Tractor Supply Co

TSCO: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$879.00	Kpgj	Xvfykhskx

Tractor Supply’s Strong Brand, Competitive Positioning Propel Wide Economic Moat Designation

Jaime M Katz , Ari Felhandler

Mar 6, 2023

We are raising our economic moat rating for Tractor Supply to wide from narrow thanks to investments that enhance its differentiated one-stop-shop model, giving us greater confidence in the strength of its brand intangible asset.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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United States