Added to YB: 2026-06-02
Pitch date: 2026-05-30
TSCO [bullish]
Tractor Supply Company
Author Info
D Invests is a self taught investor with a focus on quality and value. This newsletter focuses on businesses within their portfolio past and present. Their aim is to double their investments every 5 years resulting in a target 15% CAGR. Sign up for the newsletter.
Company Info
Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company provides various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; companion animal products, such as food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.
Market Cap
$16.5B
Pitch Price
N/A
Price Target
N/A
Dividend
3.04%
EV/EBITDA
8.60
P/E
15.52
EV/Sales
1.45
Sector
Specialty Retail
Category
value
Tractor Supply: A Yield Worth Harvesting
TSCO: Largest US rural lifestyle retailer, 2,641 stores (target 3,200, ~100/yr, ~6yrs growth left), 38M loyalty members (80% of sales, 90% retention). Resilient 'needs-based' C.U.E inventory. Down 52% from peak on weak consumer/pet slowdown, margin pressure, ROIC declining to 14.4%. Adj FCF ~$1.14Bn (14.5x, 6.9% yield), 10yr-low multiples (14.7x P/E vs 23.5x median), 3%+ div yield (15yr raises). Five-factor IRR 13-23% over 5yrs on re-rating.
Read full article (17 min)