Fastenal (FAST) FY2011 results: revenue $2.8 billion, up 21.9% on the year
Fastenal Co. (FAST) reported revenue of $2.8 billion for fiscal 2011, the year ended 31 December 2011, up 21.9% on the year before. Net income was $358 million, up 34.9%, and diluted earnings per share $0.30. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2012.
Revenue
$2.8 billion
+21.9% on the year
FY2007FY2011
Operating margin
20.8%
18.9% a year earlier
FY2007FY2011
Net income
$358 million
+34.9% on the year
FY2007FY2011
Diluted EPS
$0.30
+34.4% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
2,767
2,269
1,930
+21.9%
Cost of revenue
1,333
1,095
947
+21.7%
Gross profit
1,434
1,175
983
+22.1%
Gross margin
51.8%
51.8%
50.9%
Selling, general and administrative
859
745
687
+15.3%
Operating income
575
430
296
+33.7%
Operating margin
20.8%
18.9%
15.3%
Interest expense
0.0
n/a
n/a
Pre-tax income
575
431
297
+33.5%
Income tax
217
165
113
+31.4%
Effective tax rate
37.8%
38.4%
38.0%
Net income
358
265
184
+34.9%
Net margin
12.9%
11.7%
9.6%
Diluted EPS
$0.30
$0.23
$0.15
+34.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
268
240
306
+11.6%
Capital expenditure
120
73.6
52.5
+63.1%
Free cash flow
148
167
254
-11.1%
Free cash flow margin
5.4%
7.4%
13.1%
Cash from investing
-112
-80.0
-81.7
Cash from financing
-182
-183
-148
Depreciation and amortisation
44.7
40.8
40.1
+9.7%
Share-based compensation
4.0
4.0
3.9
+0.5%
Buybacks
0.0
0.0
41.1
Dividends paid
192
183
107
+4.9%
Dividend per share
$0.16
$0.31
$0.18
-47.6%
Diluted shares, weighted
1,183m
590m
593m
+100.7%
Shares outstanding at period end
1,181m
590m
590m
+100.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,459
1,283
1,191
+13.8%
Other liabilities
226
186
137
+21.6%
Total liabilities and equity
1,685
1,468
1,327
+14.8%
Fixed assets
436
363
335
+19.9%
Investments
27.2
31.2
30.6
-13.0%
Cash and equivalents
118
144
165
-18.1%
Receivables
339
270
214
+25.3%
Inventory
646
557
508
+15.9%
Other assets
120
102
74.3
+16.9%
Total assets
1,685
1,468
1,327
+14.8%
10-K for the year ended 31 December 2011, filed 9 February 2012: the filing.