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Stocks / United States / TSCO · Retail-Building Materials, Hardware, Garden Supply · Nasdaq

Tractor Supply Co. (TSCO)

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Tractor Supply Co. (TSCO) reported revenue of $4.5 billion for Q2 FY2026, the quarter ended 27 June 2026, up 2.3% on the same quarter a year earlier. Net income was $361 million, down 16.1% on the year, and diluted earnings per share $0.69. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$4.5 billionup 2.3%
Net income$361 milliondown 16.1%
Diluted EPS$0.69
QuarterQ2 FY2026ended 27 June 2026

Ratios

From the filings

ROE38.5%
ROCE28.0%
Operating margin8.5%
Net margin6.4%
FCF margin1.9%
Interest cover19.80
Debt to equity0.82
Cash conversion1.27
Share count, 1 year-1.5%
Sales CAGR, 3 years3.0%
Profit CAGR, 3 years0.2%
EPS, TTM$1.91

At the close of 21 September 2026

Price$32.33
Market cap$16.9 billion
Stock P/E16.93
Price to book6.41
EV / EBITDA10.16
Dividend yield2.9%
Market cap / sales1.07
52-week high$58.56
52-week low$29.14
Price, 1 year-45.8%
Price CAGR, 3 years-7.6%
Price CAGR, 5 years-5.3%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Tractor Supply Co. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TSCO

Filings23 in twelve months: 14 current reports (8-K), about 6 other events; 4 officer or director change; 4 results of operations; 2 material agreement; 2 new financial obligation
Planned insider sales7 Form 144 notices in twelve months, $13.1 million; latest 5 August 2026
Options tapeput/call 0.54 by open interest on 23 September 2026; the straddle prices a 2.9% move to 25 September 2026
Holders9 of the followed funds hold it; largest Capital Research Global Investors; 7 Schedule 13D or 13G filings in twelve months
Insider trading8 sales and 4 purchases on Form 4 in twelve months
Congress15 House trades disclosed in six months
Short interest43.4 million shares short, 5.45 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,4123,6603,3954,2473,4683,7743,4674,4403,7193,8983,5924,541
Cost of revenue2,1622,3672,1742,6912,1782,4442,2122,8002,3302,5282,2912,859
Gross profit1,2501,2931,2211,5561,2901,3301,2551,6401,3891,3701,3011,683
Gross margin37%35%36%37%37%35%36%37%37%35%36%37%
SG&A8198568538858528918869409229449411,022
Operating income341334263561325318249578343298233467
Operating margin10%9%8%13%9%8%7%13%9%8%6%10%
Interest expense9.511.911.911.613.917.219.618.014.716.919.117.1
Pre-tax income331322251550311301229560328281214450
Tax rate23%23%21%23%22%21%22%23%21%19%23%20%
Net income255248198425241236179430259227165361
Net margin7%7%6%10%7%6%5%10%7%6%5%8%
Diluted EPS$2.33$2.28$1.83$3.93$2.24n/a$0.34$0.81$0.49$0.42$0.31$0.69
Operating cash flow15639625756086.351721778630832591.1562
Capital expenditure177227157193188246141210278266203233
Free cash flow-21.5169100367-10227175.557530.359.3-111329
Buybacks13711711814115115195.172.874.0119118136
Dividends paid112111119119118117122122122121126126
Shares outstanding108m108m108m107m107m532m531m530m529m527m526m522m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 9 fiscal years and the trailing twelve months

FY2017FY2018 FY2019 FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue7,2567,9118,35210,62012,73114,20514,55614,88315,52415,751
Cost of revenue4,7645,2095,4806,8598,2549,2339,3289,4879,87010,008
Gross profit2,4922,7032,8723,7624,4774,9725,2285,3975,6555,743
Gross margin34.3%34.2%34.4%35.4%35.2%35.0%35.9%36.3%36.4%36.5%
Selling, general and administrative1,6401,8231,9332,4792,9003,1943,3563,4823,6933,830
Operating income6867027439971,3071,4351,4791,4681,4671,341
Operating margin9.5%8.9%8.9%9.4%10.3%10.1%10.2%9.9%9.5%8.5%
Interest expense13.918.419.828.826.630.646.554.669.167.7
Pre-tax income6736837239681,2801,4041,4321,4131,3981,273
Income tax250151161219283316325312302261
Effective tax rate37.2%22.1%22.3%22.6%22.1%22.5%22.7%22.1%21.6%20.5%
Net income4235325627499971,0891,1071,1011,0961,012
Net margin5.8%6.7%6.7%7.1%7.8%7.7%7.6%7.4%7.1%6.4%
Diluted EPS$3.30$4.31$4.66$6.38$8.61$9.71$10.09$2.04$2.06$1.91
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2017FY2018 FY2019 FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow6316948121,3951,1391,3571,3341,4211,6351,286
Capital expenditure250279217294628773754784895979
Free cash flow3814165941,101510584580637740307
Free cash flow margin5.3%5.3%7.1%10.4%4.0%4.1%4.0%4.3%4.8%1.9%
Depreciation and amortisation166177196217270343393447494509
Share-based compensation29.228.931.137.347.653.857.048.457.164.3
Buybacks369350533343799700594561361447
Dividends paid134147163175239410450472488495
Dividend per share$1.05$1.20$1.36$1.50$2.08$3.68$4.12$0.88$0.92$0.94
Diluted shares, weighted128m123m121m117m116m112m110m540m532m525m
Shares outstanding at period end125m122m118m116m113m110m108m532m527m522m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2017FY2018 FY2019 FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets2,8693,0855,2897,0497,7678,4909,1889,80510,93412,162
Cash and equivalents10986.384.21,342878203397251194232
Inventory1,4531,5901,6031,7832,1912,7102,6462,8403,0843,518
Goodwill93.210.310.310.332.4230246246347425
Long-term debt1501501501501501501501501502,154
Operating lease liabilitiesn/a0.02,0012,2212,5752,7222,9033,1643,6923,874
Finance lease liabilitiesn/a29.330.433.132.834.731.428.030.742.9
Shareholders' equity1,4191,5621,5671,9242,0032,0422,1502,2702,5812,632
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a7.9%3.0%4.0%
Profit growth, compoundedn/a7.9%0.2%-6.9%
Return on equity, average42.7%49.1%47.5%42.5%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Retail-Building Materials, Hardware, Garden Supply

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Sherwin Williams Co. SHW$78.0 billion29.6469.7%n/a5.8%3.131.0%
Fastenal Co. FAST$57.0 billion42.2433.2%20.3%12.5%0.031.9%
Tractor Supply Co. TSCO$16.9 billion16.9338.5%8.5%4.0%0.822.9%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q27 June 20266 August 2026EDGAR
10-Q28 March 20267 May 2026EDGAR
10-K27 December 202519 February 2026EDGAR
10-Q27 September 20256 November 2025EDGAR
10-Q28 June 20257 August 2025EDGAR
10-Q29 March 20258 May 2025EDGAR
10-K28 December 202420 February 2025EDGAR
10-Q28 September 20247 November 2024EDGAR
10-Q29 June 20248 August 2024EDGAR
10-Q30 March 20249 May 2024EDGAR

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