Tennant Company (TNC)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 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 | 359,900 | 338,300 | 333,700 | 318,000 |
| Debt-to-equity 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-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $577,000K
= 0.00
The debt-to-equity ratio of Tennant Co. has shown a fluctuating trend over the past eight quarters. The ratio has ranged from 0.35 to 0.66 during this period, indicating varying levels of leverage utilized by the company.
In Q1 2022, the debt-to-equity ratio was at its highest at 0.65, signaling a higher reliance on debt to finance operations and investments. However, in the following quarters, the ratio decreased to 0.53 in Q2 2023, suggesting a reduction in debt relative to equity.
The most recent data point in Q4 2023 shows a debt-to-equity ratio of 0.35, the lowest observed in the period under review. This implies a comparatively lower level of debt in relation to equity, which may indicate a stronger financial position and lower financial risk for the company.
Overall, the varying trend in the debt-to-equity ratio reflects changes in Tennant Co.'s capital structure and financial leverage over time. It is essential for investors and stakeholders to closely monitor this ratio to assess the company's risk profile and financial health.
Peer comparison
Dec 31, 2023