Tractor Supply (TSCO) 10-K Summary — Year Ended Dec 27, 2025
Tractor Supply, the largest US rural lifestyle retailer, reported an increase in revenue for its most recent annual period, with net income and operating cash flow also rising. The company completed the acquisition of an online pet pharmacy during the year.
Key takeaway
Year ended Dec 27, 2025 · FY2025 10-K
Tractor Supply, the largest US rural lifestyle retailer, reported an increase in revenue for its most recent annual period, with net income and operating cash flow also rising. The company completed the acquisition of an online pet pharmacy during the year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$15.5B
Revenue reported for the fiscal year.
Operating income
$1.5B
Income from operations reported for the year.
Net income
$1.1B
Net income reported for the year.
Operating cash flow
$1.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $14.2B | +11.6% |
| Dec 30, 2023 | $14.6B | +2.5% |
| Dec 28, 2024 | $14.9B | +2.2% |
| Dec 27, 2025 | $15.5B | +4.3% |
Business overview
Tractor Supply operates retail stores under the names Tractor Supply Company and Petsense by Tractor Supply, primarily in rural communities and towns outside major metropolitan markets. It also sells through mobile apps and online sites including TractorSupply.com, Petsense.com, and Allivet.com. The company serves recreational farmers, ranchers, and rural lifestyle enthusiasts.
Financial performance
Revenue increased compared to the prior year, with operating income and net income also showing growth. Operating cash flow remained strong, supporting the company's expansion and acquisition activities.
Material risks
No specific risk factors were detailed in the provided filing sections.
Liquidity and capital
The company finances its operations and growth through cash from operations, existing debt facilities, and a sale-leaseback program. It believes these sources are sufficient to meet capital expenditure needs for new stores, remodels, and improvements.
What to watch
Monitor the financial impact and integration progress of the recently acquired online pet pharmacy, Allivet.