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Fastenal Company

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Fastenal Company • NASDAQ
$40.40 ▲ 0.25% (+0.10)
Market Cap $46.37 B
52w High $50.63
52w Low $35.30
Dividend Yield 0.88%
P/E 37.76
Volume 1.68M
Outstanding Shares 1.15B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.133B ▲ $524.3M ▲ $335.5M ▲ 15.727% ▼ $0.29 $487.2M ▲
Q2-2025 $2.08B ▲ $506.7M ▲ $330.3M ▲ 15.878% ▲ $0.29 ▲ $483.9M ▲
Q1-2025 $1.959B ▲ $490M ▲ $298.7M ▲ 15.244% ▲ $0.26 ▲ $439.5M ▲
Q4-2024 $1.825B ▼ $473.4M ▲ $262.1M ▼ 14.366% ▼ $0.23 ▼ $389.2M ▼
Q3-2024 $1.91B $470.5M $298.1M 15.606% $0.26 $433.8M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $288.1M ▲ $5.116B ▲ $1.222B ▲ $3.894B ▲
Q2-2025 $237.8M ▲ $5.016B ▲ $1.209B ▲ $3.807B ▲
Q1-2025 $231.8M ▼ $4.871B ▲ $1.181B ▲ $3.69B ▲
Q4-2024 $255.8M ▼ $4.698B ▼ $1.082B ▼ $3.616B ▲
Q3-2024 $292.2M $4.738B $1.141B $3.597B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $335.5M ▲ $386.9M ▲ $-54.8M ▲ $-280.9M ▼ $50.3M ▲ $326.6M ▲
Q2-2025 $330.3M ▲ $278.6M ▲ $-64.4M ▼ $-216.4M ▲ $6M ▲ $209.3M ▲
Q1-2025 $298.7M ▲ $262.2M ▼ $-53.8M ▲ $-235.5M ▲ $-24M ▲ $206.5M ▼
Q4-2024 $262.1M ▼ $282.8M ▼ $-57.5M ▼ $-250.1M ▼ $-36.4M ▼ $222.6M ▼
Q3-2024 $298.1M $296.9M $-55.9M $-210.7M $36.7M $237.5M

Five-Year Company Overview

Income Statement

Income Statement Fastenal’s income statement shows a mature company with steady growth and solid profitability. Sales have risen at a measured pace over the past five years, including through volatile economic periods. Profit levels remain healthy, but margins have flattened recently: earnings have not grown as quickly as revenue, and the latest year shows roughly stable or slightly softer profit per share versus the prior year. That suggests some cost or pricing pressure, but from a still-strong base. Overall, this is the profile of a stable, high-earnings industrial distributor rather than a fast-growth story.

Balance Sheet

Balance Sheet The balance sheet looks conservative and resilient. Total assets have grown gradually, and shareholder equity has increased each year, signaling retained strength and reinvestment in the business. Debt is moderate and has trended down from its recent peak, which lowers financial risk and gives the company room to maneuver in downturns. Cash on hand is relatively modest but appears adequate given the company’s consistent cash generation and history of disciplined leverage. Overall, the financial foundation appears solid and not overly stretched.

Cash Flow

Cash Flow Cash generation is a key strength. Operating cash flow has comfortably exceeded the company’s investment spending in most years, leaving a healthy cushion of free cash flow. Capital spending has been steady and controlled, indicating ongoing investment in the network and technology without overcommitting. There was an especially strong cash year recently, followed by a more normal but still solid performance, which is typical for a company tied to industrial activity. Together, the pattern supports the view that Fastenal can fund its growth, shareholder returns, and balance-sheet strength from internal cash rather than relying heavily on borrowing.

Competitive Edge

Competitive Edge Fastenal occupies a strong competitive position in industrial distribution, built on service intensity and deep customer integration rather than just price. Its dense branch and onsite location network gives it local presence and quick response times that are hard for more distant or purely online competitors to match. By embedding itself inside customer facilities and managing inventory directly, Fastenal raises switching costs and becomes part of customers’ daily operations. Its own trucking fleet and distribution centers enhance reliability and control over service levels. Risks include exposure to industrial cycles, ongoing price competition from other large distributors and e-commerce players, and the need to keep its service model cost-efficient as wages and logistics costs evolve.

Innovation and R&D

Innovation and R&D Innovation at Fastenal is focused on practical, customer-facing technology rather than traditional lab-style R&D. The company’s inventory management ecosystem—vending machines, sensor-enabled bins, on-site stockrooms, and integrated software—turns a basic supply business into a data- and systems-driven service. A growing share of sales runs through digital channels and automated devices, which deepens customer dependence on Fastenal’s tools and data. The company also experiments with logistics improvements, such as electrifying parts of its fleet and advancing e-commerce and self-service platforms. While it does not brand itself as a heavy R&D spender, the continuous refinement of these systems and the use of analytics to optimize inventory give it a technology edge that reinforces its moat, provided it continues to invest and avoid technological complacency.

Summary

Fastenal looks like a financially conservative, highly cash-generative industrial distributor that has evolved into a technology-enabled service partner. The income statement shows steady growth with strong but recently plateauing margins, while the balance sheet and cash flows highlight disciplined leverage and reliable internal funding. Competitively, its dense physical footprint, embedded onsite model, and proprietary inventory systems create meaningful barriers to switching and support long-term customer relationships. Its main uncertainties lie in cyclical industrial demand, margin pressure in a competitive market, and the need to keep its tech and service model ahead of rivals. Overall, this is a mature, stable business that has used innovation in processes and customer integration to strengthen a traditional distribution model.

NEWS

November 12, 2025 · 4:05 PM UTC

Fastenal Company & Edmonton Oilers Enter Multi-Year Agreement

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November 3, 2025 · 4:05 PM UTC

Fastenal Names New Chief Financial Officer and Senior Executive Vice President

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October 13, 2025 · 6:50 AM UTC

Fastenal Company Reports 2025 Third Quarter Earnings

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October 10, 2025 · 4:15 PM UTC

Fastenal Company Announces Cash Dividend

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September 26, 2025 · 4:05 PM UTC

Fastenal Company Announces Conference Call to Review 2025 Third Quarter Earnings

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