Tractor Supply Company (TSCO)
Debt-to-equity 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-equity ratio | 0.80 | 0.82 | 0.83 | 0.84 | 0.57 | 0.56 | 0.52 | 0.55 | 0.49 | 0.49 | 0.50 | 0.53 | 0.51 | 0.28 | 0.32 | 0.73 | 0.23 | 0.41 | 0.30 | 0.41 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,728,960K ÷ $2,149,760K
= 0.80
The debt-to-equity ratio of Tractor Supply Company has shown fluctuations over the past few quarters. From December 2019 to December 2023, the ratio ranged from 0.23 to 0.84. The trend indicates that the company has been gradually increasing its leverage, as evidenced by the rising ratio over this period. A higher debt-to-equity ratio suggests that the company is using more debt to finance its operations compared to equity. It is important to monitor this trend closely as high levels of debt can increase financial risk and impact the company's ability to meet its obligations in the long run.
Peer comparison
Dec 31, 2023