Tractor Supply (TSCO) Gross Margin (2009 - 2026)
Tractor Supply (TSCO) posted Gross Margin of 36.22% for Q1 2026, up 310.51% on a QoQ basis from 8.82% in Q4 2025, and up 1.0% year-over-year from 35.87% in Q1 2025.
Tractor Supply (TSCO) Gross Margin (2009 - 2026) Analysis & Trends
Tractor Supply's Gross Margin history runs 18 years deep, the most recent figure standing at 36.22% for Q1 2026.
- Quarterly Gross Margin rose 1.0% year-over-year to 36.22% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 20.9% (down 1542.0% YoY) and the FY2025 annual result came in at 36.42%, up 16.0% from the prior year.
- Gross Margin was 36.22% for Q1 2026 at Tractor Supply, up from 8.82% in the prior quarter.
- Across five years, Gross Margin topped out at 37.35% in Q3 2025 and bottomed at 8.82% in Q4 2025.
- A 5-year average of 34.37% and a median of 35.96% in 2024 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin surged 129 bps — and 2025, when it slumped 2641 bps.
- Tractor Supply's Gross Margin stood at 34.04% in 2022, then grew by 4 bps to 35.33% in 2023, then fell by 0 bps to 35.24% in 2024, then plunged by 75 bps to 8.82% in 2025, then soared by 311 bps to 36.22% in 2026.
- Business Quant data shows TSCO's Gross Margin at 36.22% in Q1 2026, 8.82% in Q4 2025, and 37.35% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caseys General Stores | 32.13 Bn | 31.61 Bn | 1.08 Bn | 23.63% |
| 2 | NaaS Technology | 30.58 Bn | 30.58 Bn | - | - |
| 3 | Williams Sonoma | 28.34 Bn | 27.33 Bn | 1.10 Bn | 46.87% |
| 4 | Ulta Beauty | 23.18 Bn | 22.69 Bn | 1.48 Bn | 38.06% |
| 5 | Best Buy | 18.52 Bn | 16.77 Bn | 2.10 Bn | 23.52% |
| 6 | Dick'S Sporting Goods | 16.59 Bn | 15.24 Bn | 1.77 Bn | 28.43% |
| 7 | MINISO Group Holding | 16.05 Bn | 14.98 Bn | 414.86 Mn | 46.39% |
| 8 | Tractor Supply | 15.89 Bn | 15.66 Bn | 1.30 Bn | 36.22% |
| 9 | Five Below | 12.09 Bn | 11.16 Bn | 696.98 Mn | 40.32% |
| 10 | Murphy USA | 11.42 Bn | 11.30 Bn | -3.64 Bn | -644.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 28, 2026 | 36.22% |
| Dec 27, 2025 | 8.82% |
| Sep 27, 2025 | 37.35% |
| Jun 28, 2025 | 36.94% |
| Mar 29, 2025 | 36.21% |
| Dec 28, 2024 | 35.24% |
| Sep 28, 2024 | 37.21% |
| Jun 29, 2024 | 36.63% |
| Mar 30, 2024 | 35.96% |
| Dec 30, 2023 | 35.33% |
| Sep 30, 2023 | 36.65% |
| Jul 1, 2023 | 36.20% |
| Apr 1, 2023 | 35.46% |
| Dec 31, 2022 | 34.04% |
| Sep 24, 2022 | 35.64% |
| Jun 25, 2022 | 35.51% |
| Mar 26, 2022 | 34.94% |
| Dec 25, 2021 | 33.76% |
| Sep 25, 2021 | 35.96% |
| Jun 26, 2021 | 35.75% |