Industrials · Trading Companies & Distributors · US stock · price as of 16 Oct 2026
Key indicators
Price
$51.02
52-week range
$38.34 – $52.92
Market cap
$58.7B
P/E (trailing)
43.4×
EV / EBITDA
33.0×
Free-cash-flow yield
2.0%
Dividend yield
1.9%
Revenue (last 12 months)
$8.7B
Revenue growth (3y a year)
5.5%
Operating margin
20.3%
Return on invested capital
33.9%
Net debt / EBITDA
0.0×
Fair value
Blended fair value$35.18 range $33 – $38
Versus priceOvervalued−31% to fair value
Peer multiples
$32.80
Fundamentals-adjusted multiple
$33.89
10-year DCF (market-scaled)
$38.84
Earnings power value (floor, not blended)
$14.02
Model uncertainty
Medium
X-Ray Score
54/ 100 · High confidence · ahead of 59% of sector peers
Valuation15
Growth48
Profitability74
Financial health88
Dividends42
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Fastenal distributes industrial and construction supplies, especially fasteners, tools, safety products and other maintenance items. It sells to manufacturers, contractors and other businesses through a network of local branches and through on-site locations and vending devices placed at customers' facilities. Revenue comes from product sales, and its model depends on inventory availability, close customer relationships and efficient delivery.
Over the last twelve months, $8.7 billion in revenue was reported. The three-year revenue growth rate is 5.5% a year. Profitability shows an operating margin of 20.3% and a return on invested capital of 34%. Net debt to EBITDA is 0.0 times, so cash and debt are roughly balanced. Shareholders receive a dividend, yielding 1.9%.
StocksXray gives Fastenal Co an X-Ray Score of 54 out of 100 (high confidence), ahead of 59% of the S&P 500 stocks in its sector. Its strongest lens is financial health (88) and its weakest is valuation (15).
Our fair value blend is $35.18 (range $33.20 to $37.76). At $51.02 the stock trades 45% above that blend, so the label is "Overvalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Fastenal Co (FAST)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$28.54
$21.59
$30.51
$34.64
$39.48
$51.02
Market cap
$16.5B
$12.4B
$35.0B
$39.8B
$45.4B
$58.7B
P/E
17.8×
11.4×
30.2×
34.6×
36.2×
43.4×
EV / revenue
2.8×
1.8×
4.8×
5.3×
5.5×
6.7×
EV / EBITDA
13.7×
7.8×
20.5×
23.6×
24.7×
33.0×
Price / free cash flow
26.8×
16.2×
27.8×
42.0×
43.2×
50.8×
Free-cash-flow yield
3.7%
6.2%
3.6%
2.4%
2.3%
2.0%
Price / book
5.4×
3.9×
10.4×
11.0×
11.5×
14.4×
Dividend yield
3.92%
5.74%
2.92%
2.25%
2.22%
1.88%
Fundamentals checklist ● 9 Good · ● 1 Average · ● 6 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−0.9%Bad
Free-cash-flow yield2.0%Bad
Risk models
Altman Z score11.7×Good
Piotroski F-Score7 of 9Good
Growth
EPS growth (3y)−16.8%Bad
Free-cash-flow growth (3y)11.0%Bad
Revenue growth (3y)5.5%Average
Growth consistency100%Good
Balance sheet
Current ratio4.2×Good
Net debt / EBITDA0.0×Good
Interest coverno interest costGood
Valuation
Fair value vs price0.7×Bad
EBIT / EV yield3.0%Bad
Profitability
Return on invested capital33.9%Good
Operating margin20.3%Good
Gross profitability73.9%Good
XStocksXray
Fastenal Co (FAST)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
6,011
6,981
7,347
7,546
8,201
8,749
Gross profit
2,777
3,216
3,355
3,402
3,691
3,911
Operating income
1,217
1,454
1,529
1,510
1,656
1,775
Net income
925
1,087
1,155
1,151
1,258
1,352
Diluted EPS ($)
1.60
1.89
1.01
1.00
1.09
1.18
Free cash flow
614
767
1,260
947
1,051
1,156
Gross margin
46.2%
46.1%
45.7%
45.1%
45.0%
44.7%
Operating margin
20.3%
20.8%
20.8%
20.0%
20.2%
20.3%
Net margin
15.4%
15.6%
15.7%
15.2%
15.3%
15.5%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
4,299
4,549
4,463
4,698
5,053
5,294
Cash
236
230
221
256
277
205
Total debt
390
555
260
200
125
120
Equity
3,042
3,163
3,349
3,616
3,944
4,069
Dividend per share ($)
1.12
1.24
0.89
0.78
0.88
0.92
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.