Company file · TSCO
Tractor Supply
Tractor Supply's revenue rose 4.3% in FY2025, to $15.5B, and net income fell 0.5% to $1.1B
Revenue rose 4.3% to $15.5B in FY2025, from $14.9B in FY2024. Net income fell 0.5% to $1.1B.
Key facts
In fiscal 2025, which ended Dec 27, 2025, Tractor Supply (Nasdaq: TSCO) took in $15.5B of revenue (up 4.3% on fiscal 2024); net income was $1.1B (down 0.5%). The most recent quarter, ended Sep 26, 2026, brought revenue of $3.9B, up 5.1% year over year, with net income of $225M. Sources: 10-K for fiscal 2025 (filed Feb 19, 2026) and 10-Q for the quarter ended Sep 26, 2026 (filed Nov 5, 2026).
Source: 10-K FY2025, filed Feb 19, 2026
Source: 10-Q filed May 7, 2026 · 10-Q filed Aug 6, 2026 · 10-Q filed Nov 5, 2026
How it makes money
Tractor Supply reported revenue of $15.5B for FY2025, and net income of $1.1B.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Tractor Supply 10-Q for the quarter ended Sep 26, 2026, filed Nov 5, 2026
The bull case and the bear case
The bull case
- Revenue rose 4.3% in FY2025 to $15.5B, from $14.9B a year earlier. 10-K, FY2025
- Operating cash flow rose 15.1% in FY2025 to $1.6B. 10-K, FY2025
- Diluted shares fell 1.4% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
- Total debt fell 3.7% in FY2025 to $1.8B. 10-K, FY2025
The bear case
- Net income fell 0.5% in FY2025 to $1.1B, from $1.1B. 10-K, FY2025
- Net income in the quarter ended Sep 26, 2026 was $225M, down 13.3% on a year earlier. 10-Q, quarter ended Sep 26, 2026
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include consumer spending; competition; costs. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Tractor Supply is in the other specialty retail industry, part of the consumer discretionary sector. The SEC files it under Retail-Building Materials, Hardware, Garden Supply.
The full description of Tractor Supply's business is in Item 1 of its 10-K, linked below. This page shows its revenue in total only, because its tagged data has no breakdown that adds up to total revenue.
Its fiscal year ends in December; the latest, FY2025, ended Dec 27, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the other specialty retail industry. They are not a summary of Tractor Supply’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Consumer spendingShoppers cut back on non-essentials when budgets are tight.
- CompetitionRivals, online sellers and changing tastes pressure prices and traffic.
- CostsWages, freight and product costs can squeeze margins.
- Supply chain and tariffsImported goods make it sensitive to trade policy and shipping disruptions.
- Brand and reputationProduct problems or public criticism can hurt demand.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $14.6B | $14.9B | $15.5B |
| Net income | $1.1B | $1.1B | $1.1B |
| Operating cash flow | $1.3B | $1.4B | $1.6B |
| Cash & equivalents (year end) | $397M | $251M | $194M |
| Total debt (year end) | $1.7B | $1.8B | $1.8B |
| Diluted shares | 549M | 540M | 532M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Segment reporting
- Discontinued operations
- Pension obligations
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
What we left out
- Revenue by segment, product or region: the company's XBRL data has no breakdown that adds up to total revenue, so none is shown. The 10-K has its own segment note.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Nov 5, 2026 | Sep 26, 2026 |
| 10-Q | Aug 6, 2026 | Jun 27, 2026 |
| 10-Q | May 7, 2026 | Mar 28, 2026 |
| DEF 14A | Mar 26, 2026 | May 14, 2026 |
| 10-K | Feb 19, 2026 | Dec 27, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Tractor Supply
How does Tractor Supply make money?
In fiscal 2025, revenue totaled $15.5B. Tractor Supply reported revenue of $15.5B for FY2025, and net income of $1.1B. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
What was Tractor Supply's revenue in fiscal 2025?
Revenue came to $15.5B in the year ended Dec 27, 2025. Going back two years, it was $14.6B in fiscal 2023 and $14.9B in fiscal 2024, so the latest year was up 4.3%. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
Is Tractor Supply profitable?
Yes, by US accounting rules (GAAP): net income was $1.1B in fiscal 2025, down 0.5% from $1.1B a year earlier. For the quarter ended Sep 26, 2026, net income was $225M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 19, 2026.
What did Tractor Supply report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 26, 2026 shows revenue of $3.9B, against $3.7B in the same quarter a year before (up 5.1%), and net income of $225M, against $259M (down 13.3%). Source: 10-Q for the quarter ended Sep 26, 2026, filed Nov 5, 2026.
How much cash and debt does Tractor Supply have?
On Sep 26, 2026, cash and cash equivalents stood at $199M and total debt at $2.2B. Total debt here is long-term debt, at carrying value. Source: 10-Q filed Nov 5, 2026.
What are the main risks Tractor Supply faces?
Tractor Supply's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 19, 2026. Risks that are common among companies in the other specialty retail industry include Consumer spending; competition; costs; supply chain and tariffs; brand and reputation. The first: Shoppers cut back on non-essentials when budgets are tight. Source: 10-K, Item 1A Risk Factors.
Where do these Tractor Supply numbers come from?
Two filings Tractor Supply made with the SEC: its fiscal 2025 10-K, filed Feb 19, 2026, and its 10-Q for the quarter ended Sep 26, 2026, filed Nov 5, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Tractor Supply
- Citadel Advisors: 2,289,816 shares, reported value $72.4M at Jun 30, 2026 (+189.7% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Point72 Asset Management: 841,741 shares, reported value $26.6M at Jun 30, 2026 (+1,005.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Millennium Management: 435,200 shares, reported value $13.8M at Jun 30, 2026 (−49.9% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Two Sigma Investments: 299,024 shares, reported value $9.5M at Jun 30, 2026 (+912.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 32,944 shares, reported value $1.0M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in TSCO
- The editor holds no position in Tractor Supply (TSCO). As of Nov 11, 2026. The editor holds shares of Tesla (TSLA) and SpaceX in a long-term retirement account.
- Trading rule
- The editor does not buy or sell TSCO from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 10, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold TSCO, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Tractor SupplyTSCO | FY2025 | $15.5B | +4.3% | $1.1B |
| Ulta BeautyULTA | FY2025 | $12.4B | +9.7% | $1.2B |
| AmazonAMZN | FY2025 | $716.9B | +12.4% | $77.7B |
| TeslaTSLA | FY2025 | $94.8B | −2.9% | $3.8B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.