Fastenal Company stock research
FY2025 Q1
Fastenal (FAST) Gross Margin — Quarter Ended Mar 31, 2025
Revenue increased compared to both the previous quarter and the same quarter last year. Gross margin improved compared to the prior quarter but weakened compared to the year-ago period.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue increased compared to both the previous quarter and the same quarter last year. Gross margin improved compared to the prior quarter but weakened compared to the year-ago period.
- The strongest observable margin driver is the change in cost of revenue relative to revenue. Sequentially, revenue grew faster than cost of revenue, improving margin; year over year, cost of revenue grew faster than revenue, compressing margin.
- Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
45.1%
Gross profit
$883.9M
Revenue
$2.0B
Cost of revenue
$1.1B
Quarter-over-quarter change
+0.3 pts
Year-over-year change
-0.4 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2024 | $1.9B | $863.5M | $1.1B | 45.1% |
| Sep 30, 2024 | $1.9B | $858.6M | $1.1B | 44.9% |
| Dec 31, 2024 | $1.8B | $818.2M | $1.0B | 44.8% |
| Mar 31, 2025 | $2.0B | $883.9M | $1.1B | 45.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
+0.3 pts
Year-over-year change
Mar 31, 2024
-0.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the change in cost of revenue relative to revenue. Sequentially, revenue grew faster than cost of revenue, improving margin; year over year, cost of revenue grew faster than revenue, compressing margin.
Compared to the immediately preceding quarter, gross margin improved. Compared to the same quarter one year earlier, gross margin weakened.
Monitor the trajectory of cost of revenue relative to revenue, as the company's filing highlights changes in working capital and inventories.