At a glance
Ferguson Plc is worth $44.41B, about 25 times its fiscal 2025 earnings. Revenue grew 3.8% to $30.76B in fiscal 2025, with 6.0% kept as profit; over 3 years it has grown 2.5% a year. It pays a 1.55% dividend yield, and returned $6.56B to shareholders in dividends and buybacks over FY2022–FY2025. The stock returned −7.1% over the past year with dividends reinvested and +11.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 42.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months after the low.
The business in plain English
Ferguson is a distributor, not a manufacturer. It buys plumbing, heating, ventilation and air conditioning (HVAC) equipment, appliances, lighting, pipes, valves and fittings, and water and wastewater products from about 37,000 suppliers. It sells them to contractors and other trade professionals. It earns the gap between what it pays suppliers and what it charges customers. It also wins work with extra services such as virtual design, fabrication, pre-assembly and project management. Revenue was $30.8 billion in the fiscal year ended July 31, 2025.
Its customers and suppliers are widely spread. No customer made up more than 1% of fiscal 2025 net sales, and no supplier made up more than 5% of inventory purchases. Homes and non-residential buildings each bring in about half of sales. Roughly two-thirds of sales come from repair, maintenance and improvement of existing buildings, and one-third from new construction.
The United States supplied 95% of net sales in fiscal 2025, mostly under the Ferguson name, through 1,519 branches as of July 31, 2025. Canada, trading mainly as Wolseley, supplied the other 5% from 227 branches. The company describes itself as the largest value-added distributor to water and air (plumbing and HVAC) professionals in a $340 billion North American construction market. Buying other businesses is a core part of its growth plan.
Price history
The interactive chart needs JavaScript.
FERG -7.1% over the year to Oct 27, 2026, total return with dividends reinvested.
Latest results
- In Q4 FY2026 (ended Jun 30, 2026), revenue was $8.75B, up 4.6% from a year earlier, and net income was $666.0M (+5.0%).
- For fiscal 2025, revenue was $30.76B (+3.8% year over year; +2.5% a year from FY2022 to FY2025) with a 6% net margin.
Financial health check
| Revenue growth a year (FY2022–FY2025) | +2.5% watch |
|---|---|
| Operating margin | 8.5% watch |
| Free cash flow margin | 5.2% watch |
| Return on equity (FY2025) | 31.8% good |
| Return on assets (FY2025) | 10.5% good |
| Net cash (cash minus debt) | $-4.47B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2022 | $28.57B | $2.12B | $859.0M |
| FY2023 | $29.73B | $1.89B | $2.28B |
| FY2024 | $29.64B | $1.74B | $1.50B |
| FY2025 | $30.76B | $1.86B | $1.60B |
Valuation snapshot
| Market value | $44.41B |
|---|---|
| P/E ratio | 24.6 |
| Dividend yield | 1.55% |
Rank among 1514 US companies
Market value at each year end
Ferguson’s market value went from $34.70B at the end of 2024 to $44.41B on Oct 27, 2026, up 28%; since the end of 2025 it is up 2%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 27, 2026 | $44.41B | +2.0% |
| 2025 | $43.53B | +25.4% |
| 2024 | $34.70B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| FERG price data to Oct 27, 2026 | +4.7% | -7.1% | +16.7% | +11.0% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +4.7% |
| 2025 | +29.9% |
| 2024 | -8.6% |
| 2023 | +55.1% |
| 2022 | -27.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 41% over that stretch · deepest drop along the way 42.9%, back to its old high 14.2 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 19 sales ($8.6M), 18 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Oct 12, 2026 | Kevin Michael Murphy See Remarks, Director | sell (plan) | $2.4M |
| Oct 12, 2026 | William Brundage Chief Financial Officer, Director | sell (plan) | $1.3M |
| Aug 28, 2026 | Jake Schlicher Chief Strategy Officer | sell | $1.2M |
| Oct 12, 2026 | William T. Jr Thees Chief Operating Officer | sell (plan) | $772K |
| Oct 12, 2026 | Jake Schlicher Chief Strategy Officer | sell (plan) | $686K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 7.6% | Sep 30, 2026 |
| Vanguard Capital Management | 7.57% | Sep 30, 2026 |
| FMR LLC | 2.9% | Jun 30, 2025 |
ETFs with the most weight in FERG
| PHO Invesco Water Resources ETF | 7.73% |
| AQWA Global X Clean Water ETF | 7.59% |
| TBLU Tortoise Global Water ESG Fund | 4.3% |
| FIW First Trust Water ETF | 3.99% |
| OSEA Harbor International Compounders ETF | 3.94% |
| SUPP TCW Transform Supply Chain ETF | 2.7% |
| FPAG FPA Global Equity ETF | 2.57% |
| BDIV AAM Brentview Dividend Growth ETF | 2.26% |
What could go wrong
- Housing and construction slowdowns cut demand. Homes and non-residential buildings each bring in about half of sales, and 95% of sales come from the US. Higher interest and mortgage rates have slowed these markets before and could again.
- Contractors short of skilled trade workers. Many of Ferguson's customers are contractors. If the US shortage of skilled trade workers continues, they may lack the crews to take on extra projects and may delay or skip orders.
- Swings in copper, plastic and steel prices. Products tied to commodity prices can make up about 15% of net sales. When costs rise and Ferguson cannot pass them on to customers, its operating profit takes the hit.
- Supplier rebates could shrink or disappear. Suppliers pay Ferguson rebates (money back on purchases) under negotiated deals. If it fails to qualify for them or cannot renegotiate on good terms, the company warns results could suffer materially.
- Tariffs and trade wars could raise costs. Tariffs, sanctions or a wider trade war could raise what Ferguson pays for goods and make its products less competitive. About 95% of products sold in the US come from US-based suppliers.
- Acquisitions and debt add financial risk. Buying other businesses is core to Ferguson's growth plan, but deals may not deliver the expected benefits. Debt was $4.9 billion against $437 million of cash as of June 30, 2026.
Recent events
- Other company announcement
- Major agreement signed; New debt or financial obligation
- Quarterly results released
- Investor presentation or announcement
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Quarterly results released
- Shareholder vote results
For income and retirement investors
Ferguson pays a dividend, but it has only a short record of raises. Dividends per share were $4.16 in fiscal 2023, $3.12 in fiscal 2024 and $3.28 in fiscal 2025, so the streak of increases is one year. From fiscal 2022 to fiscal 2025 the dividend grew about 9.4% a year. Dividends paid in fiscal 2025 equaled about 26% of net income and 31% of free cash flow (the cash left after running and investing in the business). The yield was a modest 1.55% as of October 27, 2026. Buybacks have been larger than dividends: $4.0 billion over fiscal 2022–2025, against $2.5 billion of dividends. The share count fell 3.6% between September 2024 and August 2026.
In the 2022 bear market the stock fell 42.9% from its January 3 peak to its September 30 low, then took about 14 months to recover. There is no comparable price record for 2008 or 2020. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Ferguson make money?
Ferguson makes money by buying building products from about 37,000 suppliers and reselling them at a markup to contractors and other trade professionals. It sells plumbing, HVAC, appliances, lighting, pipes, valves and fittings, and water and wastewater products. In the fiscal year ended July 31, 2025, revenue was $30.8 billion and net income was $1.86 billion. About two-thirds of sales come from repair, maintenance and improvement work and one-third from new construction. Sales split roughly evenly between homes and non-residential buildings.
Is Ferguson an American or British company?
Ferguson is a US company. Its parent, Ferguson Enterprises Inc., is incorporated in Delaware and is based in Newport News, Virginia. It became the group's top company in August 2024 after a restructuring. The business once ran operations across Europe. In the early 2000s it shifted its focus to North America and disposed of its European businesses. Its shares still trade on the London Stock Exchange as well as the New York Stock Exchange, both under FERG. The US supplied 95% of fiscal 2025 net sales.
Does Ferguson raise its dividend every year?
No. Ferguson's dividend per share has not risen every year. It was $4.16 in fiscal 2023, $3.12 in fiscal 2024 and $3.28 in fiscal 2025, so the streak of increases is one year. Measured from $2.505 in fiscal 2022, it grew about 9.4% a year through fiscal 2025. The yield was 1.55% as of October 27, 2026. Ferguson is a holding company that relies on its subsidiaries for cash. It warns that future dividends depend on its financial performance.
How much debt does Ferguson have?
Ferguson had $4.9 billion of total debt and $437 million of cash and investments as of June 30, 2026. That leaves net debt of about $4.5 billion. Shareholders' equity was $6.2 billion. For scale, operating income (profit before interest and taxes) was $2.6 billion in fiscal 2025. In August 2026 the company filed notice of a major agreement and a new debt obligation. It warns that a lower credit rating could raise its borrowing costs.
Which ETFs hold Ferguson stock?
Water-themed ETFs give Ferguson some of its highest weights. They include Invesco Water Resources ETF (PHO), Global X Clean Water ETF (AQWA), Tortoise Global Water ESG Fund (TBLU) and First Trust Water ETF (FIW). It also appears in funds such as Harbor International Compounders ETF (OSEA), TCW Transform Supply Chain ETF (SUPP) and AAM Brentview Dividend Growth ETF (BDIV). Among large shareholders, BlackRock reported owning 7.6% of the stock as of September 30, 2026. Vanguard Capital Management reported 5.38% as of March 31, 2026.