YouTube · Q2 2026 · 2026-08-07
FAST · NasdaqGS
Fastenal Company
Industrial Distribution · United States
USD 55.491.2% daily changeQuote 2026-11-11 · USD
- Market cap (USD)
- US$63.66B
- Trailing P/E
- 45.11x
- Forward P/E
- 39.28x
- Quarterly revenue growth
- 15.5%
- Trailing net margin
- 15.6%
- Indicated dividend yield
- 1.9%
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-19 (provider estimate; issuer confirmation unavailable here).
Company background
Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company's fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. It offers miscellaneous supplies and hardware, including pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, rivets, and related accessories. The company serves the manufacturing market comprising original equipment manufacturers; maintenance, repair, and operations customers; non-residential construction market; farmers, truckers, railroads, mining companies, schools, and retail trades; and oil exploration, production, and refinement companies, as well as federal, state, and local governmental entities. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.
Company websiteQ3 2026
Go beyond the headline.
FAST Stock: Profit Jumped. Why Did Cash Lag? — Q3 2026
Published 2026-10-16
Q3 2026 REPORT HIGHLIGHTS
What’s changed for FAST
Fastenal grew earnings faster than cash after investment. Follow the working-capital bridge, customer mix and the growth priced into the shares.
Growth is real.
Equal business-day counts mean the reported 15.5% revenue gain is also the daily-sales gain; pricing contributed about 240 basis points.
Expense leverage carried profit.
Gross margin fell, but selling and administrative costs grew more slowly than revenue.
Collections deserve attention.
Receivables grew 19.9%, faster than sales, while inventory growth was much slower.
Cash has competing claims.
Gross capex, dividends and repurchases left only $18.9m from quarterly operating cash.
The valuation needs sustained cash growth.
A five-year reverse case requires roughly 30% annual cash growth at our 9% return and 3% terminal assumptions.
Comparable businesses
FAST peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | FASTFastenal CompanySnapshot 2026-11-11Financial period: 2026-09-30 | GWWW.W. Grainger, Inc.Snapshot 2026-11-11Financial period: 2026-09-30 | FERGFerguson Enterprises Inc.Snapshot 2026-11-11Financial period: 2026-09-30 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$63.66B | US$69.59B | US$51.22B | US$60.41Bn=2 |
| Forward P/EProvider forward earnings estimate | 39.28x | 28.51x | 20.82x | 24.66xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 30.90x | 21.41x | 18.23x | 19.82xn=2 |
| Revenue growthLatest quarter vs prior-year quarter | 15.5% | 11.3% | 9.5% | 10.4%n=2 |
| Operating marginLatest reported quarter | 20.5% | 15.9% | 8.6% | 12.3%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | 1.4% | 1.9% | — | — |
| Net debt / EBITDANet debt / trailing EBITDA | 0.12x | 0.69x | 2.42x | 1.56xn=2 |
| Debt / equityTotal debt / positive book equity | 0.11x | 0.65x | 1.23x | 0.94xn=2 |
| Trailing P/ETrailing twelve-month earnings | 45.11x | 32.66x | 25.02x | 28.84xn=2 |
| Price / bookPrice / positive book equity per share | 15.34x | 16.06x | 7.68x | 11.87xn=2 |
| EV / salesEnterprise value / trailing revenue | 6.96x | 3.70x | 1.80x | 2.75xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | 20.7% | 102.9% | -4.9% | 49.0%n=2 |
| Gross marginTrailing twelve months | 44.6% | 39.4% | 30.5% | 35.0%n=2 |
| Net marginTrailing twelve months | 15.6% | 11.2% | 6.0% | 8.6%n=2 |
| Return on equityProvider trailing return; positive equity only | 35.3% | 52.3% | — | — |
| Free cash flow marginTrailing free cash flow / revenue | 10.1% | 6.9% | — | — |
| Dividend yieldIndicated annual dividend / price | 1.9% | 0.7% | 1.3% | 1.0%n=2 |
| Earnings payoutProvider trailing dividend payout | 78.1% | 20.9% | 33.6% | 27.2%n=2 |
| Current ratioCurrent assets / current liabilities | 3.93x | 2.61x | 1.74x | 2.18xn=2 |
| BetaProvider historical market sensitivity | 0.66 | 0.95 | 1.11 | 1.03n=2 |
YouTube · Q2 2026 · 2026-08-07
YouTube · Q2 2026 · 2026-08-13
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for FAST
Q3 20262026-10-16
FREE RESEARCH PACKET · Q3 2026
FAST: Profit jumped. Why did cash lag?
Fastenal grew earnings faster than cash after investment. Follow the working-capital bridge, customer mix and the growth priced into the shares.
Research published October 16, 2026 · Download original report
Read Research PacketFAST Stock: Profit Jumped. Why Did Cash Lag? — Q3 2026
Presentation · 2026-10-16 · YouTube
Q2 20262026-07-15
FAST Stock: Fastenal Is a Wonderful Business — But Is It a Buy at This Price?
Presentation · 2026-07-15 · YouTube
Q1 20262026-04-16
FAST Stock: $2.2B Revenue — Q1 2026 Earnings Analysis
Presentation · 2026-04-16 · YouTube