Flagship explainer

What drives TRACTOR SUPPLY CO /DE/’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity45%Tax burden78%net income ÷ pretax incomeInterest burden95%pretax ÷ operating incomeOperating margin9%operating income ÷ revenueAsset turnover1.50×revenue ÷ average assetsEquity multiplier4.27×average assets ÷ average equityAs of 2025-12-27 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$1.1BFY2025
Income before tax$1.4BFY2025
Operating income$1.5BFY2025
$15.5BFY2025
Ending assets$10.9BFY2025
Beginning assets$9.8BFY2024
$2.6BFY2025
$2.3BFY2024
Source: · event Dec 27, 2025 · retrieved Oct 15, 2026 · annual-row source set
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