Is Tractor Supply Co. overvalued or undervalued?

As of 17 October 2025, Tractor Supply Co. has moved from a very expensive to an expensive valuation grade. The company appears to be overvalued based on its current metrics. The P/E ratio stands at 28, which is higher than the peer average of 32.73 for Tractor Supply Co., while the EV to EBITDA ratio is 16.93, also above the industry average. Additionally, the Price to Book Value is notably high at 13.48, indicating a premium valuation compared to its peers.
In comparison to its peers, Target Corp. has a P/E of 11.82 and an EV to EBITDA of 6.78, while Williams-Sonoma, Inc. shows a P/E of 21.73 and an EV to EBITDA of 14.11, both suggesting that Tractor Supply Co. is priced at a premium relative to these competitors. Over the past year, Tractor Supply Co. has returned -7.48%, significantly underperforming the S&P 500's return of 14.08%, reinforcing the notion that the stock may be overvalued.