Tractor Supply Company (TSCO)
Operating return on assets (Operating ROA)
| 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 |
| Total assets | US$ in thousands | 9,188,150 | 9,205,010 | 9,032,820 | 8,848,820 | 8,489,990 | 7,911,730 | 7,869,190 | 7,686,810 | 7,767,470 | 7,745,190 | 7,687,890 | 7,359,680 | 7,049,120 | 6,860,800 | 6,611,080 | 6,002,400 | 5,289,270 | 5,429,300 | 5,312,720 | 5,437,200 |
| Operating ROA | 16.10% | 16.34% | 16.27% | 16.22% | 16.90% | 17.30% | 17.28% | 17.18% | 16.82% | 15.47% | 15.00% | 15.15% | 14.14% | 14.62% | 13.80% | 12.53% | 14.05% | 13.50% | 13.64% | 13.07% |
December 31, 2023 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $1,478,912K ÷ $9,188,150K
= 16.10%
Tractor Supply Company's operating return on assets (operating ROA) has shown a fairly stable trend over the analyzed periods. The operating ROA ranged from a low of 12.53% in March 2020 to a high of 17.30% in September 2022, indicating the company's ability to generate operating income relative to its total assets.
The operating ROA stayed consistently above 15% for most of the periods, signifying efficient utilization of assets to generate operating profits. The slight fluctuations in the operating ROA indicate some variability in the company's operational efficiency over time.
Overall, Tractor Supply Company has demonstrated a strong performance in terms of operating ROA, with consistent levels above 15% reflecting effective asset management and operational profitability.
Peer comparison
Dec 31, 2023