Tractor Supply Management
Management criteria checks 2/4
Tractor Supply's CEO is Hal Lawton, appointed in Jan 2020, has a tenure of 6.33 years. total yearly compensation is $32.28M, comprised of 4.2% salary and 95.8% bonuses, including company stock and options. directly owns 0.073% of the company’s shares, worth $12.52M. The average tenure of the management team and the board of directors is 7 years and 7.3 years respectively.
Key information
Hal Lawton
Chief executive officer
US$32.3m
Total compensation
| CEO salary percentage | 4.16% |
| CEO tenure | 6.3yrs |
| CEO ownership | 0.07% |
| Management average tenure | 7yrs |
| Board average tenure | 7.3yrs |
Recent management updates
Recent updates
Narrative Update • May 01
TSCO: Dividend And Buyback Commitment Will Support Future Share Returns
Analysts have trimmed their price target on Tractor Supply to reflect a fair value of $47.52, down from $56.37, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E multiples. What's in the News Tractor Supply reaffirmed earnings guidance for fiscal 2026, with net sales growth targeted at 4% to 6%, comparable store sales at 1% to 3%, an operating margin rate of 9.3% to 9.6%, net income of US$1.11b to US$1.17b, and earnings per diluted share of US$2.13 to US$2.23 (Company guidance).Seeking Alpha • Apr 26
Tractor Supply: Unclear Future Ahead
Summary Short-term stock underperformance presents an attractive entry point for long-term dividend investors, given the historically high yield. Recent earnings and fundamentals remain supportive of the investment thesis, despite near-term weakness. Dividend stability is a key pillar, reinforcing the stock’s appeal for income-focused portfolios. Based on a conservative valuation approach using expectations for earnings and CAPM, TSCO is trading close to fair value after the sell-off. There may be continued stock underperformance in the short term, but investors should focus on future guidance from the company before panicking. Read the full article on Seeking AlphaAnalysis Article • Apr 23
Tractor Supply Company Just Missed EPS By 9.0%: Here's What Analysts Think Will Happen Next
It's been a mediocre week for Tractor Supply Company ( NASDAQ:TSCO ) shareholders, with the stock dropping 13% to...Narrative Update • Apr 17
TSCO: Dividend Growth And Buybacks Will Support Future Share Price
Analysts have trimmed their price target on Tractor Supply by about $1.22 to reflect slightly adjusted fair value, a marginally higher discount rate, and modest tweaks to revenue growth, profit margin, and future P/E assumptions. What's in the News The board approves an increase in the annual dividend to $0.96 per share for 2026, up $0.04 year over year.Narrative Update • Apr 02
TSCO: Store Expansion And Rising Capital Returns Will Support Future Share Price
Analysts have kept their price target for Tractor Supply steady at about $58. This reflects largely unchanged assumptions around long term revenue growth, profit margins, and future P/E, with only minor tweaks to discount rate inputs.Narrative Update • Mar 19
TSCO: Store Expansion And Capital Returns Will Support Future Share Price Upside
Analysts have modestly adjusted their price target for Tractor Supply to reflect small changes in discount rate, revenue growth, profit margin and future P/E assumptions. This has resulted in a slightly updated fair value estimate that remains around $58 per share.Narrative Update • Mar 04
TSCO: Store Expansion And Capital Returns Will Drive Future Shareholder Upside
Analysts have modestly revised their price target on Tractor Supply, citing small adjustments to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions. Together, these changes translate into a slightly different implied valuation from the prior $57.59 fair value estimate.Narrative Update • Feb 18
TSCO: Store Expansion And Capital Returns Will Support Steady Long-Term Outlook
Analysts have modestly adjusted their price target on Tractor Supply to reflect a slightly lower discount rate, a stable fair value estimate of about $57.59, and small tweaks to assumed profit margin and future P/E. This signals an updated view of the stock's risk and earnings profile without a major shift in valuation.Narrative Update • Feb 04
TSCO: Store Expansion And Guidance Will Offset Legal And Margin Pressures
Analysts have trimmed their Tractor Supply price target by about $4 per share, as they now apply slightly lower assumptions for revenue growth, profit margins and future P/E multiples. What's in the News Repurchased 2,200,000 shares from September 28, 2025 to December 27, 2025, representing 0.42% of shares for $117.5m.Narrative Update • Jan 21
TSCO: New Store Expansion And Outdoor Offerings Will Support Future Upside
Analysts reduced their implied fair value estimate for Tractor Supply from about US$63.15 to US$61.22. They cited slightly softer revenue growth assumptions, a modestly higher discount rate, a small change in forecast profit margins, and a lower future P/E multiple in their updated models.Analysis Article • Jan 06
Is Tractor Supply Company (NASDAQ:TSCO) Worth US$49.8 Based On Its Intrinsic Value?
Key Insights Using the 2 Stage Free Cash Flow to Equity, Tractor Supply fair value estimate is US$37.75 Current share...Narrative Update • Jan 06
TSCO: Expanded Outdoor Offerings And Ongoing Buybacks Will Support Future Upside
Analysts have made a small trim to their Tractor Supply fair value estimate to $63.15 from $63.44, reflecting slightly adjusted assumptions around the discount rate, long term profit margin and future P/E while keeping revenue growth expectations effectively unchanged. What's in the News Cree LED filed a patent infringement lawsuit in the U.S. District Court for the Northern District of Illinois against Promier Products and Tractor Supply related to certain portable lighting products, citing multiple U.S. patents covering portable lighting designs and performance (Lawsuits & Legal Issues).Narrative Update • Dec 20
TSCO: Expanded Outdoor Product Lineup Will Drive Future Earnings Upside
Narrative Update on Tractor Supply Analyst Price Target Analysts have nudged their fair value estimate for Tractor Supply slightly lower from approximately $63.74 to $63.44 per share, reflecting a modestly higher discount rate that more than offsets unchanged expectations for revenue growth, profit margins, and future valuation multiples. What's in the News Cree LED filed a patent infringement lawsuit against Tractor Supply and Promier Products in the U.S. District Court for the Northern District of Illinois, alleging unauthorized use of multiple Cree LED portable lighting patents in certain products sold by Tractor Supply (Key Developments).Narrative Update • Dec 06
TSCO: Expanded Outdoor Offerings Will Drive Future Earnings Upside
Narrative Update on Tractor Supply Analysts have raised their fair value estimate for Tractor Supply modestly, from approximately 63.52 dollars to 63.74 dollars per share. They cite slightly higher expected profit margins and a marginally richer future earnings multiple, which more than offset a small trim to projected revenue growth and a higher discount rate.Narrative Update • Nov 22
TSCO: Expanding Outdoor Offerings And Rising Margins Will Drive Future Upside
Analysts have maintained their price target for Tractor Supply at $63.52, with only marginal adjustments to key assumptions such as discount rate, revenue growth, and future profit margin. This reflects continued confidence in the company's outlook.Narrative Update • Nov 07
TSCO: Improved Profit Margins And Expanding Product Lines Will Drive Upside
Narrative Update on Tractor Supply: Analyst Price Target Revision Analysts have slightly raised their price target for Tractor Supply, increasing the estimated fair value from $63.30 to $63.52. This change is attributed to marginal improvements in profit margin and future price-to-earnings expectations.Analysis Article • Oct 28
Tractor Supply Company (NASDAQ:TSCO) Just Released Its Third-Quarter Results And Analysts Are Updating Their Estimates
Last week saw the newest third-quarter earnings release from Tractor Supply Company ( NASDAQ:TSCO ), an important...Narrative Update • Oct 24
Share Repurchases And New Partnerships Will Drive Resilience And Earnings Momentum
Analysts have slightly increased their price target for Tractor Supply to $63.30 from $62.59. This adjustment is based on minor improvements in projected profit margins and fair value estimates.Analysis Article • Sep 29
Is Tractor Supply (NASDAQ:TSCO) A Risky Investment?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Jun 19
Tractor Supply's (NASDAQ:TSCO) Returns Have Hit A Wall
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • May 29
Is Tractor Supply (NASDAQ:TSCO) Using Too Much Debt?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Seeking Alpha • Jan 31
Tractor Supply: Dividends From The Countryside
Summary Tractor Supply Company is a unique holding in my portfolio, maintaining resilience and growth amidst retail sector shifts. Tractor Supply caters to high-income rural lifestyle enthusiasts, ensuring frequent store visits and stable revenue. The company is expanding, adding 80–90 stores annually, enhancing digital sales, and remodeling existing stores for higher margins. In this article, we will go over the main points of the latest earnings release while understanding the 2025 trajectory TSCO wants to follow. Read the full article on Seeking AlphaSeeking Alpha • Jan 16
Reversing My View On Tractor Supply: I'm Buying (Rating Upgrade)
Summary I was wrong about Tractor Supply; it's a compelling investment with a strong risk premium, despite some concerns about buybacks and rising debt. Financial results show slowing growth and deteriorating capital structure, but the dividend is well-covered and has grown impressively over the past 14 years. Valuation is key; the stock offers a 74% margin of safety over Treasury Notes, making it a rare, attractive risk-adjusted return. I'm buying a small position now and may increase it after a deeper review of the dividend sustainability when the 10-K is published. Read the full article on Seeking AlphaSeeking Alpha • Dec 07
Rural Riches - Why Tractor Supply Is A Dividend Stock Worth Owning
Summary Tractor Supply Company has outperformed Home Depot and the S&P 500 since 2019 due to its unique "Life Out Here" strategy. TSCO focuses on rural lifestyle products, catering to recreational farmers and outdoor enthusiasts, differentiating itself from Home Depot's home improvement and professional contractor market. TSCO has achieved nearly 20% average annual EPS growth over the past two decades, with robust performance even during economic downturns. TSCO's ongoing business model improvements and strategic initiatives, including a 5-1 stock split, position it for continued success and investor excitement. Read the full article on Seeking AlphaSeeking Alpha • Nov 17
Tractor Supply Company: Cautious Heading Into Q4
Summary I maintain a HOLD rating on TSCO due to its current overvaluation and items outside the company's control. TSCO's Q3 2024 earnings were largely in line with expectations, but the stock is trading at a 20% premium to historical multiples. The shift from retail to services spending and unseasonably warm weather pose risks to TSCO's near-term performance. Potential tailwinds include increased free cash flow after Project Fusion and expanded TAM with the Allivet acquisition, but these are longer-term benefits. Read the full article on Seeking AlphaSeeking Alpha • Sep 15
Tractor Supply: Loyalty Program Improves Customer Engagement
Summary Tractor Supply's stock has surged over 270% since my 'Buy' rating in 2015, outperforming the S&P 500, with a new target price of $310. The acquisition of Orscheln Farm and Home enhances Tractor Supply's Midwest presence, strengthens supply chain, and eliminates a regional competitor. Despite weak consumer sentiment, Tractor Supply's Neighbor's Club loyalty program shows strong engagement, with 36 million members and growing store traffic. I estimate 8% total revenue growth, driven by same store sales and new store openings, with a one-year target price of $310 per share. Read the full article on Seeking AlphaSeeking Alpha • Aug 14
Tractor Supply: More Than A 'Discretionary Goods' Retailer
Summary Tractor Supply is a leading retailer in the rural lifestyle sector, catering to farmers and pet owners with non-discretionary goods. Q2 2024 earnings showed a slight increase in net sales, with a loyal customer base offsetting soft consumer spending. Tractor Supply's balance sheet is healthy, with a focus on generating free cash flow and returning capital to shareholders. In this article, I update my research on the company and share what I am doing with my position. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 28 2026 | n/a | n/a | US$1b |
| Dec 27 2025 | US$32m | US$1m | US$1b |
| Sep 27 2025 | n/a | n/a | US$1b |
| Jun 28 2025 | n/a | n/a | US$1b |
| Mar 29 2025 | n/a | n/a | US$1b |
| Dec 28 2024 | n/a | n/a | US$1b |
| Sep 28 2024 | n/a | n/a | US$1b |
| Jun 29 2024 | n/a | n/a | US$1b |
| Mar 30 2024 | n/a | n/a | US$1b |
| Dec 30 2023 | n/a | n/a | US$1b |
| Sep 30 2023 | n/a | n/a | US$1b |
| Jul 01 2023 | n/a | n/a | US$1b |
| Apr 01 2023 | n/a | n/a | US$1b |
| Dec 31 2022 | US$10m | US$1m | US$1b |
| Sep 24 2022 | n/a | n/a | US$1b |
| Jun 25 2022 | n/a | n/a | US$1b |
| Mar 26 2022 | n/a | n/a | US$1b |
| Dec 25 2021 | US$11m | US$1m | US$997m |
| Sep 25 2021 | n/a | n/a | US$912m |
| Jun 26 2021 | n/a | n/a | US$878m |
| Mar 27 2021 | n/a | n/a | US$847m |
| Dec 26 2020 | US$16m | US$1m | US$749m |
Compensation vs Market: Hal's total compensation ($USD32.28M) is above average for companies of similar size in the US market ($USD14.74M).
Compensation vs Earnings: Hal's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
CEO
Hal Lawton (51 yo)
6.3yrs
Tenure
US$32,277,194
Compensation
Mr. Harry A. Lawton, III, also known as Hal, serves as a Director at Nashville Area Chamber Of Commerce from September 2022. He serves as a Director at Wayfair Inc. since November 6, 2025. He serves as Pre...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.3yrs | US$32.28m | 0.073% $ 12.5m | |
| Executive VP | 9.2yrs | US$3.28m | 0.0086% $ 1.5m | |
| Executive VP | 7.8yrs | US$2.64m | 0.021% $ 3.6m | |
| Executive VP & Chief Stores Officer | 10.8yrs | US$2.23m | 0.017% $ 2.9m | |
| Executive VP & Chief Merchandising Officer | 9.1yrs | US$2.52m | 0.013% $ 2.2m | |
| Senior Vice President of Investor Relations & Public Relations | 8.3yrs | no data | no data | |
| Interim General Counsel & Corporate Secretary | less than a year | no data | no data | |
| Senior VP & Chief Marketing Officer | 3.8yrs | no data | 0.0026% $ 451.7k | |
| Executive VP & Chief Human Resources Officer | 5.8yrs | US$3.31m | 0.0060% $ 1.0m | |
| Executive VP & Chief Supply Chain Officer | 10.5yrs | no data | 0.0066% $ 1.1m | |
| Senior Vice President & President of Digital | 5.3yrs | no data | 0.0053% $ 898.3k | |
| Senior Vice President & General Merchandise Manager | 1yr | no data | no data |
7.0yrs
Average Tenure
50.5yo
Average Age
Experienced Management: TSCO's management team is seasoned and experienced (7 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.3yrs | US$32.28m | 0.073% $ 12.5m | |
| Chairman Emeritus | 18.5yrs | US$1.20m | no data | |
| Independent Director | 8yrs | US$289.98k | 0.00010% $ 17.1k | |
| Independent Chairman | 22.3yrs | US$460.00k | 0.059% $ 10.1m | |
| Independent Director | 12.3yrs | US$301.98k | 0.0076% $ 1.3m | |
| Independent Director | 3.8yrs | US$286.98k | 0.0012% $ 207.0k | |
| Independent Director | 2.8yrs | US$269.98k | 0.0012% $ 203.6k | |
| Independent Director | 7.3yrs | US$306.98k | 0.0039% $ 669.0k | |
| Independent Director | less than a year | no data | no data | |
| Independent Director | 9.5yrs | US$269.98k | 0.0039% $ 670.8k | |
| Independent Director | 5.3yrs | US$286.98k | 0.00098% $ 167.7k |
7.3yrs
Average Tenure
59yo
Average Age
Experienced Board: TSCO's board of directors are considered experienced (7.3 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 17:27 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2026/03/28 |
| Annual Earnings | 2025/12/27 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Tractor Supply Company is covered by 49 analysts. 27 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Deborah Ciervo | Argus Research Company |
| Peter Benedict | Baird |
| Helen Pan | Barclays |