Fastenal Co.
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+ FollowMarket Cap$59.72B
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Earnings Call Q3 2026
October 14, 2026 - AI Summary
Strong quarter: share-led growth + faster earnings growth
- Net sales $2.46B, up 15.5% YoY (+$330M).
- Operating margin 21.5%, up 90 bps; Operating income +$90M (described as the largest single-quarter YoY increase in Fastenal history).
- ROIC 32.5%, up 230 bps.
- Management emphasized the quarter was mainly driven by market share gains via key account strategy + new contract wins, not just macro.
Demand backdrop improving, but growth still outpacing the industrial market
- Industrial conditions improved; field feedback matched results.
- U.S. manufacturing PMI averaged ~55; industrial production for key end markets stayed positive.
- Daily sales growth 15.5% (up from 14.7% in Q2).
- Growth leadership:
- Heavy manufacturing ~45% of sales, with daily sales ~20% growth.
- Data centers and other high-demand markets called out as strong.
- Direct materials up ~19% vs indirect ~14% (reflects stronger production activity, large customer signings, availability, and pricing actions).
Margins: gross margin down YoY, but operating leverage and “run-rate” clarity were key
- Gross margin about 45%, down 40 bps YoY (but +20 bps vs Q2).
- Management attributed the gross margin gap to:
- Mix (~50 bps headwind) from growth with larger customers (lower gross margin but strong operating economics and attractive incremental profit).
- Price/cost (~30 bps headwind)—but improving ~10 bps sequentially.
- Favorable items (~40 bps) largely from direct sourcing savings, supplier rebates, tariff refunds; management cautioned not all is repeatable (timing).
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Share Statistics
| Market cap | $59.72 Billion |
|---|---|
| Enterprise Value | $60.20 Billion |
| Annual dividend | $1.00 |
| Dividend yield | 1.93% |
| Earnings per Share | $1.1 |
| Beta | 0.69 |
| Outstanding Shares | 1,147,200,000 |
Return
| Return on Equity | 34.18% |
|---|---|
| Return on Assets | 25.81% |
| Return on Invested Capital | 41.27% |
Valuation & Multiples
| P/E Ratio | 41.86 |
|---|---|
| PEG | 212.48 |
| Price to Sales | 7.6 |
| Price to Book Ratio | 17.74 |
| Enterprise Value to Revenue | 6.63 |
| Enterprise Value to EBIT | 32.27 |
| Enterprise Value to Net Income | 42 |
| Total Debt to Enterprise | 0.01 |
| Debt to Equity | 0.17 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 14, 2026
EPS Estimate
$0.34
Consensus analyst estimateRevenue Estimate
$2.44 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 19, 2027
EPS Estimate
$0.31
Consensus analyst estimateRevenue Estimate
$2.33 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 39.70% |
|---|---|
| Total Calls | 100▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.48%▼ 83.69% |
|---|---|
| Total Invested | $3.11B▼ 93.66% |
| Investors Holding | 580▼ 929.00% |
About Fastenal Co.
24,489 employees
CEO: Daniel Florness
Fastenal Company, along with its various operating units, specializes in the wholesale distribution of essential industrial and construction materials. Its operations span North America, encompassing the United States, Canada, and Mexico...