Fastenal Company (FAST)

Working capital 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
Revenue (ttm)	US$ in thousands	7,340,200	7,272,600	7,226,700	7,122,900	6,965,300	6,804,100	6,556,500	6,284,600	6,001,600	5,830,100	5,690,000	5,691,200	5,641,200	5,560,100	5,523,900	5,382,800	5,323,200	5,277,900	5,179,500	6,347,500
Total current assets	US$ in thousands	3,020,900	3,147,600	3,137,000	3,161,500	3,124,800	3,195,600	3,152,700	3,034,000	2,856,600	2,770,300	2,705,300	2,614,200	2,499,600	2,646,700	2,606,300	2,464,300	2,457,200	2,500,800	2,468,300	2,389,200
Total current liabilities	US$ in thousands	661,300	667,900	736,600	863,200	789,800	802,600	849,000	745,500	682,200	662,500	650,200	661,200	612,700	603,000	631,300	580,400	544,700	555,100	527,900	554,600
Working capital turnover		3.11	2.93	3.01	3.10	2.98	2.84	2.85	2.75	2.76	2.77	2.77	2.91	2.99	2.72	2.80	2.86	2.78	2.71	2.67	3.46

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,340,200K ÷ ($3,020,900K – $661,300K)
= 3.11

Fastenal Co.'s working capital turnover has shown a fluctuating trend over the past eight quarters. The company's working capital turnover ratio ranged from a low of 2.75 in Q2 2022 to a high of 3.11 in Q4 2023. This indicates that, on average, the company generated $3.11 in net revenue for every $1 of working capital invested in Q4 2023. Overall, Fastenal Co. has managed to efficiently utilize its working capital to generate sales revenue, with a general upward trend observed over the period analyzed.

Peer comparison

Dec 31, 2023

Company name

Symbol

Working capital turnover

Fastenal Company

FAST

3.11

Sherwin-Williams Co

SHW

—

Tractor Supply Company

TSCO

13.39