Tennant Company

tennantco.com

What Do They Do?

Sells floor-cleaning equipment, related parts and consumables, and maintenance and repair services to contract cleaners and businesses that maintain their own facilities.

How Do They Make Money?

Customers pay for equipment and parts when products ship; service income comes from work performed or service contracts, with separately priced prepaid contracts paid at the start.

revenue

Segment	Share	How money arrives
Equipment Sold outright	59% FY2022: 61%	Sold outright
Parts and consumables Sold outright	23% FY2022: 24%	Sold outright
Service and other Mix	18% FY2022: 15%	Mix

Who Are Their Customers?

Tennant sells directly in 21 countries and through distributors in more than 100 countries, reaching buyers through its direct sales and service organization and authorized distributors worldwide.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 4 cents into free cash flow.

Operating income, FY2025

6% of revenue

▼ −40% vs FY2024 ($114.3M, 9%)

Net income, FY2025

4% of revenue

▼ −48% vs FY2024 ($83.7M, 7%)

Free cash flow, FY2025

4% of revenue

▼ −37% vs FY2024 ($68.8M, 5%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +2%; vs $318.6M in Q2 FY2025
Net income: ▼ −62%; vs $20.2M in Q2 FY2025

Equipment share of revenue vs 61.8% in Q2 FY2025

Jul 30, 2026 CFO Fay West plans to retire She expects to retire after a successor is hired and a transition period, but no earlier than April 2, 2027.

Growing. Revenue grew 10% in 4 years, from $1.1B in FY2021 to $1.2B in FY2025, about 2% a year.

Revenue over time

Equipment Parts and consumables Service and other Specialty surface coatings

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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