VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Fastenal Company vs Republic Services, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Fastenal Company

FAST · NASDAQ

Market cap (USD)$53.1B
Gross margin (TTM)45%
Operating margin (TTM)20.2%
Net margin (TTM)15.4%
SectorIndustrials
IndustryIndustrial - Distribution
CountryUS
Data as of2026-01-06
Moat score
57/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Fastenal Company's moat claims, evidence, and risks.

View FAST analysis

Republic Services, Inc.

RSG · New York Stock Exchange

Market cap (USD)$68.5B
Gross margin (TTM)30.3%
Operating margin (TTM)20%
Net margin (TTM)12.9%
SectorIndustrials
IndustryWaste Management
CountryUS
Data as of2025-12-31
Moat score
80/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Republic Services, Inc.'s moat claims, evidence, and risks.

View RSG analysis

Comparison highlights

  • Moat score gap: Republic Services, Inc. leads (80 / 100 vs 57 / 100 for Fastenal Company).
  • Segment focus: Fastenal Company has 2 segments (55.7% in Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)); Republic Services, Inc. has 2 segments (88.5% in Recycling & Waste Services).
  • Primary market structure: Competitive vs Competitive. Pricing power: Weak vs Moderate.
  • Moat breadth: Fastenal Company has 4 moat types across 2 domains; Republic Services, Inc. has 7 across 3.

Primary market context

Fastenal Company

Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)

Market

Wholesale distribution of industrial and construction supplies (fasteners, safety, tools, and other MRO/OEM consumables)

Geography

Primarily North America (with growing international presence)

Customer

Manufacturing (OEM and MRO), non-residential construction, and other commercial customers

Role

Distributor

Revenue share

55.7%

Republic Services, Inc.

Recycling & Waste Services

Market

Integrated non-hazardous solid waste collection, transfer, landfill disposal & recycling services

Geography

United States and Canada

Customer

Municipal, commercial, industrial

Role

Integrated hauler and disposal operator

Revenue share

88.5%

Side-by-side metrics

Fastenal Company
Republic Services, Inc.
Ticker / Exchange
FAST - NASDAQ
RSG - New York Stock Exchange
Market cap (USD)
$53.1B
$68.5B
Gross margin (TTM)
45%
30.3%
Operating margin (TTM)
20.2%
20%
Net margin (TTM)
15.4%
12.9%
Sector
Industrials
Industrials
Industry
Industrial - Distribution
Waste Management
HQ country
US
US
Primary segment
Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)
Recycling & Waste Services
Market structure
Competitive
Competitive
Market share
n/a
12%-15% (implied)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
57 / 100
80 / 100
Moat domains
Supply, Demand
Legal, Supply, Demand
Last update
2026-01-06
2025-12-31

Moat coverage

Shared moat types

Service Field Network

Fastenal Company strengths

Data Workflow LockinProcurement InertiaOperational Excellence

Republic Services, Inc. strengths

Permits Rights Of WayCapacity MoatPhysical Network DensityScope EconomiesLong Term ContractsCompliance Advantage

Segment mix

Fastenal Company segments

Full profile >

Fastenal Managed Inventory (FMI)

Competitive

44.3%

Core industrial & construction supplies distribution (branches, Onsite, eBusiness excl. FMI)

Competitive

55.7%

Republic Services, Inc. segments

Full profile >

Recycling & Waste Services

Competitive

88.5%

Environmental Solutions

Competitive

11.5%

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Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.