{"schemaVersion":1,"research":true,"symbol":"fast","name":"Fastenal Co","topic":"moat","path":"/stock/fast/moat","status":"published","version":3,"updatedAt":"2026-10-18T13:18:36.968Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"narrow","summary":"Fastenal has a narrow moat from customer-specific inventory and replenishment integration, reinforced by local stocking and regional distribution capabilities. These are established operating capabilities, although switching friction and superiority over competitors are only partly demonstrated. Pricing power is mixed: pricing increased first-quarter 2026 sales, but unfavorable price/cost reduced first-half gross margin. Operating leverage offset that pressure. Multisourcing, large-customer bargaining power and competing inventory platforms constrain durability; the evidence does not establish a wide moat.","advantages":[{"mechanism":"switching_costs","claim":"Customer-specific stocking, automated replenishment and embedded inventory services create operational integration that can make replacing Fastenal inconvenient. The integration is demonstrated; the magnitude of switching costs is inferred rather than quantified.","durability":"Customer-specific inventory arrangements appear across multiple annual disclosures, and the installed FMI base expanded in 2025. This supports persistence, without establishing contractual lock-in or exceptional durability.","risks":"Most customers use multiple purchasing channels. Competing FMI platforms and dependence on equipment and service suppliers could weaken differentiation. Larger customers obtain lower gross margins.","invalidation":"Sustained losses of established integrated accounts or FMI installations to equivalent competing services, accompanied by declining account demand and evidence that replacement requires little operational adjustment, would invalidate meaningful switching friction.","competitors":[],"evidenceIds":["e1","e2","e3","e4","e5"],"counterEvidenceIds":["e6","e7","e8","e9"]},{"mechanism":"cost_advantage","claim":"Regional distribution and nearby customer-specific inventory support frequent replenishment and shared servicing costs. Actual expense leverage supports a narrow scale-related advantage, although comparative costs against competitors are unavailable.","durability":"The established delivery infrastructure and local inventory provide a current service capability. First-half 2026 sales grew faster than SG&A, supporting its economics. Persistence depends on maintaining customer density and service efficiency.","risks":"Distribution disruptions, labor costs and declining demand could undermine utilization. Larger-account growth brings lower gross margins, and unfavorable price/cost demonstrates limits to cost recovery. Management's replication claims exceed the comparative evidence.","invalidation":"Persistent loss of delivery reliability or expense leverage despite stable demand, or demonstrated competitor service parity at lower total cost that causes sustained account losses, would invalidate this advantage.","competitors":[],"evidenceIds":["e10","e11","e12","e13","e14"],"counterEvidenceIds":["e9","e15","e16","e17"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Business / customer Site service models","excerpt":"Each Site may incorporate one or more service models, including Fastenal Managed Inventory (FMI) programs (FASTStock, FASTBin, FASTVend), integrated supply programs, eBusiness capabilities, and advanced manufacturing services."},{"id":"e2","sourceId":"filing-1","location":"Business / automated inventory replenishment","excerpt":"Our computer system monitors the inventory level for all stock items and triggers replenishment, or prompts a buyer to purchase, as necessary, based on an established minimum-maximum stocking level."},{"id":"e3","sourceId":"filing-1","location":"Business / customer-specific Onsite inventory","excerpt":"Similarly, non-branch selling locations (primarily Onsites) stock inventory exclusively based on customer-specific arrangements."},{"id":"e4","sourceId":"filing-5","location":"Business / customer-specific inventory arrangements in 2023","excerpt":"Similarly, non-branch selling locations (primarily Onsites) stock inventory exclusively based on customer-specific arrangements."},{"id":"e5","sourceId":"filing-1","location":"MD&A / 2025 installed FMI base expansion","excerpt":"We continued to expand our installed base of FMI technology and lift the proportion of sales that run through our Digital Footprint."},{"id":"e6","sourceId":"filing-1","location":"Business / customer purchasing channels and multisourcing","excerpt":"The large majority of our customers utilize multiple channels, from a single distributor or a range of distributors, to procure the products they need in their operations."},{"id":"e7","sourceId":"filing-1","location":"Risk factors / FMI advantage and supplier dependence","excerpt":"Our competitive advantage in FMI solutions, which includes industrial vending (FASTVend) and bin stock (FASTStock and FASTBin) tools, could be eliminated and, in the case of FASTVend and FASTBin, the loss of key suppliers of equipment and services could be impactful and result in failure to deploy devices."},{"id":"e8","sourceId":"filing-1","location":"Risk factors / potential competing inventory platforms","excerpt":"These advantages have developed over time; however, other competitors could respond to our expanding industrial vending and bin stock position with highly competitive platforms of their own."},{"id":"e9","sourceId":"filing-1","location":"Risk factors / large-customer gross margin economics","excerpt":"Similarly, contract accounts and Onsite customers typically have a lower gross profit percentage than smaller customers by virtue of their scale, available business, and broader offering of products which typically have lower gross profit percentages."},{"id":"e10","sourceId":"filing-4","location":"Business / regional delivery frequency in 2024","excerpt":"These distribution centers are located so as to permit deliveries of two to five times per week to our in-market locations using our trucks and overnight delivery by surface common carrier, with approximately 79% of our North American in-market locations receiving service four to five times per week."},{"id":"e11","sourceId":"filing-1","location":"Business / local inventory available for same-day service","excerpt":"Inventory held at our selling locations, close to customers and available on a same-day basis, accounted for approximately 54% of our total inventory at the end of 2025."},{"id":"e12","sourceId":"filing-1","location":"Business / management assessment of Onsite incremental investment","excerpt":"Building on our core business strategy of the local branch, the Onsite model provides value to our customers through customized service while giving us a competitive advantage through stronger relationships with those customers, all with a relatively low incremental investment given the existing branch and distribution structure."},{"id":"e13","sourceId":"filing-2","location":"MD&A / first-half 2026 sales and operating results","excerpt":"21 Table of Contents SIX MONTHS ENDED JUNE 30, 2026 VERSUS SIX MONTHS ENDED JUNE 30, 2025 Results of Operations The following table sets forth condensed consolidated statements of income information (as a percentage of net sales) for the periods ended June 30: Six-month Period 2026 2025 Net sales 100.0 % 100.0 % Gross profit 44.6 % 45.2 % SG&A expenses 23.9 % 24.7 % Operating income 20.7 % 20.5 % Net interest 0.0 % 0.0 % Income before income taxes 20.7 % 20.5 % Sales The table below sets forth net sales and daily sales for the periods ended June 30, and changes in such sales from the prior period to the more recent period: Six-month Period 2026 2025 Net sales $ 4,588.6 4,039.7 Percentage change 13.6 % 6.0 % Business days 127 127 Daily sales $ 36.1 31.8 Percentage change 13.6 % 6.8 % Daily sales impact of currency fluctuations 0.2 % -0.2 % Net sales increased $548.9, or 13.6%, in the first six months of 2026 when compared to the first six months of 2025 (both periods had the same number of selling days)."},{"id":"e14","sourceId":"filing-2","location":"MD&A / first-half 2026 expense leverage","excerpt":"Growth in net sales was above growth in SG&A expenses, resulting in our leveraging of costs in the first six months of 2026."},{"id":"e15","sourceId":"filing-2","location":"MD&A / first-half 2026 realized price/cost and gross margin","excerpt":"Our gross profit, as a percentage of net sales, decreased to 44.6% in the first six months of 2026 from 45.2% in the first six months of 2025, driven primarily by unfavorable net price/cost of approximately 45 basis points, and headwinds from customer mix, transportation costs and certain customer rebates."},{"id":"e16","sourceId":"filing-1","location":"Risk factors / distribution disruption exposure","excerpt":"Disruptions at distribution centers or shipping ports may affect our ability to both maintain core products in inventory and deliver products to our customers on a timely basis, which may in turn adversely affect our results of operations."},{"id":"e17","sourceId":"filing-1","location":"Risk factors / management assessment of FMI differentiation","excerpt":"We believe we have a competitive advantage in industrial vending and bin stock due to our hardware and software, our local presence (allowing us to service devices and bins more rapidly and with less burden on our customers), our depth of products that lend themselves to being dispensed through industrial vending devices or bin stocks, and, particularly in North America, our distribution strength."},{"id":"e18","sourceId":"filing-6","location":"MD&A / first-quarter 2026 observed pricing contribution","excerpt":"The impact of product pricing on net sales in the first quarter of 2026 was an increase of approximately 350 basis points, compared to being immaterial in the first quarter of 2025."},{"id":"e19","sourceId":"filing-6","location":"MD&A / contract signings and first-quarter 2026 sales growth","excerpt":"Net sales increased $242.2, or 12.4%, in the first quarter of 2026 when compared to the first quarter of 2025 (both periods had the same number of selling days.) Sales performance reflects the contribution from improved customer contract signings since the first quarter of 2024, as well as a slight improvement in industrial production in the first quarter of 2026."},{"id":"e20","sourceId":"filing-2","location":"MD&A / second-quarter 2026 operating margin resilience","excerpt":"Operating income as a percentage of net sales was 21.0% in the second quarter of 2026, remaining consistent year-over-year as SG&A leverage fully offset gross margin pressure."},{"id":"e21","sourceId":"filing-2","location":"Financial statements / first-half 2026 cash flows and capital uses","excerpt":"4 Table of Contents FASTENAL COMPANY Condensed Consolidated Statements of Cash Flows (Amounts in millions) (Unaudited) Six Months Ended June 30, Three Months Ended June 30, 2026 2025 2026 2025 Cash flows from operating activities: Net income $ 722.6 628.9 $ 382.8 330.3 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation of property and equipment 84.8 84.4 42.8 42.4 Loss (gain) on sale of property and equipment 0.2 (1.6) (0.8) (1.3) Bad debt expense 3.3 1.9 1.9 0.2 Deferred income taxes (1.6) 1.4 0.2 0.7 Stock-based compensation 5.2 4.1 2.6 2.0 Amortization of intangible assets 5.4 5.4 2.7 2.7 Changes in operating assets and liabilities: Trade accounts receivable, net (320.2) (206.4) (116.0) (36.4) Inventories 7.7 (67.7) (44.8) (41.2) Other current assets 2.4 25.6 (17.9) 15.5 Accounts payable 84.1 24.7 37.4 (20.6) Accrued expenses 28.6 30.1 45.7 38.9 Income taxes 24.2 12.5 (68.0) (58.4) Other (2.4) (2.5) (3.0) 3.8 Net cash provided by operating activities 644.1 540.8 265.7 278.6 Cash flows from investing activities: Purchases of property and equipment (123.0) (125.0) (64.1) (69.3) Proceeds from sale of property and equipment 4.8 6.9 3.6 5.0 Other (2.0) (0.2) (2.0) (0.1) Net cash used in investing activities (120.2) (118.3) (62.5) (64.4) Cash flows from financing activities: Proceeds from debt obligations 407.0 675.0 360.0 520.0 Payments against debt obligations (412.0) (645.0) (365.0) (490.0) Proceeds from exercise of stock options 10.4 17.3 2.8 6.1 Purchases of common stock (50.3) — (30.0) — Cash dividends paid (550.9) (499.1) (275.4) (252.5) Net cash used in financing activities (595.9) (451.8) (307.6) (216.4) Effect of exchange rate changes on cash and cash equivalents (0.1) 11.3 0.5 8.2 Net (decrease) increase in cash and cash equivalents (72.0) (18.0) (103.9) 6.0 Cash and cash equivalents at beginning of period 276.8 255.8 308.6 231.8 Cash and cash equivalents at end of period $ 204.7 237.8 $ 204.7 237.8 Supplemental information: Cash paid for interest $ 2.0 4.2 $ 1.3 2.7 Net cash paid for income taxes $ 203.0 185.3 $ 187.0 163.4 Leased assets obtained in exchange for new operating lease liabilities $ 63.0 73.2 $ 31.0 42.7 See accompanying Notes to Condensed Consolidated Financial Statements."},{"id":"e22","sourceId":"filing-1","location":"MD&A / actual 2025 and 2024 capital expenditures","excerpt":"Set forth below is a recap of our 2025 and 2024 net capital expenditures in dollars and as a percentage of net sales and net income: 2025 2024 Manufacturing, warehouse and packaging equipment, industrial vending equipment, and facilities $ 160.1 145.8 Shelving and related supplies for selling location openings and for product expansion at existing selling locations 27.3 23.5 Data processing software and equipment 34.7 25.5 Real estate and improvements to branch locations 6.9 8.7 Vehicles 16.3 23.0 Purchases of property and equipment 245.3 226.5 Proceeds from sale of property and equipment (14.8) (12.4) Net capital expenditures (1) 230.6 214.1 % of net sales 2.8 % 2.8 % % of net income 18.3 % 18.6 % (1) Amounts may not foot due to rounding."},{"id":"e23","sourceId":"filing-2","location":"MD&A / expected 2026 capital expenditure commitment","excerpt":"For 2026, we continue to expect our net capital expenditures to be between $310.0 and $330.0, an increase from $230.6 in 2025."},{"id":"e24","sourceId":"filing-3","location":"Executive compensation / existing quarterly incentive formula","excerpt":"We pay our named executive officers cash incentive bonuses each quarter if we exceed 100% of pre-tax income (and for the chief financial officer, net income) for the comparable quarter of the previous year."},{"id":"e25","sourceId":"filing-3","location":"Executive compensation / executive option vesting periods","excerpt":"The stock options granted to executive officers vest and become exercisable over a period of five or eight years from the date of grant, with such staggered vesting designed to ensure continuity of leadership."},{"id":"e26","sourceId":"filing-3","location":"Executive compensation / actual 2025 named executive option grants","excerpt":"Of these grants, options to purchase an aggregate of 295,900 shares were awarded to our named executive officers."},{"id":"e27","sourceId":"filing-3","location":"Corporate governance / independent chair and board composition","excerpt":"Board composition and governance highlights: •Our roles of board chair and CEO are separated; •Our board chair is independent; •Nine of our 11 directors are independent; •The board has three committees: audit, compensation, and nominating and corporate governance."},{"id":"e28","sourceId":"filing-3","location":"Corporate governance / independent committees, attendance and shareholder voting","excerpt":"The charters of each of these committees can be viewed on Fastenal's investor website; •All committees of our board are composed exclusively of independent directors; •Director participation in board and committee meetings was 75% or more for each incumbent director in 2025; •We have stock ownership guidelines (detailed later in this document) requiring each non-employee director and each officer subject to Section 16 reporting requirements to achieve a specific equity ownership level; •A full slate of director nominees is submitted to shareholders annually and elected using a majority voting standard; •We have one class of shares; •Our corporate governance guidelines provide that the maximum number of employees or former employees serving on the board will not exceed thirty percent of the total number of directors on the board, which limitation may be waived by the board."},{"id":"e29","sourceId":"filing-3","location":"Corporate governance / related-person transaction approval policy","excerpt":"Related Person Transaction Approval Policy Our board of directors has a formal written related person transaction approval policy, which sets out our policies and procedures for the review, approval, or ratification of 'related person transactions'."},{"id":"e30","sourceId":"filing-1","location":"MD&A / delayed 2025 capital projects","excerpt":"We were below our anticipated range due to delayed projects that are expected to resume in 2026."}],"changes":["Retain the previous narrow verdict; customer integration and distribution capabilities remain the evidenced basis.","Make pricing erosion explicit: first-quarter 2026 pricing contributed approximately 350 basis points to sales, while first-half unfavorable net price/cost reduced gross margin by approximately 45 basis points.","Add criterion-level management assessments using actual compensation arrangements, governance disclosures and capital uses."],"limitations":["Only supplied issuer filings were assessed. Their dates are filing dates, retaining dateKind=filed; no retrieval date was treated as publication.","No company is identified as a competitor in the supplied competitive passages. Competitor arrays are empty; companies named as employers, auditors or financing counterparties do not establish competitor coverage.","Comparative distribution costs, measured switching expenses, account retention rates and competitive win/loss data are absent. Customer dependency and retention are assessed indirectly.","Claims that FMI is difficult to replicate and Onsites require little incremental investment are management assessments, not demonstrated competitor comparisons.","Current customer pricing clauses, repricing rights and contract termination terms are absent. Contractual freedom cannot be established.","Executive ownership levels and compliance with ownership guidelines are not supplied. Existing executive option grants support alignment; proposed RSU provisions are not treated as adopted or vested awards.","Latest supplied operating results cover June 30, 2026. No exceptional long-term durability is established."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":3,"rationale":"Customer-specific stocking, automated replenishment and frequent regional deliveries establish an integrated service structure. Expense leverage supports its economics, although comparative superiority is incompletely evidenced.","evidenceIds":["e2","e3","e10","e11","e14"]},{"criterion":"durability","grade":2,"rationale":"Customer-specific arrangements persist across annual disclosures and FMI expanded in 2025. Multisourcing and potential competing platforms limit confidence in enduring switching costs.","evidenceIds":["e3","e4","e5","e6","e8"]},{"criterion":"customer_dependency","grade":2,"rationale":"Inventory and replenishment integration imply operational reliance, but this is indirect evidence. Widespread multisourcing and absent account-level retention data prevent a strong dependency assessment.","evidenceIds":["e1","e2","e3","e6"]},{"criterion":"erosion_resilience","grade":2,"rationale":"First-half growth and second-quarter operating margin stability offset evidence of unfavorable price/cost. These operating achievements support resilience, while supplier dependence and competing platforms remain prospective risks.","evidenceIds":["e7","e8","e13","e15","e20"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":2,"rationale":"Pricing contributed approximately 350 basis points to first-quarter 2026 sales, demonstrating realized increases. First-half unfavorable net price/cost of approximately 45 basis points shows incomplete cost recovery and mixed pricing power.","evidenceIds":["e18","e15"]},{"criterion":"retention","grade":2,"rationale":"Customer-specific integration, installed-base expansion and contract-supported growth provide indirect evidence of engagement and continuing demand. New signings do not establish retention of existing accounts, and customers commonly multisource.","evidenceIds":["e3","e5","e19","e6"]},{"criterion":"margin_resilience","grade":3,"rationale":"First-half operating margin rose to 20.7% from 20.5%, and second-quarter operating margin held at 21.0% despite gross margin pressure. Demonstrated expense leverage supports resilience, but does not itself prove pricing strength.","evidenceIds":["e13","e15","e20"]},{"criterion":"contractual_freedom","grade":null,"rationale":"The passages do not disclose customer repricing rights, price guarantees or binding duration terms. Observed price changes cannot establish contractual freedom.","evidenceIds":[]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Actual capital investment accompanies growth and operating cash generation. However, first-half 2026 operating cash flow of $644.1 million less net capital expenditures of $118.2 million did not cover $601.2 million of cash dividends and repurchases, and cash declined. Delayed projects and higher planned spending also temper the assessment.","evidenceIds":["e21","e22","e23","e30"]},{"criterion":"incentive_alignment","grade":3,"rationale":"Actual executive option grants with five- or eight-year vesting provide long-term exposure, while cash incentives depend on year-over-year profit growth. Quarterly targets create some short-term emphasis; actual executive ownership levels are missing. Proposed RSUs are excluded.","evidenceIds":["e24","e25","e26"]},{"criterion":"execution","grade":3,"rationale":"Installed FMI expansion, contract-supported sales growth and expense leverage demonstrate execution through operating outcomes. Attribution to management is indirect, and delayed capital projects qualify the record.","evidenceIds":["e5","e19","e13","e14","e30"]},{"criterion":"governance","grade":3,"rationale":"An independent chair, majority-independent board, independent committees, annual majority-vote elections and a related-person transaction policy establish strong governance arrangements. Disclosures do not establish exceptional long-term oversight effectiveness.","evidenceIds":["e27","e28","e29"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-4","basisHash":"03cb0d7ece1c114c18bc03f4be38623c0bd0063af95ac2cafee0c2d60b6183ff","updatedAt":"2026-10-18T13:18:36.968Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555626000009/fast-20251231.htm","publishedAt":"2026-02-05","sha256":"658db09d43701e6a6ad79b580d33c5eb64f1d3ad47d153592d9c42243b4ba718","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555626000041/fast-20260630.htm","publishedAt":"2026-07-16","sha256":"b145d5e3d9ab79ec7a3ee08042d84042eb12fd83f85332102d1d858f808bd943","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555626000017/fast-20260225.htm","publishedAt":"2026-02-25","sha256":"fbd9f78fba4badd3fc85b76d908c172c1044b8cea23ee48a4e118ee50af3a49d","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555625000065/fast-20241231.htm","publishedAt":"2025-02-06","sha256":"ed08139edabef0607fe28fa5041fccfdd5ba76fbf3f52b6242a2c18528c2b33f","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555624000009/fast-20231231.htm","publishedAt":"2024-02-06","sha256":"a6170143c7d249494b96f6d75aa0c53b9662d0320cd219fa4c0880030936cfe8","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555626000022/fast-20260331.htm","publishedAt":"2026-04-16","sha256":"44e8c5846e318fa4ffa7162cb900e1dd00acdbbd3bd1fbbce646f38a81073077","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:50e634a7aa5527563e3e605cc703af808161e56ff02fbedb1592395433859904","usage":{"input_tokens":85908,"cached_input_tokens":21120,"cache_write_input_tokens":0,"output_tokens":3305,"reasoning_output_tokens":98}},"signals":[{"period":"2021","end":"2021-12-31","values":{"gross_margin":46.202731704070935,"operating_margin":20.253206674541254,"roic":30.626663730997755,"fcf_margin":10.206458267480743,"sbc_revenue":0.093164085245138},"issues":{"pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2022","end":"2022-12-31","values":{"gross_margin":46.067673265908375,"operating_margin":20.823424920493938,"roic":32.82910688549443,"fcf_margin":10.990459272841877,"sbc_revenue":0.10314299630404263},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2023","end":"2023-12-31","values":{"gross_margin":45.65995617079777,"operating_margin":20.807981814964542,"roic":33.744965628707476,"fcf_margin":17.149196237766617,"sbc_revenue":0.0993643404521758},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2024","end":"2024-12-31","values":{"gross_margin":45.08216273522396,"operating_margin":20.010601643254706,"roic":33.16204947705724,"fcf_margin":12.547044791942753,"sbc_revenue":0.10601643254704478},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2025","end":"2025-12-31","values":{"gross_margin":45.01188951893177,"operating_margin":20.19023230290836,"roic":34.24594354899651,"fcf_margin":12.811413938174503,"sbc_revenue":0.10243277848911653},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","buybacks":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555626000009/fast-20251231.htm","publishedAt":"2026-02-05","sha256":"658db09d43701e6a6ad79b580d33c5eb64f1d3ad47d153592d9c42243b4ba718","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555626000041/fast-20260630.htm","publishedAt":"2026-07-16","sha256":"b145d5e3d9ab79ec7a3ee08042d84042eb12fd83f85332102d1d858f808bd943","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555626000017/fast-20260225.htm","publishedAt":"2026-02-25","sha256":"fbd9f78fba4badd3fc85b76d908c172c1044b8cea23ee48a4e118ee50af3a49d","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555625000065/fast-20241231.htm","publishedAt":"2025-02-06","sha256":"ed08139edabef0607fe28fa5041fccfdd5ba76fbf3f52b6242a2c18528c2b33f","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555624000009/fast-20231231.htm","publishedAt":"2024-02-06","sha256":"a6170143c7d249494b96f6d75aa0c53b9662d0320cd219fa4c0880030936cfe8","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/815556/000081555626000022/fast-20260331.htm","publishedAt":"2026-04-16","sha256":"44e8c5846e318fa4ffa7162cb900e1dd00acdbbd3bd1fbbce646f38a81073077","dateKind":"filed"}],"history":[{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"narrow","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"narrow","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}