TRACTOR SUPPLY CO DE（TSCO）の決算・業績分析
TRACTOR SUPPLY CO DEの2025年有価証券報告書をAI分析。売上高$15.5B(+4.3%)。営業利益$1.5B。Consumer Discretionary。
目次
TRACTOR SUPPLY CO DEの2025年度 業績サマリー
TRACTOR SUPPLY CO DE（証券コード: TSCO）の2025年度決算・業績分析。売上高は$15.5B（前年比+4.3%）。営業利益は$1.5B（前年比-0.0%）。純利益は$1.1B（前年比-0.5%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
TRACTOR SUPPLY CO DEの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 11.6% YoY to $14.2B (XBRL), driven by store expansion and customer engagement strategies (10-K).
- Net income increased 9.2% YoY to $1.1B (XBRL), with ROE of 54.4% (XBRL) reflecting strong equity returns.
- Shareholder returns totaled $1.1B via dividends ($410M) and buybacks ($700M) (XBRL).
- Operating margin expanded to 10.1% (XBRL), outpacing revenue growth (11.6% YoY).
- Net debt-to-EBITDA ratio was 0.8x (XBRL), indicating disciplined capital structure management.
TRACTOR SUPPLY CO DEの売上高変化の要因
- •Total revenue reached $14.2B (XBRL), up 11.6% YoY. Growth was driven by store expansion (2,502 stores as of FY2024) and customer engagement strategies targeting the 'Out Here' lifestyle (10-K). Segment-specific revenue figures are not disclosed in XBRL or 10-K data (N/A). Historical revenue growth averaged 13.0% CAGR over 5 years (XBRL).
TRACTOR SUPPLY CO DEの営業利益変化の要因
- •Gross profit was $5.0B (XBRL) with a 35.0% gross margin (XBRL). Operating income rose 9.8% YoY to $1.4B (XBRL), achieving a 10.1% operating margin (XBRL). Net income grew 9.2% YoY to $1.1B (XBRL), with a 7.7% net margin (XBRL). Historical operating income CAGR was 16.1% over 5 years (XBRL).
TRACTOR SUPPLY CO DEの事業リスクと対応
Reputation damage could harm brand value and reduce revenue (10-K).
Inability to increase sales at existing stores due to competition, supply chain issues, and changing consumer preferences (10-K).
Failed merchandising/marketing initiatives may lead to inventory overstocking and reduced profitability (10-K).
Delayed response to consumer trends could harm customer relationships and market share (10-K).
Supply chain disruptions and inventory shortages may negatively impact financial performance (10-K).
Failure to comply with regulatory standards (data privacy, environmental, labor, etc.) could damage reputation (10-K).
Competition from online retailers and proximity to competitors could reduce sales and market share (10-K).
TRACTOR SUPPLY CO DEの事業内容
Tractor Supply Co. operates as the largest rural lifestyle retailer in the U.S., selling agricultural, pet, and rural lifestyle products through physical stores, online platforms, and mobile apps (10-K). Key segments include Tractor Supply Company (general rural products) and Petsense by Tractor Supply (pet supplies). The company targets recreational farmers, ranchers, and pet owners in rural areas with above-average income and below-average cost of living (10-K). Competitive advantages include focused product assortment, omnichannel retailing, and store layouts designed for convenience (10-K).
TRACTOR SUPPLY CO DEのAI業績分析レポート（2024年度）
Tractor Supply Co. (TSCO) FY2024 Annual Report Analysis
Highlights
Business Overview
Tractor Supply Co. operates as the largest rural lifestyle retailer in the U.S., selling agricultural, pet, and rural lifestyle products through physical stores, online platforms, and mobile apps (10-K). Key segments include Tractor Supply Company (general rural products) and Petsense by Tractor Supply (pet supplies). The company targets recreational farmers, ranchers, and pet owners in rural areas with above-average income and below-average cost of living (10-K). Competitive advantages include focused product assortment, omnichannel retailing, and store layouts designed for convenience (10-K).
Revenue Analysis
Total revenue reached $14.2B (XBRL), up 11.6% YoY. Growth was driven by store expansion (2,502 stores as of FY2024) and customer engagement strategies targeting the 'Out Here' lifestyle (10-K). Segment-specific revenue figures are not disclosed in XBRL or 10-K data (N/A). Historical revenue growth averaged 13.0% CAGR over 5 years (XBRL).
Profitability Analysis
Gross profit was $5.0B (XBRL) with a 35.0% gross margin (XBRL). Operating income rose 9.8% YoY to $1.4B (XBRL), achieving a 10.1% operating margin (XBRL). Net income grew 9.2% YoY to $1.1B (XBRL), with a 7.7% net margin (XBRL). Historical operating income CAGR was 16.1% over 5 years (XBRL).
Balance Sheet Analysis
Equity ratio was 21.8% (XBRL), with total equity of $2.0B (XBRL). Long-term debt stood at $1.7B (XBRL), resulting in a net debt-to-EBITDA ratio of 0.8x (XBRL). Current ratio was 1.50x (XBRL), and cash reserves totaled $397M (XBRL).
Cash Flow Analysis
Operating cash flow was $1.4B (XBRL), matching net income. Free cash flow (FCF) was $584M (XBRL), calculated as operating cash flow ($1.4B) minus CapEx ($773M). Capital expenditures totaled $773M (XBRL), with $410M in dividends paid (XBRL) and $700M in share repurchases (XBRL).
Working Capital Analysis
N/A
Risks
Outlook
N/A
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 7.9B | 8.4B | 12.7B | 12.7B | 14.2B | 14.6B |
| Operating Income | 702M | 743M | 997M | 1.3B | 1.4B | 1.5B |
| Net Income | 532M | 562M | 749M | 997M | 1.1B | 1.1B |
| Total Assets | 5.3B | 7.0B | 7.8B | 8.5B | 9.2B | 9.8B |
| Total Equity | 1.4B | 1.6B | 1.6B | 1.9B | 2.0B | 2.0B |
| Operating Cash Flow | 694M | 812M | 1.4B | 1.1B | 1.4B | 1.3B |
Consumer Discretionaryの企業一覧
TRACTOR SUPPLY CO DEと同じ「Consumer Discretionary」セクターの企業