Tennant Company (TNC)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 109,500 | 66,300 | 64,900 | 33,700 | 45,800 |
| Revenue | US$ in thousands | 1,243,900 | 1,094,700 | 1,081,300 | 975,000 | 1,137,600 |
| Net profit margin | 8.80% | 6.06% | 6.00% | 3.46% | 4.03% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $109,500K ÷ $1,243,900K
= 8.80%
Tennant Co.'s net profit margin has shown improvement over the past five years, with a notable increase from 4.03% in 2019 to 8.81% in 2023. This indicates that the company has become more effective in managing its expenses relative to its revenue generation. The upward trend in net profit margin suggests enhanced operational efficiency and/or effective cost control measures implemented by the company. It is important to note that a higher net profit margin signifies that a larger proportion of revenue is translating into profits, which can be indicative of overall financial health and performance.
Peer comparison
Dec 31, 2023
Company name
Symbol
Net profit margin
Tennant Company
TNC
8.80%
Hayward Holdings Inc
HAYW
8.79%
Middleby Corp
MIDD
9.91%
Standex International Corporation
SXI
10.14%