Ferguson Enterprises FERG
Ferguson is the largest value-added distributor serving the water and air specialized professional in our $340 billion residential and non-residential North American construction market. 10-K, Item 1
- Employees
- 35,000
- Headquarters
- Newport News, VA
- CEO
- Kevin Murphy
- Next results
- around Feb 23, 2027
Where each dollar of revenue went, FY2025
Revenue of $30.8B through the costs to a net profit of $1.9B · income statement of the 10-K
FERG among Industrials peers
Six ratios from the latest 10-K. Each corner is the share of 81 peers the company is above, not a score.
What changed
12 new risk paragraphs. 10-K filed Sep 26, 2025 against Sep 25, 2024.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
11 checks on the latest 10-K. Checks, not verdicts.
0facts worth reading about all 11 checks found nothing to note
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Receivables +10.0% vs revenue +3.8% (+6.2 pts)
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Cash from operations $1.9B vs net income $1.9B (FY ending Jul 31, 2025)
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Inventory +7.3% vs revenue +3.8% (+3.5 pts)
8 more checks with nothing to note
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Same auditor in both 10-Ks: Deloitte & Touche LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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The same matters as last year: Inventory Reserves
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
12 paragraphs in Risk Factors that were not in the 10-K filed Sep 25, 2024. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Sep 25, 2024 10-K, ITEM 1A
Any of these events could impair the ability of our customers to make full and timely payments for, or reduce the volume of, products our customers purchase from us and could cause increased pressure on our selling prices. In particular, our customers may be affected by the shortage of skilled trade professionals in the U.S. If the…
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Item 1A · new paragraph · not in the 10-K filed Sep 25, 2024 10-K, ITEM 1A
We operate a variety of pension plans, including defined benefit plans in Canada and the U.K. The amount we are required to contribute to these plans is determined by the laws and regulations governing each plan and is generally related to the funded status of the plans. A deterioration in the value of the plans’ investments or a…
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Item 1A · new paragraph · not in the 10-K filed Sep 25, 2024 10-K, ITEM 1A
Changes in laws or policies governing the terms of foreign trade, and in particular increased trade restrictions, tariffs, sanctions or taxes on imports from countries where we import products or raw materials (either directly or through our suppliers), could have a material adverse impact on our competitive position, business,…
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Item 1A · new paragraph · not in the 10-K filed Sep 25, 2024 10-K, ITEM 1A
Additionally, the loss of key supplier arrangements could have a material adverse impact on us. Although in many instances we have agreements with our suppliers, these agreements are generally terminable by either party on limited notice. Failure by our suppliers to continue to supply us with products on commercially reasonable terms,…
New risk paragraphs, against peers
Latest 10-K of each, Industrials companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $28.6B | $29.7B | $29.6B | $30.8B |
| Net income | $2.1B | $1.9B | $1.7B | $1.9B |
| Operating cash flow | $1.1B | $2.7B | $1.9B | $1.9B |
| Free cash flow | $859.0M | $2.3B | $1.5B | $1.6B |
Revenue, FY2022 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$30.8B ▲ 3.8% in FY2025$1.9B ▲ 7.0% in FY2025$1.6B ▲ 6.8% in FY2025
Recent filings
2 filings in the last 30 days · SEC EDGAR
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8-KNov 9, 2026Quarterly results 8-K item 2.02
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10-QNov 9, 2026Quarterly report (10-Q) period ended Sep 30, 2026
About the company
Ferguson Enterprises, Newport News, VA · from the 10-K filed Sep 26, 2025
Ferguson is the largest value-added distributor serving the water and air specialized professional in our $340 billion residential and non-residential North American construction market. We help make our customers’ complex projects simple, successful and sustainable by providing expertise and a wide range of products and services from plumbing, heating, ventilation and air conditioning (“HVAC”), appliances, and lighting to pipes, valves and fittings (“PVF”), water and wastewater solutions and more. We sell through a common network of distribution centers, branches, counter service and expert sales associates, showroom consultants and e-commerce channels.
- Headquarters
- Newport News, VA
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Nov 9, 2026
- Incorporated in
- DE
Employees, at the top of the page: "As of July 31, 2025, Ferguson employed approximately 35,000 associates worldwide, including those employed on a full-time, part-time, seasonal or temporary basis, which includes approximately 32,000 associates in the United States, 3,000 associates in Canada and small number of associates who reside" (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed Sep 26, 2025 (open at SEC), compared with the 10-K filed Sep 25, 2024. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
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