Fastenal
22 named things its latest annual report says its results depend on, each in the company's own words. 13 of them are also named by other companies we've read.
Customers
Manufacturing end market
earns from · Approximately 71% to 76% of our customersnamed as a riskApproximately 71% to 76% of our customers are in manufacturing end markets, which encompass heavy machinery, fabricated products, process industries (oil & gas, petrochemical, mining, pulp and paper, etc.), and transportation components (automotive, aerospace, etc.).Business (Item 1)
National accounts
earns from · 65% of our consolidated sales in 2025National accounts represent the largest proportion of our contract business, accounting for 65% of our consolidated sales in 2025.Business (Item 1)
Also named by URI
State and local government contracts
subject tonamed as a riskAny such violations could result in the imposition of fines and penalties, damage to our reputation, and, in the case of laws and regulations relating specifically to governmental contracts, the loss of those contracts.Risk factors (Item 1A)
Non-residential construction
earns fromThe first and fourth quarters of each year are typically our lower volume periods, given their overlap with winter months in North America during which our direct and indirect material sales to customers in the non-residential construction market typically slow due to inclement weather.Business (Item 1)
Suppliers
Single largest inventory supplier
depends on · more than 5% of our inventory purchasesDuring 2025, we had a single supplier that accounted for more than 5% of our inventory purchases, whereas all remaining suppliers fell below that threshold.Business (Item 1)
Industrial vending equipment supplier
depends onnamed as a riskIn addition, we currently choose to rely on a limited number of suppliers for our vending devices, RFID technology, and IR technology used in our FASTVend and FASTBin platforms.Risk factors (Item 1A)
Other companies
Private label brands (Body Guard, ORMADUS)
earns from · approximately 11% of our consolidated sales in 2025These private label brands represented approximately 11% of our consolidated sales in 2025.Business (Item 1)
FASTCO Trading Co., Ltd.
depends onnamed as a riskWe have made significant structural investments over time to be able to source both directly from Asia through our wholly-owned, Asia-based subsidiary, FASTCO Trading Co., Ltd., and indirectly from suppliers that procure product from international sources.Risk factors (Item 1A)
Places
China
depends onnamed as a riskChina represents a significant source of product for North America.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Taiwan
depends onnamed as a riskWithin Asia, suppliers in China and Taiwan represent a significant source of product.Business (Item 1)
Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more
Asia
concentrated innamed as a riskIn the case of fasteners and our private label non-fastener products, we have a large number of suppliers but these suppliers are heavily concentrated in a single geographic area, Asia.Business (Item 1)
Also named by AAPL, AYI, CART, CB, CDW, CHD, CLS, COHR and 31 more
Commodities and inputs
Fasteners
earns from · 30.5% of our consolidated sales in 2025Our fastener product line, which is primarily sold under the Fastenal product name, represented 30.5% of our consolidated sales in 2025.Business (Item 1)
Safety supplies
earns from · 22.2% of our consolidated sales in 2025The largest category of non-fastener products is our safety supplies product line, which accounted for 22.2% of our consolidated sales in 2025.Business (Item 1)
Steel
exposed to its pricenamed as a riskWe are exposed to the impacts of commodity steel pricing and our related ability to pass through the impacts to our end customers.Market risk (Item 7A)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Diesel fuel
exposed to its pricenamed as a riskWe have market risk for changes in prices of oil, gasoline, diesel fuel, natural gas, and electricity, largely due to our consumption of fuel in our vehicles and utility costs at our facilities.Market risk (Item 7A)
Also named by ADM, BLDR, BTU, CAH, CHD, CHRW, COST, CP and 43 more
Canadian dollar
exposed to its pricenamed as a riskHistorically, our primary exchange rate exposure has been with the Canadian dollar as our Mexican activities are primarily conducted in U.S. dollars and our non-North American operations are relatively small in scale.Risk factors (Item 1A)
Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more
Ocean container shipping
exposed to its pricenamed as a riskFluctuations in the cost of tariffs and overseas shipping containers can be affected by the length of our supply chain, contractually agreed upon rates, or differences in rates between routes.Market risk (Item 7A)
Also named by HLIO
Laws and programs
General Data Protection Regulation (GDPR)
subject tonamed as a riskPrivacy security laws and regulations, including the European Union General Data Protection Regulation 2016, the California Consumer Protection Act, and other similar privacy laws, pose increasingly complex compliance challenges, which may increase compliance costs, and any failure to comply with data privacy laws and regulations could result in significant penalties.Risk factors (Item 1A)
Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more
U.S. tariffs on imports (2025)
subject tonamed as a riskSince February 2025, the U.S. government has imposed additional duties and tariffs in an effort to promote U.S. production of goods and improved trade balance with our global trading partners.Risk factors (Item 1A)
Also named by AAP, ABT, ALLY, ATR, AZO, BBW, BWA, CMG and 19 more
U.S.-Canada-Mexico trade relations
subject tonamed as a riskAny trading disruption (tariffs, product restrictions, etc.) between Canada, the U.S., and Mexico, or disruption in their respective trading relationships with other nations can adversely impact our business.Risk factors (Item 1A)
Technology
Fastenal Managed Inventory (FMI)
earns from · 44.7%named as a riskOur 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.Risk factors (Item 1A)