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Tractor Supply Company (the Company or Tractor Supply or we or our or us ) is the largest rural lifestyle retailer in the United States ( U.S. ). The Company is focused on supplying the needs of recreational farmers, ranchers, and all those who enjoy living the rural lifestyle (which we refer to as the Out Here lifestyle).
$30.57
+$0.08 (+0.26%)
Price from 19 days ago
Operating margin is thin at 9.45%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 4.3%, steady but not accelerating.
Net debt of $5.75B represents 7.8x FCF, leverage limits flexibility.
15.1x earnings, 29.2x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$15.65B
▲ +4.3% YoY
Net Income (TTM)
$1.08B
▼ -0.5% YoY
Op. Margin
9.28%
▼ -0.4pp YoY
ROIC
13.61%
▼ -1.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$554M
▲ +16.3% YoY
Op. Cash Flow (TTM)
$1.51B
▲ +15.1% YoY
Net Debt
$6.18B
Cash & Equiv.
$224M
5Y CAGR: +7.9%
5Y CAGR: -7.6%
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