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Tractor Supply cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$13.6M in Q3 2026 · $290M over twelve months

Operating cash flow$229M
Capital spending−$216M
Free cash flow+$13.6M
Cash / net income1.0×

Analysis

In Q3 2026, Tractor Supply generated $229M of operating cash flow and spent $216M on capital projects, leaving free cash flow of $13.6M.

Over the twelve months to Sep 26, 2026, operating cash flow was $1.2B; the largest uses were capital spending ($917M), dividends ($498M), buybacks ($460M); besides operations, cash came from net borrowing (+) / repaid (−) ($488M), asset & business sales ($324M); the cash balance rose by $14.2M.

Operating cash flow was $229M against net income of $225M — 1.0× profit, roughly in line with earnings. The largest differences: depreciation & amortization +$133M, payables −$101M, inventory −$100M.

Free cash flow

Tractor Supply: free cash flow by quarterTractor Supply: free cash flow by quarter$271MQ4 2024$75.5MQ1 2025$575MQ2 2025$30.3MQ3 2025$59.3MQ4 2025−$111MQ1 2026$329MQ2 2026$13.6MQ3 2026
Operating cash flow less capital spending.
Tractor Supply: operating cash flow against capital spendingTractor Supply: operating cash flow against capital spendingOperating cash flowCapital spending$517M$246MQ4 2024$217M$141MQ1 2025$786M$210MQ2 2025$308M$278MQ3 2025$325M$266MQ4 2025$91.1M$203MQ1 2026$562M$233MQ2 2026$229M$216MQ3 2026
Latest (Q3 2026): Operating cash flow $229M, Capital spending $216M.

Capital allocation, year by year

Tractor Supply: where the cash came from (up) and went (down), by fiscal yearTractor Supply: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.1BFY2021: Net borrowing −$4.6MFY2021: Shares issued $82.2MFY2021: Asset sales $1.1MFY2021: Capital spending −$628MFY2021: Buybacks −$799MFY2021: Dividends −$239M$1.2BFY2021FY2022: Operating cash flow $1.4BFY2022: Net borrowing $174MFY2022: Shares issued $25.5MFY2022: Asset sales $70.4MFY2022: Capital spending −$773MFY2022: Acquisitions −$391MFY2022: Buybacks −$700MFY2022: Dividends −$410M$1.6BFY2022FY2023: Operating cash flow $1.3BFY2023: Net borrowing $567MFY2023: Shares issued $24.4MFY2023: Asset sales $86.5MFY2023: Capital spending −$754MFY2023: Buybacks −$594MFY2023: Dividends −$450M$2.0BFY2023FY2024: Operating cash flow $1.4BFY2024: Net borrowing $95.2MFY2024: Shares issued $39.4MFY2024: Asset sales $140MFY2024: Capital spending −$784MFY2024: Buybacks −$561MFY2024: Dividends −$472M$1.7BFY2024FY2025: Operating cash flow $1.6BFY2025: Net borrowing −$72.8MFY2025: Shares issued $23.6MFY2025: Asset sales $256MFY2025: Capital spending −$895MFY2025: Acquisitions −$140MFY2025: Buybacks −$361MFY2025: Dividends −$488M$1.9BFY2025
Over these 5 years operating cash flow totalled $6.9B; the largest uses were capital spending ($3.8B) and buybacks ($3.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$199M
Debt$150M
Net cash$48.9M

Tractor Supply funds itself: free cash flow was $290M over the last twelve months, and $199M of cash and investments stands against $150M of debt.

Where the cash came from and went

Tractor Supply: sources (+) and uses (−) of cash, Q3 2026Tractor Supply: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$229MCapital spending−$216MDividends−$125MAsset & business sales$90.2MBuybacks−$89.1MNet borrowing (+) / repaid (−)$79.3MCash drawn (+) / kept (−)$32.7MOther financing−$4.5MShares issued$3.4MTaxes on employees’ shares−$596K
Tractor Supply: sources (+) and uses (−) of cash, TTM to Q3 2026Tractor Supply: sources (+) and uses (−) of cash, 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 profit to cash

Tractor Supply: net income to operating cash flow, Q3 2026Tractor Supply: net income to operating cash flow, Q3 2026Net income$225MDepreciation & amortization$133MStock-based pay$15.6MDeferred taxes$10.2MImpairments$33.2MGains on disposals−$40.4MInventory−$100MPayables−$101MAccrued liabilities$36.3MEmployee-related liabilities−$19.0MPrepaid and other assets$81.1MIncome taxes payable$8.8MOther operating capital−$19.4MOperating cash flow$229M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$229M−$216M—−$89.1M−$125M$79.3M$3.4M$32.7M$13.6M
Q2 2026$562M−$233M—−$136M−$126M$29.3M$4.3M−$7.3M$329M
Q1 2026$91.1M−$203M—−$118M−$126M$359M$9.6M−$30.2M−$111M
Q4 2025$325M−$266M—−$117M−$121M$20.2M$5.0M−$9.5M$59.3M
Q3 2025$308M−$278M$41K−$74.0M−$122M$69.0M$7.3M$41.2M$30.3M
Q2 2025$786M−$210M$689K−$72.8M−$122M−$411M$4.3M$5.9M$575M
Q1 2025$217M−$141M−$141M−$95.1M−$122M$249M$7.0M$19.8M$75.5M
Q4 2024$517M−$246M—−$154M−$117M−$3.5M$6.8M−$65.2M$271M

Tractor Supply: income statement and cash flow

Tractor Supply, Q3 2026: revenue $3.9B (+5% year over year), operating margin 7.9%. The chart follows the revenue to costs, profit and cash.

Tractor Supply: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.