Tennant Company (TNC)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,113,400K
= 0.00
The debt-to-assets ratio of Tennant Co. has exhibited a downward trend over the past eight quarters, indicating a relatively lower proportion of debt in relation to the company's total assets. The ratio decreased from 0.28 in Q4 2022 to 0.18 in Q4 2023. This reduction suggests that Tennant Co. has been successful in managing its debt levels in comparison to its asset base. The company's ability to reduce its debt-to-assets ratio may signify improved financial health and lower financial risk. However, it is essential to monitor this ratio over time to ensure sustainable financial stability.
Peer comparison
Dec 31, 2023
Company name
Symbol
Debt-to-assets ratio
Tennant Company
TNC
0.00
Hayward Holdings Inc
HAYW
0.37
Middleby Corp
MIDD
0.34
Standex International Corporation
SXI
0.15