Company file · FAST
Fastenal
Non-North America was Fastenal's fastest-growing region in FY2025, up 14.4%
Revenue rose 8.7% to $8.2B in FY2025, from $7.5B in FY2024. Net income rose 9.4% to $1.3B. United States was the largest region, at 83% of revenue.
Key facts
Fastenal (Nasdaq: FAST) closed fiscal 2025 on Dec 31, 2025 with revenue of $8.2B, up 8.7% from a year before; net income came to $1.3B, up 9.4%. Its newest quarterly report covers the three months to Sep 30, 2026: revenue of $2.5B, up 15.5% on the same stretch of the prior year, and net income of $402M. Broken down by region, United States led with 83% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 5, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 19, 2026).
Source: 10-K FY2025, filed Feb 5, 2026
Source: 10-Q filed Apr 16, 2026 · 10-Q filed Jul 16, 2026 · 10-Q filed Oct 19, 2026
How it makes money
By region, FY2025
- LineAmountSharevs FY2024
- United States$6.8B83%+8.7%
- Canada and Mexico$1.1B14%+7.2%
- Non-North America$271M3%+14.4%
Source: 10-K FY2025, XBRL breakdown
By region in FY2025: United States (83%), Canada and Mexico (14%) and Non-North America (3%), as shares of total revenue. Total revenue was $8.2B.
Source: 10-K FY2025
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Fastenal 10-Q for the quarter ended Sep 30, 2026, filed Oct 19, 2026
By region
Source: Fastenal 10-Q for the quarter ended Sep 30, 2026, filed Oct 19, 2026
The bull case and the bear case
The bull case
- Revenue rose 8.7% in FY2025 to $8.2B, from $7.5B a year earlier. 10-K, FY2025
- Net income rose 9.4% in FY2025 to $1.3B, from $1.2B. 10-K, FY2025
- Operating cash flow rose 10.4% in FY2025 to $1.3B. 10-K, FY2025
- Total debt fell 37.5% in FY2025 to $125M. 10-K, FY2025
The bear case
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include economic cycles; costs and supply; trade and tariffs. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Fastenal is in the trading companies & distributors industry, part of the industrials sector. The SEC files it under Retail-Building Materials, Hardware, Garden Supply.
The full description of Fastenal's business is in Item 1 of its 10-K, linked below. This page shows its revenue by region.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the trading companies & distributors industry. They are not a summary of Fastenal’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Economic cyclesDemand for equipment and services rises and falls with business investment.
- Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
- Trade and tariffsTariffs and trade policy affect costs and sales.
- Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
- Regulation and liabilitySafety, environmental and product-liability rules can raise costs.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $7.3B | $7.5B | $8.2B |
| Net income | $1.2B | $1.2B | $1.3B |
| Operating cash flow | $1.4B | $1.2B | $1.3B |
| Cash & equivalents (year end) | $221M | $256M | $277M |
| Total debt (year end) | $260M | $200M | $125M |
| Diluted shares | 1.15B | 1.15B | 1.15B |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: The current part of long-term debt plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Remaining performance obligations (RPO)
- Tax withholding on share awards
- GAAP vs. non-GAAP earnings
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Oct 19, 2026 | Sep 30, 2026 |
| 10-Q | Jul 16, 2026 | Jun 30, 2026 |
| 10-Q | Apr 16, 2026 | Mar 31, 2026 |
| DEF 14A | Feb 25, 2026 | Dec 31, 2025 |
| 10-K | Feb 5, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Fastenal
How does Fastenal make money?
Fiscal 2025 revenue: $8.2B. By region in FY2025: United States (83%), Canada and Mexico (14%) and Non-North America (3%), as shares of total revenue. Total revenue was $8.2B. Source: 10-K for fiscal 2025, filed Feb 5, 2026.
What was Fastenal's revenue in fiscal 2025?
$8.2B, up 8.7% from fiscal 2024 ($7.5B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $7.3B. Source: 10-K for fiscal 2025, filed Feb 5, 2026.
Is Fastenal profitable?
Net income was $1.3B in fiscal 2025 (up 9.4%; fiscal 2024 was $1.2B). That counts as a GAAP profit. The latest quarter, ended Sep 30, 2026: net income was $402M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 5, 2026.
What did Fastenal report in its latest quarterly filing?
For the three months to Sep 30, 2026: revenue $2.5B (up 15.5% from $2.1B) and net income $402M (up 19.7% from $336M). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 19, 2026.
How much cash and debt does Fastenal have?
As of Sep 30, 2026: $212M of cash and cash equivalents, $100M of total debt. Total debt here is the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Oct 19, 2026.
What are the main risks Fastenal faces?
Fastenal's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 5, 2026. Risks that are common among companies in the trading companies & distributors industry include Economic cycles; costs and supply; trade and tariffs; contracts and backlog; regulation and liability. The first: Demand for equipment and services rises and falls with business investment. Source: 10-K, Item 1A Risk Factors.
Where do these Fastenal numbers come from?
The 10-K filed Feb 5, 2026 (fiscal 2025) and the 10-Q filed Oct 19, 2026 (quarter ended Sep 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Fastenal
- Millennium Management: 2,796,417 shares, reported value $134.3M at Jun 30, 2026 (+263.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 1,973,383 shares, reported value $94.8M at Jun 30, 2026 (+86.1% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Baillie Gifford: 1,757,369 shares, reported value $87.0M at Sep 30, 2026 (−1.5% in shares since the filing for Jun 30, 2026). Form 13F filed Nov 9, 2026.
- Two Sigma Investments: 105,267 shares, reported value $5.1M at Jun 30, 2026 (+83.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Renaissance Technologies: 59,176 shares, reported value $2.8M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 13, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in FAST
- The editor holds no position in Fastenal (FAST). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell FAST from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 3, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold FAST, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| FastenalFAST | FY2025 | $8.2B | +8.7% | $1.3B |
| United RentalsURI | FY2025 | $16.1B | +4.9% | $2.5B |
| CaterpillarCAT | FY2025 | $67.6B | +4.3% | $8.9B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.