Core & Main vs Fastenal
Core & Main and Fastenal are similar in size: $7.65bn and $8.20bn of revenue in their latest fiscal years. Fastenal grew faster (8.7% against 2.8%). Fastenal kept more of each dollar of sales as profit: a net margin of 15.3% against 5.8%. Fastenal carries less debt relative to equity (3.2% against 107.6%).
| Latest fiscal year | Core & MainCNM, 2026 | FastenalFAST, 2025 |
|---|---|---|
| Revenue | $7.65bn | $8.20bn |
| Revenue growth | 2.8% | 8.7% |
| Net income | $441m | $1.26bn |
| Operating margin | 9.4% | 20.2% |
| Net margin | 5.8% | 15.3% |
| Return on equity | 23.9% | 33.3% |
| Free cash flow | $604m | $1.05bn |
| Cash | $220m | $277m |
| Total debt | $2.15bn | $125m |
| Debt to equity | 107.6% | 3.2% |
| Dividend per share | — | $0.88 |
| Dividend yield | — | 1.8% |
| Share buybacks | $155m | — |
| Employees | 5,600 | 24,489 |
| Market value | $8.70bn | $59.99bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | 57 (Moderate) | 80 (Strong) |
| Insider trades, 12 months | 2 buys, 2 sales | 5 buys, 8 sales |