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Fastenal cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$348M in Q3 2026 · $1.2B over twelve months

Operating cash flow$422M
Capital spending−$74.0M
Free cash flow+$348M
Cash / net income1.0×
Cash conversion cycle150 days

Analysis

In Q3 2026, Fastenal generated $422M of operating cash flow and spent $74.0M on capital projects, leaving free cash flow of $348M. That is $21.0M more than in Q3 2025 ($327M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.4B; the largest uses were dividends ($1.1B), capital spending ($257M), net borrowing (+) / repaid (−) ($95.0M); besides operations, cash came from shares issued ($17.9M), asset & business sales ($9.3M); the cash balance fell by $76.2M.

Operating cash flow was $422M against net income of $402M — 1.0× profit, roughly in line with earnings. The largest differences: receivables −$58.9M, accrued liabilities +$48.7M, depreciation & amortization +$44.9M.

Its cash conversion cycle was 150 days (receivables 59 + inventory 119 − payables 29).

Free cash flow

Fastenal: free cash flow by quarterFastenal: free cash flow by quarter$223MQ4 2024$206MQ1 2025$209MQ2 2025$327MQ3 2025$308MQ4 2025$320MQ1 2026$202MQ2 2026$348MQ3 2026
Operating cash flow less capital spending.
Fastenal: operating cash flow against capital spendingFastenal: operating cash flow against capital spendingOperating cash flowCapital spending$283M$60.2MQ4 2024$262M$55.7MQ1 2025$279M$69.3MQ2 2025$387M$60.3MQ3 2025$368M$60.0MQ4 2025$378M$58.9MQ1 2026$266M$64.1MQ2 2026$422M$74.0MQ3 2026
Latest (Q3 2026): Operating cash flow $422M, Capital spending $74.0M.

Capital allocation, year by year

Fastenal: where the cash came from (up) and went (down), by fiscal yearFastenal: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $770MFY2021: Net borrowing −$15.0MFY2021: Shares issued $31.6MFY2021: Asset sales $8.4MFY2021: Capital spending −$157MFY2021: Dividends −$644M$810MFY2021FY2022: Operating cash flow $941MFY2022: Net borrowing $165MFY2022: Shares issued $9.2MFY2022: Asset sales $11.4MFY2022: Capital spending −$174MFY2022: Buybacks −$238MFY2022: Dividends −$711M$1.1BFY2022FY2023: Operating cash flow $1.4BFY2023: Net borrowing −$295MFY2023: Shares issued $30.1MFY2023: Asset sales $12.2MFY2023: Capital spending −$173MFY2023: Dividends −$1.0B$1.5BFY2023FY2024: Operating cash flow $1.2BFY2024: Net borrowing −$60.0MFY2024: Shares issued $39.6MFY2024: Asset sales $12.4MFY2024: Capital spending −$226MFY2024: Dividends −$893M$1.2BFY2024FY2025: Operating cash flow $1.3BFY2025: Net borrowing −$75.0MFY2025: Shares issued $24.3MFY2025: Asset sales $14.8MFY2025: Capital spending −$245MFY2025: Dividends −$1.0B$1.3BFY2025
Over these 5 years operating cash flow totalled $5.6B; the largest uses were dividends ($4.3B) and capital spending ($975M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$212M
Debt$100M
Net cash$112M
Due within a year$50.0M

Fastenal funds itself: free cash flow was $1.2B over the last twelve months, and $212M of cash and investments stands against $100M of debt ($50.0M due within a year, 4.2× covered by cash).

Where the cash came from and went

Fastenal: sources (+) and uses (−) of cash, Q3 2026Fastenal: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$422MDividends−$298MCapital spending−$74.0MBuybacks−$30.5MNet borrowing (+) / repaid (−)−$20.0MShares issued$7.2MCash drawn (+) / kept (−)−$7.1MAsset & business sales$2.2MExchange rates−$1.0MOther investing−$200K
Fastenal: sources (+) and uses (−) of cash, TTM to Q3 2026Fastenal: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.4BDividends−$1.1BCapital spending−$257MNet borrowing (+) / repaid (−)−$95.0MOther financing−$80.8MCash drawn (+) / kept (−)$76.2MShares issued$17.9MAsset & business sales$9.3MOther investing−$2.3MExchange rates−$400K

From profit to cash

Fastenal: net income to operating cash flow, Q3 2026Fastenal: net income to operating cash flow, Q3 2026Net income$402MDepreciation & amortization$44.9MStock-based pay$2.6MDeferred taxes$200KGains on disposals−$100KReceivables−$58.9MInventory−$41.9MPayables$43.4MAccrued liabilities$48.7MPrepaid and other assets−$36.8MIncome taxes payable$13.0MOther operating capital$3.9MOperating cash flow$422M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265911929150
Q2 20265711826149
Q1 20265512725157
Q4 20255914127173
Q3 20255813626167
Q2 20255713626167
Q1 20255513926167
Q4 20245814627178

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$422M−$74.0M−$30.5M−$298M−$20.0M$7.2M−$7.1M$348M
Q2 2026$266M−$64.1M−$30.0M−$275M−$5.0M$2.8M$104M$202M
Q1 2026$378M−$58.9M−$20.3M−$276M—$7.6M−$31.9M$320M
Q4 2025$368M−$60.0M—−$253M−$70.0M$400K$11.3M$308M
Q3 2025$387M−$60.3M—−$252M−$35.0M$6.6M−$50.3M$327M
Q2 2025$279M−$69.3M—−$252M$30.0M$6.1M−$6.0M$209M
Q1 2025$262M−$55.7M—−$247M—$11.2M$24.0M$206M
Q4 2024$283M−$60.2M—−$223M−$40.0M$13.3M$36.4M$223M

Fastenal: income statement and cash flow

Fastenal, Q3 2026: revenue $2.5B (+16% year over year), operating margin 21.5%. The chart follows the revenue to costs, profit and cash.

Fastenal: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.