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TSCOTractor Supply

Consumer discretionary · Home Improvement Retail · Nasdaq

Compare with peers → Embed

FY2025 at a glance

Sales up 4.3%, free cash flow up to $740.5M

XBRL, from each 10-K

RevenueStatements ↓

$15.5B

from $14.9B in FY2024

FY2016FY2025

Net incomeStatements ↓

$1.1B

from $1.1B in FY2024

FY2016FY2025

Free cash flowStatements ↓

$740.5M

from $636.8M in FY2024

FY2016FY2025

EPS (diluted)Statements ↓

$2.06

from $2.04 in FY2024

FY2016FY2025

Operating marginStatements ↓

9.5%

from 9.9% in FY2024

FY2016FY2025

Total debtStatements ↓

$150.0M

from $150.0M in FY2024

FY2016FY2025

Price and key numbers

The latest figures

All key numbers (39, from the latest 10-K and 10-Q) From EDGAR

EPS (ttm)	1.86	Sales (ttm)	15.9B	Net income (ttm)	977.3M	Sales growth	+4.3%	EPS growth	+1.0%	Sales Q/Q	+5.1%
Free cash flow	290.3M	Gross margin	36.2%	Oper. margin	8.2%	Net margin	6.1%	FCF margin	1.8%	ROE	36.7%
ROA	8.0%	R&D / sales	-	Dividend	0.92	Debt/Eq	0.84	Curr. ratio	1.38	Cash	198.9M
Op. cash flow (ttm)	1.2B	EBITDA	2.0B	EBITDA margin	12.6%	Net debt	2.0B	Quick ratio	0.37	Interest cover	21.22
ROIC	23.5%	Payout ratio	44.7%	Tax rate	21.6%	Stock pay / sales	0.4%	Shares out.	518.6M	Shares Y/Y	-1.4%
Book / share	5.13	Cash / share	0.38	Sales / share	30.74	Asset turnover	1.30	Inventory turns	3.20	Sales 3Y CAGR	+3.0%
Sales 5Y CAGR	+7.9%	EPS 3Y CAGR	+2.0%	EPS 5Y CAGR	+10.0%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

TSCO against Consumer discretionary peers

Ten years, side by side → · All 47 →

TSCOPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 47 companies, the better end on the right. Hover a dot for the company.

Sales growth

+4.3%28th of 47 · median +5.4%

Net margin

6.1%37th of 47 · median 10.8%

Return on equity

36.7%16th of 34 · median 32.5%

Free cash flow margin

1.8%43rd of 45 · median 9.4%

Debt / equity (less is better)

0.8415th of 28 · median 0.73

TSCO and the 5 peers closest in revenue
Company	Revenue (ttm)	Sales growth	Gross margin	Net margin	ROE	FCF margin	Debt / equity
TSCO Tractor Supply	$15.9B	+4.3%	36.2%	6.1%	36.7%	1.8%	0.84
MGM MGM Resorts	$17.7B	+1.7%	-	3.9%	27.7%	7.9%	2.26
DASH DoorDash	$17.1B	+27.9%	-	6.2%	9.9%	15.8%	-
EXPE Expedia Group	$16.2B	+7.6%	-	13.0%	127.5%	23.1%	3.31
PHM PulteGroup	$16.0B	-3.5%	-	11.2%	13.7%	8.1%	0.00
ABNB Airbnb	$13.9B	+10.3%	83.1%	23.0%	34.4%	-	0.25

Where each dollar goes

FY2021FY2022FY2023FY2024FY2025

From $12.7B of sales to $997.1M of profit

FY2021, from the 10-K income statement

Swipe sideways for the whole flow →

From $14.2B of sales to $1.1B of profit

FY2022, from the 10-K income statement

Swipe sideways for the whole flow →

From $14.6B of sales to $1.1B of profit

FY2023, from the 10-K income statement

Swipe sideways for the whole flow →

From $14.9B of sales to $1.1B of profit

FY2024, from the 10-K income statement

Swipe sideways for the whole flow →

From $15.5B of sales to $1.1B of profit

FY2025, from the 10-K income statement

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021

$65$25$8

FY2022

$65$25$8

FY2023

$64$26$8

FY2024

$64$26$7

FY2025

$64$27$7

Cost of revenue
Sales, admin & other
Tax & other
Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

3 of 4

!
Net margin below the peer median6.1% vs 10.8%
✓
Gross margin up over 5 years35.4% → 36.4%
✓
Return on equity above 15%36.7%
✓
A profit in every one of 9 years

Net margin, FY2017 to FY2025: 5.8% → 7.1%

Balance sheet

3 of 4

✓
Interest covered more than 5 timesOperating income is 21.2× interest expense
✓
Debt smaller than equityDebt / equity 0.84 on the latest balance sheet (peer median 0.73)
✓
Current assets cover current liabilitiesCurrent ratio 1.38
!
Net debt over 3 years of free cash flow$2.0B net debt, 7.0 years

Debt / equity at each year end, FY2017 to FY2025: 0.11 → 0.06

Cash and shareholders

4 of 4

✓
Free cash flow positive in every one of 9 years$740.5M last year
✓
Share count down over 5 years−9.4%
✓
Dividend per share up over 5 years$0.30 → $0.92
✓
Cash from operations above net income$1.6B vs $1.1B

Free cash flow, FY2017 to FY2025: 381.0M → 740.5M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Revenue and net income, FY2017 to FY2025

Revenue 15.5B Net income 1.1B

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

TSCO's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly

Revenue15.5B

Net income1.1B

Free cash flow740.5M

EPS (diluted)2.06

Dividend per share0.92

Diluted shares532.2M

Income statement

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	-	7.3B	7.9B	8.4B	10.6B	12.7B	14.2B	14.6B	14.9B	15.5B
Cost of revenue	4.5B	4.8B	5.2B	5.5B	6.9B	8.3B	9.2B	9.3B	9.5B	9.9B
Gross profit	2.3B	2.5B	2.7B	2.9B	3.8B	4.5B	5.0B	5.2B	5.4B	5.7B
SG&A	1.5B	1.6B	1.8B	1.9B	2.5B	2.9B	3.2B	3.4B	3.5B	3.7B
Operating income	694.1M	686.4M	701.7M	743.2M	996.9M	1.3B	1.4B	1.5B	1.5B	1.5B
Interest expense	5.8M	13.9M	18.4M	19.8M	28.8M	26.6M	30.6M	46.5M	54.6M	69.1M
Pretax income	688.3M	672.5M	683.4M	723.4M	968.1M	1.3B	1.4B	1.4B	1.4B	1.4B
Income tax	251.2M	249.9M	151.0M	161.0M	219.2M	283.0M	315.6M	325.2M	311.7M	302.2M
Net income	437.1M	422.6M	532.4M	562.4M	749.0M	997.1M	1.1B	1.1B	1.1B	1.1B
EPS (diluted)	0.65	0.66	0.86	0.93	1.28	1.72	1.94	2.02	2.04	2.06
Diluted shares	669.1M	641.0M	617.4M	603.7M	587.2M	579.1M	560.7M	548.7M	539.7M	532.2M
Depreciation & amortization	143.0M	165.8M	177.4M	196.0M	217.1M	270.2M	343.1M	393.0M	447.2M	494.0M
EBITDA	837.0M	852.2M	879.1M	939.2M	1.2B	1.6B	1.8B	1.9B	1.9B	2.0B
Gross margin	-	34.3%	34.2%	34.4%	35.4%	35.2%	35.0%	35.9%	36.3%	36.4%
Operating margin	-	9.5%	8.9%	8.9%	9.4%	10.3%	10.1%	10.2%	9.9%	9.5%
Net margin	-	5.8%	6.7%	6.7%	7.1%	7.8%	7.7%	7.6%	7.4%	7.1%
Revenue growth	-	-	+9.0%	+5.6%	+27.2%	+19.9%	+11.6%	+2.5%	+2.2%	+4.3%
EPS growth	-	+0.9%	+30.6%	+8.1%	+36.9%	+35.0%	+12.7%	+4.1%	+1.0%	+1.0%

Balance sheet

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash	53.9M	109.1M	86.3M	84.2M	1.3B	878.0M	202.5M	397.1M	251.5M	194.1M
Inventory	1.4B	1.5B	1.6B	1.6B	1.8B	2.2B	2.7B	2.6B	2.8B	3.1B
Current assets	1.5B	1.7B	1.8B	1.8B	3.3B	3.3B	3.2B	3.3B	3.3B	3.5B
Property & equipment	962.3M	1.0B	1.1B	1.2B	1.2B	1.6B	2.1B	2.4B	2.7B	3.0B
Goodwill	94.4M	93.2M	10.3M	10.3M	10.3M	32.4M	230.2M	246.4M	246.4M	346.7M
Total assets	2.7B	2.9B	3.1B	5.3B	7.0B	7.8B	8.5B	9.2B	9.8B	10.9B
Accounts payable	519.5M	576.6M	620.0M	643.0M	976.1M	1.2B	1.4B	1.2B	1.2B	1.4B
Current liabilities	777.2M	849.2M	938.1M	1.2B	1.7B	2.1B	2.4B	2.2B	2.3B	2.6B
Total debt	0	150.0M	150.0M	150.0M	150.0M	150.0M	150.0M	150.0M	150.0M	150.0M
Total liabilities	1.2B	1.5B	1.5B	3.7B	5.1B	5.8B	6.4B	7.0B	7.5B	8.4B
Shareholders' equity	1.5B	1.4B	1.6B	1.6B	1.9B	2.0B	2.0B	2.1B	2.3B	2.6B
Retained earnings	2.5B	2.8B	3.2B	3.6B	4.2B	4.9B	5.6B	6.3B	6.9B	7.5B

Cash flow

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	650.7M	631.5M	694.4M	811.7M	1.4B	1.1B	1.4B	1.3B	1.4B	1.6B
Capital spending	226.0M	250.4M	278.5M	217.4M	294.0M	628.4M	773.4M	753.9M	784.0M	894.8M
Free cash flow	424.7M	381.0M	415.9M	594.3M	1.1B	510.3M	583.6M	580.1M	636.8M	740.5M
Stock-based pay (added back)	23.6M	29.2M	28.9M	31.1M	37.3M	47.6M	53.8M	57.0M	48.4M	57.1M
Dividends paid	122.3M	133.8M	147.1M	162.7M	174.7M	239.0M	409.6M	449.6M	472.5M	487.7M
Buybacks	331.7M	369.4M	349.8M	533.3M	343.0M	798.9M	700.1M	594.4M	560.6M	361.3M
Acquisitions	143.6M	-1.2M	0	0	0	0	390.8M	0	0	139.9M
Investing cash flow	-369.3M	-238.0M	-276.3M	-215.0M	-292.2M	-627.3M	-1.1B	-653.1M	-643.9M	-778.6M
Financing cash flow	-291.3M	-338.3M	-440.9M	-598.8M	155.2M	-975.1M	-938.8M	-486.4M	-922.5M	-914.1M
Dividend per share	0.18	0.21	0.24	0.27	0.30	0.42	0.74	0.82	0.88	0.92

Stock-based pay and leases

From EDGAR

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Stock-based pay (expense)	23.6M	29.2M	28.9M	31.1M	37.3M	47.6M	53.8M	57.0M	48.4M	57.1M
Stock-based pay / revenue	-	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.4%	0.3%	0.4%
Operating lease cost	-	-	-	354.0M	379.3M	400.9M	434.3M	465.9M	505.9M	559.1M
Operating lease cash paid	-	-	-	360.6M	-	-	-	-	-	-
Finance lease principal paid	-	-	-	3.7M	4.2M	4.6M	4.1M	4.8M	4.8M	2.8M
Right-of-use assets	-	-	0	2.2B	2.4B	2.8B	3.0B	3.1B	3.4B	3.9B
Operating lease liabilities	-	-	0	2.3B	2.5B	2.9B	3.1B	3.3B	3.6B	4.1B
Finance lease liabilities	-	-	-	34.4M	-	-	-	-	-	36.1M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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