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Arphra AIPlain-English read on Fastenal Company’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $6.01B | $6.98B | $7.35B | $7.55B | $8.2B | $9.13B | $9.92B | $10.65B | $11.31B |
| Cost of revenue | $3.23B | $3.76B | $3.99B | $4.14B | $4.51B | $5.06B | $5.42B | $5.75B | $6.03B |
| Gross profit | $2.78B | $3.22B | $3.35B | $3.4B | $3.69B | $4.24B | $4.54B | $4.83B | $5.04B |
| Gross margin | +46.20% | +46.07% | +45.66% | +45.08% | +45.01% | +46.45% | +45.74% | +45.38% | +44.59% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $1.56B | $1.76B | $1.83B | $1.89B | $2.04B | $2.24B | $2.5B | $2.64B | $2.77B |
| Total operating expenses | $1.56B | $1.76B | $1.83B | $1.89B | $2.04B | $2.22B | $2.4B | $2.69B | $2.79B |
| Operating income | $1.22B | $1.45B | $1.53B | $1.51B | $1.66B | $1.87B | $2.07B | $2.12B | $2.32B |
| Operating margin | +20.25% | +20.82% | +20.81% | +20.01% | +20.19% | +20.49% | +20.86% | +19.89% | +20.53% |
| EBITDA | $1.39B | $1.63B | $1.71B | $1.69B | $1.66B | $1.98B | $2.19B | $2.27B | $2.54B |
| EBIT | $1.22B | $1.45B | $1.53B | $1.52B | $1.66B | $1.88B | $2.02B | $2.18B | $2.26B |
| Below the line | |||||||||
| Interest expense | $9.7M | $14.3M | $10.8M | $7.3M | $6.2M | $9.94M | $10.32M | $11.37M | $11.92M |
| Interest income | $100K | $700K | $4.1M | $5.4M | $5.5M | $5.87M | $6.62M | $6.84M | $7.41M |
| Other income / expense | -$9.6M | -$13.6M | -$6.7M | -$1.9M | -$700K | — | — | — | — |
| Pre-tax income | $1.21B | $1.44B | $1.52B | $1.51B | $1.66B | $1.81B | $2.06B | $2.12B | $2.29B |
| Income tax expense | $282.8M | $353.1M | $367M | $357.5M | $396.6M | $440.16M | $495.02M | $503.64M | $553.61M |
| Earnings | |||||||||
| Net income | $925M | $1.09B | $1.16B | $1.15B | $1.26B | $1.4B | $1.55B | $1.65B | $1.78B |
| Net income · continuing ops | $925M | $1.09B | $1.16B | $1.15B | $1.26B | $1.38B | $1.56B | $1.66B | $1.7B |
| Net margin | +15.39% | +15.57% | +15.72% | +15.25% | +15.35% | +15.35% | +15.59% | +15.50% | +15.71% |
| EPS · basic | $0.80 | $0.95 | $1.01 | $1.00 | $1.10 | $1.25 | $1.36 | $1.47 | $1.53 |
| EPS · diluted | $0.80 | $0.94 | $1.01 | $1.00 | $1.09 | $1.24 | $1.37 | $1.47 | $1.53 |
| EPS · low estimate | — | — | — | — | — | $1.22 | $1.33 | $1.42 | $1.48 |
| EPS · high estimate | — | — | — | — | — | $1.27 | $1.39 | $1.52 | $1.58 |
| Shares · basic | 1.15B | 1.15B | 1.14B | 1.15B | 1.15B | 1.15B | 1.14B | 1.16B | 1.16B |
| Shares · diluted | 1.15B | 1.15B | 1.15B | 1.15B | 1.15B | 1.14B | 1.15B | 1.15B | 1.15B |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 11 | 11 | 9 | 4 |
| Analysts (EPS) | — | — | — | — | — | 11 | 11 | 8 | 6 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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