Tractor Supply (TSCO)
Consumer Discretionary · $17.1B market cap · SEC CIK 0000916365
fundamentals score out of 100
Next reports on Oct 21, 2026, with analysts expecting $0.41 in earnings per share.
The case for TSCO
- Earns 39% back on shareholder equity.
- Reasonably priced at 16.9× earnings.
- Moves less than the market (beta 0.48).
- Pays a modest 2.1% dividend.
The case against
- Down 45.8% over the past year.
- Earnings per share fell 5.8%.
- Near the bottom of its 52-week range, 45% below the high. Falling prices usually have a reason; find it first.
- Long-term debt of $1.8B against $194M of cash.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Discretionary companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 62 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 42 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 46 |
| Momentumhow the price has behaved lately | 28 |
| Stabilityhow violently it moves, what it owes and what it pays you | 76 |
- Each factor except momentum is half fixed thresholds, half rank among the 48 Consumer Discretionary companies.
Key numbers
| Price / earnings | 16.9× |
|---|---|
| Price / book | 6.22× |
| Price / sales | 1.1× |
| Revenue growth (YoY) | +4.0% |
| EPS growth (YoY) | -5.8% |
| Gross margin | 37% |
| Operating margin | 9% |
| Net margin | 6% |
| Return on equity | 39% |
| Debt / equity | 0.84× |
| Current ratio | 1.33 |
| Dividend yield | 2.08% |
| Beta | 0.48 |
| 52-week range | $28.36 – $60.15 |
| Position in that range | 14% of the way up |
| 3-month return | +6.9% |
| 1-year return | -45.8% |
Five years of financials, as filed
Pulled from Tractor Supply's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $15.5B | $14.9B | $14.6B | $14.2B | $12.7B |
| Gross profit | $5.7B | $5.4B | $5.2B | $5.0B | $4.5B |
| Operating income | $1.5B | $1.5B | $1.5B | $1.4B | $1.3B |
| Net income | $1.1B | $1.1B | $1.1B | $1.1B | $997M |
| Operating cash flow | $1.6B | $1.4B | $1.3B | $1.4B | $1.1B |
| Capital expenditure | $895M | $784M | $754M | $773M | $628M |
| Total assets | $10.9B | $9.8B | $9.2B | $8.5B | $7.8B |
| Total liabilities | $8.4B | $7.5B | $7.0B | $6.4B | $5.8B |
| Shareholder equity | $2.6B | $2.3B | $2.1B | $2.0B | $2.0B |
| Cash | $194M | $251M | $397M | $203M | $878M |
| Long-term debt | $1.8B | $1.8B | $1.7B | $1.2B | $986M |
| Free cash flow | $740M | $637M | $580M | $584M | $510M |
| Gross margin | 36.4% | 36.3% | 35.9% | 35.0% | 35.2% |
| Operating margin | 9.5% | 9.9% | 10.2% | 10.1% | 10.3% |
| Net margin | 7.1% | 7.4% | 7.6% | 7.7% | 7.8% |
| Diluted shares | 532M | 540M | 549M | 561M | 116M |
What Tractor Supply says it does
Overview Tractor Supply Company (the "Company" or "Tractor Supply" or "we" or "our" or "us") is the largest rural lifestyle retailer in the United States ("U.S."). The Company is focused on supplying the needs of recreational farmers, ranchers, and all those who enjoy living the rural lifestyle (which we refer to as the " Out Here " lifestyle). We operate retail stores under the names Tractor Supply Company and Petsense by Tractor Supply. Our stores are located primarily in towns outlying major metropolitan markets and in rural communities. We also offer an expanded assortment of products through the Tractor Supply mobile application and online at TractorSupply.com, Petsense.com, and Allivet.com. On December 30, 2024, the Company completed its acquisition of Allivet, an online pet pharmacy. Pursuant to the agreement governing the transaction, the Company acquired 100% of the equity interest in Allivet for a purchase price of $135.0…
Risk factors TSCO lists in its 10-K
- We may be unable to increase sales at our existing stores
- Our merchandising and marketing initiatives may not provide expected results
- We may not timely identify or effectively respond to consumer needs, expectations, or trends, which could adversely affect our relationship with customers, the demand for our products and services, and our market share
- Failure to open and manage new stores in the number and manner currently contemplated could adversely affect our financial performance
- Competition may hinder our ability to execute our business strategy and adversely affect our operations
- We may pursue strategic acquisitions and the failure of an acquisition to produce the anticipated results or the inability to fully integrate the acquired companies could have an adverse impact on our business
- Failure to protect our reputation could have a material adverse effect on our brand name or any of our Owned Brands
- Unseasonal and extreme weather conditions, natural disasters, and climate change may have a significant impact on our financial condition and results of operations
- Weather conditions may cause a disruption in our distribution and transportation network that would adversely affect our ability to conduct our operations
- We may be adversely affected by legal, regulatory, or market responses to global climate change
- Our investors, other stakeholders, and regulators may not be satisfied with our ESG efforts including DE&I
- General economic and geopolitical conditions may adversely affect our financial performance
- Purchase price volatility, including inflationary and deflationary pressures, may adversely affect our financial performance
- Our failure to attract and retain qualified team members, increases in wage and labor costs, and changes in laws and other labor issues could adversely affect our financial performance