Ferguson Enterprises Inc. /DE/
$256.47
+1.58 (+0.62%) · delayed · Nov 13, 2026
Five-year price
52w $212.13 to $271.64
- Market cap
- $49.7B
- Enterprise value
- $53.2B
- P/E
- 27.5×
- 28.5× on 3y avg EPS
- EV / EBIT
- 20.4×
- FCF yield
- 3.2%
- ROIC
- 21.2%
- Debt / equity
- 0.70
- Piotroski F
- 8/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 30.7%
- ●ROE > 15% (5y avg)5y avg ROE 36.4%
- ●Stable operating marginsMargin volatility 0.5% (σ, 5y)
- ●Earnings convert to cashFCF / net income 84% (5y avg)
- –Growing revenueRevenue CAGR 5y n/a
- –Shrinking share countDiluted shares n/a over 5y
Value
0
- ○P/E below 15P/E 27.5
- ○EV/EBIT below 12EV/EBIT 20.4
- ○FCF yield above 6%FCF yield 3.2%
- ○Price below Graham NumberGraham Number $79.64
- ○P/B below 3P/B 8.5
Safety
80
- ○Debt / equity below 0.5D/E 0.70
- ●Debt payable in < 4 yrs of earningsNet debt $3.6B
- ●Interest coverage > 8xCoverage 13.8x
- ●Current ratio > 1.5Current ratio 1.86
- ●Piotroski F-score ≥ 6F-score 8/9
Graham Defensive
25
- ●Adequate size (revenue > $2B)Revenue $30.8B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.86
- –Earnings stability (no loss, 10y)4 years of data
- –Uninterrupted dividendsDividends paid every year on record
- –Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -1%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 28.5
- ○P/E × P/B ≤ 22.5Product 241.9
Valuation lab
What do you have to believe?
At $256.47, the market is pricing in about 12.4% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $3.6B · 194M shares
Intrinsic value
$151.54
Price
$256.47
Premium paid
69%
What the price implies
The market is paying for 12.4% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
58% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 28,566 | 29,734 | 29,635 | 30,762 |
| Gross profit | 8,756 | 9,025 | 9,053 | 9,435 |
| Operating income | 2,820 | 2,659 | 2,652 | 2,606 |
| Operating margin | 9.9% | 8.9% | 8.9% | 8.5% |
| Pre-tax income | 2,708 | 2,464 | 2,464 | 2,423 |
| Income tax | 609 | 575 | 729 | 567 |
| Net income | 2,122 | 1,889 | 1,735 | 1,856 |
| EPS (diluted) | 9.69 | 9.12 | 8.53 | 9.32 |
| Diluted shares | 219 | 207 | 204 | 199 |
Who owns it