undamentalytics Newsletter
Sign in

Fastenal (FAST) stock

Add to watchlist

Add holding +

NASDAQ: FAST Nasdaq Trading Companies & Distributors Next results ~January 14, 2027

B+ Fundamentals grade

Fastenal is a US-listed company in the trading companies & distributors industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$27

Cash-flow model

Base case. Range ~$21–$36 across our lower- and higher-growth cases (5.6%–15.6% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 48% below it.

Price used: $52.55, November 2, 2026

Fastenal valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 5 selling5 purchases and 8 sales by directors and officers, last 12 monthsInsider trades
  • Funds681 adding, 602 cuttingOf 71 active managers that changed their stake, 34 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Fastenal files

Where Fastenal stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $9.08bn, up 13.5% on a year earlier, faster than 12.5% a quarter earlier. Free-cash-flow margin held at 13.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 6 of our 6 financial-health checks. Our cash-flow model value is $27.57 a share, against a share price of $51.61. At that price, our model says the market is pricing in about 22.1% a year of cash-flow growth for five years, faster than the 8.6% a year revenue growth it has delivered.

Source: 10-Q filed October 19, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 14, 2027 (estimated)

Fastenal's trailing-twelve-month revenue grew 13.5% year on year, with a free-cash-flow margin of 13.0%. Where it stands out: long-term debt as % of assets of 0.9% ranks 1 of 29 trading companies & distributors companies we cover.

Our discounted-cash-flow model values the business at ~$27 per share in the base case (~$21–$36 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 13.5% (+1.0pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $52.55 is 48% above our value per share of $27.
  • High earnings multiple. The shares trade at 43 times the last 12 months' earnings, so expectations are demanding.

Latest results: FY2026 Q3

Filed October 19, 2026
Earnings per share
$0.35 against an average estimate of $0.34: beat by 3.9%
Revenue
$2.46bn, up 15.5% on a year earlier
Share reaction
-2.0% in the first session after the results on October 14, 2026, against -0.8% for the S&P 500
Guidance given
ongoing tax rate 24.6% (ongoing); weighted FASTBin and FASTVend device signings (MEUs) 27000 to 29000 (2026)
Next report
October 14, 2026; average EPS estimate $0.30

Fastenal's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.2%
  • 1 week+0.7%
  • 1 month+4.1%
  • This year+33.8%
  • 1 year+30.5%
  • 5 years+107.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$9.1B
Operating margin
20.5%
Net margin
15.6%
EPS (TTM, diluted)
$1.23

Growth

Revenue growth
+13.5%
Change in growth rate
+1.0 pts

Cash

Free cash flow (TTM)
$1.2B
FCF margin
13.0%
Stock pay % of revenue
0.1%

Earnings

Last results
October 14, 2026
Next results (est.)
January 14, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Announcement
  3. Announcement
  4. Guidance
  5. Dividend
  6. Announcement
  7. Announcement
  8. Insider trade
  9. Announcement
  10. Announcement
  11. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Fastenal valuation models and calculator

What the price is pricing in

The share price implies about 22.2% a year of cash-flow growth for five years.That is faster than the 8.6% a year revenue growth Fastenal has delivered.

  • Priced in22.2%
  • Last 12 months13.5%
  • 3 years a year7.6%
  • 5 years a year8.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($52.11, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$27
Price used
$52.11close November 3, 2026
Implied change
▼ 47%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Fastenal's free cash flow after stock-based pay with after-tax interest added back ($1.2B, FY2026 Q3 TTM), growing 10.2% and 10.2% in the next two years (forecasts, guidance and its record), then back to 10.6% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$21–~$36 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Fastenal's free cash flow after stock-based pay ( $1.2B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Fastenal as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.9 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$27 ~$21–$36 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$25 ~$23–$30 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$12 ~$10–$16 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$19 ~$16–$22 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$22 ~$12–$27 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Fastenal with Trading Companies & Distributors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +31%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Last year's free-cash-flow margin change, if it persists ▲ +7%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $15$20$27$36$48$64
8.5% $11$15$20$27$35$46
10% $9$12$16$21$28$36

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$7.66$9.08$10.86$10.69$15.51$21.18$28.39$21.48$30.36$34.46$39.28$52.55
Market value$8.9bn$10.5bn$12.5bn$12.3bn$17.8bn$24.4bn$32.8bn$24.7bn$34.8bn$39.6bn$45.2bn$60.5bn
+ Net debt (− = net cash)$236m$277m$298m$333m$170m$159m$154m$325m$39m−$56m−$152m−$112m
Enterprise value$9.2bn$10.8bn$12.8bn$12.6bn$18.0bn$24.5bn$32.9bn$25.1bn$34.8bn$39.5bn$45.0bn$60.3bn
Multiples
Price / sales 2.3x2.6x2.9x2.5x3.3x4.3x5.5x3.5x4.7x5.2x5.5x6.7x
Price / earnings 17.3x21.0x21.7x16.3x22.5x28.4x35.4x22.8x30.1x34.4x35.9x42.6x
Price / free cash flow 22.6x31.8x26.9x24.7x29.9x26.1x53.4x32.2x27.6x41.8x43.0x51.4x
EV / EBITDA 10.0x12.0x12.8x11.1x15.0x19.0x23.9x15.4x20.4x23.5x24.5x29.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

80 /100

Strong moat

How hard Fastenal's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 26.2% of total assets over 10 years.

  • Pricing power 16 / 20

    Gross margin has been a median 45.9%, moving by 1.5 percentage points (standard deviation) across 10 years.

  • Durability 16 / 20

    Operating margin has been a median 20.2%; its worst year was 19.9%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 12.5% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 0.4% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (85 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.27 +17% $9.3bn +14%
Next $1.40 +11% $10.2bn +10%

Next year's EPS estimate has moved +1.0% in 90 days, across 14 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.0% on 90 days ago. In the last 30 days, 3 analysts raised Fastenal's forecast and 1 cut it.

Consensus EPS forecast Fastenal, last 90 days
$1.25 $1.30 $1.35 $1.40 $1.45 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.26 Current fiscal year, 60 days ago: $1.26 Current fiscal year, 30 days ago: $1.26 Current fiscal year, 7 days ago: $1.27 Current fiscal year, Now: $1.27 $1.27 Next fiscal year, 90 days ago: $1.39 Next fiscal year, 60 days ago: $1.39 Next fiscal year, 30 days ago: $1.40 Next fiscal year, 7 days ago: $1.40 Next fiscal year, Now: $1.40 $1.40

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.26$1.39
60 days ago $1.26$1.39
30 days ago $1.26$1.40
7 days ago $1.27$1.40
Now $1.27$1.40

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.34 $0.35 +3.9%
Jun 2026 $0.33 $0.33 +1.2%
Mar 2026 $0.30 $0.30 +0.8%
Dec 2025 $0.26 $0.26 +0.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 14, 2026
  • weighted FASTBin and FASTVend device signings (MEUs) · FASTBin/FASTVend 2026 27,000 to 29,000 Lowered
    “Our goal for weighted FASTBin and FASTVend device signings in 2026 is between 27,000 and 29,000 MEUs (our previous goal was between 28,000 and 30,000 MEUs).” source
  • ongoing tax rate ongoing about 24.6%
    “We believe our ongoing tax rate, absent any discrete tax items or broader changes to tax law, will be approximately 24.6%.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Fastenal's revenue by +10.2% next year and +10.2% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+10.0%, weight 69%) and the company's own record (+10.6%, weight 31%) . How the weights are set.

Analyst recommendations

18 analysts, Oct 2026
Buy633%
Hold739%
Sell528%

Monthly trend

  1. Oct 2026672318
  2. Sep 2026672318
  3. Aug 2026672318
  4. Jul 2026672318

Counts of recommendations published by analysts covering Fastenal, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.7%
of tradable shares
Days to cover
4.57
at average volume
Short interest, 1 month
+4%
to October 15, 2026
Held by institutions
88%
of shares
Held by insiders
0.1%
of shares
Employees
21,749
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +30.5%

$40.28 on October 31, 2025 to $52.55

ThenNowEffect
Revenue (last 12 months) $7.8bn $8.7bn +12.5%
Net margin 15.3% 15.5% +1.0%
P/E multiple 38.9x 44.7x +14.9%
Share count 1149m 1151m −0.1%

Biggest factor: p/e multiple.

Last 3 years +88.7%

$27.85 on November 3, 2023 to $52.55

ThenNowEffect
Revenue (last 12 months) $7.2bn $8.7bn +20.8%
Net margin 15.5% 15.5% −0.4%
P/E multiple 28.4x 44.7x +57.3%
Share count 1146m 1151m −0.4%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FAST+34%−24%+41%+14%+14%+34%
Industry peers (median)+34%−10%+28%−7%+2%+12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FAST75%33%75%58%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FAST−14%−30%−8%−20%−22%−12%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 31% from December 29, 2021 to October 14, 2022. Getting back needed a 44% gain, reached on December 6, 2023, 418 days after the low.

Price behaviour

52-week range
$38.32 – $52.55
From 52-week high
0.0%
vs 50-day average
+4.5%
vs 200-day average
+12.4%
Volatility (1 year)
24%
Beta vs S&P 500
0.54

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.1%
After a week
9 up, 3 down
typical move ±5.6%
After a month
8 up, 3 down
typical move ±8.8%
Results releasedNext dayS&P 500 next day5 days21 days
October 14, 2026 −2.0% −0.8% +2.1% —
July 14, 2026 −3.6% +0.8% −4.3% +11.6%
April 13, 2026 −9.3% +2.2% −7.3% −11.4%
January 20, 2026 +2.0% −0.9% +0.5% +6.2%
October 14, 2025 −0.2% +0.3% +2.3% −2.7%
July 14, 2025 +4.3% −0.2% +6.4% +12.5%
April 11, 2025 +7.3% +2.8% +5.9% +6.1%
January 17, 2025 +1.8% +1.9% +2.0% +1.7%
October 11, 2024 +9.6% +1.4% +11.3% +21.1%
July 12, 2024 +5.7% +0.9% +5.8% +3.0%
April 11, 2024 −5.7% −0.6% −9.7% −8.7%
January 18, 2024 +9.4% +2.1% +9.2% +11.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Fastenal’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look rich

Option prices imply clearly more movement than the shares have shown. That strengthens the case for selling options.

  • Implied is 1.57× the last 60 days’ realised volatility , richer than 97% of the 229 stocks we screen today.
  • Puts and calls are priced at about the same implied volatility.
  • Why: implied is 1.57x 60-day realised, above 1-year realised, and in the top 20% of our coverage today.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

FAST Fastenal Grade B+ $52.70

Own 100 shares, sell the $55.00 call expiring December 18, 2026 (46 days) for $0.90 a share — $90.00 per contract.

Previous session · Bid $0.90, ask $1.15, quoted Mon 2 Nov, 17:23 New York time with FAST at $52.70. Option prices move with the shares: check the live chain at your broker before trading.

  • If FAST ends below $55.00: you keep your shares and the $90.00 — 1.7% extra on the position, 13.6% a year at that pace.
  • If it ends above $55.00: your shares are sold at $55.00, a total return of 6.1% including the premium — at or above our value of ~$27.
$320 $0 −$1.0k Break-even $51.80 Price $52.70 ← Our value ~$27
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$90.00
Annualised
13.6%
Break-even
$51.80
Max gain
$320
Chance of selling
~37%

Collar

Own the shares, buy the $50.00 put and sell the $55.00 call, both expiring December 18, 2026 (46 days).

  • Net cost of $0.25 a share ($25.00 per contract of 100 shares).
  • Worst case at expiry: -5.6%, if the shares fall below $50.00 (-5.1% from today).
  • Best case at expiry: +3.9%, if the shares rise above $55.00 (+4.4%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $27.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Fastenal in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Fastenal
$7B $7.5B $8B $8.5B $9B $9.5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $7.3B Revenue (TTM), FY24 Q1: $7.4B Revenue (TTM), FY24 Q2: $7.4B Revenue (TTM), FY24 Q3: $7.5B Revenue (TTM), FY24 Q4: $7.5B Revenue (TTM), FY25 Q1: $7.6B Revenue (TTM), FY25 Q2: $7.8B Revenue (TTM), FY25 Q3: $8B Revenue (TTM), FY25 Q4: $8.2B Revenue (TTM), FY26 Q1: $8.4B Revenue (TTM), FY26 Q2: $8.7B Revenue (TTM), FY26 Q3: $9.1B $9.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $7.3B
FY24 Q1 $7.4B
FY24 Q2 $7.4B
FY24 Q3 $7.5B
FY24 Q4 $7.5B
FY25 Q1 $7.6B
FY25 Q2 $7.8B
FY25 Q3 $8B
FY25 Q4 $8.2B
FY26 Q1 $8.4B
FY26 Q2 $8.7B
FY26 Q3 $9.1B
Revenue growth, TTM YoY Fastenal
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 5.2% Revenue growth, TTM YoY, FY24 Q1: 3.5% Revenue growth, TTM YoY, FY24 Q2: 2.4% Revenue growth, TTM YoY, FY24 Q3: 2.7% Revenue growth, TTM YoY, FY24 Q4: 2.7% Revenue growth, TTM YoY, FY25 Q1: 3.1% Revenue growth, TTM YoY, FY25 Q2: 4.8% Revenue growth, TTM YoY, FY25 Q3: 6.9% Revenue growth, TTM YoY, FY25 Q4: 8.7% Revenue growth, TTM YoY, FY26 Q1: 10.9% Revenue growth, TTM YoY, FY26 Q2: 12.5% Revenue growth, TTM YoY, FY26 Q3: 13.5% 13.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 5.2%
FY24 Q1 3.5%
FY24 Q2 2.4%
FY24 Q3 2.7%
FY24 Q4 2.7%
FY25 Q1 3.1%
FY25 Q2 4.8%
FY25 Q3 6.9%
FY25 Q4 8.7%
FY26 Q1 10.9%
FY26 Q2 12.5%
FY26 Q3 13.5%
Operating margin (TTM) Fastenal
19.5% 20% 20.5% 21% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 20.8% Operating margin (TTM), FY24 Q1: 20.7% Operating margin (TTM), FY24 Q2: 20.5% Operating margin (TTM), FY24 Q3: 20.3% Operating margin (TTM), FY24 Q4: 20.0% Operating margin (TTM), FY25 Q1: 19.9% Operating margin (TTM), FY25 Q2: 20.1% Operating margin (TTM), FY25 Q3: 20.2% Operating margin (TTM), FY25 Q4: 20.2% Operating margin (TTM), FY26 Q1: 20.2% Operating margin (TTM), FY26 Q2: 20.3% Operating margin (TTM), FY26 Q3: 20.5% 20.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 20.8%
FY24 Q1 20.7%
FY24 Q2 20.5%
FY24 Q3 20.3%
FY24 Q4 20.0%
FY25 Q1 19.9%
FY25 Q2 20.1%
FY25 Q3 20.2%
FY25 Q4 20.2%
FY26 Q1 20.2%
FY26 Q2 20.3%
FY26 Q3 20.5%
FCF margin (TTM) Fastenal
10% 12% 14% 16% 18% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 17.1% FCF margin (TTM), FY24 Q1: 16.1% FCF margin (TTM), FY24 Q2: 15.4% FCF margin (TTM), FY24 Q3: 13.9% FCF margin (TTM), FY24 Q4: 12.5% FCF margin (TTM), FY25 Q1: 11.4% FCF margin (TTM), FY25 Q2: 11.3% FCF margin (TTM), FY25 Q3: 12.1% FCF margin (TTM), FY25 Q4: 12.8% FCF margin (TTM), FY26 Q1: 13.8% FCF margin (TTM), FY26 Q2: 13.2% FCF margin (TTM), FY26 Q3: 13.0% 13.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 17.1%
FY24 Q1 16.1%
FY24 Q2 15.4%
FY24 Q3 13.9%
FY24 Q4 12.5%
FY25 Q1 11.4%
FY25 Q2 11.3%
FY25 Q3 12.1%
FY25 Q4 12.8%
FY26 Q1 13.8%
FY26 Q2 13.2%
FY26 Q3 13.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Fastenal took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $8.2B
  2. Cost of revenue $4.5B · 55.0%
  3. Gross profit $3.7B · 45.0%
  4. Selling, general and admin $2B · 24.8%
  5. Operating income $1.7B · 20.2%
  6. Income tax $397M · 4.8%
  7. Net income $1.3B · 15.3%

Shares of revenue. Source: Fastenal's 10-K for FY2025, as filed with the SEC.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 1,930 2,269 2,767 3,134 3,326 3,734 3,869 3,962 4,391 4,965 5,334 5,647 6,011 6,981 7,347 7,546 8,201 9,079
Gross profit 983 1,175 1,434 1,615 1,719 1,897 1,949 1,965 2,164 2,399 2,515 2,568 2,777 3,216 3,355 3,402 3,691 4,050
EBITDA 336 470 619 727 776 860 915 899 1,005 1,133 1,202 1,295 1,377 1,630 1,706 1,685 1,835 2,044
Operating income 296 430 575 674 713 788 829 796 882 999 1,057 1,142 1,217 1,454 1,529 1,510 1,656 1,865
Net income 184 265 358 421 449 494 516 499 579 752 791 859 925 1,087 1,155 1,151 1,258 1,418
Diluted EPS $0.15 $0.23 $0.30 $0.35 $0.38 $0.41 $0.44 $0.43 $0.50 $0.66 $0.69 $0.74 $0.80 $0.94 $1.01 $1.00 $1.09 $1.23
Growth (year on year)
Revenue −17.5% +17.6% +21.9% +13.3% +6.1% +12.2% +3.6% +2.4% +10.8% +13.1% +7.4% +5.9% +6.4% +16.1% +5.2% +2.7% +8.7% +13.5%
EBITDA −31.4% +40.1% +31.5% +17.5% +6.8% +10.7% +6.4% −1.7% +11.8% +12.7% +6.0% +7.8% +6.3% +18.4% +4.6% −1.2% +8.9% +13.8%
Operating income −34.3% +45.3% +33.7% +17.2% +5.8% +10.5% +5.2% −4.0% +10.8% +13.3% +5.8% +8.0% +6.6% +19.4% +5.2% −1.2% +9.6% +15.4%
Net income −34.1% +43.9% +34.9% +17.5% +6.7% +10.1% +4.5% −3.3% +15.9% +30.0% +5.2% +8.6% +7.7% +17.5% +6.3% −0.4% +9.4% +15.6%
Diluted EPS — +45.2% +34.4% +17.4% +6.3% +9.9% +6.6% −2.3% +15.6% +31.0% +5.3% +8.0% +7.4% +18.1% +6.9% −1.0% +9.0% —
Margins
Gross margin 50.9% 51.8% 51.8% 51.5% 51.7% 50.8% 50.4% 49.6% 49.3% 48.3% 47.2% 45.5% 46.2% 46.1% 45.7% 45.1% 45.0% 44.6%
EBITDA margin 17.4% 20.7% 22.4% 23.2% 23.3% 23.0% 23.6% 22.7% 22.9% 22.8% 22.5% 22.9% 22.9% 23.4% 23.2% 22.3% 22.4% 22.5%
Operating margin 15.3% 18.9% 20.8% 21.5% 21.4% 21.1% 21.4% 20.1% 20.1% 20.1% 19.8% 20.2% 20.3% 20.8% 20.8% 20.0% 20.2% 20.5%
Net margin 9.6% 11.7% 12.9% 13.4% 13.5% 13.2% 13.3% 12.6% 13.2% 15.1% 14.8% 15.2% 15.4% 15.6% 15.7% 15.2% 15.3% 15.6%
Free-cash-flow margin 13.1% 7.4% 5.4% 8.2% 6.3% 8.3% 10.2% 8.3% 10.6% 10.0% 11.2% 16.5% 10.2% 11.0% 17.1% 12.5% 12.8% 13.0%
Cash flow
Cash from operations 306 240 268 396 416 499 550 520 585 674 843 1,102 770 941 1,433 1,173 1,296 1,434
Capital spending 53 74 120 138 207 189 155 190 120 176 246 168 157 174 173 227 245 257
Free cash flow 254 167 148 258 210 310 395 330 465 498 596 934 614 767 1,260 947 1,051 1,177
Stock-based pay 4 4 4 5 5 7 6 4 5 5 6 6 6 7 7 8 8 10
Free cash flow after stock pay 250 163 144 253 204 303 389 326 460 493 591 928 608 760 1,253 939 1,042 1,167
Balance sheet
Cash 165 144 118 80 59 114 129 113 117 167 175 246 236 230 221 256 277 212
Total debt 0 0 0 0 0 180 365 390 415 500 345 405 390 555 260 200 125 100
Net debt (negative = net cash) −165 −144 −118 −80 −59 66 236 277 298 333 170 159 154 325 39 −56 −152 −112
Diluted shares 1,187m 1,179m 1,183m 1,189m 1,191m 1,189m 1,168m 1,157m 1,153m 1,149m 1,149m 1,151m 1,154m 1,151m 1,146m 1,149m 1,150m 1,150m
Returned to shareholders
Dividends 107 183 192 367 237 297 327 347 369 442 499 803 644 711 1,017 893 1,004 1,102
Buybacks 41 0 0 0 9 53 293 60 83 103 0 52 0 238 0 0 — —
Total returned 148 183 192 367 247 350 620 406 452 545 499 855 644 949 1,017 893 1,004 1,102

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

6 of 6 checks passed · September 30, 2026
What it owns · $5.5bn
Short-term assets $3.8bnLonger-term assets $1.7bn
What it owes, and who funded it · $5.1bn
Short-term liabilities $974mShareholders' equity $4.1bn
  • Short-term assets cover short-term liabilities $3.8bn of assets due within a year against $974m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $212m of cash against $100m of debt.
  • Debt below 40% of shareholders' equity Debt is 2% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 11% to 2% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.4bn of operating cash flow against $100m of debt.
  • Operating profit covers interest at least five times over Operating income of $1.9bn against $4m of interest.

From Fastenal's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$1.1B
Total shareholder yield
1.8%
dividends 1.8% + buybacks 0.0% of market value
Dividend payout ratio
78%
of net income paid out
Sales & admin spending
24.1%
of revenue
Days sales outstanding
65 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in trading companies & distributors
Last 12 months unless stated FAST AER QXO CNM WSO RUSHA Median
Revenue, last 12 months $9.1bn $8.5bn $9.9bn $7.7bn $7.3bn $7.2bn $2.2bn
Revenue growth, last 12 months 13.5% 6.5% 408.3% −0.5% −3.0% −5.9% 8.4%
Revenue growth, 3-year average 7.6% 100.9% 484.0% 5.1% 0.5% −1.9% 5.1%
Revenue growth, latest quarter 15.5% — 70.3% 2.5% 2.1% −1.6% 9.0%
Gross margin 44.6% 18.1% 24.0% 27.0% 27.5% 19.7% 28.3%
Operating margin 20.5% 27.0% −3.4% 9.6% 9.4% 5.1% 5.5%
Operating margin, 3-year average 20.4% — −9.4% 9.7% 10.0% 5.6% 6.4%
Net margin 15.6% 44.0% −5.2% 6.0% 6.5% 3.7% 3.5%
Cash from operations / revenue 15.8% 63.3% 2.6% 8.9% 10.1% 9.3% 4.9%
Free-cash-flow margin 13.0% 32.2% 1.4% 8.2% 9.6% 4.8% 2.4%
Free-cash-flow margin, 3-year average 13.0% 32.6% −0.7% 8.7% 8.4% 3.1% 3.1%
Stock pay / revenue 0.1% 2.0% 1.3% 0.2% 0.5% 0.4% 0.5%
Change in share count −0.7% −9.4% 2.3% −1.8% 1.0% −2.4% −0.5%

Median of all 32 companies we cover in trading companies & distributors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

32 trading companies & distributors companies
Measure Company Peer median Rank
Revenue growth Growth 13.5% 8.5% 12 of 32
Change in growth rate Growth +1.0pp +0.8pp 14 of 32
Gross margin Profitability 44.6% 28.9% 2 of 26
Operating margin Profitability 20.5% 5.5% 2 of 28
Net margin Profitability 15.6% 3.5% 4 of 32
Free-cash-flow margin Cash generation 13.0% 2.8% 5 of 32
Stock pay as % of revenue Cash generation 0.1% 0.5% 2 of 29
Long-term debt as % of assets Balance sheet 0.9% 21.4% 1 of 29
Days sales outstanding Balance sheet 65 days 57 days 20 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Reportable Segment Aggregation Before Other Operating $6.8B 83.2% ▲ 8.7%
All Other Segments $1.4B 16.8% ▲ 8.5%
Geography
Region Revenue Share YoY
United States $6.8B 83.2% ▲ 8.7%
Canada and Mexico $1.1B 13.5% ▲ 7.2%
Non North America $271M 3.3% ▲ 14.4%

From Fastenal's 10-K filed February 5, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$47.1B
Institutions reporting
1,454
Shares held vs prior quarter
▲ 1.0%
Positions opened / closed
116 / 80

Top buyers and sellers, Q2 2026: 681 institutions bought and 602 sold ; the biggest buyer was Jpmorgan Chase & Co (+9.7M shares) and the biggest seller Cantillon Capital Management LLC (−7.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $5.1B 106.3M 10.8% ▲ 1.5%
Vanguard Capital Management LLC $3.6B 74.9M 7.6% ▲ 0.5%
Vanguard Portfolio Management LLC $3.1B 64.9M 6.6% ▲ 0.7%
State Street Corp $2.7B 56.4M 5.8% ▲ 1.6%
Charles Schwab Investment Management Inc $2.1B 42.9M 4.4% ▲ 8.9%
Geode Capital Management, LLC $1.9B 39.5M 4.0% ▲ 1.4%
Invesco Ltd. $1.9B 39.6M 4.0% ▲ 3.5%
Morgan Stanley $1B 20.9M 2.1% ▼ 19.0%
Bank Of New York Mellon Corp $859M 17.9M 1.8% ▼ 27.4%
Bank Of America Corp $774M 16.1M 1.6% ▼ 1.1%
Baird Financial Group, Inc. $747M 15.6M 1.6% ▲ 1.2%
Jpmorgan Chase & Co $746M 15.7M 1.6% ▲ 162.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Fastenal's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $211,016 5 trades by 4 insiders, last 12 months Insider sales History → $5M 8 trades by 5 insiders · 0% under pre-set plans
Net ▼ $4.8M net selling
Insider Date Trade Shares Price Value
Papenfuss Donnalee Kathleen EVP-Strategy and Communication August 13, 2026 Sell 7,894 $51.38 $405,626
Papenfuss Donnalee Kathleen EVP-Strategy and Communication August 13, 2026 Sell 1,364 $51.42 $70,132
Ancius Michael J Director August 10, 2026 Sell 3,000 $52.00 $156,000
Heise Rita J. Director August 5, 2026 Sell 24,964 $50.05 $1.2M
Heise Rita J. Director August 5, 2026 Sell 10,000 $50.05 $500,544
Ancius Michael J Director July 28, 2026 Sell 3,000 $49.00 $147,000
Wisecup Reyne K Director March 5, 2026 Sell 36,920 $47.34 $1.7M
Satterlee Scott Director January 23, 2026 Sell 15,964 $44.19 $705,454
Nielsen Sarah N Director November 19, 2025 Buy 1,000 $39.60 $39,600
Johnson Daniel L. Director November 17, 2025 Buy 1,000 $40.44 $40,440
Hsu Hsenghung Sam Director November 13, 2025 Buy 1,000 $49.58 $49,580
Hsu Hsenghung Sam Director November 13, 2025 Buy 1,000 $40.58 $40,580

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 29 trades and filings

No trades in Fastenal disclosed in the last 12 months; 29 earlier trades on record.

  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded April 9, 2025, filed May 14, 2025
  • Sheri Biggs(R-SC 3):Sale (full), $15,001 - $50,000, traded March 19, 2025, filed October 5, 2025
  • Josh Gottheimer(D-NJ 5):Sale (partial), $1,001 - $15,000, traded June 21, 2024, filed July 9, 2024

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 14, 2027 estimated from the company's past filing pattern, not announced

  • October 14, 2026
  • July 14, 2026
  • April 13, 2026
  • January 20, 2026
  • October 14, 2025
  • July 14, 2025

Recent SEC filings

Data status

When each part of this page on Fastenal was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Fastenal in brief

What does Fastenal do?
Fastenal is a US-listed company in the trading companies & distributors industry. Its financial year ends in December.
What is Fastenal's stock ticker?
Fastenal trades under the ticker FAST on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Fastenal's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Fastenal reported revenue of $9.1B, 13.5% higher than a year earlier, according to its SEC filings.
What is Fastenal's free cash flow?
Fastenal's free-cash-flow margin is 13.0% of revenue over the trailing twelve months, ranking 5 of the 32 trading companies & distributors companies we cover.
What is Fastenal's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Fastenal's free cash flow after stock-based pay gives ~$27 per share in the base case, and ~$21–$36 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Fastenal's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Fastenal's market cap?
On November 2, 2026, Fastenal's market capitalisation was about $60.5B, with a price-to-earnings ratio of 42.6 and net debt of -$112M. Market figures come from third-party market data and may be delayed.
Does Fastenal pay a dividend?
Yes: Fastenal paid $1.1B in dividends over the trailing twelve months, a dividend yield of 1.83% and a payout ratio of 77.7%.
How much debt does Fastenal have?
Fastenal's debt-to-equity ratio is 2.4%, from its latest balance sheet (10.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Fastenal's competitors?
In our Trading Companies & Distributors peer group, the companies closest to Fastenal are Aercap Holdings N.V., QXO, Inc., Core & Main, Inc., Watsco Inc and Rush Enterprises Inc \tx\. The side-by-side comparison below sets their revenue, margins and growth against Fastenal's.
Are insiders buying or selling Fastenal stock?
Over the last 12 months, Fastenal's directors and officers reported 5 open-market purchases and 8 sales on Form 4. The insider trading page charts every trade.
When is Fastenal's next earnings date?
Around January 14, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Fastenal announces its own schedule.