Fundamental analysis · SEC EDGAR · TTM through 28/03/2026

Fundamental analysis of Tractor Supply Co

TSCO · Nasdaq · Consumer

Fundamental quality

REASONABLE

64

out of 100

Tractor Supply Co earns a fundamental-quality score of 64 out of 100, profiling it as a company of reasonable quality. Its score rests mainly on its profitability (net margin 6.9%). Its weakest area is its growth (revenue +7.7%/yr). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.

What the company does

Tractor Supply is the store of the American rural lifestyle: feed for chickens and horses, fencing, tools and workwear for those living outside the city, whether they own a farm or just a big yard. A niche the big urban chains never understood.

What will shape its future

  • The exodus to the country and exurbs, the demographic wind filling its stores.
  • Animal feed and consumables, the recurring, recession-proof half of its sales.
  • Its massive loyalty club, the engine of repeat visits.

Breakdown by area

I.Growth
52

EPS growth: 7.2% · Revenue growth: 7.7%

II.Profitability
71

Net margin: 6.9% · ROE: 43% · ROIC: 25.7%

III.Financial health
69

Net debt/EBITDA: 0.97x · FCF: 3.5%

Source: SEC EDGAR · TTM through 28/03/2026

The score combines growth, profitability and financial strength. Here its profitability weighs in its favor, while its growth drags it down the most.

Versus its sector

Percentile against the other 98 Consumer companies in our coverage: how far it beats them on each metric (100 = best in sector).

Net marginbeats 62%
ROEbeats 87%
Growthbeats 49%
Cash generationbeats 30%
Less debtbeats 63%

Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.

Key concepts

What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow

Tractor Supply Co strengths

  • Solid return on capital: its ROE (43%) is inflated by buybacks, but ROIC —which strips that out— is 25.7%.
  • Revenue rising without interruption since 2020.
  • Positive free cash flow year after year, a self-funding business.
  • Low leverage (net debt of 0.97× EBITDA).

Tractor Supply Co risks and weaknesses

  • Its net debt has grown over the period.

Tractor Supply Co historical evolution

YearRevenueNet incomeFree cash flowNet debt
202010,6207491,101-357
202112,731997510108
202214,2051,089584962
202314,5561,1075801,332
202414,8831,1016371,580
202515,5241,0967401,571

Between 2020 and 2025, revenue went from $10,620M to $15,524M (+46%) and net income went from $749M to $1,096M (+46%).

Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.

Latest results

Versus the same period a year earlier

Figures for the quarter ended March 28, 2026, versus the quarter ended March 29, 2025 (SEC filings):

  • Revenue+3.6%
  • Net income-8.3%

Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.

Dividend

$0.92

per share, yearly

44.5% of earnings

Payout

at least 3 straight years raising it

Growth

That is what we can verify in the SEC filings, whose structured data only starts in 2008 and which many companies begin tagging later. The real streak may be considerably longer.

The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →

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Is Tractor Supply Co cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

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Frequently asked questions

Is Tractor Supply Co a good company to invest in?

In terms of business quality, Tractor Supply Co scores 64 out of 100 in our analysis, placing it as a company of reasonable quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.

Is Tractor Supply Co a profitable company?

Tractor Supply Co is profitable, with a net margin of 6.9%, though a thin one.

Does Tractor Supply Co have a lot of debt?

Not particularly. Its net debt is 0.97 times its EBITDA, a low level.

Is Tractor Supply Co growing?

Its revenue has grown 7.7% annualized in recent years and its earnings per share 7.2%, and without interruption since 2020.

Does Tractor Supply Co generate cash?

Yes. It converts about 3.5% of its revenue into free cash flow, and has done so positively year after year.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

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