Question 1

What is Fastenal's P/FCF ratio?

Accepted Answer

Fastenal (FAST) P/FCF ratio is 50.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Fastenal?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Fastenal specifically, the relevant sector benchmark is the current sector median of 24.3×.

Question 5

Is Fastenal's P/FCF ratio high or low?

Accepted Answer

Fastenal's P/FCF ratio of 50.5× is above its own 5-year average of 43.4× and above the sector median of 24.3×. That places the current reading at the 75th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Fastenal's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Fastenal (FAST) P/FCF ratio has ranged from a low of 20.3× in 2009 to a high of 984.0× in 2004. The 5-year average is 43.4× and the 5-year median is 43.0×.

Question 7

What was Fastenal's P/FCF ratio in 2025?

Accepted Answer

Fastenal (FAST) P/FCF ratio at the end of 2025 was 43.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Fastenal's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$46.1B	$1.05B	43.9×	+0.3×	Dec 31, 2025
2024	$41.2B	$947M	43.5×	+14.1×	Dec 31, 2024
2023	$37B	$1.26B	29.4×	-5.8×	Dec 31, 2023
2022	$27B	$767M	35.2×	-24.8×	Dec 31, 2022
2021	$36.9B	$614M	60.1×	+30.0×	Dec 31, 2021
2020	$28B	$934M	30.0×	-5.5×	Dec 31, 2020
2019	$21.2B	$596M	35.6×	+5.5×	Dec 31, 2019
2018	$15B	$498M	30.1×	-3.7×	Dec 31, 2018
2017	$15.7B	$465M	33.8×	-8.0×	Dec 31, 2017
2016	$13.6B	$325M	41.8×	+11.6×	Dec 31, 2016
2015	$11.8B	$392M	30.2×	-15.2×	Dec 31, 2015
2014	$14.1B	$310M	45.4×	-21.9×	Dec 31, 2014
2013	$14.1B	$210M	67.3×	+13.7×	Dec 31, 2013
2012	$13.8B	$258M	53.6×	-33.1×	Dec 31, 2012
2011	$12.9B	$148M	86.8×	+33.8×	Dec 31, 2011
2010	$8.83B	$167M	52.9×	+28.6×	Dec 31, 2010
2009	$6.16B	$254M	24.3×	-7.2×	Dec 31, 2009
2008	$5.18B	$165M	31.5×	-3.7×	Dec 31, 2008
2007	$6.06B	$172M	35.2×	-231.9×	Dec 31, 2007
2006	$5.42B	$20.3M	267.1×	+161.5×	Dec 31, 2006
2005	$5.91B	$56M	105.6×	-878.4×	Dec 31, 2005
2004	$4.67B	$4.75M	984.0×	+890.5×	Dec 31, 2004
2003	$3.78B	$40.4M	93.5×	—	Dec 31, 2003
2002	$2.84B	-$24.9M	—	—	Dec 31, 2002


Thomson Reuters (TRI)	18.8×
PACCAR (PCAR)	18.6×
United Parcel Service (UPS)	18.5×
Gorman-Rupp (GRC)	18.5×
Alamo Group (ALG)	18.0×
Allegion (ALLE)	17.8×
Snap-on (SNA)	17.6×
United Airlines Holdings (UAL)	17.5×
Honeywell International (HON)	17.4×
Equifax (EFX)	17.0×
Norfolk Southern (NSC)	16.9×
FedEx (FDX)	15.9×
AGCO (AGCO)	15.4×
General Dynamics (GD)	15.3×
Carlisle Companies (CSL)	14.7×
Amentum Holdings (AMTM)	14.7×
Stanley Black & Decker (SWK)	14.4×
A. O. Smith (AOS)	14.2×
Huntington Ingalls Industries (HII)	14.1×
McGrath RentCorp (MGRC)	13.9×
Masco (MAS)	13.0×
Pool (POOL)	12.2×
Delta Air Lines (DAL)	10.1×
ABM Industries (ABM)	7.2×
Upwork (UPWK)	6.3×

P/FCF Ratio for Fastenal (FAST) 2003-2026

P/FCF Ratio daily chart for Fastenal (FAST)

Historical P/FCF Ratio for Fastenal (FAST) from 2002 to 2025

About P/FCF Ratio at Fastenal (FAST)

Fastenal P/FCF Ratio by Year

Fastenal P/FCF Ratio 2025: 43.9×

Fastenal P/FCF Ratio 2024: 43.5×

Fastenal P/FCF Ratio 2023: 29.4×

Fastenal P/FCF Ratio 2022: 35.2×

Fastenal P/FCF Ratio 2021: 60.1×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Fastenal (FAST) Key Financials