Morningstar Rating
Stock XNAS Rating as of
$268.25 +1.25(0.47%)
View Full ChartAs of Cboe BZX Real-Time Price Open
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Company Report
Company Report
Tractor Supply’s Continued Investment and Robust Loyalty Attracting Customers Amid Spending Hurdles
Jaime M Katz, Ari Felhandler
Tractor Supply is the largest consumer farm specialty retailer in the United States, surpassing $14.5 billion in sales in fiscal 2023. The firm has differentiated itself through its products and customer demographics, which provide underlying support to its brand intangible assets and wide economic moat. At the end of 2023, the store base had grown about 24% over the prior five-year period, to more than 2,400 locations, including 81 acquired locations from Orscheln and Petsense, driving sales and EPS compound annual growth rates over the past three years of 11% and 14%, respectively. We forecast that the firm will grow to over 3,200 stores by 2033 as it populates big-box centers in the western half of the US, with Petsense accounting for about 300 units.
Price vs Fair Value
Price vs Fair Value
TSCO is trading at a 724% premium.
Price
$267.00
Fair Value
$297.00
Uncertainty
Medium
- 1-Star Price
- $115.29
- 5-Star Price
- $625.30
- Economic Moat
- Bxdlt
- Capital Allocation
- Jmtrvnllw
Bulls Say, Bears Say
Bulls Say, Bears Say
Bulls
Tractor Supply has room for store growth, which should help it achieve high-single-digit EPS growth over the next decade (in line with the 8%-11% it expects). A quicker-than-expected rollout of side lot projects could lead to faster sales growth than we expect.
Bears
Competition is fierce throughout retail, and Tractor Supply will have to innovate to keep its market leadership position and ensure elevated brand relevance.
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News
News
- Tractor Supply Honors America’s Military Service Members, Veterans and First Responders With $1 Million Donation
- Tractor Supply Salutes America’s Military Service Members, Veterans and First Responders With Launch of Hometown Heroes Program
- Tractor Supply Garden Centers Reach Milestone 500 Locations
- Tractor Supply to Present at Upcoming Investor Conference
- Tractor Supply Recognized for Excellence in Customer Service
- Tractor Supply Foundation Donates More Than $150,000 to Support Relief Efforts in Wake of Severe Weather
- Tractor Supply’s Spring Paper Clover Campaign Raises Over $1.3 Million for 4-H Youth Nationwide
- Expion360 Announces New Online Retail Partnership with Tractor Supply Company
Trading Information
Trading Information
- Previous Close Price
- $267.00
- Day Range
$265.38–268.67
- 52-Week Range
$185.59–290.38
- Bid/Ask
- $268.08/$268.44
- Market Cap
- $28.92 Bil
- Volume/Avg
- 490,805/1.1 Mil
Key Statistics
Key Statistics
- Price/Earnings (Normalized)
- 26.88
- Price/Sales
- 1.99
- Dividend Yield (Trailing)
- 1.60%
- Dividend Yield (Forward)
- 1.65%
- Total Yield
- 3.39%
Company Profile
Company Profile
Tractor Supply is the largest operator of retail farm and ranch stores in the United States. The company targets recreational farmers and ranchers and has little exposure to commercial and industrial farm operations. Currently, the company operates 2,233 of its namesake banners in 49 states, including 81 Orscheln Farm and Home stores (rebranded as Tractor Supply), along with 202 Petsense by Tractor Supply stores. Stores are generally concentrated in rural communities, as opposed to urban and suburban areas. In fiscal 2023, revenue consisted primarily of livestock, equine & agriculture (27%), companion animal (25%), and seasonal & recreation (22%).
- Sector
- Consumer Cyclical
- Industry
- Specialty Retail
- Stock Style Box
- Mid Core
- Total Number of Employees
- 50,000
- Website
- https://www.tractorsupply.com
Competitors
Competitors
- Target Corp TGT
- Lowe's Companies Inc LOW
- The Home Depot Inc HD
Valuation
Valuation
| Metric | TSCO | TGT | LOW |
|---|---|---|---|
Price/Earnings (Normalized) | 26.88 | 16.52 | 17.60 |
Price/Book Value | 13.56 | 4.92 | — |
Price/Sales | 1.99 | 0.64 | 1.48 |
Price/Cash Flow | 19.40 | 8.96 | 12.66 |
Price/Earnings
TSCO
TGT
LOW
Financial Strength
Financial Strength
| Metric | TSCO | TGT | LOW |
|---|---|---|---|
Quick Ratio | 0.10 | 0.18 | 0.17 |
Current Ratio | 1.40 | 0.86 | 1.17 |
Interest Coverage | 32.75 | 12.52 | 7.32 |
Quick Ratio
TSCO
TGT
LOW
Profitability
Profitability
| Metric | TSCO | TGT | LOW |
|---|---|---|---|
Return on Assets (Normalized) | 12.33% | 7.99% | 16.74% |
Return on Equity (Normalized) | 54.41% | 34.30% | — |
Return on Invested Capital (Normalized) | 16.64% | 14.78% | 33.07% |
Return on Assets
TSCO
TGT
LOW
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Specialty Retail Industry Comparables
Specialty Retail Industry Comparables
| 1-Day Chart | Name | Price | Morningstar Rating for Stocks | Capital Allocation | Economic Moat | Market Cap |
|---|---|---|---|---|---|---|
| O'Reilly Automotive Inc ORLY | Sgrvbmxvf | Npm | $61.9 Bil | |||
| AutoZone Inc AZO | Lctkvcbl | Shrk | $50.0 Bil | |||
| Williams-Sonoma Inc WSM | Qnvzkzgd | Hrn | $19.1 Bil | |||
| Ulta Beauty Inc ULTA | Spszbhgc | Kffmqq | $18.5 Bil | |||
| Dick's Sporting Goods Inc DKS | Zxrxxply | Gncq | $18.4 Bil | |||
| Best Buy Co Inc BBY | Rchczzpc | Gdrwbg | $18.2 Bil | |||
| BBWI | Sxkqzgdsr | Vxwdyk | $8.9 Bil | |||
| RH Class A RH | Jkhhkpsp | Crqwc | $4.0 Bil | |||
| Advance Auto Parts Inc AAP | Dvl | Qrtw | $3.7 Bil |
