Tractor Supply Company (TSCO) Stock

Tractor Supply Company (TSCO) is a Consumer Discretionary stock trading at $35.06 (as of 2026-08-20), with a market capitalization of $18.39B and a trailing P/E of 19.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Tractor Supply Company is a U.S. rural retailer selling merchandise for equine, livestock, pets and small animals, along with hardware and tools, seasonal home and outdoor products, work clothing and footwear, and agricultural and rural maintenance items. It operates Tractor Supply, Del’s Feed & Farm Supply, and Petsense stores (2,016 and 178 stores, respectively, as of June 25, 2022) and sells via TractorSupply.com and Petsense.com.

Understand Tractor Supply Company: how it makes money

Tractor Supply Company is a rural lifestyle retailer in the United States, selling merchandise for equine, livestock, pet, and small animals, plus rural hardware, seasonal items, work and recreational clothing, footwear, and maintenance products, and it makes money by selling this merchandise to customers.

As a retailer, its profit engine is earning gross margin on merchandise it sells, then covering operating costs to generate operating income (supported by its reported gross margin and operating margin).

Business quality (Mixed): Clear merchandise-led model with reported profitability metrics (gross margin and operating margin), but no segment breakdown and no provided operating KPIs limit how much an investor can track the underlying drivers beyond overall results.

Valuation: At 16× earnings, TSCO trades 19% below the Retail average (19×). Note: one-time items can distort reported P/E.

Bull case

Broad rural-focused assortment: Product categories span equine, livestock, pet and small animals, rural hardware and tools, seasonal items (including heating and lawn and garden), and work and recreational apparel, which supports multiple sources of merchandise demand within the rural lifestyle theme.
Profitability present in reported results: It reported a 36.2% gross margin and a 6.5% operating margin for the latest period provided.

Bear case

Seasonality risk: Because it sells seasonal products such as heating products and lawn and garden items, demand and buying patterns may vary across periods.
Operating leverage sensitivity: With operating income dependent on converting gross margin to operating margin, cost pressure or weaker merchandise performance could reduce operating margin (given the relationship implied by its reported gross and operating margins).

Valuation — source: SEC EDGAR (first-party)
Price	$35.06
Market Cap	$18.39B
P/E Ratio	19.4
EV / EBITDA	11.4
Price / Book	6.99
Price / Sales	1.19
FCF Yield	3.7%
DCF Value (model)	$43.15
DCF Upside vs Price	23.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$15.52B
Net Margin	7.1%
Revenue Growth (YoY)	4.3%
EPS Growth (YoY)	1.0%
FCF Growth (YoY)	16.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	4.25 (safe)
Piotroski F-Score	6/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	19.4
Sector P/E (Consumer Discretionary)	20.5
Industry P/E (Retail)	19.5
vs Sector	-5.4%
vs Industry	-0.8%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($3.39B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Consumer Discretionary
Industry	Retail
CEO	Harry A. Lawton
Employees	52,000
Country	US
IPO Date	1994-02-17

Related Companies (Business model: Brick-and-Mortar Retail (incl. Omnichannel); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.