Question 1

What is Tennant's P/FCF ratio?

Accepted Answer

Tennant (TNC) P/FCF ratio is 91.2× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Tennant?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Tennant specifically, the relevant sector benchmark is the current sector median of 24.3×.

Question 5

Is Tennant's P/FCF ratio high or low?

Accepted Answer

Tennant's P/FCF ratio of 91.2× is above its own 5-year average of 29.5× and above the sector median of 24.3×. That places the current reading at the 99th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Tennant's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Tennant (TNC) P/FCF ratio has ranged from a low of 4.6× in 2009 to a high of 445.5× in 2007. The 5-year average is 29.5× and the 5-year median is 22.2×.

Question 7

What was Tennant's P/FCF ratio in 2025?

Accepted Answer

Tennant (TNC) P/FCF ratio at the end of 2025 was 30.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Tennant's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$1.32B	$43.40M	30.5×	+8.1×	Dec 31, 2025
2024	$1.53B	$68.30M	22.4×	+11.9×	Dec 31, 2024
2023	$1.72B	$164.40M	10.5×	—	Dec 31, 2023
2022	$1.14B	−$54.40M	—	—	Dec 31, 2022
2021	$1.49B	$46.20M	32.3×	+19.9×	Dec 31, 2021
2020	$1.29B	$103.80M	12.4×	-30.6×	Dec 31, 2020
2019	$1.42B	$33.00M	43.0×	+26.9×	Dec 31, 2019
2018	$939.29M	$58.41M	16.1×	-25.2×	Dec 31, 2018
2017	$1.29B	$31.24M	41.3×	+1.5×	Dec 31, 2017
2016	$1.25B	$31.35M	39.8×	-8.7×	Dec 31, 2016
2015	$992.80M	$20.45M	48.5×	+15.4×	Dec 31, 2015
2014	$1.32B	$39.78M	33.2×	+5.6×	Dec 31, 2014
2013	$1.24B	$45.04M	27.6×	+2.3×	Dec 31, 2013
2012	$808.55M	$31.94M	25.3×	+8.4×	Dec 31, 2012
2011	$727.73M	$43.01M	16.9×	-5.8×	Dec 31, 2011
2010	$728.38M	$32.00M	22.8×	+15.1×	Dec 31, 2010
2009	$489.29M	$63.72M	7.7×	-9.0×	Dec 31, 2009
2008	$280.26M	$16.76M	16.7×	-58.1×	Dec 31, 2008
2007	$816.75M	$10.92M	74.8×	+41.8×	Dec 31, 2007
2006	$542.76M	$16.45M	33.0×	+12.6×	Dec 31, 2006
2005	$475.87M	$23.36M	20.4×	-2.5×	Dec 31, 2005
2004	$357.28M	$15.61M	22.9×	+6.6×	Dec 31, 2004
2003	$390.65M	$23.97M	16.3×	-31.3×	Dec 31, 2003
2002	$292.65M	$6.15M	47.6×	+32.7×	Dec 31, 2002
2001	$334.72M	$22.48M	14.9×	—	Dec 31, 2001


Alamo Group (ALG)	18.0×
Otis Worldwide (OTIS)	17.9×
Fortive (FTV)	17.9×
Allegion (ALLE)	17.8×
Snap-on (SNA)	17.6×
FedEx (FDX)	17.3×
Norfolk Southern (NSC)	16.9×
Gorman-Rupp (GRC)	16.2×
Automatic Data Processing (ADP)	15.8×
Paychex (PAYX)	15.6×
AGCO (AGCO)	15.4×
General Dynamics (GD)	15.3×
Carlisle Companies (CSL)	14.7×
Amentum Holdings (AMTM)	14.7×
Stanley Black & Decker (SWK)	14.4×
A. O. Smith (AOS)	14.2×
Huntington Ingalls Industries (HII)	14.1×
McGrath RentCorp (MGRC)	13.9×
Pool (POOL)	12.2×
Delta Air Lines (DAL)	11.1×
Builders FirstSource (BLDR)	10.5×
United Airlines Holdings (UAL)	9.4×
Gartner (IT)	8.8×
ABM Industries (ABM)	7.2×
Versant Media Group, Inc. Class A (VSNT)	2.7×

P/FCF Ratio for Tennant (TNC)

P/FCF Ratio daily chart for Tennant (TNC)

Historical P/FCF Ratio for Tennant (TNC) from 2001 to 2025

About P/FCF Ratio at Tennant (TNC)

Tennant P/FCF Ratio by Year

Tennant P/FCF Ratio 2025: 30.5×

Tennant P/FCF Ratio 2024: 22.4×

Tennant P/FCF Ratio 2023: 10.5×

Tennant P/FCF Ratio 2021: 32.3×

Tennant P/FCF Ratio 2020: 12.4×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Tennant (TNC) Key Financials

P/FCF Ratio daily chart for Tennant (TNC)

Historical P/FCF Ratio for Tennant (TNC) from 2001 to 2025

About P/FCF Ratio at Tennant (TNC)

Tennant P/FCF Ratio by Year

Tennant P/FCF Ratio 2025: 30.5×

Tennant P/FCF Ratio 2024: 22.4×

Tennant P/FCF Ratio 2023: 10.5×

Tennant P/FCF Ratio 2021: 32.3×

Tennant P/FCF Ratio 2020: 12.4×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Tennant's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Tennant?

+Is Tennant's P/FCF ratio high or low?

+What is Tennant's historical P/FCF ratio range?

+What was Tennant's P/FCF ratio in 2025?

+Why does Tennant's P/FCF ratio change over time?

Tennant (TNC) Key Financials