Tractor Supply (TSCO) Operating Margin (2009 - 2026)

Tractor Supply has reported Operating Margin for 18 years, with the latest figure at 6.5% in Q1 2026.

• For the quarter ending Q1 2026, Operating Margin fell 69.0% year-over-year to 6.5%; the trailing twelve-month figure through Mar 2026 stood at 5.32% (down 440.0% YoY), and the FY2025 full-year result was 9.45%, down 41.0% from the prior year.
• Operating Margin for Q1 2026 stood at 6.5%, up from 1.92% in the prior quarter.
• The five-year high for Operating Margin was 13.45% in Q2 2022, with the low at 1.92% in Q4 2025.
• Historically, Operating Margin has averaged 9.2% across 5 years, with a median of 9.13% in 2023.
• Annual changes were most pronounced in 2023 — Operating Margin jumped 62 bps — and 2025, when it tumbled 652 bps.
• Tractor Supply's Operating Margin stood at 8.97% in 2022, then gained by 2 bps to 9.13% in 2023, then dropped by 8 bps to 8.44% in 2024, then plunged by 77 bps to 1.92% in 2025, then jumped by 239 bps to 6.5% in 2026.
• The last three Operating Margin figures came in at 6.5% (Q1 2026), 1.92% (Q4 2025), and 9.21% (Q3 2025), per Business Quant data.