Tractor Supply Company (TSCO)
Working capital 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 |
| Total current assets | US$ in thousands | 3,309,920 | 3,483,160 | 3,639,620 | 3,519,480 | 3,263,940 | 3,534,110 | 3,577,270 | 3,458,920 | 3,157,780 | 3,109,800 | 3,230,400 | 3,168,280 | 3,250,440 | 3,467,860 | 3,567,140 | 3,380,830 | 3,258,680 | 3,170,960 | 3,030,110 | 2,480,240 |
| Total current liabilities | US$ in thousands | 2,319,190 | 2,345,710 | 2,544,540 | 2,517,760 | 2,177,080 | 2,318,800 | 2,237,460 | 2,349,700 | 2,376,210 | 2,095,200 | 2,242,180 | 2,199,660 | 2,064,840 | 2,046,010 | 2,083,530 | 1,975,920 | 1,743,800 | 2,132,660 | 2,157,050 | 1,494,120 |
| Working capital turnover | 15.02 | 12.98 | 13.44 | 14.63 | 13.39 | 12.26 | 11.02 | 13.05 | 18.17 | 13.32 | 13.42 | 13.38 | 10.74 | 8.64 | 8.01 | 8.15 | 7.01 | 9.57 | 10.67 | 8.61 |
December 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $14,883,220K ÷ ($3,309,920K – $2,319,190K)
= 15.02
Tractor Supply Company's working capital turnover has shown fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio indicates how efficiently the company is using its working capital to generate revenue.
The working capital turnover ratio increased from 8.61 on March 31, 2020, to a peak of 18.17 on December 31, 2022. This signifies an improvement in the company's ability to generate sales revenue relative to its working capital during this period.
Subsequently, the ratio decreased to 11.02 on June 30, 2023, before increasing again to 15.02 on December 31, 2024. These fluctuations suggest potential changes in Tractor Supply Company's working capital management effectiveness and revenue generation efficiency.
Overall, the company's working capital turnover ratio has experienced ups and downs, indicating variability in how efficiently Tractor Supply Company is utilizing its working capital. It's essential for stakeholders to monitor this ratio to assess the company's operational efficiency and financial performance accurately.
Peer comparison
Dec 31, 2024