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Sherwin Williams vs Tractor Supply: revenue, profit, margins and growth compared

Sherwin Williams brought in $23.6B of revenue in fiscal 2025, Tractor Supply $15.5B in fiscal 2025. Revenue changed by +2.1% at Sherwin Williams and +4.3% at Tractor Supply on the year before, so Tractor Supply grew faster. Sherwin Williams kept 10.9% of its revenue as net profit, Tractor Supply 7.1%. Free cash flow was $2.7B at Sherwin Williams and $740.5M at Tractor Supply.

Side by side, latest fiscal year

SHWTSCO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 27, 2025)
Revenue$23.6B$15.5B
Revenue growth+2.1%+4.3%
Net income$2.6B$1.1B
Net margin10.9%7.1%
Free cash flow$2.7B$740.5M
Free cash flow margin11.3%4.8%
Earnings per share (diluted)$10.26$2.06
Cash$207.2M$194.1M
Debt$9.7B$150M
Price to earnings32.115.7
Market value$79.9B$16.8B
Dividend yield0.96%2.85%
Rank by revenue in sector#47 of 778 · Consumer discretionary#80 of 778 · Consumer discretionary

Over the years

Revenue
SHW FY2018: $17.5BSHW FY2019: $17.9BSHW FY2020: $18.4BSHW FY2021: $19.9BSHW FY2022: $22.1BSHW FY2023: $23.1BSHW FY2024: $23.1BSHW FY2025: $23.6BTSCO FY2018: $7.9BTSCO FY2019: $8.4BTSCO FY2020: $10.6BTSCO FY2021: $12.7BTSCO FY2022: $14.2BTSCO FY2023: $14.6BTSCO FY2024: $14.9BTSCO FY2025: $15.5BFY18FY19FY20FY21FY22FY23FY24FY25
SHW $23.6BTSCO $15.5B
Net income
SHW FY2018: $1.1BSHW FY2019: $1.5BSHW FY2020: $2BSHW FY2021: $1.9BSHW FY2022: $2BSHW FY2023: $2.4BSHW FY2024: $2.7BSHW FY2025: $2.6BTSCO FY2018: $532.4MTSCO FY2019: $562.4MTSCO FY2020: $749MTSCO FY2021: $997.1MTSCO FY2022: $1.1BTSCO FY2023: $1.1BTSCO FY2024: $1.1BTSCO FY2025: $1.1BFY18FY19FY20FY21FY22FY23FY24FY25
SHW $2.6BTSCO $1.1B
Net margin
SHW FY2018: 6.3%SHW FY2019: 8.6%SHW FY2020: 11.1%SHW FY2021: 9.3%SHW FY2022: 9.1%SHW FY2023: 10.4%SHW FY2024: 11.6%SHW FY2025: 10.9%TSCO FY2018: 6.7%TSCO FY2019: 6.7%TSCO FY2020: 7.1%TSCO FY2021: 7.8%TSCO FY2022: 7.7%TSCO FY2023: 7.6%TSCO FY2024: 7.4%TSCO FY2025: 7.1%FY18FY19FY20FY21FY22FY23FY24FY25
SHW 10.9%TSCO 7.1%
Revenue growth
SHW FY2019: +2.1%SHW FY2020: +2.6%SHW FY2021: +8.6%SHW FY2022: +11.1%SHW FY2023: +4.1%SHW FY2024: +0.2%SHW FY2025: +2.1%TSCO FY2019: +5.6%TSCO FY2020: +27.2%TSCO FY2021: +19.9%TSCO FY2022: +11.6%TSCO FY2023: +2.5%TSCO FY2024: +2.2%TSCO FY2025: +4.3%FY19FY20FY21FY22FY23FY24FY25
SHW +2.1%TSCO +4.3%
Free cash flow
SHW FY2018: $1.7BSHW FY2019: $2BSHW FY2020: $3.1BSHW FY2021: $1.9BSHW FY2022: $1.3BSHW FY2023: $2.6BSHW FY2024: $2.1BSHW FY2025: $2.7BTSCO FY2018: $415.9MTSCO FY2019: $594.3MTSCO FY2020: $1.1BTSCO FY2021: $510.3MTSCO FY2022: $583.6MTSCO FY2023: $580.2MTSCO FY2024: $636.8MTSCO FY2025: $740.5MFY18FY19FY20FY21FY22FY23FY24FY25
SHW $2.7BTSCO $740.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Sherwin Williams and Tractor Supply

Which is bigger by revenue, Sherwin Williams or Tractor Supply?

Sherwin Williams is bigger by revenue: $23.6B in fiscal 2025, against $15.5B for Tractor Supply in fiscal 2025.

Which keeps more of its revenue as profit, Sherwin Williams or Tractor Supply?

Sherwin Williams had a net margin of 10.9% in fiscal 2025; Tractor Supply had 7.1% in fiscal 2025.

Which grew revenue faster, Sherwin Williams or Tractor Supply?

In their latest fiscal years revenue changed by +2.1% at Sherwin Williams and +4.3% at Tractor Supply.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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