Tractor Supply (TSCO) FY2013 results: revenue $5.2 billion, up 10.7% on the year
Tractor Supply Co. (TSCO) reported revenue of $5.2 billion for fiscal 2013, the year ended 28 December 2013, up 10.7% on the year before. Net income was $328 million, up 18.7%, and diluted earnings per share $0.46. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2014.
Revenue
$5.2 billion
+10.7% on the year
FY2008FY2013
Operating margin
10.0%
9.4% a year earlier
FY2008FY2013
Net income
$328 million
+18.7% on the year
FY2008FY2013
Diluted EPS
$0.46
+22.1% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
5,165
4,664
4,233
+10.7%
Cost of revenue
3,411
3,098
2,826
+10.1%
Gross profit
1,754
1,566
1,407
+12.0%
Gross margin
34.0%
33.6%
33.2%
Selling, general and administrative
1,139
1,040
974
+9.5%
Operating income
515
437
353
+17.8%
Operating margin
10.0%
9.4%
8.3%
Interest expense
0.6
1.1
2.1
-47.2%
Pre-tax income
514
436
351
+18.0%
Income tax
186
159
128
+16.7%
Effective tax rate
36.2%
36.6%
36.5%
Net income
328
276
223
+18.7%
Net margin
6.4%
5.9%
5.3%
Diluted EPS
$0.46
$0.38
$0.30
+22.1%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
334
378
254
-11.8%
Capital expenditure
218
153
166
+42.7%
Free cash flow
115
225
88.0
-48.8%
Free cash flow margin
2.2%
4.8%
2.1%
Cash from investing
-209
-139
-171
Cash from financing
-120
-278
-163
Depreciation and amortisation
100
89.0
80.3
+12.4%
Share-based compensation
13.9
17.6
15.0
-21.2%
Buybacks
129
272
180
-52.4%
Dividends paid
68.5
51.3
30.9
+33.5%
Dividend per share
$0.10
$0.07
$0.04
+36.1%
Diluted shares, weighted
709m
728m
739m
-2.6%
Shares outstanding at period end
698m
695m
713m
+0.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,247
1,025
1,008
+21.7%
Debt
n/a
0.0
0.0
Other liabilities
656
682
587
-3.7%
Total liabilities and equity
1,903
1,707
1,595
+11.5%
Fixed assets
665
550
481
+20.9%
Goodwill
10.3
10.3
10.3
0.0%
Cash and equivalents
143
139
177
+3.0%
Inventory
979
908
831
+7.8%
Other assets
106
99.8
95.9
+6.4%
Total assets
1,903
1,707
1,595
+11.5%
10-K for the year ended 28 December 2013, filed 19 February 2014: the filing.