Saturday 10 October 2026
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Tractor Supply Company
TSCO Consumer Cyclical Specialty Retail
Tractor Supply Company’s revenue for fiscal 2025 (year ended December 2025) was $15.5 billion, up 4.31% from fiscal 2024. In the quarter to June 2026, revenue grew 2.29%, EPS fell 14.8%, free cash flow fell 38.5% and total debt rose 29.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten; insiders bought in the last twelve months.
33.70
0.22
+0.66%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 12.30 | 9.97 | 11.65 | 16.06 | 12.78 | 27.63 | 33.30 | 37.00 | 42.35 | 46.85 |
Analyst estimates 2026–2028 Powerpack |
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| High | 19.45 | 15.65 | 19.53 | 22.85 | 31.41 | 47.91 | 48.31 | 50.23 | 61.53 | 63.99 | |||||
| People | |||||||||||||||
| People | Employees | 26,000 | 28,000 | 29,000 | 32,000 | 41,000 | 46,000 | 49,000 | 50,000 | 52,000 | 52,000 | ||||
| Revenue/emp, $m | 0.26 | 0.26 | 0.27 | 0.26 | 0.26 | 0.28 | 0.29 | 0.29 | 0.29 | 0.30 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 6,780 | 7,256 | 7,911 | 8,352 | 10,620 | 12,731 | 14,205 | 14,556 | 14,883 | 15,524 | ||||
| Gross margin, % | 34.30 | 34.34 | 34.16 | 34.38 | 35.42 | 35.17 | 35.00 | 35.92 | 36.26 | 36.42 | |||||
| EBT | 688 | 673 | 683 | 723 | 968 | 1,280 | 1,404 | 1,432 | 1,413 | 1,398 | |||||
| EBT margin, % | 10.15 | 9.27 | 8.64 | 8.66 | 9.12 | 10.05 | 9.89 | 9.84 | 9.49 | 9.01 | |||||
| Net income | 437 | 423 | 532 | 562 | 749 | 997 | 1,089 | 1,107 | 1,101 | 1,096 | |||||
| Depreciation | 143 | 166 | 177 | 196 | 217 | 270 | 343 | 393 | 447 | 494 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 10.20 | 11.37 | 12.90 | 13.95 | 18.25 | 22.18 | 25.52 | 26.68 | 27.72 | 29.29 | ||||
| Earnings | 0.66 | 0.66 | 0.87 | 0.94 | 1.29 | 1.74 | 1.96 | 2.03 | 2.05 | 2.07 | |||||
| Cash flow | 0.98 | 0.99 | 1.13 | 1.36 | 2.40 | 1.98 | 2.44 | 2.45 | 2.65 | 3.09 | |||||
| Capex | (0.34) | (0.37) | (0.45) | (0.36) | (0.50) | (1.09) | (1.39) | (1.22) | (1.20) | (1.21) | |||||
| Free cash flow | 0.64 | 0.61 | 0.68 | 1.00 | 1.89 | 0.89 | 1.05 | 1.22 | 1.45 | 1.88 | |||||
| Book value | 2.19 | 2.22 | 2.55 | 2.62 | 3.31 | 3.49 | 3.67 | 3.94 | 4.23 | 4.87 | |||||
| Shares, m | 665 | 638 | 613 | 599 | 582 | 574 | 557 | 545 | 537 | 530 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 23.07 | 22.87 | 19.18 | 19.88 | 21.80 | 27.49 | 22.85 | 21.36 | 25.91 | 24.16 | ||||
| P/S | 1.49 | 1.33 | 1.29 | 1.34 | 1.54 | 2.15 | 1.75 | 1.62 | 1.91 | 1.71 | |||||
| P/B | 6.94 | 6.81 | 6.55 | 7.14 | 8.50 | 13.68 | 12.17 | 10.99 | 12.55 | 10.27 | |||||
| EV/Sales | 1.52 | 1.38 | 1.34 | 1.38 | 1.55 | 2.19 | 1.85 | 1.74 | 2.05 | 1.83 | |||||
| EV/FCF | 24.31 | 25.51 | 25.32 | 19.32 | 14.89 | 54.58 | 44.86 | 38.05 | 39.23 | 28.58 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 651 | 631 | 694 | 812 | 1,395 | 1,139 | 1,357 | 1,334 | 1,421 | 1,635 | ||||
| Capex | (226) | (239) | (276) | (215) | (292) | (627) | (772) | (667) | (644) | (639) | |||||
| Free cash flow | 425 | 392 | 418 | 597 | 1,102 | 511 | 585 | 667 | 777 | 997 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 741 | 806 | 856 | 540 | 1,515 | 1,186 | 782 | 1,087 | 991 | 893 | ||||
| Total debt | 300 | 459 | 437 | 427 | 1,017 | 1,019 | 1,199 | 1,760 | 1,860 | 1,796 | |||||
| Net debt | 246 | 350 | 350 | 343 | (324) | 141 | 996 | 1,363 | 1,608 | 1,602 | |||||
| Shareholders’ equity | 1,453 | 1,419 | 1,562 | 1,567 | 1,924 | 2,003 | 2,042 | 2,150 | 2,270 | 2,581 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 17.33 | 15.25 | 17.88 | 13.43 | 12.14 | 13.46 | 13.39 | 12.53 | 11.60 | 10.57 | ||||
| ROIC | 25.53 | 24.26 | 22.94 | 24.32 | 38.95 | 38.09 | 29.51 | 26.31 | 23.65 | 21.93 | |||||
| ROE | 30.71 | 29.43 | 35.72 | 35.95 | 42.91 | 50.79 | 53.83 | 52.82 | 49.83 | 45.18 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Tractor Supply Company vs peers in Specialty Retail (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| WSM Williams-Sonoma, Inc. | $28.2B | 24.4× | 21.9× | +6.70% (above 0%: growing) | +41.38% (above 0%: growing) | +108.42% (above 0%: growing) | 51.64% | 22.90% | Compare |
| ULTA Ulta Beauty Inc. | $24.1B | 20.7× | 16.2× | +8.87% (above 0%: growing) | +13.28% (above 0%: growing) | +96.46% (above 0%: growing) | 39.10% | 12.51% | Compare |
| CASY Casey's General Stores, Inc. | $23.7B | 31.0× | 37.3× | +24.33% (above 0%: growing) | +27.59% (above 0%: growing) | −30.95% (below 0%: shrinking) | 21.82% | 6.50% | Compare |
| BBY Best Buy Co., Inc. | $18.5B | 14.4× | 11.4× | +3.61% (above 0%: growing) | +69.32% (above 0%: growing) | +28.40% (above 0%: growing) | 23.91% | 4.31% | Compare |
| TSCO Tractor Supply Company | $17.4B | 17.6× | 14.0× | +2.29% (above 0%: growing) | −14.81% (below 0%: shrinking) | −38.48% (below 0%: shrinking) | 37.05% | 10.29% | |
| GME GameStop Corp. | $12.8B | 13.3× | 70.5× | −18.72% (below 0%: shrinking) | +76.32% (above 0%: growing) | +115.70% (above 0%: growing) | 43.66% | 20.27% | Compare |
| DKS DICK'S Sporting Goods, Inc. | $12.0B | 14.4× | 15.3× | +53.21% (above 0%: growing) | −26.35% (below 0%: shrinking) | −55.09% (below 0%: shrinking) | 34.78% | 7.89% | Compare |
| FIVE Five Below, Inc. | $11.6B | 19.1× | 21.2× | +22.85% (above 0%: growing) | +415.38% (above 0%: growing) | +194.67% (above 0%: growing) | 48.55% | 21.83% | Compare |
| MUSA Murphy USA Inc. | $9.5B | 16.0× | 17.2× | +35.99% (above 0%: growing) | +52.42% (above 0%: growing) | −10.68% (below 0%: shrinking) | 10.97% | 4.48% | Compare |
| Median of peers | $15.6B | 17.5× | 19.2× | +15.86% | +46.90% | +62.43% | 36.94% | 10.20% |
TSCO metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Tractor Supply Company (TSCO) key facts
- Strength: Tractor Supply Company’s revenue for fiscal 2025 (year ended December 2025) was $15.5 billion, up 4.31% from fiscal 2024.
- Tractor Supply Company (TSCO) is a Specialty Retail company in the Consumer Cyclical sector, listed on Nasdaq.
- As of October 9, 2026, TSCO traded at $33.70, a market capitalization of $17.4 billion.
- Tractor Supply Company pays an annual dividend of $0.95 per share, a yield of 2.82%, with a payout ratio of 49.5%.
- Return on equity was 45.2% and debt-to-equity 0.83.
- Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 4.83 (safe zone) for fiscal 2025.