Ferguson Enterprises
FERG · NYSEWholesale-Hardware & Plumbing & Heating Equipment & Supplies · Fiscal year ends Dec 31
Ferguson Enterprises reported revenue of $30.8B in the fiscal year ended Jul 2025, up 3.8% from the year before. Operating income was $2.6B, an operating margin of 8.5%, and net income was $1.9B. Operating cash flow of $1.9B less capital expenditure of $305M left free cash flow of $1.6B. Net debt was $3.5B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jul 2022 | Jul 2023 | Jul 2024 | Jul 2025 |
|---|---|---|---|---|
| Revenue | $28.6B | $29.7B | $29.6B | $30.8B |
| Cost of revenue | $19.8B | $20.7B | $20.6B | $21.3B |
| Gross profit | $8.8B | $9B | $9.1B | $9.4B |
| Selling, general & admin | $5.6B | $5.9B | $6B | $6.4B |
| Operating income | $2.8B | $2.7B | $2.7B | $2.6B |
| Net interest incomeBanks | – | −$184M | −$179M | −$190M |
| Interest expense | $111M | $184M | $179M | – |
| Pre-tax income | $2.7B | $2.5B | $2.5B | $2.4B |
| Income tax | $609M | $575M | $729M | $567M |
| Net income | $2.1B | $1.9B | $1.7B | $1.9B |
| Diluted EPS | 9.69 | 9.12 | 8.53 | 9.32 |
| Diluted shares | 219M | 207M | 204M | 199M |
Balance sheet
| Fiscal year | Jul 2022 | Jul 2023 | Jul 2024 | Jul 2025 |
|---|---|---|---|---|
| Cash & equivalents | $771M | $601M | $571M | $674M |
| Receivables | – | $3.6B | $3.6B | $4B |
| Inventory | – | $3.9B | $4.2B | $4.5B |
| Current assets | – | $9.1B | $9.4B | $10.1B |
| Net PP&E | – | $1.6B | $1.8B | $1.8B |
| Goodwill | $2B | $2.2B | $2.4B | $2.5B |
| Total assets | – | $16B | $16.6B | $17.7B |
| Payables | – | $3.4B | $3.4B | $3.6B |
| Current liabilities | – | $5.4B | $5.2B | $6B |
| Short-term debt | – | $55M | $150M | $400M |
| Long-term debt | – | $3.7B | $3.8B | $3.8B |
| Total liabilities | – | $11B | $11B | $11.9B |
| Shareholders' equity | $4.7B | $5B | $5.6B | $5.8B |
Cash flow
| Fiscal year | Jul 2022 | Jul 2023 | Jul 2024 | Jul 2025 |
|---|---|---|---|---|
| Operating cash flow | $1.1B | $2.7B | $1.9B | $1.9B |
| Capital expenditure | $290M | $441M | $372M | $305M |
| Free cash flow | $859M | $2.3B | $1.5B | $1.6B |
| Depreciation & amortisation | $301M | $321M | $335M | $373M |
| Stock-based compensation | $57M | $51M | $49M | $28M |
| Acquisitions | $650M | $616M | $260M | $301M |
| Share buybacks | $1.5B | $908M | $634M | $948M |
| Dividends paid | $538M | $711M | $784M | $489M |
| Dividend per share | 2.50 | 4.16 | 3.12 | 3.28 |
Key ratios
| Fiscal year | Jul 2022 | Jul 2023 | Jul 2024 | Jul 2025 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.1% | −0.3% | 3.8% |
| Operating income growth (YoY) | – | −5.7% | −0.3% | −1.7% |
| EPS growth (YoY) | – | −5.9% | −6.5% | 9.3% |
| Gross margin | 30.7% | 30.4% | 30.5% | 30.7% |
| Operating margin | 9.9% | 8.9% | 8.9% | 8.5% |
| Net margin | 7.4% | 6.4% | 5.9% | 6.0% |
| Return on equityBlank when equity is negative | 45.5% | 37.5% | 30.9% | 31.8% |
| ROCEEBIT ÷ (assets − current liabilities) | – | 25.2% | 23.4% | 22.3% |
| Free cash flow margin | 3.0% | 7.7% | 5.1% | 5.2% |
| Cash conversion (CFO ÷ net income) | 0.54x | 1.44x | 1.08x | 1.03x |
| Receivable days | – | 44 | 44 | 47 |
| Inventory days | – | 69 | 74 | 77 |
| Payable days | – | 60 | 60 | 61 |
| Interest cover | 25.4x | 14.5x | 14.8x | – |
| Debt ÷ equity | – | 0.75x | 0.70x | 0.71x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | $3.2B | $3.4B | $3.5B |
| Current ratio | – | 1.67x | 1.80x | 1.68x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.