Fastenal
FAST · NasdaqRetail-Building Materials, Hardware, Garden Supply · Fiscal year ends Dec 31
Fastenal reported revenue of $8.2B in the fiscal year ended Dec 2025, up 8.7% from the year before. Operating income was $1.7B, an operating margin of 20.2%, and net income was $1.3B. Operating cash flow of $1.3B less capital expenditure of $245M left free cash flow of $1.1B. It held more cash than debt (net cash $152M).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $6B | $7B | $7.3B | $7.5B | $8.2B |
| Cost of revenue | $3.2B | $3.8B | $4B | $4.1B | $4.5B |
| Gross profit | $2.8B | $3.2B | $3.4B | $3.4B | $3.7B |
| Selling, general & admin | $1.6B | $1.8B | $1.8B | $1.9B | $2B |
| Operating income | $1.2B | $1.5B | $1.5B | $1.5B | $1.7B |
| Interest expense | $10M | $14M | $11M | $7M | $6M |
| Pre-tax income | $1.2B | $1.4B | $1.5B | $1.5B | $1.7B |
| Income tax | $283M | $353M | $367M | $358M | $397M |
| Net income | $925M | $1.1B | $1.2B | $1.2B | $1.3B |
| Diluted EPS | 1.60 | 1.89 | 1.01 | 1.00 | 1.09 |
| Diluted shares | 577M | 576M | 1,146M | 1,149M | 1,150M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $236M | $230M | $221M | $256M | $277M |
| Receivables | $900M | $1B | $1.1B | $1.1B | $1.2B |
| Inventory | $1.5B | $1.7B | $1.5B | $1.6B | $1.7B |
| Current assets | $2.9B | $3.1B | $3B | $3.2B | $3.5B |
| Net PP&E | $1B | $1B | $1B | $1.1B | $1.1B |
| Total assets | $4.3B | $4.5B | $4.5B | $4.7B | $5.1B |
| Payables | $233M | $255M | $264M | $288M | $317M |
| Current liabilities | $682M | $790M | $661M | $687M | $716M |
| Short-term debt | $60M | $202M | $60M | $75M | $25M |
| Long-term debt | $330M | $353M | $200M | $125M | $100M |
| Shareholders' equity | $3B | $3.2B | $3.3B | $3.6B | $3.9B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $770M | $941M | $1.4B | $1.2B | $1.3B |
| Capital expenditure | $157M | $174M | $173M | $227M | $245M |
| Free cash flow | $614M | $767M | $1.3B | $947M | $1.1B |
| Depreciation & amortisation | $160M | $177M | $177M | $175M | $179M |
| Stock-based compensation | $6M | $7M | $7M | $8M | $8M |
| Acquisitions | $0 | $0 | – | – | – |
| Share buybacks | $0 | $238M | $0 | $0 | – |
| Dividends paid | $644M | $711M | $1B | $893M | $1B |
| Dividend per share | 1.12 | 1.24 | 0.89 | 0.78 | 0.88 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 16.1% | 5.2% | 2.7% | 8.7% |
| Operating income growth (YoY) | – | 19.4% | 5.2% | −1.2% | 9.6% |
| EPS growth (YoY) | – | 18.1% | −46.6% | −1.0% | 9.0% |
| Gross margin | 46.2% | 46.1% | 45.7% | 45.1% | 45.0% |
| Operating margin | 20.3% | 20.8% | 20.8% | 20.0% | 20.2% |
| Net margin | 15.4% | 15.6% | 15.7% | 15.2% | 15.3% |
| Return on equityBlank when equity is negative | 30.4% | 34.4% | 34.5% | 31.8% | 31.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 33.7% | 38.7% | 40.2% | 37.6% | 38.2% |
| Free cash flow margin | 10.2% | 11.0% | 17.1% | 12.5% | 12.8% |
| Cash conversion (CFO ÷ net income) | 0.83x | 0.87x | 1.24x | 1.02x | 1.03x |
| Receivable days | 55 | 53 | 54 | 54 | 55 |
| Inventory days | 172 | 166 | 139 | 145 | 141 |
| Payable days | 26 | 25 | 24 | 25 | 26 |
| Interest cover | 126x | 102x | 142x | 207x | 267x |
| Debt ÷ equity | 0.13x | 0.18x | 0.08x | 0.06x | 0.03x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $154M | $325M | $39M | −$56M | −$152M |
| Current ratio | 4.19x | 3.96x | 4.57x | 4.67x | 4.85x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.