Invest in Simple Businesses - Tractor Supply Company
5 minute analysis Tractor Supply Company (Ticker:TSCO) TSCO has a qouted stock price of $83.10 per share and a market cap of $9.6 billion. That means we could buy it for $9.6 billion ;) - but what is the intrinsic value? Let's check out TSCO on Morningstar TSCO had $562 million in net income for the year 2019. Capital expenditures for the year were $217 million and the free cash flow was $594 million. It looks like TSCO is growing revenue between 5 percent to 16 percent, the last 5 years only 5 percent to 9 percent and net income by 5 percent to 10 percent the last 5 years (except 2017 where TSCO had a bad year with -3 percent growth). The captial expenditures (capex) has decreased compared to 2018 by ~20 percent! The free cash flow increased by more than 40% compared to last year, 2018, and has been very cyclical the last 10 years, 1 year increase, the year after decrease. My calculated annual growth rate of the free cash flow is ~17 percent. My assumptions wil...