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Largest US rural lifestyle retailer, selling farm/ranch supplies, tools, workwear and pet products to rural and suburban customers.
Largest US rural lifestyle retailer, selling farm/ranch supplies, tools, workwear and pet products to rural and suburban customers.
Sells everyday consumable goods, such as pet and animal feed, that its customers buy repeatedly, plus higher-ticket tools, trailers and equipment, mostly out of small-town stores. Its Neighbor's Club loyalty programme and own brands such as 4health and Retriever help repeat sales. It bought the Allivet online pet pharmacy in 2024.
Moat: narrow (scale, brand, distribution). Dense rural store network with a curated farm/ranch assortment that big-box retailers don't replicate well.
Headquarters: Brentwood, Tennessee, United States · Founded: 1938 · Employees: 52,000
Size Tractor Supply (TSCO) is a United States Consumer Discretionary company (Specialty Stores) with a market value of $18.9B, the 510th largest of 3,117 United States companies the cockpit tracks. Shares closed at $36.35 on 6 Nov 2026.
Performance Over six months the shares gained 19.6%, against +19.9% for the median peer and -1.1% for the United States market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +7.6%); the operating margin is 8.6% (peer median 5.3%).
Valuation It trades at 18.0× forward earnings against a peer median of 17.1× (10th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.0 points above its cost of capital (6.8% WACC).
Credit Tractor Supply has 3 bonds outstanding ($1.90B), rated BBB by the agencies and trading like BBB+ at a weighted spread of 83 bp.
Short interest Short interest is 8.9% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $15.9B | $15.5B | $14.9B | $14.6B | $14.2B |
| Revenue growth | — | +4% | +2% | +2% | — |
| Gross profit | $5.26B | $5.16B | $4.95B | $4.84B | $4.63B |
| EBITDA | $1.89B | $1.96B | $1.91B | $1.87B | $1.78B |
| Net income | $977M | $1.10B | $1.10B | $1.11B | $1.09B |
| Free cash flow | $290M | $740M | $637M | $580M | $584M |
| Capital expenditure | $917M | $895M | $784M | $754M | $773M |
| Total debt | $6.72B | $5.94B | $5.42B | $5.04B | $4.27B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tractor Supply TSCO | $18.9B | +20% | +4% | 9% | 18.0× | 4.1% |
| Chewy CHWY | $9.07B | -2% | +6% | 3% | 24.1× | 16.8% |
| Home Depot (The) HD | $343B | +9% | +2% | 12% | 22.4× | 9.0% |
| Lowe's LOW | $126B | -2% | +8% | 11% | 18.0× | 2.7% |
| Walmart WMT | $996B | -4% | +6% | 4% | 41.8× | 14.7% |
| Petco Health & Wellness WOOF | $848M | +5% | -1% | 3% | 12.5× | 6.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TSCO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.6% | +6.3% | 7th highest of 21 |
| 6-month return | +19.6% | +19.9% | 11th highest of 21 |
| Distance from 52-week high | -35.1% | -12.6% | 2nd lowest of 21 |
| Revenue growth (TTM) | +3.5% | +7.6% | 8th lowest of 21 |
| Operating margin | 8.6% | 5.3% | 7th highest of 21 |
| Forward P/E | 18.0× | 17.1× | 10th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 4.1% | 3.6% | 9th least demanding of 17 |
| Growth delivered (Del g) | +7.9% | +8.0% | 9th highest of 17 |
| Hurdle (Req g minus delivered) | -3.8 pp | -4.0 pp | 9th least demanding of 17 |
| ROIC minus cost of capital | +5.0 pp | +5.2 pp | 10th lowest of 20 |
| EV / EBITDA | 13.5× | 10.6× | 7th most expensive of 17 |
| Net debt / EBITDA | 3.5× | 2.2× | 8th most indebted of 21 |
| Bond spread | 83 bp | 114 bp | 3rd tightest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tractor Supply TSCO | United States | $18.9B | +20% | +4% | 9% | 18.0× | 4.1% | +7.9% |
| Wayfair W | United States | $15.3B | +69% | +8% | 2% | 29.6× | 47.7% | -2.5% |
| Penske Automotive PAG | United States | $13.9B | +22% | +6% | 3% | 15.2× | 12.6% | +9.2% |
| BJ's Wholesale Club BJ | United States | $13.8B | +18% | +9% | 4% | 22.4× | -0.7% | +6.8% |
| Ulta Beauty ULTA | United States | $27.6B | +24% | +11% | 13% | 21.1× | 7.1% | +15.0% |
| Dick's Sporting Goods DKS | United States | $12.5B | -35% | +54% | 6% | 11.8× | 8.7% | +12.4% |
| Williams-Sonoma WSM | United States | $29.9B | +40% | +2% | 19% | 25.6× | 15.4% | +2.9% |
| Nitori 9843.T | Japan | $11.7B | +47% | 0% | 13% | 20.0× | 2.7% | +4.9% |
| Carrefour CA.PA | France | $11.1B | -21% | -8% | 3% | 8.4× | -1.2% | +3.1% |
| Sanrio 8136.T | Japan | $9.78B | +33% | +28% | 39% | 22.4× | 1.9% | +36.4% |
| Murphy USA MUSA | United States | $9.45B | -10% | +20% | 4% | 17.5× | -9.4% | +11.5% |
| CarMax KMX | United States | $7.31B | +28% | +4% | 2% | 15.5× | 17.6% | +6.7% |
| Pepco Group BV PCO.WA | Poland | $7.18B | +58% | -42% | 15% | 16.8× | 4.6% | +4.5% |
| AutoZone AZO | United States | $51.8B | -8% | +7% | 18% | 19.0× | -2.8% | +6.8% |
| Lithia Motors LAD | United States | $6.68B | +5% | +1% | 4% | 8.0× | n/a | n/a |
| Alimentation Couche-Tard ATD.TO | Canada | $54.5B | +5% | +12% | 6% | 18.3× | 1.3% | +12.0% |
| Kalyan Jewellers India KALYANKJIL.NS | India | $6.47B | +44% | +46% | 6% | 37.6× | n/a | n/a |
| Ultrapar Participacoes S.A. Sponsored ADR UGP | United States | $6.12B | -11% | +20% | 5% | 7.0× | -12.6% | +12.2% |
| AutoNation AN | United States | $5.88B | -11% | -2% | 5% | 8.3× | n/a | n/a |
| Frasers FRAS.L | United Kingdom | $5.64B | +44% | +8% | 7% | 9.1× | n/a | n/a |
| Rush Enterprises RUSHA | United States | $5.54B | +6% | -3% | 5% | 15.4× | 7.9% | +9.4% |
Tractor Supply has 3 bonds outstanding with $1.90B face value. The agencies rate it BBB; its bonds trade like BBB+. Weighted yield 5.47%, a spread of 83 bp over government bonds.