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Earnings transcript
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FAST
Fastenal Company
$51.02
0.64
(1.27%)
| Exchange: | NASDAQ |
| Market Cap: | 58.545B |
| Shares Outstanding: | 453.333M |
Delayed data
About The Company
| Sector: | IndustrialsView sector performance | |||||
| Industry: | Industrial – DistributionView industry performance | |||||
| CEO: | Jeffery Michael Watts | |||||
| Full Time Employees: | 22230 | |||||
| Address: |
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| Website: | https://www.fastenal.com |
Fastenal Company, along with its associated entities, operates as a global wholesale supplier of industrial and construction materials, with significant operations throughout North America, including the United States, Canada, and Mexico, and other international markets. Branded as Fastenal, the company offers a comprehensive range of fasteners, such as threaded bolts, nuts, screws, studs, and washers, which are vital for manufacturing processes, building developments, and equipment servicing. Beyond fasteners, its product catalog extends to diverse hardware and miscellaneous items like pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, and rivets, along with their related accessories. Fastenal serves a wide array of clients, including original equipment manufacturers, maintenance, repair, and operations departments within the manufacturing sector, and various non-residential construction contractors spanning general, electrical, plumbing, sheet metal, and road construction. Its customer base further encompasses agricultural businesses, transportation services (trucking, railroads), mining operations, educational institutions, retail establishments, the oil and gas exploration, production, and refinement industries, and governmental bodies at federal, state, and local levels. The company distributes its offerings through an extensive network of 3,209 in-market facilities and 15 major distribution centers. Established in 1967, Fastenal Company’s corporate headquarters are located in Winona, Minnesota.
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Revenue Segmentation
FAST full analysis
Hey everyone, welcome back to MarketSnap. Fastenal has one of the most beloved stories in industrial investing — a century-old fastener business that turned into a tech-enabled supply chain machine, with a stock that's up more than eighty percent over the past five years and just posted fifteen and a half percent sales growth. That's exactly what makes it dangerous. We're skipping the pitch deck and running the numbers — the financials, the cash flow, the competitive position, and a…
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 7,346,700 | 7,546,000 | 8,200,500 |
| Gross Profit | 3,354,500 | 3,401,900 | 3,691,200 |
| EBITDA | 1,706,000 | 1,690,800 | 1,840,400 |
| Operating Income | 1,528,700 | 1,510,000 | 1,655,700 |
| Net Income | 1,155,000 | 1,150,600 | 1,258,400 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 4,462,900 | 4,698,000 | 5,052,900 |
| Total Liabilities | 1,114,100 | 1,081,700 | 1,109,300 |
| Total Stockholders Equity | 3,348,800 | 3,616,300 | 3,943,600 |
| Total Debt | 535,000 | 485,400 | 441,900 |
| Cash and Cash Equivalents | 221,300 | 255,800 | 276,800 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,432,700 | 1,173,300 | 1,295,900 |
| Capital Expenditure | -172,800 | -226,500 | -245,300 |
| Free Cash Flow | 1,259,900 | 946,800 | 1,050,600 |
| Net Income | 1,155,000 | 1,150,600 | 1,258,400 |
| Net Change in Cash | -8,800 | 34,500 | 21,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 12,053,748.322 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 12,948,455.766 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 12,699,000 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 2,815,665.460 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 3,065,019.433 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 2,995,493.126 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 1,933,769.331 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 2,123,419.292 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 2,070,540.001 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 3,036,073.201 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 3,261,430.261 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 3,198,597.859 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 1.800 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 1.850 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 1.680 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 6 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 4 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: Fastenal Company reported strong financial results in its Q4 and Annual 2025 Earnings Call, with key metrics such as revenue, operating income, and net income showing consistent growth. This performance aligns with historical data from income statements, reflecting sustained profitability and operational efficiency.
- High Free Cash Flow Yield: The free cash flow yield (TTM) remains strong as per key metrics, indicating the company’s ability to generate significant cash after capital expenditures. This provides financial flexibility for dividends, debt management, and reinvestment in growth initiatives.
- Operational Discipline: The Q4 2025 earnings call highlighted disciplined cost management as a core strength, enabling the company to maintain healthy gross profit margins (TTM) and net profit margins (TTM) despite market challenges.
- Strong Balance Sheet: Balance sheet data shows a solid position with substantial cash and cash equivalents, a manageable debt-to-equity ratio (TTM), and positive retained earnings, underscoring financial stability and resilience.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates FAST intrinsic value between $24.60 – $25.89 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about FAST valuation
Is Fastenal Company (FAST) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Fastenal Company (FAST) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is FAST a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether FAST trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is FAST’s P/E ratio?
You can see FAST’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for FAST?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is FAST a good long-term investment?
Whether FAST fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
FAST
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Daily snapshot
1.27
Trading Metrics:
| Open: | 50.77 | Previous Close: | 50.38 | |
| Day Low: | 50.38 | Day High: | 51.19 | |
| Year Low: | 38.97 | Year High: | 52.92 | |
| Price Avg 50: | 50.39 | Price Avg 200: | 46.63 | |
| Volume: | 10.471M | Average Volume: | 7.771M |
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