Tractor Supply Company (TSCO)
Operating 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 1,478,912 | 1,503,887 | 1,469,394 | 1,435,097 | 1,434,943 | 1,368,787 | 1,359,600 | 1,320,448 | 1,306,698 | 1,198,111 | 1,153,063 | 1,114,926 | 996,928 | 1,002,899 | 912,539 | 752,350 | 743,220 | 733,164 | 724,495 | 710,396 |
| 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 |
| Operating profit margin | 10.16% | 10.09% | 9.95% | 9.91% | 10.10% | 10.13% | 10.25% | 10.19% | 10.26% | 5.98% | 5.88% | 5.81% | 5.43% | 10.10% | 9.80% | 8.86% | 8.90% | 8.84% | 8.85% | 8.82% |
December 31, 2023 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,478,912K ÷ $14,555,740K
= 10.16%
Tractor Supply Company's operating profit margin has shown some fluctuations over the past few quarters. From Dec 31, 2019 to Mar 31, 2021, the operating profit margin was relatively stable between 8.82% and 10.26%. However, there was a notable decline in the margin from Jun 30, 2021 to Mar 31, 2022, reaching a low point of 5.43% before gradually recovering.
Although the margin improved in the latter half of 2022, it remained below historical levels. Tractor Supply Company managed to increase its operating profit margin to around 10% from Dec 31, 2022 to Jun 30, 2023 before experiencing a slight decline in the most recent quarter.
Overall, the operating profit margin for Tractor Supply Company has shown a mix of patterns, indicating a need for continued monitoring and management of operational efficiency and profitability.
Peer comparison
Dec 31, 2023