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Tractor Supply vs iPower: TSCO and IPW compared
Tractor Supply is the larger company: $3.9B of revenue in its latest quarter (Q3 2026) against $1.4M for iPower (Q4 FY26). Tractor Supply is growing faster (+5% against -86% a year earlier). Tractor Supply is more profitable, with an operating margin of 7.9% against -648.0%.
Where the money goes: TSCO and IPW
Tractor Supply (TSCO) · Q3 2026
Tractor Supply, Q3 2026: revenue $3.9B (+5% year over year), operating margin 7.9%, net earnings $225M, operating cash flow $229M. The chart follows the revenue to costs, profit and cash.
iPower (IPW) · Q4 FY26
iPower, Q4 FY26: revenue $1.4M (-86% year over year), operating margin -648.0%, net loss $6.4M, operating cash flow −$594K. The chart follows the revenue to costs, profit and cash.
| Tractor Supply (TSCO) | iPower (IPW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q4 FY26 |
| Revenue | $3.9B | $1.4M |
| Revenue growth, Y/Y | +5% | -86% |
| Gross margin | 36.4% | — |
| Operating margin | 7.9% | -648.0% |
| Net earnings | $225M | −$6.4M |
| Net margin | 5.7% | -449.4% |
| Operating cash flow | $229M | −$594K |
| Free cash flow | $13.6M | — |
| Market value | $19.1B | — |
| P/E | 19.5× | — |
| Analysts’ mean target | $37.48 | — |
Where the revenue comes from
iPower
- Product: $1.4M (100%)
- Service: $1K (0%)
Questions
Which is bigger, Tractor Supply or iPower?
Tractor Supply is the larger company: $3.9B of revenue in its latest quarter (Q3 2026) against $1.4M for iPower (Q4 FY26).
Is Tractor Supply or iPower growing faster?
Tractor Supply is growing faster (+5% against -86% a year earlier).
Which is more profitable, Tractor Supply or iPower?
Tractor Supply is more profitable, with an operating margin of 7.9% against -648.0%.
More: Tractor Supply earnings · how Tractor Supply makes money · iPower earnings · how iPower makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-K filed Oct 2, 2026). Fiscal quarters can end on different dates. Not investment advice.