Tractor Supply

Consumer Discretionary Other Specialty Retail Brentwood, Tennessee Last filing Feb 19, 2026 · FY2025

                    Revenue
                    FY2025
                
$15.5B
                    3y CAGR +3.0%
                    
                    P31
                    
                    +4.3%
                    
                    Net income
                    FY2025
                
$1.1B
                    Net margin +7.1%
                    
                    P38
                    
                    -0.5%
                    
                    Total assets
                    FY2025
                
$10.9B
                    ROA +10.0%
                    
                    P52
                    
                    +11.5%
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    FCF margin +4.8%
                    
                    P15
                    
                    +15.1%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 10 years

Total assets $10.9B

Total liabilities $8.4B

Shareholders equity $2.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+15.3%	+21.2%	+33.0%	+24.7%	+74.7%	+123.4%	+16.0%	+26.5%	+102.4%	—
Accounts Receivable	+11.6%	—	—	+17.9%	—	—	—	—	—	—
Inventory	+9.4%	—	—	+12.0%	—	—	—	—	—	—
Prepaid Expenses	+9.4%	—	—	+18.1%	—	—	—	—	—	—
Other Current Assets	+9.4%	+10.2%	+13.4%	+18.1%	+12.6%	+10.2%	+3.7%	+12.4%	-2.5%	—
Total Current Assets	+9.8%	+10.2%	+11.6%	+13.0%	+16.5%	+21.0%	+5.6%	+8.7%	+9.1%	—
Property,Plant and Equipment	+13.6%	—	—	+13.7%	—	—	—	—	—	—
Operating Lease Assets	—	—	—	—	—	—	—	—	—	—
Goodwill	+0.7%	+12.7%	+14.7%	+16.0%	-19.2%	-42.6%	-52.3%	-67.0%	-1.3%	—
Other Noncurrent Assets	+11.2%	+16.9%	+17.9%	+9.7%	+18.3%	+6.3%	+0.3%	+2.9%	+8.5%	—
Total Assets	+16.9%	+17.6%	+19.3%	+21.2%	+23.8%	+27.4%	+25.5%	+7.4%	+7.2%	—
Liabilities
Accounts Payable	+11.6%	+11.4%	+12.4%	+17.9%	+17.3%	+17.1%	+7.4%	+9.2%	+11.0%	—
Accrued Liabilities	+13.1%	—	—	+15.0%	—	—	—	—	—	—
Current Portion of Long Term Debt	+23.5%	—	—	+28.1%	—	—	—	—	—	—
Operating Lease Liabilities	—	—	—	—	—	—	—	—	—	—
Other Current Liabilities	+12.3%	—	—	+14.0%	—	—	—	—	—	—
Total Current Liabilities	+14.4%	+14.6%	+15.9%	+20.5%	+21.6%	+22.4%	+17.1%	+9.9%	+9.3%	—
Long Term Debt	+23.5%	—	—	+28.1%	—	—	—	—	—	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	+1.2%	-7.9%	-4.9%	-15.6%	—	—	-87.9%	—	+72.9%	—
Other Noncurrent Liabilities	+12.3%	+13.2%	+14.1%	+14.0%	+14.1%	+27.2%	+11.8%	+11.5%	+12.1%	—
Total Liabilities	+23.8%	+25.5%	+28.4%	+31.9%	+36.4%	+43.1%	+45.0%	+11.7%	+18.7%	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	+20.2%	+23.0%	+26.6%	+0.7%	+0.7%	+0.7%	+0.7%	+0.5%	+0.2%	—
Additional Paid In Capital	+8.9%	+9.4%	+10.1%	+11.1%	+12.5%	+13.0%	+12.9%	+10.7%	+6.7%	—
Retained Earnings	+12.8%	+13.3%	+13.8%	+14.2%	+14.2%	+13.3%	+12.5%	+12.5%	+11.3%	—
Treasury Stock	-16.1%	+16.6%	-14.2%	-14.3%	+18.7%	+17.5%	+19.6%	+18.7%	+21.0%	—
Accumulated Other Comprehensive Income	—	—	—	+41.7%	—	—	—	—	—	—
Total Stockholders Equity	+6.6%	—	—	+5.8%	—	—	—	—	—	—
Total Liabilitiesand Equity	+16.9%	—	—	+21.2%	—	—	—	—	—	—

Income Statement

Revenue, expense, and profitability

16 accounts · 10 years

Revenue $15.5B

Operating income $1.5B

Net income $1.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+9.6%	—	—	+13.1%	—	—	—	—	—	—
Expenses Cost of Revenue	+9.2%	—	—	+12.9%	—	—	—	—	—	—
Expenses Selling,General and Administrative	+10.6%	—	—	+13.6%	—	—	—	—	—	—
Expenses Depreciation and Amortization	+14.8%	—	—	+15.7%	—	—	—	—	—	—
Expenses Share Based Compensation	+10.3%	—	—	+14.8%	—	—	—	—	—	—
Other Income Expense Gross Profit	+10.4%	—	—	+13.5%	—	—	—	—	—	—
Other Income Expense Operating Income	+8.7%	—	—	+12.9%	—	—	—	—	—	—
Other Income Expense Interest Expense	+31.7%	—	—	+31.9%	—	—	—	—	—	—
Other Income Expense Income Before Tax	+8.2%	—	—	+12.6%	—	—	—	—	—	—
Income Tax Income Tax Expense	+2.1%	—	—	+3.9%	—	—	—	—	—	—
net Income net Income	+10.8%	—	—	+16.4%	—	—	—	—	—	—
net Income Comprehensive Income	+10.7%	—	—	+16.5%	—	—	—	—	—	—
Earnings Per Share Basic Eps	-5.0%	-5.7%	-6.7%	-8.3%	+21.4%	+18.3%	+12.6%	+14.9%	+0.6%	—
Earnings Per Share Diluted Eps	-5.0%	-5.7%	-6.6%	-8.3%	+21.4%	+18.2%	+12.5%	+14.8%	+0.9%	—
Earnings Per Share Weighted Average Shares Basic	+16.6%	+19.1%	+22.4%	+27.0%	-2.9%	-3.3%	-3.4%	-3.9%	-4.0%	—
Earnings Per Share Weighted Average Shares Diluted	+16.6%	+19.0%	+22.3%	+27.0%	-2.8%	-3.2%	-3.4%	-3.9%	-4.2%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $1.6B

Investing cash flow $-778.6M

Financing cash flow $-914.1M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	+10.8%	+12.2%	+14.2%	+16.4%	+17.9%	+14.4%	+8.8%	+10.4%	-3.3%	—
Operating Activities Depreciation and Amortization	+14.8%	+15.3%	+15.5%	+15.7%	+13.6%	+11.0%	+11.1%	+11.4%	+16.0%	—
Operating Activities Stock Based Compensation	+10.3%	—	—	+14.8%	—	—	—	—	—	—
Operating Activities Deferred Income Taxes	+22.3%	—	—	+31.5%	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+9.9%	—	—	+22.2%	—	—	—	—	—	—
Operating Activities net Cash From Operating Activities	+10.8%	+10.3%	+10.8%	+13.0%	+11.8%	+21.0%	+7.6%	+3.3%	-3.0%	—
Investing Activities Capital Expenditures	+16.5%	+16.8%	+18.8%	+22.8%	+22.7%	+6.8%	-1.3%	+11.0%	+10.8%	—
Investing Activities Business Acquisitions	-0.3%	—	—	+18.2%	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	+14.2%	-2.3%	+9.4%	+1.1%	—	+20.7%	+2.0%	+12.4%	+24.9%	—
Financing Activities Repayment of Debt	+16.3%	-2.2%	+5.5%	+0.2%	—	+14.4%	+7.3%	+21.6%	+25.3%	—
Financing Activities Repurchase of Common Stock	+1.0%	—	—	+13.3%	—	—	—	—	—	—
Financing Activities Dividends Paid	+16.6%	+18.4%	+20.4%	+22.3%	+14.3%	+9.3%	+10.0%	+9.7%	+9.5%	—
Financing Activities Proceeds From Stock Issuance	-6.0%	—	—	-7.6%	—	—	—	—	—	—
Financing Activities Tax Withholding On Stock Based Compensation	+38.6%	—	—	+79.9%	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+15.3%	—	—	+24.7%	—	—	—	—	—	—
Cash Reconciliation Cash At End of Period	+15.3%	—	—	+24.7%	—	—	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+36.4%	+36.3%	+35.9%	+35.0%	+35.2%	+35.4%	+34.4%	+34.2%	+34.3%	+34.3%
Operating margin	+9.5%	+9.9%	+10.2%	+10.1%	+10.3%	+9.4%	+8.9%	+8.9%	+9.5%	+10.2%
Net margin	+7.1%	+7.4%	+7.6%	+7.7%	+7.8%	+7.1%	+6.7%	+6.7%	+5.8%	+6.4%
FCF margin	+4.8%	+4.3%	+4.0%	+4.1%	+4.0%	+10.4%	+7.1%	+5.3%	+5.3%	+6.3%
Growth
Revenue CAGR (3y)	+3.0%	+5.3%	+11.1%	+19.4%	+17.2%	+13.5%	+7.2%	—	—	—
Returns
ROE	+42.5%	+48.5%	+51.5%	+53.3%	+49.8%	+38.9%	+35.9%	+34.1%	+29.8%	+30.1%
ROA	+10.0%	+11.2%	+12.1%	+12.8%	+12.8%	+10.6%	+10.6%	+17.3%	+14.7%	+16.3%
ROIC	+19.4%	+26.9%	+29.7%	+26.7%	+41.8%	+41.2%	+27.1%	+29.4%	+25.2%	+22.9%
Liquidity
Current ratio	1.34x	1.43x	1.50x	1.33x	1.57x	1.87x	1.43x	1.91x	1.95x	1.95x
Quick ratio	0.61x	—	—	0.67x	—	—	—	—	—	0.74x
Leverage
D/E	3.24x	3.32x	3.27x	3.16x	2.88x	2.66x	2.38x	0.98x	1.02x	0.84x
Interest coverage	21.22x	—	31.80x	46.84x	49.11x	34.64x	37.46x	38.24x	49.53x	119.46x
Efficiency
Asset turnover	1.42x	1.52x	1.58x	1.67x	1.64x	1.51x	1.58x	2.56x	2.53x	2.53x
Cash conversion cycle	+95d	—	—	+88d	—	—	—	—	—	+98d

Valuation

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Tractor Supply

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