Fastenal (FAST) Financials

$47.99 +0.51 (+1.07%)

Closing price 08/8/2025 04:00 PM Eastern

Extended Trading

$48.25 +0.26 (+0.54%)

As of 08/8/2025 07:56 PM Eastern

Annual Income Statements for Fastenal

This table shows Fastenal's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	494	516	499	579	752	791	859	925	1,087	1,155	1,151
Consolidated Net Income / (Loss)	494	516	499	579	752	791	859	925	1,087	1,155	1,151
Net Income / (Loss) Continuing Operations	494	516	499	579	752	791	859	925	1,087	1,155	1,151
Total Pre-Tax Income	787	826	790	873	987	1,044	1,133	1,208	1,440	1,522	1,508
Total Operating Income	788	829	796	882	999	1,057	1,142	1,217	1,454	1,529	1,510
Total Gross Profit	1,897	1,949	1,965	2,164	2,399	2,515	2,568	2,777	3,216	3,355	3,402
Total Revenue	3,734	3,869	3,962	4,391	4,965	5,334	5,647	6,011	6,981	7,347	7,546
Operating Revenue	3,734	3,869	3,962	4,391	4,965	5,334	5,647	6,011	6,981	7,347	7,546
Total Cost of Revenue	1,836	1,920	1,997	2,227	2,566	2,818	3,080	3,234	3,765	3,992	4,144
Operating Cost of Revenue	1,836	1,920	1,997	2,227	2,566	2,818	3,080	3,234	3,765	3,992	4,144
Total Operating Expenses	1,110	1,120	1,169	1,282	1,400	1,458	1,426	1,560	1,762	1,826	1,892
Selling, General & Admin Expense	1,111	1,122	1,170	1,283	1,400	1,458	1,426	1,560	1,762	1,826	1,892
Total Other Income / (Expense), net	-0.16	-2.70	-6.10	-8.70	-12	-14	-9.10	-9.60	-14	-6.70	-1.90
Interest Expense	0.92	3.10	6.50	9.10	13	14	9.70	9.70	14	11	7.30
Interest & Investment Income	0.76	0.40	0.40	0.40	0.40	0.40	0.60	0.10	0.70	4.10	5.40
Income Tax Expense	293	310	290	295	235	253	274	283	353	367	358
Basic Earnings per Share	$1.67	$1.77	$1.73	$1.00	$1.31	$1.38	$1.50	$1.61	$1.89	$2.02	$2.01
Weighted Average Basic Shares Outstanding	296.49M	291.45M	288.95M	576.40M	573.93M	573.20M	573.78M	574.81M	573.78M	571.27M	572.71M
Diluted Earnings per Share	$1.66	$1.77	$1.73	$1.00	$1.31	$1.38	$1.49	$1.60	$1.89	$2.02	$2.00
Weighted Average Diluted Shares Outstanding	297.31M	292.05M	289.16M	576.70M	574.33M	574.44M	575.67M	577.12M	575.62M	573.01M	574.28M
Weighted Average Basic & Diluted Shares Outstanding	295.88M	288.40M	289.25M	287.90M	285.93M	574.23M	574.32M	575.55M	570.83M	572.23M	573.42M
Cash Dividends to Common per Share	$1.00	-	-	$1.28	$1.54	$0.87	$1.40	$1.12	$1.24	$1.78	$1.56

This table shows Fastenal's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	246	295	298	296	266	298	293	298	262	299	330
Consolidated Net Income / (Loss)	246	295	298	296	266	298	293	298	262	299	330
Net Income / (Loss) Continuing Operations	246	295	298	296	266	298	293	298	262	299	330
Total Pre-Tax Income	328	390	393	385	354	390	386	388	344	393	437
Total Operating Income	333	393	395	387	354	390	387	388	345	394	436
Total Gross Profit	768	850	858	848	799	862	864	859	818	884	943
Total Revenue	1,696	1,859	1,883	1,846	1,759	1,895	1,916	1,910	1,825	1,959	2,080
Operating Revenue	1,696	1,859	1,883	1,846	1,759	1,895	1,916	1,910	1,825	1,959	2,080
Total Cost of Revenue	927	1,009	1,026	998	959	1,034	1,053	1,052	1,006	1,076	1,138
Operating Cost of Revenue	927	1,009	1,026	998	959	1,034	1,053	1,052	1,006	1,076	1,138
Total Operating Expenses	435	457	463	461	446	471	477	471	473	490	507
Selling, General & Admin Expense	435	457	463	461	446	471	477	471	473	490	507
Total Other Income / (Expense), net	-4.70	-3.50	-2.30	-1.30	0.40	-0.40	-0.50	-0.50	-0.50	-0.80	0.50
Interest Expense	5.00	3.90	2.90	2.10	1.90	2.00	1.80	1.80	1.70	1.70	2.20
Interest & Investment Income	0.30	0.40	0.60	0.80	2.30	1.60	1.30	1.30	1.20	0.90	2.70
Income Tax Expense	83	95	95	90	88	92	94	90	82	94	106
Basic Earnings per Share	$0.42	$0.52	$0.52	$0.52	$0.46	$0.52	$0.26	$0.52	$0.46	$0.52	$0.29
Weighted Average Basic Shares Outstanding	573.78M	570.93M	571.14M	571.37M	571.27M	572.34M	1.15B	572.74M	572.71M	573.47M	1.15B
Diluted Earnings per Share	$0.42	$0.52	$0.52	$0.52	$0.46	$0.52	$0.25	$0.52	$0.45	$0.52	$0.29
Weighted Average Diluted Shares Outstanding	575.62M	572.63M	572.89M	573.10M	573.01M	574.09M	1.15B	574.18M	574.28M	574.76M	1.15B
Weighted Average Basic & Diluted Shares Outstanding	570.83M	571.04M	571.33M	571.41M	572.23M	572.55M	572.65M	572.89M	573.42M	573.62M	1.15B
Cash Dividends to Common per Share	-	$0.35	$0.35	$0.35	-	$0.39	-	$0.39	-	$0.43	$0.22

This table details how cash moves in and out of Fastenal's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	56	15	-16	4.20	50	7.70	71	-9.50	-6.10	-8.80	35
Net Cash From Operating Activities	499	550	520	585	674	843	1,102	770	941	1,433	1,173
Net Cash From Continuing Operating Activities	499	550	520	585	674	843	1,102	770	941	1,433	1,173
Net Income / (Loss) Continuing Operations	494	516	499	579	752	791	859	925	1,087	1,155	1,151
Consolidated Net Income / (Loss)	494	516	499	579	752	791	859	925	1,087	1,155	1,151
Depreciation Expense	72	86	104	124	134	145	153	160	166	167	165
Amortization Expense	0.53	0.50	0.50	3.80	4.10	4.10	9.10	11	11	11	11
Non-Cash Adjustments To Reconcile Net Income	15	13	12	12	13	10	12	7.00	6.50	5.20	5.50
Changes in Operating Assets and Liabilities, net	-83	-66	-96	-133	-229	-107	69	-333	-329	95	-158
Net Cash From Investing Activities	-189	-181	-188	-179	-174	-240	-282	-149	-163	-161	-215
Net Cash From Continuing Investing Activities	-189	-181	-188	-179	-174	-240	-282	-149	-163	-161	-215
Purchase of Property, Plant & Equipment	-189	-155	-190	-120	-176	-246	-168	-157	-174	-173	-227
Sale of Property, Plant & Equipment	5.82	9.90	6.50	7.40	9.50	6.60	11	8.40	11	12	12
Other Investing Activities, net	-0.00	-12	-5.10	-8.10	-3.40	0.10	0.80	-0.30	-0.60	-0.60	-0.40
Net Cash From Financing Activities	-250	-341	-347	-407	-447	-595	-754	-627	-775	-1,282	-914
Net Cash From Continuing Financing Activities	-250	-341	-347	-407	-447	-595	-754	-627	-775	-1,282	-914
Repayment of Debt	-615	-955	-920	-980	-895	-1,065	-940	-540	-1,630	-1,175	-835
Repurchase of Common Equity	-53	-293	-60	-83	-103	0.00	-52	0.00	-238	0.00	0.00
Payment of Dividends	-297	-327	-347	-369	-442	-499	-803	-644	-711	-1,017	-893
Issuance of Debt	705	1,215	950	1,015	980	910	1,000	525	1,795	880	775
Other Financing Activities, net	9.79	19	29	9.50	13	59	41	32	9.20	30	40
Effect of Exchange Rate Changes	-4.89	-14	-1.30	5.50	-3.50	-0.20	5.10	-4.00	-9.20	1.40	-11
Cash Interest Paid	0.92	3.10	6.20	8.70	13	14	8.40	9.90	13	12	7.80
Cash Income Taxes Paid	258	327	248	304	215	243	260	294	354	383	357

This table details how cash moves in and out of Fastenal's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-1.40	9.70	3.80	54	-76	16	18	37	-36	-24	6.00
Net Cash From Operating Activities	302	389	302	388	354	336	258	297	283	262	279
Net Cash From Continuing Operating Activities	302	389	302	393	350	336	258	297	283	262	279
Net Income / (Loss) Continuing Operations	246	295	298	296	266	298	293	298	262	299	330
Consolidated Net Income / (Loss)	246	295	298	296	266	298	293	298	262	299	330
Depreciation Expense	42	42	42	42	41	40	41	42	42	42	42
Amortization Expense	2.60	2.70	2.70	2.60	2.70	2.70	2.70	2.60	2.70	2.70	2.70
Non-Cash Adjustments To Reconcile Net Income	1.80	-0.10	2.90	1.50	0.90	0.50	1.20	1.10	2.70	3.50	0.90
Changes in Operating Assets and Liabilities, net	9.80	49	-44	51	39	-5.50	-80	-47	-26	-85	-98
Net Cash From Investing Activities	-41	-31	-54	-43	-33	-48	-53	-56	-58	-54	-65
Net Cash From Continuing Investing Activities	-41	-31	-54	-43	-33	-48	-53	-56	-58	-54	-65
Purchase of Property, Plant & Equipment	-43	-34	-56	-47	-36	-51	-56	-59	-60	-56	-69
Sale of Property, Plant & Equipment	1.30	2.80	2.00	4.00	3.40	2.50	3.50	3.60	2.80	1.90	5.00
Other Investing Activities, net	0.10	-0.10	-0.30	-0.10	-0.10	-0.10	-0.10	-0.10	-0.10	0.00	-0.20
Net Cash From Financing Activities	-269	-349	-243	-287	-403	-267	-186	-211	-250	-236	-216
Net Cash From Continuing Financing Activities	-269	-349	-243	-287	-403	-267	-186	-211	-250	-236	-216
Repayment of Debt	-405	-385	-455	-245	-90	-220	-190	-200	-225	-155	-490
Payment of Dividends	-177	-200	-200	-200	-417	-223	-223	-223	-223	-247	-252
Issuance of Debt	405	230	405	155	90	160	225	205	185	155	520
Other Financing Activities, net	1.40	5.90	6.60	2.90	15	16	2.80	7.70	13	11	6.10
Effect of Exchange Rate Changes	6.80	1.10	-0.80	-4.30	5.40	-4.00	-1.40	6.40	-12	3.10	8.20
Cash Interest Paid	4.10	5.10	3.10	2.10	1.90	2.40	1.80	1.80	1.80	1.50	2.70
Cash Income Taxes Paid	97	9.70	184	94	95	16	166	88	87	22	163

This table presents Fastenal's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,359	2,532	2,669	2,911	3,322	3,800	3,965	4,299	4,549	4,463	4,698
Total Current Assets	1,583	1,665	1,721	1,936	2,316	2,457	2,500	2,857	3,125	3,021	3,212
Cash & Equivalents	114	129	113	117	167	175	246	236	230	221	256
Accounts Receivable	462	468	500	608	714	742	769	900	1,013	1,088	1,109
Inventories, net	869	913	993	1,093	1,279	1,366	1,338	1,524	1,708	1,523	1,645
Current Deferred & Refundable Income Taxes	22	23	13	0.00	9.00	17	6.70	8.50	8.10	18	19
Other Current Assets	116	132	103	118	147	157	140	188	165	172	184
Plant, Property, & Equipment, net	764	819	900	894	925	1,023	1,031	1,019	1,010	1,011	1,057
Total Noncurrent Assets	12	49	48	81	81	320	434	423	414	431	430
Other Noncurrent Operating Assets	12	49	48	81	81	320	434	423	414	431	430
Total Liabilities & Shareholders' Equity	2,359	2,532	2,669	2,911	3,322	3,800	3,965	4,299	4,549	4,463	4,698
Total Liabilities	444	731	736	814	1,019	1,134	1,232	1,257	1,385	1,114	1,082
Total Current Liabilities	375	373	276	351	437	545	613	682	790	661	687
Short-Term Debt	90	62	11	3.00	3.00	3.00	40	60	202	60	75
Accounts Payable	104	126	109	148	194	193	207	233	255	264	288
Accrued Expenses	174	185	156	194	241	252	272	298	241	241	226
Current Deferred & Payable Income Tax Liabilities	7.44	-	0.00	6.50	-	-	-	-	-	-	0.00
Other Current Liabilities	-	-	-	-	0.00	97	94	91	92	96	99
Total Noncurrent Liabilities	69	358	460	463	581	590	619	575	596	453	395
Long-Term Debt	0.00	303	380	412	497	342	365	330	353	200	125
Noncurrent Deferred & Payable Income Tax Liabilities	69	55	81	51	84	99	102	89	84	73	69
Other Noncurrent Operating Liabilities	-	-	-	-	0.00	148	152	156	159	180	201
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,915	1,801	1,933	2,097	2,303	2,666	2,733	3,042	3,163	3,349	3,616
Total Preferred & Common Equity	1,915	1,801	1,933	2,097	2,303	2,666	2,733	3,042	3,163	3,349	3,616
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,915	1,801	1,933	2,097	2,303	2,666	2,733	3,042	3,163	3,349	3,616
Common Stock	37	4.92	40	11	5.90	70	65	102	9.30	47	94
Retained Earnings	1,886	1,843	1,940	2,111	2,342	2,634	2,690	2,971	3,219	3,357	3,614
Accumulated Other Comprehensive Income / (Loss)	-7.84	-46	-47	-25	-45	-38	-21	-31	-65	-55	-92

This table presents Fastenal's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	4,549	4,577	4,577	4,597	4,463	4,533	4,604	4,738	4,698	4,871	5,016
Total Current Assets	3,125	3,162	3,137	3,148	3,021	3,084	3,147	3,261	3,212	3,358	3,462
Cash & Equivalents	230	240	244	298	221	237	256	292	256	232	238
Accounts Receivable	1,013	1,150	1,172	1,171	1,088	1,213	1,205	1,201	1,109	1,279	1,324
Inventories, net	1,708	1,652	1,565	1,514	1,523	1,496	1,505	1,560	1,645	1,674	1,726
Current Deferred & Refundable Income Taxes	8.10	0.00	15	15	18	0.00	17	17	19	0.00	15
Other Current Assets	165	120	142	150	172	137	165	191	184	174	159
Plant, Property, & Equipment, net	1,010	1,004	1,010	1,012	1,011	1,013	1,026	1,044	1,057	1,076	1,101
Total Noncurrent Assets	414	412	430	437	431	436	431	434	430	437	454
Other Noncurrent Operating Assets	414	412	430	437	431	436	431	434	430	437	454
Total Liabilities & Shareholders' Equity	4,549	4,577	4,577	4,597	4,463	4,533	4,604	4,738	4,698	4,871	5,016
Total Liabilities	1,385	1,306	1,196	1,130	1,114	1,104	1,108	1,141	1,082	1,181	1,209
Total Current Liabilities	790	863	737	668	661	638	717	742	687	785	820
Short-Term Debt	202	200	150	60	60	0.00	110	115	75	75	130
Accounts Payable	255	267	262	275	264	276	293	302	288	341	319
Accrued Expenses	241	229	230	236	241	208	216	226	226	216	257
Current Deferred & Payable Income Tax Liabilities	-	76	-	-	-	57	-	-	-	52	7.80
Other Current Liabilities	92	91	95	97	96	97	98	99	99	101	106
Total Noncurrent Liabilities	596	443	459	462	453	466	391	399	395	395	389
Long-Term Debt	353	200	200	200	200	200	125	125	125	125	100
Noncurrent Deferred & Payable Income Tax Liabilities	84	84	84	79	73	74	74	76	69	70	70
Other Noncurrent Operating Liabilities	159	159	175	183	180	192	192	199	201	201	218
Commitments & Contingencies	0.00	-	-	-	0.00	-	-	-	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,163	3,271	3,381	3,467	3,349	3,429	3,496	3,597	3,616	3,690	3,807
Total Preferred & Common Equity	3,163	3,271	3,381	3,467	3,349	3,429	3,496	3,597	3,616	3,690	3,807
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,163	3,271	3,381	3,467	3,349	3,429	3,496	3,597	3,616	3,690	3,807
Common Stock	9.30	17	26	30	47	65	69	79	94	108	116
Retained Earnings	3,219	3,314	3,412	3,508	3,357	3,431	3,501	3,576	3,614	3,666	3,743
Accumulated Other Comprehensive Income / (Loss)	-65	-61	-57	-72	-55	-67	-75	-57	-92	-83	-52

This table displays calculated financial ratios and metrics derived from Fastenal's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.25%	3.63%	2.40%	10.82%	13.09%	7.42%	5.88%	6.44%	16.13%	5.24%	2.71%
EBITDA Growth	10.74%	6.41%	-1.70%	12.16%	12.70%	6.02%	8.15%	6.43%	17.44%	4.65%	-1.21%
EBIT Growth	10.51%	5.23%	-3.98%	10.81%	13.31%	5.80%	8.00%	6.62%	19.40%	5.17%	-1.22%
NOPAT Growth	10.29%	4.82%	-2.86%	16.12%	30.26%	5.25%	8.10%	7.66%	17.68%	5.73%	-0.69%
Net Income Growth	10.15%	4.50%	-3.29%	15.86%	29.95%	5.19%	8.62%	7.67%	17.50%	6.27%	-0.38%
EPS Growth	9.93%	6.63%	-2.26%	15.86%	29.95%	5.34%	7.97%	7.38%	18.13%	6.88%	-0.99%
Operating Cash Flow Growth	20.01%	10.19%	-5.52%	12.56%	15.21%	24.99%	30.75%	-30.11%	22.19%	52.25%	-18.11%
Free Cash Flow Firm Growth	47.72%	17.11%	-11.15%	21.09%	30.25%	15.41%	34.66%	-22.29%	28.02%	56.59%	-22.34%
Invested Capital Growth	10.33%	7.75%	8.50%	8.35%	10.04%	7.60%	2.00%	10.49%	9.14%	-2.88%	5.11%
Revenue Q/Q Growth	3.11%	-0.09%	0.64%	3.31%	2.97%	0.86%	1.46%	2.98%	2.40%	0.87%	0.88%
EBITDA Q/Q Growth	4.11%	-0.32%	0.75%	2.44%	3.05%	0.63%	2.32%	2.82%	2.08%	1.15%	-0.47%
EBIT Q/Q Growth	4.22%	-1.17%	0.42%	2.42%	3.11%	0.52%	2.28%	3.09%	2.26%	1.39%	-0.60%
NOPAT Q/Q Growth	4.08%	-1.15%	0.67%	7.02%	2.31%	1.15%	2.02%	3.93%	1.49%	1.48%	-0.31%
Net Income Q/Q Growth	4.03%	-1.23%	0.58%	6.95%	2.23%	1.27%	2.07%	3.94%	1.34%	1.83%	-0.37%
EPS Q/Q Growth	3.75%	0.00%	0.58%	6.95%	2.23%	1.47%	1.36%	3.23%	1.61%	2.02%	-0.50%
Operating Cash Flow Q/Q Growth	15.12%	-3.19%	-2.86%	-0.63%	7.79%	9.68%	6.64%	-17.61%	18.29%	3.77%	-5.72%
Free Cash Flow Firm Q/Q Growth	31.30%	-13.12%	18.20%	-4.91%	3.93%	13.73%	10.92%	-19.04%	19.18%	5.17%	-5.82%
Invested Capital Q/Q Growth	0.03%	2.54%	0.14%	2.66%	2.31%	-0.13%	-2.24%	3.79%	0.10%	-1.21%	0.43%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	50.82%	50.37%	49.59%	49.28%	48.32%	47.16%	45.47%	46.20%	46.07%	45.66%	45.08%
EBITDA Margin	23.04%	23.66%	22.71%	22.99%	22.91%	22.61%	23.09%	23.09%	23.35%	23.22%	22.34%
Operating Margin	21.10%	21.42%	20.09%	20.08%	20.12%	19.82%	20.22%	20.25%	20.82%	20.81%	20.01%
EBIT Margin	21.10%	21.42%	20.09%	20.08%	20.12%	19.82%	20.22%	20.25%	20.82%	20.81%	20.01%
Profit (Net Income) Margin	13.24%	13.35%	12.60%	13.18%	15.14%	14.83%	15.21%	15.39%	15.57%	15.72%	15.25%
Tax Burden Percent	62.75%	62.51%	63.24%	66.27%	76.18%	75.78%	75.85%	76.59%	75.48%	75.89%	76.29%
Interest Burden Percent	99.98%	99.67%	99.23%	99.01%	98.78%	98.72%	99.20%	99.21%	99.06%	99.56%	99.87%
Effective Tax Rate	37.25%	37.49%	36.76%	33.73%	23.82%	24.22%	24.15%	23.41%	24.52%	24.11%	23.71%
Return on Invested Capital (ROIC)	27.42%	26.38%	23.70%	25.38%	30.26%	29.29%	30.24%	30.63%	32.83%	33.75%	33.16%
ROIC Less NNEP Spread (ROIC-NNEP)	27.66%	24.78%	22.19%	23.37%	27.32%	25.22%	26.05%	25.93%	28.54%	30.95%	50.12%
Return on Net Nonoperating Assets (RNNOA)	-0.63%	1.41%	3.05%	3.34%	3.92%	2.55%	1.59%	1.41%	2.20%	1.73%	-0.12%
Return on Equity (ROE)	26.80%	27.79%	26.75%	28.71%	34.18%	31.84%	31.83%	32.03%	35.03%	35.47%	33.04%
Cash Return on Invested Capital (CROIC)	17.60%	18.92%	15.54%	17.36%	20.70%	21.97%	28.25%	20.66%	24.09%	36.67%	28.18%
Operating Return on Assets (OROA)	35.52%	33.89%	30.60%	31.61%	32.07%	29.69%	29.41%	29.46%	32.86%	33.93%	32.97%
Return on Assets (ROA)	22.28%	21.11%	19.20%	20.74%	24.13%	22.21%	22.13%	22.39%	24.57%	25.63%	25.12%
Return on Common Equity (ROCE)	26.80%	27.79%	26.75%	28.71%	34.18%	31.84%	31.83%	32.03%	35.03%	35.47%	33.04%
Return on Equity Simple (ROE_SIMPLE)	25.80%	28.67%	25.83%	27.59%	32.65%	29.67%	31.43%	30.41%	34.36%	34.49%	31.82%
Net Operating Profit after Tax (NOPAT)	494	518	503	584	761	801	866	932	1,097	1,160	1,152
NOPAT Margin	13.24%	13.39%	12.70%	13.31%	15.33%	15.02%	15.33%	15.51%	15.72%	15.79%	15.27%
Net Nonoperating Expense Percent (NNEP)	-0.23%	1.60%	1.50%	2.00%	2.95%	4.07%	4.19%	4.70%	4.29%	2.80%	-16.95%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	29.51%	32.15%	30.19%
Cost of Revenue to Revenue	49.18%	49.63%	50.41%	50.72%	51.68%	52.84%	54.53%	53.80%	53.93%	54.34%	54.92%
SG&A Expenses to Revenue	29.75%	28.99%	29.52%	29.22%	28.20%	27.34%	25.25%	25.95%	25.24%	24.85%	25.07%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	29.73%	28.95%	29.51%	29.19%	28.19%	27.34%	25.25%	25.95%	25.24%	24.85%	25.07%
Earnings before Interest and Taxes (EBIT)	788	829	796	882	999	1,057	1,142	1,217	1,454	1,529	1,510
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	860	915	900	1,009	1,137	1,206	1,304	1,388	1,630	1,706	1,685
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.64	5.17	5.69	6.25	5.59	7.00	9.33	11.26	8.07	10.75	11.33
Price to Tangible Book Value (P/TBV)	5.64	5.17	5.69	6.25	5.59	7.00	9.33	11.26	8.07	10.75	11.33
Price to Revenue (P/Rev)	2.89	2.41	2.78	2.98	2.59	3.50	4.52	5.70	3.66	4.90	5.43
Price to Earnings (P/E)	21.85	18.02	22.04	22.63	17.12	23.58	29.68	37.03	23.49	31.16	35.60
Dividend Yield	2.75%	3.49%	3.15%	2.81%	3.44%	2.68%	3.15%	2.55%	2.78%	2.83%	2.71%
Earnings Yield	4.58%	5.55%	4.54%	4.42%	5.84%	4.24%	3.37%	2.70%	4.26%	3.21%	2.81%
Enterprise Value to Invested Capital (EV/IC)	5.70	4.68	5.10	5.59	5.01	6.64	8.87	10.77	7.41	10.63	11.49
Enterprise Value to Revenue (EV/Rev)	2.89	2.47	2.85	3.05	2.66	3.53	4.54	5.72	3.70	4.90	5.42
Enterprise Value to EBITDA (EV/EBITDA)	12.52	10.42	12.54	13.27	11.61	15.61	19.68	24.79	15.86	21.12	24.27
Enterprise Value to EBIT (EV/EBIT)	13.68	11.51	14.18	15.19	13.21	17.80	22.47	28.26	17.79	23.57	27.09
Enterprise Value to NOPAT (EV/NOPAT)	21.80	18.42	22.42	22.92	17.34	23.49	29.63	36.90	23.56	31.05	35.51
Enterprise Value to Operating Cash Flow (EV/OCF)	21.57	17.34	21.70	22.89	19.58	22.34	23.29	44.68	27.47	25.15	34.86
Enterprise Value to Free Cash Flow (EV/FCFF)	33.96	25.68	34.18	33.50	25.36	31.32	31.71	54.71	32.11	28.58	41.78
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.05	0.20	0.20	0.20	0.22	0.13	0.15	0.13	0.18	0.08	0.06
Long-Term Debt to Equity	0.00	0.17	0.20	0.20	0.22	0.13	0.13	0.11	0.11	0.06	0.03
Financial Leverage	-0.02	0.06	0.14	0.14	0.14	0.10	0.06	0.05	0.08	0.06	0.00
Leverage Ratio	1.20	1.32	1.39	1.38	1.42	1.43	1.44	1.43	1.43	1.38	1.32
Compound Leverage Factor	1.20	1.31	1.38	1.37	1.40	1.42	1.43	1.42	1.41	1.38	1.31
Debt to Total Capital	4.49%	16.85%	16.79%	16.52%	17.84%	11.46%	12.91%	11.36%	14.93%	7.20%	5.24%
Short-Term Debt to Total Capital	4.49%	2.86%	0.45%	0.12%	0.11%	0.10%	1.27%	1.75%	5.43%	1.66%	1.97%
Long-Term Debt to Total Capital	0.00%	13.98%	16.34%	16.40%	17.73%	11.36%	11.63%	9.61%	9.50%	5.54%	3.28%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	95.51%	83.15%	83.21%	83.48%	82.16%	88.54%	87.09%	88.64%	85.07%	92.80%	94.76%
Debt to EBITDA	0.10	0.40	0.43	0.41	0.44	0.29	0.31	0.28	0.34	0.15	0.12
Net Debt to EBITDA	-0.03	0.26	0.31	0.30	0.29	0.14	0.12	0.11	0.20	0.02	-0.03
Long-Term Debt to EBITDA	0.00	0.33	0.42	0.41	0.44	0.28	0.28	0.24	0.22	0.12	0.07
Debt to NOPAT	0.18	0.70	0.78	0.71	0.66	0.43	0.47	0.42	0.51	0.22	0.17
Net Debt to NOPAT	-0.05	0.46	0.55	0.51	0.44	0.21	0.18	0.17	0.30	0.03	-0.05
Long-Term Debt to NOPAT	0.00	0.58	0.75	0.71	0.65	0.43	0.42	0.35	0.32	0.17	0.11
Altman Z-Score	19.01	11.88	13.11	13.83	11.73	13.76	16.32	20.26	15.25	23.85	27.11
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.22	4.46	6.24	5.51	5.30	4.51	4.08	4.19	3.96	4.57	4.67
Quick Ratio	1.54	1.60	2.22	2.06	2.02	1.68	1.66	1.67	1.57	1.98	1.99
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	317	372	330	400	521	601	809	629	805	1,261	979
Operating Cash Flow to CapEx	271.92%	378.73%	284.10%	520.18%	404.20%	351.42%	699.56%	519.64%	579.43%	892.09%	548.01%
Free Cash Flow to Firm to Interest Expense	346.74	119.85	50.79	43.93	41.32	43.23	83.42	64.83	56.30	116.73	134.12
Operating Cash Flow to Interest Expense	545.78	177.52	79.98	64.31	53.51	60.63	113.59	79.39	65.80	132.66	160.73
Operating Cash Flow Less CapEx to Interest Expense	345.07	130.65	51.83	51.95	40.27	43.37	97.35	64.11	54.45	117.79	131.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.68	1.58	1.52	1.57	1.59	1.50	1.45	1.45	1.58	1.63	1.65
Accounts Receivable Turnover	8.52	8.32	8.19	7.93	7.51	7.33	7.47	7.20	7.30	6.99	6.87
Inventory Turnover	2.22	2.15	2.10	2.14	2.16	2.13	2.28	2.26	2.33	2.47	2.62
Fixed Asset Turnover	5.26	4.89	4.61	4.90	5.46	5.48	5.50	5.86	6.88	7.27	7.30
Accounts Payable Turnover	18.82	16.71	17.01	17.38	15.05	14.59	15.41	14.70	15.43	15.38	15.02
Days Sales Outstanding (DSO)	42.84	43.89	44.59	46.04	48.60	49.82	48.84	50.69	50.02	52.19	53.12
Days Inventory Outstanding (DIO)	164.33	169.40	174.19	170.94	168.66	171.28	160.24	161.47	156.65	147.69	139.50
Days Payable Outstanding (DPO)	19.40	21.85	21.45	21.00	24.26	25.02	23.69	24.84	23.66	23.73	24.30
Cash Conversion Cycle (CCC)	187.77	191.44	197.33	195.98	193.00	196.09	185.38	187.33	183.02	176.14	168.32
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,891	2,037	2,210	2,395	2,636	2,836	2,893	3,196	3,488	3,388	3,561
Invested Capital Turnover	2.07	1.97	1.87	1.91	1.97	1.95	1.97	1.97	2.09	2.14	2.17
Increase / (Decrease) in Invested Capital	177	147	173	185	241	200	57	304	292	-101	173
Enterprise Value (EV)	10,774	9,542	11,283	13,393	13,202	18,822	25,661	34,407	25,852	36,026	40,904
Market Capitalization	10,798	9,306	11,006	13,095	12,870	18,652	25,502	34,253	25,528	35,987	40,960
Book Value per Share	$6.46	$6.22	$6.69	$7.30	$8.02	$4.65	$4.76	$5.29	$5.52	$5.86	$6.31
Tangible Book Value per Share	$6.46	$6.22	$6.69	$7.30	$8.02	$4.65	$4.76	$5.29	$5.52	$5.86	$6.31
Total Capital	2,005	2,166	2,323	2,512	2,803	3,011	3,138	3,432	3,718	3,609	3,816
Total Debt	90	365	390	415	500	345	405	390	555	260	200
Total Long-Term Debt	0.00	303	380	412	497	342	365	330	353	200	125
Net Debt	-24	236	277	298	333	170	159	154	325	39	-56
Capital Expenditures (CapEx)	184	145	183	113	167	240	158	148	162	161	214
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,183	1,225	1,343	1,471	1,715	1,741	1,681	1,998	2,307	2,198	2,344
Debt-free Net Working Capital (DFNWC)	1,298	1,354	1,456	1,588	1,882	1,916	1,927	2,234	2,537	2,420	2,600
Net Working Capital (NWC)	1,208	1,292	1,445	1,585	1,879	1,913	1,887	2,174	2,335	2,360	2,525
Net Nonoperating Expense (NNE)	0.10	1.69	3.86	5.77	9.29	10	6.90	7.35	10	5.08	1.45
Net Nonoperating Obligations (NNO)	-24	236	277	298	333	170	159	154	325	39	-56
Total Depreciation and Amortization (D&A)	73	87	104	127	138	149	162	171	177	177	175
Debt-free, Cash-free Net Working Capital to Revenue	31.70%	31.65%	33.89%	33.50%	34.53%	32.63%	29.77%	33.24%	33.04%	29.92%	31.06%
Debt-free Net Working Capital to Revenue	34.76%	34.99%	36.74%	36.16%	37.90%	35.91%	34.12%	37.17%	36.34%	32.93%	34.45%
Net Working Capital to Revenue	32.35%	33.38%	36.47%	36.09%	37.84%	35.86%	33.41%	36.17%	33.45%	32.12%	33.46%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$1.38	$1.50	$1.61	$1.89	$2.02	$2.01
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	573.20M	573.78M	574.81M	573.78M	571.27M	572.71M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$1.38	$1.49	$1.60	$1.89	$2.02	$2.00
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	574.40M	575.67M	577.12M	575.62M	573.01M	574.28M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	574.23M	574.32M	575.55M	570.83M	572.23M	573.42M
Normalized Net Operating Profit after Tax (NOPAT)	494	517	503	584	761	801	866	932	1,097	1,160	1,152
Normalized NOPAT Margin	13.22%	13.37%	12.69%	13.29%	15.32%	15.02%	15.33%	15.51%	15.72%	15.79%	15.27%
Pre Tax Income Margin	21.09%	21.35%	19.93%	19.89%	19.88%	19.57%	20.06%	20.09%	20.63%	20.72%	19.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	860.75	267.35	122.43	96.90	79.30	76.06	117.71	125.51	101.65	141.55	206.85
NOPAT to Interest Expense	540.16	167.13	77.42	64.22	60.41	57.64	89.28	96.12	76.72	107.42	157.82
EBIT Less CapEx to Interest Expense	660.04	220.48	94.28	84.54	66.06	58.81	101.47	110.23	90.29	126.68	177.52
NOPAT Less CapEx to Interest Expense	339.45	120.25	49.27	51.85	47.17	40.38	73.04	80.84	65.37	92.54	128.49
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	60.02%	63.34%	69.40%	63.79%	58.77%	63.04%	93.52%	69.59%	65.44%	88.03%	77.64%
Augmented Payout Ratio	70.73%	120.06%	81.32%	78.07%	72.47%	63.04%	99.57%	69.59%	87.32%	88.03%	77.64%

This table displays calculated financial ratios and metrics derived from Fastenal's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.67%	9.10%	5.88%	2.41%	3.72%	1.94%	1.76%	3.48%	3.75%	3.39%	8.56%
EBITDA Growth	9.64%	8.91%	2.93%	1.91%	5.14%	-1.05%	-2.09%	0.26%	-1.99%	1.27%	11.75%
EBIT Growth	10.67%	9.83%	3.00%	1.98%	6.28%	-0.76%	-2.03%	0.36%	-2.57%	0.95%	12.72%
NOPAT Growth	6.93%	9.73%	3.67%	3.11%	6.82%	0.09%	-2.22%	0.67%	-1.36%	0.44%	12.57%
Net Income Growth	6.23%	9.46%	3.80%	3.83%	8.47%	0.88%	-1.78%	0.88%	-1.61%	0.34%	12.85%
EPS Growth	7.69%	10.64%	4.00%	4.00%	9.52%	0.00%	-1.92%	0.00%	-2.17%	0.00%	16.00%
Operating Cash Flow Growth	93.03%	68.91%	99.80%	50.48%	17.26%	-13.62%	-14.60%	-23.50%	-20.11%	-21.87%	7.98%
Free Cash Flow Firm Growth	39.05%	197.28%	235.96%	398.53%	953.11%	140.93%	22.88%	-48.20%	-75.60%	-90.23%	-98.22%
Invested Capital Growth	9.14%	4.83%	1.50%	-1.60%	-2.88%	-1.13%	-0.35%	3.39%	5.11%	7.85%	9.34%
Revenue Q/Q Growth	-5.93%	9.65%	1.29%	-1.98%	-4.73%	7.76%	1.11%	-0.31%	-4.49%	7.39%	6.17%
EBITDA Q/Q Growth	-10.77%	15.89%	0.48%	-1.91%	-7.95%	9.07%	-0.58%	0.44%	-10.01%	12.69%	9.71%
EBIT Q/Q Growth	-12.18%	18.08%	0.43%	-2.08%	-8.48%	10.26%	-0.85%	0.31%	-11.16%	14.24%	10.71%
NOPAT Q/Q Growth	-13.37%	19.52%	0.67%	-1.08%	-10.25%	11.99%	-1.65%	1.84%	-12.06%	14.03%	10.23%
Net Income Q/Q Growth	-13.70%	20.15%	0.98%	-0.84%	-9.85%	11.75%	-1.68%	1.84%	-12.08%	13.96%	10.58%
EPS Q/Q Growth	-16.00%	23.81%	0.00%	0.00%	-11.54%	13.04%	-1.92%	1.96%	-13.46%	15.56%	-44.23%
Operating Cash Flow Q/Q Growth	17.06%	28.69%	-22.24%	28.47%	-8.79%	-5.20%	-23.12%	15.08%	-4.75%	-7.28%	6.25%
Free Cash Flow Firm Q/Q Growth	63.56%	425.12%	77.71%	41.78%	4.15%	-8.18%	-9.36%	-40.24%	-50.94%	-63.22%	-83.52%
Invested Capital Q/Q Growth	0.10%	-1.64%	1.64%	-1.67%	-1.21%	0.14%	2.45%	2.02%	0.43%	2.75%	3.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.32%	45.72%	45.54%	45.92%	45.46%	45.46%	45.06%	44.95%	44.85%	45.11%	45.32%
EBITDA Margin	22.28%	23.54%	23.36%	23.37%	22.58%	22.85%	22.47%	22.64%	21.33%	22.38%	23.13%
Operating Margin	19.64%	21.15%	20.97%	20.95%	20.12%	20.59%	20.19%	20.32%	18.90%	20.10%	20.96%
EBIT Margin	19.64%	21.15%	20.97%	20.95%	20.12%	20.59%	20.19%	20.32%	18.90%	20.10%	20.96%
Profit (Net Income) Margin	14.49%	15.87%	15.83%	16.01%	15.15%	15.71%	15.28%	15.61%	14.37%	15.24%	15.88%
Tax Burden Percent	74.81%	75.72%	75.90%	76.67%	75.19%	76.37%	75.75%	76.91%	76.13%	75.99%	75.65%
Interest Burden Percent	98.59%	99.11%	99.42%	99.66%	100.11%	99.90%	99.87%	99.87%	99.86%	99.80%	100.11%
Effective Tax Rate	25.19%	24.28%	24.10%	23.33%	24.81%	23.63%	24.25%	23.09%	23.87%	24.01%	24.35%
Return on Invested Capital (ROIC)	30.69%	34.10%	33.29%	33.84%	32.34%	34.03%	32.58%	33.52%	31.25%	32.98%	33.90%
ROIC Less NNEP Spread (ROIC-NNEP)	29.22%	32.27%	32.33%	33.15%	32.50%	33.53%	31.70%	34.38%	35.70%	34.74%	31.22%
Return on Net Nonoperating Assets (RNNOA)	2.25%	1.46%	1.79%	1.43%	1.81%	0.62%	0.40%	-0.44%	-0.09%	-0.34%	-0.12%
Return on Equity (ROE)	32.94%	35.56%	35.09%	35.27%	34.15%	34.65%	32.98%	33.08%	31.16%	32.64%	33.78%
Cash Return on Invested Capital (CROIC)	24.09%	28.81%	31.28%	34.68%	36.67%	35.15%	33.49%	29.81%	28.18%	25.16%	23.80%
Operating Return on Assets (OROA)	30.99%	33.38%	33.12%	33.08%	32.81%	33.37%	32.62%	32.56%	31.13%	32.54%	33.88%
Return on Assets (ROA)	22.86%	25.05%	24.99%	25.28%	24.70%	25.46%	24.68%	25.01%	23.67%	24.67%	25.66%
Return on Common Equity (ROCE)	32.94%	35.56%	35.09%	35.27%	34.15%	34.65%	32.98%	33.08%	31.16%	32.64%	33.78%
Return on Equity Simple (ROE_SIMPLE)	0.00%	34.01%	33.23%	32.72%	0.00%	33.76%	32.96%	32.10%	0.00%	31.21%	31.23%
Net Operating Profit after Tax (NOPAT)	249	298	300	296	266	298	293	298	262	299	330
NOPAT Margin	14.69%	16.02%	15.92%	16.06%	15.13%	15.73%	15.29%	15.63%	14.39%	15.28%	15.86%
Net Nonoperating Expense Percent (NNEP)	1.47%	1.82%	0.96%	0.70%	-0.17%	0.50%	0.88%	-0.86%	-4.45%	-1.76%	2.67%
Return On Investment Capital (ROIC_SIMPLE)	6.70%	-	-	-	7.37%	-	-	-	6.88%	7.69%	8.17%
Cost of Revenue to Revenue	54.68%	54.28%	54.46%	54.08%	54.54%	54.54%	54.94%	55.05%	55.15%	54.89%	54.68%
SG&A Expenses to Revenue	25.68%	24.57%	24.57%	24.97%	25.33%	24.87%	24.87%	24.63%	25.95%	25.01%	24.36%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.68%	24.57%	24.57%	24.97%	25.33%	24.87%	24.87%	24.63%	25.95%	25.01%	24.36%
Earnings before Interest and Taxes (EBIT)	333	393	395	387	354	390	387	388	345	394	436
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	378	438	440	431	397	433	431	433	389	439	481
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.07	9.03	9.62	8.74	10.75	12.71	10.23	11.37	11.33	12.05	12.66
Price to Tangible Book Value (P/TBV)	8.07	9.03	9.62	8.74	10.75	12.71	10.23	11.37	11.33	12.05	12.66
Price to Revenue (P/Rev)	3.66	4.14	4.49	4.16	4.90	5.90	4.82	5.47	5.43	5.84	6.20
Price to Earnings (P/E)	23.49	26.54	28.94	26.72	31.16	37.64	31.05	35.41	35.60	38.61	40.52
Dividend Yield	2.78%	2.47%	2.32%	2.56%	2.83%	2.39%	2.98%	2.66%	2.71%	2.06%	0.00%
Earnings Yield	4.26%	3.77%	3.46%	3.74%	3.21%	2.66%	3.22%	2.82%	2.81%	2.59%	2.47%
Enterprise Value to Invested Capital (EV/IC)	7.41	8.65	9.35	8.83	10.63	12.84	10.29	11.52	11.49	12.15	12.68
Enterprise Value to Revenue (EV/Rev)	3.70	4.16	4.51	4.16	4.90	5.90	4.82	5.46	5.42	5.84	6.20
Enterprise Value to EBITDA (EV/EBITDA)	15.86	17.82	19.43	17.95	21.12	25.59	21.13	24.12	24.27	26.28	27.66
Enterprise Value to EBIT (EV/EBIT)	17.79	19.94	21.74	20.08	23.57	28.54	23.56	26.89	27.09	29.36	30.83
Enterprise Value to NOPAT (EV/NOPAT)	23.56	26.42	28.76	26.48	31.05	37.52	30.99	35.34	35.51	38.53	40.48
Enterprise Value to Operating Cash Flow (EV/OCF)	27.47	27.00	26.09	21.93	25.15	31.56	26.77	32.82	34.86	40.40	43.00
Enterprise Value to Free Cash Flow (EV/FCFF)	32.11	30.74	30.12	25.25	28.58	36.31	30.67	39.29	41.78	50.10	55.65
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.18	0.12	0.10	0.08	0.08	0.06	0.07	0.07	0.06	0.05	0.06
Long-Term Debt to Equity	0.11	0.06	0.06	0.06	0.06	0.06	0.04	0.03	0.03	0.03	0.03
Financial Leverage	0.08	0.05	0.06	0.04	0.06	0.02	0.01	-0.01	0.00	-0.01	0.00
Leverage Ratio	1.43	1.41	1.40	1.39	1.38	1.36	1.34	1.32	1.32	1.32	1.32
Compound Leverage Factor	1.41	1.40	1.39	1.39	1.39	1.36	1.33	1.32	1.31	1.32	1.32
Debt to Total Capital	14.93%	10.90%	9.38%	6.98%	7.20%	5.51%	6.30%	6.25%	5.24%	5.14%	5.70%
Short-Term Debt to Total Capital	5.43%	5.45%	4.02%	1.61%	1.66%	0.00%	2.95%	3.00%	1.97%	1.93%	3.22%
Long-Term Debt to Total Capital	9.50%	5.45%	5.36%	5.37%	5.54%	5.51%	3.35%	3.26%	3.28%	3.21%	2.48%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	85.07%	89.10%	90.62%	93.02%	92.80%	94.49%	93.70%	93.75%	94.76%	94.86%	94.30%
Debt to EBITDA	0.34	0.24	0.21	0.15	0.15	0.12	0.14	0.14	0.12	0.12	0.13
Net Debt to EBITDA	0.20	0.10	0.06	-0.02	0.02	-0.02	-0.01	-0.03	-0.03	-0.02	0.00
Long-Term Debt to EBITDA	0.22	0.12	0.12	0.12	0.12	0.12	0.07	0.07	0.07	0.07	0.06
Debt to NOPAT	0.51	0.36	0.31	0.23	0.22	0.17	0.20	0.21	0.17	0.17	0.19
Net Debt to NOPAT	0.30	0.14	0.09	-0.03	0.03	-0.03	-0.02	-0.05	-0.05	-0.03	-0.01
Long-Term Debt to NOPAT	0.32	0.18	0.18	0.18	0.17	0.17	0.11	0.11	0.11	0.11	0.08
Altman Z-Score	14.44	17.02	19.85	19.67	22.98	27.31	22.96	25.05	26.29	26.12	27.43
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.96	3.66	4.26	4.71	4.57	4.83	4.39	4.40	4.67	4.28	4.22
Quick Ratio	1.57	1.61	1.92	2.20	1.98	2.27	2.04	2.01	1.99	1.92	1.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-43	140	248	352	367	337	305	182	89	33	5.42
Operating Cash Flow to CapEx	727.47%	1,257.28%	560.48%	904.66%	1,075.99%	694.82%	490.49%	532.08%	492.68%	487.36%	433.28%
Free Cash Flow to Firm to Interest Expense	-8.60	35.83	85.64	167.67	193.00	168.35	169.54	101.32	52.64	19.36	2.46
Operating Cash Flow to Interest Expense	60.38	99.62	104.17	184.81	186.32	167.80	143.33	164.94	166.35	154.24	126.64
Operating Cash Flow Less CapEx to Interest Expense	52.08	91.69	85.59	164.38	169.00	143.65	114.11	133.94	132.59	122.59	97.41
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.58	1.58	1.58	1.58	1.63	1.62	1.62	1.60	1.65	1.62	1.62
Accounts Receivable Turnover	7.30	6.42	6.36	6.38	6.99	6.25	6.24	6.31	6.87	6.11	6.15
Inventory Turnover	2.33	2.38	2.44	2.48	2.47	2.55	2.63	2.67	2.62	2.64	2.64
Fixed Asset Turnover	6.88	7.09	7.17	7.21	7.27	7.32	7.28	7.28	7.30	7.29	7.31
Accounts Payable Turnover	15.43	13.88	14.22	14.34	15.38	14.80	14.58	14.21	15.02	13.57	13.96
Days Sales Outstanding (DSO)	50.02	56.81	57.36	57.17	52.19	58.41	58.48	57.86	53.12	59.76	59.37
Days Inventory Outstanding (DIO)	156.65	153.66	149.73	147.10	147.69	143.04	138.56	136.90	139.50	138.21	138.06
Days Payable Outstanding (DPO)	23.66	26.30	25.67	25.45	23.73	24.66	25.03	25.69	24.30	26.90	26.15
Cash Conversion Cycle (CCC)	183.02	184.18	181.42	178.81	176.14	176.79	172.01	169.07	168.32	171.06	171.28
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,488	3,431	3,487	3,429	3,388	3,392	3,475	3,545	3,561	3,659	3,800
Invested Capital Turnover	2.09	2.13	2.09	2.11	2.14	2.16	2.13	2.15	2.17	2.16	2.14
Increase / (Decrease) in Invested Capital	292	158	51	-56	-101	-39	-12	116	173	266	325
Enterprise Value (EV)	25,852	29,684	32,619	30,274	36,026	43,540	35,755	40,846	40,904	44,437	48,176
Market Capitalization	25,528	29,524	32,512	30,311	35,987	43,577	35,776	40,898	40,960	44,469	48,184
Book Value per Share	$5.52	$5.73	$5.92	$6.07	$5.86	$5.99	$6.11	$6.28	$6.31	$6.44	$6.64
Tangible Book Value per Share	$5.52	$5.73	$5.92	$6.07	$5.86	$5.99	$6.11	$6.28	$6.31	$6.44	$6.64
Total Capital	3,718	3,671	3,731	3,727	3,609	3,629	3,731	3,837	3,816	3,890	4,037
Total Debt	555	400	350	260	260	200	235	240	200	200	230
Total Long-Term Debt	353	200	200	200	200	200	125	125	125	125	100
Net Debt	325	160	106	-38	39	-37	-21	-52	-56	-32	-7.80
Capital Expenditures (CapEx)	42	31	54	43	33	48	53	56	57	54	64
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,307	2,259	2,307	2,242	2,198	2,209	2,284	2,342	2,344	2,416	2,534
Debt-free Net Working Capital (DFNWC)	2,537	2,498	2,550	2,540	2,420	2,446	2,540	2,634	2,600	2,648	2,771
Net Working Capital (NWC)	2,335	2,298	2,400	2,480	2,360	2,446	2,430	2,519	2,525	2,573	2,641
Net Nonoperating Expense (NNE)	3.52	2.65	1.75	1.00	-0.30	0.31	0.38	0.38	0.38	0.61	-0.38
Net Nonoperating Obligations (NNO)	325	160	106	-38	39	-37	-21	-52	-56	-32	-7.80
Total Depreciation and Amortization (D&A)	45	45	45	45	43	43	44	44	44	45	45
Debt-free, Cash-free Net Working Capital to Revenue	33.04%	31.65%	31.86%	30.78%	29.92%	29.91%	30.80%	31.31%	31.06%	31.75%	32.59%
Debt-free Net Working Capital to Revenue	36.34%	35.01%	35.23%	34.87%	32.93%	33.13%	34.25%	35.21%	34.45%	34.79%	35.65%
Net Working Capital to Revenue	33.45%	32.21%	33.15%	34.05%	32.12%	33.13%	32.76%	33.67%	33.46%	33.81%	33.98%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.42	$0.52	$0.52	$0.52	$0.46	$0.52	$0.51	$0.52	$0.46	$0.52	$0.29
Adjusted Weighted Average Basic Shares Outstanding	573.78M	570.93M	571.14M	571.37M	571.27M	572.34M	572.58M	572.74M	572.71M	573.47M	1.15B
Adjusted Diluted Earnings per Share	$0.42	$0.52	$0.52	$0.52	$0.46	$0.52	$0.51	$0.52	$0.45	$0.52	$0.29
Adjusted Weighted Average Diluted Shares Outstanding	575.62M	572.63M	572.89M	573.10M	573.01M	574.09M	574.11M	574.18M	574.28M	574.76M	1.15B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	570.83M	571.04M	571.33M	571.41M	572.23M	572.55M	572.65M	572.89M	573.42M	573.62M	1.15B
Normalized Net Operating Profit after Tax (NOPAT)	249	298	300	296	266	298	293	298	262	299	330
Normalized NOPAT Margin	14.69%	16.02%	15.92%	16.06%	15.13%	15.73%	15.29%	15.63%	14.39%	15.28%	15.86%
Pre Tax Income Margin	19.36%	20.96%	20.85%	20.88%	20.15%	20.57%	20.16%	20.29%	18.87%	20.06%	20.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	66.60	100.82	136.17	184.14	186.26	195.10	214.94	215.61	202.82	231.71	198.23
NOPAT to Interest Expense	49.82	76.35	103.36	141.19	140.05	149.00	162.82	165.82	154.40	176.06	149.96
EBIT Less CapEx to Interest Expense	58.30	92.90	117.59	163.71	168.95	170.95	185.72	184.61	169.06	200.06	169.00
NOPAT Less CapEx to Interest Expense	41.52	68.42	84.77	120.76	122.74	124.85	133.60	134.82	120.64	144.42	120.74
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	65.44%	65.87%	67.13%	68.45%	88.03%	89.86%	92.30%	94.14%	77.64%	79.61%	79.54%
Augmented Payout Ratio	87.32%	65.87%	67.13%	68.45%	88.03%	89.86%	92.30%	94.14%	77.64%	79.61%	79.54%

Key Financial Trends

Fastenal (NASDAQ: FAST) has demonstrated consistent financial performance and growth over the past four years, with data analyzed through Q2 2025. Here are the key takeaways from the company's income statements, cash flow statements, and balance sheets:

Revenue Growth: Operating revenue increased from approximately $1.69 billion in Q4 2022 to over $2.08 billion in Q2 2025, showing steady top-line growth.
Strong Net Income Trends: Net income rose from $245.6 million in Q4 2022 to $330.3 million in Q2 2025, reflecting improved profitability and operational efficiency.
Robust Gross Profit Margins: Gross profit increased from $768 million in Q4 2022 to $943 million in Q2 2025, maintaining a strong margin relative to revenue growth.
Consistent Operational Efficiency: Selling, General & Admin (SG&A) expenses have grown modestly in line with revenue, supporting higher operating income levels.
Strong Cash Flows from Operations: Operating cash flow has notably increased from $258 million in Q2 2024 to $279 million in Q2 2025, underscoring solid cash generation capabilities.
Investment in Capital Assets: The company is investing steadily in property, plant, and equipment (around $55 million to $69 million quarterly), supporting long-term growth.
Shareholder Returns: Fastenal continues to pay consistent quarterly dividends with a payout increasing from $0.31 per share in Q4 2022 to $0.29 per share in Q2 2025, alongside share repurchases in prior periods.
Debt Management: The company actively manages debt levels, with both issuance and repayments occurring frequently. Total liabilities increased but remain well-covered by equity.
Working Capital Fluctuations: Changes in operating assets and liabilities have periodically reduced cash flow (e.g., impacts of -$79M to -$97M), indicating working capital management challenges.
Rising Income Tax Expense: Income tax expense increased from $82.7 million in Q4 2022 to over $106 million by Q2 2025, potentially impacting net income growth if tax rates rise.

Additional Observations:

The balance sheet shows growing total assets, reaching about $5.0 billion by Q2 2025, with an equity base of approximately $3.8 billion, reflecting solid capitalization.
Inventory levels have increased steadily, consistent with revenue growth but requiring efficient management to avoid excess stock risk.
Cash and equivalents have fluctuated quarter-to-quarter but remain around $230-$250 million recently, providing liquidity cushion.
Interest expense remains low relative to earnings, reflecting manageable financing costs.

In summary, Fastenal exhibits strong and stable growth in revenue, profitability, and cash flow, underpinned by disciplined capital investment and operational control. The company's robust balance sheet and shareholder return policies make it an attractive consideration for investors seeking exposure to industrial supply sector growth. However, investors should monitor working capital efficiency and tax expense trends going forward.

08/09/25 11:14 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Fastenal's Financials

When does Fastenal's financial year end?

According to the most recent income statement we have on file, Fastenal's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Fastenal's net income changed over the last 10 years?

Fastenal's net income appears to be on an upward trend, with a most recent value of $1.15 billion in 2024, rising from $494.15 million in 2014. The previous period was $1.16 billion in 2023. See where experts think Fastenal is headed by visiting Fastenal's forecast page.

What is Fastenal's operating income?

Fastenal's total operating income in 2024 was $1.51 billion, based on the following breakdown:

Total Gross Profit: $3.40 billion
Total Operating Expenses: $1.89 billion

How has Fastenal's revenue changed over the last 10 years?

Over the last 10 years, Fastenal's total revenue changed from $3.73 billion in 2014 to $7.55 billion in 2024, a change of 102.1%.

How much debt does Fastenal have?

Fastenal's total liabilities were at $1.08 billion at the end of 2024, a 2.9% decrease from 2023, and a 143.7% increase since 2014.

How much cash does Fastenal have?

In the past 10 years, Fastenal's cash and equivalents has ranged from $112.70 million in 2016 to $255.80 million in 2024, and is currently $255.80 million as of their latest financial filing in 2024.

How has Fastenal's book value per share changed over the last 10 years?

Over the last 10 years, Fastenal's book value per share changed from 6.46 in 2014 to 6.31 in 2024, a change of -2.3%.

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This page (NASDAQ:FAST) was last updated on 8/9/2025 by MarketBeat.com Staff

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Fastenal (FAST) Financials

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