Tractor Supply Company (TSCO)财务
NASDAQ · Consumer Cyclical · Specialty Retail · 员工54,000人 · CEO Harry A. Lawton
- 股价
- $33.94 +0.86%
- 市值
- $177亿
- 企业价值
- $242亿
- 最近财报
- Q3 '26 2026-10-22提交
- 下次财报
- 2027-02-04 EPS预期 $0.41
营收(TTM)$159亿+3.5% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)8.6%-1.1 百分点 对比去年同期营业利润 $13.7亿
净利润(TTM)$9.77亿-11.6% 对比去年同期税后,含营业外收益
自由现金流(TTM)$2.9亿-69.5% 对比去年同期资本支出 $9.17亿
稀释EPS(TTM)$1.86-10.6% 对比去年同期最近4个季度之和
净现金-$65.2亿-17.8% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $177亿 EV $242亿
- 营收
- $159亿 过去12个月
- 营收增速
- +3% FY2026年一致预期
- 净利润率
- 6.1% 净利润 / 营收,TTM
- P/E
- 18.2× 预期 17.4×(FY2026)
- P/S
- 1.1× 股价 / 营收,TTM
- EV / EBITDA
- 12.8× TTM
- 自由现金流
- $2.9亿 过去12个月
- 净利润
- $9.77亿 过去12个月
- 营收预期
- $161亿 FY2026年一致预期
- 盈利
- 2027-02-04 营收预期 $40.3亿
- 股息
- $0.95 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-22):营收超预期2.3%,EPS 超预期5.3%营收$39.1亿,预期$38.2亿(+2.3%);EPS $0.43,预期$0.41(+5.3%)。
- 营收增长加速:同比5.1%Q3 '26营收$39.1亿,此前四个季度的平均值为4.1%。
- 营业利润率8.6%(TTM),较去年同期-1.1 百分点营收增长3.5%,营业利润增长-8.0%。
- 税前利润的11.0%被营业外亏损吞噬税前利润$12.3亿,营业利润$13.7亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的5.8%(去年为5.7%)最近4个季度投入$9.17亿(同比+4.8%)。自由现金流$2.9亿,相当于净利润的29.7%。
- 股东回报$9.43亿 = 自由现金流的325.0%回购$4.45亿(去年为$4.14亿),股息$4.98亿,股权激励$6460万(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少2.1%Q3 '26稀释股数5.22亿,一年前为5.33亿。
- 净债务 $65.2亿现金 + 短期投资 $1.99亿,含租赁债务 $67.2亿;一年前净债务 $55.4亿。
上一季度:Q3 '26
截至2026-09-26的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $39.1亿 | $37.2亿 | +5.1% |
| 毛利率 | 33.0% | 37.4% | -4.3 百分点 |
| 营业利润 | $3.08亿 | $3.43亿 | -10.2% |
| 营业利润率 | 7.9% | 9.2% | -1.3 百分点 |
| 净利润 | $2.25亿 | $2.59亿 | -13.3% |
| 稀释EPS | $0.43 | $0.49 | -12.2% |
| 经营现金流 | $2.29亿 | $3.08亿 | -25.5% |
| 资本支出 | $2.16亿 | $2.78亿 | -22.2% |
| 自由现金流 | $1360万 | $3030万 | -55.2% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1560万 | $1530万 | +2.0% |
实际 vs 一致预期
2026-10-22| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $39.1亿 | $38.2亿 | +2.3% |
| EPS(一致预期口径) | $0.43 | $0.41 | +5.3% |
来自2026-10-22发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Livestock, Equine & Agriculture | $14.5亿 | +12.9% | 32.0% | – | – | |
| Companion Animal | $9.54亿 | +2.3% | 21.0% | – | – | |
| Seasonal & Recreation | $11.8亿 | -5.0% | 26.0% | – | – | |
| Clothing, Gift, & Décor | $3.18亿 | +2.3% | 7.0% | – | – | |
| Truck, Tool, & Hardware | $6.36亿 | -4.5% | 14.0% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $12.1亿
- 资本支出
- -$9.17亿
- 股票回购
- -$4.45亿
- 股息
- -$4.98亿
- 收购
- -$1.3亿
- 债务净发行
- $5.58亿
- 股权激励费用
- $6460万
- 自由现金流
- $2.9亿
- 股东回报 / FCF
- 325.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 18.2× | 24.6× | 21.2× – 27.5× |
| EV / EBITDA | 12.8× | 17.1× | 15.0× – 19.3× |
| EV / 营收 | 1.5× | 2.2× | 1.9× – 2.4× |
| 股价 / FCF | 60.9× | 44.0× | 36.8× – 53.7× |
| 股价 / 净资产 | 6.6× | 12.1× | 10.6× – 13.7× |
| FCF收益率 | 1.6% | 2.3% | 1.9% – 2.7% |
| 投入资本回报率 | 11.2% | 15.4% | 13.1% – 17.2% |
| 净资产收益率 | 37.6% | 49.1% | 42.5% – 53.3% |
分析师
一致目标价 $36.63 (+7.9%)
区间 $31.00 – $41.00 · 评级 Buy
强烈买入0
买入25
持有25
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $161亿 | +3.4% | $1.95 | -5.2% | 17.4× | 13 |
| FY2027 | $167亿 | +3.9% | $2.06 | +5.7% | 16.4× | 14 |
| FY2028 | $175亿 | +5.1% | $2.27 | +10.2% | 14.9× | 10 |
| FY2029 | $184亿 | +5.2% | $2.44 | +7.4% | 13.9× | 5 |
| FY2030 | $195亿 | +5.6% | $2.67 | +9.5% | 12.7× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Tractor Supply Company在近期10-Q / 10-K文件中标记的全部215项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $17.6亿 | $15.2亿 | +15.9% | $13.9亿 | $12.4亿 | +12.5% |
| Accrued Income Taxes, Current | $165万 | $1.43亿 | -98.9% | $02023-12-30 | $947万 | -100.0% |
| Accrued Liabilities, Current | $8.79亿 | $6.14亿 | +43.1% | $6.53亿 | $5.82亿 | +12.3% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $30.2亿2025-12-27 | $26.4亿 | +14.2% | $30.2亿 | $26.4亿 | +14.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $0 | $0 | – | $0 | $122万 | -100.0% |
| Additional Paid in Capital, Common Stock | $14.7亿 | $14亿 | +5.3% | $14.4亿 | $13.8亿 | +4.7% |
| Advertising Expense | – | – | – | $1.08亿 | $9520万 | +13.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 470万 | 130万 | +261.5% | 80万 | 90万 | -11.1% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $1550万 | $1280万 | +21.8% | $5710万 | $4840万 | +18.0% |
| Asset Impairment Charges | $6270万 | $0 | – | $02024-12-28 | $0 | – |
| Assets | $122亿 | $106亿 | +15.2% | $109亿 | $98.1亿 | +11.5% |
| Assets, Current | $42.5亿 | $35.4亿 | +20.1% | $35.1亿 | $33.1亿 | +6.0% |
| Buildings and Improvements, Gross | $25.8亿2025-12-27 | $24.3亿 | +6.0% | $25.8亿 | $24.3亿 | +6.0% |
| Cash and Cash Equivalents, at Carrying Value | $2.32亿 | $2.26亿 | +2.6% | $1.94亿 | $2.51亿 | -22.8% |
| Cash Flow Hedge Derivative Instrument Assets at Fair Value | $02025-12-27 | $160万 | -100.0% | $0 | $160万 | -100.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.32亿 | $2.26亿 | +2.6% | $1.94亿 | $2.51亿 | -22.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | $732万 | -$591万 | +223.9% | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | – | – | – | -$5740万 | -$1.46亿 | +60.6% |
| Common Stock, Dividends, Per Share, Declared | $0.24 | $0.23 | +4.3% | $0.92 | $0.88 | +4.5% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 20亿 | 20亿 | 0.0% | 20亿 | 4亿 | +400.0% |
| Common Stock, Shares, Issued | 8.92亿 | 8.91亿 | +0.2% | 8.91亿 | 8.9亿 | +0.2% |
| Common Stock, Shares, Outstanding | 5.22亿 | 5.3亿 | -1.5% | 5.27亿 | 5.32亿 | -1.0% |
| Common Stock, Value, Issued | $714万 | $712万 | +0.2% | $713万 | $712万 | +0.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $3.61亿 | $4.3亿 | -16.1% | $10.9亿 | $11亿 | -0.1% |
| Construction in Progress Expenditures Incurred but Not yet Paid | $481万 | $4610万 | -89.6% | $1.23亿 | $8230万 | +49.0% |
| Construction in Progress, Gross | $4.97亿2025-12-27 | $2.67亿 | +86.1% | $4.97亿 | $2.67亿 | +86.1% |
| Contractual Obligation | $3480万 | – | – | – | – | – |
| Cost of Goods and Services Sold | $28.6亿 | $28亿 | +2.1% | $98.7亿 | $94.9亿 | +4.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $2.13亿 | $2.93亿 | -27.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $2.41亿 | $3.32亿 | -27.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2810万 | $3910万 | -28.2% |
| Customer Loyalty Program Liability, Current | $2430万2025-12-27 | $1790万 | +35.8% | $2430万 | $1790万 | +35.8% |
| Debt Instrument, Basis Spread on Variable Rate | 0.0% | 0.0% | – | 0.1%2021-12-25 | 0.1% | 0.0% |
| Debt Instrument, Redemption Price, Percentage | – | – | – | 100.0%2019-12-28 | – | – |
| Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed | – | – | – | 101.0%2020-10-30 | – | – |
| Debt Instrument, Unused Borrowing Capacity, Amount | $3亿2025-12-27 | $3亿 | 0.0% | $3亿 | $3亿 | 0.0% |
| Debt Issuance Costs, Net | $1620万 | $1650万 | -1.8% | $1500万 | $1800万 | -16.7% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $4500万 | -$1430万 | +415.5% |
| Deferred Income Tax Expense (Benefit) | -$2650万 | -$2570万 | -3.0% | $6130万 | -$2260万 | +371.1% |
| Deferred Income Tax Liabilities, Net | $1亿 | $1980万 | +404.6% | $9500万 | $4430万 | +114.4% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $1630万 | -$606万 | +368.3% |
| Deferred Tax Assets, Inventory | $3900万2025-12-27 | $3630万 | +7.5% | $3900万 | $3630万 | +7.5% |
| Deferred Tax Assets, Net of Valuation Allowance | $11.9亿2025-12-27 | $10.8亿 | +10.6% | $11.9亿 | $10.8亿 | +10.6% |
| Deferred Tax Assets, Other | $4970万2025-12-27 | $5010万 | -0.9% | $4970万 | $5010万 | -0.9% |
| Deferred Tax Assets, Property, Plant and Equipment | $2230万2025-12-27 | $2180万 | +2.5% | $2230万 | $2180万 | +2.5% |
| Deferred Tax Assets, Tax Credit Carryforwards | $1620万2025-12-27 | $2020万 | -20.0% | $1620万 | $2020万 | -20.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $2310万2025-12-27 | $1940万 | +19.1% | $2310万 | $1940万 | +19.1% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Self Insurance | $1760万2025-12-27 | $1670万 | +5.3% | $1760万 | $1670万 | +5.3% |
| Deferred Tax Assets, Valuation Allowance | $02025-12-27 | $0 | – | $0 | $0 | – |
| Deferred Tax Liabilities, Gross | $12.6亿2025-12-27 | $10.8亿 | +16.7% | $12.6亿 | $10.8亿 | +16.7% |
| Deferred Tax Liabilities, Net | $7280万2025-12-27 | $549万 | +1,226.2% | $7280万 | $549万 | +1,226.2% |
| Deferred Tax Liabilities, Other | $3160万2025-12-27 | $2550万 | +24.0% | $3160万 | $2550万 | +24.0% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $2.38亿2025-12-27 | $2.2亿 | +8.1% | $2.38亿 | $2.2亿 | +8.1% |
| Defined Contribution Plan, Cost | – | – | – | $2210万 | $2010万 | +10.0% |
| Depreciation, Depletion and Amortization | – | – | – | $4.94亿 | $4.47亿 | +10.5% |
| Depreciation, Depletion and Amortization, Nonproduction | $1.31亿 | $1.22亿 | +7.2% | $4.94亿 | $4.47亿 | +10.5% |
| Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units | $0 | $0 | – | $0 | $0 | – |
| Dividends | $1.26亿 | $1.22亿 | +3.0% | $4.88亿 | $4.72亿 | +3.2% |
| Earnings Per Share, Basic | $0.69 | $0.81 | -14.8% | $2.07 | $2.05 | +1.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-27, 10-Q 2026-03-28, 10-K 2025-12-27, 10-Q 2025-09-27, 10-Q 2025-06-28, 10-Q 2025-03-29, 10-K 2024-12-28, 10-Q 2024-09-28, 10-Q 2024-06-29
数据截至 2026-11-02