T

TRACTOR SUPPLY CO /DE/

TSCO · CIK 0000916365

18 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$15.52B4.3%
FY2025
Net income (FY)
$1.10B0.5%
FY2025
Free cash flow (FY)
$740.5M16.3%
FY2025
Diluted EPS (FY)
$2.061.0%
FY2025
The story, charted

The shape of the business

FY2008–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$5B$10B$15BFY2008 · Revenue $3.01B · Net income $108.0M · 0000916365-11-000013 · filed 2011-02-23FY08Revenue $3.01BNet income $108.0M0000916365-11-000013 · filed 2011-02-23FY2009 · Revenue $3.21B · Net income $119.7M · 0000916365-12-000017 · filed 2012-02-29FY09Revenue $3.21BNet income $119.7M0000916365-12-000017 · filed 2012-02-29FY2010 · Revenue $3.64B · Net income $168.0M · 0000916365-13-000006 · filed 2013-02-20FY10Revenue $3.64BNet income $168.0M0000916365-13-000006 · filed 2013-02-20FY2011 · Revenue $4.23B · Net income $222.7M · 0000916365-14-000056 · filed 2014-02-19FY11Revenue $4.23BNet income $222.7M0000916365-14-000056 · filed 2014-02-19FY2012 · Revenue $4.66B · Net income $276.5M · 0000916365-15-000042 · filed 2015-02-18FY12Revenue $4.66BNet income $276.5M0000916365-15-000042 · filed 2015-02-18FY2013 · Revenue $5.16B · Net income $328.2M · 0000916365-16-000140 · filed 2016-02-23FY13Revenue $5.16BNet income $328.2M0000916365-16-000140 · filed 2016-02-23FY2014 · Revenue $5.71B · Net income $370.9M · 0000916365-17-000031 · filed 2017-02-23FY14Revenue $5.71BNet income $370.9M0000916365-17-000031 · filed 2017-02-23FY2015 · Revenue $6.23B · Net income $410.4M · 0000916365-18-000031 · filed 2018-02-22FY15Revenue $6.23BNet income $410.4M0000916365-18-000031 · filed 2018-02-22FY2016 · Revenue $6.78B · Net income $437.1M · 0000916365-19-000035 · filed 2019-02-21FY16Revenue $6.78BNet income $437.1M0000916365-19-000035 · filed 2019-02-21FY2017 · Revenue $7.26B · Net income $422.6M · 0000916365-20-000050 · filed 2020-02-20FY17Revenue $7.26BNet income $422.6M0000916365-20-000050 · filed 2020-02-20FY2018 · Revenue $7.91B · Net income $532.4M · 0000916365-21-000052 · filed 2021-02-18FY18Revenue $7.91BNet income $532.4M0000916365-21-000052 · filed 2021-02-18FY2019 · Revenue $8.35B · Net income $562.4M · 0000916365-22-000049 · filed 2022-02-17FY19Revenue $8.35BNet income $562.4M0000916365-22-000049 · filed 2022-02-17FY2020 · Revenue $10.62B · Net income $749.0M · 0000916365-22-000049 · filed 2022-02-17 · 0000916365-23-000045 · filed 2023-02-23FY20Revenue $10.62BNet income $749.0M0000916365-22-000049 · filed 2022-02-17 · 0000916365-23-000045 · filed 2023-02-23FY2021 · Revenue $12.73B · Net income $997.1M · 0000916365-24-000046 · filed 2024-02-23FY21Revenue $12.73BNet income $997.1M0000916365-24-000046 · filed 2024-02-23FY2022 · Revenue $14.20B · Net income $1.09B · 0000916365-25-000076 · filed 2025-02-20FY22Revenue $14.20BNet income $1.09B0000916365-25-000076 · filed 2025-02-20FY2023 · Revenue $14.56B · Net income $1.11B · 0000916365-26-000014 · filed 2026-02-19FY23Revenue $14.56BNet income $1.11B0000916365-26-000014 · filed 2026-02-19FY2024 · Revenue $14.88B · Net income $1.10B · 0000916365-26-000014 · filed 2026-02-19FY24Revenue $14.88BNet income $1.10B0000916365-26-000014 · filed 2026-02-19FY2025 · Revenue $15.52B · Net income $1.10B · 0000916365-26-000014 · filed 2026-02-19FY25Revenue $15.52BNet income $1.10B0000916365-26-000014 · filed 2026-02-19FY25Revenue $15.52BNet income $1.10B0000916365-26-000014 · filed 2026-02-19FY09FY11FY13FY15FY17FY19FY21FY23FY25

revenue 5.2× since FY2008 · net margin 3.6% → 7.1%

MarginsNet marginFCF margin
0%5%10%FY2008 · Net margin 3.6% · FCF margin 4.2%FY08Net margin 3.6%FCF margin 4.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2009 · Net margin 3.7% · FCF margin 4.4%FY09Net margin 3.7%FCF margin 4.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2010 · Net margin 4.6% · FCF margin 3.5%FY10Net margin 4.6%FCF margin 3.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 5.3% · FCF margin 2.1%FY11Net margin 5.3%FCF margin 2.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 5.9% · FCF margin 4.8%FY12Net margin 5.9%FCF margin 4.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 6.4% · FCF margin 2.2%FY13Net margin 6.4%FCF margin 2.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 6.5% · FCF margin 4.4%FY14Net margin 6.5%FCF margin 4.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 6.6% · FCF margin 3.5%FY15Net margin 6.6%FCF margin 3.5%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 6.4% · FCF margin 6.3%FY16Net margin 6.4%FCF margin 6.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 5.8% · FCF margin 5.3%FY17Net margin 5.8%FCF margin 5.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 6.7% · FCF margin 5.3%FY18Net margin 6.7%FCF margin 5.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 6.7% · FCF margin 7.1%FY19Net margin 6.7%FCF margin 7.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 7.1% · FCF margin 10.4%FY20Net margin 7.1%FCF margin 10.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 7.8% · FCF margin 4.0%FY21Net margin 7.8%FCF margin 4.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 7.7% · FCF margin 4.1%FY22Net margin 7.7%FCF margin 4.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 7.6% · FCF margin 4.0%FY23Net margin 7.6%FCF margin 4.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 7.4% · FCF margin 4.3%FY24Net margin 7.4%FCF margin 4.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 7.1% · FCF margin 4.8%FY25Net margin 7.1%FCF margin 4.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 7.1%FCF margin 4.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’09’13’17’21’25

FY2025: net 7.1% · free cash flow 4.8% of revenue

Cash engineOperating cash flowFree cash flow
$0$500M$1B$1.5BFY2008 · OCF $217.7M · FCF $126.0M · 0000916365-11-000013 · filed 2011-02-23FY08OCF $217.7MFCF $126.0M0000916365-11-000013 · filed 2011-02-23FY2009 · OCF $215.3M · FCF $141.3M · 0000916365-12-000017 · filed 2012-02-29FY09OCF $215.3MFCF $141.3M0000916365-12-000017 · filed 2012-02-29FY2010 · OCF $222.6M · FCF $126.1M · 0000916365-13-000006 · filed 2013-02-20FY10OCF $222.6MFCF $126.1M0000916365-13-000006 · filed 2013-02-20FY2011 · OCF $254.1M · FCF $88.0M · 0000916365-14-000056 · filed 2014-02-19FY11OCF $254.1MFCF $88.0M0000916365-14-000056 · filed 2014-02-19FY2012 · OCF $378.3M · FCF $225.4M · 0000916365-15-000042 · filed 2015-02-18FY12OCF $378.3MFCF $225.4M0000916365-15-000042 · filed 2015-02-18FY2013 · OCF $333.7M · FCF $115.5M · 0000916365-16-000140 · filed 2016-02-23FY13OCF $333.7MFCF $115.5M0000916365-16-000140 · filed 2016-02-23FY2014 · OCF $409.2M · FCF $248.6M · 0000916365-17-000031 · filed 2017-02-23FY14OCF $409.2MFCF $248.6M0000916365-17-000031 · filed 2017-02-23FY2015 · OCF $456.2M · FCF $219.7M · 0000916365-18-000031 · filed 2018-02-22FY15OCF $456.2MFCF $219.7M0000916365-18-000031 · filed 2018-02-22FY2016 · OCF $650.7M · FCF $424.7M · 0000916365-19-000035 · filed 2019-02-21FY16OCF $650.7MFCF $424.7M0000916365-19-000035 · filed 2019-02-21FY2017 · OCF $631.5M · FCF $381.0M · 0000916365-20-000050 · filed 2020-02-20FY17OCF $631.5MFCF $381.0M0000916365-20-000050 · filed 2020-02-20FY2018 · OCF $694.4M · FCF $415.9M · 0000916365-21-000052 · filed 2021-02-18FY18OCF $694.4MFCF $415.9M0000916365-21-000052 · filed 2021-02-18FY2019 · OCF $811.7M · FCF $594.3M · 0000916365-22-000049 · filed 2022-02-17FY19OCF $811.7MFCF $594.3M0000916365-22-000049 · filed 2022-02-17FY2020 · OCF $1.39B · FCF $1.10B · 0000916365-23-000045 · filed 2023-02-23FY20OCF $1.39BFCF $1.10B0000916365-23-000045 · filed 2023-02-23FY2021 · OCF $1.14B · FCF $510.3M · 0000916365-24-000046 · filed 2024-02-23FY21OCF $1.14BFCF $510.3M0000916365-24-000046 · filed 2024-02-23FY2022 · OCF $1.36B · FCF $583.6M · 0000916365-25-000076 · filed 2025-02-20FY22OCF $1.36BFCF $583.6M0000916365-25-000076 · filed 2025-02-20FY2023 · OCF $1.33B · FCF $580.1M · 0000916365-26-000014 · filed 2026-02-19FY23OCF $1.33BFCF $580.1M0000916365-26-000014 · filed 2026-02-19FY2024 · OCF $1.42B · FCF $636.8M · 0000916365-26-000014 · filed 2026-02-19FY24OCF $1.42BFCF $636.8M0000916365-26-000014 · filed 2026-02-19FY2025 · OCF $1.64B · FCF $740.5M · 0000916365-26-000014 · filed 2026-02-19FY25OCF $1.64BFCF $740.5M0000916365-26-000014 · filed 2026-02-19FY25OCF $1.64BFCF $740.5M0000916365-26-000014 · filed 2026-02-19’09’13’17’21’25

FY2025: $1.64B operating cash − $894.8M capex = $740.5M free cash flow

Returns on capitalReturn on equityReturn on assets
0%20%40%FY2009 · ROE 15.4% · ROA 9.4%FY09ROE 15.4%ROA 9.4%derived: net income ÷ equity · derived: net income ÷ assetsFY2010 · ROE 18.0% · ROA 11.5%FY10ROE 18.0%ROA 11.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2011 · ROE 22.1% · ROA 14.0%FY11ROE 22.1%ROA 14.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 27.0% · ROA 16.2%FY12ROE 27.0%ROA 16.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 26.3% · ROA 17.2%FY13ROE 26.3%ROA 17.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 28.7% · ROA 18.2%FY14ROE 28.7%ROA 18.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 29.5% · ROA 17.3%FY15ROE 29.5%ROA 17.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 30.1% · ROA 16.3%FY16ROE 30.1%ROA 16.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 29.8% · ROA 14.7%FY17ROE 29.8%ROA 14.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 34.1% · ROA 17.3%FY18ROE 34.1%ROA 17.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 35.9% · ROA 10.6%FY19ROE 35.9%ROA 10.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 38.9% · ROA 10.6%FY20ROE 38.9%ROA 10.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 49.8% · ROA 12.8%FY21ROE 49.8%ROA 12.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 53.3% · ROA 12.8%FY22ROE 53.3%ROA 12.8%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 51.5% · ROA 12.1%FY23ROE 51.5%ROA 12.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 48.5% · ROA 11.2%FY24ROE 48.5%ROA 11.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 42.5% · ROA 10.0%FY25ROE 42.5%ROA 10.0%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 42.5%ROA 10.0%derived: net income ÷ equity · derived: net income ÷ assets’09’13’17’21’25

return on equity 15% (FY2009) → 42% (FY2025) · on assets 10.0%

Balance sheetLiabilitiesEquity
$0$5B$10BFY2009 · Liabilities $497.4M · Equity $779.2MFY09Liabilities $497.4MEquity $779.2M0000916365-11-000013 · filed 2011-02-23FY2010 · Liabilities $530.2M · Equity $933.2MFY10Liabilities $530.2MEquity $933.2M0000916365-12-000017 · filed 2012-02-29FY2011 · Liabilities $586.5M · Equity $1.01BFY11Liabilities $586.5MEquity $1.01B0000916365-13-000006 · filed 2013-02-20FY2012 · Liabilities $681.8M · Equity $1.02BFY12Liabilities $681.8MEquity $1.02B0000916365-14-000056 · filed 2014-02-19FY2013 · Liabilities $656.5M · Equity $1.25BFY13Liabilities $656.5MEquity $1.25B0000916365-15-000042 · filed 2015-02-18FY2014 · Liabilities $741.0M · Equity $1.29BFY14Liabilities $741.0MEquity $1.29B0000916365-16-000140 · filed 2016-02-23FY2015 · Liabilities $977.5M · Equity $1.39BFY15Liabilities $977.5MEquity $1.39B0000916365-17-000031 · filed 2017-02-23FY2016 · Liabilities $1.22B · Equity $1.45BFY16Liabilities $1.22BEquity $1.45B0000916365-18-000031 · filed 2018-02-22FY2017 · Liabilities $1.45B · Equity $1.42BFY17Liabilities $1.45BEquity $1.42B0000916365-19-000035 · filed 2019-02-21FY2018 · Liabilities $1.52B · Equity $1.56BFY18Liabilities $1.52BEquity $1.56B0000916365-20-000050 · filed 2020-02-20FY2019 · Liabilities $3.72B · Equity $1.57BFY19Liabilities $3.72BEquity $1.57B0000916365-21-000052 · filed 2021-02-18FY2020 · Liabilities $5.13B · Equity $1.92BFY20Liabilities $5.13BEquity $1.92B0000916365-22-000049 · filed 2022-02-17FY2021 · Liabilities $5.76B · Equity $2.00BFY21Liabilities $5.76BEquity $2.00B0000916365-23-000045 · filed 2023-02-23FY2022 · Liabilities $6.45B · Equity $2.04BFY22Liabilities $6.45BEquity $2.04B0000916365-24-000046 · filed 2024-02-23FY2023 · Liabilities $7.04B · Equity $2.15BFY23Liabilities $7.04BEquity $2.15B0000916365-25-000076 · filed 2025-02-20FY2024 · Liabilities $7.54B · Equity $2.27BFY24Liabilities $7.54BEquity $2.27B0000916365-26-000014 · filed 2026-02-19FY2025 · Liabilities $8.35B · Equity $2.58BFY25Liabilities $8.35BEquity $2.58B0000916365-26-000014 · filed 2026-02-19FY25Liabilities $8.35BEquity $2.58B0000916365-26-000014 · filed 2026-02-19’09’13’17’21’25

FY2025: $10.93B assets · $8.35B liabilities · $2.58B equity

The receipts