FASTMEDIUM SIGNALFINANCIAL10-K

Fastenal executed a 2-for-1 stock split while significantly reducing debt by 37.5% and growing operating cash flow by 10.4%.

The stock split signals management confidence in the business and makes shares more accessible to retail investors. The substantial debt reduction combined with strong cash flow growth demonstrates improving financial flexibility and capital allocation efficiency.

Comparing 2026-02-05 vs 2025-02-06View on EDGAR →
FINANCIAL ANALYSIS

Fastenal's financial profile strengthened meaningfully with total debt declining 37.5% to $125M while operating cash flow grew 10.4% to $1.3B, resulting in reduced interest expense of 24.5%. Accounts receivable increased 12.3% to $1.2B, likely reflecting business growth, while dividends paid rose 12.4% to $1.0B. The overall picture shows a company with improving capital structure, strong cash generation, and enhanced shareholder returns, positioning Fastenal with greater financial flexibility and reduced leverage risk.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
-37.5%
$200.0M→$125.0M

Debt reduced 37.5% — deleveraging strengthens balance sheet and reduces financial risk.

Interest Expense
P&L
-24.5%
$14.3M→$10.8M

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Dividends Paid
Cash Flow
+12.4%
$893.3M→$1.0B

Dividend payments increased 12.4% — management confidence in sustained cash generation.

Accounts Receivable
Balance Sheet
+12.3%
$1.1B→$1.2B

Receivables grew 12.3% — monitor days sales outstanding for collection efficiency.

Operating Cash Flow
Cash Flow
+10.4%
$1.2B→$1.3B

Operating cash flow grew 10.4% — strong conversion of earnings to cash, healthy business fundamentals.

LANGUAGE CHANGES
NEW — 2026-02-05
PRIOR — 2025-02-06
ADDED
For purposes of determining this number, all executive officers and directors of the registrant as of June 30, 2025 are considered to be affiliates of the registrant.
As of January 21, 2026, the registrant had 1,148,179,210 shares of Common Stock issued and outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 66 Item 1 3 .
Certain Relationships and Related Transactions, and Director Independence 66 Item 1 4 .
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REMOVED
For purposes of determining this number, all executive officers and directors of the registrant as of June 28, 2024 are considered to be affiliates of the registrant.
As of January 21, 2025, the registrant had 573,419,704 shares of Common Stock issued and outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 78 Item 13.
Beginning in the first quarter of 2024, references to 'net earnings', 'operating and administrative expenses', and 'earnings before income taxes' have been revised in our consolidated financial statements and financial reports, including this annual report on Form 10-K, to 'net income', 'selling, general, and administrative expenses (SG A)', and 'income before income taxes', respectively.
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