Moat Category Reinvestment Moat	Fair Value Estimate –	Price  $30.66	Enterprise Value $19.3bn
Moat Type Cost Advs | Process – Scale Ecos.	Economic Moat Wide	Stewardship Rating Standard	Market Cap $17.6bn

What does it do

Fastenal opened its first fastener store in 1967 in Winona, Minnesota. Since then, Fastenal has greatly expanded its footprint as well as its products and services. Today, Fastenal serves its 400,000 active customers through approximately 2,200 stores, 950 on-site locations, and 14 distribution centers. Since 1993, the company has added other product categories, but fasteners remain its largest category at about 35% of sales. Fastenal also offers customers supply-chain solutions, such as vending and vendor-managed inventory.

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