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Fastenal began as a partnership in 1967, and was incorporated under the laws of Minnesota in 1968. We opened our first branch in 1967 in Winona, Minnesota, a city with a population today of approximately 26,000.
$43.68
+$0.11 (+0.25%)
Price from 16 days ago
Margins and capital returns are both well above average: 20.19% operating margin, ROIC at 29.67%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 8.7%, steady but not accelerating.
At 39x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
38.7x earnings, 43.2x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$8.44B
▲ +8.7% YoY
Net Income (TTM)
$1.30B
▲ +9.4% YoY
Op. Margin
20.25%
▲ +0.2pp YoY
ROIC
29.54%
▲ +0.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.16B
▲ +11.0% YoY
Op. Cash Flow (TTM)
$1.41B
▲ +10.4% YoY
Net Debt
$137M
Cash & Equiv.
$309M
5Y CAGR: +7.7%
5Y CAGR: +2.4%
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