• Tractor Supply average return on tangible equity for 2023 was 61.82, a 10.63% decline from 2022.
• Tractor Supply average return on tangible equity for 2022 was 55.88, a 13.6% increase from 2021.
• Tractor Supply average return on tangible equity for 2021 was 49.19, a 4.57% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.