TRACTOR SUPPLY CO /DE/
TSCO · Retail-Building Materials, Hardware, Garden Supply · 524.4M shares · +46%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $537M (gross $594M, SBC $57M)
Reference price $55.37 · est. market cap ~$29.0B — last insider sale, 2026-02-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A85Category-leading rural-lifestyle retailer with a defensible niche, top-decile returns and consistent compounding growth.
Strengths
- Top-decile returns (ROE 42%/87th, ROA 10%/89th) and strong interest coverage (21x/90th) plus robust FCF ($740M/88th)
- Durable scaled franchise (2,602 stores, ~7.9% sales CAGR) with needs-based assortment and store growth runway
Risks
- Thin quick ratio (0.16/9th pct) and modest comps (1.2%) leave little liquidity cushion and slowing top-line
- Some leverage (D/E 0.68/69th) and exposure to discretionary/seasonal demand
Notable findings
- RestatementThe Certificate of Amendment to the Company’s Restated Certificate of Incorporation filed on December 19, 2024 effected the Stock Split and also proportionately increased the number of authorized comm 8-K ↗
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~36% of revenue from one customer/distributor — 40 billion in fiscal 2024, and gross margin increased 16 basis points to 36
- Chronic dilutionShare count +46%/yr over 4y (dilution, book value/share -72%)
- Strong balance sheetStrong balance sheet — $194M cash & investments
- Insider sellingInsider selling — 8 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$12M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
36.4%
Operating margin
9.5%
Net margin
7.1%
Return on equity
42.5%
Return on assets
10.0%
ROIC
26.7%
Revenue growth (QoQ)
-7.9%
Net-income growth
-0.5%
Debt / equity
0.7×
Net debt / EBITDA
0.8×
Interest coverage
21.2×
Current ratio
1.3×
Free cash flow
$740M
EBITDA
$2.0B
Tangible book value
$2.2B
Cash & investments
$194M
Stock comp / revenue
0.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-14 | Krishnan Ramkumar | Grant | 5.7K | — |
| 2026-05-14 | Brown Joy | Grant | 5.7K | — |
| 2026-05-14 | Cardenas Ricardo | Grant | 5.7K | — |
| 2026-05-14 | Ham Margaret M | Grant | 5.7K | — |
| 2026-05-14 | Weikel Mark J | Grant | 5.7K | — |
| 2026-05-14 | Syngal Sonia | Grant | 5.7K | — |
| 2026-05-14 | Hawaux Andre J | Grant | 5.7K | — |
| 2026-05-14 | Jackson Denise L | Grant | 5.7K | — |
| 2026-05-14 | MORRIS EDNA | Grant | 9.2K | — |
| 2026-04-01 | Ham Margaret M | Grant | 290 | $45.30 |
| 2026-04-01 | Krishnan Ramkumar | Grant | 579 | $45.30 |
| 2026-02-13 | Yankee Colin | Sell | 4.7K | $55.37 |
| 2026-02-13 | Yankee Colin | Option exercise | 5.7K | $46.59 |
| 2026-02-13 | Yankee Colin | Sell | 5.7K | $55.33 |
| 2026-02-13 | Yankee Colin | Option exercise | 5.5K | $46.55 |
| 2026-02-13 | Yankee Colin | Sell | 781 | $55.38 |
| 2026-02-12 | Estep Jonathan S | Tax withheld | 804 | $54.06 |
| 2026-02-12 | Gardiner Kimberley S. | Tax withheld | 315 | $54.06 |
| 2026-02-12 | Kersey Melissa | Tax withheld | 557 | $54.06 |
| 2026-02-12 | Yankee Colin | Tax withheld | 588 | $54.06 |
| 2026-02-12 | Ordus John P | Tax withheld | 680 | $54.06 |
| 2026-02-12 | Barton Kurt D | Tax withheld | 967 | $54.06 |
| 2026-02-12 | Lawton III Harry A | Tax withheld | 5.7K | $54.06 |
| 2026-02-12 | Mills Robert D | Tax withheld | 866 | $54.06 |
| 2026-02-11 | Estep Jonathan S | Option exercise | 60K | $28.64 |
| 2026-02-11 | Mills Robert D | Option exercise | 35K | $28.64 |
| 2026-02-11 | Mills Robert D | Option exercise | 28K | $44.39 |
| 2026-02-11 | Mills Robert D | Sell | 63K | $54.12 |
| 2026-02-11 | Estep Jonathan S | Sell | 60K | $54.03 |
| 2026-02-10 | Barton Kurt D | Grant | 11K | — |
| 2026-02-10 | Barton Kurt D | Sell | 1.9K | $53.81 |
| 2026-02-10 | Lawton III Harry A | Grant | 47K | — |
| 2026-02-10 | Mills Robert D | Grant | 7.2K | — |
| 2026-02-10 | Gardiner Kimberley S. | Grant | 3.3K | — |
| 2026-02-10 | Syngal Sonia | Grant | 781 | — |
| 2026-02-10 | Kersey Melissa | Grant | 5.3K | — |
| 2026-02-10 | Yankee Colin | Grant | 7.2K | — |
| 2026-02-10 | Estep Jonathan S | Grant | 7.2K | — |
| 2026-02-10 | Ordus John P | Grant | 6.3K | — |
| 2026-02-08 | Estep Jonathan S | Tax withheld | 360 | $54.38 |
| 2026-02-08 | Kersey Melissa | Tax withheld | 607 | $54.74 |
| 2026-02-08 | Yankee Colin | Tax withheld | 609 | $54.74 |
| 2026-02-08 | Ordus John P | Tax withheld | 596 | $54.74 |
| 2026-02-08 | Barton Kurt D | Tax withheld | 901 | $54.74 |
| 2026-02-08 | Lawton III Harry A | Tax withheld | 6.2K | $54.74 |
| 2026-02-08 | Mills Robert D | Tax withheld | 1.4K | $54.74 |
| 2026-02-06 | Barton Kurt D | Sell | 1.9K | $53.94 |
| 2026-02-05 | Yankee Colin | Tax withheld | 665 | $54.80 |
| 2026-02-05 | Estep Jonathan S | Tax withheld | 550 | $54.80 |
| 2026-02-05 | Ordus John P | Tax withheld | 748 | $54.80 |
| 2026-02-05 | Barton Kurt D | Tax withheld | 1.1K | $54.80 |
| 2026-02-05 | Lawton III Harry A | Tax withheld | 6.4K | $54.80 |
| 2026-02-05 | Mills Robert D | Tax withheld | 1.1K | $54.80 |
| 2026-02-05 | Kersey Melissa | Tax withheld | 665 | $54.80 |
| 2026-02-03 | Lawton III Harry A | Sell | 85K | $53.16 |
| 2026-01-01 | Ham Margaret M | Grant | 262 | $50.01 |
| 2026-01-01 | Krishnan Ramkumar | Grant | 525 | $50.01 |
| 2026-01-01 | Weikel Mark J | Grant | 685 | $50.01 |
| 2025-11-14 | McKee Noni Ellison | Gift | 900 | — |
| 2025-11-05 | Lawton III Harry A | Grant | 160K | — |
| 2025-10-01 | Ham Margaret M | Grant | 462 | $56.87 |
| 2025-10-01 | Krishnan Ramkumar | Grant | 462 | $56.87 |
| 2025-08-13 | Kersey Melissa | Sell | 6.3K | $59.78 |
| 2025-08-07 | Weikel Mark J | Sell | 8.0K | $59.92 |
| 2025-07-28 | Yankee Colin | Option exercise | 6.7K | $44.39 |
| 2025-07-28 | Yankee Colin | Sell | 6.1K | $58.40 |
| 2025-07-28 | Yankee Colin | Sell | 600 | $58.41 |
| 2025-07-24 | Ellison Noni L | Sell | 5.2K | $63.96 |
| 2025-07-24 | Barton Kurt D | Option exercise | 90K | $13.46 |
| 2025-07-24 | Barton Kurt D | Sell | 90K | $63.96 |
| 2025-07-22 | Jackson Denise L | Sell | 1.2K | $58.50 |
| 2025-07-10 | Jackson Denise L | Sell | 1.0K | $57.50 |
| 2025-07-10 | Jackson Denise L | Sell | 1.0K | $58.00 |
| 2025-07-09 | Jackson Denise L | Sell | 1.0K | $57.00 |
| 2025-07-07 | Jackson Denise L | Sell | 1.0K | $56.50 |
| 2025-07-07 | Jackson Denise L | Sell | 1.6K | $55.50 |
| 2025-07-07 | Jackson Denise L | Sell | 2.0K | $56.00 |
| 2025-07-07 | Estep Jonathan S | Option exercise | 36K | $17.92 |
| 2025-07-07 | Estep Jonathan S | Sell | 36K | $56.00 |
| 2025-07-02 | Jackson Denise L | Sell | 1.6K | $55.00 |
| 2025-07-01 | Ham Margaret M | Grant | 497 | $52.77 |
| 2025-07-01 | Krishnan Ramkumar | Grant | 497 | $52.77 |
| 2025-06-23 | Estep Jonathan S | Sell | 57K | $53.00 |
| 2025-06-23 | Estep Jonathan S | Option exercise | 57K | $18.22 |
| 2025-05-14 | MORRIS EDNA | Grant | 5.2K | — |
| 2025-05-14 | Rubin Matthew L. | Grant | 745 | — |
| 2025-05-14 | Weikel Mark J | Grant | 3.2K | — |
| 2025-05-14 | Cardenas Ricardo | Grant | 3.2K | — |
| 2025-05-14 | Hawaux Andre J | Grant | 3.2K | — |
| 2025-05-14 | Jackson Denise L | Grant | 3.2K | — |
| 2025-05-14 | Ham Margaret M | Grant | 3.2K | — |
| 2025-05-14 | Krishnan Ramkumar | Grant | 3.2K | — |
| 2025-05-14 | Rubin Matthew L. | Sell | 2.8K | $51.76 |
| 2025-05-14 | Brown Joy | Grant | 3.2K | — |
| 2025-04-01 | Ham Margaret M | Grant | 476 | $55.10 |
| 2025-04-01 | Krishnan Ramkumar | Grant | 476 | $55.10 |
| 2025-02-20 | Rubin Matthew L. | Option exercise | 5.8K | $28.64 |
| 2025-02-20 | Rubin Matthew L. | Sell | 3.9K | $57.69 |
| 2025-02-13 | Barton Kurt D | Sell | 12K | $56.00 |
| 2025-02-12 | Estep Jonathan S | Grant | 6.1K | — |
| 2025-02-12 | Yankee Colin | Grant | 2.7K | — |
| 2025-02-12 | Yankee Colin | Grant | 4.5K | — |
| 2025-02-12 | Ordus John P | Grant | 2.7K | — |
| 2025-02-12 | Ordus John P | Tax withheld | 649 | $54.48 |
| 2025-02-12 | Ordus John P | Grant | 5.2K | — |
| 2025-02-12 | Rubin Matthew L. | Grant | 1.2K | — |
| 2025-02-12 | Rubin Matthew L. | Tax withheld | 336 | $54.48 |
| 2025-02-12 | Rubin Matthew L. | Grant | 2.4K | — |
| 2025-02-12 | Kersey Melissa | Grant | 2.7K | — |
| 2025-02-12 | Kersey Melissa | Tax withheld | 649 | $54.48 |
| 2025-02-12 | Kersey Melissa | Grant | 4.2K | — |
| 2025-02-12 | Ellison Noni L | Grant | 1.7K | — |
| 2025-02-12 | Ellison Noni L | Tax withheld | 405 | $54.48 |
| 2025-02-12 | Ellison Noni L | Grant | 3.5K | — |
| 2025-02-12 | Yankee Colin | Tax withheld | 649 | $54.48 |
| 2025-02-12 | Mills Robert D | Grant | 3.7K | — |
| 2025-02-12 | Mills Robert D | Tax withheld | 892 | $54.48 |
| 2025-02-12 | Mills Robert D | Grant | 6.6K | — |
| 2025-02-12 | Lawton III Harry A | Grant | 23K | — |
| 2025-02-12 | Lawton III Harry A | Tax withheld | 9.2K | $54.48 |
| 2025-02-12 | Lawton III Harry A | Grant | 44K | — |
| 2025-02-12 | Barton Kurt D | Grant | 6.7K | — |
| 2025-02-12 | Barton Kurt D | Tax withheld | 1.6K | $54.48 |
| 2025-02-12 | Barton Kurt D | Grant | 9.0K | — |
| 2025-02-12 | Gardiner Kimberley S. | Grant | 1.9K | — |
| 2025-02-12 | Gardiner Kimberley S. | Tax withheld | 574 | $54.48 |
| 2025-02-12 | Gardiner Kimberley S. | Grant | 3.2K | — |
| 2025-02-12 | Estep Jonathan S | Grant | 2.7K | — |
| 2025-02-12 | Estep Jonathan S | Tax withheld | 649 | $54.48 |
| 2025-02-11 | Yankee Colin | Option exercise | 5.5K | $46.55 |
| 2025-02-11 | Yankee Colin | Option exercise | 5.7K | $46.59 |
| 2025-02-11 | Yankee Colin | Sell | 25K | $54.15 |
| 2025-02-09 | Kersey Melissa | Tax withheld | 399 | $52.95 |
| 2025-02-09 | Ordus John P | Tax withheld | 399 | $52.95 |
| 2025-02-09 | Lawton III Harry A | Tax withheld | 5.4K | $52.95 |
| 2025-02-09 | Ellison Noni L | Tax withheld | 253 | $52.95 |
| 2025-02-09 | Estep Jonathan S | Tax withheld | 400 | $52.95 |
| 2025-02-09 | Mills Robert D | Tax withheld | 522 | $52.95 |
| 2025-02-09 | Yankee Colin | Tax withheld | 401 | $52.95 |
| 2025-02-09 | Barton Kurt D | Tax withheld | 951 | $52.95 |
| 2025-02-09 | Rubin Matthew L. | Tax withheld | 203 | $52.95 |
| 2025-02-08 | Yankee Colin | Tax withheld | 440 | $52.95 |
| 2025-02-08 | Mills Robert D | Tax withheld | 346 | $52.95 |
| 2025-02-08 | Mills Robert D | Tax withheld | 591 | $52.95 |
| 2025-02-08 | Kersey Melissa | Tax withheld | 440 | $52.95 |
| 2025-02-08 | Ordus John P | Tax withheld | 440 | $52.95 |
| 2025-02-08 | Lawton III Harry A | Tax withheld | 5.9K | $52.95 |
| 2025-02-08 | Barton Kurt D | Tax withheld | 766 | $52.95 |
| 2025-02-08 | Ellison Noni L | Tax withheld | 377 | $52.95 |
| 2025-02-08 | Estep Jonathan S | Tax withheld | 440 | $52.95 |
| 2025-02-08 | Rubin Matthew L. | Tax withheld | 193 | $52.95 |
| 2025-02-08 | Ellison Noni L | Tax withheld | 105 | $52.95 |
| 2025-02-06 | Kersey Melissa | Sell | 591 | $53.16 |
| 2025-02-06 | Kersey Melissa | Sell | 8.7K | $53.17 |
| 2025-02-05 | Yankee Colin | Tax withheld | 442 | $54.31 |
| 2025-02-05 | Rubin Matthew L. | Tax withheld | 276 | $54.31 |
| 2025-02-05 | Lawton III Harry A | Tax withheld | 4.0K | $54.31 |
| 2025-02-05 | Barton Kurt D | Tax withheld | 840 | $54.31 |
| 2025-02-05 | Kersey Melissa | Tax withheld | 442 | $54.31 |
| 2025-02-05 | Estep Jonathan S | Tax withheld | 551 | $54.31 |
| 2025-02-05 | Ellison Noni L | Tax withheld | 382 | $54.31 |
| 2025-02-05 | Ordus John P | Tax withheld | 497 | $54.31 |
| 2025-02-05 | Mills Robert D | Tax withheld | 721 | $54.31 |
| 2025-02-03 | Lawton III Harry A | Sell | 88K | $54.59 |
| 2025-01-01 | Ham Margaret M | Grant | 495 | $53.06 |
| 2025-01-01 | Krishnan Ramkumar | Grant | 495 | $53.06 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-28 | OtherExhibits | filing ↗ |
| 2026-05-21 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-05-15 | Exec/director change | filing ↗ |
| 2026-05-15 | Shareholder voteOther | filing ↗ |
| 2026-05-14 | OtherExhibits | filing ↗ |
| 2026-04-21 | ResultsExhibits | filing ↗ |
| 2026-02-11 | Exec/director changeOtherExhibits | filing ↗ |
| 2026-01-29 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-28 | 2026-05-28 | 0000916365-26-000046 ↗ |
| 8-K | 2026-05-21 | 2026-05-19 | 0000916365-26-000039 ↗ |
| 8-K/A | 2026-05-15 | 2026-02-10 | 0000916365-26-000034 ↗ |
| 8-K | 2026-05-15 | 2026-05-14 | 0000916365-26-000033 ↗ |
| 8-K | 2026-05-14 | 2026-05-13 | 0000916365-26-000028 ↗ |
| 10-Q | 2026-05-07 | 2026-03-28 | 0000916365-26-000024 ↗ |
| 8-K | 2026-04-21 | 2026-04-21 | 0000916365-26-000020 ↗ |
| 10-K | 2026-02-19 | 2025-12-27 | 0000916365-26-000014 ↗ |
| 8-K | 2026-02-11 | 2026-02-10 | 0000916365-26-000009 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0000916365-26-000005 ↗ |
| 10-Q | 2025-11-06 | 2025-09-27 | 0000916365-25-000163 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0000916365-25-000161 ↗ |