Question 1

What is Tennant's P/E ratio?

Accepted Answer

Tennant (TNC) P/E ratio is 49.7× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Tennant?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Tennant specifically, the relevant sector benchmark is the current sector median of 27.8×.

Question 5

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

Accepted Answer

Tennant's P/E ratio of 49.7× is above its own 5-year average of 21.8× and above the sector median of 27.8×. That places the current reading at the 98th 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/E ratio range?

Accepted Answer

In the available daily series, Tennant (TNC) P/E ratio has ranged from a low of 13.5× in 2023 to a high of 1134.1× in 2018. The 5-year average is 21.8× and the 5-year median is 20.5×.

Question 7

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

Accepted Answer

Tennant (TNC) P/E ratio at the end of 2025 was 30.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$43.8M	30.2×	+11.9×	Dec 31, 2025
2024	$1.53B	$83.7M	18.3×	+2.6×	Dec 31, 2024
2023	$1.72B	$110M	15.7×	-1.4×	Dec 31, 2023
2022	$1.14B	$66.3M	17.2×	-5.9×	Dec 31, 2022
2021	$1.49B	$64.9M	23.0×	-15.3×	Dec 31, 2021
2020	$1.29B	$33.7M	38.3×	+7.3×	Dec 31, 2020
2019	$1.42B	$45.8M	31.0×	+2.9×	Dec 31, 2019
2018	$939M	$33.4M	28.1×	—	Dec 31, 2018
2017	$1.29B	-$6.2M	—	—	Dec 31, 2017
2016	$1.25B	$46.6M	26.8×	-4.1×	Dec 31, 2016
2015	$993M	$32.1M	30.9×	+4.9×	Dec 31, 2015
2014	$1.32B	$50.7M	26.0×	-4.9×	Dec 31, 2014
2013	$1.24B	$40.2M	30.9×	+11.4×	Dec 31, 2013
2012	$809M	$41.6M	19.4×	-2.8×	Dec 31, 2012
2011	$728M	$32.7M	22.2×	+1.3×	Dec 31, 2011
2010	$728M	$34.8M	20.9×	—	Dec 31, 2010
2009	$489M	-$26.2M	—	—	Dec 31, 2009
2008	$280M	$10.6M	26.4×	+5.9×	Dec 31, 2008
2007	$817M	$39.9M	20.5×	+2.3×	Dec 31, 2007
2006	$543M	$29.8M	18.2×	-2.5×	Dec 31, 2006
2005	$476M	$22.9M	20.7×	-6.0×	Dec 31, 2005
2004	$357M	$13.4M	26.7×	-0.9×	Dec 31, 2004
2003	$391M	$14.2M	27.6×	-7.2×	Dec 31, 2003
2002	$293M	$8.4M	34.8×	—	Dec 31, 2002


Pentair (PNR)	21.1×
Lennox International (LII)	20.6×
Copart (CPRT)	20.4×
Union Pacific (UNP)	19.9×
Allegion (ALLE)	19.7×
Alamo Group (ALG)	19.6×
Andersons (ANDE)	19.0×
Carlisle Companies (CSL)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
FedEx (FDX)	18.4×
Pool (POOL)	18.1×
McGrath RentCorp (MGRC)	17.5×
Honeywell International (HON)	17.5×
A. O. Smith (AOS)	17.4×
Textron (TXT)	16.6×
Northrop Grumman (NOC)	16.1×
United Parcel Service (UPS)	15.9×
Delta Air Lines (DAL)	15.5×
ABM Industries (ABM)	15.2×
Masco (MAS)	14.6×
Upwork (UPWK)	12.9×
United Airlines Holdings (UAL)	12.7×
AGCO (AGCO)	10.9×

P/E Ratio for Tennant (TNC) 2002-2026

P/E Ratio daily chart for Tennant (TNC)

Historical P/E Ratio for Tennant (TNC) from 2002 to 2025

About P/E Ratio at Tennant (TNC)

Tennant P/E Ratio by Year

Tennant P/E Ratio 2025: 30.2×

Tennant P/E Ratio 2024: 18.3×

Tennant P/E Ratio 2023: 15.7×

Tennant P/E Ratio 2022: 17.2×

Tennant P/E Ratio 2021: 23.0×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Tennant (TNC) Key Financials