Tractor Supply (TSCO) FY2016 results: revenue $6.8 billion, up 8.9% on the year
Tractor Supply Co. (TSCO) reported revenue of $6.8 billion for fiscal 2016, the year ended 31 December 2016, up 8.9% on the year before. Net income was $437 million, up 6.5%, and diluted earnings per share $0.65. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$6.8 billion
+8.9% on the year
FY2009FY2016
Operating margin
10.2%
10.4% a year earlier
FY2009FY2016
Net income
$437 million
+6.5% on the year
FY2009FY2016
Diluted EPS
$0.65
+9.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
6,780
6,227
5,712
+8.9%
Cost of revenue
4,454
4,083
3,761
+9.1%
Gross profit
2,325
2,143
1,950
+8.5%
Gross margin
34.3%
34.4%
34.1%
Selling, general and administrative
1,488
1,369
1,246
+8.7%
Operating income
694
651
589
+6.7%
Operating margin
10.2%
10.4%
10.3%
Interest expense
5.8
2.9
1.9
+101.0%
Pre-tax income
688
648
588
+6.3%
Income tax
251
237
217
+5.9%
Effective tax rate
36.5%
36.6%
36.9%
Net income
437
410
371
+6.5%
Net margin
6.4%
6.6%
6.5%
Diluted EPS
$0.65
$0.60
$0.53
+9.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
651
456
409
+42.6%
Capital expenditure
226
236
161
-4.4%
Free cash flow
425
220
249
+93.3%
Free cash flow margin
6.3%
3.5%
4.4%
Cash from investing
-369
-236
-160
Cash from financing
-291
-208
-341
Depreciation and amortisation
143
124
115
+15.7%
Share-based compensation
23.6
19.4
16.2
+21.3%
Buybacks
332
293
298
+13.3%
Dividends paid
122
103
84.1
+18.6%
Dividend per share
$0.18
$0.15
$0.12
+21.1%
Diluted shares, weighted
669m
684m
697m
-2.2%
Shares outstanding at period end
654m
671m
682m
-2.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,453
1,393
1,294
+4.3%
Debt
274
150
n/a
+82.6%
Other liabilities
948
828
741
+14.5%
Total liabilities and equity
2,675
2,371
2,035
+12.8%
Fixed assets
962
848
721
+13.5%
Goodwill
94.4
10.3
10.3
+820.4%
Cash and equivalents
53.9
63.8
51.1
-15.5%
Inventory
1,370
1,284
1,115
+6.6%
Other assets
195
165
137
+18.1%
Total assets
2,675
2,371
2,035
+12.8%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.