Tractor Supply (TSCO) FY2015 results: revenue $6.2 billion, up 9.0% on the year
Tractor Supply Co. (TSCO) reported revenue of $6.2 billion for fiscal 2015, the year ended 26 December 2015, up 9.0% on the year before. Net income was $410 million, up 10.7%, and diluted earnings per share $0.60. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2016.
Revenue
$6.2 billion
+9.0% on the year
FY2008FY2015
Operating margin
10.4%
10.3% a year earlier
FY2008FY2015
Net income
$410 million
+10.7% on the year
FY2008FY2015
Diluted EPS
$0.60
+12.8% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
6,227
5,712
5,165
+9.0%
Cost of revenue
4,083
3,761
3,411
+8.6%
Gross profit
2,143
1,950
1,754
+9.9%
Gross margin
34.4%
34.1%
34.0%
Selling, general and administrative
1,369
1,246
1,139
+9.9%
Operating income
651
589
515
+10.4%
Operating margin
10.4%
10.3%
10.0%
Interest expense
2.9
1.9
0.6
+53.4%
Pre-tax income
648
588
514
+10.2%
Income tax
237
217
186
+9.5%
Effective tax rate
36.6%
36.9%
36.2%
Net income
410
371
328
+10.7%
Net margin
6.6%
6.5%
6.4%
Diluted EPS
$0.60
$0.53
$0.46
+12.8%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
456
409
334
+11.5%
Capital expenditure
236
161
218
+47.2%
Free cash flow
220
249
115
-11.6%
Free cash flow margin
3.5%
4.4%
2.2%
Cash from investing
-236
-160
-209
Cash from financing
-208
-341
-120
Depreciation and amortisation
124
115
100
+7.8%
Share-based compensation
19.4
16.2
13.9
+20.1%
Buybacks
293
298
129
-1.9%
Dividends paid
103
84.1
68.5
+22.7%
Dividend per share
$0.15
$0.12
$0.10
+24.6%
Diluted shares, weighted
684m
697m
709m
-1.9%
Shares outstanding at period end
671m
682m
698m
-1.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
1,393
1,294
1,247
+7.7%
Debt
150
n/a
n/a
Other liabilities
828
741
656
+11.7%
Total liabilities and equity
2,371
2,035
1,903
+16.5%
Fixed assets
848
721
665
+17.6%
Goodwill
10.3
10.3
10.3
0.0%
Cash and equivalents
63.8
51.1
143
+24.8%
Inventory
1,284
1,115
979
+15.1%
Other assets
165
137
106
+20.5%
Total assets
2,371
2,035
1,903
+16.5%
10-K for the year ended 26 December 2015, filed 23 February 2016: the filing.