | 2.08 | 2.27 | 2.29 | 2.27 | 2.20 | 2.14 | 1.97 | 1.97 | 1.81 | 1.91 | 1.84 | 1.91 | 1.94 | 2.01 | 1.83 | 2.60 | 1.75 | 1.78 | 1.85 | 1.69 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $569,100K ÷ $273,700K
= 2.08
The current ratio of Tennant Co. has been consistently above 2 for the past 8 quarters, indicating a strong liquidity position. The company has more than enough current assets to cover its current liabilities in the short term. The trend of a current ratio above 2 suggests that Tennant Co. is well-positioned to meet its short-term financial obligations without facing liquidity constraints. This stability and strength in liquidity indicate that the company is effectively managing its working capital and maintaining a healthy balance between its current assets and current liabilities. Investors and creditors may view Tennant Co. favorably due to its consistent and high current ratio, reflecting a sound financial position.
Peer comparison
Dec 31, 2023