Last 48 quarters of trend data · Consumer Cyclical · Specialty Retail
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Tractor Supply Company's quarterly P/E stands at 36.5x, down 7.1% year-over-year. EV/EBITDA has compressed 9.4% YoY to 20.9x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 14.68 | 36.53 | 29.88 | 28.84 | 15.96 | 39.32 | 30.15 | 31.79 | 17.18 | 35.75 | 23.58 | 21.79 | 14.43 |
| — | -7.1% | -0.9% | -9.3% | -7.1% | +10.0% | +27.9% | +45.9% | +19.0% | +0.4% | +1.9% | -1.4% | +0.4% | |
| P/S Ratio | 1.03 | 1.67 | 1.75 | 2.02 | 1.55 | 2.06 | 1.90 | 2.22 | 1.72 | 2.09 | 1.60 | 1.63 | 1.45 |
| — | -19.1% | -7.9% | -8.9% | -9.9% | -1.5% | +18.7% | +36.5% | +18.4% | +6.0% | +2.3% | +2.8% | -0.4% | |
| P/B Ratio | 6.23 | 9.52 | 10.56 | 11.70 | 11.05 | 12.76 | 12.61 | 13.46 | 12.68 | 13.37 | 10.89 | 10.52 | 11.66 |
| — | -25.4% | -16.3% | -13.1% | -12.8% | -4.6% | +15.9% | +28.0% | +8.7% | -1.7% | -11.2% | -1.4% | -2.1% | |
| P/FCF | 21.50 | — | 114.93 | 248.63 | 11.96 | 94.57 | 26.40 | — | 19.89 | 70.86 | 34.63 | — | 10.65 |
| — | — | +335.4% | — | -39.9% | +33.5% | -23.8% | — | +86.8% | — | +126.0% | — | -22.7% | |
| EV / EBITDA | 11.05 | 20.91 | 19.39 | 19.09 | 11.73 | 23.08 | 19.28 | 20.52 | 12.66 | 22.61 | 16.02 | 15.51 | 10.79 |
| — | -9.4% | +0.6% | -6.9% | -7.3% | +2.1% | +20.3% | +32.2% | +17.3% | +1.1% | -0.0% | -0.5% | +0.2% | |
| EV / EBIT | 14.76 | 32.25 | 27.71 | 26.01 | 14.21 | 34.21 | 26.55 | 27.70 | 15.12 | 31.56 | 20.97 | 19.62 | 12.76 |
| — | -5.7% | +4.4% | -6.1% | -6.0% | +8.4% | +26.6% | +41.1% | +18.5% | +1.0% | +3.6% | -2.0% | +2.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Tractor Supply Company's operating margin was 6.5% in Q1 2026, down 1.1 pp QoQ and down 0.7 pp YoY. This marks the 4th consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 9.1% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 9.7% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.2% | 32.7% | 25.6% | 37.4% | 34.2% | 36.2% | 35.2% | 37.2% | 36.6% | 36.0% | 35.3% | 36.6% | 36.2% |
| — | -9.7% | -27.3% | +0.4% | -6.7% | +0.7% | -0.3% | +1.5% | +1.2% | +1.4% | +3.8% | +2.8% | +8.4% | |
| Operating Margin | 9.5% | 6.5% | 7.6% | 9.2% | 13.0% | 7.2% | 8.4% | 9.4% | 13.2% | 7.8% | 9.1% | 10.0% | 13.4% |
| — | -9.6% | -9.5% | -1.5% | -1.6% | -7.3% | -7.6% | -6.3% | -1.1% | +4.6% | +1.9% | +6.7% | -0.6% | |
| Net Margin | 7.1% | 4.6% | 5.8% | 7.0% | 9.7% | 5.2% | 6.3% | 7.0% | 10.0% | 5.8% | 6.8% | 7.5% | 10.1% |
| — | -11.5% | -6.9% | +0.1% | -3.3% | -11.4% | -7.5% | -6.8% | -0.5% | +5.2% | +0.2% | +4.4% | -0.9% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 45.2% | 6.5% | 8.8% | 10.2% | 18.2% | 8.0% | 10.4% | 10.5% | 19.2% | 9.3% | 11.6% | 12.1% | 21.1% |
| — | -18.8% | -14.9% | -2.6% | -5.3% | -14.2% | -10.9% | -13.5% | -8.8% | +0.2% | -14.4% | +0.0% | -1.7% | |
| ROA | 10.6% | 1.5% | 2.1% | 2.4% | 4.1% | 1.8% | 2.4% | 2.5% | 4.4% | 2.1% | 2.7% | 2.8% | 4.7% |
| — | -18.0% | -13.7% | -2.1% | -6.6% | -16.0% | -10.4% | -11.7% | -6.7% | +0.1% | -18.4% | -5.8% | -7.6% | |
| ROIC | 14.0% | 2.1% | 2.7% | 3.2% | 5.6% | 2.5% | 3.2% | 3.4% | 6.0% | 2.9% | 3.7% | 3.9% | 6.6% |
| — | -16.3% | -15.4% | -4.1% | -7.7% | -14.5% | -13.9% | -14.6% | -8.5% | -1.7% | -17.7% | -4.8% | -11.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Tractor Supply Company's Debt/EBITDA ratio is 17.8x, up from 14.0x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has risen for 3 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.30 | 2.55 | 2.30 | 2.22 | 2.23 | 2.57 | 2.39 | 2.33 | 2.22 | 2.39 | 2.34 | 2.36 | 2.32 |
| — | -0.9% | -3.6% | -4.6% | +0.4% | +7.5% | +2.0% | -1.2% | -4.2% | -2.6% | +12.0% | +12.8% | +12.9% | |
| Debt / EBITDA | 3.03 | 17.80 | 13.97 | 12.26 | 7.94 | 15.61 | 12.37 | 12.17 | 7.64 | 13.84 | 11.51 | 11.54 | 7.32 |
| — | +14.1% | +12.9% | +0.7% | +3.9% | +12.8% | +7.5% | +5.5% | +4.4% | +0.5% | +22.4% | +12.0% | +13.2% | |
| Current Ratio | 1.34 | 1.38 | 1.34 | 1.30 | 1.28 | 1.41 | 1.43 | 1.48 | 1.43 | 1.40 | 1.50 | 1.52 | 1.60 |
| — | -1.9% | -6.0% | -12.4% | -10.3% | +0.6% | -4.8% | -2.6% | -10.5% | -5.0% | +12.8% | +2.7% | +11.0% | |
| Quick Ratio | 0.16 | 0.16 | 0.16 | 0.14 | 0.16 | 0.17 | 0.20 | 0.17 | 0.25 | 0.19 | 0.28 | 0.30 | 0.41 |
| — | -8.1% | -20.0% | -17.6% | -34.7% | -9.1% | -28.7% | -43.4% | -38.7% | +2.6% | +50.5% | +46.5% | +23.3% | |
| Interest Coverage | 21.22 | 12.22 | 17.67 | 23.37 | 32.13 | 12.68 | 18.51 | 23.39 | 48.35 | 22.11 | 27.97 | 35.74 | 45.32 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying TSCO stock.
Tractor Supply Company's current P/E is 14.7x. The average P/E over the last 4 quarters is 27.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Tractor Supply Company's current operating margin is 9.5%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Tractor Supply Company's business trajectory between earnings reports.