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Fastenal Co

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

Fastenal Reports Solid Sales and Margin Growth in its Second-Quarter 2022 Results

We raised our fair value estimate for Fastenal to $45.50 from $44.50 previously to reflect strong sales and margin growth in the near term. We are now projecting 13% top-line growth for 2022 compared with 12% sales growth following the company’s first-quarter results. We raised our revenue expectations to reflect continued strength across many of Fastenal’s end markets, despite supply headwinds and increasing recession fears.

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