Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Tractor Supply Company (TSCO) delivered modest FY2025 revenue growth of 4.3% to $15.5B, but net income slipped 0.5% to $1.10B as SG&A expenses rose 6.1%, compressing operating margins slightly while strong operating cash flow of $1.64B supported continued dividends and share buybacks.
Revenue
$15.52B
+4.31% YoY
EPS (Diluted)
$2.06
+0.98% YoY
Gross Margin
36.4%
+0.2 pts YoY
Operating Income
$1.47B
-0.01% YoY
Source: SEC XBRL
Tractor Supply (TSCO) reported FY2025 revenue of $15.52B, up 4.3% year over year. Operating margin was 9.5%, down 0.4 points from 9.9% a year earlier. Operating cash flow was $1.64B, up 15.1% year over year.
Last 4 quarters: 0 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.81 | 0.83 | Miss -2.6% |
| Mar 2026 | 0.31 | 0.35 | Miss -11.2% |
| Dec 2025This filing | 0.43 | 0.47 | Miss -8.9% |
| Sep 2025 | 0.49 | 0.49 | Miss -0.4% |
Reported EPS of $0.43 versus the $0.47 analyst consensus — a -8.9% miss for Dec 2025.
Compiled by AI from this SEC filing
Total revenue grew 4.3% year-over-year to $15.52B in FY2025, up from $14.88B in the prior year, reflecting continued store network expansion and incremental comparable store sales gains. The company's life-out-here lifestyle positioning continues to attract its core rural and suburban customer base.
Source: 10-K Income Statement (XBRL Financial Data)
Selling, General & Administrative expenses rose 6.1% to $3.69B, outpacing revenue growth of 4.3%, which caused operating margin to compress by approximately 40 basis points to 9.45% from 9.86% in the prior year. This cost pressure reflects ongoing investments in labor, technology, and store operations.
Source: 10-K Income Statement (XBRL Financial Data)
Gross margin improved modestly by approximately 16 basis points to 36.42% from 36.26%, suggesting effective merchandise cost management and favorable product mix, even as cost of revenue rose 4.0% to $9.87B.
Source: 10-K Income Statement & Key Ratios (XBRL Financial Data)
Operating cash flow surged 15.1% to $1.64B, enabling the company to pay $487.7M in dividends (up 3.2%) and repurchase $361.3M in shares, though buyback activity declined 35.6% versus the prior year, suggesting a more conservative capital allocation posture.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Total assets grew 11.5% to $10.93B, but total liabilities also increased 10.8% to $8.35B, resulting in a debt-to-equity ratio of 3.24x. Cash and equivalents declined 22.8% to $194.1M, indicating tighter near-term liquidity even as the current ratio remains above 1.0 at 1.34x.
Source: 10-K Balance Sheet (XBRL Financial Data)
Compiled by AI from this SEC filing · 1 high, 3 medium, 1 low
SG&A expenses grew 6.1% in FY2025 versus revenue growth of 4.3%, creating operating margin compression of ~40 basis points. If labor costs, technology investments, or store operating expenses continue to rise faster than top-line growth, profitability could deteriorate further.
Source: 10-K Income Statement (XBRL Financial Data)
Cash and equivalents fell 22.8% to $194.1M in FY2025, while current liabilities rose 12.7% to $2.61B. Although the current ratio of 1.34x remains above 1.0, the shrinking cash buffer could limit financial flexibility in the event of an economic downturn or unexpected capital needs.
Source: 10-K Balance Sheet (XBRL Financial Data)
The debt-to-equity ratio stands at 3.24x, reflecting significant financial leverage. While long-term debt remained flat at $150M, total liabilities of $8.35B against stockholders' equity of $2.58B leaves the company exposed to interest rate risk and refinancing challenges if credit conditions tighten.
Source: 10-K Balance Sheet & Key Ratios (XBRL Financial Data)
Share repurchases declined sharply by 35.6% to $361.3M in FY2025, down from $560.6M in the prior year. This reduction may signal management's caution around cash deployment or competing capital priorities, which could disappoint investors who rely on buybacks as a return mechanism.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Despite a 4.3% increase in revenue, net income fell 0.5% to $1.10B in FY2025, indicating that cost growth is absorbing incremental revenue gains. If this trend persists, earnings power could erode even in a growing top-line environment.
Source: 10-K Income Statement (XBRL Financial Data)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 15.52 $B | 14.88 $B | +4.31% |
Cost of Revenue $B | 9.87 $B | 9.49 $B | +4.04% |
Gross Profit $B | 5.65 $B | 5.40 $B | +4.78% |
Operating Income $B | 1.47 $B | 1.47 $B | -0.01% |
Net Income $B | 1.10 $B | 1.10 $B | -0.47% |
EPS (Basic) $ | 2.07 $ | 2.05 $ | +0.98% |
EPS (Diluted) $ | 2.06 $ | 2.04 $ | +0.98% |
SG&A Expense $B | 3.69 $B | 3.48 $B | +6.07% |
Answers draw on this SEC filing and the data on this page
Tractor Supply's Q2 FY2026 revenue edged up 2.3% to $4.54 billion, but a 1.5% comparable store sales decline and one-time charges pushed GAAP net income down 16.1%, while adjusted EPS held flat at $0.81.
TSCO reported Q1 FY2026 revenue growth of 3.6% to $3.59B, but profitability declined with net income falling 8.3% to $164.5M as SG&A expenses surged 6.2%, compressing operating and net margins.
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