Fastenal CompanyFAST
NasdaqGS•Industrials•Industrial Distribution
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. It offers miscellaneous supplies and hardware, including pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market comprising original equipment manufacturers; maintenance, repair, and operations customers; non-residential construction market; farmers, truckers, railroads, mining companies, schools, and retail trades; and oil exploration, production, and refinement companies, as well as federal, state, and local governmental entities. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.
Fastenal Company (FAST) reported trailing twelve months revenue of $8.44B as of March 2026, a 10.9% increase year-over-year. Quarterly revenue reached $2.20B, reflecting continued top-line momentum.
Fastenal Company generated $1.30B in TTM net income, with quarterly EBITDA of $447.60M. The operating margin expanded from 20.1% to 20.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (20.3%) and net margin (15.4%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 15.2% a year ago, signaling stronger bottom-line efficiency.
FAST trades at a P/E of 39.9x (a premium multiple) and a P/S of 6.1x. The price-to-book ratio of 13.0x indicates a significant premium over book value.
The company generated $319.50M in free cash flow over the trailing twelve months, a 54.7% increase year-over-year, indicating cash generation ability. The balance sheet shows $5.21B in total assets with $100.00M in long-term debt against $3.99B in stockholders equity for a debt-to-equity ratio of 0.0, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are stable at ~20.1%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 31.9% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~13.8% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~20.2% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.0 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation