Flagship explainer

What drives FASTENAL CO’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity33%Tax burden76%net income ÷ pretax incomeInterest burden100%pretax ÷ operating incomeOperating margin20%operating income ÷ revenueAsset turnover1.68×revenue ÷ average assetsEquity multiplier1.29×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$1.3BFY2025
Income before tax$1.7BFY2025
Operating income$1.7BFY2025
$8.2BFY2025
Ending assets$5.1BFY2025
Beginning assets$4.7BFY2024
$3.9BFY2025
$3.6BFY2024
Source: · event Dec 31, 2025 · retrieved Oct 15, 2026 · annual-row source set
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