Tractor Supply Company (TSCO)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look first for a business I can understand and a price that leaves room for error. Tractor Supply is a rural lifestyle retailer; the filed figures show revenue of $15.5B in fiscal 2025, up from $14.6B in fiscal 2023, while net income stayed around $1.1B in fiscal 2023, fiscal 2024 and fiscal 2025, and diluted EPS moved only from $2.02 to $2.06. That is not a fast grower, and FairStock's computed Lynch category is SLOW GROWER, citing 7.9% annual revenue and profit growth over five years. The latest filed quarter, fiscal Q2 2026 ended 2026-06-27, had revenue of $4.5B, net income of $360.7M and diluted EPS of $0.69. Operationally, FairStock calculates ROE of 39.51%, a Piotroski F-score of 8/9, and positive TTM free cash flow of $307.0M. But ROCE is only 7.82%, D/E is 2.49, and FCF yield is 1.8%, so the high ROE is not all operating magic; leverage matters. I cannot prove a wide moat from these numbers; niche rural retailing may help, but a 7.82% ROCE is modest. At the $32.53 close on 2026-10-26, FairStock's P/E is 16.94 and P/B is 6.47. The Graham Number is $14.76, implying a -126.42% margin of safety, so on Graham's conservative terms the price is far above value. Altman Z at 2.62 is in the caution zone, and the FairStock Score is 52/100. My conclusion: an understandable, steady rural retailer with slow growth, leverage and a low FCF yield, leaving little obvious bargain at this price.

In plain English: Tractor Supply sells farm, pet, lawn and rural lifestyle products through stores in the United States. The business looks steady: revenue was $15.5 billion in fiscal 2025, profit has held near $1.1 billion, and returns on shareholder money are high, but it uses meaningful debt and growth has been slow. The shares look fair to slightly expensive against the company's profit and asset values.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-27) · fiscal Q1 2026 10-Q (period ended 2026-03-28) · fiscal Q4 2025 10-K (period ended 2025-12-27) · fiscal Q3 2025 10-Q (period ended 2025-09-27) · FY2025 10-K (period ended 2025-12-27) · FY2024 10-K (period ended 2024-12-28) · FY2023 10-K (period ended 2023-12-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer