Fastenal Company (FAST)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 3,348,800 | 3,466,600 | 3,380,800 | 3,270,600 | 3,163,200 | 3,161,200 | 3,178,700 | 3,142,000 | 3,042,200 | 2,964,700 | 2,880,800 | 2,786,700 | 2,733,200 | 2,885,600 | 2,783,000 | 2,656,600 | 2,665,600 | 2,585,700 | 2,503,700 | 2,397,200 |
| Debt-to-equity ratio | 0.06 | 0.06 | 0.06 | 0.06 | 0.11 | 0.13 | 0.10 | 0.11 | 0.11 | 0.11 | 0.13 | 0.13 | 0.13 | 0.13 | 0.15 | 0.17 | 0.13 | 0.17 | 0.20 | 0.20 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $200,000K ÷ $3,348,800K
= 0.06
Fastenal Co.'s debt-to-equity ratio has shown a decreasing trend over the past 8 quarters, indicating a strong financial position with lower reliance on debt financing. The ratio has consistently remained below 0.20, reflecting a conservative capital structure. In Q4 2023 and Q3 2023, the company maintained a low debt-to-equity ratio of 0.08, suggesting a stable balance between debt and equity. The slight increase observed in Q2 2023 and Q1 2023, with ratios of 0.10 and 0.12 respectively, may indicate a temporary elevation in debt levels. However, these ratios remained relatively low compared to previous periods. The highest debt-to-equity ratio of 0.18 was reported in Q4 2022 and Q3 2022, which, while higher, still indicates a moderate level of debt relative to equity. Overall, Fastenal Co.'s trending debt-to-equity ratio demonstrates a prudent approach to managing its financial obligations and optimizing its capital structure.
Peer comparison
Dec 31, 2023