Ferguson Enterprises FERG
Bought back $948.0M of its own shares, 33.9× what it paid in stock
XBRL, latest 10-KNew shares against shares bought back
Dilution: new shares, stock pay and buybacks · S-3 and 424B, 3 years; 10-K
Shares offered
Since Nov 15, 2023: 1 registration of shares for a merger, units or notes; also 1 debt shelf.
- Apr 18, 2024 Up to 203.1M shares for a merger, units or notes 424B3
Every offering filing“(A DELAWARE CORPORATION) TO BE ISSUED IN A HOLDING COMPANY REORGANIZATION OF The board of directors (the “Ferguson Board”) of Ferguson plc, a public company limited by shares incorporated in Jersey, unanimously approved the merger (the “Merger”) of Ferguson (Jersey) 2 Limited (“Merger Sub”), a newly formed Jersey incorporated private limited company and direct, wholly owned subsidiary of Ferguson Enterprises Inc., a …”
424B3, Apr 18, 2024
Diluted shares: 199.20M in the year to Jul 31, 2025 2025 -2.1%2024 -1.8%2023 -5.3%
Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. How
Where the cash came from and where it went
FY2023 to FY2025, from the cash flow statements in the 10-Ks, added up
The same cash, step by step
Came from
| Operating cash flow | $6.5B |
| Debt raised | $9.7B |
| Cash on hand used | $100.0M |
Went to
| Capital spending | $1.1B |
| Acquisitions | $1.2B |
| Buybacks | $2.5B |
| Dividends | $2.0B |
| Debt repaid | $9.4B |
| Other, net investments bought and sold, other financing and investing lines, and exchange rates |
$46.0M |
Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.
Where the operating cash went, year by year
FY2022 to FY2025 · cash flow statements, 10-K XBRL
| Fiscal year | Operating cash | Capital spending | Acquisitions | Buybacks | Dividends | Debt repaid |
|---|---|---|---|---|---|---|
| Jul 31, 2025 | $1.9B | $305.0M | $301.0M | $948.0M | $489.0M | $4.4B |
| Jul 31, 2024 | $1.9B | $372.0M | $260.0M | $634.0M | $784.0M | $2.1B |
| Jul 31, 2023 | $2.7B | $441.0M | $616.0M | $908.0M | $711.0M | $2.9B |
| Jul 31, 2022 | $1.1B | $290.0M | $650.0M | $1.5B | $538.0M | $575.0M |
| Added up | $7.7B | $1.4B 18% of operating cash | $1.8B 24% of operating cash | $4.0B 53% of operating cash | $2.5B 33% of operating cash | $10.0B 131% of operating cash |
Each bar is one fiscal year; its colours add up to what the cash flow statement says the company spent on each line, and the line across it is that year's operating cash flow. Spending above the line was paid from new debt, shares sold or cash on hand. A bar part links to the 10-K it comes from. A line the company did not report is left out, not estimated, so the shares are of operating cash only and can add up to more or less than 100%. Debt repaid is the gross amount, so refinanced debt is counted each time it is repaid. A reading aid, not a grade: Tickdelta does not say whether a split was good. Banks and insurers are left out.
Buybacks, dividends and share count
Year by year · XBRL, each 10-K
| Fiscal year to | Buybacks | Dividends | Diluted shares |
|---|---|---|---|
| Jul 31, 2025 | $948.0M | $489.0M | 199.20M |
| Jul 31, 2024 | $634.0M | $784.0M | 203.50M |
| Jul 31, 2023 | $908.0M | $711.0M | 207.20M |
| Jul 31, 2022 | $1.5B | $538.0M | 218.90M |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: buybacks = PaymentsForRepurchaseOfCommonStock; dividends = PaymentsOfDividends; sbc = ShareBasedCompensation; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.
Dividend per share, year by year
Dividends · declared per share, each 10-K; cash paid, cash flow statement
Declared since the 10-K: Sep 30, 2026 $0.89Jun 30, 2026 $0.89Mar 31, 2026 $0.89Oct 31, 2025 $0.83Sep 30, 2025 $0.83
| Fiscal year to | Per share | Against year before | Cash paid out |
|---|---|---|---|
| Jul 31, 2025 | $3.28 | ▲+5.1% | $489.0M |
| Jul 31, 2024 | $3.12 | ▼-25.0% | $784.0M |
| Jul 31, 2023 | $4.16 | ▲+66.1% | $711.0M |
| Jul 31, 2022 | $2.505 | - | $538.0M |
Dividend per share as the company tagged it (CommonStockDividendsPerShareCashPaid), from the latest 10-K that reports each year, so a stock split is already in it. A change is left blank when the year before is missing or the jump is more than five times.
Buybacks month by month, and what is left to buy
Share buybacks · 10-Q, Part II Item 2, latest 4 quarters
“On April 30, 2026, the Board authorized a new share repurchase program of up to $2 billion in aggregate purchases of common stock, replacing the prior program.”
10-Q, Part II Item 2
The monthly table could not be read from the text of these 10-Qs: open the latest 10-Q, Part II Item 2.
Sources
The cash flow statement, dividends per share and diluted share count in each 10-K's XBRL; Part II Item 2 of each 10-Q for monthly buybacks; offering prospectuses (S-3, 424B) for new shares; Form D data sets for private raises.
Also
CEO pay: what the CEO was paid over the same years.
Work with it
Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/FERG/export.csv") into a cell.