NASDAQ: TSCO
Tractor Supply
Consumer Discretionary · Retail-Building Materials, Hardware, Garden Supply
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$16.3B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $9.91B |
| FY2017, ended Dec 30, 2017 | $9.35B |
| FY2018, ended Dec 29, 2018 | $10.1B |
| FY2019, ended Dec 28, 2019 | $10.8B |
| FY2020, ended Dec 26, 2020 | $17.1B |
| FY2021, ended Dec 25, 2021 | $25.7B |
| FY2022, ended Dec 31, 2022 | $24.8B |
| FY2023, ended Dec 30, 2023 | $23.2B |
| FY2024, ended Dec 28, 2024 | $29.0B |
| FY2025, ended Dec 27, 2025 | $27.0B |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $16.3B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$15.8B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $6.78B |
| FY2017, ended Dec 30, 2017 | $7.26B |
| FY2018, ended Dec 29, 2018 | $7.91B |
| FY2019, ended Dec 28, 2019 | $8.35B |
| FY2020, ended Dec 26, 2020 | $10.6B |
| FY2021, ended Dec 25, 2021 | $12.7B |
| FY2022, ended Dec 31, 2022 | $14.2B |
| FY2023, ended Dec 30, 2023 | $14.6B |
| FY2024, ended Dec 28, 2024 | $14.9B |
| FY2025, ended Dec 27, 2025 | $15.5B |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $15.8B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $437M | $425M |
| FY2017, ended Dec 30, 2017 | $423M | $381M |
| FY2018, ended Dec 29, 2018 | $532M | $416M |
| FY2019, ended Dec 28, 2019 | $562M | $594M |
| FY2020, ended Dec 26, 2020 | $749M | $1.10B |
| FY2021, ended Dec 25, 2021 | $997M | $510M |
| FY2022, ended Dec 31, 2022 | $1.09B | $584M |
| FY2023, ended Dec 30, 2023 | $1.11B | $580M |
| FY2024, ended Dec 28, 2024 | $1.10B | $637M |
| FY2025, ended Dec 27, 2025 | $1.10B | $740M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $1.01B | $307M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$232M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $53.9M |
| FY2017, ended Dec 30, 2017 | $109M |
| FY2018, ended Dec 29, 2018 | $86.3M |
| FY2019, ended Dec 28, 2019 | $84.2M |
| FY2020, ended Dec 26, 2020 | $1.34B |
| FY2021, ended Dec 25, 2021 | $878M |
| FY2022, ended Dec 31, 2022 | $203M |
| FY2023, ended Dec 30, 2023 | $397M |
| FY2024, ended Dec 28, 2024 | $251M |
| FY2025, ended Dec 27, 2025 | $194M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $232M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$2.15B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $0 |
| FY2017, ended Dec 30, 2017 | $150M |
| FY2018, ended Dec 29, 2018 | $150M |
| FY2019, ended Dec 28, 2019 | $150M |
| FY2020, ended Dec 26, 2020 | $150M |
| FY2021, ended Dec 25, 2021 | $150M |
| FY2022, ended Dec 31, 2022 | $150M |
| FY2023, ended Dec 30, 2023 | $150M |
| FY2024, ended Dec 28, 2024 | $150M |
| FY2025, ended Dec 27, 2025 | $150M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $2.15B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 20.3% since 2016.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.521M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 654M |
| FY2017, ended Dec 30, 2017 | 626M |
| FY2018, ended Dec 29, 2018 | 606M |
| FY2019, ended Dec 28, 2019 | 586M |
| FY2020, ended Dec 26, 2020 | 582M |
| FY2021, ended Dec 25, 2021 | 564M |
| FY2022, ended Dec 31, 2022 | 550M |
| FY2023, ended Dec 30, 2023 | 540M |
| FY2024, ended Dec 28, 2024 | 532M |
| FY2025, ended Dec 27, 2025 | 526M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | 521M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.Net: $381M more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $332M | $23.6M |
| FY2017, ended Dec 30, 2017 | $369M | $29.2M |
| FY2018, ended Dec 29, 2018 | $350M | $28.9M |
| FY2019, ended Dec 28, 2019 | $533M | $31.1M |
| FY2020, ended Dec 26, 2020 | $343M | $37.3M |
| FY2021, ended Dec 25, 2021 | $799M | $47.6M |
| FY2022, ended Dec 31, 2022 | $700M | $53.8M |
| FY2023, ended Dec 30, 2023 | $594M | $57.0M |
| FY2024, ended Dec 28, 2024 | $561M | $48.4M |
| FY2025, ended Dec 27, 2025 | $361M | $57.1M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $445M | $64.2M |
Revenue (TTM)
$15.8B
+4.0% YoY
Net income (TTM)
$1.01B
−6.9% YoY
Cash
$232M
+2.6% YoY
Total debt
$2.15B
+28.7% YoY
Valuation
At current price- Market Cap
- $17.7B
- P/E
- 17.5×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.1×
- Price / Book
- 6.7×
- EV / EBITDA
- 10.6×
Growth
Trailing 12 months- Revenue (TTM)
- $15.8B
- Revenue Growth YoY
- 4.0%
- Revenue CAGR 3Y
- 3.0%
- Revenue CAGR 5Y
- 7.9%
- EPS Growth YoY
- −5.4%
- Net Income Growth YoY
- −6.9%
Profitability
Trailing 12 months- Gross Margin
- 36.5%
- Operating Margin
- 8.5%
- Net Margin
- 6.4%
- FCF Margin
- 1.9%
- Return on Equity
- 39.5%
Earnings
Trailing 12 months- Net Income
- $1.01B
- EPS (diluted)
- $1.92
- EBITDA
- $1.85B
- Operating Income
- $1.34B
Balance Sheet
As of Jun 27, 2026- Cash and cash equivalents
- $232M
- Total Debt
- $2.15B
- Net Debt
- $1.92B
- Total Assets
- $12.2B
- Total Liabilities
- $9.53B
- Shareholders' Equity
- $2.63B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.29B
- Capital Expenditure
- $979M
- Free Cash Flow
- $307M
Dividends and risk
Last 12 months- Dividend Yield
- 2.8%
- Dividend / Share
- $0.95
- Beta (5Y)
- 0.52
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $15.8B.
Note
Net margin of 6.4% over the last 12 months.
Note
Net debt of $1.92B is 1.0× EBITDA, a manageable load.
Note
Free cash flow of $307M, 1.9% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 27, 2025 · filed Feb 19, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K59Nothing notable
10-K for the fiscal year ended Dec 28, 2024
Filed Feb 20, 2025 · Read the filing on EDGAR
- Sales rose 2.2% to $14.88 billion, nearly all from new stores, while net income was about flat at $1.10 billion.
- Gross margin improved to 36.3%, but higher spending on growth trimmed operating margin to 9.9% from 10.2%.
- Tractor Supply bought Allivet in December 2024, split its stock five-for-one, and added $1 billion to its buyback authorization.
- For 2025 it plans about 90 new Tractor Supply stores, 10 Petsense stores, and a higher $0.23 quarterly dividend.
Business momentum
Stable
“Net sales increased 2.2% to $14.88 billion in fiscal 2024 from $14.56 billion in fiscal 2023.”
Outlook
Neutral
“The capital expenditures include a plan to open approximately 90 Tractor Supply stores, continuing Project Fusion remodels and side lot garden center transformations, and opening approximately 10 new Petsense by Tractor Supply stores.”
Financial stress
Low
“Operating activities provided cash of $1.42 billion and $1.33 billion in fiscal 2024 and 2023, respectively.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Gross margin improved on lower transportation costs
“The gross margin rate increase was primarily attributable to lower transportation costs along with disciplined product cost management and the continued execution of an everyday low price strategy.”
Operating cash flow grew and comfortably funds investment
“Operating activities provided cash of $1.42 billion and $1.33 billion in fiscal 2024 and 2023, respectively.”
Higher dividend and larger buyback authorization
“On February 12, 2025 the Company’s Board of Directors authorized a $1.00 billion increase to the existing share repurchase program, bringing the total amount authorized to date under the program to $7.50 billion.”
Concerns
Almost no sales growth at existing stores
“Comparable store sales increased 0.2% from the prior year and represented $14.44 billion in sales.”
Costs grew faster than sales, squeezing operating margin
“Total selling, general and administrative (“SG&A”) expenses, including depreciation and amortization, increased 4.8% to $3.93 billion in fiscal 2024 from $3.75 billion in fiscal 2023.”
Uncertain tariff and trade policy could raise costs
“It remains unclear how tax or trade policies, tariffs or trade relations may change under the current U.S. administration, which could adversely affect our business, results of operations, effective income tax rate, liquidity and net income.”
New risks since the previous report
Backlash over changed climate and diversity goals
“In July 2024, we announced a change in our goals relating to our carbon emissions goals and DE&I efforts.”
Integrating the newly acquired Allivet business
“We may, from time to time, acquire businesses we believe to be complementary to our business, such as the acquisition of Allivet, Inc. (“Allivet”) in December 2024.”
Biggest risks named
- Failing to grow sales at existing stores
- Tariffs, trade policy and reliance on imported products
- Weaker consumer spending on discretionary items
- Supply chain and distribution network disruption
- Failing to open and manage new stores successfully
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | 0 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −1 | |
| Score | 59 | |
Written by AI (Claude Opus 5.5) from the report’s text. 11 of 11 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 19, 2026 | Pro | |||
| 10-K | Feb 20, 2025 | 59 | Stable | None | |
| 10-K | Feb 23, 2024 | 59 | Stable | None | |
| 10-K | Feb 23, 2023 | 65 | Improving | None | |
| 10-K | Feb 17, 2022 | 69 | Strong improvement | None | |
| 10-K | Feb 18, 2021 | 66 | Strong improvement | 1 medium1 minor | |
| 10-K | Feb 20, 2020 | 65 | Improving | None | |
| 10-K | Feb 21, 2019 | 74 | Strong improvement | None | |
| 10-K | Feb 22, 2018 | 62 | Improving | 1 minor | |
| 10-K | Feb 23, 2017 | 66 | Improving | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 27, 2026), filed Aug 6, 2026. View filings on SEC EDGAR