FAST Stock: Profit Jumped. Why Did Cash Lag? — Q3 2026

Fastenal (FAST) Q3 2026 — FAST closed at $50.38 on October 15, down 3.1% from the prior close; release clock unconfirmed.

Fastenal grew quarterly profit 19.7%, but cash after gross capital spending grew only 6.4%. Customer collections and investment decide how much growth reaches owners.

THE CALL: SELL (3/5, MEDIUM) — Rounded cash-led base DCF ~$26 vs ~$50.38 October 15 closing common share price.

KEY METRICS:

- Revenue $2,463.3m, +15.5%; net income $401.6m, +19.7%

- Operating cash $421.6m; gross-capex FCF $347.6m, +6.4%

- Receivables grew 19.9%; net cash $111.9m excluding leases

- SELL, conviction 3/5; cash-led base anchor $26; reference price $50.38

What to watch: Reassess near $20.80 only with intact cash quality; watch receivable days, CFO conversion, gross margin and capital productivity.

Full research packet: https://chargedalpha.com/research/fast-q3-2026

Also on YouTube: @ChargedAlpha

DISCLAIMER: For informational and educational purposes only. Not financial advice. Do your own research before any investment decision.