FASTENAL CO

Listed Company

FASTCIK 0000815556NasdaqLarge AcceleratedRetail-Building Materials, Hardware, Garden SupplyMinnesotaFY ends Dec 31

Period

FY 2025

Revenue

$8.20B

Net Income

$1.26B

Total Assets

$5.05B

Equity

$3.94B

Shares Out

1.15B

Op. Cash Flow

$1.30B

Business

FASTENAL CO is a distributor of industrial and construction supplies that provides local, in-market sales and supply chain services to business customers. It offers threaded fasteners, safety supplies, private-label products, managed inventory solutions, industrial vending and bin systems, eBusiness procurement, light manufacturing, and industrial services. Its operating structure centers on branch locations and customer-dedicated Onsite operations supported by FMI (Fastenal Managed Inventory), digital analytics and distribution/manufacturing support. The company serves primarily North American manufacturing and construction markets and also sells through international branches, distribution centers, trucks, vending devices, and digital channels.

Summary from filing dated 2025-02-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	8,201	7,546	7,347	6,981	6,011
Cost of sales	4,509	4,144	3,992	3,765	3,234
Gross profit	3,691	3,402	3,355	3,216	2,777
Selling, general, and administrative expenses	2,036	1,892	1,826	1,762	1,560
Operating income	1,656	1,510	1,529	1,454	1,217
Interest income	6	5	4	700,000	100,000
Interest expense	−6	−7	−11	−14	—
Income before income taxes	1,655	1,508	1,522	1,440	1,208
Income tax expense	397	358	367	353	283
Net income	1,258	1,151	1,155	1,087	925
Basic net income per share (in dollars per share)	1.1	1	1.01	1.89	1.61
Diluted net income per share (in dollars per share)	1.09	1	1.01	1.89	1.6
Basic weighted average shares outstanding (in shares)	1,148	1,145	1,143	574	575
Diluted weighted average shares outstanding (in shares)	1,150	1,149	1,146	576	577

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	277	256	221	230	236
Trade accounts receivable, net of allowance for credit losses of $5.3 and $5.2, respectively	1,245	1,109	1,088	1,013	900
Inventories	1,748	1,645	1,523	1,708	1,524
Prepaid income taxes	20	19	18	8	9
Other current assets	182	184	172	165	188
Total current assets	3,472	3,212	3,021	3,125	2,857
Property and equipment, net	1,132	1,057	1,011	1,010	1,019
Operating lease right-of-use assets	309	279	270	243	242
Other assets	140	150	161	171	181
Total assets	5,053	4,698	4,463	4,549	4,299
Current portion of debt	25	75	60	202	60
Accounts payable	317	288	264	255	233
Accrued expenses	265	226	241	241	298
Current portion of operating lease liabilities	106	99	96	92	91
Income taxes payable	3	0	—	—	—
Total current liabilities	716	687	661	790	682
Long-term debt	100	125	200	353	330
Operating lease liabilities	211	187	179	155	156
Deferred income taxes	67	69	73	84	89
Other long-term liabilities	16	14	1	4	0
Commitments and contingencies (Notes 5, 8, 9, and 11)	—	—	—	—	—
Preferred stock: $0.01 par value, 5,000,000 shares authorized, no shares issued or outstanding	0	0	0	0	0
Common stock: $0.01 par value, 1,600,000,000 shares authorized, 1,148,057,473 and 1,146,640,904 shares issued and outstanding, respectively	12	12	6	6	6
Additional paid-in capital	116	83	41	4	96
Retained earnings	3,868	3,614	3,357	3,219	2,971
Accumulated other comprehensive loss	−51	−92	−55	−65	−31
Total stockholders' equity	3,944	3,616	3,349	3,163	3,042
Total liabilities and stockholders' equity	5,053	4,698	4,463	4,549	4,299

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation of property and equipment	169	165	167	166	160
Gain on sale of property and equipment	−3	−4	−4	1	−1
Bad debt expense	5	1	2	−2	3
Deferred income taxes	−2	−4	−11	−5	−14
Stock-based compensation	8	8	7	7	6
Amortization of intangible assets	11	11	11	11	11
Trade accounts receivable, net	−130	−32	−72	−120	−135
Inventories	−89	−134	189	−198	−190
Other current assets	3	−12	−6	23	−48
Accounts payable	26	28	8	22	26
Accrued expenses	33	−17	−600,000	−57	26
Income taxes	2	−1	−9	400,000	−2
Other	5	14	−3	6	3
Net cash provided by operating activities	1,296	1,173	1,433	941	770
Purchases of property and equipment	−245	−227	−173	−174	−157
Proceeds from sale of property and equipment	15	12	12	11	8
Other	−500,000	−400,000	−600,000	−600,000	−300,000
Net cash used in investing activities	−231	−215	−161	−163	−149
Proceeds from debt obligations	1,105	775	880	1,795	525
Payments against debt obligations	−1,180	−835	−1,175	−1,630	−540
Proceeds from exercise of stock options	24	40	30	9	32
Cash dividends paid	−1,004	−893	−1,017	−711	−644
Net cash used in financing activities	−1,055	−914	−1,282	−775	−627
Effect of exchange rate changes on cash and cash equivalents	11	−11	1	−9	−4
Net increase (decrease) in cash and cash equivalents	21	35	−9	−6	−10
Cash paid for interest	7	8	12	13	10
Net cash paid for income taxes	399	357	383	354	294

Filings

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