Selling, General, and Administrative Costs: Fastenal Company vs Snap-on Incorporated

A Tale of Two Companies: Fastenal vs. Snap-on

In the ever-evolving landscape of industrial supply and tool manufacturing, Fastenal Company and Snap-on Incorporated have carved out significant niches. Over the past decade, Fastenal has consistently outpaced Snap-on in terms of Selling, General, and Administrative (SG&A) expenses, reflecting its expansive growth strategy. From 2014 to 2023, Fastenal's SG&A expenses surged by approximately 71%, peaking in 2023. In contrast, Snap-on's expenses grew by about 19% over the same period, indicating a more conservative approach.

Key Insights

Fastenal's aggressive expansion is evident, with its SG&A expenses reaching nearly double that of Snap-on by 2023. However, data for 2024 is incomplete, leaving room for speculation on Snap-on's strategic moves. This comparison highlights the diverse strategies of two industry giants, offering insights into their operational priorities and market positioning.