Fastenal Company (FAST) 10-Year Financial Performance & Capital Metrics

FAST • • Industrial / General

IndustrialsIndustrial DistributionGeneral Industrial MRO DistributionBroadline Industrial Distributors

AboutFastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. It also offers miscellaneous supplies and hardware, including pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market comprising original equipment manufacturers; maintenance, repair, and operations; and non-residential construction market, which includes general, electrical, plumbing, sheet metal, and road contractors. It also serves farmers, truckers, railroads, mining companies, schools, and retail trades; and oil exploration, production, and refinement companies, as well as federal, state, and local governmental entities. The company distributes its products through a network of 3,209 in-market locations and 15 distribution centers. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.Show more

Revenue $7.55B +2.7%
EBITDA $1.69B -1.2%
Net Income $1.15B -0.4%
EPS (Diluted) 1.00 -1.0%
Gross Margin 45.08% -1.3%
EBITDA Margin 22.34% -3.8%
Operating Margin 20.01% -3.8%
Net Margin 15.25% -3.0%
ROE 33.04% -6.9%
ROIC 30.17% -2.7%
Debt/Equity 0.13 -16.0%
Interest Coverage 206.85 +46.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 34.5%
✓Healthy 5Y average net margin of 15.4%
✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

✗Expensive at 13.8x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.29%

5Y7.19%

3Y7.88%

TTM6.92%

Profit (Net Income) CAGR

10Y8.82%

5Y7.79%

3Y7.55%

TTM6.21%

EPS CAGR

10Y9.19%

5Y7.7%

3Y7.72%

TTM7%

ROCE

10Y Avg36.97%

5Y Avg37.6%

3Y Avg39.5%

Latest38.66%

Peer Comparison

Broadline Industrial Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FASTFastenal Company	49.97B	43.53	43.53	2.71%	15.34%	31.5%	1.89%	0.13
DXPEDXP Enterprises, Inc.	1.89B	120.69	28.60	7.35%	4.45%	17.86%	4.08%	1.60
GWWW.W. Grainger, Inc.	50.56B	1063.30	27.47	4.19%	9.75%	43.68%	3.11%	0.86
GICGlobal Industrial Company	1.22B	31.65	20.03	3.26%	5.11%	21.58%	3.85%	0.30

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.87B	3.96B	4.39B	4.97B	5.33B	5.65B	6.01B	6.98B	7.35B	7.55B
Revenue Growth %	0.04%	0.02%	0.11%	0.13%	0.07%	0.06%	0.06%	0.16%	0.05%	0.03%
Cost of Goods Sold+	1.92B	2B	2.23B	2.57B	2.82B	3.08B	3.23B	3.76B	3.99B	4.14B
COGS % of Revenue	0.5%	0.5%	0.51%	0.52%	0.53%	0.55%	0.54%	0.54%	0.54%	0.55%
Gross Profit+	1.95B	1.96B	2.16B	2.4B	2.52B	2.57B	2.78B	3.22B	3.35B	3.4B
Gross Margin %	0.5%	0.5%	0.49%	0.48%	0.47%	0.45%	0.46%	0.46%	0.46%	0.45%
Gross Profit Growth %	0.03%	0.01%	0.1%	0.11%	0.05%	0.02%	0.08%	0.16%	0.04%	0.01%
Operating Expenses+	1.12B	1.17B	1.28B	1.4B	1.46B	1.43B	1.56B	1.76B	1.83B	1.89B
OpEx % of Revenue	0.29%	0.3%	0.29%	0.28%	0.27%	0.25%	0.26%	0.25%	0.25%	0.25%
Selling, General & Admin	1.12B	1.17B	1.28B	1.4B	1.46B	1.43B	1.56B	1.76B	1.83B	1.89B
SG&A % of Revenue	0.29%	0.3%	0.29%	0.28%	0.27%	0.25%	0.26%	0.25%	0.25%	0.25%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-1.4M	-500K	-1M	-500K	1.2M	1.4M	0	0	0	0
Operating Income+	828.75M	795.8M	881.8M	999.2M	1.06B	1.14B	1.22B	1.45B	1.53B	1.51B
Operating Margin %	0.21%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.21%	0.21%	0.2%
Operating Income Growth %	0.05%	-0.04%	0.11%	0.13%	0.06%	0.08%	0.07%	0.19%	0.05%	-0.01%
EBITDA+	915.36M	899.85M	1.01B	1.14B	1.21B	1.3B	1.39B	1.63B	1.71B	1.69B
EBITDA Margin %	0.24%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.22%
EBITDA Growth %	0.06%	-0.02%	0.12%	0.13%	0.06%	0.08%	0.06%	0.17%	0.05%	-0.01%
D&A (Non-Cash Add-back)	86.6M	104.05M	127.4M	138.2M	148.7M	162.4M	170.7M	176.6M	177.3M	175.4M
EBIT	829.13M	796.23M	882.2M	999.6M	1.06B	1.14B	1.22B	1.45B	1.53B	1.52B
Net Interest Income+	-2.7M	-6.1M	-8.7M	-12.2M	-13.5M	-9.1M	-9.6M	-13.6M	-6.7M	-1.9M
Interest Income	373K	394K	400K	400K	400K	600K	100K	700K	4.1M	5.4M
Interest Expense	3.1M	6.5M	9.1M	12.6M	13.9M	9.7M	9.7M	14.3M	10.8M	7.3M
Other Income/Expense	-2.65M	-6.1M	-8.7M	-12.2M	-13.5M	-9.1M	-9.6M	-13.6M	-6.7M	-1.9M
Pretax Income+	826.1M	789.7M	873.1M	987M	1.04B	1.13B	1.21B	1.44B	1.52B	1.51B
Pretax Margin %	0.21%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.21%	0.21%	0.2%
Income Tax+	309.7M	290.3M	294.5M	235.1M	252.8M	273.6M	282.8M	353.1M	367M	357.5M
Effective Tax Rate %	0.63%	0.63%	0.66%	0.76%	0.76%	0.76%	0.77%	0.75%	0.76%	0.76%
Net Income+	516.4M	499.4M	578.6M	751.9M	790.9M	859.1M	925M	1.09B	1.16B	1.15B
Net Margin %	0.13%	0.13%	0.13%	0.15%	0.15%	0.15%	0.15%	0.16%	0.16%	0.15%
Net Income Growth %	0.05%	-0.03%	0.16%	0.3%	0.05%	0.09%	0.08%	0.18%	0.06%	-0%
Net Income (Continuing)	516.4M	499.4M	578.6M	751.9M	790.9M	859.1M	925M	1.09B	1.16B	1.15B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.45	0.44	0.50	0.66	0.69	0.75	0.80	0.94	1.01	1.00
EPS Growth %	0.07%	-0.02%	0.15%	0.31%	0.05%	0.09%	0.07%	0.17%	0.07%	-0.01%
EPS (Basic)	0.45	0.44	0.50	0.66	0.69	0.75	0.80	0.95	1.01	1.00
Diluted Shares Outstanding	1.17B	1.16B	1.15B	1.15B	1.15B	1.15B	1.15B	1.15B	1.15B	1.15B
Basic Shares Outstanding	1.17B	1.16B	1.15B	1.15B	1.15B	1.15B	1.15B	1.15B	1.14B	1.15B
Dividend Payout Ratio	0.63%	0.69%	0.64%	0.59%	0.63%	0.94%	0.7%	0.65%	0.88%	0.78%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.66B	1.72B	1.94B	2.32B	2.46B	2.5B	2.86B	3.12B	3.02B	3.21B
Cash & Short-Term Investments	129.02M	112.73M	116.9M	167.2M	174.9M	245.7M	236.2M	230.1M	221.3M	255.8M
Cash Only	129.02M	112.73M	116.9M	167.2M	174.9M	245.7M	236.2M	230.1M	221.3M	255.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	468.38M	499.72M	607.8M	714.3M	741.8M	769.4M	900.2M	1.01B	1.09B	1.11B
Days Sales Outstanding	44.18	46.04	50.53	52.51	50.76	49.73	54.66	52.98	54.03	53.62
Inventory	913.26M	992.99M	1.09B	1.28B	1.37B	1.34B	1.52B	1.71B	1.52B	1.65B
Days Inventory Outstanding	173.59	181.47	179.13	181.87	176.96	158.53	171.97	165.59	139.22	144.89
Other Current Assets	131.56M	102.5M	118.1M	147M	157.4M	140.3M	188.1M	165.4M	171.8M	183.7M
Total Non-Current Assets+	867.69M	948.11M	974.8M	1.01B	1.34B	1.47B	1.44B	1.42B	1.44B	1.49B
Property, Plant & Equipment	818.89M	899.7M	893.6M	924.8M	1.27B	1.27B	1.26B	1.25B	1.28B	1.34B
Fixed Asset Turnover	4.72x	4.40x	4.91x	5.37x	4.21x	4.43x	4.76x	5.57x	5.73x	5.65x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	48.8M	48.42M	81.2M	80.5M	76.3M	191.4M	180.9M	170.8M	160.7M	150.3M
Total Assets+	2.53B	2.67B	2.91B	3.32B	3.8B	3.96B	4.3B	4.55B	4.46B	4.7B
Asset Turnover	1.53x	1.48x	1.51x	1.49x	1.40x	1.42x	1.40x	1.53x	1.65x	1.61x
Asset Growth %	0.07%	0.05%	0.09%	0.14%	0.14%	0.04%	0.08%	0.06%	-0.02%	0.05%
Total Current Liabilities+	373.17M	275.64M	351M	437.4M	544.7M	612.7M	682.2M	789.8M	661.3M	687.1M
Accounts Payable	125.97M	108.74M	147.5M	193.6M	192.8M	207M	233.1M	255M	264.1M	287.7M
Days Payables Outstanding	23.94	19.87	24.18	27.54	24.97	24.53	26.31	24.72	24.15	25.34
Short-Term Debt	62.05M	10.48M	3M	3M	3M	40M	60M	201.8M	60M	75M
Deferred Revenue (Current)	1000K	0	0	0	0	0	0	0	1000K	0
Other Current Liabilities	71.67M	57.46M	6.5M	0	72.8M	79.5M	90.1M	95.2M	191.7M	72.5M
Current Ratio	4.46x	6.24x	5.51x	5.30x	4.51x	4.08x	4.19x	3.96x	4.57x	4.67x
Quick Ratio	2.01x	2.64x	2.40x	2.37x	2.00x	1.90x	1.95x	1.79x	2.27x	2.28x
Cash Conversion Cycle	193.83	207.64	205.48	206.85	202.76	183.72	200.33	193.85	169.11	173.17
Total Non-Current Liabilities+	358.01M	460.15M	462.6M	581.4M	589.6M	618.8M	574.6M	595.6M	452.8M	394.6M
Long-Term Debt	302.95M	379.52M	412M	497M	342M	365M	330M	353.2M	200M	125M
Capital Lease Obligations	0	0	0	0	148.2M	151.5M	156M	155.2M	178.8M	186.6M
Deferred Tax Liabilities	55.06M	80.6M	50.6M	84.4M	99.4M	102.3M	88.6M	83.7M	73M	68.9M
Other Non-Current Liabilities	0	28K	0	0	0	0	0	3.5M	1M	14.1M
Total Liabilities	731.17M	735.79M	813.6M	1.02B	1.13B	1.23B	1.26B	1.39B	1.11B	1.08B
Total Debt+	365M	390M	415M	500M	590.6M	650.1M	636.8M	802.1M	535M	485.4M
Net Debt	235.98M	277.26M	298.1M	332.8M	415.7M	404.4M	400.6M	572M	313.7M	229.6M
Debt / Equity	0.20x	0.20x	0.20x	0.22x	0.22x	0.24x	0.21x	0.25x	0.16x	0.13x
Debt / EBITDA	0.40x	0.43x	0.41x	0.44x	0.49x	0.50x	0.46x	0.49x	0.31x	0.29x
Net Debt / EBITDA	0.26x	0.31x	0.30x	0.29x	0.34x	0.31x	0.29x	0.35x	0.18x	0.14x
Interest Coverage	267.34x	122.43x	96.90x	79.30x	76.06x	117.71x	125.51x	101.65x	141.55x	206.85x
Total Equity+	1.8B	1.93B	2.1B	2.3B	2.67B	2.73B	3.04B	3.16B	3.35B	3.62B
Equity Growth %	-0.06%	0.07%	0.08%	0.1%	0.16%	0.03%	0.11%	0.04%	0.06%	0.08%
Book Value per Share	1.54	1.67	1.82	2.00	2.32	2.37	2.64	2.75	2.92	3.15
Total Shareholders' Equity	1.8B	1.93B	2.1B	2.3B	2.67B	2.73B	3.04B	3.16B	3.35B	3.62B
Common Stock	2.9M	2.89M	2.9M	2.9M	2.9M	2.9M	5.8M	5.7M	5.7M	5.7M
Retained Earnings	1.84B	1.94B	2.11B	2.34B	2.63B	2.69B	2.97B	3.22B	3.36B	3.61B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-46.4M	-47.3M	-25.1M	-44.8M	-38.4M	-21.2M	-30.7M	-64.8M	-54.8M	-91.5M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	546.94M	514M	585.2M	674.2M	842.7M	1.1B	770.1M	941M	1.43B	1.17B
Operating CF Margin %	0.14%	0.13%	0.13%	0.14%	0.16%	0.2%	0.13%	0.13%	0.2%	0.16%
Operating CF Growth %	0.1%	-0.06%	0.14%	0.15%	0.25%	0.31%	-0.3%	0.22%	0.52%	-0.18%
Net Income	516.36M	499.48M	578.6M	751.9M	790.9M	859.1M	925M	1.09B	1.16B	1.15B
Depreciation & Amortization	86.07M	103.53M	127.4M	138.2M	148.7M	162.4M	170.7M	176.6M	177.3M	175.4M
Stock-Based Compensation	5.8M	4.1M	5.2M	5.1M	5.7M	5.7M	5.6M	7.2M	7.3M	8M
Deferred Taxes	8.29M	25.57M	-30M	33.8M	15M	2.9M	-13.7M	-4.9M	-10.7M	-4.1M
Other Non-Cash Items	4.62M	2.66M	7.2M	7.6M	4.3M	6.1M	1.4M	-700K	-2.1M	-2.5M
Working Capital Changes	-74.2M	-121.34M	-103.2M	-262.4M	-121.9M	65.6M	-318.9M	-324.1M	105.9M	-154.1M
Change in Receivables	-20.61M	-40.49M	-103.7M	-120.3M	-30.4M	-29.7M	-135.2M	-119.8M	-72.3M	-31.9M
Change in Inventory	-47.83M	-80.85M	-76.3M	-193.3M	-84.4M	36M	-189.5M	-198M	189.1M	-133.9M
Change in Payables	20.62M	-17.23M	36.3M	46.1M	-800K	14.2M	26.1M	21.9M	8.4M	27.5M
Cash from Investing+	-180.63M	-188.09M	-179.3M	-173.9M	-239.7M	-281.7M	-148.5M	-163M	-161.2M	-214.5M
Capital Expenditures	-155.17M	-189.45M	-119.9M	-176.3M	-246.4M	-168.1M	-156.6M	-173.8M	-172.8M	-226.5M
CapEx % of Revenue	0.04%	0.05%	0.03%	0.04%	0.05%	0.03%	0.03%	0.02%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.97M	1.36M	-700K	6.1M	6.7M	11.4M	8.1M	10.8M	-600K	12M
Cash from Financing+	-337.56M	-340.87M	-407.2M	-446.5M	-595.1M	-754.4M	-627.1M	-774.9M	-1.28B	-913.7M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-327.1M	-346.6M	-369.1M	-441.9M	-498.6M	-803.4M	-643.7M	-711.3M	-1.02B	-893.3M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	22.44M	35.23M	9.5M	13.4M	58.5M	41M	31.6M	9.2M	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	391.77M	324.55M	465.3M	497.9M	596.3M	933.7M	613.5M	767.2M	1.26B	946.8M
FCF Margin %	0.1%	0.08%	0.11%	0.1%	0.11%	0.17%	0.1%	0.11%	0.17%	0.13%
FCF Growth %	0.26%	-0.17%	0.43%	0.07%	0.2%	0.57%	-0.34%	0.25%	0.64%	-0.25%
FCF per Share	0.34	0.28	0.40	0.43	0.52	0.81	0.53	0.67	1.10	0.82
FCF Conversion (FCF/Net Income)	1.06x	1.03x	1.01x	0.90x	1.07x	1.28x	0.83x	0.87x	1.24x	1.02x
Interest Paid	3.1M	6.2M	8.7M	12.6M	13.9M	8.4M	9.9M	13.3M	12.2M	7.8M
Taxes Paid	327M	248.3M	304.1M	215.3M	242.7M	260.1M	294M	354.1M	383M	356.5M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	27.79%	26.75%	28.71%	34.18%	31.84%	31.83%	32.03%	35.03%	35.47%	33.04%
Return on Invested Capital (ROIC)	31.65%	28.1%	28.72%	29.79%	27.74%	27.54%	27.75%	30.38%	31%	30.17%
Gross Margin	50.37%	49.59%	49.28%	48.32%	47.16%	45.47%	46.2%	46.07%	45.66%	45.08%
Net Margin	13.35%	12.6%	13.18%	15.14%	14.83%	15.21%	15.39%	15.57%	15.72%	15.25%
Debt / Equity	0.20x	0.20x	0.20x	0.22x	0.22x	0.24x	0.21x	0.25x	0.16x	0.13x
Interest Coverage	267.34x	122.43x	96.90x	79.30x	76.06x	117.71x	125.51x	101.65x	141.55x	206.85x
FCF Conversion	1.06x	1.03x	1.01x	0.90x	1.07x	1.28x	0.83x	0.87x	1.24x	1.02x
Revenue Growth	3.63%	2.4%	10.81%	13.09%	7.42%	5.88%	6.44%	16.13%	5.24%	2.71%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	3.44B	-	-	-	-	-	-	-	-	-
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-
CANADA	223.27M	-	-	-	-	-	-	-	-	-
CANADA Growth	-	-	-	-	-	-	-	-	-	-
Other Countries	204.78M	-	-	-	-	-	-	-	-	-
Other Countries Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	3.44B	3.49B	3.84B	4.29B	9.74B	10.28B	10.82B	12.62B	13.26B	6.27B
UNITED STATES Growth	-	1.52%	10.00%	11.52%	127.39%	5.45%	5.26%	16.67%	5.09%	-52.70%
Canada and Mexico	223.27M	228.69M	257.6M	-	606.8M	625M	749M	884.4M	981.9M	1.04B
Canada and Mexico Growth	-	2.43%	12.64%	-	-	3.00%	19.84%	18.08%	11.02%	5.47%
Non-North America	-	-	-	679.6M	158M	197M	228.6M	229.1M	225M	237.3M
Non-North America Growth	-	-	-	-	-76.75%	24.68%	16.04%	0.22%	-1.79%	5.47%
Other Countries	204.78M	239.89M	290M	-	-	-	-	-	-	-
Other Countries Growth	-	17.15%	20.89%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Fastenal Company (FAST) has a price-to-earnings (P/E) ratio of 43.5x. This suggests investors expect higher future growth.

Growth & Financials

Fastenal Company (FAST) reported $8.00B in revenue for fiscal year 2024. This represents a 189% increase from $2.77B in 2011.

Fastenal Company (FAST) grew revenue by 2.7% over the past year. Growth has been modest.

Yes, Fastenal Company (FAST) is profitable, generating $1.23B in net income for fiscal year 2024 (15.2% net margin).

Dividend & Returns

Yes, Fastenal Company (FAST) pays a dividend with a yield of 1.79%. This makes it attractive for income-focused investors.

Fastenal Company (FAST) has a return on equity (ROE) of 33.0%. This is excellent, indicating efficient use of shareholder capital.

Fastenal Company (FAST) generated $965.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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