Company Valuation: Tractor Supply Company

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,345 24,643 22,989 29,146 27,155 16,368 - -
Change - -6.46% -6.71% 26.78% -6.83% -39.72% - -
Enterprise Value (EV) 1 26,490 25,643 24,356 30,757 28,762 18,077 17,858 17,729
Change - -3.2% -5.02% 26.28% -6.49% -37.15% -1.21% -0.72%
P/E 26.9x 23x 21.1x 26.7x 24.9x 14.8x 13.6x 12.1x
PBR 13.4x 12.2x 10.9x 13x 10.6x 5.6x 4.95x 4.5x
PEG - 1.8x 5.39x 24.49x 25.4x 5.8x 1.6x 1x
Capitalization / Revenue 2.07x 1.73x 1.58x 1.96x 1.75x 1.01x 0.96x 0.9x
EV / Revenue 2.08x 1.81x 1.67x 2.07x 1.85x 1.12x 1.05x 0.97x
EV / EBITDA 16.8x 14.4x 13x 16.1x 14.7x 8.9x 8.24x 7.62x
EV / EBIT 20.3x 17.9x 16.5x 21x 19.6x 12.1x 11.1x 10.2x
EV / FCF 51.9x 43.9x 42x 48.3x 21.9x 22.4x 19x 20.5x
FCF Yield 1.93% 2.28% 2.38% 2.07% 4.56% 4.46% 5.27% 4.88%
Dividend per Share 2 0.416 0.736 0.824 0.88 0.92 0.9651 1.028 1.15
Rate of return 0.9% 1.65% 1.94% 1.61% 1.79% 3.09% 3.29% 3.69%
EPS 2 1.722 1.942 2.018 2.04 2.06 2.113 2.292 2.571
Distribution rate 24.2% 37.9% 40.8% 43.1% 44.7% 45.7% 44.9% 44.7%
Net sales 1 12,731 14,205 14,556 14,883 15,524 16,192 17,084 18,257
EBITDA 1 1,577 1,778 1,872 1,915 1,961 2,032 2,167 2,328
EBIT 1 1,307 1,435 1,479 1,468 1,467 1,498 1,608 1,745
Net income 1 997.1 1,089 1,107 1,101 1,096 1,109 1,194 1,312
Net Debt 1 145.1 999.4 1,367 1,612 1,607 1,708 1,490 1,361
Reference price 2 46.29 44.62 42.53 54.56 51.39 31.21 31.21 31.21
Nbr of stocks (in thousands) 569,075 552,316 540,571 534,195 528,404 524,450 - -
Announcement Date 1/27/22 1/26/23 2/1/24 1/30/25 1/29/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.77x1.12x8.9x3.09% 16.37B
32.06x1.28x5.95x2.23% 9.09B
17.81x1.66x15.37x5.46% 5.22B
9.22x1.9x5.45x5.8% 3.43B
35.2x17.48x26.93x - 1.5B
7.04x0.54x4.41x-.--% 1.38B
5.8x0.53x4.95x7.63% 1.19B
Average 17.41x 3.50x 10.28x 4.04% 5.45B
Weighted average by Cap. 19.04x 1.90x 9.19x 3.5%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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