Company / Operating Margin
Tractor Supply Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
9.4%
FY2025
5-year range
9.4% / 10.3%
FY2021-FY2025
Trend
-4.2%
vs FY2024
Sector context
#83 of 185
Consumer Discretionary
What the data says
At 9.4%, Tractor Supply's operating margin ranks #83 of 185 in the Consumer Discretionary sector. Operating Margin has fluctuated over the past 10 years, ranging from 8.9% in FY2018 to 10.3% in FY2021.
Based on SEC 10-K filings.
9.4% in FY2025 with a 5-year CAGR of +0.1%.
Declined from 10.2% to 9.4% over the past 2 years.
Consumer Discretionary sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- -0.7pp
- 5-Year Change
- +0.1pp
- 10-Year Change
- -
Sector benchmark
#83 of 185 in Consumer DiscretionaryTop 45% of 185This company 9.4% Sector average 3.3%
▼
+183.3% above sector average
Key checks
Key Insights
- In FY2025, operating margin decreased 4.2% year-over-year.
- Currently 6.1pp above the Consumer Discretionary sector average.
- Peak operating margin was recorded in FY2021.
- Lowest operating margin in the period was in FY2018.
Company context
Key Data Points
- High earnings quality (cash-backed earnings)
- Strong return on equity: 43.0%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 9.4% | -4.2% |
| FY2024 | 9.9% | -3.0% |
| FY2023 | 10.2% | +0.6% |
| FY2022 | 10.1% | -1.6% |
| FY2021 | 10.3% | +9.3% |
| FY2020 | 9.4% | +5.5% |
| FY2019 | 8.9% | +0.3% |
| FY2018 | 8.9% | -6.2% |
| FY2017 | 9.5% | -7.6% |
| FY2016 | 10.2% | -2.0% |
As of FY2025 · SEC 10-K · Updated Mar 17, 2026