Fastenal (FAST) FY2013 results: revenue $3.3 billion, up 6.1% on the year
Fastenal Co. (FAST) reported revenue of $3.3 billion for fiscal 2013, the year ended 31 December 2013, up 6.1% on the year before. Net income was $449 million, up 6.7%, and diluted earnings per share $0.38. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2014.
Revenue
$3.3 billion
+6.1% on the year
FY2007FY2013
Operating margin
21.4%
21.5% a year earlier
FY2007FY2013
Net income
$449 million
+6.7% on the year
FY2007FY2013
Diluted EPS
$0.38
+6.3% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
3,326
3,134
2,767
+6.1%
Cost of revenue
1,607
1,519
1,333
+5.8%
Gross profit
1,719
1,615
1,434
+6.5%
Gross margin
51.7%
51.5%
51.8%
Selling, general and administrative
1,007
941
859
+7.0%
Operating income
713
674
575
+5.8%
Operating margin
21.4%
21.5%
20.8%
Interest expense
0.1
0.0
0.0
Pre-tax income
713
674
575
+5.8%
Income tax
265
254
217
+4.4%
Effective tax rate
37.1%
37.6%
37.8%
Net income
449
421
358
+6.7%
Net margin
13.5%
13.4%
12.9%
Diluted EPS
$0.38
$0.35
$0.30
+6.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
416
396
268
+5.0%
Capital expenditure
207
138
120
+49.2%
Free cash flow
210
258
148
-18.7%
Free cash flow margin
6.3%
8.2%
5.4%
Cash from investing
-202
-107
-112
Cash from financing
-234
-328
-182
Depreciation and amortisation
64.2
54.1
44.7
+18.8%
Share-based compensation
5.4
4.8
4.0
+12.5%
Buybacks
9.1
0.0
0.0
Dividends paid
237
367
192
-35.4%
Dividend per share
$0.20
$0.31
$0.16
-35.5%
Diluted shares, weighted
1,191m
1,189m
1,183m
+0.2%
Shares outstanding at period end
1,187m
1,186m
1,181m
+0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,773
1,560
1,459
+13.6%
Debt
0.0
0.0
n/a
Other liabilities
303
255
226
+18.6%
Total liabilities and equity
2,076
1,816
1,685
+14.3%
Fixed assets
655
516
436
+26.8%
Investments
0.5
0.4
27.2
+27.4%
Cash and equivalents
58.5
79.6
118
-26.5%
Receivables
414
372
339
+11.3%
Inventory
784
715
646
+9.6%
Other assets
164
132
120
+24.0%
Total assets
2,076
1,816
1,685
+14.3%
10-K for the year ended 31 December 2013, filed 6 February 2014: the filing.