Tractor Supply Company (TSCO)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 2,149,760 | 2,111,130 | 2,087,150 | 1,914,550 | 2,042,420 | 1,941,140 | 1,913,870 | 1,790,020 | 2,002,660 | 2,020,750 | 1,980,110 | 1,852,300 | 1,923,840 | 1,875,870 | 1,695,730 | 1,353,720 | 1,567,120 | 1,491,820 | 1,544,940 | 1,485,580 |
| Debt-to-capital ratio | 0.45 | 0.45 | 0.45 | 0.46 | 0.36 | 0.36 | 0.34 | 0.36 | 0.33 | 0.33 | 0.33 | 0.35 | 0.34 | 0.22 | 0.24 | 0.42 | 0.19 | 0.29 | 0.23 | 0.29 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,728,960K ÷ ($1,728,960K + $2,149,760K)
= 0.45
The debt-to-capital ratio of Tractor Supply Company has shown some variability over the past few quarters, ranging from 0.19 to 0.46. This ratio provides insights into the company's capital structure and financial risk. A higher debt-to-capital ratio indicates a higher level of debt relative to total capital, which may suggest greater financial leverage and risk. Conversely, a lower ratio indicates a stronger capital position and lower risk.
Tractor Supply's debt-to-capital ratio has been relatively stable around the 0.33 to 0.45 range for most quarters, with a notable increase to 0.46 in March 31, 2023. This increase might suggest a temporary elevation in the company's leverage during that period. It's important for investors and analysts to carefully monitor changes in this ratio to assess the company's ability to manage its debt levels and financial obligations effectively.
Peer comparison
Dec 31, 2023