• Tractor Supply average debt/equity ratio for 2023 was 0.84, a 47.37% decline from 2022.
• Tractor Supply average debt/equity ratio for 2022 was 0.57, a 9.62% increase from 2021.
• Tractor Supply average debt/equity ratio for 2021 was 0.52, a 8.33% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.