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