Tractor Supply Company (TSCO)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 5,396,560 | 5,228,220 | 4,972,200 | 4,477,150 | 3,761,550 |
| Revenue | US$ in thousands | 14,883,200 | 14,555,700 | 14,204,700 | 12,731,100 | 10,620,400 |
| Gross profit margin | 36.26% | 35.92% | 35.00% | 35.17% | 35.42% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $5,396,560K ÷ $14,883,200K
= 36.26%
Tractor Supply Company's gross profit margin has shown a consistent trend over the past five years. Starting at 35.42% as of December 31, 2020, the margin decreased slightly to 35.17% by December 31, 2021, and further to 35.00% by December 31, 2022. However, the margin then rebounded, reaching 35.92% by December 31, 2023, and continuing to improve to 36.26% by December 31, 2024. This suggests that the company has been able to effectively manage its cost of goods sold and generate higher profitability from its sales over the recent years. The increasing trend in the gross profit margin is a positive indicator of Tractor Supply Company's ability to maintain healthy margins despite any potential fluctuations in revenue or operating expenses.
Peer comparison
Dec 31, 2024