Main sectors for revenues:

1. Agricultural equipment and accessories
2. Pet supplies
3. Garden and landscaping products

TOP 3 markets and their percentage shares:

1. USA: approx. 90%
2. Canada: approx. 5%
3. Online sales: approx. 5%

Tractor Supply Company generates the majority of its revenues from the sale of agricultural equipment, pet supplies, and garden products. The U.S. market is by far the largest and most important market for the company, followed by Canada. Online sales are becoming increasingly important, as reflected in a growing share of total revenue.

Production Sites: USA, China, and other international partners

Tractor Supply Company sources its products from a mix of domestic and international sources. A large portion of production takes place in the USA to efficiently serve local demand and optimize supply chains. Additionally, the company collaborates with international partners, especially in China, to cost-effectively manufacture certain product lines.

This strategy enables Tractor Supply Company to offer a wide range of products that are both high quality and competitively priced. Diversifying production sites helps the company minimize risks in the supply chain and respond flexibly to market changes.

Revenue growth: 8.4% (2024) Profit growth: 10.1% (2024)

Tractor Supply Company is pursuing a multi-pronged growth strategy based on expanding its physical presence, enhancing its e-commerce offerings, and strengthening customer loyalty. The company plans to steadily increase its number of stores in the coming years to expand its market presence, particularly in rural and suburban areas.

Another focus is on digitalization and improving the online shopping experience. By investing in technology and logistics, Tractor Supply aims to provide customers with a seamless omnichannel service that includes both brick-and-mortar retail and online sales.

Additionally, the company is expanding its product range and introducing new brands to offer customers a wider selection and differentiate itself from competitors. Sustainability and community engagement are also key elements of the strategy to enhance customer loyalty and improve the brand image.

Main raw materials: Steel, wood, plastic, textiles
Main importing countries: China, Canada, Mexico, Vietnam

Tractor Supply Company sources a variety of raw materials and materials necessary for its product range. Steel and wood are essential materials for agricultural equipment and construction products, while plastics and textiles are used for household goods and clothing.

China is a significant supplier of many of these raw materials, especially for steel and plastic products, due to its extensive production capacities and cost-effective manufacturing processes. Canada and Mexico are also important trading partners, especially for wood and agricultural products, due to their geographical proximity and trade agreements with the USA.

Vietnam has emerged as a significant supplier of textiles in recent years, attributed to competitive production costs and increasing product quality.

Market share: 8% in retail for rural lifestyles (2024, estimate)

Revenue growth: 6.5% (2024)

Gross margin: 35.2% (2024)

Tractor Supply Company (TSCO) has a significant competitive advantage in retail for rural lifestyles. The company benefits from its specialized product range tailored to the needs of farmers, animal owners, and rural households.

A key factor for the competitive advantage is the extensive store network, ensuring a strong presence in rural areas. This allows TSCO to build a loyal customer base and benefit from low competition in these regions.

Furthermore, strong brand awareness and high customer satisfaction contribute to market leadership. Continuous investments in e-commerce and omnichannel solutions further strengthen the market position and enable the company to remain competitive in an increasingly digital environment.

Institutional investor share: 85% (estimated, 2025)
Insider purchases/sales: No significant transactions in the last quarter (2025)

The institutional investor share in Tractor Supply Company is approximately 85%, indicating a high level of confidence from institutional investors in the company. These investors often include pension funds, investment funds, and other large financial institutions that pursue long-term investment strategies.

There were no significant insider purchases or sales in the last quarter, suggesting that the management and other insiders are currently not making significant changes to their holdings. This can be interpreted as a sign of stability and confidence in the current company strategy.

Market share of Tractor Supply Company: Estimate around 10% (2025)

Main competitors and their market shares:

1. Home Depot: Estimate around 25%
2. Lowe's: Estimate around 20%
3. Tractor Supply Company: Estimate around 10%
4. Ace Hardware: Estimate around 8%
5. True Value: Estimate around 5%

Moat of Tractor Supply Company:

Tractor Supply Company has a significant moat due to its specialized focus on rural markets and agricultural products. This allows the company to serve a niche that is not covered to the same extent by larger retailers like Home Depot and Lowe's.

The focus on a specific customer segment, including agricultural businesses and rural households, provides Tractor Supply with an advantage in terms of customer loyalty and brand loyalty. Additionally, the company benefits from a well-established distribution network and strong brand awareness in its segment.

In comparison, Home Depot and Lowe's have a broader product catalog and a larger geographic reach, giving them an advantage in urban and suburban markets. These companies have significant resources to invest in technology and customer experience, strengthening their moat in terms of economies of scale and innovation power.

Overall, Tractor Supply has a clear advantage in its niche, while the larger competitors dominate in other areas due to their size and resources.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Market Share in Retail for Rural Lifestyles: 15% (2024)

Tractor Supply Company achieved solid revenue growth of 8.5% in 2024, attributed to strong demand for products catering to rural lifestyles and effective expansion into new markets. The profit growth of 10.2% indicates that the company was also successful in increasing its profitability, pointing to efficient cost controls and improved operational efficiency.

The company expanded its market share in retail for rural lifestyles to 15%, highlighting its leading position in this segment. Continuous investment in e-commerce and enhancing customer experience also contribute to the positive development.

Overall, these factors suggest that Tractor Supply Company is pursuing a stable growth strategy, positioning the company well for future growth. This could make the stock an attractive investment for investors interested in long-term growth.

Dividend yield: 1.8% (2025, estimated)
Dividend growth: 5% per year (average over the last 5 years)

Tractor Supply Company regularly pays out a dividend. The dividend yield is currently around 1.8%, which is considered solid in the industry. Over the past years, the company has shown a steady dividend growth of an average of 5% per year, indicating a reliable payout policy.

The reliability of dividend payments is supported by the company's stable financial performance. Tractor Supply Company has consistently generated profits in the past and has a healthy cash flow that secures the dividend payments. Analysts expect the company to be able to continue its dividend policy in the future.