15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 7.9% per year over the past 5 years.
Net income has grown in line with revenue (7.9% vs 7.9% per year).
Operating margin has been roughly flat, at 9.5% in the latest year.
Free cash flow has declined 7.6% per year over the past 5 years.
Financial health
The company holds more cash ($194M) than total debt ($150M).
Total debt has grown slower than revenue (0.0% vs 7.9% per year).
Operating income covered interest expense 21× in the latest year, down from 35× 5 years ago.
Total debt is 0.1× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 44.5% of earnings and 65.9% of free cash flow.
The dividend has grown 22.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$15.5B
$1.1B
36.4%
9.5%
42.5%
10.0%
$740M
$150M
$194M
2024
$14.9B
$1.1B
36.3%
9.9%
48.5%
11.2%
$637M
$150M
$251M
2023
$14.6B
$1.1B
35.9%
10.2%
51.5%
12.1%
$580M
$150M
$397M
2022
$14.2B
$1.1B
35.0%
10.1%
53.3%
12.8%
$584M
$150M
$203M
2021
$12.7B
$997M
35.2%
10.3%
49.8%
12.8%
$510M
$150M
$878M
2020
$10.6B
$749M
35.4%
9.4%
38.9%
10.6%
$1.1B
$150M
$1.3B
2019
$8.4B
$562M
34.4%
8.9%
35.9%
10.6%
$594M
$150M
$84M
2018
$7.9B
$532M
34.2%
8.9%
34.1%
17.3%
$416M
$150M
$86M
2017
$7.3B
$423M
34.3%
9.5%
29.8%
14.7%
$381M
$150M
$109M
2016
—
$437M
—
—
30.1%
16.3%
$425M
$0
$54M
2015
—
$410M
—
—
29.5%
17.3%
$220M
$150M
$64M
2014
—
$371M
—
—
28.7%
18.2%
$249M
—
$51M
2013
—
$328M
—
—
26.3%
17.2%
$115M
—
$143M
2012
—
$276M
—
—
27.0%
16.2%
$225M
—
$139M
2011
—
$223M
—
—
22.1%
14.0%
$88M
—
$177M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$4.5B
$361M
37.1%
10.3%
13.7%
3.0%
$329M
$2.2B
$232M
Mar '26
$3.6B
$165M
36.2%
6.5%
6.5%
1.4%
-$111M
$2.1B
$224M
Dec '25
$3.9B
$1.1B
35.1%
7.6%
42.5%
10.0%
$59M
$150M
$194M
Sep '25
$3.7B
$259M
37.4%
9.2%
10.1%
2.4%
$30M
$1.7B
$185M
Jun '25
$4.4B
$430M
36.9%
13.0%
17.3%
4.1%
$575M
$1.7B
$226M
Mar '25
$3.5B
$179M
36.2%
7.2%
8.0%
1.7%
$75M
$2.1B
$232M
Dec '24
$3.8B
$236M
35.2%
8.4%
10.4%
2.4%
$271M
$150M
$251M
Sep '24
$3.5B
$241M
37.2%
9.4%
10.6%
2.5%
-$102M
$1.8B
$186M
Jun '24
$4.2B
$425M
36.6%
13.2%
18.4%
4.3%
$367M
$1.7B
$395M
Mar '24
$3.4B
$198M
36.0%
7.8%
9.3%
2.1%
$100M
$1.7B
$264M
Dec '23
$3.7B
$248M
35.3%
9.1%
11.5%
2.7%
$169M
$150M
$397M
Sep '23
$3.4B
$255M
36.6%
10.0%
12.1%
2.8%
-$22M
$1.7B
$422M
Jul '23
$4.2B
$421M
36.2%
13.4%
20.2%
4.7%
$571M
$1.7B
$620M
Apr '23
$3.3B
$183M
35.5%
7.4%
9.6%
2.1%
-$138M
$1.6B
$190M
Dec '22
$4.0B
$271M
34.0%
9.0%
13.3%
3.2%
$408M
$150M
$203M
Sep '22
$3.3B
$234M
35.6%
9.4%
12.1%
3.0%
-$185M
$1.1B
$211M
Jun '22
$3.9B
$396M
35.5%
13.5%
20.7%
5.0%
$414M
$987M
$531M
Mar '22
$3.0B
$187M
34.9%
8.1%
10.5%
2.4%
-$53M
$987M
$405M
Dec '21
$3.3B
$221M
33.8%
8.8%
11.1%
2.8%
$21M
$150M
$878M
Sep '21
$3.0B
$224M
36.0%
9.8%
11.1%
2.9%
-$103M
$986M
$1.1B
Valuation over time
How the market has priced TSCO against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 22.2× (Mar '23) to 16.8× (Nov '26).
The price-to-sales ratio has fallen from 1.7× (Mar '23) to 1.2× (Nov '26).
The dividend yield has risen from 1.7% (Mar '23) to 2.7% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is TSCO growing its revenue and profit?
Over the past 5 years, Tractor Supply's revenue has grown 7.9% per year, and net income grown 7.9% per year. These are computed facts, not advice.
How much debt does TSCO have?
As of FY2025, Tractor Supply reported $150M of total debt against $194M of cash; operating income covered interest expense 21×.
What is TSCO's profit margin?
In FY2025, gross margin was 36.4%, operating margin 9.5%, and net margin 7.1%.
What is TSCO's P/E ratio?
Tractor Supply's P/E (TTM) is 9.78 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the TSCO stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 16.8× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.