Tractor Supply (TSCO) FY2023 results: revenue $14.6 billion, up 2.5% on the year
Tractor Supply Co. (TSCO) reported revenue of $14.6 billion for fiscal 2023, the year ended 30 December 2023, up 2.5% on the year before. Net income was $1.1 billion, up 1.7%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$14.6 billion
+2.5% on the year
FY2016FY2023
Operating margin
10.2%
10.1% a year earlier
FY2016FY2023
Net income
$1.1 billion
+1.7% on the year
FY2016FY2023
Diluted EPS
$2.02
+3.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,334
1,357
1,139
-1.7%
Capital expenditure
754
773
628
-2.5%
Free cash flow
580
584
510
-0.6%
Free cash flow margin
4.0%
4.1%
4.0%
Cash from investing
-653
-1,094
-627
Cash from financing
-486
-939
-975
Depreciation and amortisation
393
343
270
+14.6%
Share-based compensation
57.0
53.8
47.6
+5.9%
Buybacks
594
700
799
-15.1%
Dividends paid
450
410
239
+9.8%
Dividend per share
$0.82
$0.74
$0.42
+12.0%
Diluted shares, weighted
549m
561m
579m
-2.1%
Shares outstanding at period end
540m
551m
566m
-2.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,150
2,042
2,003
+5.3%
Debt
1,729
1,164
986
+48.5%
Operating lease liabilities
2,903
2,722
2,575
+6.6%
Finance lease liabilities
31.4
34.7
32.8
-9.4%
Other liabilities
2,375
2,527
2,171
-6.0%
Total liabilities and equity
9,188
8,490
7,767
+8.2%
Fixed assets
2,437
2,084
1,618
+17.0%
Goodwill
246
230
32.4
+7.1%
Intangible assets
23.1
23.1
23.1
0.0%
Cash and equivalents
397
203
878
+96.1%
Inventory
2,646
2,710
2,191
-2.4%
Other assets
3,439
3,241
3,025
+6.1%
Total assets
9,188
8,490
7,767
+8.2%
10-K for the year ended 30 December 2023, filed 23 February 2024: the filing.