Tractor Supply (TSCO) FY2017 results: revenue $7.3 billion, up 7.0% on the year
Tractor Supply Co. (TSCO) reported revenue of $7.3 billion for fiscal 2017, the year ended 30 December 2017, up 7.0% on the year before. Net income was $423 million, down 3.3%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$7.3 billion
+7.0% on the year
FY2010FY2017
Operating margin
9.5%
10.2% a year earlier
FY2010FY2017
Net income
$423 million
-3.3% on the year
FY2010FY2017
Diluted EPS
$0.66
+0.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,256
6,780
6,227
+7.0%
Cost of revenue
4,764
4,454
4,083
+7.0%
Gross profit
2,492
2,325
2,143
+7.2%
Gross margin
34.3%
34.3%
34.4%
Selling, general and administrative
1,640
1,488
1,369
+10.2%
Operating income
686
694
651
-1.1%
Operating margin
9.5%
10.2%
10.4%
Interest expense
13.9
5.8
2.9
+138.5%
Pre-tax income
673
688
648
-2.3%
Income tax
250
251
237
-0.5%
Effective tax rate
37.2%
36.5%
36.6%
Net income
423
437
410
-3.3%
Net margin
5.8%
6.4%
6.6%
Diluted EPS
$0.66
$0.65
$0.60
+0.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
631
651
456
-3.0%
Capital expenditure
250
226
236
+10.8%
Free cash flow
381
425
220
-10.3%
Free cash flow margin
5.3%
6.3%
3.5%
Cash from investing
-238
-369
-236
Cash from financing
-338
-291
-208
Depreciation and amortisation
166
143
124
+16.0%
Share-based compensation
29.2
23.6
19.4
+24.0%
Buybacks
369
332
293
+11.4%
Dividends paid
134
122
103
+9.5%
Dividend per share
$0.21
$0.18
$0.15
+14.1%
Diluted shares, weighted
641m
669m
684m
-4.2%
Shares outstanding at period end
627m
654m
671m
-4.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,419
1,453
1,393
-2.4%
Debt
426
274
150
+55.6%
Other liabilities
1,024
948
828
+8.0%
Total liabilities and equity
2,869
2,675
2,371
+7.2%
Fixed assets
1,045
962
848
+8.5%
Goodwill
93.2
94.4
10.3
-1.3%
Cash and equivalents
109
53.9
63.8
+102.4%
Inventory
1,453
1,370
1,284
+6.1%
Other assets
169
195
165
-13.3%
Total assets
2,869
2,675
2,371
+7.2%
10-K for the year ended 30 December 2017, filed 20 February 2020: the filing.