Is Tennant Co. overvalued or undervalued?

As of 7 November 2025, the valuation grade for Tennant Co. has moved from expensive to fair, indicating a more favorable assessment of its market position. The company appears to be fairly valued at this time. Key valuation ratios include a P/E ratio of 16, an EV to EBITDA of 8.68, and a Price to Book Value of 2.23. In comparison, Modine Manufacturing Co. has a P/E of 36.40, while Mueller Water Products, Inc. has a P/E of 26.00, highlighting that Tennant Co. is more attractively priced relative to its peers.
Despite its fair valuation, Tennant Co. has underperformed against the S&P 500, with a year-to-date return of -8.52% compared to the S&P 500's 14.40%. This trend is also evident over the past year, where the company saw a return of -18.82% against the S&P 500's 12.65%.