Fastenal Company (FAST)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,354,500 | 3,215,800 | 2,777,200 | 2,567,800 | 2,515,400 |
| Revenue | US$ in thousands | 7,340,200 | 6,965,200 | 6,002,300 | 5,639,000 | 5,321,000 |
| Gross profit margin | 45.70% | 46.17% | 46.27% | 45.54% | 47.27% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,354,500K ÷ $7,340,200K
= 45.70%
Fastenal Co.'s gross profit margin has shown some variability over the past five years, ranging from a high of 47.16% in 2019 to a low of 45.47% in 2020. The company's gross profit margin decreased slightly in 2023 to 45.66% compared to 46.07% in 2022, showing a trend of moderate fluctuation in recent years. It is important to note that a higher gross profit margin indicates better efficiency in generating profits from sales after accounting for the cost of goods sold. While the company's margin has experienced some fluctuations, it remains within a relatively stable range, suggesting that Fastenal Co. has been able to effectively manage its cost of goods sold relative to its revenue in recent years.
Peer comparison
Dec 31, 2023