TNC vs. CAT

Last updated Apr 1, 2026

Compare and contrast key facts about Tennant Company (TNC) and Caterpillar Inc. (CAT).

Performance

TNC vs. CAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tennant Company (TNC) and Caterpillar Inc. (CAT). The values are adjusted to include any dividend payments, if applicable.

TNC vs. CAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNC Tennant Company	-9.45%	-8.22%	-11.03%	52.62%	-22.84%	16.87%	-8.78%	51.57%	-27.40%	3.32%
CAT Caterpillar Inc.	23.96%	60.30%	24.66%	25.95%	18.60%	15.95%	26.97%	19.51%	-17.56%	75.03%

Fundamentals

Market Cap TNC : $1.21B CAT : $332.27B
EPS TNC : $2.37 CAT : $18.86
PE Ratio TNC : 28.01 CAT : 37.56
PS Ratio TNC : 1.02 CAT : 4.93
PB Ratio TNC : 2.01 CAT : 15.59
Total Revenue (TTM) TNC : $1.20B CAT : $67.59B
Gross Profit (TTM) TNC : $484.30M CAT : $21.86B
EBITDA (TTM) TNC : $110.00M CAT : $14.51B

Returns By Period

In the year-to-date period, TNC achieves a -9.45% return, which is significantly lower than CAT's 23.96% return. Over the past 10 years, TNC has underperformed CAT with an annualized return of 4.00%, while CAT has yielded a comparatively higher 27.85% annualized return.

TNC

• 1D: 3.22%
• 1M: 8.80%
• YTD: -9.45%
• 6M: -17.33%
• 1Y: -15.34%
• 3Y*: 0.34%
• 5Y*: -2.46%
• 10Y*: 4.00%

CAT

• 1D: 6.15%
• 1M: -4.63%
• YTD: 23.96%
• 6M: 49.25%
• 1Y: 117.77%
• 3Y*: 48.13%
• 5Y*: 27.26%
• 10Y*: 27.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

TNC vs. CAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TNC

TNC Risk / Return Rank: 20
TNC Sharpe Ratio Rank: 23
TNC Sortino Ratio Rank: 23
TNC Omega Ratio Rank: 22
TNC Calmar Ratio Rank: 22
TNC Martin Ratio Rank: 10

CAT

CAT Risk / Return Rank: 97
CAT Sharpe Ratio Rank: 98
CAT Sortino Ratio Rank: 97
CAT Omega Ratio Rank: 96
CAT Calmar Ratio Rank: 96
CAT Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TNC vs. CAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tennant Company (TNC) and Caterpillar Inc. (CAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TNC	CAT	Difference
Sharpe ratio Return per unit of total volatility	-0.42	3.42	-3.84
Sortino ratio Return per unit of downside risk	-0.31	4.04	-4.35
Omega ratio Gain probability vs. loss probability	0.95	1.54	-0.60
Calmar ratio Return relative to maximum drawdown	-0.59	6.50	-7.09
Martin ratio Return relative to average drawdown	-1.48	22.99	-24.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TNC vs. CAT - Sharpe Ratio Comparison

The current TNC Sharpe Ratio is -0.42, which is lower than the CAT Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of TNC and CAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TNC	CAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	3.42	-3.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	0.92	-1.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	0.92	-0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.34	-0.13

Correlation

The correlation between TNC and CAT is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TNC vs. CAT - Dividend Comparison

TNC's dividend yield for the trailing twelve months is around 1.82%, more than CAT's 0.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TNC Tennant Company	1.82%	1.62%	1.39%	1.16%	1.65%	1.16%	1.27%	1.13%	1.63%	1.16%	1.14%	1.42%
CAT Caterpillar Inc.	0.84%	1.02%	1.49%	1.69%	1.93%	2.07%	2.26%	2.56%	2.58%	1.97%	3.32%	4.33%

Drawdowns

TNC vs. CAT - Drawdown Comparison

The maximum TNC drawdown since its inception was -83.81%, which is greater than CAT's maximum drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for TNC and CAT.

Drawdown Indicators

	TNC	CAT	Difference
Max Drawdown Largest peak-to-trough decline	-83.81%	-73.43%	-10.38%
Max Drawdown (1Y) Largest decline over 1 year	-27.71%	-18.14%	-9.57%
Max Drawdown (5Y) Largest decline over 5 years	-48.98%	-34.05%	-14.93%
Max Drawdown (10Y) Largest decline over 10 years	-48.98%	-43.36%	-5.62%
Current Drawdown Current decline from peak	-44.38%	-8.59%	-35.79%
Average Drawdown Average peak-to-trough decline	-16.78%	-19.79%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.11%	5.13%	+5.98%

Volatility

TNC vs. CAT - Volatility Comparison

The current volatility for Tennant Company (TNC) is 8.26%, while Caterpillar Inc. (CAT) has a volatility of 12.02%. This indicates that TNC experiences smaller price fluctuations and is considered to be less risky than CAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNC	CAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.26%	12.02%	-3.76%
Volatility (6M) Calculated over the trailing 6-month period	32.14%	26.33%	+5.81%
Volatility (1Y) Calculated over the trailing 1-year period	36.60%	34.60%	+2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.19%	29.76%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.99%	30.52%	+1.47%

Financials

TNC vs. CAT - Profitability Comparison

The chart below illustrates the profitability comparison between Tennant Company and Caterpillar Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TNC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Tennant Company reported a gross profit of 100.80M and revenue of 291.60M. Therefore, the gross margin over that period was 34.6%.

CAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Caterpillar Inc. reported a gross profit of 5.48B and revenue of 19.13B. Therefore, the gross margin over that period was 28.6%.

TNC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Tennant Company reported an operating income of 400.00K and revenue of 291.60M, resulting in an operating margin of 0.1%.

CAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Caterpillar Inc. reported an operating income of 2.66B and revenue of 19.13B, resulting in an operating margin of 13.9%.

TNC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Tennant Company reported a net income of -4.40M and revenue of 291.60M, resulting in a net margin of -1.5%.

CAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Caterpillar Inc. reported a net income of 2.40B and revenue of 19.13B, resulting in a net margin of 12.6%.