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Tractor Supply (TSCO) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Tractor Supply (TSCO) Q3 2026 earnings results →

Q3 2026 Revenue up 5% year over year to $3.9B · 6¢ of every $1 of revenue kept as net profit · operating margin 7.9%

Tractor Supply made $3.9B in Q3 2026 (+5% Y/Y). Operating margin 7.9%, net earnings $225M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.

Revenue$3.9B
Year over year+5%
Operating margin7.9%
Net earnings$225M
Operating cash flow$229M

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Tractor Supply Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Tractor Supply Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $3.9B in Q3 2026, up 5% year over year and down 14% from the previous quarter.

Gross margin was 36.4%, down 0.9 points from Q3 2025. Operating profit was $0.31B, a 7.9% margin (down 1.3 points year over year). Operating profit fell $0.03B even though revenue rose $0.19B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 7% against revenue growth of 5%. Net earnings were $0.22B, down 13% year over year. The effective tax rate was 22.1%.

Operating cash flow was $0.23B (down 25% year over year), 102% of net earnings. Non-cash charges added back $0.13B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.14B. Capital expenditures of $0.22B left free cash flow of $0.01B.

Quarterly history

Tractor Supply revenue by quarterTractor Supply revenue by quarter$3.5BQ1 2025$4.4BQ2 2025$3.7BQ3 2025$3.9BQ4 2025$3.6BQ1 2026$4.5BQ2 2026$3.9BQ3 2026
Tractor Supply net earnings by quarterTractor Supply net earnings by quarter$179MQ1 2025$430MQ2 2025$259MQ3 2025$227MQ4 2025$165MQ1 2026$361MQ2 2026$225MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 5, 2026$3.9B+5%7.9%$225M$229M
Q2 202610-QAug 6, 2026$4.5B+2%10.3%$361M$562M
Q1 202610-QMay 7, 2026$3.6B+4%6.5%$165M$91.1M
Q4 202510-KFeb 19, 2026$3.9B+3%7.6%$227M$325M
Q3 202510-QNov 6, 2025$3.7B+7%9.2%$259M$308M
Q2 202510-QAug 7, 2025$4.4B+4%13.0%$430M$786M
Q1 202510-QMay 8, 2025$3.5B+2%7.2%$179M$217M

Charts

Tractor Supply: revenue growth, year over year and quarter over quarterTractor Supply: revenue growth, year over year and quarter over quarterY/YQ/Q+2%Q1 2025+4%+28%Q2 2025+7%-16%Q3 2025+3%+5%Q4 2025+4%-8%Q1 2026+2%+26%Q2 2026+5%-14%Q3 2026
Latest (Q3 2026): Y/Y +5%, Q/Q -14%.
Tractor Supply: where the cash came from (+) and went (−), TTM to Q3 2026Tractor Supply: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$1.2BCapital spending−$917MDividends−$498MNet borrowing (+) / repaid (−)$488MBuybacks−$460MAsset & business sales$324MOther investing−$130MShares issued$22.3MTaxes on employees’ shares−$15.2MCash drawn (+) / kept (−)−$14.2MOther financing−$7.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Tractor Supply: profit against cash, quarter by quarterTractor Supply: profit against cash, quarter by quarterNet incomeOperating cash flow$236M$517MQ4 2024$179M$217MQ1 2025$430M$786MQ2 2025$259M$308MQ3 2025$227M$325MQ4 2025$165M$91.1MQ1 2026$361M$562MQ2 2026$225M$229MQ3 2026
Latest (Q3 2026): Net income $225M, Operating cash flow $229M.
Tractor Supply: diluted shares by fiscal year (split-adjusted)Tractor Supply: diluted shares by fiscal year (split-adjusted)587MFY2020579MFY2021561MFY2022549MFY2023540MFY2024532MFY2025
-9.4% since FY2020: buybacks shrank the count; earlier years scaled for the 5-for-1 split before FY2022.
Tractor Supply in its industry: growth against margin (5 companies, SIC 5200)Tractor Supply in its industry: growth against margin (5 companies, SIC 5200)revenue growth, year over year →↑ operating marginmedian +6%median 8%SHWFASTGRWGIPWTSCO (+5%, 8%)
Retail-Building Materials, Hardware, Garden Supply; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Tractor Supply

Tractor Supply Company (the “Company” or “Tractor Supply” or “we” or “our” or “us”) is the largest rural lifestyle retailer in the United States (“U.S.”). The Company is focused on supplying the needs of recreational farmers, ranchers, and all those who enjoy living the rural lifestyle (which we refer to as the “ Out Here ” lifestyle). We operate retail stores under the names Tractor Supply Company and Petsense by Tractor Supply. Our stores are located primarily in towns outlying major metropolitan markets and in rural communities. We also offer an expanded assortment of products through the Tractor Supply mobile application and online at TractorSupply.com, Petsense.com, and Allivet.com.

In its own words, from its 10-K, filed Feb 19, 2026.

Tractor Supply against its Retail-Building Materials, Hardware, Garden Supply peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +6%. Operating margin: 7.9% against the peers' median 7.9%.

CompanyQuarterRevenueY/YOp. margin
TSCO Tractor SupplyQ3 2026$3.9B+5%7.9%
SHW Sherwin WilliamsQ3 2026$6.9B+8%15.5%
FAST FastenalQ3 2026$2.5B+16%21.5%
GRWG GrowGenerationQ2 2026$43.2M+6%-5.4%
IPW iPowerQ4 FY26$1.4M-86%-648.0%

Source: Tractor Supply 10-Q on SEC EDGAR · CIK 916365 · Retail-Building Materials, Hardware, Garden Supply

Guidance and outlook

Tractor Supply Revenue: guidance against what was reportedTractor Supply Revenue: guidance against what was reportedguided rangereported (above / within / below)FY2024$14.9B
Met or beat 1 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Tractor Supply: what its forward-looking statements are about (10-Q filed 2026-11-05)Tractor Supply: what its forward-looking statements are about (10-Q filed 2026-11-05)Demand2Other1Capital spending1Buybacks & dividends1
5 statements; tone +0.00 (−1 all cautious, +1 all confident); 1 hedged.

13F: who owns TSCO and who is buying

Largest holders of TSCO (13F)Largest holders of TSCO (13F)Vanguard Group$3.4BBlackRock$1.5BInvesco$1.1BVanguard Capital Management LLC$1.1BCapital Research Global Investors$949MVanguard Portfolio Management LLC$844MCapital International Investors$816MPrice T Rowe Associates$744MState Street$743MGeode Capital Management, LLC$491M
Funds' net buying of TSCO by quarter (13F)Funds' net buying of TSCO by quarter (13F)−$77.9M2024-09−$95.9M2024-12$202M2025-03$179M2025-06−$926M2025-09$341M2025-12−$1.2B2026-03$16.1M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on TSCO

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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