Fastenal (FAST) FY2018 results: revenue $5.0 billion, up 13.1% on the year
Fastenal Co. (FAST) reported revenue of $5.0 billion for fiscal 2018, the year ended 31 December 2018, up 13.1% on the year before. Net income was $752 million, up 30.0%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2019.
Revenue
$5.0 billion
+13.1% on the year
FY2011FY2018
Operating margin
20.1%
20.1% a year earlier
FY2011FY2018
Net income
$752 million
+30.0% on the year
FY2011FY2018
Diluted EPS
$0.66
+30.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
4,965
4,390
3,962
+13.1%
Cost of revenue
2,566
2,227
1,997
+15.2%
Gross profit
2,399
2,164
1,965
+10.9%
Gross margin
48.3%
49.3%
49.6%
Selling, general and administrative
1,400
1,283
1,169
+9.2%
Operating income
999
882
796
+13.3%
Operating margin
20.1%
20.1%
20.1%
Interest expense
12.6
9.1
6.5
+38.5%
Pre-tax income
987
873
790
+13.0%
Income tax
235
294
290
-20.2%
Effective tax rate
23.8%
33.7%
36.8%
Net income
752
579
499
+30.0%
Net margin
15.1%
13.2%
12.6%
Diluted EPS
$0.66
$0.50
$0.43
+30.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
674
585
520
+15.2%
Capital expenditure
176
120
189
+47.0%
Free cash flow
498
465
330
+7.0%
Free cash flow margin
10.0%
10.6%
8.3%
Cash from investing
-174
-179
-188
Cash from financing
-446
-407
-347
Depreciation and amortisation
138
127
104
+8.5%
Share-based compensation
5.1
5.2
4.1
-1.9%
Buybacks
103
82.6
59.4
+24.7%
Dividends paid
442
369
347
+19.7%
Dividend per share
$0.39
$0.32
$0.30
+20.3%
Diluted shares, weighted
1,149m
1,153m
1,157m
-0.4%
Shares outstanding at period end
1,144m
1,150m
1,157m
-0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,303
2,097
1,933
+9.8%
Debt
500
415
390
+20.5%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
519
399
346
+30.2%
Total liabilities and equity
3,322
2,910
2,669
+14.1%
Fixed assets
925
894
900
+3.5%
Cash and equivalents
167
117
113
+43.0%
Receivables
714
608
500
+17.5%
Inventory
1,279
1,093
993
+17.0%
Other assets
236
199
164
+18.7%
Total assets
3,322
2,910
2,669
+14.1%
10-K for the year ended 31 December 2018, filed 6 February 2019: the filing.