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Fastenal Co Piotroski F-Score

: 7 (As of Today)
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Good Sign:

Piotroski F-Score is 7, indicating very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Fastenal Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Fastenal Co's Piotroski F-Score or its related term are showing as below:

FAST' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Fastenal Co was 8. The lowest was 3. And the median was 5.


Fastenal Co Piotroski F-Score Historical Data

The historical data trend for Fastenal Co's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Fastenal Co Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 5.00 4.00 4.00 7.00

Fastenal Co Quarterly Data
Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 5.00 7.00 7.00

Competitive Comparison

For the Industrial Distribution subindustry, Fastenal Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Fastenal Co Piotroski F-Score Distribution

For the Industrial Distribution industry and Industrials sector, Fastenal Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Fastenal Co's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar22) TTM:Last Year (Mar21) TTM:
Net Income was 239.7 + 243.5 + 231.2 + 269.6 = $984 Mil.
Cash Flow from Operations was 171.5 + 167.4 + 156.4 + 230 = $725 Mil.
Revenue was 1507.7 + 1554.2 + 1531.9 + 1704.1 = $6,298 Mil.
Gross Profit was 700.7 + 720.2 + 712.9 + 793.3 = $2,927 Mil.
Average Total Assets from the begining of this year (Mar21)
to the end of this year (Mar22) was
(4074.4 + 4166.6 + 4222.5 + 4299 + 4466.7) / 5 = $4245.84 Mil.
Total Assets at the begining of this year (Mar21) was $4,074 Mil.
Long-Term Debt & Capital Lease Obligation was $490 Mil.
Total Current Assets was $3,034 Mil.
Total Current Liabilities was $746 Mil.
Net Income was 238.9 + 221.5 + 196.1 + 210.6 = $867 Mil.

Revenue was 1509 + 1413.3 + 1358 + 1417 = $5,697 Mil.
Gross Profit was 671.6 + 640.6 + 618.8 + 643.4 = $2,574 Mil.
Average Total Assets from the begining of last year (Mar20)
to the end of last year (Mar21) was
(3934.7 + 4085.2 + 4108.6 + 3964.7 + 4074.4) / 5 = $4033.52 Mil.
Total Assets at the begining of last year (Mar20) was $3,935 Mil.
Long-Term Debt & Capital Lease Obligation was $524 Mil.
Total Current Assets was $2,614 Mil.
Total Current Liabilities was $661 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Fastenal Co's current Net Income (TTM) was 984. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Fastenal Co's current Cash Flow from Operations (TTM) was 725. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar21)
=984/4074.4
=0.24150795

ROA (Last Year)=Net Income/Total Assets (Mar20)
=867.1/3934.7
=0.22037258

Fastenal Co's return on assets of this year was 0.24150795. Fastenal Co's return on assets of last year was 0.22037258. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Fastenal Co's current Net Income (TTM) was 984. Fastenal Co's current Cash Flow from Operations (TTM) was 725. ==> 725 <= 984 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=489.6/4245.84
=0.11531287

Gearing (Last Year: Mar21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar20 to Mar21
=523.9/4033.52
=0.12988655

Fastenal Co's gearing of this year was 0.11531287. Fastenal Co's gearing of last year was 0.12988655. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar22)=Total Current Assets/Total Current Liabilities
=3034/745.5
=4.06975184

Current Ratio (Last Year: Mar21)=Total Current Assets/Total Current Liabilities
=2614.2/661.2
=3.95372051

Fastenal Co's current ratio of this year was 4.06975184. Fastenal Co's current ratio of last year was 3.95372051. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Fastenal Co's number of shares in issue this year was 577.6. Fastenal Co's number of shares in issue last year was 576.5. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2927.1/6297.9
=0.46477397

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2574.4/5697.3
=0.45186316

Fastenal Co's gross margin of this year was 0.46477397. Fastenal Co's gross margin of last year was 0.45186316. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar21)
=6297.9/4074.4
=1.54572452

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar20)
=5697.3/3934.7
=1.447963

Fastenal Co's asset turnover of this year was 1.54572452. Fastenal Co's asset turnover of last year was 1.447963. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+1+1+0+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Fastenal Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Fastenal Co  (NAS:FAST) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Fastenal Co Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Fastenal Co's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Fastenal Co Business Description

Fastenal Co logo
Industry
Industrials » Industrial Distribution NAICS : 238290 SIC : 5039
Address
2001 Theurer Boulevard, Winona, MN, USA, 55987-1500
Fastenal opened its first fastener store in 1967 in Winona, Minnesota. Since then, Fastenal has greatly expanded its footprint as well as its products and services. Today, Fastenal serves its 400,000 active customers through approximately 1,800 branches, over 1,400 on-site locations, and 14 distribution centers. Since 1993, the company has added other product categories, but fasteners remain its largest category at about 30%-35% of sales. Fastenal also offers customers supply-chain solutions, such as vending and vendor-managed inventory.
Executives
Hsu Hsenghung Sam director 2032 SUMMIT AVENUE SAINT PAUL MN 55105
Ancius Michael J director 151 COACHLITE COURT NORTH ONALASKA WI 54650
Soderberg John Lewis officer: Executive Vice President 1757 SNOWFLAKE PLACE ONALASKA WI 54650
Owen Terry Modock officer: Senior Executive VP 704 DOVE CREEK TRAIL SOUTHLAKE TX 76092
Heise Rita J. director 7329 MARINER DRIVE MAPLE GROVE MN 55311
Watts Jeffery Michael officer: Executive Vice-President 48 LAUREL CR. INGERSOLL A6 N5C-3S4
Drazkowski William Joseph officer: Executive Vice-President 806 OLYMPIC DRIVE ONALASKA WI 54650
Hein Leland J officer: Senior Executive VP 2001 THEURER BLVD WINONA MN 55987
Jansen James C officer: Executive Vice President 2001 THEURER BLVD WINONA MN 55987
Miller Charles S. officer: Senior Executive VP 230 CASCADE DR. PADUCAH KY 42003
Dolan Michael John director 1221 SOUTHVIEW DRIVE HASTINGS MN 55033
Lundquist Nicholas J director 2001 THEURER BLVD WINONA MN 55987
Oberton Willard D director 2001 THEURER BLVD WINONA MN 55987
Florness Daniel L director, officer: CEO and President FASTENAL CO 2001 THEURER BLVD WINONA MN 55987
Lisowski Sheryl Ann officer: CAO/Controller/Treasurer 155 WILDWOOD DRIVE WINONA MN 55987

Fastenal Co Headlines

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