Fastenal Company (FAST)
Inventory turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 5,828,800 | 5,786,600 | 5,750,700 | 5,657,700 | 5,537,900 | 5,406,300 | 5,216,200 | 5,008,200 | 4,798,800 | 4,661,700 | 4,550,100 | 4,552,900 | 4,510,600 | 4,453,500 | 4,426,500 | 4,327,700 | 4,279,800 | 4,239,600 | 4,160,200 | 4,065,800 |
| Inventory | US$ in thousands | 1,522,700 | 1,513,800 | 1,565,400 | 1,651,900 | 1,708,000 | 1,678,100 | 1,665,200 | 1,600,800 | 1,523,600 | 1,401,100 | 1,327,900 | 1,305,300 | 1,337,500 | 1,342,600 | 1,401,500 | 1,345,500 | 1,366,400 | 1,354,700 | 1,345,700 | 1,293,900 |
| Inventory turnover | 3.83 | 3.82 | 3.67 | 3.42 | 3.24 | 3.22 | 3.13 | 3.13 | 3.15 | 3.33 | 3.43 | 3.49 | 3.37 | 3.32 | 3.16 | 3.22 | 3.13 | 3.13 | 3.09 | 3.14 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $5,828,800K ÷ $1,522,700K
= 3.83
Fastenal Co.'s inventory turnover has shown consistency in the recent quarters, ranging between 2.11 to 2.62. The company's inventory turnover peaked at 2.62 during Q4 2023 and Q3 2023, indicating that Fastenal Co. is generating sales more efficiently from its inventory holdings. This implies that the company is managing its inventory well and not overstocking or understocking, which could potentially lead to increased carrying costs or lost sales opportunities. Overall, the stable and relatively high inventory turnover suggests effective inventory management practices at Fastenal Co.
Peer comparison
Dec 31, 2023
Dec 31, 2023