Ferguson plc

FERG · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986
Valuation
Market cap	$46,027	$44,819	$44,842	$33,032	$26,643	$30,885	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$23,386	$23,305	$23,233	$23,192	$23,152	$23,071	$22,958	$22,465	$22,227	$10,753	$9,714	$9,092	$8,602	$8,548	$8,536	$6,194	$3,834	$3,814
Enterprise value	$52,000	$50,111	$49,788	$37,689	$31,000	$33,152	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	$25,001	$24,427	$24,527	$24,164	$24,076	$23,519	$23,413	$22,854	$22,633	$11,080	$10,004	$9,385	$8,720	$8,716	$8,662	$6,304	$3,900	$3,926
P/E (TTM) at period end	69.11×	24.15×	25.85×	17.49×	12.56×	20.98×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	48.66×	51.70×	88.13×	81.05×	71.82×	80.23×	79.25×	88.93×	84.83×	52.11×	81.18×	80.11×	102.83×	59.05×	65.85×	57.13×	51.71×	81.84×
P/S (TTM) at period end	5.26×	1.46×	1.51×	1.11×	0.93×	1.36×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.77×	1.87×	2.27×	2.42×	2.59×	2.97×	3.04×	3.35×	3.67×	2.17×	2.63×	2.43×	2.94×	2.50×	3.12×	2.82×	2.46×	3.46×
P/B at period end	7.42×	7.69×	7.98×	6.56×	5.71×	6.17×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	8.18×	9.31×	10.90×	11.69×	13.05×	14.74×	16.62×	18.47×	21.84×	12.63×	15.51×	13.81×	14.61×	14.60×	17.03×	13.90×	10.75×	12.78×
EV / EBITDA (TTM)	47.75×	16.82×	16.67×	12.65×	9.93×	14.75×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	28.95×	29.48×	36.02×	37.64×	42.15×	43.38×	45.29×	49.49×	48.10×	29.99×	41.21×	37.88×	–	–	–	–	–	–
EV / Sales (TTM)	5.94×	1.63×	1.68×	1.27×	1.09×	1.45×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.89×	1.96×	2.39×	2.52×	2.70×	3.02×	3.10×	3.40×	3.73×	2.23×	2.71×	2.50×	2.98×	2.55×	3.17×	2.87×	2.51×	3.56×
Returns
Return on equity	10.7%	31.8%	30.9%	37.5%	45.5%	29.4%	22.0%	25.5%	31.2%	20.3%	22.7%	8.2%	17.5%	9.5%	1.8%	8.0%	(11.1%)	(30.7%)	2.2%	13.7%	20.7%	20.8%	20.9%	16.8%	18.0%	12.4%	14.4%	18.2%	18.4%	21.0%	20.8%	25.7%	24.2%	19.1%	17.2%	14.2%	24.7%	25.9%	24.3%	20.8%	15.6%
Return on invested capital	5.8%	17.9%	17.7%	21.0%	24.2%	23.5%	15.5%	20.2%	18.8%	20.8%	12.6%	10.2%	13.8%	8.7%	2.0%	8.3%	(5.5%)	7.3%	5.5%	9.1%	12.0%	13.5%	13.6%	11.1%	13.2%	10.3%	11.3%	11.3%	14.5%	15.8%	15.9%	18.5%	17.4%	13.8%	12.5%	–	–	–	–	–	–
Dividend yield	0.8%	1.1%	1.7%	2.2%	2.0%	3.4%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.8%	–	3.4%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	1.73×	1.68×	1.80×	1.67×	1.65×	1.72×	1.70×	1.72×	1.64×	1.45×	1.47×	1.38×	1.50×	1.52×	1.70×	1.69×	1.30×	1.48×	1.43×	1.42×	1.79×	1.65×	1.63×	1.64×	1.68×	1.69×	1.68×	1.52×	1.76×	1.72×	1.81×	1.75×	1.77×	1.84×	1.40×	1.85×	1.70×	1.72×	1.72×	1.74×	1.71×
Debt / equity	0.79×	0.71×	0.70×	0.75×	0.84×	0.55×	0.72×	0.54×	0.47×	0.71×	0.65×	0.74×	0.33×	0.25×	0.25×	0.28×	0.38×	0.58×	0.90×	0.84×	1.03×	0.79×	0.75×	0.69×	0.58×	0.78×	0.59×	0.71×	0.67×	0.66×	0.71×	0.86×	0.91×	0.92×	0.88×	0.30×	0.39×	0.44×	0.43×	0.22×	0.39×
Effective tax rate	21.3%	23.4%	29.6%	23.3%	22.5%	12.5%	23.5%	19.9%	29.1%	26.0%	31.1%	36.8%	28.7%	38.3%	69.7%	28.1%	(11.6%)	4.4%	39.3%	25.2%	30.2%	28.0%	29.0%	30.0%	29.8%	36.4%	36.8%	34.9%	35.7%	33.0%	33.0%	33.0%	33.0%	33.0%	35.0%	38.0%	35.0%	35.0%	34.9%	37.4%	37.1%
Share count
Diluted shares outstanding	194	199	204	207	219	225	227	232	248	240	242	247	253	264	262	250	247	184	575	567	524	520	517	512	507	505	504	503	501	499	488	483	234	211	197	187	186	185	135	83	83

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986
Revenue and gross profit
Revenue	$8,751	$30,762	$29,635	$29,734	$28,566	$22,792	$19,940	$22,010	$20,752	$19,284	$16,581	$20,801	$20,747	$20,045	$21,084	$22,250	$20,726	$24,127	$29,375	$33,010	$26,453	$20,803	$18,454	$13,242	$12,463	$10,247	$9,603	$8,922	$7,776	$7,548	$6,715	$6,060	$4,966	$3,688	$3,749	$2,925	$3,416	$2,732	$2,193	$1,556	$1,102
Cost of revenue	($6,039)	($21,327)	($20,582)	($20,709)	($19,810)	($15,812)	($13,957)	($15,550)	($14,708)	($13,701)	($11,835)	($14,984)	($14,985)	($14,477)	($15,276)	($16,043)	($15,134)	($17,482)	($21,085)	($23,814)	($19,099)	($15,118)	($13,369)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Gross profit	$2,712	$9,435	$9,053	$9,025	$8,756	$6,980	$5,983	$6,458	$6,044	$5,583	$4,746	$5,816	$5,762	$5,568	$5,808	$6,207	$5,591	$6,644	$8,291	$9,196	$7,354	$5,685	$5,085	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($2)	($4)	($5)	($6)	($7)	($5)	($4)	($2)	($3)	($3)	($4)	($3)	($2)	–	–
Selling, general and administrative	($1,718)	($6,376)	($6,038)	($5,920)	($5,635)	($4,732)	($4,329)	–	–	–	–	–	–	–	–	–	($5,397)	($5,174)	($5,550)	($6,020)	($5,524)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total operating expenses	($1,819)	($6,829)	($6,401)	($6,366)	($5,936)	($5,030)	($4,611)	($5,056)	($4,684)	($4,105)	($3,807)	($4,949)	($4,570)	($4,812)	($5,475)	($5,457)	($5,901)	($6,053)	($7,190)	($7,664)	($5,796)	($4,453)	($4,028)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Total costs and expenses	($7,858)	($28,156)	($26,983)	($27,075)	($25,746)	($20,842)	($18,568)	($20,608)	($19,392)	($17,806)	($15,642)	($19,933)	($19,555)	($19,290)	($20,751)	($21,500)	($21,035)	($23,535)	($28,275)	($31,477)	($24,894)	($19,571)	($17,397)	($12,528)	($11,779)	($9,688)	($9,072)	($8,452)	($7,323)	($7,115)	($6,332)	($5,660)	($4,654)	($3,494)	($3,563)	–	–	–	–	–	–
Operating income	$893	$2,606	$2,652	$2,659	$2,820	$1,950	$1,372	$1,402	$1,360	$1,478	$939	$867	$1,192	$756	$333	$750	($309)	$591	$1,101	$1,532	$1,558	$1,232	$1,057	$714	$684	$559	$531	$471	$453	$434	$384	$400	$312	$194	$186	–	–	–	–	–	–
Earnings
EBITDA	$1,089	$2,979	$2,987	$2,980	$3,121	$2,248	$1,654	$1,690	$1,605	$1,905	$1,319	$1,515	$1,454	$1,100	$1,178	$1,114	$130	$1,154	$1,705	$2,163	$1,909	$1,447	$1,314	$864	$829	$681	$642	$571	$542	$517	$462	$471	$369	$243	$248	–	–	–	–	–	–
Interest income	–	–	–	–	–	–	–	$17	$8	–	–	$2	$2	$5	$3	$11	$22	$113	$143	$118	$92	$47	$46	$31	$69	$43	$50	$62	$68	$54	$49	$55	$38	$33	$25	$4	$8	$8	$4	$5	$5
Interest expense	($52)	($190)	($179)	($184)	($111)	($98)	($93)	($97)	($67)	($64)	($50)	($61)	($46)	($79)	($35)	($78)	($104)	($311)	($407)	($362)	($213)	($114)	($83)	($58)	($110)	($93)	($92)	($68)	($65)	($54)	($55)	($61)	($41)	($47)	($35)	($18)	($25)	($19)	($10)	($9)	($6)
Pre-tax income	$846	$2,423	$2,464	$2,464	$2,708	$1,862	$1,272	$1,324	$1,187	$1,423	$892	$793	$1,143	$701	$311	$642	($515)	($1,204)	$791	$1,290	$1,437	$1,167	$1,019	$686	$642	$415	$453	$497	$448	$433	$378	$393	$309	$179	$175	$135	$223	$200	$167	$120	$75
Income tax expense	($180)	($567)	($729)	($575)	($609)	($232)	($299)	($263)	($346)	($370)	($277)	($292)	($328)	($268)	($217)	($181)	($60)	$53	($311)	($326)	($433)	($326)	($295)	($206)	($192)	($151)	($167)	($173)	($160)	($143)	($125)	($130)	($102)	($59)	($61)	($51)	($78)	($70)	($58)	($45)	($28)
Net income	$666	$1,856	$1,735	$1,889	$2,122	$1,472	$961	$1,108	$1,267	$920	$871	$332	$852	$444	$90	$445	($534)	($1,716)	$147	$965	$1,003	$840	$723	$481	$451	$264	$286	$322	$288	$290	$253	$262	$206	$120	$113	$84	$145	$130	$108	$74	$47
Per share
Diluted EPS (GAAP)	$3.43	$9.32	$8.53	$9.12	$9.69	$6.55	$4.24	$4.78	$5.12	$4.39	$3.55	$1.35	$3.22	$1.71	$0.34	$1.78	($2.16)	($9.32)	$0.25	$1.70	$1.92	$1.62	$1.40	$0.94	$0.88	$0.52	$0.57	$0.64	$0.57	$0.58	$0.52	$0.54	$0.88	$0.57	$0.58	$0.45	$0.78	$0.70	$0.81	$0.89	$0.56
Basic EPS (GAAP)	$3.44	$9.33	$8.55	$9.15	$9.75	$6.59	$4.27	$4.81	$5.16	$4.42	$3.58	$1.35	$3.39	$1.73	$0.34	$1.79	($2.16)	($9.32)	$0.26	$1.71	$1.93	$1.63	$1.42	$0.95	$0.89	$0.52	$0.57	$0.64	$0.57	$0.58	$0.52	$0.54	$0.88	$0.57	$0.58	$0.45	$0.78	$0.70	$0.81	$0.89	$0.56
Basic shares outstanding	194	199	203	206	218	224	225	230	246	238	240	246	252	261	260	248	247	184	574	565	519	515	511	508	506	505	504	503	501	499	488	483	234	211	197	187	186	185	135	83	83
Margins
Gross margin	31.0%	30.7%	30.5%	30.4%	30.7%	30.6%	30.0%	29.3%	29.1%	29.0%	28.6%	28.0%	27.8%	27.8%	27.5%	27.9%	27.0%	27.5%	28.2%	27.9%	27.8%	27.3%	27.6%	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Operating margin	10.2%	8.5%	8.9%	8.9%	9.9%	8.6%	6.9%	6.4%	6.6%	7.7%	5.7%	4.2%	5.7%	3.8%	1.6%	3.4%	(1.5%)	2.5%	3.7%	4.6%	5.9%	5.9%	5.7%	5.4%	5.5%	5.5%	5.5%	5.3%	5.8%	5.7%	5.7%	6.6%	6.3%	5.3%	5.0%	–	–	–	–	–	–
Net margin	7.6%	6.0%	5.9%	6.4%	7.4%	6.5%	4.8%	5.0%	6.1%	4.8%	5.3%	1.6%	4.1%	2.2%	0.4%	2.0%	(2.6%)	(7.1%)	0.5%	2.9%	3.8%	4.0%	3.9%	3.6%	3.6%	2.6%	3.0%	3.6%	3.7%	3.8%	3.8%	4.3%	4.2%	3.2%	3.0%	2.9%	4.2%	4.7%	4.9%	4.8%	4.2%

Analyst consensus

Buy17 analysts

Bearish · 0 · Hold · 4 · Bullish · 13

Earnings history

	EPS	Estimate
Q1 2025	$2.45	$2.62	Miss
Q2 2025	$1.52	$1.58	Miss
Q3 2025	$2.50	$2.01	Beat
Q4 2025	$3.48	$3.01	Beat
Q1 2026	$2.84	$2.77	Beat
Q2 2026	$3.43	$3.48	Miss
Q3 2026	$2.28	$2.16	Beat
Q4 2026	$3.39	$3.31	Beat

Peers

Company overview

IPO dateJan 5, 2010

CEOKevin Murphy

Employees35,000

SectorIndustrials

IndustryIndustrial - Distribution

CountryUS

ExchangeNew York Stock Exchange

Websitewww.corporate.ferguson.com

Ferguson plc operates as a major supplier of plumbing, heating, and related industrial products throughout the United States and Canada. The company serves a diverse client base, providing essential solutions for residential, commercial, civil/infrastructure, and industrial projects. Its extensive product range encompasses core plumbing and heating supplies, such as pipes, valves, fittings, water heaters, and a variety of kitchen and bathroom fixtures and appliances. Beyond these essentials, Ferguson also provides heating, ventilation, air conditioning, and refrigeration (HVAC/R) equipment, as well as fire sprinkler systems and associated components. The company's offerings further extend to specialized water management products like water meters, irrigation and drainage systems, geosynthetics, and stormwater control solutions. Industrial customers can access a broad selection of flanges, general industrial maintenance, repair, and operations (MRO) products, high-density polyethylene (HDPE) materials, custom fabrication products, water and wastewater treatment solutions, and comprehensive pipe, valve, and fitting (PVF) systems. To support its clientele, Ferguson delivers a comprehensive array of services, including expert consultation, strategic advice, and project management. They offer convenient pro pick-up and delivery options, alongside a suite of online tools. Additional support features include quotation services, jobsite delivery and logistics management, advanced digital estimation and design capabilities, specialized advanced metering infrastructure (AMI) services, and supply chain management with equipment rental. Ferguson plc also facilitates product sales through its online platforms. The company maintains a significant operational footprint, boasting a network of 1,679 branches and 11 distribution centers. Established in 1887, Ferguson plc is headquartered in Wokingham, United Kingdom.

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