A Business at a Glance
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FASTENAL CO
FAST
$54.3B
Mkt Cap
$47.02
+1.89%
FASTENAL CO (FAST) has a current P/E ratio of 43.1, compared to its historical median P/E of 34.3. The stock is currently considered Expensive based on its historical valuation range.
FASTENAL CO (FAST) has a 5-year average return on invested capital (ROIC) of 32.9%. This indicates strong capital allocation and a potential competitive advantage.
FASTENAL CO (FAST) has a market capitalization of $54.0B. It is classified as a large-cap stock.
Yes, FASTENAL CO (FAST) pays a dividend with a trailing twelve-month yield of 1.91%.
Based on historical P/E analysis, FASTENAL CO (FAST) appears expensive. The current P/E of 43.1 is 26% above its historical median of 34.3. The estimated fair value CAGR (P/E method) is 12.2%.
FASTENAL CO (FAST) operates in the Retail-Building Materials, Hardware, Garden Supply industry, within the Consumer Cyclical sector.
FASTENAL CO (FAST) reported annual revenue of $8.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Fastenal is a global industrial and construction supplies distributor operating through a network of 1,595 branch locations across 25 countries, supported by 15 distribution centers, serving approximately 250,000 unique customer sites annually. The company sells more than nine major product lines—primarily fasteners and related industrial supplies—through diverse channels including physical branch locations, Fastenal Managed Inventory (FMI) programs (FASTVend vending devices, FASTBin and FASTStock bin-stock solutions), integrated supply programs, eBusiness platforms, and advanced manufacturing services. Revenue is generated primarily through business-to-business transactions, with the company segmenting customers by monthly spend level ($50k+, $10k+, $5k+, and other), and emphasizing high-value customer relationships; electronic transactions account for approximately 30% of total sales. The company's competitive advantages include its extensive integrated distribution network enabling rapid local delivery, proprietary FMI technology that automates inventory management and replenishment at customer sites, and a large installed base of approximately 124,000 vending devices with significant room for expansion toward an estimated market potential of 1.7 million units. Unit economics are characterized by recurring, high-frequency transactions through managed inventory programs that foster sticky customer relationships, while the company pursues pricing actions to offset input cost inflation and tariff impacts. Geographic footprint spans North America (12 U.S. distribution centers, two in Canada, one in Mexico), Asia (two centers), and Europe (two centers), with customers across manufacturing and non-manufacturing sectors.
【Market momentum and pricing dynamics】 Management expects double-digit net sales growth in 2026 supported by FMI technology and digital solutions, with cautiously optimistic sentiment regarding market expansion and continued share gains. Pricing actions are expected to continue at a slower pace than prior periods as the company pursues price-cost neutrality, with carryover pricing impacts anticipated to contribute to 2026 results; however, pricing realization has lagged expectations due to tariff timing, customer contract terms with fixed pricing periods, and market fatigue. The company anticipates ongoing challenges in industrial production and macro uncertainty, though regional leadership reflects generally favorable outlooks for continued strong growth. Capital expenditure for 2026 is planned at approximately $320 million (approximately 3.5% of net sales) to invest in hub capacity, FMI devices, automation, and technology enhancements designed to drive efficiency and customer value. Management remains focused on managing tariff impacts and pursuing product substitution opportunities while maintaining disciplined pricing strategies.
| Metric | Target | Period |
|---|---|---|
| Net CapEx | approximately $320 million | FY2026 |
| Net sales growth | double-digit | FY2026 |
Net CapEx (FY2026): “For full year 2026, we continue to expect net CapEx of approximately $320 million as we invest in hub capacity, FMI devices, automation, and technology.”
Net sales growth (FY2026): “we anticipate double-digit net sales growth in 2026, supported by FMI technology and digital solutions”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 8.4B | 8.2B | 7.5B | 7.3B | 7.0B | 6.0B |
| Net Income | 1.3B | 1.3B | 1.2B | 1.2B | 1.1B | 925M |
| EPS | $1.13 | $1.09 | $0.50 | $0.51 | $0.95 | $0.80 |
| Free Cash Flow | 1.2B | 1.1B | 947M | 1.3B | 767M | 614M |
| ROIC | 34.1% | 34.2% | 33.2% | 33.7% | 32.8% | 30.6% |
| Gross Margin | 44.9% | 45.0% | 45.1% | 45.7% | 46.1% | 46.2% |
| Debt/Equity | 0.03 | 0.03 | 0.06 | 0.08 | 0.18 | 0.13 |
| Dividends/Share | $0.90 | $0.88 | $0.39 | $0.45 | $0.62 | $0.56 |
| Operating Income | 1.7B | 1.7B | 1.5B | 1.5B | 1.5B | 1.2B |
| Operating Margin | 20.2% | 20.2% | 20.0% | 20.8% | 20.8% | 20.3% |
| ROE | 32.6% | 33.3% | 33.0% | 35.5% | 35.0% | 32.0% |
| Shares Outstanding | 1,148M | 1,154M | 2,301M | 2,287M | 1,150M | 1,156M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.7B | 3.9B | 4.0B | 4.4B | 5.0B | 5.3B | 5.6B | 6.0B | 7.0B | 7.3B | 7.5B | 8.2B | 8.4B |
| Gross Margin | 50.8% | 50.4% | 49.6% | 49.3% | 48.3% | 47.2% | 45.5% | 46.2% | 46.1% | 45.7% | 45.1% | 45.0% | 44.9% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.1B | 1.1B | 1.2B | 1.3B | 1.4B | 1.5B | 1.4B | 1.6B | 1.8B | 1.8B | 1.9B | 2.0B | 2.1B |
| EBIT | 788M | 829M | 796M | 882M | 999M | 1.1B | 1.1B | 1.2B | 1.5B | 1.5B | 1.5B | 1.7B | 1.7B |
| Op. Margin | 21.1% | 21.4% | 20.1% | 20.1% | 20.1% | 19.8% | 20.2% | 20.3% | 20.8% | 20.8% | 20.0% | 20.2% | 20.2% |
| Net Income | 494M | 516M | 499M | 579M | 752M | 791M | 859M | 925M | 1.1B | 1.2B | 1.2B | 1.3B | 1.3B |
| Net Margin | 13.2% | 13.3% | 12.6% | 13.2% | 15.1% | 14.8% | 15.2% | 15.4% | 15.6% | 15.7% | 15.2% | 15.3% | 15.4% |
| Non-Recurring | 964K | 1.4M | 500K | 1.0M | 500K | 1.2M | 1.4M | 1.1M | -1.1M | 4.3M | 3.8M | 3.1M | 3.1M |
| Returns on Capital | |||||||||||||
| ROIC | 26.8% | 25.6% | 22.8% | 24.4% | 29.4% | 29.3% | 30.2% | 30.6% | 32.8% | 33.7% | 33.2% | 34.2% | 34.1% |
| ROE | 26.8% | 27.8% | 26.7% | 28.7% | 34.2% | 31.8% | 31.8% | 32.0% | 35.0% | 35.5% | 33.0% | 33.3% | 32.6% |
| ROA | 22.3% | 21.1% | 19.2% | 20.7% | 24.1% | 22.2% | 22.1% | 22.4% | 24.6% | 25.6% | 25.1% | 25.8% | 24.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 499M | 550M | 520M | 585M | 674M | 843M | 1.1B | 770M | 941M | 1.4B | 1.2B | 1.3B | 1.4B |
| Free Cash Flow | 310M | 395M | 330M | 465M | 498M | 596M | 934M | 614M | 767M | 1.3B | 947M | 1.1B | 1.2B |
| Owner Earnings | 420M | 458M | 412M | 453M | 531M | 688M | 934M | 594M | 757M | 1.2B | 990M | 1.1B | 1.2B |
| CapEx | 189M | 155M | 190M | 120M | 176M | 246M | 168M | 157M | 174M | 173M | 227M | 245M | 249M |
| Maint. CapEx | 73M | 87M | 104M | 127M | 138M | 149M | 162M | 171M | 177M | 177M | 175M | 179M | 179M |
| Growth CapEx | 117M | 69M | 86M | 0 | 38M | 98M | 5.7M | 0 | 0 | 0 | 51M | 66M | 69M |
| D&A | 73M | 87M | 104M | 127M | 138M | 149M | 162M | 171M | 177M | 177M | 175M | 179M | 179M |
| CapEx/OCF | 37.9% | 28.2% | 36.4% | 20.5% | 26.1% | 29.2% | 15.3% | 20.3% | 18.5% | 12.1% | 19.3% | 18.9% | 17.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 297M | 327M | 347M | 369M | 442M | 499M | 803M | 644M | 711M | 1.0B | 893M | 1.0B | 1.0B |
| Dividend Yield | 2.9% | 3.6% | 1.8% | 1.7% | 1.7% | 3.2% | 3.9% | 2.3% | 2.6% | 1.7% | 1.1% | 2.1% | 1.9% |
| Share Buybacks | 53M | 293M | 60M | 83M | 103M | 0 | 52M | 0 | 238M | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.5% | 3.2% | 0.3% | 0.3% | 0.4% | N/A | 0.2% | N/A | 1.0% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 7.0M | 5.8M | 4.1M | 5.2M | 5.1M | 5.7M | 5.7M | 5.6M | 7.2M | 7.3M | 8.0M | 8.4M | 9.0M |
| Debt Repayment | 615M | 955M | 920M | 980M | 895M | 1.1B | 940M | 540M | 1.6B | 1.2B | 835M | 1.2B | 1.2B |
| Balance Sheet | |||||||||||||
| Net Debt | -24M | 236M | 277M | 298M | 333M | 170M | 159M | 154M | 325M | 39M | -56M | -152M | -184M |
| Cash & Equiv. | 114M | 129M | 113M | 117M | 167M | 175M | 246M | 236M | 230M | 221M | 256M | 277M | 309M |
| Long-Term Debt | 0 | 303M | 380M | 412M | 497M | 342M | 365M | 330M | 353M | 200M | 125M | 100M | 100M |
| Debt/Equity | 0.05 | 0.20 | 0.20 | 0.20 | 0.22 | 0.13 | 0.15 | 0.13 | 0.18 | 0.08 | 0.06 | 0.03 | 0.03 |
| Interest Coverage | 860.8 | 267.4 | 122.4 | 96.9 | 79.3 | 76.1 | 117.7 | 125.5 | 101.7 | 141.5 | 359.5 | 267.0 | 267.0 |
| Equity | 1.9B | 1.8B | 1.9B | 2.1B | 2.3B | 2.7B | 2.7B | 3.0B | 3.2B | 3.3B | 3.6B | 3.9B | 4.0B |
| Total Assets | 2.4B | 2.5B | 2.7B | 2.9B | 3.3B | 3.8B | 4.0B | 4.3B | 4.5B | 4.5B | 4.7B | 5.1B | 5.2B |
| Total Liabilities | 444M | 731M | 736M | 814M | 1.0B | 1.1B | 1.2B | 1.3B | 1.4B | 1.1B | 1.1B | 1.1B | -17M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 1.9B | 1.8B | 1.9B | 2.1B | 2.3B | 2.6B | 2.7B | 3.0B | 3.2B | 3.4B | 3.6B | 3.9B | 3.9B |
| Working Capital | 1.2B | 1.3B | 1.4B | 1.6B | 1.9B | 1.9B | 1.9B | 2.2B | 2.3B | 2.4B | 2.5B | 2.8B | 2.8B |
| Current Assets | 1.6B | 1.7B | 1.7B | 1.9B | 2.3B | 2.5B | 2.5B | 2.9B | 3.1B | 3.0B | 3.2B | 3.5B | 3.6B |
| Current Liabilities | 375M | 373M | 276M | 351M | 437M | 545M | 613M | 682M | 790M | 661M | 687M | 716M | 824M |
| Per Share Data | |||||||||||||
| EPS | 0.42 | 0.44 | 0.22 | 0.25 | 0.33 | 0.69 | 0.75 | 0.80 | 0.95 | 0.51 | 0.50 | 1.09 | 1.13 |
| Owner EPS | 0.35 | 0.39 | 0.18 | 0.20 | 0.23 | 0.60 | 0.81 | 0.51 | 0.66 | 0.55 | 0.43 | 0.96 | 1.07 |
| Book Value | 1.61 | 1.54 | 0.84 | 0.91 | 1.00 | 2.33 | 2.37 | 2.63 | 2.75 | 1.46 | 1.57 | 3.42 | 3.48 |
| Cash Flow/Share | 0.42 | 0.47 | 0.22 | 0.25 | 0.29 | 0.74 | 0.96 | 0.67 | 0.82 | 0.63 | 0.51 | 1.12 | 1.29 |
| Dividends/Share | 0.25 | 0.28 | 0.15 | 0.16 | 0.19 | 0.44 | 0.70 | 0.56 | 0.62 | 0.45 | 0.39 | 0.88 | 0.90 |
| Shares Out. | 1.2B | 1.2B | 2.3B | 2.3B | 2.3B | 1.1B | 1.2B | 1.2B | 1.2B | 2.3B | 2.3B | 1.2B | 1.1B |
| Valuation | |||||||||||||
| P/E Ratio | 21.4 | 17.8 | 43.1 | 44.5 | 33.0 | 22.8 | 29.6 | 36.0 | 22.9 | 30.6 | 35.6 | 37.9 | 41.5 |
| P/FCF | 34.1 | 23.3 | 65.1 | 55.3 | 49.8 | 30.3 | 27.2 | 54.2 | 32.4 | 56.0 | 86.4 | 45.4 | 46.4 |
| EV/EBIT | 13.4 | 11.4 | 27.4 | 29.5 | 25.2 | 17.3 | 22.4 | 27.3 | 17.3 | 23.0 | 26.9 | 28.6 | 31.5 |
| Price/Book | 5.5 | 5.1 | 11.1 | 12.3 | 10.8 | 6.8 | 9.3 | 10.9 | 7.9 | 10.5 | 11.3 | 12.1 | 13.5 |
| Price/Sales | 2.7 | 2.3 | 5.0 | 4.9 | 5.2 | 2.9 | 3.7 | 4.6 | 3.9 | 4.1 | 5.2 | 5.8 | 6.4 |
| FCF Yield | 2.9% | 4.3% | 1.5% | 1.8% | 2.0% | 3.3% | 3.7% | 1.8% | 3.1% | 3.6% | 2.3% | 2.2% | 2.2% |
| Market Cap | 10.6B | 9.2B | 21.5B | 25.8B | 24.8B | 18.1B | 25.4B | 33.3B | 24.8B | 35.3B | 40.9B | 47.7B | 54.0B |
| Avg. Price | 8.57 | 7.74 | 8.50 | 9.34 | 11.17 | 13.67 | 18.00 | 23.72 | 23.92 | 26.06 | 34.22 | 41.30 | 47.02 |
| Year-End Price | 8.87 | 7.89 | 9.30 | 11.13 | 10.81 | 15.77 | 22.06 | 28.77 | 21.60 | 30.88 | 35.55 | 41.33 | 47.02 |
FASTENAL CO passes 5 of 9 quality checks, suggesting mixed fundamentals.
FASTENAL CO trades at 43.1x trailing earnings, compared to its 15-year median P/E of 34.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 51.7x vs a median of 52.0x. The company's 5-year average ROIC is 32.9% with a gross margin of 45.6%. Total shareholder yield (dividends) is 1.9%. At current prices, the estimated annualized return to fair value is +14.3%.
FASTENAL CO (FAST) has a net profit margin of 15.3%. This is a healthy margin.
FASTENAL CO (FAST) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FASTENAL CO (FAST) has a debt-to-equity ratio of 0.03. This indicates a conservatively financed balance sheet.
FASTENAL CO (FAST) reported earnings per share (EPS) of $1.09 in its most recent fiscal year.
FASTENAL CO (FAST) has a return on equity (ROE) of 33.3%. This indicates the company generates strong returns for shareholders.
FASTENAL CO (FAST) has a 5-year average gross margin of 45.6%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for FASTENAL CO (FAST), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FASTENAL CO (FAST) has a book value per share of $3.42, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects double-digit net sales growth in 2026 supported by FMI technology and digital solutions, with cautiously optimistic sentiment regarding market expansion and continued share gains. Pricing actions are expected to continue at a slower pace than prior periods as the company pursues price-cost neutrality, with carryover pricing impacts anticipated to contribute to 2026 results; however, pricing realization has lagged expectations due to tariff timing, customer contract terms with fixed pricing periods, and market fatigue. The company anticipates ongoing challenges in industrial production and macro uncertainty, though regional leadership reflects generally favorable outlooks for continued strong growth. Capital expenditure for 2026 is planned at approximately $320 million (approximately 3.5% of net sales) to invest in hub capacity, FMI devices, automation, and technology enhancements designed to drive efficiency and customer value. Management remains focused on managing tariff impacts and pursuing product substitution opportunities while maintaining disciplined pricing strategies.
Based on recent SEC filings and earnings calls, FASTENAL CO (FAST) has provided the following forward guidance: Net CapEx: approximately $320 million (FY2026); Net sales growth: double-digit (FY2026).
No recent press releases.