Tractor Supply Company (TSCO)
Net profit margin
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | 1,107,226 | 1,130,193 | 1,109,329 | 1,084,573 | 1,088,712 | 1,039,180 | 1,029,443 | 1,002,987 | 997,114 | 911,669 | 877,879 | 846,535 | 748,958 | 757,244 | 688,767 | 569,299 | 562,354 | 555,026 | 549,677 | 537,756 |
| Revenue (ttm) | US$ in thousands | 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 | 20,032,230 | 19,620,870 | 19,195,640 | 18,362,490 | 9,933,870 | 9,311,440 | 8,488,890 | 8,351,920 | 8,293,410 | 8,190,890 | 8,050,360 |
| Net profit margin | 7.61% | 7.58% | 7.52% | 7.49% | 7.66% | 7.69% | 7.76% | 7.74% | 7.83% | 4.55% | 4.47% | 4.41% | 4.08% | 7.62% | 7.40% | 6.71% | 6.73% | 6.69% | 6.71% | 6.68% |
December 31, 2023 calculation
Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $1,107,226K ÷ $14,555,740K
= 7.61%
Tractor Supply Company's net profit margin has shown some fluctuations over the past several quarters. The net profit margin ranged from 4.08% to 7.83% during the period under review.
The highest net profit margin was 7.83% in the first quarter of 2022, while the lowest was 4.08% in the first quarter of 2021. The company experienced a downward trend in profitability from the first quarter of 2021 to the third quarter of 2021, with net profit margins ranging from 4.08% to 4.47%.
However, there was an improvement in profitability in the later quarters of 2021 and throughout 2022, with net profit margins ranging from 6.71% to 7.83%. In the most recent quarters of 2023, the net profit margin has been relatively stable, hovering around 7.5% to 7.6%.
Overall, Tractor Supply Company has maintained a healthy net profit margin, with an average of approximately 6.9% over the period analyzed. This indicates that the company is effectively managing its expenses relative to its revenue, resulting in a reasonable level of profitability.
Peer comparison
Dec 31, 2023