Ferguson Enterprises Inc. FERG

IndustrialsHomebuilding & Construction SuppliesUnited States of America

Last close 238.68 USD on Nov 1, 2026, +8.9% year to date

Quant rating

Quant rating D Rank 397 of 486 in Industrials

Growth D 434 of 486
Valuation D 439 of 486
Quality D 453 of 486
Revisions C 204 of 486
Momentum C 195 of 486

Wall Street consensus Buy (2.08)Average target 282.48 USD +18.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 46.2B
Enterprise value: 50.6B
52-week range: 212.54 – 271.46
3-year range: 148.02 – 271.46
Dividend yield: 1.49%
Beta (5 years): 1.12
Shares outstanding: 193M
Next earnings: Nov 10, 2026

About the company

Ferguson Enterprises Inc. is a value-added distributor serving specialized professionals in the residential and non-residential North American construction market. The Company’s geographical segments include the United States and Canada. The Company provides a wide range of products and services, such as plumbing, heating, ventilation and air conditioning (HVAC), appliances, and lighting to pipes, valves, and fittings (PVF), water and wastewater solutions, and more. It sells through a common network of distribution centers, branches, counter service and specialist sales associates, showroom consultants and e-commerce channels. The Company serves various industries, such as plumbing, HVAC, commercial / mechanical, facilities supply, fire & fabrication, industrial, builder, waterworks. The Company’s brands include Armateck, Durastar, FNW, National Fire Products, Pollardwater, PROFLO, PROSELECT, Raptor, Signature Hardware, and Westcraft.

Growth and profitability fiscal year ends July 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	12,833	29,635	29,734	28,566	22,792	–
Revenue growth	−56.7%	−0.3%	4.1%	25.3%	14.3%	−8.4%
EPS (basic, normalized)	10.58	–	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	30.6%	30.5%	30.4%	30.7%	30.6%	30.6%
Net margin	6.1%	5.9%	6.4%	7.3%	7.2%	6.6%
ROE	–	32.6%	38.9%	43.4%	34.8%	37.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	437
Current ratio	1.73x
Long-term debt (mil)	4,456
Net debt (mil)	4,467
Total equity (mil)	6,201
Net debt / equity	0.72x
Net debt / EBITDA	1.38x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	12,833	−56.7%	3.9x	3,243	–	15.6x	10.58	–	22.6x
2026	33,178	+158.5%	1.5x	3,549	+9.4%	14.3x	11.39	+7.7%	20.9x
2027	35,299	+6.4%	1.4x	3,785	+6.7%	13.4x	12.65	+11.0%	18.9x
2028	37,337	+5.8%	1.4x	4,082	+7.8%	12.4x	14.04	+11.0%	17.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	33,178	−1.2%	+1.5%	+1.7%	11.39	0.0%	+1.1%	+2.4%
2027	35,299	+0.8%	+2.1%	+2.3%	12.65	+0.1%	+0.7%	+2.2%
2028	37,337	+0.3%	+1.6%	+1.2%	14.04	−0.1%	+1.3%	+2.1%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	–	–	–	–	–	7,495	7,472	8,751
Sales mean (mil)	–	–	–	–	–	–	–	7,575	7,465	8,668
Surprise	–	–	–	–	–	–	–	−1.1%	+0.1%	+1.0%
EPS reported	–	–	–	–	–	–	–	2.10	2.28	3.39
EPS mean	–	–	–	–	–	–	–	2.05	2.22	3.29
Surprise	–	–	–	–	–	–	–	+2.4%	+2.6%	+3.1%

Peer comparison Homebuilding & Construction Supplies

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
FERG Ferguson Enterprises Inc.	46.2B	1.38x	6.1%	7.45x	20.9x	18.9x	14.3x	13.4x
DHI D.R. Horton, Inc.	39.6B	1.23x	10.5%	1.71x	14.0x	12.1x	11.4x	10.5x
PHM PulteGroup, Inc.	23.0B	0.25x	12.8%	1.76x	13.4x	13.1x	9.3x	9.2x
LEN Lennar Corporation	20.7B	1.48x	6.0%	0.96x	17.5x	16.4x	12.5x	12.4x
MAS Masco Corporation	15.5B	2.04x	10.7%	−34.63x	17.1x	17.2x	11.7x	12.0x
CSL Carlisle Companies Incorporated	14.5B	1.91x	14.8%	10.15x	17.9x	15.7x	13.3x	12.3x
Mean		1.38x	10.2%	−2.10x	16.8x	15.6x	12.1x	11.6x
Median		1.43x	10.6%	1.74x	17.3x	16.1x	12.1x	12.1x

Technical analysis

1M+5.0%
3M+3.2%
1Y−1.9%
3Y+65.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Ferguson Enterprises Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	12,833	29,635	29,734	28,566	22,792	19,940
Cost of revenue	8,903	20,582	20,709	19,810	15,812	13,957
Gross profit	3,930	9,053	9,025	8,756	6,980	5,983
Selling, general & administrative expenses	2,677	6,066	5,795	5,620	4,732	4,329
Research & development	–	–	–	–	–	–
Depreciation/amortization	157	335	321	301	298	282
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−3.0	0	250	15.0	–	–
Other operating expenses	0	0	0	0	0	0
Operating income	1,099	2,652	2,659	2,820	1,950	1,372
Net interest income (expense)	−79.0	−179	−184	−111	−98.0	−93.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−17.0	−9.0	−11.0	−1.0	10.0	−7.0
Net income before taxes	1,003	2,464	2,464	2,708	1,862	1,272
Provision for taxes	217	729	575	609	232	299
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	786	1,735	1,889	2,099	1,630	973
Extraordinary items	–	0	0	23.0	−158	−12.0
Net income	786	1,735	1,889	2,122	1,472	961
EBIT, normalized	1,096	2,680	2,909	2,852	1,961	1,495
EBITDA, normalized	1,253	3,015	3,230	3,153	2,259	1,777
Basic EPS, normalized	10.58	–	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Ferguson Enterprises Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	557	571	601	771	1,335	2,124
Receivables	3,312	3,602	3,597	3,610	2,786	2,707
Total inventory	4,588	4,188	3,898	4,333	3,273	2,880
Prepaid expenses	1,031	1,020	953	834	732	335
Other current assets	48.0	29.0	28.0	3.0	3.0	11.0
Total current assets	9,536	9,410	9,077	9,551	8,129	8,057
Property, plant & equipment	3,743	3,317	3,069	2,576	2,407	2,500
Goodwill	2,470	2,357	2,241	2,048	1,828	1,721
Intangibles	685	753	783	782	546	521
Long-term investments	–	–	–	–	–	16.0
Note receivable	–	–	–	–	–	377
Other long-term assets	718	735	824	704	799	264
Total assets	17,152	16,572	15,994	15,661	13,709	13,456
Liabilities
Accounts payable	3,117	3,410	3,408	3,607	3,030	2,855
Payable/accrued	–	–	–	–	–	–
Accrued expenses	455	395	366	321	263	621
Short-term debt	0	0	0	0	0	248
Current portion of long-term debt	148	150	55.0	250	0	564
Other current liabilities	1,405	1,261	1,600	1,621	1,445	461
Total current liabilities	5,125	5,216	5,429	5,799	4,738	4,749
Long-term debt	3,978	3,774	3,711	3,679	2,512	3,709
Minority interest	–	–	–	–	–	–
Other liabilities	2,192	1,966	1,817	1,518	1,456	627
Total liabilities	11,295	10,956	10,957	10,996	8,706	9,085
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	30.0	30.0	30.0	30.0	30.0
Additional paid-in capital	996	864	809	760	704	9.0
Retained earnings (accumulated deficit)	7,167	9,589	8,557	7,594	6,054	5,553
Treasury stock	−1,274	−3,936	−3,471	−2,889	−989	−658
Other equity	−1,032	−931	−888	−830	−796	−563
Total equity	5,857	5,616	5,037	4,665	5,003	4,371
Total liabilities & shareholders' equity	17,152	16,572	15,994	15,661	13,709	13,456

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Ferguson Enterprises Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	786	1,735	1,889	2,122	1,472	961
Depreciation, depletion & amortization	157	335	321	301	298	282
Deferred taxes	80.0	125	–	–	–	–
Non-cash items	65.0	62.0	183	59.0	274	155
Changes in working capital	−229	−384	330	−1,333	−662	147
Cash from operations	859	1,873	2,723	1,149	1,382	1,545
Investing activities
Capital expenditures	−185	−372	−441	−290	−241	−283
Other investing cash flows	21.0	−229	−613	−632	116	−288
Cash from investing	−164	−601	−1,054	−922	−125	−571
Financing activities
Financing cash flow items	−57.0	−41.0	−35.0	−22.0	−49.0	−36.0
Cash dividends paid	−326	−784	−711	−538	−1,036	−327
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−440	−488	−1,061	−184	−966	367
Cash from financing	−823	−1,313	−1,807	−744	−2,051	4.0
Foreign exchange effects	2.0	−3.0	22.0	−40.0	6.0	4.0
Net change in cash	−126	−44.0	−116	−557	−788	982
Free cash flow	674	1,501	2,282	859	1,141	1,262

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.