Discounted Cash Flow

Fastenal Co.

FAST · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $4.0b $499.5m $324.5m 12.6% $1.73
2017 $4.4b (10.8%) $578.6m (15.8%) $465.3m (43.4%) 13.2% (4.5%) $2.01 (16.2%)
2018 $5.0b (13.1%) $751.9m (30.0%) $497.9m (7.0%) 15.1% (14.9%) $2.62 (30.3%)
2019 $5.3b (7.4%) $790.9m (5.2%) $596.3m (19.8%) 14.8% (-2.1%) $1.38 (-47.3%)
2020 $5.6b (5.9%) $859.1m (8.6%) $933.7m (56.6%) 15.2% (2.6%) $1.50 (8.7%)
2021 $6.0b (6.4%) $925.0m (7.7%) $613.5m (-34.3%) 15.4% (1.2%) $1.61 (7.3%)
2022 $7.0b (16.1%) $1.1b (17.5%) $767.2m (25.1%) 15.6% (1.2%) $1.89 (17.4%)
2023 $7.3b (5.2%) $1.2b (6.3%) $1.3b (64.2%) 15.7% (1.0%) $2.02 (6.9%)
2024 $7.5b (2.7%) $1.2b (-0.4%) $946.8m (-24.9%) 15.2% (-3.0%) $2.01 (-0.5%)
2025 $8.2b (8.7%) $1.3b (9.4%) $1.1b (11.0%) 15.3% (0.6%) $1.10 (-45.3%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model