Tractor Supply vs Whirlpool
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KIRA’s take AI analyst
I put Tractor Supply and Whirlpool side by side, using each one’s latest annual report. Here is what stands out:
- Tractor Supply is the larger business, with $15.5B of revenue in fiscal 2025 against $15.5B for Whirlpool.
- Tractor Supply grew revenue faster (4.3%, against −6.5%).
- Tractor Supply kept more of each dollar of sales as operating profit (9.5% operating margin, against 5.4%).
- Tractor Supply turned more of its sales into free cash flow (4.8% FCF margin, against 0.5%).
- Tractor Supply earned a higher return on the capital invested in it (28.5%, against 7.2%).
- Investors pay more for each dollar of Tractor Supply’s earnings: a P/E of 16.9x against 9.0x for Whirlpool.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Tractor Supply
TSCO
11/11
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Whirlpool
WHR
0/11
Side by side
Best in the row
| Latest fiscal year | TSCO FY25 | WHR FY25 |
|---|---|---|
| Size | ||
| Market cap | $17.1B | $1.7B |
| Revenue | $15.5B | $15.5B |
| Free cash flow | $740M | $81.0M |
| Net income | $1.1B | $318M |
| Growth | ||
| Revenue growth | 4.3% | −6.5% |
| 5-year growth | 7.9% | −4.4% |
| Share count change | −1.4% | 2.0% |
| Profitability | ||
| Gross margin | 36.4% | 15.4% |
| Operating margin | 9.5% | 5.4% |
| Net margin | 7.1% | 2.1% |
| FCF margin | 4.8% | 0.5% |
| Return on capital | 28.5% | 7.2% |
| Return on equity | 45.2% | 11.8% |
| Balance sheet | ||
| Net debt | $1.6B | $5.9B |
| Net debt / EBITDA | 0.8x | 5.0x |
| Dividends and buybacks | $849M | $300M |
| Valuation & quality | ||
| P/E | 16.9x | 9.0x |
| Piotroski F-score | 6 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.