Bath & Body Works
BBWI · Other Specialty Retail
$20.95
3.0%Tractor Supply
TSCO · Other Specialty Retail
$33.42
3.8%The short version
- Tractor Supply is the larger business, with $15.5B of revenue in fiscal 2025 against $7.3B for Bath & Body Works, about 2.1 times as much.
- Tractor Supply grew revenue faster (4.3%, against −0.2%).
- Bath & Body Works kept more of each dollar of sales as operating profit (15.4% operating margin, against 9.5% operating margin).
- Bath & Body Works turned more of its sales into free cash flow (11.9% FCF margin, against 4.8% FCF margin).
- Bath & Body Works earned a higher return on the capital invested in it (47.5%, against 28.5%).
- Investors pay more for each dollar of Tractor Supply’s earnings: a P/E of 17.4x against 5.5x for Bath & Body Works.
| Latest fiscal year | BBWI · FY25 | TSCO · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.2B | $17.5B |
| Revenue | $7.3B | $15.5B |
| Free cash flow | $865M | $740M |
| Net income | $649M | $1.1B |
| Growth | ||
| Revenue growth | −0.2% | 4.3% |
| 5-year growth | 2.5% | 7.9% |
| Share count change | −5.4% | −1.4% |
| Profitability | ||
| Gross margin | 43.7% | 36.4% |
| Operating margin | 15.4% | 9.5% |
| Net margin | 8.9% | 7.1% |
| FCF margin | 11.9% | 4.8% |
| Return on capital | 47.5% | 28.5% |
| Return on equity | — | 45.2% |
| Balance sheet | ||
| Net debt | $2.9B | $1.6B |
| Net debt / EBITDA | 2.1x | 0.8x |
| Dividends and buybacks | $568M | $849M |
| Valuation & quality | ||
| P/E | 5.5x | 17.4x |
| Piotroski F-score | 5 | 6 |
FY16
BBWI $12.6B
TSCO $6.8B
FY17
BBWI $12.6B
TSCO $7.3B
FY18
BBWI $13.2B
TSCO $7.9B
FY19
BBWI $5.4B
TSCO $8.4B
FY20
BBWI $6.4B
TSCO $10.6B
FY21
BBWI $7.9B
TSCO $12.7B
FY22
BBWI $7.6B
TSCO $14.2B
FY23
BBWI $7.4B
TSCO $14.6B
FY24
BBWI $7.3B
TSCO $14.9B
FY25
BBWI $7.3B
TSCO $15.5B
BBWI
TSCO
FY16
BBWI 15.9%
TSCO 10.2%
FY17
BBWI 13.7%
TSCO 9.5%
FY18
BBWI 9.4%
TSCO 8.9%
FY19
BBWI 19.2%
TSCO 8.9%
FY20
BBWI 24.9%
TSCO 9.4%
FY21
BBWI 25.5%
TSCO 10.3%
FY22
BBWI 18.2%
TSCO 10.1%
FY23
BBWI 17.3%
TSCO 10.2%
FY24
BBWI 17.3%
TSCO 9.9%
FY25
BBWI 15.4%
TSCO 9.5%
BBWI
TSCO
FY16
BBWI $1.0B
TSCO $425M
FY17
BBWI $699M
TSCO $381M
FY18
BBWI $748M
TSCO $416M
FY19
BBWI $778M
TSCO $594M
FY20
BBWI $1.8B
TSCO $1.1B
FY21
BBWI $1.2B
TSCO $510M
FY22
BBWI $816M
TSCO $584M
FY23
BBWI $656M
TSCO $580M
FY24
BBWI $660M
TSCO $637M
FY25
BBWI $865M
TSCO $740M
BBWI
TSCO
FY16
BBWI 45.9%
TSCO 28.0%
FY17
BBWI 40.0%
TSCO 25.3%
FY18
BBWI 26.8%
TSCO 29.9%
FY19
BBWI 26.2%
TSCO 30.2%
FY20
BBWI 52.8%
TSCO 43.9%
FY21
BBWI 86.0%
TSCO 54.3%
FY22
BBWI 75.1%
TSCO 42.9%
FY23
BBWI 71.2%
TSCO 34.9%
FY24
BBWI 56.1%
TSCO 30.9%
FY25
BBWI 47.5%
TSCO 28.5%
BBWI
TSCO
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.