Tractor Supply Co (TSCO) is fairly valued and Williams-Sonoma Inc (WSM) is overvalued.
Both trade above our estimate of their intrinsic value. TSCO is the closer of the two: -1%, against -96% for WSM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.0% (average of 3 methods) values the shares at $32.48; the price of $32.84 is 1% above that value, and 79% of that value comes from beyond year five.
Leak Score 55/100 on 10 of 12 signals
Discounting its cash flows at 11.3% (average of 3 methods) values the shares at $118.54; the price of $232.69 is 96% above that value, and 68% of that value comes from beyond year five.
Leak Score 71/100 on 9 of 12 signals
| Metric | TSCO | WSM |
|---|---|---|
| Verdict | Fairly valued | Overvalued |
| Price | $32.84 | $232.69 |
| Intrinsic value | $32.48 | $118.54 |
| Margin of safety | -1% | -96% |
| Leak Score | 55/100 (10/12) | 71/100 (9/12) |
| Market cap | $17.1B | $27.4B |
| Revenue growth, 5 years | 7.9% | 2.9% |
| Operating margin | 8.9% | 19.2% |
| Net margin | 6.4% | 14.7% |
| Return on equity | 39.5% | 55.0% |
| Debt to equity | 2.49 | 0.71 |
| P/E | 17.1x | 23.8x |
| Forward P/E | 16.1x | 22.1x |
| P/B | 6.5x | 12.8x |
| Dividend yield | 3.0% | 1.3% |