Ferguson Enterprises Inc.

FERG.L · Industrials · Industrial Distribution · Valued as of 2026-11-03 · Statements 2025-07-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

15.07B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

18.78B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

13.00B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

15.62B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

43.23B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.36×

the ratio the screener ranks by

Margin of Safety

-176.8%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 15.07B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)20.34B USD
−②Net Debt Today5.27B USD
+③Growth Value0 USD
=Value15.07B USD

EPV of the Operations (NOPAT over WACC)

20.34B USD

Net debt today

-5.27B USD

Growth Value

0 USD

Value

15.07B USD

①EPV (Earnings Power Value)

20.34B USD

②Net Debt Today

5.27B USD

③Growth Value

0 USD

Market value

Market Cap43.23B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-186.8%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 18.78B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE15.98B USD
+②Equity at Year 15, Today2.80B USD
=Value18.78B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

15.98B USD

②Equity at Year 15, Today

2.80B USD

Market value

Market Cap43.23B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-130.2%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 13.00B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF14.72B USD
+②Invested Capital at Year 15, Today3.54B USD
−③Net Debt Today5.27B USD
=Value13.00B USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

14.72B USD

②Invested Capital at Year 15, Today

3.54B USD

③Net Debt Today

5.27B USD

Market value

Market Cap43.23B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-232.6%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 10.55%
Cost of Equity =Risk-Free Rate 4.50%+Beta 1.20×Market Risk Premium 6.00%= 11.69%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 567.57M USDPretax Income 2.43B USD= 23.40%

The tax the interest saves.

Interest Expense =EBIT 2,615.61M USD−Pretax Income 2,425.42M USD= 190.19M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 190.19M USDTotal Debt 6.09B USD×(1 − Tax Rate for WACC 23.40%)= 2.39%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 6.09B USDMarket Cap + Total Debt 43.23B USD + 6.09B USD= 12.35%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 87.65%×Cost of Equity 11.69%+Debt Weight 12.35%×Cost of Debt 2.39%= 10.55%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-03-31.

Total Assets 17.81B USD − Total Liabilities 11.93B USD = Book Value Today 5.88B USD

Total Debt 6.09B USD − Cash and Short-Term Investments 820.82M USD = Net Debt Today 5.27B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1—at most 5%not measured0 / 204,003,471
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets0.3%at least -10.0%passes(1.91B USD − 1.86B USD) ÷ 17.81B USD
Price to bookMarket Cap ÷ Book Value Today7.35×at most 3×does not pass43.23B USD ÷ 5.88B USD
Operating marginOperating Income ÷ Revenue8.7%above 10.0%does not pass2.69B USD ÷ 30.79B USD
Revenue growthRevenue ÷ Revenue a Year Before − 13.8%above 10.0%does not pass30.79B USD / 29.66B USD
Net cash(Cash − Total Debt) ÷ Market Cap-12.2%above -30%passes(820.82M USD − 6.09B USD) ÷ 43.23B USD
Operating efficiencyOperating Income ÷ Gross Profit28.5%above 25.0%passes2.69B USD ÷ 9.44B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

16666.65 GBp

Enterprise value

37.59B GBP

the provider's own figure

EV / EBITDA

12.34×

Price / book

7.39×

the provider's book

Price / earnings

22.02×

Return on equity

—

the provider's figure, not this page's

Profit margin

6.3%

Revenue growth

3.6%

Analyst target, mean

21744.57 GBp

Analysts

5

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

—29.76B29.66B30.79B

Gross profit

—9.03B9.06B9.44B

Operating income

—2.79B2.68B2.69B

EBITDA

operating income before depreciation and amortisation

—2.97B2.98B2.99B

Pretax income

—2.47B2.47B2.43B

Net income

—1.89B1.74B1.86B

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

—1.99B1.76B1.92B

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

15.68B16.01B16.59B17.75B

Total liabilities

11.01B10.97B10.97B11.91B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

4.67B5.04B5.62B5.84B

Total debt

5.13B5.26B5.52B5.97B

Cash and equivalents

771.77M601.60M571.57M674.67M

Net PP&E

fixed assets after depreciation

2.58B3.07B3.32B3.61B

Working capital

current assets less current liabilities

3.76B3.65B4.20B4.12B
Cash flow (USD)2022202320242025

Operating cash flow

1.15B2.73B1.87B1.91B

Capital expenditure

paid out, so below zero

-290.29M-441.44M-372.37M-305.30M

Depreciation and amortisation

301.30M321.32M335.33M373.37M

Free cash flow

operating cash flow plus capital expenditure

859.86M2.28B1.50B1.60B