Tractor Supply (TSCO) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 36.2%
EBITDA Margin: 10.0%
Op. Margin: 6.5%
Net Margin: 4.6%

Op. margin of 6.5% is down 0.7% YoY — costs are rising relative to revenue. Net margin at 4.6% and gross margin of 36.2% — earnings take a bigger bite when COGS stays lean..

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit