FE
Ferguson Enterprises Inc
FERG—
Ferguson Enterprises Inc AI Insights
Informational only. Not investment advice.Snapshot
- Revenue 31.2B is 9x industry median (3.4B) with asset turnover 1.8x - scale advantage in fragmented distribution market.[Total Revenue TTM]
- ROE 33.4% vs industry median 26.9% while ROIC 16.7% matches median - returns driven by leverage (1.0x D/E), not operational edge.[Return on Equity TTM]
- Goodwill 2.5B is 41% of equity (6.1B) - M&A-driven growth creates impairment risk if acquisition multiples compress.[Goodwill]
Watch Triggers
- EPS Growth 3yr: Falls below 0% or accelerates above 5% — Current 0.7% signals stagnation; direction determines if scale translates to earnings power.
- Goodwill: Impairment charge or goodwill exceeds 50% of equity — At 41% of equity, any write-down materially impacts book value and signals M&A mispricing.
- Operating Margin TTM: Falls below 8% or rises above 10% — Currently 9.0% vs industry median 9.2% - margin compression would negate scale benefits.
Bull Case
Dominant scale (9x median revenue) in fragmented plumbing distribution creates purchasing power and route density advantages competitors cannot replicate.
Total Revenue TTMAsset Turnover TTM
Dividend payout ratio 37% vs 20% industry median with 1.65B FCF supports 3.32/share dividend while maintaining M&A capacity.
Free Cash Flow TTMDividend Payout Ratio Avg 5yr
Bear Case
EPS growth 0.7% 3Y CAGR vs industry median 16.4% - mature business with limited organic growth despite scale advantage.
EPS Growth 3yr
P/E 22.1x below median 27.3x but P/B 15.3x implies market pricing in intangibles - valuation assumes no goodwill impairment.
PE RatioPB RatioGoodwill
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
FCF conversion will improve as working capital normalizes from -307M drag in TTM period.
1-3ymed
- Inventory down 118M signals destocking cycle ending
- Receivables change minimal (+49M) despite 31B revenue
- Operating cash flow 1.99B already covers 346M capex 5.8x
FCF 1.65B on 2.0B operating CF (82% conversion)Capex only 1.1% of revenue - asset-light modelWorking capital -307M vs median -48M industry drag
Valuation Context
Caveats
Public Strategies Rankings
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FERG Fundamentals
Construction → Specialty Trade Contractors
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$48.95B | — | ||
$54.44B | — | ||
24 | — | ||
$31.16B | +4.9% | — | |
$10.19 | +22.4% | — | |
8.96% | +0.3% | — | |
6.28% | +0.6% | — | |
$1.65B | +26.4% | — | |
0.33 | +2.8% | — | |
Beta 5Y (Monthly) | unknown | — |
FERG Dividend History
35 dividends
2026
$0.890001/02/26$0.8900
2025
$2.490009/26/25$0.8300
06/20/25$0.8300
03/21/25$0.8300
2024
$2.410012/20/24$0.8300
09/27/24$0.7900
03/14/24$0.7900
2023
$3.040012/14/23$0.7900
10/05/23$0.7500
06/15/23$0.7500
03/16/23$0.7500
2022
$3.500012/15/22$0.7500
10/27/22$1.9100
03/24/22$0.8400
2021
$4.194010/28/21$1.6650
03/25/21$2.5290
2020
$2.082011/12/20$2.0820
2019
$2.082010/24/19$1.4510
04/04/19$0.6310
2018
$1.924910/25/18$1.3190
04/05/18$0.6059
2017
$0.774010/26/17$0.7740
2016
$1.055610/27/16$0.7043
03/31/16$0.3513
2015
$0.957910/22/15$0.6386
04/02/15$0.3193
2014
$0.870810/16/14$0.5806
04/02/14$0.2903
2013
$1.904212/02/13$1.1998
10/09/13$0.4644
04/03/13$0.2400
2012
$1.893712/10/12$1.4376
10/10/12$0.4561
2011
$0.570210/12/11$0.3801
04/06/11$0.1901
FERG Stock Splits
3 stock splits
06/11/1819:18 split
12/02/1331:30 split
12/10/1223:22 split
FERG SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
12/09/25 | 10/31/25 | 10-Q | |
09/26/25 | 07/31/25 | Unknown | |
06/03/25 | 04/30/25 | 10-Q | |
03/11/25 | 01/31/25 | Quarterly | |
12/10/24 | 10/31/24 | 10-Q | |
09/25/24 | 07/31/24 | Annual | |
06/05/24 | 04/30/24 | 10-Q | |
03/06/24 | 01/31/24 | Quarterly | |
12/06/23 | 10/31/23 | 10-Q | |
09/26/23 | 07/31/23 | 10-K | |
06/07/23 | 04/30/23 | 10-Q | |
03/08/23 | 01/31/23 | 10-Q | |
12/08/22 | 10/31/22 | 10-Q | |
10/27/22 | 07/31/22 | Annual | -- |
06/14/22 | 04/30/22 | Quarterly | -- |
03/15/22 | 01/31/22 | Quarterly | -- |
12/07/21 | 10/31/21 | Quarterly | -- |
10/29/21 | 07/31/21 | Annual | -- |
06/14/22 | 04/30/21 | Quarterly | -- |
03/16/21 | 01/31/21 | Quarterly | -- |
12/07/21 | 10/31/20 | Quarterly | -- |
10/30/20 | 07/31/20 | Annual | -- |
01/31/20 | 01/31/20 | Unknown | -- |
10/18/19 | 07/31/19 | Annual | -- |
01/31/19 | 01/31/19 | Unknown | -- |
10/11/18 | 07/31/18 | Annual | -- |
01/31/18 | 01/31/18 | Unknown | -- |
10/25/17 | 07/31/17 | Annual | -- |
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10/19/16 | 07/31/16 | Annual | -- |
01/31/16 | 01/31/16 | Unknown | -- |
10/23/15 | 07/31/15 | Annual | -- |
01/31/15 | 01/31/15 | Unknown | -- |
10/22/14 | 07/31/14 | Annual | -- |
01/31/14 | 01/31/14 | Unknown | -- |
10/23/13 | 07/31/13 | Annual | -- |
01/31/13 | 01/31/13 | Unknown | -- |
10/26/12 | 07/31/12 | Annual | -- |
07/31/11 | 07/31/11 | Unknown | -- |
01/31/11 | 01/31/11 | Unknown | -- |
07/31/10 | 07/31/10 | Unknown | -- |
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07/31/00 | 07/31/00 | Unknown | -- |
01/31/00 | 01/31/00 | Unknown | -- |