Fastenal Company
Fastenal Company
This profile examines a leading industrial distributor with a multi-decade record of strong performance.
Note to Readers: The full profile of Fastenal is available as a twenty-eight page PDF download for paid subscribers only. In addition, there is an Excel file with all source data and exhibits used in the report. A brief introduction is provided below for all readers. In order to read the full profile, please sign up for a paid subscription. In addition to this profile, paid subscribers gain access to all previous profiles as well.
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Introduction
Fastenal is a leading distributor of industrial and construction supplies operating through a network of 3,283 selling locations in twenty-five countries with a primary concentration in North America. The company strives to be a provider of end-to-end supply chain solutions through a local market presence.
Founded in 1967, Fastenal rapidly expanded its store presence for over four decades, initially targeting small and mid-size communities that were underserved. Starting in 2014, the company shifted its focus to an onsite model where Fastenal maintains a presence within customer locations. As part of this strategy, over 100,000 industrial vending machines have been deployed over the past decade.
Boasting an enviable growth story spanning over a half century, Fastenal shares have long been assigned a premium valuation which has been fully justified in retrospect. This report examines the company’s business model and long record of success with a focus on how the recent shift toward the onsite model and industrial vending might further solidify the company’s strong moat.
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No position in Fastenal.