---
title: Fastenal (FAST) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/fast
ticker: FAST
as_of: 2026-10-17
sector: Industrials
industry: Industrial - Distribution
---
# Fastenal (FAST)

Fastenal (FAST) closed at $51.02 on Oct 16, 2026, overvalued by 94% vs its model value of $26.28 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $51.02 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $26.28 |
| Price vs model | overvalued by 94% vs model |
| Range of that model | $16.73 – $66.52 |
| Market value | $58.5B |
| P/E (fiscal 2025) | 46.8 |
| Net margin (fiscal 2025) | 15.3% |
| Free cash flow (fiscal 2025) | $1.1B |
| Dividend yield (trailing twelve months) | 1.88% |
| Beta | 0.69 |
| Cost of capital (WACC) | 8.36% |
| Business classification | Profitable Growth (Low/slowing growth (~6% recent), Moderate margins (15% net margin), Pays dividends, Moderately volatile earnings) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.88% |
| Dividends per share, last 12 months | $0.96 |
| Dividends / free cash flow (fiscal 2025) | 95.6% |
| Raised | 14 years in a row |
| Growth over 5 years | 11.4% a year |
| Latest payment | $0.26, ex-date Jul 28, 2026, paid Aug 25, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Oct 25, 2021 | $0.56 |
| To Oct 26, 2022 | $0.62 |
| To Oct 25, 2023 | $0.70 |
| To Jul 26, 2024 | $0.78 |
| To Jul 29, 2025 | $0.85 |
| Trailing twelve months (to Jul 28, 2026) | $0.96 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $26.28 | $16.73 | $66.52 |
| DCF · Perpetuity growth · 10y | cross check | $28.41 | $18.46 | $69.75 |
| DCF · EBITDA exit · 5y | cross check | $30.98 | $22.34 | $41.15 |
| DCF · EBITDA exit · 10y | cross check | $32.45 | $22.90 | $45.16 |
| P/E · peers | cross check | $29.14 | $26.24 | $38.71 |
| P/E · own history | cross check | $42.08 | $37.16 | $48.53 |
| PEG | sanity check | $15.63 | $15.63 | $15.63 |
| EV/EBITDA · peers | cross check | $29.15 | $25.73 | $38.02 |
| EV/Revenue · peers | cross check | $14.71 | $9.07 | $19.41 |
| Earnings power value | cross check | $12.20 | $10.37 | $14.84 |
| Dividend discount | cross check | $21.47 | $13.93 | $40.00 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 6 open-market sales ($2.5M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Aug 13, 2026 | Papenfuss Donnalee Kathleen | EVP-Strategy and Communication | Option/RSU exercise | 1,364 | $18,755 |
| Aug 13, 2026 | Papenfuss Donnalee Kathleen | EVP-Strategy and Communication | Open-market sell | 1,364 | $70,132.1 |
| Aug 13, 2026 | Papenfuss Donnalee Kathleen | EVP-Strategy and Communication | Option/RSU exercise | 7,894 | $149,986 |
| Aug 13, 2026 | Papenfuss Donnalee Kathleen | EVP-Strategy and Communication | Open-market sell | 7,894 | $405,626.1 |
| Aug 13, 2026 | Papenfuss Donnalee Kathleen | EVP-Strategy and Communication | Option/RSU exercise | 1,364 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 14, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/815556/000081555626000046/fast-20261014.htm |
| Jul 16, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/815556/000081555626000043/fast-20251219.htm |
| Jul 16, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/815556/000081555626000041/fast-20260630.htm |
| Jul 16, 2026 | S-8 | Employee stock plan registration | https://www.sec.gov/Archives/edgar/data/815556/000081555626000039/forms-8.htm |
| Jul 14, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/815556/000081555626000037/fast-20260714.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Mairs & Power | 2026-06-30 | 3,870,891 | $185.9M |
| William Von Mueffling | 2026-06-30 | 376,044 | $18.1M |

2 tracked managers in all.

## About

Fastenal Company, along with its associated entities, operates as a global wholesale supplier of industrial and construction materials, with significant operations throughout North America, including the United States, Canada, and Mexico, and other international markets. Branded as Fastenal, the company offers a comprehensive range of fasteners, such as threaded bolts, nuts, screws, studs, and washers, which are vital for manufacturing processes, building developments, and equipment servicing. Beyond fasteners, its product catalog extends to diverse hardware and miscellaneous items like pins, machinery keys, concrete anchors, metal framing systems, wire ropes, strut products, and rivets, along with their related accessories. Fastenal serves a wide array of clients, including original equipment manufacturers, maintenance, repair, and operations departments within the manufacturing sector,…

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Source: https://sweetvaluelab.com/stocks/fast (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.