Industrials · Trading Companies & Distributors · US stock · price as of 16 Oct 2026
Key indicators
Price
$231.61
52-week range
$212.13 – $268.59
Market cap
$45.1B
P/E (trailing)
19.7×
EV / EBITDA
13.7×
Free-cash-flow yield
3.6%
Dividend yield
1.5%
Revenue (last 12 months)
$32.5B
Revenue growth (3y a year)
2.5%
Operating margin
9.7%
Return on invested capital
27.1%
Net debt / EBITDA
0.9×
Fair value
Blended fair value$335.69 range $321 – $351
Versus priceUndervalued+45% to fair value
Peer multiples
$332.05
Fundamentals-adjusted multiple
$368.54
10-year DCF (market-scaled)
$306.48
Earnings power value (floor, not blended)
$125.67
Model uncertainty
Medium
X-Ray Score
56/ 100 · Medium confidence · ahead of 67% of sector peers
Valuation70
Growth40
Profitability59
Financial health65
Dividends21
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Ferguson is a distributor of plumbing, heating, cooling, waterworks and related products, serving contractors, builders and facilities operators mainly in the United States. It buys products from many manufacturers and sells them through branches, distribution centers and online, together with delivery and technical support. Revenue comes from product sales, and results follow trends in residential and commercial construction, repair and maintenance spending.
The company reported revenue of $32.5 billion over the last twelve months. Revenue growth over three years averaged 2.5% a year. Operating margin is 9.7% and return on invested capital is 27%. Net debt to EBITDA is 0.9 times. It pays a dividend with a yield of 1.5%. These figures describe past results as reported and are a factual snapshot, not a forecast. Some measures, such as margins for real estate trusts and banks, are defined differently from those of industrial firms, so comparisons should be made with care.
StocksXray gives Ferguson Enterprises Inc. an X-Ray Score of 56 out of 100 (medium confidence), ahead of 67% of the S&P 500 stocks in its sector. Its strongest lens is valuation (70) and its weakest is dividends (21).
Our fair value blend is $335.69 (range $321.01 to $351.28). At $231.61 the stock trades 31% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Ferguson Enterprises Inc. (FERG)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
Now
Price
$115.59
$153.25
$214.65
$219.13
$231.61
Market cap
$25.3B
$31.8B
$43.7B
$43.7B
$45.1B
P/E
11.9×
16.8×
25.2×
23.5×
19.7×
EV / revenue
0.9×
1.2×
1.6×
1.5×
1.5×
EV / EBITDA
7.9×
11.7×
15.7×
15.8×
13.7×
Price / free cash flow
29.5×
13.9×
29.1×
27.2×
27.4×
Free-cash-flow yield
3.4%
7.2%
3.4%
3.7%
3.6%
Price / book
5.4×
6.3×
7.8×
7.5×
7.7×
Dividend yield
2.17%
2.71%
1.45%
1.50%
1.54%
Fundamentals checklist ● 9 Good · ● 3 Average · ● 4 Bad · each check graded against the sector
Cash quality
Earnings backed by cash1.8%Bad
Free-cash-flow yield3.6%Average
Risk models
Altman Z score4.7×Good
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)−1.3%Bad
Free-cash-flow growth (3y)23.1%Good
Revenue growth (3y)2.5%Average
Growth consistency67%Bad
Balance sheet
Current ratio1.8×Good
Net debt / EBITDA0.9×Good
Interest coverno interest costGood
Valuation
Fair value vs price1.4×Good
EBIT / EV yield6.5%Good
Profitability
Return on invested capital27.1%Good
Operating margin9.7%Bad
Gross profitability57.0%Good
XStocksXray
Ferguson Enterprises Inc. (FERG)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
LTM
Revenue
28,566
29,734
29,635
30,762
32,501
Gross profit
8,756
9,025
9,053
9,435
10,131
Operating income
2,820
2,659
2,652
2,606
3,150
Net income
2,122
1,889
1,735
1,856
2,318
Diluted EPS ($)
9.69
9.12
8.53
9.32
11.77
Free cash flow
859
2,282
1,501
1,603
1,644
Gross margin
30.7%
30.4%
30.5%
30.7%
31.2%
Operating margin
9.9%
8.9%
8.9%
8.5%
9.7%
Net margin
7.4%
6.4%
5.9%
6.0%
7.1%
Balance sheet
FY22
FY23
FY24
FY25
LTM
Total assets
–
15,994
16,572
17,729
17,789
Cash
771
601
571
674
820
Total debt
–
3,766
3,924
4,152
4,127
Equity
4,665
5,037
5,616
5,832
5,874
Dividend per share ($)
2.51
4.16
3.12
3.28
3.38
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.