Fastenal Company (FAST)

Fixed asset turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Revenue US$ in thousands 7,340,200 6,965,200 6,002,300 5,639,000 5,321,000
Property, plant and equipment US$ in thousands 1,011,100 1,010,000 1,019,200 1,030,700 1,023,200
Fixed asset turnover 7.26 6.90 5.89 5.47 5.20

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $7,340,200K ÷ $1,011,100K
= 7.26

Fastenal Co.'s fixed asset turnover has shown a consistent improvement over the past five years, indicating efficient utilization of fixed assets to generate sales. The ratio increased from 5.21 in 2019 to 7.27 in 2023, showcasing a positive trend in the company's asset management efficiency. This signifies that for every dollar invested in fixed assets, Fastenal generated $7.27 in revenue in 2023, up from $5.21 in 2019. The upward trend suggests that Fastenal has been effectively maximizing the productivity of its fixed assets over the years, reflecting improved operational efficiency and potentially better profitability.


Peer comparison

Dec 31, 2023

Company name
Symbol
Fixed asset turnover
Fastenal Company
FAST
7.26
Sherwin-Williams Co
SHW
7.95
Tractor Supply Company
TSCO
5.97