Tennant Company (TNC)
Return on equity (ROE)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 83,700 | 108,100 | 110,200 | 113,600 | 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 | 42,200 | 45,100 | 45,600 |
| Total stockholders’ equity | US$ in thousands | 620,800 | 647,200 | 624,600 | 614,600 | 577,000 | 545,000 | 520,600 | 491,900 | 470,800 | 425,200 | 432,700 | 436,000 | 433,800 | 441,800 | 436,200 | 420,100 | 404,800 | 393,900 | 371,700 | 357,300 |
| ROE | 13.48% | 16.70% | 17.64% | 18.48% | 18.98% | 18.77% | 18.25% | 16.32% | 14.08% | 11.85% | 13.01% | 11.35% | 14.96% | 13.47% | 11.39% | 12.90% | 8.33% | 10.71% | 12.13% | 12.76% |
December 31, 2024 calculation
ROE = Net income (ttm) ÷ Total stockholders’ equity
= $83,700K ÷ $620,800K
= 13.48%
Tennant Company's return on equity (ROE) has shown fluctuations over the periods provided.
The ROE was relatively stable in the range of low double digits during the first half of 2020, ranging from 10.71% to 12.76%. However, there was a noticeable decline to 8.33% by the end of December 2020.
Subsequently, the company's ROE recovered, reaching levels above 12% in March and June 2021. This positive trend continued through 2021 and 2022, with ROE exceeding 13% in some quarters.
An exceptional increase in ROE was observed in the first half of 2023, with a significant jump from 13.47% in September 2022 to 18.98% by the end of December 2023.
By the end of 2024, Tennant Company's ROE had declined to 13.48%, representing a decrease from the peak levels seen in the prior periods but still higher than the levels observed in late 2020.
Overall, Tennant Company's ROE has displayed variability over the analyzed period, with both peaks and troughs, suggesting fluctuations in the company's profitability relative to its equity. Potential factors affecting these changes may include shifts in the company's financial leverage, profitability, or asset management efficiency.
Peer comparison
Dec 31, 2024