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.
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Tractor Supply Company (TSCO) Altman Z-score
Tractor Supply Company's Altman Z-score for fiscal 2025 is 4.83, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 4.83 | (0.56) |
| FY2024 | 5.39 | 0.17 |
| FY2023 | 5.21 | (0.39) |
| FY2022 | 5.60 | (0.52) |
| FY2021 | 6.12 | 1.14 |
| FY2020 | 4.98 | 0.05 |
| FY2019 | 4.92 | (4.21) |
| FY2018 | 9.14 | 0.15 |
| FY2017 | 8.98 | (1.02) |
| FY2016 | 10.00 | (2.35) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.08 | — | 0.10 | |
| Retained earnings / total assets | 0.69 | — | 0.96 | |
| EBIT / total assets | 0.13 | — | 0.44 | |
| Market value of equity / total liabilities | 3.17 | — | 1.90 | |
| Sales / total assets | 1.42 | — | 1.42 | |
| Altman Z-score | Safe zone | 4.83 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.00 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| WSM Williams-Sonoma, Inc. compare | 7.3× |
| ULTA Ulta Beauty Inc. compare | 7.1× |
| MUSA Murphy USA Inc. compare | 6.9× |
| CASY Casey's General Stores, Inc. compare | 6.6× |
| TSCO Tractor Supply Company | 4.8× |
| FIVE Five Below, Inc. compare | 4.4× |
| BBY Best Buy Co., Inc. compare | 4.2× |
| GME GameStop Corp. compare | 2.8× |
| DKS DICK'S Sporting Goods, Inc. compare | 2.8× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on TSCO
- 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
- Beneish M-score
- The full statement