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Fastenal

Nasdaq:FAST
Snowflake Description

Excellent balance sheet with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FAST
Nasdaq
$20B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. The last earnings update was 49 days ago. More info.


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FAST Share Price and Events
7 Day Returns
-2%
NasdaqGS:FAST
-3%
US Trade Distributors
-1.6%
US Market
1 Year Returns
22.4%
NasdaqGS:FAST
13.7%
US Trade Distributors
13.9%
US Market
FAST Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fastenal (FAST) -2% -6% 12.9% 22.4% 42.6% 52.3%
US Trade Distributors -3% -1.4% 13.4% 13.7% 20.2% 25.3%
US Market -1.6% 1% 4.9% 13.9% 36.1% 45.8%
1 Year Return vs Industry and Market
  • FAST outperformed the Trade Distributors industry which returned 13.7% over the past year.
  • FAST outperformed the Market in United States of America which returned 13.9% over the past year.
Price Volatility
FAST
Industry
5yr Volatility vs Market

FAST Value

 Is Fastenal undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Fastenal to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Fastenal.

NasdaqGS:FAST Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:FAST
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.936 (1 + (1- 21%) (3.42%))
0.974
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.974 * 5.44%)
7.04%

Discounted Cash Flow Calculation for NasdaqGS:FAST using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Fastenal is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:FAST DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.04%)
2020 668.60 Analyst x7 624.63
2021 717.40 Analyst x5 626.14
2022 830.00 Analyst x2 676.77
2023 896.00 Analyst x2 682.53
2024 944.83 Est @ 5.45% 672.39
2025 985.81 Est @ 4.34% 655.41
2026 1,020.89 Est @ 3.56% 634.09
2027 1,051.64 Est @ 3.01% 610.23
2028 1,079.31 Est @ 2.63% 585.10
2029 1,104.82 Est @ 2.36% 559.53
Present value of next 10 years cash flows $6,326.00
NasdaqGS:FAST DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $1,104.82 × (1 + 1.74%) ÷ (7.04% – 1.74%)
$21,208.06
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $21,208.06 ÷ (1 + 7.04%)10
$10,740.82
NasdaqGS:FAST Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $6,326.00 + $10,740.82
$17,066.82
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $17,066.82 / 573.53
$29.76
NasdaqGS:FAST Discount to Share Price
Calculation Result
Value per share (USD) From above. $29.76
Current discount Discount to share price of $35.06
= -1 x ($35.06 - $29.76) / $29.76
-17.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Fastenal is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Fastenal's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fastenal's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:FAST PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $1.36
NasdaqGS:FAST Share Price ** NasdaqGS (2019-12-04) in USD $35.06
United States of America Trade Distributors Industry PE Ratio Median Figure of 41 Publicly-Listed Trade Distributors Companies 16.95x
United States of America Market PE Ratio Median Figure of 2,925 Publicly-Listed Companies 18.13x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Fastenal.

NasdaqGS:FAST PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:FAST Share Price ÷ EPS (both in USD)

= 35.06 ÷ 1.36

25.71x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fastenal is overvalued based on earnings compared to the US Trade Distributors industry average.
  • Fastenal is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Fastenal's expected growth come at a high price?
Raw Data
NasdaqGS:FAST PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
7.6%per year
United States of America Trade Distributors Industry PEG Ratio Median Figure of 33 Publicly-Listed Trade Distributors Companies 1.01x
United States of America Market PEG Ratio Median Figure of 2,046 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

NasdaqGS:FAST PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.71x ÷ 7.6%

3.4x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fastenal is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Fastenal's assets?
Raw Data
NasdaqGS:FAST PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $4.51
NasdaqGS:FAST Share Price * NasdaqGS (2019-12-04) in USD $35.06
United States of America Trade Distributors Industry PB Ratio Median Figure of 51 Publicly-Listed Trade Distributors Companies 1.58x
United States of America Market PB Ratio Median Figure of 5,089 Publicly-Listed Companies 1.76x
NasdaqGS:FAST PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:FAST Share Price ÷ Book Value per Share (both in USD)

= 35.06 ÷ 4.51

7.78x

* Primary Listing of Fastenal.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Fastenal is overvalued based on assets compared to the US Trade Distributors industry average.
X
Value checks
We assess Fastenal's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Trade Distributors industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Trade Distributors industry average (and greater than 0)? (1 check)
  5. Fastenal has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FAST Future Performance

 How is Fastenal expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fastenal expected to grow at an attractive rate?
  • Fastenal's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Fastenal's earnings growth is positive but not above the United States of America market average.
  • Fastenal's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:FAST Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:FAST Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 7.6%
NasdaqGS:FAST Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 6.9%
United States of America Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 13.1%
United States of America Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:FAST Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:FAST Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 7,170 1,126 1,090 2
2022-12-31 6,690 1,048 1,007 2
2021-12-31 6,030 904 899 9
2020-12-31 5,651 859 840 15
2019-12-31 5,359 810 795 15
2019-12-04
NasdaqGS:FAST Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 5,288 768 781
2019-06-30 5,189 696 765
2019-03-31 5,089 719 772
2018-12-31 4,965 674 752
2018-09-30 4,822 626 736
2018-06-30 4,675 604 681
2018-03-31 4,529 535 619
2017-12-31 4,391 585 579
2017-09-30 4,250 589 541
2017-06-30 4,130 560 525
2017-03-31 4,023 564 507
2016-12-31 3,962 520 499

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fastenal's earnings are expected to grow by 7.6% yearly, however this is not considered high growth (20% yearly).
  • Fastenal's revenue is expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:FAST Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from Fastenal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FAST Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.95 2.10 1.80 2.00
2022-12-31 1.79 1.90 1.68 2.00
2021-12-31 1.57 1.70 1.49 8.00
2020-12-31 1.46 1.55 1.40 14.00
2019-12-31 1.38 1.40 1.37 14.00
2019-12-04
NasdaqGS:FAST Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 1.36
2019-06-30 1.34
2019-03-31 1.35
2018-12-31 1.31
2018-09-30 1.28
2018-06-30 1.18
2018-03-31 1.07
2017-12-31 1.00
2017-09-30 0.94
2017-06-30 0.91
2017-03-31 0.88
2016-12-31 0.86

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Fastenal is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Fastenal's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Fastenal has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FAST Past Performance

  How has Fastenal performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Fastenal's growth in the last year to its industry (Trade Distributors).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Fastenal's year on year earnings growth rate has been positive over the past 5 years.
  • Fastenal's 1-year earnings growth is less than its 5-year average (6.2% vs 10.7%)
  • Fastenal's earnings growth has exceeded the US Trade Distributors industry average in the past year (6.2% vs -8.5%).
Earnings and Revenue History
Fastenal's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Fastenal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FAST Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 5,288.40 781.00 1,453.90
2019-06-30 5,189.10 765.10 1,438.50
2019-03-31 5,088.60 771.70 1,421.10
2018-12-31 4,965.10 751.90 1,400.20
2018-09-30 4,822.00 735.50 1,373.60
2018-06-30 4,675.00 681.00 1,347.30
2018-03-31 4,528.60 618.70 1,319.60
2017-12-31 4,390.50 578.60 1,282.80
2017-09-30 4,249.90 541.00 1,244.60
2017-06-30 4,130.20 524.80 1,214.20
2017-03-31 4,023.00 507.40 1,185.20
2016-12-31 3,962.00 499.40 1,169.50
2016-09-30 3,936.89 496.50 1,162.08
2016-06-30 3,919.04 506.10 1,147.36
2016-03-31 3,902.57 514.96 1,131.40
2015-12-31 3,869.20 516.40 1,121.50
2015-09-30 3,872.65 522.85 1,118.19
2015-06-30 3,858.21 519.67 1,121.95
2015-03-31 3,810.32 509.83 1,121.32
2014-12-31 3,733.51 494.15 1,110.78
2014-09-30 3,621.01 474.99 1,086.38
2014-06-30 3,498.62 461.02 1,055.21
2014-03-31 3,396.28 451.52 1,029.94
2013-12-31 3,326.11 448.64 1,007.43
2013-09-30 3,269.58 448.12 985.96
2013-06-30 3,213.73 438.09 969.81
2013-03-31 3,171.03 429.39 955.60
2012-12-31 3,133.58 420.54 941.24

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Fastenal has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Fastenal used its assets more efficiently than the US Trade Distributors industry average last year based on Return on Assets.
  • Fastenal's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Fastenal's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Trade Distributors industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Fastenal has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FAST Health

 How is Fastenal's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Fastenal's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fastenal is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Fastenal's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Fastenal's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Fastenal Company Filings, last reported 2 months ago.

NasdaqGS:FAST Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 2,585.70 445.00 191.20
2019-06-30 2,503.70 500.00 175.00
2019-03-31 2,397.20 489.00 185.40
2018-12-31 2,302.70 500.00 167.20
2018-09-30 2,315.60 390.00 129.70
2018-06-30 2,226.60 425.00 135.50
2018-03-31 2,172.00 405.00 137.10
2017-12-31 2,096.90 415.00 116.90
2017-09-30 2,026.30 440.00 133.40
2017-06-30 1,991.50 445.00 115.10
2017-03-31 1,981.70 365.00 134.30
2016-12-31 1,933.10 390.00 112.70
2016-09-30 1,909.30 445.00 146.98
2016-06-30 1,868.16 430.00 155.46
2016-03-31 1,821.88 370.00 150.55
2015-12-31 1,801.29 365.00 129.02
2015-09-30 1,783.49 315.00 111.78
2015-06-30 1,763.98 330.00 121.17
2015-03-31 1,862.81 125.00 120.79
2014-12-31 1,915.22 90.00 114.50
2014-09-30 1,901.57 105.00 116.33
2014-06-30 1,868.12 70.00 106.39
2014-03-31 1,800.32 0.00 89.47
2013-12-31 1,772.70 0.00 58.96
2013-09-30 1,749.64 0.00 92.63
2013-06-30 1,706.05 0.00 123.29
2013-03-31 1,640.86 0.00 159.66
2012-12-31 1,560.36 0.00 79.97
  • Fastenal's level of debt (17.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5.5% vs 17.2% today).
  • Debt is well covered by operating cash flow (172.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 72x coverage).
X
Financial health checks
We assess Fastenal's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Fastenal has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FAST Dividends

 What is Fastenal's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.51%
Current annual income from Fastenal dividends. Estimated to be 2.79% next year.
If you bought $2,000 of Fastenal shares you are expected to receive $50 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Fastenal's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Fastenal's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:FAST Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
United States of America Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1957 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:FAST Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.41 2.00
2022-12-31 1.25 2.00
2021-12-31 1.02 5.00
2020-12-31 0.93 10.00
2019-12-31 0.87 10.00
2019-12-04
NasdaqGS:FAST Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-10-10 0.880 2.438
2019-07-10 0.880 2.842
2019-04-10 0.860 2.623
2019-01-16 0.860 2.771
2018-10-09 0.800 2.988
2018-07-10 0.800 2.779
2018-04-10 0.740 2.891
2018-01-16 0.740 2.693
2017-10-10 0.640 2.536
2017-07-11 0.640 2.958
2017-04-11 0.640 2.898
2017-01-17 0.640 2.526
2016-10-10 0.600 2.720
2016-07-11 0.600 2.836
2016-04-11 0.600 2.642
2016-01-14 0.600 2.720
2015-10-12 0.560 2.831
2015-07-13 0.560 2.870
2015-04-14 0.560 2.649
2015-01-14 0.560 2.642
2014-10-09 0.500 2.232
2014-02-06 0.400 1.690
2014-01-15 0.400 1.768
2013-10-15 0.400 1.683
2013-10-09 0.400 1.680
2012-10-10 0.370 1.561
2011-10-12 0.325 1.484
2011-07-11 0.260 1.565
2011-04-11 0.260 1.568
2011-01-18 0.500 3.221
2010-07-13 0.210 1.595
2010-01-19 0.200 1.645
2009-07-13 0.185 1.952
2009-01-20 0.175 2.106

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Fastenal's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Fastenal's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Fastenal afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fastenal has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FAST Management

 What is the CEO of Fastenal's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dan Florness
COMPENSATION $2,429,411
AGE 56
TENURE AS CEO 3.9 years
CEO Bio

Mr. Daniel L. Florness, also known as Dan, has been the Chief Executive Officer, President and Director at Fastenal Company since January 1, 2016. Mr. Florness served as the Chief Financial Officer of Fastenal Company since June 1996 until December 31, 2015 and served as its Executive Vice President and Treasurer from December 2002 to 2015. He oversaw a portion of the Fastenal's manufacturing division, its product development and procurement, and its national accounts business. He serves as the Principal Accounting Officer at Fastenal Company. He spent ten years working for KPMG Peat Marwick LLP in Minneapolis and New Jersey. From June 1996 to November 2002, Mr. Florness served as a Treasurer and Chief Financial Officer of Fastenal Company. He has been a Governor of MinnErgy, LLC since May 15, 2006. Mr. Florness also serves on the board of directors of PlastiComp, Inc. He attended the University of Wisconsin-River Falls, earning a BS in Accounting in 1986. He has been Independent Director of H.B. Fuller Company since July 11, 2018. He serves on the boards of Gundersen Health System. He also has served on several community boards, including National FFA Sponsors (“Future Farmers of America,” Indianapolis, IN), American Red Cross (Winona, MN), and the Winona Community Foundation.

CEO Compensation
  • Dan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dan's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Fastenal management team in years:

3.9
Average Tenure
54
Average Age
  • The tenure for the Fastenal management team is about average.
Management Team

Dan Florness

TITLE
President
COMPENSATION
$2M
AGE
56
TENURE
3.9 yrs

Holden Lewis

TITLE
Executive VP & CFO
COMPENSATION
$1M
AGE
50
TENURE
3.3 yrs

Reyne Wisecup

TITLE
Senior EVP of Human Resources & Director
COMPENSATION
$1M
AGE
56
TENURE
12.1 yrs

Terry Owen

TITLE
Senior Executive Vice President of Sales Operations
COMPENSATION
$2M
AGE
51
TENURE
5.6 yrs

Jeffery Watts

TITLE
Executive Vice President of International Sales
COMPENSATION
$1M
AGE
47
TENURE
3 yrs

Nicholas Lundquist

TITLE
Senior EVP of Operations & Director
COMPENSATION
$301K
AGE
62
TENURE
3 yrs

Sheryl Lisowski

TITLE
Controller
COMPENSATION
$231K
AGE
52
TENURE
6.2 yrs

John Milek

TITLE
VP & General Counsel

Ellen Stolts

TITLE
Financial Reporting & Regulatory Compliance Manager

Leland Hein

TITLE
Senior Executive Vice President of Sales
COMPENSATION
$978K
AGE
58
TENURE
3.9 yrs
Board of Directors Tenure

Average tenure and age of the Fastenal board of directors in years:

7.4
Average Tenure
56
Average Age
  • The tenure for the Fastenal board of directors is about average.
Board of Directors

Will Oberton

TITLE
Independent Chairman of the Board
COMPENSATION
$385K
AGE
61
TENURE
5.7 yrs

Dan Florness

TITLE
President
COMPENSATION
$2M
AGE
56
TENURE
3.9 yrs

Reyne Wisecup

TITLE
Senior EVP of Human Resources & Director
COMPENSATION
$1M
AGE
56
TENURE
19.5 yrs

Nicholas Lundquist

TITLE
Senior EVP of Operations & Director
COMPENSATION
$301K
AGE
62
TENURE
0.2 yrs

Mike Dolan

TITLE
Independent Director
COMPENSATION
$196K
AGE
71
TENURE
19.5 yrs

Michael Ancius

TITLE
Independent Director
COMPENSATION
$147K
AGE
54
TENURE
10.9 yrs

Scott Satterlee

TITLE
Independent Director
COMPENSATION
$129K
AGE
50
TENURE
10.9 yrs

Darren Jackson

TITLE
Independent Director
COMPENSATION
$133K
AGE
54
TENURE
7.4 yrs

Rita Heise

TITLE
Independent Director
COMPENSATION
$129K
AGE
62
TENURE
7.4 yrs

Steve Eastman

TITLE
Independent Director
COMPENSATION
$141K
AGE
54
TENURE
4.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
06. Aug 19 Buy Michael Ancius Individual 05. Aug 19 05. Aug 19 1,000 $28.99 $28,990
02. Aug 19 Buy Daniel Johnson Individual 01. Aug 19 01. Aug 19 2,500 $30.49 $76,218
19. Jul 19 Buy Michael Ancius Individual 18. Jul 19 18. Jul 19 1,104 $30.13 $33,264
01. Feb 19 Sell Nicholas Lundquist Individual 31. Jan 19 31. Jan 19 -10,000 $30.26 $-302,550
30. Jan 19 Sell Michael Dolan Individual 29. Jan 19 29. Jan 19 -5,000 $30.00 $-150,000
X
Management checks
We assess Fastenal's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Fastenal has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FAST News

Simply Wall St News

How Does Fastenal Company's (NASDAQ:FAST) Earnings Growth Stack Up Against Industry Performance? Fastenal Company (NASDAQ:FAST): Has Recent Earnings Growth Beaten Long-Term Trend?

When Fastenal Company (NasdaqGS:FAST) released its most recent earnings update (30 June 2019), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … See our latest analysis for Fastenal Commentary On FAST's Past Performance FAST's trailing twelve-month earnings (from 30 June 2019) of US$765m has jumped 12% compared to the previous year. … You should continue to research Fastenal to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for FAST’s future growth?

Simply Wall St -

I Built A List Of Growing Companies And Fastenal (NASDAQ:FAST) Made The Cut

See our latest analysis for Fastenal Fastenal's Earnings Per Share Are Growing. … Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. … Of course, you can do well (sometimes) buying stocks that are not growing earnings and do not have insiders buying shares.

Simply Wall St -

Estimating The Intrinsic Value Of Fastenal Company (NASDAQ:FAST)

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF ($, Millions) $683.3m $766.5m $838.5m $883.5m $923.1m $959.6m $994.0m $1.0b $1.1b $1.1b Growth Rate Estimate Source Analyst x7 Analyst x4 Analyst x2 Analyst x2 Est @ 4.48% Est @ 3.95% Est @ 3.59% Est @ 3.33% Est @ 3.15% Est @ 3.02% Present Value ($, Millions) Discounted @ 8.33% $630.8 $653.2 $659.6 $641.6 $618.9 $593.9 $567.9 $541.7 $515.8 $490.6 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= $5.9b We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$1.1b × (1 + 2.7%) ÷ (8.3% – 2.7%) = US$20b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$20b ÷ ( 1 + 8.3%)10 = $9.01b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $14.92b. … NasdaqGS:FAST Intrinsic value, August 19th 2019 The assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Should You Be Tempted To Sell Fastenal Company (NASDAQ:FAST) Because Of Its P/E Ratio?

The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Fastenal: P/E of 22.27 = $29.74 ÷ $1.34 (Based on the year to June 2019.) Is A High Price-to-Earnings Ratio Good? … A higher P/E ratio means that investors are paying a higher price for each $1 of company earnings. … The Verdict On Fastenal's P/E Ratio Fastenal has a P/E of 22.3.

Simply Wall St -

Daniel Johnson Is The Independent Director of Fastenal Company (NASDAQ:FAST) And They Just Spent US$76k On Shares

Check out our latest analysis for Fastenal The Last 12 Months Of Insider Transactions At Fastenal In the last twelve months, the biggest single sale by an insider was when the Senior Executive Vice President of Operations, Nicholas Lundquist, sold US$303k worth of shares at a price of US$30.26 per share. … NasdaqGS:FAST Recent Insider Trading, August 5th 2019 Insider Ownership Many investors like to check how much of a company is owned by insiders. … While recent transactions indicate confidence in Fastenal, insiders don't own enough of the company to overcome our cautiousness about the longer term transactions.

Simply Wall St -

Could Fastenal Company (NASDAQ:FAST) Have The Makings Of Another Dividend Aristocrat?

Dividend Growth Potential While dividend payments have been relatively reliable, it would also be nice if earnings per share (EPS) were growing, as this is essential to maintaining the dividend's purchasing power over the long term. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Fastenal has grown its earnings per share at 12% per annum over the past five years. … Earnings per share have been growing rapidly, but given that it is paying out more than half of its earnings as dividends, we wonder how Fastenal will keep funding its growth projects in the future.

Simply Wall St -

Income Investors Should Know That Fastenal Company (NASDAQ:FAST) Goes Ex-Dividend Soon

So we need to check whether the dividend payments are covered, and if earnings are growing. … Check out our latest analysis for Fastenal Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. … While Fastenal's dividends were covered by the company's reported profits, cash is somewhat more important, so it's not great to see that the company didn't generate enough cash to pay its dividend.

Simply Wall St -

Fastenal (NASDAQ:FAST) Has A Pretty Healthy Balance Sheet

Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. … Either way, since Fastenal does have more debt than cash, it's worth keeping an eye on its balance sheet. … Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it.

Simply Wall St -

What Should Investors Know About Fastenal Company's (NASDAQ:FAST) Growth?

Generally, it seems that analyst expectations are fairly bearish, as a 6.9% rise in profits is expected in the upcoming year, relative to the higher past 5-year average growth rate of 9.6%. … I've plotted out each year's earnings expectations and inserted a line of best fit to calculate an annual growth rate from the slope in order to understand the overall trajectory of FAST's earnings growth over these next few years. … NasdaqGS:FAST Past and Future Earnings, July 10th 2019 From the current net income level of US$752m and the final forecast of US$922m by 2022, the annual rate of growth for FAST’s earnings is 7.3%.

Simply Wall St -

Does Fastenal Company's (NASDAQ:FAST) CEO Salary Compare Well With Others?

At the time of writing our data says that Fastenal Company has a market cap of US$19b, and is paying total annual CEO compensation of US$2.4m. … Most shareholders would consider it a positive that Dan Florness takes less in total compensation than the CEOs of most other large companies, leaving more for shareholders. … NasdaqGS:FAST CEO Compensation, June 30th 2019 Is Fastenal Company Growing?

Simply Wall St -

FAST Company Info

Description

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, and internationally. It offers fasteners, and other industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, such as bolts, nuts, screws, studs, and related washers, which are used in manufactured products and construction projects, as well as in the maintenance and repair of machines. It also offers miscellaneous supplies and hardware, including various pins and 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; and non-residential construction market, which includes general, electrical, plumbing, sheet metal, and road contractors. It also serves 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. As of December 31, 2018, the company distributed its products through a network of 2,227 company owned stores. Fastenal Company was founded in 1967 and is headquartered in Winona, Minnesota.

Details
Name: Fastenal Company
FAST
Exchange: NasdaqGS
Founded: 1967
$20,021,833,783
573,527,178
Website: http://www.fastenal.com
Address: Fastenal Company
2001 Theurer Boulevard,
Winona,
Minnesota, 55987,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS FAST Common Stock Nasdaq Global Select US USD 20. Aug 1987
DB FAS Common Stock Deutsche Boerse AG DE EUR 20. Aug 1987
LSE 0IKW Common Stock London Stock Exchange GB USD 20. Aug 1987
WBAG FAST Common Stock Wiener Boerse AG AT EUR 20. Aug 1987
BMV FAST * Common Stock Bolsa Mexicana de Valores MX MXN 20. Aug 1987
BOVESPA FASL34 BDR EACH REP 1 COM USD0.01 Bolsa de Valores de Sao Paulo BR BRL 13. May 2019
Number of employees
Current staff
Staff numbers
21,938
Fastenal employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/04 23:37
End of day share price update: 2019/12/04 00:00
Last estimates confirmation: 2019/12/04
Last earnings filing: 2019/10/16
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.