Tractor Supply Company
- Open
- 31.69
- Day high
- 31.87
- Day low
- 31.09
- Prev close
- 31.02
- Volume
- 4.4M
- Mkt cap
- $16.3B
- P/E (TTM)
- 16.2
- EPS (TTM)
- $1.97
- P/B
- 6.2
- P/S
- 1.0
- Yield
- 1.55%
- Per share
- $0.48
Tractor Supply Company (TSCO) is a Consumer Cyclical company listed on NASDAQ. The stock is down 48% over the past year. Drillr has 1 published research article covering TSCO.
Tractor Supply Company (TSCO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 14 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TSCO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $0.82 | $0.81 | -1.0% | $4.5B | -0.8% |
| Apr 21, 2026 | $0.35 | $0.31 | -11.4% | $3.6B | -1.1% |
| Jan 29, 2026 | $0.46 | $0.43 | -6.5% | $3.9B | +6.3% |
| Oct 23, 2025 | $0.48 | $0.49 | +1.6% | $3.7B | +0.1% |
| Jul 24, 2025 | $0.80 | $0.81 | +1.0% | $4.4B | +1.0% |
| Apr 24, 2025 | $0.37 | $0.34 | -7.6% | $3.5B | -1.9% |
| Jan 30, 2025 | $2.28 | $0.44 | -80.7% | $3.8B | -0.2% |
| Oct 24, 2024 | $0.45 | $0.45 | +0.6% | $3.5B | -0.4% |
| Jul 25, 2024 | $3.92 | $0.79 | -79.8% | $4.2B | -0.9% |
| Apr 25, 2024 | $1.72 | $0.37 | -78.5% | $3.4B | -0.1% |
| Feb 1, 2024 | $0.44 | $0.46 | +4.5% | $3.7B | -0.4% |
| Oct 26, 2023 | $0.45 | $0.47 | +4.4% | $3.4B | -1.7% |
TSCO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Krishnan Ramkumardirector | Grant | 830 | — |
| Jul 6, 2026 | Ham Margaret Mdirector | Grant | 415 | — |
| May 18, 2026 | Hawaux Andre Jdirector | Grant | 5,712 | — |
| May 18, 2026 | Ham Margaret Mdirector | Grant | 5,712 | — |
| May 18, 2026 | Krishnan Ramkumardirector | Grant | 5,712 | — |
| May 18, 2026 | Jackson Denise Ldirector | Grant | 5,712 | — |
| May 18, 2026 | Weikel Mark Jdirector | Grant | 5,712 | — |
| May 18, 2026 | Syngal Soniadirector | Grant | 5,712 | — |
| May 18, 2026 | Brown Joydirector | Grant | 5,712 | — |
| May 18, 2026 | Cardenas Ricardodirector | Grant | 5,712 | — |
| May 18, 2026 | MORRIS EDNAdirector | Grant | 9,174 | — |
| Apr 3, 2026 | Krishnan Ramkumardirector | Grant | 579 | $45.30 |
| Apr 3, 2026 | Ham Margaret Mdirector | Grant | 290 | $45.30 |
| Feb 17, 2026 | Mills Robert Dofficer: EVP Chief Technology Officer | Tax | 866 | $54.06 |
| Feb 17, 2026 | Ordus John Pofficer: EVP Chief Stores Officer | Tax | 680 | $54.06 |
Source: TSCO SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full TSCO insider & 13F page →Tractor Supply Company company profile
Overview
Tractor Supply Company (NASDAQ:TSCO) is America's largest rural lifestyle retailer, founded in 1938 and headquartered in Brentwood, Tennessee. The company went public in 1994 and has grown to become the dominant player in serving the needs of recreational farmers, ranchers, and rural lifestyle enthusiasts across the United States. With over 2,000 stores spanning 49 states and a robust e-commerce platform, Tractor Supply has successfully positioned itself as the go-to destination for rural America's everyday needs, from livestock feed to lawn equipment.
Business
Tractor Supply operates in the specialty retail sector, specifically targeting the rural lifestyle market. The company serves as a one-stop shop for customers who live in rural areas or pursue rural hobbies, regardless of their primary residence location. The company's core business revolves around several key product categories. Consumable, Usable, and Edible (C.U.E.) products represent the largest segment, including animal feed, pet food, bedding, and other consumables that customers need to replenish regularly. This category typically accounts for approximately 60% of total sales and provides recurring revenue streams. Hardlines constitute another major segment, encompassing tools, hardware, truck accessories, and seasonal items like heating products and lawn equipment, representing roughly 25% of sales. The Clothing and Footwear segment, accounting for about 15% of sales, includes work wear, boots, and outdoor recreational clothing. The company operates under multiple store formats, with the flagship Tractor Supply stores serving as large-format rural lifestyle retailers, and Petsense stores focusing specifically on pet supplies in smaller communities. Tractor Supply also maintains a significant e-commerce presence through TractorSupply.com, which generates over $1 billion in annual digital sales. The rural lifestyle retail industry serves a unique niche that bridges agricultural supply, pet care, and outdoor recreation. Unlike traditional farm supply stores that focus purely on commercial agriculture, Tractor Supply targets "recreational farmers" - customers who may keep a few chickens, maintain small livestock operations, or simply enjoy rural living. This market has expanded significantly as more Americans embrace rural lifestyles, pet ownership increases, and urban dwellers seek weekend retreats in rural areas.
Revenue model
Tractor Supply generates revenue primarily through direct product sales to consumers, operating on a traditional retail model with physical stores complemented by e-commerce. The company purchases merchandise from suppliers and sells it at marked-up prices to end customers, with gross margins typically ranging from 35-40%. The business model benefits from several revenue-driving factors. The Neighbor's Club loyalty program, with over 38 million members representing 80% of sales, creates customer stickiness and enables targeted marketing. The program provides valuable customer data that drives personalized offers and inventory optimization. Private label brands like 4health, Producer's Pride, and Countyline offer higher margins while providing customers with value-oriented alternatives to national brands. Geographic expansion continues to drive growth, with management targeting 3,000 total domestic stores compared to the current 2,000+ locations. The company focuses on smaller communities and rural markets that are underserved by other retailers. Store localization initiatives customize product assortments based on regional preferences and local agricultural patterns. Several factors can positively impact margins and revenue growth. Market share gains in fragmented categories like pet food and agricultural supplies provide organic growth opportunities. Rural migration trends and increased pet ownership expand the addressable market. The company's needs-based product mix creates resilience during economic downturns, as customers must continue feeding animals and maintaining basic equipment regardless of economic conditions. Conversely, margin pressures can arise from commodity price volatility affecting feed and agricultural products, supply chain disruptions impacting product availability and costs, and competitive pressure from big-box retailers and e-commerce players. Seasonal weather patterns significantly impact sales of lawn care, heating, and seasonal products. The ongoing shift from goods to services spending in the broader economy can pressure discretionary purchases, though Tractor Supply's needs-based categories provide some insulation.
Competitive moat
Tractor Supply enjoys a moderate to strong competitive moat built primarily on market positioning and operational advantages rather than structural barriers. The company's strongest defensive characteristic is its specialized market focus and deep understanding of rural customer needs. Unlike general retailers, Tractor Supply has cultivated expertise in agricultural, pet, and rural lifestyle products that creates trust and loyalty among its customer base. The company's geographic moat provides meaningful protection in many markets. Tractor Supply strategically locates stores in smaller communities and rural areas where the customer density may not support multiple competitors. This creates natural barriers to entry in many locations, particularly for large format competitors who require higher population densities to achieve profitability. Scale advantages in purchasing, distribution, and private label development give Tractor Supply cost advantages over smaller regional competitors. The company's 10 distribution centers and established supplier relationships enable competitive pricing and consistent product availability. The Neighbor's Club loyalty program creates a data advantage that enables better inventory management and targeted marketing. However, the moat faces several challenges. E-commerce competition from Amazon and other online retailers threatens certain product categories, particularly standardized items like pet food and basic tools. Big-box retailers like Home Depot and Lowe's continue expanding their outdoor and agricultural product offerings, leveraging their scale and convenience. Walmart's rural presence creates competition for price-sensitive customers, though Walmart lacks Tractor Supply's specialized knowledge and product breadth. The company's moat is also vulnerable to changing consumer preferences and rural demographic shifts. If rural migration trends reverse or younger generations show less interest in rural lifestyles, the addressable market could contract. Additionally, the rise of direct-to-consumer agricultural suppliers and specialized e-commerce players could erode market share in specific categories. Overall, Tractor Supply's moat is solid but not impregnable, requiring continuous investment in customer experience, product innovation, and operational efficiency to maintain competitive advantages.
Risks & safety
Tractor Supply demonstrates a moderate margin of safety with solid financial fundamentals but elevated valuation metrics. **Financial Strength:** - Cash position: $232 million with additional $394 million in short-term investments - Debt-to-equity ratio: 2.57x, indicating moderate leverage - Current ratio: 1.41x, showing adequate liquidity - Free cash flow: $75 million in Q1 2025, with strong annual generation of $637 million in 2024 - No immediate solvency concerns given strong cash generation and manageable debt levels **Valuation Metrics:** - P/E ratio: 39.6x (current), significantly above historical averages - EV/EBITDA: 23.0x, indicating premium valuation - Price-to-book: 12.7x, reflecting high market expectations - Graham number suggests potential overvaluation at current levels **Other Considerations:** - Recession-resistant business model due to needs-based product mix - Strong market position in defensive rural lifestyle sector - Consistent dividend payments and share repurchase program - Exposure to tariff impacts on imported goods (12% of business is direct imports)
Recent development
Over the past several years, Tractor Supply has executed a comprehensive transformation strategy focused on enhancing customer experience and expanding market reach. The company's Project Fusion store remodeling initiative has been rolled out to 45% of stores, featuring improved layouts, expanded garden centers, and better product presentation. This program has demonstrated measurable improvements in customer satisfaction and sales productivity. The Neighbor's Club loyalty program has emerged as a strategic cornerstone, growing from 28 million members in 2022 to over 38 million in 2024. The program now represents 80% of total sales and provides valuable customer data for personalization and inventory optimization. Recent enhancements include the Hometown Heroes program recognizing military personnel and first responders. Digital transformation has been a major focus, with e-commerce sales exceeding $1 billion annually. The company has invested in new customer data platforms, AI-driven analytics, and mobile app functionality. The recent launch of Tractor Supply Pet Rx through the acquisition of Allivet represents a significant expansion into the pet prescription market, leveraging the growing pet care trend. Supply chain modernization has included opening new distribution centers, with the 10th facility opened in Arkansas in 2024. The company has also initiated store localization efforts using data-driven archetypes to optimize product assortments for regional preferences. Direct sales initiatives and final mile delivery capabilities are being developed to serve customers who cannot easily visit physical stores. Strategic partnerships have expanded the product portfolio, including a collaboration with Field & Stream to offer outdoor recreational products. The company has also focused on sustainability initiatives and supply chain diversification, particularly reducing dependence on Chinese suppliers from 90% to a targeted 50% by 2025 in response to tariff pressures.
TSCO company profile · for informational purposes only — not investment advice.
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