Ferguson Enterprises
FERG on NYSE. Ferguson sells plumbing, heating and building supplies to construction professionals. Market value $43.1bn.
Figures from the annual report for the year ended 31 July 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
What to watch out for
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $3.71 of spare cash last year. A savings account pays about $4.
You pay 18.3 years of operating profit for the business. The average large US company costs around 18.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 66 of 100. Our list needs 70 on quality and 60 on price.
$223.33 a share, 5% above its 1-year low
Over the past year the price has ranged from $212.13 to $271.64.
Dividend: 1.1% a year
Paid every year for 2 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | ||
| Revenue | $29.6bn | $30.8bn |
| Operating margin | ||
| Operating margin | 8.9% | 8.5% |
| Debt to equity | ||
| Debt to equity | 0.70 | 0.72 |
| Shares outstanding | ||
| Shares outstanding | 0.20bn | 0.19bn |
Health checks
- Free cash flow positive2 of 2 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt0.72× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
| Quarter to | Amount |
|---|---|
| July 2024 | Not reported |
| October 2024 | $7.8bn |
| January 2025 | $6.9bn |
| April 2025 | $7.6bn |
| July 2025 | $8.5bn |
| October 2025 | $8.2bn |
| March 2026 | $7.5bn |
| June 2026 | $8.8bn |
| Quarter to | Amount |
|---|---|
| July 2024 | Not reported |
| October 2024 | $470m |
| January 2025 | $276m |
| April 2025 | $410m |
| July 2025 | $700m |
| October 2025 | $570m |
| March 2026 | $414m |
| June 2026 | $666m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 9 November 2026
- Last annual report (10-K)
- 27 February 2026
- Next quarterly (estimated, 10-Q)
- 9 November 2026
Who owns it
18 long-term investors we follow own it, up from 17 last quarter. 944 funds in all.
- Baupost GroupSeth Klarman
- Value
- $344m
- Share of fund
- 6.4%
- Giverny CapitalFrançois Rochon
- Value
- $9m
- Share of fund
- 0.3%
- Weitz Investment ManagementWally Weitz
- Value
- $1m
- Share of fund
- <0.1%
- Auxier Asset ManagementJeff Auxier
- Value
- $249,196
- Share of fund
- <0.1%
- Ruane Cunniff & Goldfarb (Sequoia Fund)John Harris
- Value
- $237,330
- Share of fund
- <0.1%
- LSV Asset ManagementJosef Lakonishok
- Value
- $142,000
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Baupost GroupSeth Klarman | $344m | 6.4% | |
| First Eagle Investment ManagementMatthew McLennan | $313m | 0.3% | Added |
| Egerton CapitalJohn Armitage | $239m | 2.3% | Added |
| Fiduciary Management (FMI)Pat English | $201m | 2.9% | Cut |
| First Pacific Advisors (FPA)Steven Romick | $187m | 2.3% | Cut |
| Findlay Park PartnersFindlay Park team | $147m | 2.0% | Added |
| Diamond Hill Capital ManagementRic Dillon (founder) | $113m | 0.9% | Cut |
| Markel GroupTom Gayner | $43m | 0.3% | Added |
| Mawer Investment ManagementMawer team | $34m | 0.2% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $26m | <0.1% | Cut |
| Cantillon Capital ManagementWilliam von Mueffling | $19m | 2.9% | Cut |
| Giverny CapitalFrançois Rochon | $9m | 0.3% | |
| GMOJeremy Grantham | $4m | <0.1% | Cut |
| Boston PartnersBoston Partners team | $2m | <0.1% | New |
| Weitz Investment ManagementWally Weitz | $1m | <0.1% | |
| Auxier Asset ManagementJeff Auxier | $249,196 | <0.1% | |
| Ruane Cunniff & Goldfarb (Sequoia Fund)John Harris | $237,330 | <0.1% | |
| LSV Asset ManagementJosef Lakonishok | $142,000 | <0.1% |
Largest holders overall
- BlackRock$2.7bn
- Vanguard Portfolio Management$2.2bn
- Vanguard Capital Management$2.1bn
- FMR$1.8bnCut
- Jupiter Topco$1.8bn
- Wellington Management Group LLP$1.7bnCut
- Bank of New York Mellon$1.1bnCut
- State Street$1.1bn
- WCM Investment Management$998mCut
- Franklin Resources$912mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor5.4%Since 30 June 2025
- Vanguard Capital ManagementPassive investor5.4%Since 31 March 2026
- FMR LLCPassive investorat least 2.9%−2.1 pts(filed with 1 related holder)Since 30 June 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 5.4% | 30 June 2025 | |
Vanguard Capital Management Passive investor | 5.4% | 31 March 2026 | |
FMR LLC Passive investor | at least 2.9%−2.1 pts (filed with 1 related holder) | 30 June 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 9 sold $8m.
- Schlicher JakeChief Strategy OfficerSold
- Date
- 28 August 2026
- Shares
- 5,177
- Price
- $230.92
- Value
- $1m
- Winckler RichardChief Accounting OfficerSold
- Date
- 16 October 2025
- Shares
- 83
- Price
- $241.80
- Value
- $20,069
- Graham Ian T.See RemarksSold
- Date
- 15 October 2025
- Shares
- 606
- Price
- $239.33
- Value
- $145,034
- Winckler RichardChief Accounting OfficerSold
- Date
- 14 October 2025
- Shares
- 1,034
- Price
- $232.70
- Value
- $240,612
- Paisley James A.See RemarksSold
- Date
- 14 October 2025
- Shares
- 3,000
- Price
- $236.97
- Value
- $710,910
- Camposano Robert Anthony Jr.Senior VP - WaterworksSold
- Date
- 13 October 2025
- Shares
- 1,600
- Price
- $233.23
- Value
- $373,168
- Stirrup AllisonChief Human Resources OfficerSold
- Date
- 13 October 2025
- Shares
- 969
- Price
- $234.23
- Value
- $226,969
- Murphy Kevin MichaelSee Remarks, DirectorSold
- Date
- 13 October 2025
- Shares
- 8,800
- Price
- $234.13
- Value
- $2m
- Graham Ian T.See RemarksSold
- Date
- 13 October 2025
- Shares
- 4,864
- Price
- $233.22
- Value
- $1m
- Brundage WilliamChief Financial Officer, DirectorSold
- Date
- 13 October 2025
- Shares
- 3,000
- Price
- $233.32
- Value
- $699,960
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 28 August 2026 | Schlicher Jake Chief Strategy Officer | Sold | 5,177 | $230.92 | $1m |
| 16 October 2025 | Winckler Richard Chief Accounting Officer | Sold | 83 | $241.80 | $20,069 |
| 15 October 2025 | Graham Ian T. See Remarks | Sold | 606 | $239.33 | $145,034 |
| 14 October 2025 | Winckler Richard Chief Accounting Officer | Sold | 1,034 | $232.70 | $240,612 |
| 14 October 2025 | Paisley James A. See Remarks | Sold | 3,000 | $236.97 | $710,910 |
| 13 October 2025 | Camposano Robert Anthony Jr. Senior VP - Waterworks | Sold | 1,600 | $233.23 | $373,168 |
| 13 October 2025 | Stirrup Allison Chief Human Resources Officer | Sold | 969 | $234.23 | $226,969 |
| 13 October 2025 | Murphy Kevin Michael See Remarks, Director | Sold | 8,800 | $234.13 | $2m |
| 13 October 2025 | Graham Ian T. See Remarks | Sold | 4,864 | $233.22 | $1m |
| 13 October 2025 | Brundage William Chief Financial Officer, Director | Sold | 3,000 | $233.32 | $699,960 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Sep 2025, plus the 10-Q filed 10 Aug 2026 and 9 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.