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FASTENAL COFAST

Sector
Consumer
Industry
Retail-Building Materials, Hardware, Garden Supply
Exchange
Nasdaq

Stock Price $FAST

Latest filings

You are here#37 of 57 in Industrials by market cap

Filing record · 2016–202610-K1210-Q348-K100

FAST filed 12 annual reports (10-K), 34 quarterly reports (10-Q) and 100 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jul ’16Jul ’16
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Leadership change8-K · Aug ’21Aug ’21
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $8.20B
YoY changeLargest recent move+16.1%in FY22Latest +8.7%

1 older move runs past ±20% (largest +21.9%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All FAST Financial Metrics56 metrics

Income Statement13

Balance Sheet23

Cash Flow15

Per Share5

02—Overview

FASTENAL CO Financial Overview 2021–2025

Updated Jul 10, 2026

Fastenal’s "Digital Footprint" quietly consumed 62.4%a of its total sales by the close of FY2025, proving its successful transformation from a traditional hardware distributor into an embedded supply chain technology partner. By pushing inventory management directly onto customer factory floors through automated bins and vending machines, the company is actively capturing market share and insulating its revenue from broader manufacturing slowdowns.

This high-touch, high-tech integration has driven steady top-line expansion, with net sales growing from $6.01 billion in FY2021 to $8.2 billionb in FY2025. While shifting focus toward larger national accounts and non-fastener products created structural pricing headwinds, Fastenal effectively managed these pressures to defend a 45.0% gross margin in FY2025. The company leveraged its overhead expenses to improve operating margins by 20 basis points, fueled by a 7.6% expansion in its Fastenal Managed Inventory (FMI) installed base to 136,638 units. This operational efficiency ultimately generated a robust $1.3 billion in net cash from operating activities, entirely covering its capital requirements and shareholder return programs.

The market has aggressively rewarded this tech-enabled resilience and steady cash generation. At the end of FY2025, investors valued the company at a $46.1 billionc market cap, with the stock closing at $40.13 and trading at 36.8x earnings.

Recent Developments (Q4 2025 and Q1 2026)

Fastenal accelerated momentum in Q1 2026, posting a 12.4% year-over-year net sales increase to $2,201.7 milliond. The company capitalized on strict cost controls, lowering SG&A expenses to 24.3% of sales and driving operating income up 13.6% to $447.6 million. To support ongoing digital integration and enterprise growth, the company appointed technology veteran Vishal Talwar to its Board of Directors in June 2026 and expanded its revolving credit facility to $835 million with maturity extended to 2031.

Bulls will point to surging operating cash flow, which jumped 44.3% to $378.4 millione in Q1 2026, successfully funding $295.7 million in shareholder returns. Conversely, bears will note that gross margins contracted to 44.6% from 45.1% as unfavorable price-cost dynamics and a shift toward lower-margin national accounts weighed on per-unit profitability. The market continues pricing in flawless execution, leaving the stock richly valued at 41.0x earnings as of the Q1 2026 reporting date.

What to watch: gross margin stabilization amid shifting customer mix; capital allocation decisions following the newly expanded credit facility.

03—Filings

Recent SEC Filings

  1. 8-KFASTENAL CO 8-K Report, Financial Results (Oct 14, 2026)Fastenal (FAST) reported third-quarter 2026 results that were strong on the top line and margin. Net sales rose 15.5% year-over-year to $2,463.3 million, with daily sales up the same 15.5% (both periods had 64 business days). Growth was driven by share gains with larger customers, pricing (about 240 basis points of contribution), and broad-based demand. Contract customers grew 18.8% in daily sales versus 7.8% for non-contract customers, and manufacturing sales rose 17.2%. Operating margin expanded 80 basis points to 21.5%, and diluted EPS grew 19.8% to $0.35, as SG&A leverage (SG&A fell to 23.3% of sales from 24.6%) more than offset a 40 basis point gross margin decline to 44.8%, which was driven by customer mix shift toward larger accounts. Cash generation was the main soft spot. Operating cash flow was $421.6 million, or 105% of net income, down from 115% a year earlier, as receivables grew 19.9% year-over-year to $1,615.2 million against 15.5% sales growth. Accounts receivable rose faster than sales because larger customers carry longer payment terms. Nine-month operating cash flow conversion also slipped to 94.8% from 96.2%. Management nonetheless returned $328.4 million to shareholders (82% of net income), and total debt fell to $100.0 million from $195.0 million a year earlier. Management kept its 2026 capex guidance of $310-330 million but lowered its FMI device signings goal to 27,000-29,000 MEUs from 28,000-30,000. For investors, the quarter shows durable share gains with larger customers and healthy operating leverage, offset by mix-driven gross margin pressure and working capital absorbing cash. Gross margin also benefited from roughly 20 basis points of favorable timing items (tariff refunds, rebates), which may not recur. The lowered device signings goal and the working capital build are the metrics to watch in coming quarters.
  2. 8-KFASTENAL CO 8-K/A Report, Executive Changes (Jul 16, 2026)Fastenal Company (FAST) has announced a key leadership transition and a corresponding executive compensation update. The Board of Directors has elected Mr. Watts, who was previously appointed President and Chief Sales Officer in December 2025 and subsequently named President and CEO, as a director of the company. This appointment is effective as of the CEO Transition Date and fills the vacancy left by Daniel L. Florness. Mr. Watts will serve until the next annual shareholder meeting. In conjunction with his new role as CEO and director, Mr. Watts will receive a new compensation package. This includes a base salary of $650,000, prorated for 2026, along with target quarterly cash incentive awards tied to exceeding prior year's pre-tax income. He will also receive supplemental quarterly cash incentives consistent with the ROA Assets Program. Importantly, no additional equity awards are planned for Mr. Watts in 2026, though he will be eligible in 2027. This filing also confirms no undisclosed related-party transactions or arrangements concerning Mr. Watts's directorship.
  3. 8-KFASTENAL CO 8-K Report, Financial Results (Jul 14, 2026)Fastenal (FAST) reported Q2 2026 results that show continued top-line momentum with operating margin holding steady. Net sales rose 14.7% year-over-year to $2,386.9 million, and daily sales grew by the same 14.7% (both periods had 64 business days). Growth was driven by share gains with larger contract customers, pricing (about 290 basis points of contribution), and a modest improvement in industrial production. Gross margin contracted 75 basis points to 44.6%, mainly from unfavorable price/cost, but SG&A leverage (SG&A fell to 23.5% of sales from 24.4%) fully offset that pressure, leaving operating margin flat at 21.0%. Diluted EPS rose 15.9% to $0.33 and net income rose 15.9% to $382.8 million. Cash generation was the soft spot in the quarter. Operating cash flow fell 4.6% to $265.7 million, only 69.4% of net income versus 84.4% a year earlier, as receivables grew 17.6% year-over-year to $1,557.4 million on strong late-quarter sales and a larger mix of customers with longer payment terms. Management attributes the gap to timing rather than a deterioration in collections, and first-half operating cash flow still rose 19.1%. The company returned $305.1 million (79.7% of net income) to shareholders through $275.4 million in dividends and $29.7 million in buybacks, and total debt fell to $120.0 million. Management also trimmed its 2026 MEU signings goal to 27,000-29,000 from 28,000-30,000, and expects capex of $310-330 million, up from $230.6 million in 2025.
  4. 8-KFASTENAL CO 8-K Report, Material Agreement (Jun 23, 2026)Fastenal Company (FAST) has filed an 8-K detailing significant amendments to its credit facilities. The company entered into a Second Amended and Restated Credit Agreement, renewing its revolving credit commitment to $835 million with an expanded accordion option to a potential total of $1.335 billion. This facility now matures on June 18, 2031, with extension options, and features modified financial covenants, notably removing the consolidated EBITDA requirement and introducing minimum interest coverage and maximum total leverage ratios. Additionally, Fastenal amended its Master Note Agreement, reducing the aggregate principal amount of outstanding Notes to $600 million but extending the issuance period to June 18, 2031, and adopting the same revised financial covenants as the credit agreement. These changes reflect an effort to streamline financial covenants and potentially enhance financial flexibility. These amendments suggest Fastenal is proactively managing its capital structure and debt agreements. The shift in covenants from an EBITDA-based requirement to interest coverage and leverage ratios indicates a focus on maintaining solvency and manageable debt levels relative to earnings and total debt. The increased accordion option on the revolving credit facility provides additional capacity for future growth or strategic initiatives, while the extension of maturity dates offers long-term financing stability. Investors should note the reduction in the Master Note Agreement's capacity but the extended timeline, balancing short-term borrowing needs with long-term financing arrangements.
  5. 8-KFASTENAL CO 8-K Report, Executive Changes (Jun 12, 2026)Fastenal Company (FAST) announced a strategic addition to its Board of Directors with the appointment of Mr. Vishal Talwar, effective June 12, 2026. This appointment expands the Board from eleven to twelve members. Mr. Talwar brings a wealth of experience in digital transformation, information technology, and data strategy, currently serving as Executive Vice President and Chief Digital and Information Officer at FedEx Corporation, and President of FedEx DataWorks. His extensive background includes leadership roles at Accenture, Wipro, Dell Technologies, and IBM, focusing on technology consulting and serving large enterprise clients. Mr. Talwar's appointment is particularly significant given the increasing importance of digital infrastructure and data analytics in the industrial distribution sector. His expertise is expected to bolster the Board's capabilities in navigating technological advancements and driving data-driven decision-making. He has also been appointed to the Nominating and Corporate Governance Committee, indicating a role in shaping the company's governance and future leadership. Investors should view this as a positive move towards strengthening the company's strategic oversight in areas critical for future growth and competitive advantage.
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04—See also

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