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Earnings transcript
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TSCO
Tractor Supply Company
$43.82
-0.71
(-1.59%)
| Exchange: | NASDAQ |
| Market Cap: | 23.065B |
| Shares Outstanding: | 697.44M |
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Specialty Retail | |||||
| CEO: | Harry A. Lawton | |||||
| Full Time Employees: | 26000 | |||||
| Address: |
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| Website: | https://www.tractorsupply.com |
Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use. It provides its products under the 4health, Producer’s Pride, American Farmworks, Red Shed, Bit & Bridle, Redstone, Blue Mountain, Retriever, C.E. Schmidt, Ridgecut, Countyline, Royal Wing, Dumor, Strive, Groundwork, Traveller, Huskee, Treeline, JobSmart, TSC Tractor Supply Co, Paws & Claws, and Untamed brands. As of June 25, 2022, it operated 2,016 Tractor Supply stores in 49 states; and 178 Petsense stores in 23 states. The company operates its retail stores under the Tractor Supply Company, Del’s Feed & Farm Supply, and Petsense names; and operates websites under the TractorSupply.com and Petsense.com names. It sells its products to recreational farmers, ranchers, and others. The company was founded in 1938 and is based in Brentwood, Tennessee.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 14,555,741 | 14,883,231 | 15,524,046 |
| Gross Profit | 5,228,219 | 5,396,557 | 5,160,497 |
| EBITDA | 1,871,961 | 1,914,694 | 1,961,400 |
| Operating Income | 1,478,912 | 1,467,532 | 1,467,389 |
| Net Income | 1,107,226 | 1,101,240 | 1,096,087 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 9,188,151 | 9,805,485 | 10,933,679 |
| Total Liabilities | 7,038,389 | 7,535,151 | 8,352,386 |
| Total Stockholders Equity | 2,149,762 | 2,270,334 | 2,581,293 |
| Total Debt | 5,036,018 | 5,424,448 | 9,634,749 |
| Cash and Cash Equivalents | 397,071 | 251,491 | 194,109 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,334,033 | 1,420,835 | 1,635,258 |
| Capital Expenditure | -753,883 | -784,047 | -894,770 |
| Free Cash Flow | 580,150 | 636,788 | 740,488 |
| Net Income | 1,107,226 | 1,101,240 | 1,096,087 |
| Net Change in Cash | 194,569 | -145,580 | -57,383 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 20,515,308.149 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 21,080,051.028 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 20,841,500 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 2,595,714.172 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 2,667,168.673 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 2,636,985.832 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 1,639,645.742 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 1,698,605.743 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 1,673,699.813 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 4,739,453.841 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 4,869,920.943 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 4,814,810.799 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 3.150 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 3.190 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 3.080 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 5 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 6 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Revenue Performance: TSCO has demonstrated strong revenue figures in recent income statements, reflecting consistent demand for its products or services. This performance aligns with positive industry trends within its sector, as indicated by industry performance metrics.
- Solid Free Cash Flow: The company exhibits healthy free cash flow as per the latest cash flow statements, providing financial flexibility for reinvestment, debt management, and shareholder returns. This is a key indicator of operational efficiency.
- Favorable Valuation Metrics: Current price-to-earnings (P/E) ratio and price-to-sales (P/S) ratio from key metrics suggest TSCO is reasonably valued compared to industry averages, potentially indicating an attractive investment relative to peers.
- Strong Leadership Insights: The latest earnings call transcript highlights management’s focus on long-term growth strategies and customer satisfaction, which could reinforce investor confidence in the company’s strategic direction.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates TSCO intrinsic value between $17.36 – $37.42 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about TSCO valuation
Is Tractor Supply Company (TSCO) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Tractor Supply Company (TSCO) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is TSCO a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether TSCO trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is TSCO’s P/E ratio?
You can see TSCO’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for TSCO?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is TSCO a good long-term investment?
Whether TSCO fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
TSCO
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Daily snapshot
-1.59
Trading Metrics:
| Open: | 43.71 | Previous Close: | 44.53 | |
| Day Low: | 43.35 | Day High: | 44.35 | |
| Year Low: | 43.35 | Year High: | 63.99 | |
| Price Avg 50: | 50.68 | Price Avg 200: | 54.43 | |
| Volume: | 6.856M | Average Volume: | 6.762M |
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Login — it's freeTSCO full analysis
Welcome to MARKETSNAP’s SWOT analysis for Tractor Supply Company, or TSCO as you might know it on the ticker. If you’re a long-term investor looking to dig into a solid player in the retail space, you’ve come to the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for Tractor Supply, a company that’s carved out a unique niche in the rural lifestyle and agricultural retail market. Let’s dive into what makes this company tick, look at…
