Cost of Revenue: A Tale of Two Giants

In the ever-evolving landscape of industrial and construction equipment, CNH Industrial N.V. and Fastenal Company stand as titans. Over the past decade, CNH Industrial has consistently outpaced Fastenal in terms of cost of revenue, with figures peaking in 2014 at approximately 25.5 billion USD. However, a notable shift occurred in 2022, when CNH's cost of revenue dropped by 34% from its 2021 high, while Fastenal's continued to rise, reaching nearly 4 billion USD by 2023.

A Decade of Change

From 2014 to 2023, Fastenal's cost of revenue grew by over 117%, reflecting its expanding market presence. Meanwhile, CNH Industrial experienced fluctuations, with a significant decline in recent years. This divergence highlights the dynamic nature of the industry and the strategic adaptations of these companies. As we look to the future, the data suggests a potential shift in market dynamics, with Fastenal gaining ground.