Mansco
10-K - Feb 6, 2020
The daily sales growth rates of fasteners noted in the table above for first quarter of 2018, and the second, third, and fourth quarters of 2017, include 3.7, 3.6, 3.8, and 3.9 percentage points, r...
SE‑ClusterEnvironmental Services
Tear SheetSource: SEC EDGAR
Fastenal Co.
FASTActiveCIK 815556 · Consumer & Specialty Distribution
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, FAST filings, SEC EDGAR
$50,709
Market cap ($MM)
$50,846
Enterprise value ($MM)
$8,443
Revenue · LTM ($MM)
$1,803
EBITDA · LTM ($MM)
21%
EBITDA margin
6.0x
EV / revenue
28.2x
EV / EBITDA
-0.1x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01FAST is a scaled public consolidator in Distribution, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is SHW, POOL, AZO, ORLY.
Balance sheet & capacity
Indicative capacity read: -0.1x net debt / EBITDA with EBITDA of $1.8B.
$309
Cash & equiv. ($MM)
$125
Total debt ($MM)
($184)
Net debt ($MM)
-0.1x
Net debt / EBITDA
Valuation
Where it trades against its peer set
FAST versus the scaled public Consumer & Specialty Distribution comparables.
Indexed share-price performance
FAST versus available Consumer & Specialty Distribution peers and SPY.
+68%
FAST
N/A
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| Fastenal Co. | FAST | $8,443 | $1,803 | 21% | $50,709 | $50,846 | 6.0x | 28.2x | -0.1x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
FAST's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
5
Active years
2
Named deals
4
Avg / active year
2.5
Acq. cash outflow ($MM)
N/A
Banker read
- 01FAST reads as a programmatic acquirer: 5 disclosed acquisitions across 2 active years, or 2.5 per active year. The chart shows activity in 2 of the last 2 visible years.
- 02In the last three years, the file shows 2 acquisitions versus 0 in the prior three; recent activity is the visible baseline.
- 03Spend changes the read: $61.2MM of disclosed spend is concentrated in lumpy years, with FY17 the largest year at $61.2MM. Recent spend is the visible baseline.
Annual acquisitions + disclosed spend
count spend named deal
FAST count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
2 / 0
Last three years sets the visible baseline vs prior three.
Peak count year
FY14
1 disclosed acquisitions in the peak visible year.
Recent spend
$61.2MM
sets the visible baseline vs prior three; peak FY17 at $61.2MM.
Named evidence
4 rows
80% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Mar 31, 2017 | Mansco | Consumer specialty distribution compounders | N/A | The daily sales growth rates of fasteners noted in the table above for first quarter of 2018, and the second, third, and fourth quarters of 2017, include 3.7, 3.6, 3.8, and 3.9... | 10-K† |
| Mar 31, 2017 | Mansco | Consumer specialty distribution compounders | N/A | The daily sales growth rates of fasteners noted in the table above for the second, third, and fourth quarters of 2017, include 3.6, 3.8, and 3.9 percentage points, respectively,... | 10-K† |
| Jan 1, 2015 | Fasteners, Inc. | Consumer specialty distribution compounders | N/A | in 2015, our acquisition of certain assets of Fasteners, Inc., a regional industrial construction supply distributor with store locations in the states of Washington, Idaho, Ore... | 10-K† |
| Oct 1, 2014 | Av-Tech Industries, Inc. | Consumer specialty distribution compounders | N/A | On October 1, 2014 we acquired certain assets of Av-Tech Industries, Inc., a wholesale distributor of aerospace fasteners, electronic components, and miscellaneous aircraft part... | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 8 SEC-backed facts across 4 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
19
Named deal filings
4
Recent SEC filings
0
Evidence clips
4
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.19 rows+-
| Fiscal year | Filing date | Form | Status | Count | Cash spend | Purchase consideration | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | Feb 5, 2026 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2024 | Feb 6, 2025 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2023 | Feb 6, 2024 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2022 | Feb 7, 2023 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2021 | Feb 7, 2022 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2020 | Feb 8, 2021 | Annual M&A 10-K | warning (1 warn) | N/A | $125MM | N/A | SEC filing |
| FY2019 | Feb 6, 2020 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2018 | Feb 6, 2019 | Annual M&A 10-K | warning (1 warn) | N/A | $3.7MM | N/A | SEC filing |
| FY2017 | Feb 5, 2018 | Annual M&A 10-K | accepted | 1 | $58.7MM | $61.2MM | SEC filing |
| FY2016 | Feb 6, 2017 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2015 | Feb 5, 2016 | Annual M&A 10-K | warning (1 warn) | N/A | $23.5MM | N/A | SEC filing |
| FY2014 | Feb 5, 2015 | Annual M&A 10-K | warning (1 warn) | 1 | $5.6MM | N/A | SEC filing |
| FY2013 | Feb 6, 2014 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2012 | Feb 7, 2013 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2011 | Feb 9, 2012 | Annual M&A 10-K | warning (1 warn) | N/A | N/A | N/A | SEC filing |
| FY2010 | Feb 9, 2011 | Annual M&A 10-K | warning (1 warn) | N/A | N/A | N/A | SEC filing |
| FY2009 | Feb 9, 2010 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2008 | Feb 20, 2009 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2003 | Feb 25, 2004 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.4 rows+-
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Feb 6, 2020 | 10-K | Mansco | Annual M&ANamed deals | SEC filing |
| Feb 5, 2018 | 10-K | Mansco | Annual M&ANamed deals | SEC filing |
| Feb 5, 2016 | 10-K | Fasteners, Inc. | Annual M&ANamed deals | SEC filing |
| Feb 5, 2015 | 10-K | Av-Tech Industries, Inc. | Annual M&ANamed deals | SEC filing |
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+-
No filing source clears this category.
Evidence clipsShort excerpts used on the page; expand only when you want the language.4 rows+-
Medium
Mansco acquisition
10-K - Feb 5, 2018
The daily sales growth rates of fasteners noted in the table above for the second, third, and fourth quarters of 2017, include 3.6, 3.8, and 3.9 percentage points, respectively, attributable to Man...
Acquisition of certain assets of Fasteners, Inc.
10-K - Feb 5, 2016
in 2015, our acquisition of certain assets of Fasteners, Inc., a regional industrial construction supply distributor with store locations in the states of Washington, Idaho, Oregon, and Montana.
Acquisition of certain assets of Av-Tech Industries, Inc.
10-K - Feb 5, 2015
On October 1, 2014 we acquired certain assets of Av-Tech Industries, Inc., a wholesale distributor of aerospace fasteners, electronic components, and miscellaneous aircraft parts. The business did ...
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.