greeksoup/ stock research
Stock research / United States / FAST / FY2021

Fastenal (FAST) FY2021 results: revenue $6.0 billion, up 6.4% on the year

Fastenal Co. (FAST) reported revenue of $6.0 billion for fiscal 2021, the year ended 31 December 2021, up 6.4% on the year before. Net income was $925 million, up 7.7%, and diluted earnings per share $0.80. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2022.

Revenue
$6.0 billion
+6.4% on the year
FY2014FY2021
Operating margin
20.3%
20.2% a year earlier
FY2014FY2021
Net income
$925 million
+7.7% on the year
FY2014FY2021
Diluted EPS
$0.80
+7.4% on the year
FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ millionFY2021FY2020FY2019On the yearLast 8 years
Revenue6,0115,6475,334+6.4%
Cost of revenue3,2343,0802,818+5.0%
Gross profit2,7772,5682,515+8.2%
Gross margin46.2%45.5%47.2%
Selling, general and administrative1,5601,4271,459+9.3%
Operating income1,2171,1421,057+6.6%
Operating margin20.3%20.2%19.8%
Interest expense9.79.713.90.0%
Pre-tax income1,2081,1331,044+6.6%
Income tax283274253+3.4%
Effective tax rate23.4%24.2%24.2%
Net income925859791+7.7%
Net margin15.4%15.2%14.8%
Diluted EPS$0.80$0.74$0.69+7.4%
$ 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

$ millionFY2021FY2020FY2019On the yearLast 8 years
Operating cash flow7701,102843-30.1%
Capital expenditure157168246-6.8%
Free cash flow614934596-34.3%
Free cash flow margin10.2%16.5%11.2%
Cash from investing-148-282-240
Cash from financing-627-754-595
Depreciation and amortisation171162149+5.1%
Share-based compensation5.65.75.7-1.8%
Buybacks0.052.00.0
Dividends paid644803499-19.9%
Dividend per share$0.56$0.70$0.43-20.0%
Diluted shares, weighted1,154m1,151m1,149m+0.3%
Shares outstanding at period end1,151m1,148m1,148m+0.2%

Balance sheet

$ millionFY2021FY2020FY2019On the yearLast 8 years
Shareholders' equity3,0422,7332,666+11.3%
Debt390405345-3.7%
Operating lease liabilities156152148+3.0%
Other liabilities711675641+5.3%
Total liabilities and equity4,2993,9653,800+8.4%
Fixed assets1,0191,0311,023-1.1%
Cash and equivalents236246175-3.9%
Receivables900769742+17.0%
Inventory1,5241,3381,366+13.9%
Other assets620581494+6.6%
Total assets4,2993,9653,800+8.4%

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