Fastenal (FAST) FY2020 results: revenue $5.6 billion, up 5.9% on the year
Fastenal Co. (FAST) reported revenue of $5.6 billion for fiscal 2020, the year ended 31 December 2020, up 5.9% on the year before. Net income was $859 million, up 8.6%, and diluted earnings per share $0.74. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2021.
Revenue
$5.6 billion
+5.9% on the year
FY2013FY2020
Operating margin
20.2%
19.8% a year earlier
FY2013FY2020
Net income
$859 million
+8.6% on the year
FY2013FY2020
Diluted EPS
$0.74
+8.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,647
5,334
4,965
+5.9%
Cost of revenue
3,080
2,818
2,566
+9.3%
Gross profit
2,568
2,515
2,399
+2.1%
Gross margin
45.5%
47.2%
48.3%
Selling, general and administrative
1,427
1,459
1,400
-2.2%
Operating income
1,142
1,057
999
+8.0%
Operating margin
20.2%
19.8%
20.1%
Interest expense
9.7
13.9
12.6
-30.2%
Pre-tax income
1,133
1,044
987
+8.5%
Income tax
274
253
235
+8.2%
Effective tax rate
24.2%
24.2%
23.8%
Net income
859
791
752
+8.6%
Net margin
15.2%
14.8%
15.1%
Diluted EPS
$0.74
$0.69
$0.66
+8.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,102
843
674
+30.7%
Capital expenditure
168
246
176
-31.8%
Free cash flow
934
596
498
+56.6%
Free cash flow margin
16.5%
11.2%
10.0%
Cash from investing
-282
-240
-174
Cash from financing
-754
-595
-446
Depreciation and amortisation
162
149
138
+9.2%
Share-based compensation
5.7
5.7
5.1
0.0%
Buybacks
52.0
0.0
103
Dividends paid
803
499
442
+61.1%
Dividend per share
$0.70
$0.43
$0.39
+60.9%
Diluted shares, weighted
1,151m
1,149m
1,149m
+0.2%
Shares outstanding at period end
1,148m
1,148m
1,144m
+0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,733
2,666
2,303
+2.5%
Debt
405
345
500
+17.4%
Operating lease liabilities
152
148
0.0
+2.2%
Other liabilities
675
641
519
+5.3%
Total liabilities and equity
3,965
3,800
3,322
+4.3%
Fixed assets
1,031
1,023
925
+0.7%
Cash and equivalents
246
175
167
+40.5%
Receivables
769
742
714
+3.7%
Inventory
1,338
1,366
1,279
-2.1%
Other assets
581
494
236
+17.8%
Total assets
3,965
3,800
3,322
+4.3%
10-K for the year ended 31 December 2020, filed 8 February 2021: the filing.