Tractor Supply Company (TSCO)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,728,960 | 1,728,260 | 1,727,500 | 1,601,560 | 1,164,060 | 1,077,900 | 987,400 | 986,900 | 986,382 | 985,867 | 985,353 | 984,838 | 984,324 | 529,300 | 536,051 | 989,074 | 366,480 | 613,885 | 466,290 | 605,695 |
| 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 |
| Debt-to-assets ratio | 0.19 | 0.19 | 0.19 | 0.18 | 0.14 | 0.14 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.14 | 0.08 | 0.08 | 0.16 | 0.07 | 0.11 | 0.09 | 0.11 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,728,960K ÷ $9,188,150K
= 0.19
The debt-to-assets ratio of Tractor Supply Company has been relatively stable over the past few quarters, hovering around the range of 0.13 to 0.19. This indicates that, on average, the company has financed about 13% to 19% of its assets through debt.
The ratio experienced a slight increase in the most recent quarter, reaching 0.19, which suggests a higher proportion of debt relative to assets compared to the previous quarter.
Overall, the trend in the debt-to-assets ratio shows that Tractor Supply Company has maintained a conservative level of debt utilization in its capital structure, which may reflect a prudent approach to managing its financial obligations while supporting its growth and operations.
Peer comparison
Dec 31, 2023