Fastenal (FAST) Q4 FY2021 earnings: revenue $1.5 billion, up 12.8% on the year

Fastenal Co. (FAST) reported revenue of $1.5 billion for Q4 FY2021, the quarter ended 31 December 2021, up 12.8% on the same quarter a year earlier. Net income was $231 million, up 17.9% on the year, and diluted earnings per share $0.20. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2022.

Revenue

$1.5 billion

+12.8% on the year · -1.4% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

19.6%

19.5% a year earlier

Q1 FY2020Q4 FY2021

Net income

$231 million

+17.9% on the year · -5.1% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$0.20

+14.7% on the year · -7.1% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	1,532	1,554	1,358	-1.4%	+12.8%
Cost of revenue	819	n/a	n/a
Gross profit	713	n/a	n/a
Gross margin	46.5%	n/a	n/a
Selling, general and administrative	412	n/a	n/a
Operating income	301	318	264	-5.5%	+13.8%
Operating margin	19.6%	20.5%	19.5%
Interest expense	2.3	n/a	n/a
Pre-tax income	299	n/a	n/a
Income tax	67.4	n/a	n/a
Effective tax rate	22.6%	n/a	n/a
Net income	231	244	196	-5.1%	+17.9%
Net margin	15.1%	n/a	n/a
Diluted EPS	$0.20	$0.21	$0.17	-7.1%	+14.7%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	156	n/a	n/a
Capital expenditure	41.9	n/a	n/a
Free cash flow	114	n/a	n/a
Free cash flow margin	7.5%	n/a	n/a
Cash from investing	-41.5	n/a	n/a
Cash from financing	-129	n/a	n/a
Depreciation and amortisation	43.6	42.8	42.0	+1.9%	+3.8%
Share-based compensation	1.3	n/a	n/a
Buybacks	0.0	n/a	n/a
Dividends paid	161	n/a	n/a
Dividend per share	$0.14	n/a	n/a
Diluted shares, weighted	1,154m	1,155m	n/a	-0.0%
Shares outstanding at period end	1,151m	1,150m	1,148m	+0.1%	+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	3,042	2,965	2,733	+2.6%	+11.3%
Debt	390	365	405	+6.8%	-3.7%
Operating lease liabilities	156	n/a	n/a
Other liabilities	711	n/a	n/a
Total liabilities and equity	4,299	n/a	n/a
Fixed assets	1,019	n/a	n/a
Cash and equivalents	236	250	246	-5.7%	-3.9%
Receivables	900	n/a	n/a
Inventory	1,524	n/a	n/a
Other assets	620	n/a	n/a
Total assets	4,299	n/a	n/a

Questions

What was Fastenal's revenue in Q4 FY2021?

Fastenal (FAST) reported revenue of $1.5 billion for Q4 FY2021, the quarter ended 31 December 2021, up 12.8% on the same quarter a year earlier.

How much did Fastenal earn in Q4 FY2021?

Net income for Q4 FY2021 was $231 million, up 17.9% on the year, and diluted earnings per share $0.20.

When did Fastenal report Q4 FY2021 results?

Fastenal filed its 10-K for the year that ended with the quarter on 7 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,532	1,704	1,779	1,802	1,696	1,859	1,883	1,846	1,759	1,895	1,916	1,910	1,824	1,959	2,080	2,133	2,028	2,202	2,387	2,463
Cost of revenue	819	911	951	976	927	1,009	1,026	998	959	1,034	1,053	1,052	1,006	1,076	1,138	1,168	1,129	1,219	1,323	1,359
Gross profit	713	793	828	826	768	850	858	848	799	862	864	859	818	884	943	966	899	983	1,064	1,105
Gross margin	47%	47%	47%	46%	45%	46%	46%	46%	45%	45%	45%	45%	45%	45%	45%	45%	44%	45%	45%	45%
SG&A	412	435	444	447	435	457	463	461	446	471	477	470	473	490	507	524	514	535	562	574
Operating income	301	358	383	379	333	393	395	387	354	390	387	388	345	394	436	442	384	448	502	531
Operating margin	20%	21%	22%	21%	20%	21%	21%	21%	20%	21%	20%	20%	19%	20%	21%	21%	19%	20%	21%	22%
Interest expense	2.3	2.4	2.8	4.1	5.0	3.9	2.9	2.1	1.9	2.0	1.8	1.8	1.7	1.7	2.2	1.6	0.7	0.8	1.2	0.8
Pre-tax income	299	356	381	375	328	390	393	385	354	390	386	388	344	393	437	441	385	448	502	531
Tax rate	23%	24%	25%	24%	25%	24%	24%	23%	25%	24%	24%	23%	24%	24%	24%	24%	24%	24%	24%	24%
Net income	231	270	287	285	246	295	298	296	266	298	293	298	262	299	330	336	294	340	383	402
Net margin	15%	16%	16%	16%	14%	16%	16%	16%	15%	16%	15%	16%	14%	15%	16%	16%	14%	15%	16%	16%
Diluted EPS	$0.20	$0.23	$0.25	$0.25	$0.21	$0.26	$0.26	$0.26	$0.23	$0.26	$0.26	$0.26	$0.23	$0.26	$0.29	$0.29	$0.26	$0.30	$0.33	$0.35
Operating cash flow	156	230	151	258	302	388	302	388	354	336	258	297	283	262	279	387	368	378	266	422
Capital expenditure	41.9	35.5	47.5	48.0	42.8	33.7	55.9	46.9	36.3	50.8	56.1	59.4	60.2	55.7	69.3	60.3	60.0	58.9	64.1	74.0
Free cash flow	114	194	104	210	259	355	246	341	318	285	202	238	223	206	209	327	308	320	202	348
Buybacks	0.0	n/a	49.3	95.3	n/a	n/a	0.0	0.0	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	n/a	20.3	30.0	30.5
Dividends paid	161	178	178	178	177	200	200	200	417	223	223	223	223	247	252	252	252	276	275	298
Shares outstanding	1,151m	1,151m	1,149m	1,146m	1,142m	1,142m	1,143m	1,143m	1,144m	1,145m	1,145m	1,146m	1,147m	1,147m	1,148m	1,148m	1,148m	1,148m	1,147m	1,147m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 7 February 2022: the filing.