Tractor Supply Company (TSCO)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,107,230 | 1,088,710 | 997,114 | 748,958 | 562,354 |
| Total assets | US$ in thousands | 9,188,150 | 8,489,990 | 7,767,470 | 7,049,120 | 5,289,270 |
| ROA | 12.05% | 12.82% | 12.84% | 10.62% | 10.63% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $1,107,230K ÷ $9,188,150K
= 12.05%
Tractor Supply Company's return on assets (ROA) has shown a relatively stable performance over the past five years, ranging from 10.62% in 2020 to 12.84% in 2021. The ROA decreased slightly to 12.05% in 2023 from 12.82% in 2022. This indicates that the company is generating an average of 12.05% return on its assets, which is a positive sign for investors and creditors. The consistent ROA figures suggest that Tractor Supply Company has been effectively utilizing its assets to generate profits. However, it is essential to monitor any significant fluctuations in ROA in the future to assess the company's ongoing operational efficiency and profitability.
Peer comparison
Dec 31, 2023