快扣 2025年度报告

(Mark One) Annual report pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934For the fiscal year ended December 31, 2025, or Commission file number 0-16125 FASTENAL COMPANY (Exact name of registrant as specified in its charter) (507) 454-5374(Registrant's telephone number, including area code) Securities registered pursuant to Section12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act. YesNo Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2)has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reportingcompany", and "emerging growth company" in Rule 12b-2 of the Exchange Act. AcceleratedFiler☐SmallerReportingCompany☐Emerging Growth Company☐ Large Accelerated FilerNon-accelerated Filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant's executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No The aggregate market value of the Common Stock held by non-affiliates of the registrant as of June30, 2025, the last business day of theregistrant's most recently completed second fiscal quarter, was $48,111,881,160, based on the closing price of the registrant's CommonStock on that date. For purposes of determining this number, all executive officers and directors of the registrant as of June 30, 2025 areconsidered to be affiliates of the registrant. This number is provided only for the purposes of this report on Form 10-K and does notrepresent an admission by either the registrant or any such person as to the status of such person. As of January21, 2026, the registrant had 1,148,179,210 shares of Common Stock issued and outstanding. FASTENAL COMPANYANNUAL REPORT ON FORM 10-KTABLE OF CONTENTS PART I Item1.Business2Item1A.Risk Factors16Item 1B.Unresolved Staff Comments24Item 1C.Cybersecurity25Item 2.Properties27Item 3.Legal Proceedings28Item 4.Mine Safety Disclosures28PART IIItem 5.Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of EquitySecurities28Item 6.Reserved29Item 7.Management's Discussion and Analysis of Financial Condition and Results of Operations30Item 7A.Quantitative and Qualitative Disclosures About Market Risk42Item 8.Financial Statements and Supplementary Data43Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure65Item 9A.Controls and Procedures65Item 9B.Other Information66Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections66PART IIIItem 10.Directors, Executive Officers, and Corporate Governance66Item 11.Executive Compensation66Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters66Item 13.Certain Relationships and Related Transactions, and Director Independence66Item 14.Principal Accountant Fees and Services66PART IVItem 15.Exhibits and Financial Statement Schedules67Item 16.Form 10-K Summary68Signatures69 DOCUMENTS