Fastenal (FAST) FY2014 results: revenue $3.7 billion, up 12.2% on the year
Fastenal Co. (FAST) reported revenue of $3.7 billion for fiscal 2014, the year ended 31 December 2014, up 12.2% on the year before. Net income was $494 million, up 10.1%, and diluted earnings per share $0.41. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2015.
Revenue
$3.7 billion
+12.2% on the year
FY2007FY2014
Operating margin
21.1%
21.4% a year earlier
FY2007FY2014
Net income
$494 million
+10.1% on the year
FY2007FY2014
Diluted EPS
$0.41
+9.9% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
3,734
3,326
3,134
+12.2%
Cost of revenue
1,836
1,607
1,519
+14.3%
Gross profit
1,897
1,719
1,615
+10.3%
Gross margin
50.8%
51.7%
51.5%
Selling, general and administrative
1,111
1,007
941
+10.3%
Operating income
788
713
674
+10.5%
Operating margin
21.1%
21.4%
21.5%
Interest expense
0.9
0.1
0.0
+709.7%
Pre-tax income
787
713
674
+10.4%
Income tax
293
265
254
+10.7%
Effective tax rate
37.2%
37.1%
37.6%
Net income
494
449
421
+10.1%
Net margin
13.2%
13.5%
13.4%
Diluted EPS
$0.41
$0.38
$0.35
+9.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
499
416
396
+20.0%
Capital expenditure
189
207
138
-8.3%
Free cash flow
310
210
258
+47.9%
Free cash flow margin
8.3%
6.3%
8.2%
Cash from investing
-189
-202
-107
Cash from financing
-250
-234
-328
Depreciation and amortisation
72.7
64.2
54.1
+13.2%
Share-based compensation
7.0
5.4
4.8
+30.4%
Buybacks
52.9
9.1
0.0
+483.1%
Dividends paid
297
237
367
+24.9%
Dividend per share
$0.25
$0.20
$0.31
+25.0%
Diluted shares, weighted
1,189m
1,191m
1,189m
-0.1%
Shares outstanding at period end
1,183m
1,187m
1,186m
-0.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,915
1,773
1,560
+8.0%
Debt
90.0
0.0
0.0
Other liabilities
354
303
255
+16.8%
Total liabilities and equity
2,359
2,076
1,816
+13.6%
Fixed assets
764
655
516
+16.7%
Investments
0.0
0.5
0.4
Cash and equivalents
114
58.5
79.6
+95.7%
Receivables
462
414
372
+11.5%
Inventory
869
784
715
+10.9%
Other assets
149
164
132
-8.7%
Total assets
2,359
2,076
1,816
+13.6%
10-K for the year ended 31 December 2014, filed 5 February 2015: the filing.