Tennant Company (TNC)
Current 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 576,600 | 593,900 | 577,800 | 561,100 | 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 |
| 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 |
| Current ratio | 1.97 | 2.17 | 2.17 | 2.15 | 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 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $576,600K ÷ $292,200K
= 1.97
The current ratio of Tennant Company, calculated by dividing its current assets by its current liabilities, has fluctuated over the period from March 31, 2020, to December 31, 2024. The current ratio started at 2.60 on March 31, 2020, indicating that the company had $2.60 in current assets for every $1 of current liabilities.
The ratio then decreased to 1.83 on June 30, 2020, before gradually increasing to 2.20 on December 31, 2022. This improvement in the current ratio suggests that Tennant Company had better liquidity and a stronger ability to cover its short-term obligations.
However, the ratio decreased to 1.97 on June 30, 2024, and then declined further to 1.97 on September 30, 2024. This slight decrease in the current ratio could imply potential challenges for the company in meeting its short-term liabilities with its current assets.
Overall, Tennant Company's current ratio has shown some variability, but has generally remained above 1, indicating that the company has had more current assets than current liabilities throughout the period under review. Investors and stakeholders should continue to monitor the company's liquidity position and sustainability of this trend.
Peer comparison
Dec 31, 2024