Fastenal Co

Consumer Discretionary
RETAIL: Building Materials
www.fastenal.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $45.07B
PE 39
Debt $275.00M
Cash $231.80M
EV $45.11B
FCF $868.50M

Earnings

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Sales & Net Margins

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Earnings	$1.15B
EBIT	$1.51B
ROE	31%
ROA	31%
FCF	$868.50M
Equity	$3.69B
Growth Stability	100%
PE	39.14
PEG	4.55
PB	12.21
P/FCF	51.9
P/S	5.92
Price/Cash	0.01
Debt/Equity	0.07
Debt/FCF	0.32
Net Margins	15%
Gross Margins	45%
Op. Margins	20%
Earnings CAGR	11%
Sales Growth YoY	3%
Sales Growth QoQ	7%
Sales CAGR	9%
FCF CAGR	14%
Equity CAGR	8%
Earnings Stability	0.95
Earnings Growth YoY	0%
Earnings Growth QoQ	14%
Earnings CAGR 5Y	9%

Sales CAGR 5Y	8%
FCF CAGR 5Y	8%
Equity CAGR 5Y	6%
Earnings CAGR 3Y	5%
Sales CAGR 3Y	5%
FCF CAGR 3Y	19%
Equity CAGR 3Y	6%
Market Cap	$45.07B
Revenue	$7.61B
Dividend Yield	2%
Payout Ratio	80%
Assets	$4.87B
Total Debt	$275.00M
Cash	$231.80M
Shares Outstanding	573.47M
EV	45.11B
Earnings Score	94%
Moat Score	96%
Safety Score	98%
Final Score	96%
Working Capital	2.57B
Current Ratio	4.28
Gross Profit	$3.42B
Shares Growth 3y	0%
Equity Growth QoQ	2%
Equity Growth YoY	8%

Assets & ROA

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Stockholders Equity & ROE

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Fastenal opened its first fastener store in 1967 in Winona, Minnesota. Since then, Fastenal has greatly expanded its footprint as well as its products and services. Today, Fastenal serves its 400,000 active customers through approximately 1,760 branches, over 1,400 on-site locations, and 14 distribution centers. Since 1993, the company has added other product categories, but fasteners remain its largest category at about 30%-35% of sales. Fastenal also offers customers supply-chain solutions, such as vending and vendor-managed inventory.

SEC Filings

Direct access to Fastenal Co (FAST) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2025
- 10-Q Mar 31
2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Fastenal Co compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Fastenal Co compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 11%

Stability 95%

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Fastenal Co Discounted Cash Flow

Fully customizable DCF calculator online for Fastenal Co.

Years

Calculation mode

= $24B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$869M	$993M	$1.1B	$1.3B	$1.5B	$1.7B	$1.9B	$2.2B	$2.5B	$2.9B	$3.3B	$33B
DCF		$903M	$938M	$975M	$1B	$1.1B	$1.1B	$1.1B	$1.2B	$1.2B	$1.3B	$13B
Value	$24B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	13%	13%	13%	15%	15%	15%	15%	16%	16%	15%	15%
ROA	-	30%	30%	30%	28%	29%	28%	32%	34%	32%	31%
ROE	-	26%	28%	33%	30%	31%	30%	34%	34%	32%	31%

Good Net Margins (15.24%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	1.23	0.9	1.01	0.58	0.48	0.73	0.99	0.25	0.29	0.32
Debt over Equity	0.24	0.21	0.2	0.22	0.13	0.16	0.15	0.24	0.1	0.08	0.07
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	100%	100%

Good Debt/FCF ratio (0.32)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.07)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	2%	11%	13%	7%	6%	6%	16%	5%	3%	8%
Earnings YoY growth	-	-3%	16%	30%	5%	9%	8%	18%	6%	-0%	9%
Equity YoY growth	-	7%	8%	10%	16%	3%	11%	4%	6%	8%	6%
FCF YoY growth	-	-17%	43%	7%	20%	57%	-34%	25%	64%	-25%	8%