What is Tennant Co worth?
With the base-case assumptions below, a discounted cash flow model on Tennant Co's reported free cash flow gives $25.23 per share. The share price was $73.71 on November 10, 2026, 192% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -1.0% | 10.0% | $9.80 | -87% |
| Base | 4.0% | 9.0% | $25.23 | -66% |
| Bull | 9.0% | 8.0% | $54.05 | -27% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $36.21 | $39.54 | $43.61 | $48.69 | $55.24 |
| 8.0% | $28.03 | $30.19 | $32.74 | $35.81 | $39.55 |
| 9.0% | $22.05 | $23.53 | $25.23 | $27.22 | $29.57 |
| 10.0% | $17.49 | $18.54 | $19.73 | $21.09 | $22.66 |
| 11.0% | $13.90 | $14.67 | $15.53 | $16.50 | $17.59 |
Where the presets come from
Base: years 1 to 5 grow at Tennant Co's revenue growth rate over the last 5 fiscal years (3.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions