Tractor Supply Company (TSCO)
Operating return on assets (Operating ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 1,478,910 | 1,434,940 | 1,306,700 | 996,928 | 743,220 |
| Total assets | US$ in thousands | 9,188,150 | 8,489,990 | 7,767,470 | 7,049,120 | 5,289,270 |
| Operating ROA | 16.10% | 16.90% | 16.82% | 14.14% | 14.05% |
December 31, 2023 calculation
Operating ROA = Operating income ÷ Total assets
= $1,478,910K ÷ $9,188,150K
= 16.10%
Tractor Supply Company's operating return on assets (operating ROA) has shown consistency and improvement over the past five years. The operating ROA increased from 14.05% in 2019 to 16.10% in 2023, indicating an upward trend in the company's ability to generate operating income relative to its total assets. This improvement suggests efficient utilization of assets to generate operating profits. Despite some fluctuation year over year, overall, Tractor Supply Company has maintained a strong operating ROA performance, signaling effective management of both assets and operations to drive profitability.
Peer comparison
Dec 31, 2023