Intrinsic value of Tractor Supply - TSCO

Previous Close

$80.90

  Intrinsic Value

$75.53

stock screener

  Rating & Target

hold

-7%

Previous close

$80.90

 
Intrinsic value

$75.53

 
Up/down potential

-7%

 
Rating

hold

We calculate the intrinsic value of TSCO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.88
  11.60
  10.94
  10.35
  9.81
  9.33
  8.90
  8.51
  8.16
  7.84
  7.56
  7.30
  7.07
  6.86
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
Revenue, $m
  6,780
  7,566
  8,394
  9,263
  10,172
  11,121
  12,110
  13,140
  14,212
  15,326
  16,485
  17,688
  18,939
  20,239
  21,590
  22,996
  24,458
  25,980
  27,565
  29,217
  30,938
  32,733
  34,606
  36,561
  38,603
  40,737
  42,967
  45,298
  47,737
  50,289
  52,959
Variable operating expenses, $m
 
  6,771
  7,510
  8,286
  9,097
  9,945
  10,829
  11,749
  12,706
  13,701
  14,736
  15,798
  16,915
  18,076
  19,283
  20,539
  21,845
  23,204
  24,620
  26,095
  27,632
  29,235
  30,908
  32,654
  34,478
  36,384
  38,375
  40,458
  42,636
  44,915
  47,300
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  6,086
  6,771
  7,510
  8,286
  9,097
  9,945
  10,829
  11,749
  12,706
  13,701
  14,736
  15,798
  16,915
  18,076
  19,283
  20,539
  21,845
  23,204
  24,620
  26,095
  27,632
  29,235
  30,908
  32,654
  34,478
  36,384
  38,375
  40,458
  42,636
  44,915
  47,300
Operating income, $m
  694
  796
  884
  977
  1,074
  1,176
  1,281
  1,392
  1,506
  1,625
  1,749
  1,890
  2,024
  2,163
  2,307
  2,457
  2,614
  2,776
  2,946
  3,122
  3,306
  3,498
  3,698
  3,907
  4,125
  4,353
  4,591
  4,840
  5,101
  5,374
  5,659
EBITDA, $m
  837
  957
  1,061
  1,171
  1,286
  1,406
  1,531
  1,661
  1,797
  1,938
  2,084
  2,236
  2,394
  2,559
  2,729
  2,907
  3,092
  3,284
  3,485
  3,693
  3,911
  4,138
  4,375
  4,622
  4,880
  5,150
  5,432
  5,726
  6,035
  6,357
  6,695
Interest expense (income), $m
  6
  10
  15
  20
  26
  31
  37
  43
  50
  57
  64
  71
  78
  86
  94
  103
  112
  121
  130
  140
  150
  161
  172
  184
  196
  209
  222
  236
  251
  266
  282
Earnings before tax, $m
  688
  786
  869
  957
  1,049
  1,144
  1,244
  1,348
  1,456
  1,569
  1,685
  1,819
  1,945
  2,077
  2,213
  2,355
  2,502
  2,656
  2,815
  2,982
  3,156
  3,337
  3,526
  3,723
  3,929
  4,144
  4,369
  4,604
  4,850
  5,108
  5,377
Tax expense, $m
  251
  212
  235
  258
  283
  309
  336
  364
  393
  424
  455
  491
  525
  561
  597
  636
  676
  717
  760
  805
  852
  901
  952
  1,005
  1,061
  1,119
  1,180
  1,243
  1,310
  1,379
  1,452
Net income, $m
  437
  574
  635
  699
  766
  835
  908
  984
  1,063
  1,145
  1,230
  1,328
  1,420
  1,516
  1,615
  1,719
  1,827
  1,939
  2,055
  2,177
  2,304
  2,436
  2,574
  2,718
  2,868
  3,025
  3,189
  3,361
  3,541
  3,729
  3,925

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  54
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,675
  2,925
  3,245
  3,580
  3,932
  4,299
  4,681
  5,079
  5,494
  5,924
  6,372
  6,837
  7,321
  7,823
  8,346
  8,889
  9,454
  10,043
  10,655
  11,294
  11,959
  12,653
  13,377
  14,133
  14,922
  15,747
  16,609
  17,510
  18,453
  19,439
  20,471
Adjusted assets (=assets-cash), $m
  2,621
  2,925
  3,245
  3,580
  3,932
  4,299
  4,681
  5,079
  5,494
  5,924
  6,372
  6,837
  7,321
  7,823
  8,346
  8,889
  9,454
  10,043
  10,655
  11,294
  11,959
  12,653
  13,377
  14,133
  14,922
  15,747
  16,609
  17,510
  18,453
  19,439
  20,471
Revenue / Adjusted assets
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
  2.587
Average production assets, $m
  905
  1,006
  1,116
  1,232
  1,353
  1,479
  1,611
  1,748
  1,890
  2,038
  2,192
  2,353
  2,519
  2,692
  2,872
  3,058
  3,253
  3,455
  3,666
  3,886
  4,115
  4,353
  4,603
  4,863
  5,134
  5,418
  5,715
  6,025
  6,349
  6,688
  7,044
Working capital, $m
  741
  779
  865
  954
  1,048
  1,145
  1,247
  1,353
  1,464
  1,579
  1,698
  1,822
  1,951
  2,085
  2,224
  2,369
  2,519
  2,676
  2,839
  3,009
  3,187
  3,372
  3,564
  3,766
  3,976
  4,196
  4,426
  4,666
  4,917
  5,180
  5,455
Total debt, $m
  301
  430
  578
  733
  895
  1,065
  1,242
  1,426
  1,617
  1,816
  2,023
  2,238
  2,461
  2,693
  2,935
  3,186
  3,447
  3,719
  4,002
  4,297
  4,604
  4,925
  5,259
  5,608
  5,973
  6,354
  6,752
  7,169
  7,604
  8,060
  8,537
Total liabilities, $m
  1,222
  1,351
  1,499
  1,654
  1,816
  1,986
  2,163
  2,347
  2,538
  2,737
  2,944
  3,159
  3,382
  3,614
  3,856
  4,107
  4,368
  4,640
  4,923
  5,218
  5,525
  5,846
  6,180
  6,529
  6,894
  7,275
  7,673
  8,090
  8,525
  8,981
  9,458
Total equity, $m
  1,453
  1,574
  1,746
  1,926
  2,115
  2,313
  2,518
  2,733
  2,956
  3,187
  3,428
  3,678
  3,939
  4,209
  4,490
  4,782
  5,086
  5,403
  5,733
  6,076
  6,434
  6,807
  7,197
  7,603
  8,028
  8,472
  8,935
  9,420
  9,927
  10,458
  11,014
Total liabilities and equity, $m
  2,675
  2,925
  3,245
  3,580
  3,931
  4,299
  4,681
  5,080
  5,494
  5,924
  6,372
  6,837
  7,321
  7,823
  8,346
  8,889
  9,454
  10,043
  10,656
  11,294
  11,959
  12,653
  13,377
  14,132
  14,922
  15,747
  16,608
  17,510
  18,452
  19,439
  20,472
Debt-to-equity ratio
  0.207
  0.270
  0.330
  0.380
  0.420
  0.460
  0.490
  0.520
  0.550
  0.570
  0.590
  0.610
  0.620
  0.640
  0.650
  0.670
  0.680
  0.690
  0.700
  0.710
  0.720
  0.720
  0.730
  0.740
  0.740
  0.750
  0.760
  0.760
  0.770
  0.770
  0.780
Adjusted equity ratio
  0.534
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  437
  574
  635
  699
  766
  835
  908
  984
  1,063
  1,145
  1,230
  1,328
  1,420
  1,516
  1,615
  1,719
  1,827
  1,939
  2,055
  2,177
  2,304
  2,436
  2,574
  2,718
  2,868
  3,025
  3,189
  3,361
  3,541
  3,729
  3,925
Depreciation, amort., depletion, $m
  143
  161
  177
  194
  212
  230
  249
  270
  291
  312
  335
  346
  370
  396
  422
  450
  478
  508
  539
  571
  605
  640
  677
  715
  755
  797
  840
  886
  934
  984
  1,036
Funds from operations, $m
  676
  734
  811
  892
  977
  1,066
  1,158
  1,254
  1,354
  1,457
  1,565
  1,674
  1,791
  1,912
  2,038
  2,169
  2,305
  2,447
  2,594
  2,748
  2,909
  3,076
  3,251
  3,433
  3,623
  3,822
  4,030
  4,247
  4,474
  4,712
  4,961
Change in working capital, $m
  37
  81
  85
  89
  94
  98
  102
  106
  110
  115
  119
  124
  129
  134
  139
  145
  151
  157
  163
  170
  177
  185
  193
  201
  210
  220
  230
  240
  251
  263
  275
Cash from operations, $m
  639
  653
  726
  803
  883
  968
  1,056
  1,148
  1,243
  1,343
  1,446
  1,550
  1,662
  1,778
  1,898
  2,024
  2,154
  2,290
  2,431
  2,578
  2,731
  2,891
  3,058
  3,231
  3,413
  3,602
  3,800
  4,007
  4,223
  4,449
  4,686
Maintenance CAPEX, $m
  0
  -133
  -148
  -164
  -181
  -199
  -218
  -237
  -257
  -278
  -300
  -322
  -346
  -370
  -396
  -422
  -450
  -478
  -508
  -539
  -571
  -605
  -640
  -677
  -715
  -755
  -797
  -840
  -886
  -934
  -984
New CAPEX, $m
  -226
  -101
  -110
  -116
  -121
  -126
  -132
  -137
  -143
  -148
  -154
  -160
  -166
  -173
  -180
  -187
  -194
  -202
  -211
  -220
  -229
  -239
  -249
  -260
  -272
  -284
  -297
  -310
  -324
  -339
  -355
Cash from investing activities, $m
  -369
  -234
  -258
  -280
  -302
  -325
  -350
  -374
  -400
  -426
  -454
  -482
  -512
  -543
  -576
  -609
  -644
  -680
  -719
  -759
  -800
  -844
  -889
  -937
  -987
  -1,039
  -1,094
  -1,150
  -1,210
  -1,273
  -1,339
Free cash flow, $m
  270
  419
  468
  523
  581
  643
  707
  774
  844
  916
  992
  1,068
  1,149
  1,235
  1,323
  1,415
  1,510
  1,609
  1,712
  1,819
  1,931
  2,047
  2,168
  2,294
  2,426
  2,563
  2,707
  2,856
  3,013
  3,176
  3,347
Issuance/(repayment) of debt, $m
  124
  140
  148
  155
  162
  169
  177
  184
  191
  199
  207
  215
  223
  232
  241
  251
  261
  272
  283
  295
  307
  321
  334
  349
  365
  381
  398
  416
  436
  456
  477
Issuance/(repurchase) of shares, $m
  -291
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -158
  140
  148
  155
  162
  169
  177
  184
  191
  199
  207
  215
  223
  232
  241
  251
  261
  272
  283
  295
  307
  321
  334
  349
  365
  381
  398
  416
  436
  456
  477
Total cash flow (excl. dividends), $m
  112
  559
  616
  678
  744
  812
  883
  958
  1,035
  1,115
  1,199
  1,283
  1,373
  1,467
  1,564
  1,666
  1,771
  1,881
  1,995
  2,114
  2,238
  2,368
  2,503
  2,644
  2,791
  2,944
  3,105
  3,273
  3,448
  3,632
  3,824
Retained Cash Flow (-), $m
  -60
  -164
  -172
  -181
  -189
  -197
  -206
  -214
  -223
  -232
  -241
  -250
  -260
  -270
  -281
  -292
  -304
  -317
  -330
  -343
  -358
  -373
  -390
  -407
  -425
  -444
  -464
  -485
  -507
  -531
  -555
Prev. year cash balance distribution, $m
 
  43
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  438
  444
  498
  555
  615
  678
  743
  812
  884
  958
  1,032
  1,113
  1,196
  1,283
  1,373
  1,467
  1,564
  1,666
  1,771
  1,880
  1,994
  2,113
  2,237
  2,366
  2,501
  2,641
  2,788
  2,941
  3,101
  3,269
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  420
  406
  433
  457
  476
  492
  502
  508
  508
  502
  490
  475
  455
  431
  403
  373
  340
  307
  273
  239
  206
  175
  147
  121
  97
  77
  60
  46
  34
  25
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle. The Company operates retail stores under the names Tractor Supply Company, Del's Feed & Farm Supply and Petsense, and operates Websites under the names TractorSupply.com and Petsense.com. The Company's selection of merchandise consists of various product categories, including equine, livestock, pet and small animal products; hardware, truck, towing and tool products; seasonal products, including heating, lawn and garden items, power equipment, gifts and toys; work/recreational clothing and footwear, and maintenance products for agricultural and rural use. Its brands include 4health, JobSmart, Bit & Bridle, Paws & Claws, Blue Mountain, Redstone, Dumor, Equistages and Royal Wing.

FINANCIAL RATIOS  of  Tractor Supply (TSCO)

Valuation Ratios
P/E Ratio 24.2
Price to Sales 1.6
Price to Book 7.3
Price to Tangible Book
Price to Cash Flow 16.6
Price to Free Cash Flow 25.6
Growth Rates
Sales Growth Rate 8.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -4.6%
Cap. Spend. - 3 Yr. Gr. Rate 0.7%
Financial Strength
Quick Ratio 5
Current Ratio 0
LT Debt to Equity 20%
Total Debt to Equity 20.7%
Interest Coverage 116
Management Effectiveness
Return On Assets 17.5%
Ret/ On Assets - 3 Yr. Avg. 18.3%
Return On Total Capital 26.4%
Ret/ On T. Cap. - 3 Yr. Avg. 28.1%
Return On Equity 30.7%
Return On Equity - 3 Yr. Avg. 30.1%
Asset Turnover 2.7
Profitability Ratios
Gross Margin 34.3%
Gross Margin - 3 Yr. Avg. 34.3%
EBITDA Margin 12.3%
EBITDA Margin - 3 Yr. Avg. 12.4%
Operating Margin 10.2%
Oper. Margin - 3 Yr. Avg. 10.3%
Pre-Tax Margin 10.1%
Pre-Tax Margin - 3 Yr. Avg. 10.3%
Net Profit Margin 6.4%
Net Profit Margin - 3 Yr. Avg. 6.5%
Effective Tax Rate 36.5%
Eff/ Tax Rate - 3 Yr. Avg. 36.7%
Payout Ratio 27.9%

TSCO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TSCO stock intrinsic value calculation we used $6780 million for the last fiscal year's total revenue generated by Tractor Supply. The default revenue input number comes from 2016 income statement of Tractor Supply. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TSCO stock valuation model: a) initial revenue growth rate of 11.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TSCO is calculated based on our internal credit rating of Tractor Supply, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Tractor Supply.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TSCO stock the variable cost ratio is equal to 89.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for TSCO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Tractor Supply.

Corporate tax rate of 27% is the nominal tax rate for Tractor Supply. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TSCO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TSCO are equal to 13.3%.

Life of production assets of 6.8 years is the average useful life of capital assets used in Tractor Supply operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TSCO is equal to 10.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1453 million for Tractor Supply - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 126.154 million for Tractor Supply is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Tractor Supply at the current share price and the inputted number of shares is $10.2 billion.

RELATED COMPANIES Price Int.Val. Rating
SMG Scotts Miracle 107.08 574.29  str.buy
SHOS Sears Hometown 2.75 3.23  buy
SJM J.M. Smucker 125.68 78.98  sell
VFC VF 78.43 48.44  sell
BUFF Blue Buffalo P 33.45 57.75  str.buy
NWL Newell Brands 31.29 21.51  sell
CL Colgate-Palmol 76.63 10.05  str.sell

COMPANY NEWS

▶ Key Events for Consumer Stocks on January 1519   [Jan-17-18 10:31AM  Market Realist]
▶ Weather does matter for auto part stocks: Analyst   [Jan-05-18 02:14PM  CNBC Videos]
▶ Tractor Supply Earns Technical Rating Upgrade   [Dec-21-17 03:00AM  Investor's Business Daily]
▶ 3 Stocks That Could Double Your Money   [Dec-16-17 10:32AM  Motley Fool]
▶ Why Tractor Supply Company Rose 13% in November   [Dec-14-17 05:23PM  Motley Fool]
▶ GuruFocus Forum Shares 5 Good Stock Picks   [Dec-12-17 04:27PM  GuruFocus.com]
▶ Tractor Supply is Pulling Along the Bulls   [03:02PM  TheStreet.com]
▶ 3 Retail Stocks to Buy for the Brick-and-Mortar Resurgence   [Dec-06-17 12:10PM  InvestorPlace]
▶ 6 High Tax Paying Stocks to Buy Now   [Dec-05-17 02:08PM  InvestorPlace]
▶ Tractor Supply Keeps on Creating Value for Shareholders   [Nov-14-17 01:36PM  Motley Fool]
▶ Tractor Supply Company Declares Quarterly Dividend   [Nov-07-17 08:00AM  GlobeNewswire]
▶ 3 Growth Stocks at Deep-Value Prices   [Oct-30-17 07:45PM  Motley Fool]
▶ Tractor Supply Posts Broad Third-Quarter Sales Gains   [Oct-26-17 10:14AM  Motley Fool]
▶ Tractor Supply tops Street 3Q forecasts   [Oct-25-17 04:09PM  Associated Press]
▶ Petsense Introduces Exclusive Premium Pet Food Line   [Oct-24-17 08:00AM  GlobeNewswire]
▶ 3 Top Consumer and Retail Stocks to Put on Your Radar   [Oct-19-17 11:41AM  Motley Fool]
▶ How Tractor Supply Is Defying the Train Wreck of Retail   [Oct-17-17 06:19PM  Motley Fool]
▶ David Rolfe Comments on Tractor Supply   [Oct-16-17 05:45PM  GuruFocus.com]
▶ Dove under fire for racist ad   [Oct-09-17 01:34PM  Yahoo Finance Video]
▶ Tractor Supply, 4-H Partner for Fall Paper Clover Campaign   [Oct-03-17 10:52AM  GlobeNewswire]
▶ John Rogers Continues to Buy Accenture, Novartis, Apache   [Aug-30-17 05:24PM  GuruFocus.com]
▶ The Hot Stock: Tractor Supply Gains 2.7%   [Aug-17-17 05:03PM  Barrons.com]
▶ Tractor Supply Company Declares Quarterly Dividend   [Aug-08-17 08:00AM  GlobeNewswire]
▶ 3 Earnings Winners, 1 Unappetizing Loser   [Jul-31-17 10:10PM  Motley Fool]
▶ These Stocks Are Ready to Reverse Course   [02:30PM  TheStreet.com]
▶ 7 Undervalued Stocks With Rising Earnings   [Jul-27-17 04:06PM  GuruFocus.com]
Financial statements of TSCO
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.