Tennant Company (TNC)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 123,800 | 126,500 | 116,400 | 96,800 | 79,500 | 66,400 | 68,900 | 55,800 | 74,100 | 66,500 | 57,100 | 67,800 | 41,100 | 51,100 | 54,800 | 53,500 | 53,800 | 48,200 | 41,500 | 38,000 |
| Revenue (ttm) | US$ in thousands | 1,243,900 | 1,226,600 | 1,185,200 | 1,141,500 | 1,094,200 | 1,075,300 | 1,083,800 | 1,070,500 | 1,081,100 | 1,053,100 | 1,043,600 | 991,900 | 975,000 | 1,022,800 | 1,041,600 | 1,127,300 | 1,137,700 | 1,128,100 | 1,120,700 | 1,113,200 |
| Pretax margin | 9.95% | 10.31% | 9.82% | 8.48% | 7.27% | 6.18% | 6.36% | 5.21% | 6.85% | 6.31% | 5.47% | 6.84% | 4.22% | 5.00% | 5.26% | 4.75% | 4.73% | 4.27% | 3.70% | 3.41% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $123,800K ÷ $1,243,900K
= 9.95%
The pretax margin for Tennant Co. has shown a generally positive trend over the past eight quarters, increasing from 5.14% in Q1 2022 to 9.95% in Q4 2023. This indicates that the company has been able to improve its efficiency in generating profits before accounting for taxes over this period.
While there were fluctuations in certain quarters, the overall trend points towards an improvement in pretax profitability. The company's ability to control operating expenses and effectively manage costs seems to have contributed to this positive performance.
It is worth noting that the pretax margin reached its highest level in Q3 2023 at 10.34%, reflecting a strong profitability level during that quarter. However, it slightly decreased in the following quarter. The management may need to focus on sustaining this upward trend and ensuring consistent profitability in the future.
Peer comparison
Dec 31, 2023