0000916365-26-000014
SEC filingTractor Supply Company (TSCO) reported strong financial performance for fiscal year 2025, with net sales of $15.52 billion and net income of $1.10 billion. The company generated $5.65 billion in gross profit, representing a gross margin of 36.4%, and achieved operating income of $1.47 billion. Operating cash flow was robust at $1.64 billion, though free cash flow was not explicitly disclosed. The company maintained a solid balance sheet with total assets of $10.93 billion and stockholders' equity of $2.58 billion. Key activities included capital expenditures of $894.8 million, acquisition of Allivet for $139.9 million, and returning capital to shareholders through $487.7 million in dividends and $361.3 million in share repurchases. The company's performance demonstrates continued execution of its strategic priorities in the rural lifestyle retail sector.
Tractor Supply Company delivered solid financial results for fiscal year 2025, ending December 27, 2025. The company achieved net sales of $15.52 billion, with cost of merchandise sold totaling $9.87 billion, resulting in gross profit of $5.65 billion. Operating income reached $1.47 billion after accounting for selling, general and administrative expenses of $3.69 billion and depreciation and amortization of $494.0 million. Net income for the period was $1.10 billion, with basic and diluted earnings per share both at $2.00. The company maintained strong operating cash flow of $1.64 billion, which supported significant capital investments and shareholder returns. No prior period comparison figures were provided in the source data for year-over-year analysis.
The company reported net sales of $15.52 billion for fiscal year 2025. The document does not provide segment breakdowns, geographic mix, or specific growth drivers beyond the aggregate revenue figure. No information is disclosed regarding revenue by product category, customer segment, or geographic region. The acquisition of Allivet, completed for $139.9 million net of cash acquired, represents a strategic investment but no revenue contribution from this acquisition is separately quantified in the provided data. The company's revenue generation appears concentrated in its core rural lifestyle retail operations without disclosed diversification into multiple reporting segments.
Gross margin for fiscal year 2025 was 36.4%, calculated from gross profit of $5.65 billion on net sales of $15.52 billion. Operating margin was 9.5%, derived from operating income of $1.47 billion relative to net sales. The cost structure shows selling, general and administrative expenses represented 23.8% of revenue at $3.69 billion. Depreciation and amortization expenses totaled $494.0 million, or 3.2% of revenue. Interest expense, net was $69.1 million, representing 0.4% of revenue. The effective tax rate was 21.6%, calculated from income tax expense of $302.2 million on income before income taxes of $1.40 billion. No prior period margin comparisons are available from the provided data.
Operating activities generated $1.64 billion in cash flow, driven by net income of $1.10 billion adjusted for non-cash items including depreciation and amortization of $494.0 million. Investing activities used $778.6 million, primarily for capital expenditures of $894.8 million, partially offset by proceeds from sale of property and equipment of $256.1 million. Financing activities used $914.1 million, with significant items including $487.7 million in dividends paid, $361.3 million in share repurchases, and net debt repayments. The balance sheet shows total assets of $10.93 billion, with current assets of $3.51 billion including $194.1 million in cash and $3.08 billion in inventories. Total liabilities were $8.35 billion, including long-term debt of $1.76 billion and operating lease liabilities of $4.14 billion. Stockholders' equity stood at $2.58 billion.
The provided document content does not include management guidance, strategic priorities, or specific risk factors beyond the financial statements. No forward-looking statements, growth targets, or strategic initiatives are disclosed in the extracted financial data. The company's capital allocation decisions, as evidenced by the cash flow statement, indicate continued investment in property and equipment ($894.8 million), strategic acquisitions ($139.9 million for Allivet), and shareholder returns through dividends ($487.7 million) and share repurchases ($361.3 million). However, without explicit management commentary from the filing, no specific outlook information can be derived from the provided data regarding future performance expectations, market conditions, or strategic direction.