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 16,677 - -
Change - -6.46% -6.71% 26.78% -6.83% -38.58% - -
Enterprise Value (EV) 1 26,490 25,643 24,356 30,757 28,762 18,715 18,427 18,573
Change - -3.2% -5.02% 26.28% -6.49% -34.93% -1.54% 0.79%
P/E 26.9x 23x 21.1x 26.7x 24.9x 17x 15.5x 14.1x
PBR 13.4x 12.2x 10.9x 13x 10.6x 6.25x 5.5x 5.4x
PEG - 1.8x 5.39x 24.49x 25.4x -1.8x 1.5x 1.43x
Capitalization / Revenue 2.07x 1.73x 1.58x 1.96x 1.75x 1.05x 1x 0.95x
EV / Revenue 2.08x 1.81x 1.67x 2.07x 1.85x 1.17x 1.11x 1.06x
EV / EBITDA 16.8x 14.4x 13x 16.1x 14.7x 9.92x 9.3x 8.78x
EV / EBIT 20.3x 17.9x 16.5x 21x 19.6x 13.9x 12.9x 12.1x
EV / FCF 51.9x 43.9x 42x 48.3x 21.9x 30.7x 21.4x 22.2x
FCF Yield 1.93% 2.28% 2.38% 2.07% 4.56% 3.26% 4.68% 4.51%
Dividend per Share 2 0.416 0.736 0.824 0.88 0.92 0.9667 1.026 1.15
Rate of return 0.9% 1.65% 1.94% 1.61% 1.79% 3.04% 3.23% 3.62%
EPS 2 1.722 1.942 2.018 2.04 2.06 1.865 2.055 2.258
Distribution rate 24.2% 37.9% 40.8% 43.1% 44.7% 51.8% 49.9% 50.9%
Net sales 1 12,731 14,205 14,556 14,883 15,524 15,954 16,616 17,546
EBITDA 1 1,577 1,778 1,872 1,915 1,961 1,886 1,981 2,114
EBIT 1 1,307 1,435 1,479 1,468 1,467 1,346 1,425 1,540
Net income 1 997.1 1,089 1,107 1,101 1,096 972.6 1,057 1,145
Net Debt 1 145.1 999.4 1,367 1,612 1,607 2,038 1,749 1,895
Reference price 2 46.29 44.62 42.53 54.56 51.39 31.80 31.80 31.80
Nbr of stocks (in thousands) 569,075 552,316 540,571 534,195 528,404 524,450 - -
Announcement Date 27/01/22 26/01/23 01/02/24 30/01/25 29/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.05x1.16x9.84x3.04% 16.68B
27.66x1.22x5.68x2.48% 8.04B
17.4x1.68x14.86x5.61% 5.22B
9.74x2.03x5.83x5.49% 3.62B
7.3x0.55x4.53x-.--% 1.43B
30.07x14.4x22.84x - 1.23B
5.93x0.53x4.97x7.6% 1.2B
Average 16.45x 3.08x 9.79x 4.04% 5.35B
Weighted average by Cap. 18.37x 1.72x 9.32x 3.56%

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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