Tractor Supply Company
Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; companion animal products, such as food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products compris… Read more
Tractor Supply Company (TSCO) - Net Assets
Latest net assets as of December 2025: $2.58 Billion USD
Based on the latest financial reports, Tractor Supply Company (TSCO) has net assets worth $2.58 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($10.93 Billion) and total liabilities ($8.35 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.58 Billion |
| % of Total Assets | 23.61% |
| Annual Growth Rate | 15.86% |
| 5-Year Change | 28.89% |
| 10-Year Change | 77.63% |
| Growth Volatility | 36.93 |
Tractor Supply Company - Net Assets Trend (1993–2025)
This chart illustrates how Tractor Supply Company's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tractor Supply Company (1993–2025)
The table below shows the annual net assets of Tractor Supply Company from 1993 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $2.58 Billion | +13.70% |
| 2024-12-31 | $2.27 Billion | +5.61% |
| 2023-12-31 | $2.15 Billion | +5.26% |
| 2022-12-31 | $2.04 Billion | +1.98% |
| 2021-12-31 | $2.00 Billion | +4.10% |
| 2020-12-31 | $1.92 Billion | +22.76% |
| 2019-12-31 | $1.57 Billion | +0.34% |
| 2018-12-31 | $1.56 Billion | +10.09% |
| 2017-12-31 | $1.42 Billion | -2.38% |
| 2016-12-31 | $1.45 Billion | +4.30% |
| 2015-12-31 | $1.39 Billion | +7.71% |
| 2014-12-31 | $1.29 Billion | +3.74% |
| 2013-12-31 | $1.25 Billion | +21.65% |
| 2012-12-31 | $1.02 Billion | +1.65% |
| 2011-12-31 | $1.01 Billion | +8.04% |
| 2010-12-31 | $933.24 Million | +27.28% |
| 2009-12-31 | $733.20 Million | +20.17% |
| 2008-12-31 | $610.13 Million | +7.92% |
| 2007-12-31 | $565.34 Million | -5.60% |
| 2006-12-31 | $598.90 Million | +25.37% |
| 2005-12-31 | $477.70 Million | +28.90% |
| 2004-12-31 | $370.58 Million | +25.46% |
| 2003-12-31 | $295.38 Million | +29.64% |
| 2002-12-31 | $227.85 Million | +25.68% |
| 2001-12-31 | $181.30 Million | +16.94% |
| 2000-12-31 | $155.04 Million | +12.10% |
| 1999-12-31 | $138.30 Million | +15.25% |
| 1998-12-31 | $120.00 Million | +14.39% |
| 1997-12-31 | $104.90 Million | +10.65% |
| 1996-12-31 | $94.80 Million | +13.53% |
| 1995-12-31 | $83.50 Million | +13.30% |
| 1994-12-31 | $73.70 Million | +217.67% |
| 1993-12-31 | $23.20 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tractor Supply Company's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 33618.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $7.52 Billion | 291.29% |
| Common Stock | $7.13 Million | 0.28% |
| Total Equity | $2.58 Billion | 100.00% |
Tractor Supply Company Competitors by Market Cap
The table below lists competitors of Tractor Supply Company ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Mettler-Toledo International Inc
NYSE:MTD
|
$24.21 Billion |
|
HEICO CORP. A DL-01
F:HC1A
|
$24.23 Billion |
|
Accton Technology Corp
TW:2345
|
$24.28 Billion |
|
FTAI Aviation Ltd.
NASDAQ:FTAI
|
$24.31 Billion |
|
BCE Inc
NYSE:BCE
|
$23.98 Billion |
|
Swiss Life Holding AG
PINK:SWSDF
|
$23.94 Billion |
|
A. Schulman Inc
PINK:SLMNP
|
$23.93 Billion |
|
ViacomCBS Inc. Cl B
LSE:0A65
|
$23.92 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tractor Supply Company's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,270,334,000 to 2,581,293,000, a change of 310,959,000 (13.7%).
- Net income of 1,096,087,000 contributed positively to equity growth.
- Dividend payments of 487,669,000 reduced retained earnings.
- Share repurchases of 361,261,000 reduced equity.
- Other comprehensive income decreased equity by 1,217,000.
- Other factors increased equity by 65,019,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.10 Billion | +42.46% |
| Dividends Paid | $487.67 Million | -18.89% |
| Share Repurchases | $361.26 Million | -14.0% |
| Other Comprehensive Income | $-1.22 Million | -0.05% |
| Other Changes | $65.02 Million | +2.52% |
| Total Change | $- | 13.70% |
Book Value vs Market Value Analysis
This analysis compares Tractor Supply Company's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 9.47x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 1381.35x to 9.47x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1993-12-31 | $0.03 | $45.95 | x |
| 1994-12-31 | $0.11 | $45.95 | x |
| 1995-12-31 | $0.12 | $45.95 | x |
| 1996-12-31 | $0.13 | $45.95 | x |
| 1997-12-31 | $0.15 | $45.95 | x |
| 1998-12-31 | $0.17 | $45.95 | x |
| 1999-12-31 | $0.20 | $45.95 | x |
| 2000-12-31 | $0.22 | $45.95 | x |
| 2001-12-31 | $0.25 | $45.95 | x |
| 2002-12-31 | $0.29 | $45.95 | x |
| 2003-12-31 | $0.37 | $45.95 | x |
| 2004-12-31 | $0.46 | $45.95 | x |
| 2005-12-31 | $0.58 | $45.95 | x |
| 2006-12-31 | $0.73 | $45.95 | x |
| 2007-12-31 | $0.70 | $45.95 | x |
| 2008-12-31 | $0.81 | $45.95 | x |
| 2009-12-31 | $1.00 | $45.95 | x |
| 2010-12-31 | $1.25 | $45.95 | x |
| 2011-12-31 | $1.36 | $45.95 | x |
| 2012-12-31 | $1.41 | $45.95 | x |
| 2013-12-31 | $1.76 | $45.95 | x |
| 2014-12-31 | $1.86 | $45.95 | x |
| 2015-12-31 | $2.04 | $45.95 | x |
| 2016-12-31 | $2.17 | $45.95 | x |
| 2017-12-31 | $2.21 | $45.95 | x |
| 2018-12-31 | $2.53 | $45.95 | x |
| 2019-12-31 | $2.60 | $45.95 | x |
| 2020-12-31 | $3.28 | $45.95 | x |
| 2021-12-31 | $3.46 | $45.95 | x |
| 2022-12-31 | $3.64 | $45.95 | x |
| 2023-12-31 | $3.92 | $45.95 | x |
| 2024-12-31 | $4.21 | $45.95 | x |
| 2025-12-31 | $4.85 | $45.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tractor Supply Company utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 42.46%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.06%
- • Asset Turnover: 1.42x
- • Equity Multiplier: 4.24x
- Recent ROE (42.46%) is above the historical average (25.27%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1993 | 29.74% | 2.47% | 2.39x | 5.03x | $4.58 Million |
| 1994 | 15.33% | 3.42% | 2.26x | 1.98x | $3.93 Million |
| 1995 | 14.97% | 3.26% | 2.21x | 2.09x | $4.15 Million |
| 1996 | 13.92% | 2.94% | 2.30x | 2.06x | $3.72 Million |
| 1997 | 11.25% | 2.32% | 2.27x | 2.14x | $1.31 Million |
| 1998 | 12.33% | 2.46% | 2.27x | 2.21x | $2.80 Million |
| 1999 | 12.94% | 2.60% | 2.27x | 2.19x | $4.07 Million |
| 2000 | 10.57% | 2.16% | 2.28x | 2.14x | $886.40K |
| 2001 | 14.22% | 3.03% | 2.51x | 1.87x | $7.64 Million |
| 2002 | 17.02% | 3.20% | 2.64x | 2.01x | $15.99 Million |
| 2003 | 19.13% | 3.84% | 2.75x | 1.82x | $26.96 Million |
| 2004 | 17.29% | 3.68% | 2.56x | 1.83x | $27.01 Million |
| 2005 | 17.93% | 4.14% | 2.54x | 1.71x | $37.90 Million |
| 2006 | 15.20% | 3.84% | 2.35x | 1.68x | $31.12 Million |
| 2007 | 17.02% | 3.56% | 2.56x | 1.87x | $39.71 Million |
| 2008 | 13.43% | 2.72% | 2.80x | 1.76x | $20.92 Million |
| 2009 | 15.75% | 3.60% | 2.61x | 1.68x | $42.15 Million |
| 2010 | 18.00% | 4.62% | 2.49x | 1.57x | $74.65 Million |
| 2011 | 22.09% | 5.26% | 2.65x | 1.58x | $121.91 Million |
| 2012 | 26.97% | 5.93% | 2.73x | 1.67x | $173.96 Million |
| 2013 | 26.32% | 6.36% | 2.71x | 1.53x | $203.54 Million |
| 2014 | 28.67% | 6.49% | 2.81x | 1.57x | $241.53 Million |
| 2015 | 29.46% | 6.59% | 2.63x | 1.70x | $271.07 Million |
| 2016 | 30.08% | 6.45% | 2.53x | 1.84x | $291.80 Million |
| 2017 | 29.79% | 5.82% | 2.53x | 2.02x | $280.73 Million |
| 2018 | 34.09% | 6.73% | 2.56x | 1.98x | $376.18 Million |
| 2019 | 35.88% | 6.73% | 1.58x | 3.38x | $405.64 Million |
| 2020 | 38.93% | 7.05% | 1.51x | 3.66x | $556.57 Million |
| 2021 | 49.79% | 7.83% | 1.64x | 3.88x | $796.85 Million |
| 2022 | 53.31% | 7.66% | 1.67x | 4.16x | $884.47 Million |
| 2023 | 51.50% | 7.61% | 1.58x | 4.27x | $892.25 Million |
| 2024 | 48.51% | 7.40% | 1.52x | 4.32x | $874.21 Million |
| 2025 | 42.46% | 7.06% | 1.42x | 4.24x | $837.96 Million |
Industry Comparison
This section compares Tractor Supply Company's net assets metrics with peer companies in the Specialty Retail industry.
Industry Context
- Industry: Specialty Retail
- Average net assets among peers: $1,531,972,871
- Average return on equity (ROE) among peers: 41.65%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tractor Supply Company (TSCO) | $2.58 Billion | 29.74% | 3.24x | $24.18 Billion |
| Able View Global Inc. Class B Ordinary Shares (ABLV) | $7.74 Million | 76.78% | 1.27x | $9.05 Million |
| Alimentation Couchen Tard Inc A (ANCTF) | $9.18 Billion | 19.97% | 1.46x | $37.28 Billion |
| Arhaus Inc (ARHS) | $3.03 Million | 248.25% | 87.69x | $365.74 Million |
| Arko Corp (ARKO) | $376.87 Million | 5.53% | 8.61x | $235.39 Million |
| Academy Sports Outdoors Inc (ASO) | $2.00 Billion | 20.88% | 1.45x | $3.34 Billion |
| BARK, Inc. (BARK) | $-46.01 Million | 0.00% | 0.00x | $92.05 Million |
| Build-A-Bear Workshop Inc (BBW) | $88.73 Million | 0.29% | 2.35x | $432.75 Million |
| Bath & Body Works Inc. (BBWI) | $2.44 Billion | 16.02% | 0.69x | $4.07 Billion |
| Best Buy Co. Inc (BBY) | $1.06 Billion | 21.09% | 1.36x | $12.22 Billion |
| Big 5 Sporting Goods Corporation (BGFV) | $198.83 Million | 7.69% | 1.24x | $29.90 Million |