Fastenal Company (FAST) Stock Analysis & Winston Score

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, 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, which are used in manufactured products and construction projects, as well as in the maintenan

Winston Score History

Politician Trades

7 trades / 12mo

5 Congressional buys and 2 sells on FAST in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.4% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+15.4% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

0.3%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$309M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Fastenal Company is a rare growth stock that's already generating positive cash flow while growing at 12%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.3% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 1.15B (2021) → 1.15B (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

44.6%

Healthy — 44.6% gross margin

Operating Margin

20.3%

Excellent — 20.3% operating margin

ROCE

10.9%

Below par — 10.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+10.9%

Steady sales growth (10.9% YoY)

EPS YoY

+12.9%

Earnings growing (12.9% YoY)

Healthy double-digit earnings growth — what compounders look like.

EPS Consistency

8/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion

109%

Turns 109% of profit into real cash

FCF Margin

13.8%

Converts sales into free cash efficiently (13.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.03

Conservative — low debt load (0.03)

Interest Cover

438.33x

Comfortably covers interest (438.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

39.9x

Pricey — P/E 39.9

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+5.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (39.9 → 34.5)

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Dividends

Dividend Yield

1.95%

Small dividend — 1.95% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

-44.2%

Dividend cut (-44.2% YoY) — warning sign

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