Ferguson Enterprises Inc

corporate.ferguson.com

What Do They Do?

Distributes plumbing, HVAC, and water and wastewater products to residential and non-residential customers, including contractors.

How Do They Make Money?

The United States segment mainly sells products, with customers typically paying shortly after delivery or pickup; the Canada segment also sells products, with payment typically due shortly after sale.

revenue

Segment	Share	Revenue	How money arrives
United States Segment Sold outright	95% FY2022: 95%		Sold outright
Canada Segment Sold outright	4.9% FY2022: 5.3%		Sold outright

Who Are Their Customers?

Residential and non-residential customers, including contractors, buy through Ferguson's branches, sales associates, showrooms and online channels. They can receive deliveries, pick up orders or have products shipped directly.

Do Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.

Operating income, FY2025

8% of revenue

▼ −2% vs FY2024 ($2.7B, 9%)

Net income, FY2025

6% of revenue

▲ +7% vs FY2024 ($1.7B, 6%)

Free cash flow, FY2025

5% of revenue

▲ +7% vs FY2024 ($1.5B, 5%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +5%; vs $8.4B in Q2 FY2025
Net income: ▲ +5%; vs $634M in Q2 FY2025

United States Segment share of revenue vs 95.0% in Q2 FY2025

Aug 10, 2026 Raised full-year net sales growth guidance The outlook moved from low to mid-single digit growth to mid-single digit growth.
Jul 13, 2026 Agreed to acquire industrial distributor FloWorks The $1.6 billion cash transaction was expected to close in the third quarter of 2026, subject to customary conditions and regulatory approvals.

Revenue over time

United States Segment Canada Segment

$50B$25B$0

FY2022 FY2023 FY2024 FY2025

Comments