FAST
FASTENAL CO
Consumer Discretionary • CIK: 0000815556
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Market Cap
$40.38B
P/E (TTM)
29.5x
Rev Growth (TTM)
+8.7%
Net Margin (TTM)
15.3%
FCF Yield (TTM)
2.6%
FCF Margin (TTM)
12.8%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$1.1B
Q4 '25
$308M-6%
Q3 '25
$327M+56%
FCF Margin
TTM12.8%
Q4 '2515.2%
Sector: 4.9%Top 25%
OCF Margin15.8%
OCF/NI1.03x
CapEx Coverage5.3x
FCF Yield2.6%
FCF Growth (2Y)+11%
Cash Conversion Cycle
169 days
DSO: 57+DIO: 138−DPO: 26
Capital Allocation & Returns
Balanced
Total Shareholder YieldEst.
Est.2.2%
Div Yield2.2%
+Est. Buyback0.3%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)2.2%
FCF Payout Ratio83.8%
Free Cash Flow (TTM)$1.1B
Capital Return / FCF95.6%
Est. Dividends Paid (TTM)$880.5M
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
33.7%
Stable
+0.0% YoY-4.1%
P25MedianP75
75th pctl (med: 0.2%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
15.4%
8Q: 15.5%
Asset Turnover
1.65x
8Q: 1.66x
Leverage (1+D/E)
1.03x
D/E: 0.03x
DuPont: 26.1% ≈ 33.7% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
7.48x
8Q:7.44x
-26.3%
Invested Cap Turn
2.20x
8Q:2.20x
-10.0%
CapEx Intensity
6.6%
8Q:6.4%
CapEx/Depreciation
1.46x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $8.2B | $2.0B↓5.0% | $2.1B↑2.5% | $2.1B↑6.2% | $2.0B↑7.4% | $1.8B↓4.5% | $1.9B↓0.3% | $1.9B↑1.1% | $1.9B |
Operating Income | $1.7B | $384.3M↓13.0% | $441.5M↑1.2% | $436.1M↑10.7% | $393.9M↑14.2% | $344.8M↓11.2% | $388.1M↑0.3% | $386.9M↓0.8% | $390.2M |
Net Income | $1.3B | $294.0M↓12.4% | $335.5M↑1.6% | $330.3M↑10.6% | $298.7M↑14.0% | $262.1M↓12.1% | $298.1M↑1.8% | $292.7M↓1.7% | $297.7M |
Operating Cash Flow | $1.3B | $368.1M↓4.9% | $386.9M↑38.9% | $278.6M↑6.3% | $262.2M↓7.3% | $282.8M↓4.7% | $296.9M↑15.1% | $258.0M↓23.1% | $335.6M |
Free Cash Flow | $1.1B | $308.1M↓5.7% | $326.6M↑56.0% | $209.3M↑1.4% | $206.5M↓7.2% | $222.6M↓6.3% | $237.5M↑17.6% | $201.9M↓29.1% | $284.8M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
29.5x
High PEG ratio (4.1x) suggests expensive for growth
Valuation Lenses
Earnings
29.5x
vs – sector
Cash Flow
45.8x
EV/FCF vs –
Growth-Adj
4.1xPEG
Expensive for growth
Quality-Adj
0.9P/E per %ROIC
ROIC: 33.7%
Shareholder Returns
Dividend
2.2%
Buyback
–
Total Yield
2.2%
Market Cap$40.38B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
97/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
33.2%
8Q:–
Return on Invested Capital (ROIC)Top 25%
33.7%
8Q:–
-4.1%
vs Sector:0.2%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 15.4%
Asset Turnover: 1.65x
Earnings Quality
Cash Conversion
1.03x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin45.0%
Capital Efficiency
Invested Capital Turnover2.20x
Working Capital
Cash Conversion Cycle169 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
64/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
8.7%
OpInc Growth YoY
11.5%
EPS Growth YoY
7.1%
FCF 3Y CAGR
11.0%
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
45.0%
Operating
20.2%
Top 25% in sector
Net
15.3%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-2.5 pts
FCF: 12.8% | Net: 15.3%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $151.80M
Interest Coverage
–
+Net cash position: $151.80M
Leverage Metrics
Debt-to-Equity
0.03x
Balance sheet risk & solvency analysis