Fastenal (FAST) FY2017 results: revenue $4.4 billion, up 10.8% on the year
Fastenal Co. (FAST) reported revenue of $4.4 billion for fiscal 2017, the year ended 31 December 2017, up 10.8% on the year before. Net income was $579 million, up 15.8%, and diluted earnings per share $0.50. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2019.
Revenue
$4.4 billion
+10.8% on the year
FY2010FY2017
Operating margin
20.1%
20.1% a year earlier
FY2010FY2017
Net income
$579 million
+15.8% on the year
FY2010FY2017
Diluted EPS
$0.50
+16.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
4,390
3,962
3,869
+10.8%
Cost of revenue
2,227
1,997
1,920
+11.5%
Gross profit
2,164
1,965
1,949
+10.1%
Gross margin
49.3%
49.6%
50.4%
Selling, general and administrative
1,283
1,169
1,122
+9.7%
Operating income
882
796
829
+10.8%
Operating margin
20.1%
20.1%
21.4%
Interest expense
9.1
6.5
3.1
+39.9%
Pre-tax income
873
790
826
+10.6%
Income tax
294
290
310
+1.5%
Effective tax rate
33.7%
36.8%
37.5%
Net income
579
499
516
+15.8%
Net margin
13.2%
12.6%
13.3%
Diluted EPS
$0.50
$0.43
$0.44
+16.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
585
520
550
+12.6%
Capital expenditure
120
189
155
-36.7%
Free cash flow
465
330
395
+40.8%
Free cash flow margin
10.6%
8.3%
10.2%
Cash from investing
-179
-188
-181
Cash from financing
-407
-347
-341
Depreciation and amortisation
127
104
86.6
+22.4%
Share-based compensation
5.2
4.1
5.8
+26.8%
Buybacks
82.6
59.4
293
+39.0%
Dividends paid
369
347
327
+6.5%
Dividend per share
$0.32
$0.30
$0.28
+6.7%
Diluted shares, weighted
1,153m
1,157m
1,168m
-0.3%
Shares outstanding at period end
1,150m
1,157m
1,158m
-0.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,097
1,933
1,801
+8.5%
Debt
415
390
365
+6.4%
Other liabilities
399
346
366
+15.3%
Total liabilities and equity
2,910
2,669
2,532
+9.1%
Fixed assets
894
900
819
-0.7%
Cash and equivalents
117
113
129
+3.7%
Receivables
608
500
468
+21.6%
Inventory
1,093
993
913
+10.1%
Other assets
199
164
203
+21.7%
Total assets
2,910
2,669
2,532
+9.1%
10-K for the year ended 31 December 2017, filed 6 February 2019: the filing.