Fastenal Company (FAST)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,155,000 | 1,086,900 | 925,000 | 859,100 | 790,900 |
| Revenue | US$ in thousands | 7,340,200 | 6,965,200 | 6,002,300 | 5,639,000 | 5,321,000 |
| Net profit margin | 15.74% | 15.60% | 15.41% | 15.23% | 14.86% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $1,155,000K ÷ $7,340,200K
= 15.74%
Fastenal Co. has demonstrated a consistent performance in generating profits over the past five years as evidenced by its progressively increasing net profit margins. The company's net profit margin has shown a steady upward trend, rising from 14.83% in 2019 to 15.72% in 2023. This indicates an improvement in the company's ability to convert its revenue into net income, reflecting efficient cost management and revenue generation strategies. The incremental growth in net profit margin suggests that Fastenal Co. has been effectively controlling its operating expenses while maximizing its profitability. Overall, the company's sustained and gradually rising net profit margin underscores its operational efficiency and financial strength over the years.
Peer comparison
Dec 31, 2023