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Side-by-side financial comparison of H2O AMERICA (HTO) and TENNANT CO (TNC). Click either name above to swap in a different company.
TENNANT CO is the larger business by last-quarter revenue ($291.6M vs $199.4M, roughly 1.5× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs -1.5%, a 9.6% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -11.3%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -3.2%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
The Tennant Company (TNC:NYQ) is a company with about 4000 employees that provides cleaning products. It is a company that is listed in the New York Stock Exchange.
HTO vs TNC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $291.6M |
| Net Profit | $16.2M | $-4.4M |
| Gross Margin | — | 34.6% |
| Operating Margin | 16.6% | -1.4% |
| Net Margin | 8.1% | -1.5% |
| Revenue YoY | 1.5% | -11.3% |
| Net Profit YoY | -29.2% | -166.7% |
| EPS (diluted) | $0.45 | $-0.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $199.4M | $291.6M | ||
| Q3 25 | $243.5M | $303.3M | ||
| Q2 25 | $197.8M | $318.6M | ||
| Q1 25 | $164.9M | $290.0M | ||
| Q4 24 | $196.5M | $328.9M | ||
| Q3 24 | $216.7M | $315.8M | ||
| Q2 24 | $173.1M | $331.0M | ||
| Q1 24 | $150.0M | $311.0M |
| Q4 25 | $16.2M | $-4.4M | ||
| Q3 25 | $45.1M | $14.9M | ||
| Q2 25 | $24.7M | $20.2M | ||
| Q1 25 | $16.6M | $13.1M | ||
| Q4 24 | $22.9M | $6.6M | ||
| Q3 24 | $38.7M | $20.8M | ||
| Q2 24 | $20.7M | $27.9M | ||
| Q1 24 | $11.7M | $28.4M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 42.1% | ||
| Q1 25 | — | 41.4% | ||
| Q4 24 | — | 41.3% | ||
| Q3 24 | — | 42.4% | ||
| Q2 24 | — | 43.1% | ||
| Q1 24 | — | 44.2% |
| Q4 25 | 16.6% | -1.4% | ||
| Q3 25 | 26.5% | 7.4% | ||
| Q2 25 | 22.2% | 9.6% | ||
| Q1 25 | 21.8% | 6.8% | ||
| Q4 24 | 22.2% | 2.3% | ||
| Q3 24 | 26.9% | 9.7% | ||
| Q2 24 | 23.4% | 11.7% | ||
| Q1 24 | 18.6% | 12.1% |
| Q4 25 | 8.1% | -1.5% | ||
| Q3 25 | 18.5% | 4.9% | ||
| Q2 25 | 12.5% | 6.3% | ||
| Q1 25 | 10.0% | 4.5% | ||
| Q4 24 | 11.7% | 2.0% | ||
| Q3 24 | 17.8% | 6.6% | ||
| Q2 24 | 12.0% | 8.4% | ||
| Q1 24 | 7.8% | 9.1% |
| Q4 25 | $0.45 | $-0.21 | ||
| Q3 25 | $1.27 | $0.80 | ||
| Q2 25 | $0.71 | $1.08 | ||
| Q1 25 | $0.49 | $0.69 | ||
| Q4 24 | $0.70 | $0.35 | ||
| Q3 24 | $1.17 | $1.09 | ||
| Q2 24 | $0.64 | $1.45 | ||
| Q1 24 | $0.36 | $1.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | — |
| Total DebtLower is stronger | $1.9B | $273.2M |
| Stockholders' EquityBook value | $1.5B | $601.6M |
| Total Assets | $5.1B | $1.3B |
| Debt / EquityLower = less leverage | 1.23× | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | — | ||
| Q3 25 | $11.3M | — | ||
| Q2 25 | $19.8M | — | ||
| Q1 25 | $23.7M | — | ||
| Q4 24 | $11.1M | — | ||
| Q3 24 | $4.0M | — | ||
| Q2 24 | $22.8M | — | ||
| Q1 24 | $4.5M | — |
| Q4 25 | $1.9B | $273.2M | ||
| Q3 25 | — | $238.3M | ||
| Q2 25 | — | $213.4M | ||
| Q1 25 | — | $213.3M | ||
| Q4 24 | $1.7B | $198.2M | ||
| Q3 24 | — | $208.6M | ||
| Q2 24 | — | $205.6M | ||
| Q1 24 | — | $207.4M |
| Q4 25 | $1.5B | $601.6M | ||
| Q3 25 | $1.5B | $640.9M | ||
| Q2 25 | $1.5B | $651.9M | ||
| Q1 25 | $1.4B | $624.4M | ||
| Q4 24 | $1.4B | $620.8M | ||
| Q3 24 | $1.3B | $647.2M | ||
| Q2 24 | $1.3B | $624.6M | ||
| Q1 24 | $1.2B | $614.6M |
| Q4 25 | $5.1B | $1.3B | ||
| Q3 25 | $5.0B | $1.3B | ||
| Q2 25 | $4.8B | $1.2B | ||
| Q1 25 | $4.7B | $1.2B | ||
| Q4 24 | $4.7B | $1.2B | ||
| Q3 24 | $4.6B | $1.2B | ||
| Q2 24 | $4.4B | $1.2B | ||
| Q1 24 | $4.4B | $1.2B |
| Q4 25 | 1.23× | 0.45× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | 1.26× | 0.32× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | — | 0.34× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $63.5M | $14.2M |
| Free Cash FlowOCF − Capex | — | $9.7M |
| FCF MarginFCF / Revenue | — | 3.3% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $14.2M | ||
| Q3 25 | $77.3M | $28.7M | ||
| Q2 25 | $60.8M | $22.5M | ||
| Q1 25 | $43.2M | $-400.0K | ||
| Q4 24 | $41.5M | $37.5M | ||
| Q3 24 | $53.5M | $30.7M | ||
| Q2 24 | $49.3M | $18.6M | ||
| Q1 24 | $51.2M | $2.9M |
| Q4 25 | — | $9.7M | ||
| Q3 25 | — | $22.3M | ||
| Q2 25 | — | $18.7M | ||
| Q1 25 | — | $-7.4M | ||
| Q4 24 | — | $28.1M | ||
| Q3 24 | — | $26.4M | ||
| Q2 24 | — | $14.4M | ||
| Q1 24 | — | $-100.0K |
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 7.4% | ||
| Q2 25 | — | 5.9% | ||
| Q1 25 | — | -2.6% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | — | 8.4% | ||
| Q2 24 | — | 4.4% | ||
| Q1 24 | — | -0.0% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.2% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | 3.92× | — | ||
| Q3 25 | 1.71× | 1.93× | ||
| Q2 25 | 2.47× | 1.11× | ||
| Q1 25 | 2.61× | -0.03× | ||
| Q4 24 | 1.81× | 5.68× | ||
| Q3 24 | 1.39× | 1.48× | ||
| Q2 24 | 2.38× | 0.67× | ||
| Q1 24 | 4.38× | 0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
TNC
| Equipment Sales | $165.5M | 57% |
| Parts And Consumables | $69.1M | 24% |
| Service And Other | $57.0M | 20% |
