---
title: "Fastenal: Business Model"
description: "Fastenal revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/fastenal/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Fastenal: Business Model & Revenue Engine

## Direct Answer

Fastenal reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Reportable Segment Aggregation Before Other Operating is the largest, with $6.8 billion of revenue (83% of the total), followed by All Other at $1.4 billion (17%). 83% of revenue came from the United States.

## How Does Fastenal Make Money?

Reportable Segment Aggregation Before Other Operating supplies 83% of revenue, so Fastenal's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Reportable Segment Aggregation Before Other Operating grew fastest (+8.7%) and All Other slowest (+8.5%), so the revenue mix tilts toward Reportable Segment Aggregation Before Other Operating while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Reportable Segment Aggregation Before Other Operating | $6.8 billion | $6.3 billion | 83.2% | 8.7% |
| All Other | $1.4 billion | $1.3 billion | 16.8% | 8.5% |

![Bar chart of Fastenal revenue by segment for fiscal 2025: Reportable Segment Aggregation Before Other Operating 83.2%, All Other 16.8%.](https://www.getswoopr.com/images/charts/fastenal-business-model-segment-mix.webp)
*Fastenal revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does Fastenal's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $6.8 billion | $6.3 billion | 83.2% | 8.7% |
| Canada and Mexico | $1.1 billion | $1.0 billion | 13.5% | 7.2% |
| Non North America | $271 million | $237 million | 3.3% | 14.4% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of Fastenal's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Fastenal reported in the segment note and revenue disclosures of its Form 10-K filed February 5, 2026 (accession 0000815556-26-000009), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Fastenal's business segments?

In its fiscal 2025 Form 10-K, Fastenal reports revenue for Reportable Segment Aggregation Before Other Operating and All Other.

### Which part of Fastenal brings in the most revenue?

Reportable Segment Aggregation Before Other Operating, with $6.8 billion of revenue in fiscal 2025, or 83% of the total.

### How much of Fastenal's revenue comes from outside the United States?

17% in fiscal 2025, by the geographic breakdown Fastenal reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: FASTENAL CO Form 10-K filed February 5, 2026](https://www.sec.gov/Archives/edgar/data/815556/000081555626000009/fast-20251231.htm)
- [SEC EDGAR: FASTENAL CO annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=815556&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Fastenal company dossier](https://www.getswoopr.com/stocks/companies/fastenal/)
- [Fastenal financial metrics](https://www.getswoopr.com/stocks/companies/fastenal/metrics/)
- [Fastenal financial risk indicators](https://www.getswoopr.com/stocks/companies/fastenal/risks/)
- [Fastenal peer comparison](https://www.getswoopr.com/stocks/companies/fastenal/competitors/)
- [Fastenal business model and revenue mix](https://www.getswoopr.com/stocks/companies/fastenal/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).