FERG
Ferguson Enterprises Inc. /DE/
Other • CIK: 0002011641
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Market Cap
$49.13B
P/E (TTM)
25.1x
Rev Growth (TTM)
+4.9%
Net Margin (TTM)
6.3%
FCF Yield (TTM)
3.3%
FCF Margin (TTM)
5.3%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$1.6B
Q1 '26
$312M-42%
Q4 '25
$541M-11%
FCF Margin
TTM5.3%
Q1 '263.8%-40%
Sector: 0.0%Above Avg
OCF Margin6.4%
OCF/NI1.02x
CapEx Coverage5.6x
FCF Yield3.3%
FCF Growth (2Y)–
Cash Conversion Cycle
60 days
DSO: 43+DIO: 75−DPO: 59
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM3.2%
Div Yield1.3%
+Buyback (TTM)1.8%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)1.3%
FCF Payout Ratio39.8%
Free Cash Flow (TTM)$1.6B
Stock Repurchases (TTM)$900.0M
Capital Return / FCF94.7%
Est. Dividends Paid (TTM)$653.0M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
19.6%
Moderate
-0.2% YoY-8.3%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
6.8%
8Q: 6.3%
Asset Turnover
1.81x
8Q: 1.82x
Leverage (1+D/E)
1.68x
D/E: 0.68x
DuPont: 20.6% ≈ 19.6% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
17.03x
8Q:–
Invested Cap Turn
2.89x
8Q:–
CapEx Intensity
3.3%
8Q:–
CapEx/Depreciation
0.94x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $31.2B | $8.2B↓3.9% | $8.5B↑11.5% | $7.6B↑10.9% | $6.9B↓11.6% | $7.8B↓2.2% | $7.9B↑8.7% | $7.3B↑9.5% | $6.7B |
Operating Income | $2.7B | $771.0M↓16.6% | $925.0M↑52.6% | $606.0M↑47.8% | $410.0M↓38.3% | $665.0M↓18.0% | $811.0M↑29.8% | $625.0M↑31.0% | $477.0M |
Net Income | $2.0B | $570.0M↓18.6% | $700.0M↑70.7% | $410.0M↑48.6% | $276.0M↓41.3% | $470.0M↑4.2% | $451.0M↑1.8% | $443.0M↑37.6% | $322.0M |
Operating Cash Flow | $2.0B | $430.0M↓20.5% | $541.0M↓20.7% | $682.0M↑100.6% | $340.0M↓1.4% | $345.0M↓5.7% | $366.0M↓43.2% | $644.0M↑110.5% | $306.0M |
Free Cash Flow | $1.6B | $312.0M↓42.3% | $541.0M↓10.6% | $605.0M↑133.6% | $259.0M↓3.4% | $268.0M↓26.8% | $366.0M↓36.1% | $573.0M↑179.5% | $205.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
25.1x
Volatile
8Q: 90.6x-3373%
Valuation Lenses
Earnings
25.1x
vs – sector
Cash Flow
26.6x
EV/FCF vs –
Growth-Adj
1.3xPEG
Fair for growth
Quality-Adj
1.3P/E per %ROIC
ROIC: 19.6%
Shareholder Returns
Dividend
1.3%
Buyback
1.8%
Total Yield
3.2%
Market Cap$49.13B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
89/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
34.5%
8Q:–
Return on Invested Capital (ROIC)Top 25%
19.6%
8Q:–
-8.3%
vs Sector:0.0%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 6.8%
Asset Turnover: 1.81x
Earnings Quality
Cash Conversion
1.02x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin30.8%
Capital Efficiency
Invested Capital Turnover2.89x
Working Capital
Cash Conversion Cycle60 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
55/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
4.9%
OpInc Growth YoY
15.9%
EPS Growth YoY
18.7%
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
30.8%
Operating
8.7%
Above Avg in sector
Net
6.3%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-1.0 pts
FCF: 5.3% | Net: 6.3%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $3.57B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.68x
Balance sheet risk & solvency analysis