Fastenal (FAST) FY2019 results: revenue $5.3 billion, up 7.4% on the year
Fastenal Co. (FAST) reported revenue of $5.3 billion for fiscal 2019, the year ended 31 December 2019, up 7.4% on the year before. Net income was $791 million, up 5.2%, and diluted earnings per share $0.69. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2020.
Revenue
$5.3 billion
+7.4% on the year
FY2012FY2019
Operating margin
19.8%
20.1% a year earlier
FY2012FY2019
Net income
$791 million
+5.2% on the year
FY2012FY2019
Diluted EPS
$0.69
+5.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,334
4,965
4,390
+7.4%
Cost of revenue
2,818
2,566
2,227
+9.8%
Gross profit
2,515
2,399
2,164
+4.9%
Gross margin
47.2%
48.3%
49.3%
Selling, general and administrative
1,459
1,400
1,283
+4.2%
Operating income
1,057
999
882
+5.8%
Operating margin
19.8%
20.1%
20.1%
Interest expense
13.9
12.6
9.1
+10.3%
Pre-tax income
1,044
987
873
+5.7%
Income tax
253
235
294
+7.5%
Effective tax rate
24.2%
23.8%
33.7%
Net income
791
752
579
+5.2%
Net margin
14.8%
15.1%
13.2%
Diluted EPS
$0.69
$0.66
$0.50
+5.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
843
674
585
+25.0%
Capital expenditure
246
176
120
+39.8%
Free cash flow
596
498
465
+19.8%
Free cash flow margin
11.2%
10.0%
10.6%
Cash from investing
-240
-174
-179
Cash from financing
-595
-446
-407
Depreciation and amortisation
149
138
127
+7.6%
Share-based compensation
5.7
5.1
5.2
+11.8%
Buybacks
0.0
103
82.6
Dividends paid
499
442
369
+12.8%
Dividend per share
$0.43
$0.39
$0.32
+13.0%
Diluted shares, weighted
1,149m
1,149m
1,153m
+0.0%
Shares outstanding at period end
1,148m
1,144m
1,150m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,666
2,303
2,097
+15.8%
Debt
345
500
415
-31.0%
Operating lease liabilities
148
0.0
n/a
Other liabilities
641
519
399
+23.6%
Total liabilities and equity
3,800
3,322
2,910
+14.4%
Fixed assets
1,023
925
894
+10.6%
Cash and equivalents
175
167
117
+4.6%
Receivables
742
714
608
+3.8%
Inventory
1,366
1,279
1,093
+6.9%
Other assets
494
236
199
+108.7%
Total assets
3,800
3,322
2,910
+14.4%
10-K for the year ended 31 December 2019, filed 6 February 2020: the filing.