Tennant Company (TNC)
Return on assets (ROA)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 109,500 | 102,300 | 95,000 | 80,300 | 66,300 | 50,400 | 56,300 | 49,500 | 64,900 | 59,500 | 49,700 | 54,200 | 33,700 | 42,100 | 45,000 | 45,500 | 45,700 | 42,500 | 37,600 | 35,500 |
| Total assets | US$ in thousands | 1,113,400 | 1,059,300 | 1,108,300 | 1,100,700 | 1,085,100 | 1,005,100 | 1,025,200 | 1,050,200 | 1,061,700 | 1,067,100 | 1,081,400 | 1,080,800 | 1,082,600 | 1,063,500 | 1,028,200 | 1,150,200 | 1,062,900 | 1,045,100 | 1,070,800 | 1,040,700 |
| ROA | 9.83% | 9.66% | 8.57% | 7.30% | 6.11% | 5.01% | 5.49% | 4.71% | 6.11% | 5.58% | 4.60% | 5.01% | 3.11% | 3.96% | 4.38% | 3.96% | 4.30% | 4.07% | 3.51% | 3.41% |
December 31, 2023 calculation
ROA = Net income (ttm) ÷ Total assets
= $109,500K ÷ $1,113,400K
= 9.83%
Tennant Co.'s return on assets (ROA) has shown a positive trend over the past eight quarters. The ROA has consistently increased from 4.71% in Q1 2022 to 9.83% in Q4 2023. This indicates that the company's ability to generate profit from its assets has been improving steadily.
The rising trend in ROA suggests that Tennant Co. is utilizing its assets more efficiently to generate earnings. The company's management may have been successful in implementing strategies to optimize asset utilization and improve profitability.
Overall, the increasing ROA reflects positively on Tennant Co.'s financial performance and management's effectiveness in generating returns from the company's assets. Investors and stakeholders may view this trend as a favorable indicator of the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2023