FirmAtlas
Company handbook · TSCO · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
TSCO · CIK 916365 · LATEST FILING: 10-Q JUN '26 · FILED AUG 6, 2026
TRACTOR SUPPLY CO /DE/
$33.16
−0.21 (−0.63%)
Close, Oct 16, 2026 · 52-week $28–58
Last fiscal year
TRACTOR SUPPLY CO /DE/ reported revenue of $15.5B for the year ended Dec 27, 2025 (FY25), up 4.3% from FY24. Net income was $1.1B, operating cash flow $1.6B and free cash flow $740M. Source: 10-K filed Feb 19, 2026.
Market cap
$17.5B
P/E
17.3
EV/EBITDA
8.9x
P/B
6.6
Div yield
2.86%
ROIC
48.8%
Revenue 1Y
4.3%/yr
EPS 1Y
1.0%/yr
Shares 1Y
−1.0%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOHarry A. Lawton III
HQBrentwood, TN
AuditorErnst & Young LLP
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
9.4%
−3.4%
−6.9%
−39.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$3.7B deployed
Capex
$1.7B
45.4%
Acquisitions
$140M
3.8%
Dividends
$960M
25.9%
Buybacks
$922M
24.9%
Operating cash flow over the period: $3.1B. Total debt changed by +$2M.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Dec 27, 2025 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (5-for-1 split after FY22).
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
14,883
15,524+4.3%
15,751
YoY
+4.3%
Gross profit
5,397
5,655+4.8%
5,743
Gross margin
36.3%
36.4%+0.2 pp
—
Operating income
1,468
1,467−0.0%
1,341
Operating margin
9.9%
9.5%−0.4 pp
—
EBITDA
1,915
1,961+2.4%
—
EBITDA margin
12.9%
12.6%−0.2 pp
—
Interest expense
55
69+26.7%
—
Interest coverage
35.07x
28.37x−6.71x
—
Net income
1,101
1,096−0.5%
1,012
YoY
−0.5%
Net margin
7.4%
7.1%−0.3 pp
—
EPS (diluted, $)
2.04
2.06+1.0%
1.92
YoY
+1.0%
Balance sheet
Total assets
9,805
10,934+11.5%
12,162
Cash & short-term investments
251
194−22.8%
—
Inventory
2,840
3,084+8.6%
—
Net PP&E
2,727
3,027+11.0%
—
Other assets
3,986
4,629+16.1%
—
Total liabilities
7,535
8,352+10.8%
9,530
Accounts payable
1,236
1,391+12.5%
—
Total debt
153
155+1.4%
2,164
Other liabilities
6,146
6,806+10.7%
—
Shareholders’ equity
2,270
2,581+13.7%
2,632
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,421
1,635+15.1%
1,286
Net income
1,101
1,096−0.5%
—
Depreciation & amortization
447
494+10.5%
—
Stock-based compensation
48
57+18.0%
—
Working capital & other
(176)
(12)n/m
—
Cash from investing
(644)
(779)n/m
—
Capex
(784)
(895)n/m
—
PP&E sold
140
256+82.8%
—
Acquisitions
0
(140)n/m
—
Other investing
0
0n/m
—
Cash from financing
(922)
(914)n/m
—
Debt raised
785
3,125+298.1%
—
Debt repaid
(685)
(3,195)n/m
—
Dividends
(472)
(488)n/m
—
Buybacks
(561)
(361)n/m
—
Other financing
11
5−54.2%
—
Net change in cash
(146)
(57)n/m
—
Free cash flow (OCF − capex)
637
740+16.3%
307
Where the cash went
Operating cash flow
1,421
1,635+15.1%
1,286
Reinvested in the business
784
1,035+32.0%
—
% of operating cash flow
55.2%
63.3%
Capex
784
895+14.1%
979
Acquisitions
0
140n/m
—
Free cash flow
637
740+16.3%
307
YoY
+16.3%
Returned to shareholders
1,033
849−17.8%
—
% of free cash flow
162.2%
114.6%
Dividends
472
488+3.2%
—
Buybacks
561
361−35.6%
—
Change in total debt
—
2
—
Cash left over
—
(246)
—
FCF conversion (FCF ÷ net income)
57.8%
67.6%+9.7 pp
—
Owner earnings
—
606
—
Owner earnings margin
—
3.9%
—
Buyback yield
1.9%
1.3%−0.6 pp
—
Returns & ratios
ROIC (all capital)
52.7%
48.8%−3.9 pp
—
ROIC (operating)
26.4%
25.4%−1.0 pp
—
Net debt / EBITDA
−0.05x
−0.02x+0.03x
—
Debt / equity
0.07x
0.06x−0.01x
—
ROE
48.5%
42.5%−6.0 pp
—
ROA
11.2%
10.0%−1.2 pp
—
ROCE
19.6%
17.6%−2.0 pp
—
NOPAT
1,144
1,150+0.6%
—
Invested capital (operating)
4,331
4,720+9.0%
—
Invested capital (all)
2,172
2,543+17.1%
—
Reinvestment rate
—
33.8%
—
Inventory days
109
114+5 d
—
Days payable
48
51+4 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
3,719
3,898
3,592
4,541
vs year-ago quarter
Gross profit
1,389
1,370
1,301
1,683
Gross margin
37.4%
35.1%
36.2%
37.1%
Operating income
343
298
233
467
Net income
259
227
165
361
vs year-ago quarter
Net margin
7.0%
5.8%
4.6%
7.9%
EPS (diluted, $)
0.49
0.43
0.31
0.69
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
10,877
10,934
11,662
12,162
Cash & equivalents
185
194
224
232
Total debt
1,749
155
2,133
2,164
Shareholders’ equity
2,573
2,581
2,514
2,632
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
308
325
91
562
Capex
278
266
203
233
Free cash flow
30
59
(111)
329
vs year-ago quarter