Fastenal Company (FAST)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 200,000 | 200,000 | 200,000 | 200,000 | 353,200 | 404,700 | 310,000 | 330,000 | 330,000 | 330,000 | 365,000 | 365,000 | 365,000 | 365,000 | 405,000 | 450,100 | 342,000 | 442,000 | 497,000 | 484,600 |
| Total assets | US$ in thousands | 4,462,900 | 4,596,600 | 4,576,800 | 4,577,000 | 4,548,600 | 4,627,400 | 4,592,300 | 4,466,700 | 4,299,000 | 4,222,500 | 4,166,600 | 4,074,400 | 3,964,700 | 4,108,600 | 4,085,200 | 3,934,700 | 3,799,900 | 3,814,200 | 3,756,400 | 3,651,800 |
| Debt-to-assets ratio | 0.04 | 0.04 | 0.04 | 0.04 | 0.08 | 0.09 | 0.07 | 0.07 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.09 | 0.10 | 0.11 | 0.09 | 0.12 | 0.13 | 0.13 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $200,000K ÷ $4,462,900K
= 0.04
The debt-to-assets ratio of Fastenal Co. has shown a decreasing trend from Q4 2022 to Q2 2023, indicating the company's ability to rely less on debt financing relative to its total assets. This trend suggests a more conservative approach to managing its capital structure, which can be beneficial for long-term financial stability. In Q4 2022 and Q3 2022, the ratio was relatively high at 0.12, possibly indicating higher leverage and greater financial risk. However, from Q3 2022 onwards, there was a decline in the ratio, reaching 0.06 in Q4 2023, which indicates a lower proportion of debt to total assets. Overall, the decreasing trend in the debt-to-assets ratio reflects a positive sign of improving financial health and a more balanced approach to using debt in Fastenal Co.'s capital structure.
Peer comparison
Dec 31, 2023