Tennant Company (TNC)
Debt-to-assets ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 1,190,100 | 1,113,400 | 1,085,100 | 1,061,700 | 1,082,600 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,190,100K
= 0.00
Tennant Company's debt-to-assets ratio has consistently remained at 0.00 from December 31, 2020, to December 31, 2024. This indicates that the company has not used debt as a source of financing compared to its total assets over the specified period. Having a debt-to-assets ratio of 0.00 signifies that Tennant Company relies more on equity financing rather than debt, which could indicate a lower level of financial risk associated with the company's operations.
Peer comparison
Dec 31, 2024
Company name
Symbol
Debt-to-assets ratio
Tennant Company
TNC
0.00
Hayward Holdings Inc
HAYW
0.00
Middleby Corp
MIDD
0.00
Standex International Corporation
SXI
0.15