FASTENAL CO financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FASTENAL CO files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	3,962	4,391	4,965	5,334	5,647	6,011	6,981	7,347	7,546	8,201
Cost of revenue	1,997	2,227	2,566	2,818	3,080	3,234	3,765	3,992	4,144	4,509
Gross profit	1,965	2,164	2,399	2,515	2,568	2,777	3,216	3,355	3,402	3,691
Selling, general and administrative	1,170	1,283	1,400	1,458	1,426	1,560	1,762	1,826	1,892	2,036
Operating income	796	882	999	1,057	1,142	1,217	1,454	1,529	1,510	1,656
Interest expense	6.5	9.1	12.6	13.9	9.7	9.7	14.3	10.8	7.3	6.2
Pre-tax income	790	873	987	1,044	1,133	1,208	1,440	1,522	1,508	1,655
Income tax	290	295	235	253	274	283	353	367	358	397
Net income	499	579	752	791	859	925	1,087	1,155	1,151	1,258
EBITDA	899	1,005	1,133	1,202	1,295	1,377	1,630	1,706	1,685	1,835
EPS, basic	0.43	0.50	0.66	0.69	0.75	0.81	0.95	1.01	1.00	1.10
EPS, diluted	0.43	0.50	0.66	0.69	0.75	0.80	0.95	1.01	1.00	1.09
Shares, basic (weighted)	1,162	1,153	1,148	1,146	1,148	1,150	1,148	1,143	1,145	1,148
Shares, diluted (weighted)	1,162	1,153	1,149	1,149	1,151	1,154	1,151	1,146	1,149	1,150
Dividend per share	0.30	0.32	0.39	0.44	0.70	0.56	0.62	0.89	0.78	0.88

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	113	117	167	175	246	236	230	221	256	277
Receivables	500	608	714	742	769	900	1,013	1,088	1,109	1,245
Inventory	993	1,093	1,279	1,366	1,338	1,524	1,708	1,523	1,645	1,748
Other current assets	103	118	147	157	140	188	165	172	184	182
Total current assets	1,721	1,936	2,316	2,457	2,500	2,857	3,125	3,021	3,212	3,472
Property, plant and equipment	900	894	925	1,023	1,031	1,019	1,010	1,011	1,057	1,132
Lease right-of-use assets			0	243	243	242	243	270	279	309
Other non-current assets	48.4	81.2	80.5	76.3	191	181	171	161	150	140
Total assets	2,669	2,911	3,322	3,800	3,965	4,299	4,549	4,463	4,698	5,053
Accounts payable	109	148	194	193	207	233	255	264	288	317
Accrued liabilities	156	194	241	252	272	298	241	241	226	265
Short-term debt	10.5	3	3	3	40	60	202	60	75	25
Total current liabilities	276	351	437	545	613	682	790	661	687	716
Long-term debt	380	412	497	342	365	330	353	200	125	100
Lease liabilities			0	148	152	156	155	179	187	211
Other non-current liabilities				0		0	3.5	1	14.1	15.5
Total liabilities	736	814	1,019	1,134	1,232	1,257	1,385	1,114	1,082	1,109
Total debt	390	415	500	345	405	390	555	260	200	125
Paid-in capital	37.4	8.5	3	67.2	59.1	96.2	3.6	41	82.8	116
Retained earnings	1,940	2,111	2,342	2,634	2,690	2,971	3,219	3,357	3,614	3,868
Other comprehensive income	-47.3	-25.1	-44.8	-38.4	-21.2	-30.7	-64.8	-54.8	-91.5	-51.1
Shareholders' equity	1,933	2,097	2,303	2,666	2,733	3,042	3,163	3,349	3,616	3,944
Total equity	1,933	2,097	2,303	2,666	2,733	3,042	3,163	3,349	3,616	3,944
Total liabilities and equity	2,669	2,911	3,322	3,800	3,965	4,299	4,549	4,463	4,698	5,053
Shares outstanding	2,325	1,150	1,144	1,148	1,148	1,151	2,283	1,144	1,147	1,148

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	499	579	752	791	859	925	1,087	1,155	1,151	1,258
Depreciation and amortization	104	124	134	145	153	160	177	177	175	179
Stock-based compensation	4.1	5.2	5.1	5.7	5.7	5.6	7.2	7.3	8	8.4
Deferred income tax	25.6	-29.8	28.4	11.7	2.6	-12.3	-7.5	-10.8	-3.8	6.2
Change in receivables	-40.5	-104	-120	-30.4	-29.7	-135	-120	-72.3	-31.9	-130
Change in inventory	-80.9	-76.3	-193	-84.4	36	-190	-198	189	-134	-89.2
Change in payables	-17.2	36.3	46.1	-0.8	14.2	26.1	21.9	8.4	27.5	26
Cash from operations	520	585	674	843	1,102	770	941	1,433	1,173	1,296
Capital expenditures	-190	-120	-176	-246	-168	-157	-174	-173	-227	-245
Acquisitions	0	-58.7	-3.7	0	-125	0	0
Cash from investing	-188	-179	-174	-240	-282	-149	-163	-161	-215	-231
Debt issued	950	1,015	980	910	1,000	525	1,795	880	775	1,105
Debt repaid	-920	-980	-895	-1,065	-940	-540	-1,630	-1,175	-835	-1,180
Stock issued	29.3	9.5	13.4	58.5	41	31.6	9.2	30.1	39.6	24.3
Share buybacks	-59.5	-82.6	-103	0	-52	0	-238	0	0
Dividends paid	-347	-369	-442	-499	-803	-644	-711	-1,017	-893	-1,004
Cash from financing	-347	-407	-447	-595	-754	-627	-775	-1,282	-914	-1,055
Exchange rate effect	-1.3	5.5	-3.5	-0.2	5.1	-4
Net change in cash	-16.3	4.2	50.3	7.7	70.8	-9.5	-6.1	-8.8	34.5	21
Free cash flow	330	465	498	596	934	614	767	1,260	947	1,051
Interest paid	6.2	8.7	12.6	13.9	8.4	9.9	13.3	12.2	7.8	6.6
Income taxes paid	248	304	215	243	260	294	354	383	357	399

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $50.43 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	44.7%	Gross profit / revenue.
Operating margin	20.3%	Operating income / revenue.
EBITDA margin	22.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	20.3%	Pre-tax income / revenue.
Net margin	15.5%	Net income / revenue.
FCF margin	13.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	16.0%	Cash from operations / revenue.
Effective tax rate	23.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	33.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	25.5%	Net income / average total assets.
Return on invested capital (ROIC)	33.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	24.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.8%	Capital expenditures / revenue.
D&A / revenue	1.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	8.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	8.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	7.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	9.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	4.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	7.7%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	8.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	4.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	7.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	9.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	5.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	7.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	9.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	4.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	7.9%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	10.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	11.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	11.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	11.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	2.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	12.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	12.2%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	4.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	7.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	7.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.18x	Current assets / current liabilities.
Quick ratio	2.00x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.23x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.03x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	2.3%	Total debt / total assets.
Liabilities / assets	23.1%	Total liabilities / total assets.
Net debt	-$84.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.04x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	394x	Operating income / interest expense.
Working capital	$2.80B	Current assets - current liabilities.
Tangible book value	$4.07B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.65x	Revenue / average total assets.
Fixed asset turnover	7.56x	Revenue / average property, plant and equipment.
Inventory turnover	2.79x	Cost of revenue / average inventory.
Days inventory	131 days	365 x average inventory / cost of revenue.
Receivables turnover	5.62x	Revenue / average receivables.
Days sales outstanding	65 days	365 x average receivables / revenue.
Days payables	30 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	166 days	Days inventory + days sales outstanding - days payables.
FCF conversion	85.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	17.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.18	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$7.61	Revenue / diluted weighted shares.
FCF per share	$1.00	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.22	Cash from operations / diluted weighted shares.
Book value per share	$3.55	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.55	Tangible book value / shares outstanding.
Cash per share	$0.18	(Cash + short-term investments) / shares outstanding.
Payout ratio	78.1%	Dividends paid / net income, when net income is positive.
Dividends / FCF	91.4%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$57.87B	Share price x shares outstanding.
Enterprise value	$57.78B	Market cap + total debt - cash - short-term investments.
P/E	42.8x	Market cap / net income. Only when net income is positive.
P/S	6.61x	Market cap / revenue.
P/B	14.2x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	14.2x	Market cap / tangible book value, when positive.
P/FCF	50.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	41.4x	Market cap / cash from operations, when positive.
EV/Sales	6.60x	Enterprise value / revenue.
EV/EBIT	32.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	29.7x	Enterprise value / EBITDA, when both are positive.
EV/FCF	50.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.0%	Free cash flow / market cap.
Earnings yield	2.3%	Net income / market cap (the inverse of P/E).
Dividend yield	1.8%	Dividends paid over the period / market cap.
Shareholder yield	1.8%	(Dividends paid + share buybacks) / market cap.
PEG	8.78x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was FASTENAL CO's revenue in fiscal 2025?

FASTENAL CO reported revenue of $8.20B for fiscal 2025, 8.7% higher than the year before.

Was FASTENAL CO profitable in fiscal 2025?

Yes. Net income was $1.26B, a net margin of 15.3%.

How much free cash flow did FASTENAL CO generate in fiscal 2025?

Cash from operations of $1.30B minus capital expenditures of $245.3M left free cash flow of $1.05B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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