Tractor Supply is the largest operator of retail farm and ranch stores in the United States. The company targets recreational farmers and ranchers and has little exposure to commercial and industrial farm operations.
It is a $17.6B consumer company. Revenue grew 4.0% over the last year, it keeps 6¢ of every dollar of sales as profit, and its net debt equals ~5.1 years of free cash flow. It trades at 17.4× earnings — near the lowest of its own history.
- Website
- tractorsupply.com
- Location
- Brentwood, TN
- Employees
- 52 000
- Sector
- Consumer Cyclical
- Founded
- 1939
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, profitability and moat.
Valuation75
- P/E vs own history7th pct · 25/25
- FCF yield1.7% · 5/25
- P/S1.1x · 25/25
- EV/EBITDA10.6x · 20/25
Growth50
- Revenue CAGR5.1% · 12/25
- Net income CAGR2.4% · 6/25
- EPS CAGR ~5Y10.1% · 20/25
- Fwd implied growth6.7% · 12/25
Profitability75
- ROIC27.7% · 25/25
- ROE39.3% · 25/25
- Net margin6.4% · 13/25
- Operating margin8.5% · 12/25
Health67
- Altman Z2.98 · 18/25
- Current ratio1.33 · 12/25
- Interest coverage21.2x · 25/25
- Net cash / debtD/A 14% · 12/25
Quality73
- Piotroski F6/9 · 15/25
- Beneish M-2.60 · 25/25
- FCF conversion30% · 8/25
- Margin stabilityσ 1.9% · 25/25
Moat81
- ROIC >12% years10/10 yrs · 25/25
- Median gross margin35.3% · 13/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 6.7% · 18/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- Q3 2026Insiders4 open-market insider purchases~20K shares bought by insiders
- 2024MilestoneTractor Supply supports service members, veterans
- FY2023FinancialBest year on record$1.11B net income
- 2022AcquisitionTractor Supply received clearance from the FTC to close on its acquisition of Orscheln Farm & Home
- 2021MilestoneThe company became a corporate sponsor of PBR
- FY2020FinancialRevenue crossed $10B$10.6B for the year
- FY2020FinancialBecame debt-freecash now exceeds total debt
- FY2018FinancialRevenue crossed $1B$7.91B for the year
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2016AcquisitionTractor Supply acquired Petsense, a small-box specialty retailer of pet supplies primarily…
- 2002AcquisitionTractor Supply was part of a group (also including four liquidation firms) that purchased some of the…
- Feb 17, 1994IPOThe company's stock was listed on the Nasdaq under the symbol TSCO
- Jan 14, 1959MilestoneTractor Supply became publicly traded on the over-the-counter market and reached $10 million in…
- 1939FoundedThe first retail store was founded in 1939 in Minot, North Dakota
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Interest covered 21.2× by operating earnings
- High returns on invested capital (ROIC 27.7%)
Watch-outs
- Net debt would take ~20.6 years of free cash flow to repay
- Net debt equals ~5.1 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+4.0% YoY
- Profitable — makes more than it spends$1.01B TTM
- Profit growing — earnings are higher than last year+2.0% YoY
- Generates cash — cash left after running and investing$307M TTM
- Debt under control — could handle its obligations~5.1y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$17.6B market cap
- Not printing shares — share count not ballooning — you keep your slice-9.4% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 3.0 — grey
- Pays a dividend — returns cash to shareholdersyield 2.82%
- Valuation not extreme — price not wildly above earningsP/E 17.4
Peer comparisonTractor Supply Co vs 6 largest consumer cyclical peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| TSCO this company | $17.6B | 17.4 | +4.0% | 6.4% | Solid |
| AMZN Amazon.Com Inc | $2.8T | 20.9 | +15.8% | 17.4% | Mixed |
| TSLA Tesla, Inc. | $1.5T | 397.1 | +11.8% | 3.7% | Strong |
| NFLX NetFlix Inc | $292.8B | 21.4 | +16.0% | 28.2% | Solid |
| HD Home Depot, Inc. | $290.4B | 20.4 | -16.0% | 8.7% | Solid |
| DIS The Walt Disney Company | $186.5B | 21.7 | +4.6% | 8.7% | Solid |
| MCD McDonald's Corporation | $166.9B | 18.9 | +6.3% | 31.7% | Strained |
Head-to-head: TSCO vs AMZN · TSCO vs TSLA · TSCO vs NFLX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/TSCO
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of TSCO on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $33.70 · market cap $17.6B.