The Discounted Cash Flow (DCF) valuation of Tractor Supply Co (TSCO) is 53.24 USD. With the latest stock price at 56.79 USD, the upside of Tractor Supply Co based on DCF is -6.3%.

Is TSCO a buy or a sell?

Based on the latest price of 56.79 USD and our DCF valuation, Tractor Supply Co (TSCO) is a sell. Selling TSCO stocks now will result in a potential gain of 6.3%.

	Range	Selected
WACC / Discount Rate	7.5% - 10.4%	9.0%
Long-term Growth Rate	2.0% - 4.0%	3.0%
Fair Price	38.08 - 88.95	53.24
Upside	-32.9% - 56.6%	-6.3%

56.79 USD

Stock Price

53.24 USD

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

TSCO DCF Valuation: Revenue & Expenses Forecast

(USD in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	14,883	15,199	16,262	17,643	19,163	20,505
% Growth	2%	2%	7%	8%	9%	7%

Cost of goods sold	(9,487)	(9,494)	(9,955)	(10,584)	(11,266)	(11,814)
% of Revenue	64%	62%	61%	60%	59%	58%

Selling, G&A expenses	(3,482)	(3,556)	(3,804)	(4,127)	(4,483)	(4,797)
% of Revenue	23%	23%	23%	23%	23%	23%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(502)	(512)	(548)	(595)	(646)	(691)
% of Revenue	3%	3%	3%	3%	3%	3%

Tax expense	(312)	(368)	(439)	(525)	(622)	(720)
Tax rate	22%	22%	22%	22%	22%	22%

Net profit	1,101	1,269	1,515	1,811	2,146	2,483
% Margin	7%	8%	9%	10%	11%	12%