This profile examines a leading industrial distributor with a multi-decade record of strong performance.
Introduction
Fastenal is a leading distributor of industrial and construction supplies operating through a network of 3,283 selling locations in twenty-five countries with a primary concentration in North America. The company strives to be a provider of end-to-end supply chain solutions through a local market presence.
Founded in 1967, Fastenal rapidly expanded its store presence for over four decades, initially targeting small and mid-size communities that were underserved. Starting in 2014, the company shifted its focus to an onsite model where Fastenal maintains a presence within customer locations. As part of this strategy, over 100,000 industrial vending machines have been deployed over the past decade.
Boasting an enviable growth story spanning over a half century, Fastenal shares have long been assigned a premium valuation which has been fully justified in retrospect. This report examines the company’s business model and long record of success with a focus on how the recent shift toward the onsite model and industrial vending might further solidify the company’s strong moat.
The rest of this profile of Fastenal can be downloaded by using the links below.
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No position in Fastenal.