Fastenal CoFAST -1.25%97 Net-Net Working Capital is $0.89 as of Mar. 2026. GuruFocus rates FAST with a GF Score™ of 97/100 and a GF Value™ of $43.38 (Fairly Valued). The stock has 2 warning signs investors should review. Among 55 Industrial Distribution companies, Fastenal Co ranks worse than 81.82% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Fastenal Co's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $0.89.
The industry rank for Fastenal Co's Net-Net Working Capital or its related term are showing as below:
FAST's Price-to-Net-Net-Working-Capital is ranked worse than 81.82% of 55
companies
in the Industrial Distribution industry
Industry Median: 7.27
vs FAST: 52.26
Fastenal Co (NAS:FAST) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Fastenal Co Net-Net Working Capital Related Terms
Fastenal Co Net-Net Working Capital Historical Data
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The historical data trend for Fastenal Co's Net-Net Working Capital 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.
FAST vs FERG, GWW, WCC: Net-Net Working Capital Comparison
For the Industrial Distribution subindustry, Fastenal Co's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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 Price-to-Net-Net-Working-Capital vs Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Fastenal Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Fastenal Co's Price-to-Net-Net-Working-Capital falls into.
* 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.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $0.89 mean?
Fastenal Co (FAST) has a Net-Net Working Capital of $0.89 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Fastenal Co According to the industry distribution chart, Fastenal Co ranks #45 out of 55 companies in the Industrial Distribution industry, placing it in the top 81.8%.
Is Fastenal Co's Net-Net Working Capital too high?
Fastenal Co's current Net-Net Working Capital is $0.89. The Industrial Distribution industry median Net-Net Working Capital is 7.27. Fastenal Co's value of $0.89 is 87.8% below this industry median. Based on the distribution chart, Fastenal Co ranks #45 out of 55 companies in the Industrial Distribution industry, which is in the bottom quartile relative to peers. Overall, Fastenal Co has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Fastenal Co's Net-Net Working Capital compare to FERG and GWW?
According to the Industrial Distribution industry distribution chart, Fastenal Co ranks #45 out of 55 companies for Net-Net Working Capital. This places Fastenal Co in the lower half of its industry. The industry median Net-Net Working Capital is 7.27. Fastenal Co's value of $0.89 is 87.8% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for an Industrial Distribution company?
The median Net-Net Working Capital among Industrial Distribution companies is 7.27, based on 55 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Fastenal Co's current Net-Net Working Capital of $0.89 is 87.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Fastenal Co For the Industrial Distribution industry, the median Net-Net Working Capital is 7.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fastenal Co's current Net-Net Working Capital is $0.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fastenal Co stock overvalued right now?
Based on GuruFocus' analysis, Fastenal Co (FAST) is currently considered Fairly Valued. The stock's GF Value™ is $43.38, compared to a current price of $46.51 — trading 7.2% above its estimated fair value. The current Net-Net Working Capital is $0.89 and 87.8% below the Industrial Distribution industry median of 7.27. Fastenal Co's overall GF Score™ is 97/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Fastenal Co (FAST), the current Net-Net Working Capital is $0.89 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Fastenal Co (FAST) Overvalued in 2026?
Based on GuruFocus' analysis, Fastenal Co stock appears to be overvalued.
The current stock price of $46.51 is trading 7.2% above its estimated GF Value™ of $43.38.
GuruFocus considers Fastenal Co to be Fairly Valued.
Key valuation signals for FAST:
Net-Net Working Capital: $0.89
GF Value™: $43.38 vs. price of $46.51 (7.2% above fair value)
Industry Position: 87.8% below the Industrial Distribution median (#45 of 55)
No single metric tells the full story. See the FAST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fastenal began as an industrial retailer, expanding its product portfolio from nuts and bolts to cutting tools, safety equipment, and janitorial supplies. It transitioned into a distributor by building out a dense network of branches close to its business customers. Once a customer becomes large enough, Fastenal installs vending machines and its own personnel on-site. Today, these on-site locations exceed Fastenal's branch count and remain the firm's main focus for expansion. Fastenal acts as a one-stop outsourcing partner for its industrial customers, offering value-added services along with a wide breadth of maintenance, repair, and operations supplies.
97GF Score
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