Tractor Supply Company (TSCO)
Fixed asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 14,883,220 | 14,769,530 | 14,713,270 | 14,651,350 | 14,555,740 | 14,902,280 | 14,761,100 | 14,479,810 | 14,204,720 | 13,517,620 | 13,264,750 | 12,962,900 | 12,731,110 | 12,290,090 | 11,878,730 | 11,453,500 | 10,620,350 | 9,933,870 | 9,311,440 | 8,488,890 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | — | — | 2,185,480 | 2,144,770 | 2,083,620 | 4,647,120 | 4,504,700 | 4,399,840 | 4,403,660 | 4,167,210 | 4,008,880 | 1,287,000 | 1,248,960 | 1,178,620 | 1,148,220 | 1,143,190 |
| Fixed asset turnover | — | — | — | — | — | — | 6.75 | 6.75 | 6.82 | 2.91 | 2.94 | 2.95 | 2.89 | 2.95 | 2.96 | 8.90 | 8.50 | 8.43 | 8.11 | 7.43 |
December 31, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $14,883,220K ÷ $—K
= —
Tractor Supply Company's fixed asset turnover ratio has shown fluctuations over the given period. The ratio was consistently high in the range of 7.43 to 8.90 from March 2020 to March 2021, indicating that the company was generating significant revenue relative to its investment in fixed assets during that period. However, there was a sharp decline in the ratio from June 2021 to September 2022, dropping to the range of 2.89 to 2.91. This indicates that the company's efficiency in utilizing its fixed assets to generate sales revenue decreased during this period.
There was a notable increase in the fixed asset turnover ratio in the last quarter of 2022, reaching 6.82, and this trend continued with similar levels in the first half of 2023. This improvement suggests that Tractor Supply Company managed to enhance its revenue generation from fixed assets. Unfortunately, the data is not available for the latter half of 2023 and the entirety of 2024.
Overall, the consistent high levels of fixed asset turnover ratios in the earlier period contrast with the fluctuations and decline in recent years, indicating potential changes in the company's operating efficiency and asset utilization strategies. Further analysis would be required to understand the reasons behind these variations and their implications for Tractor Supply Company's financial performance.
Peer comparison
Dec 31, 2024