Financials Ferguson plc Börse Stuttgart

Equities

24W5

JE00BJVNSS43

Construction Supplies & Fixtures

Market Closed - Börse Stuttgart Other stock markets 09:30:59 2024-06-28 EDT			5-day change	1st Jan Change
178.9 ^EUR	-0.20%		-0.20%	+11.81%

06-24	Peel Hunt cuts Flutter to 'hold'	AN
06-10	Ferguson Hires JP Morgan Securities for Share-Buyback Program	MT

Valuation

Fiscal Period: Juli	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	17,104	19,976	31,017	26,643	32,927	39,056	-	-
Enterprise Value (EV) ¹	18,321	22,373	33,483	29,837	36,127	42,692	42,488	42,215
P/E ratio	-	-	20.9 x	13 x	17.7 x	21.3 x	19.1 x	16.7 x
Yield	-	-	1.71%	2.18%	1.86%	1.62%	1.69%	1.83%
Capitalization / Revenue	0.78 x	0.92 x	1.36 x	0.93 x	1.11 x	1.31 x	1.25 x	1.17 x
EV / Revenue	0.83 x	1.03 x	1.47 x	1.04 x	1.22 x	1.43 x	1.36 x	1.26 x
EV / EBITDA	10.2 x	12.4 x	14.8 x	9.46 x	11.6 x	14.2 x	13.2 x	12 x
EV / FCF	20.2 x	13.5 x	24.5 x	34.7 x	15.8 x	23.4 x	23.4 x	21.5 x
FCF Yield	4.96%	7.39%	4.08%	2.88%	6.32%	4.28%	4.27%	4.66%
Price to Book	-	-	-	5.68 x	6.58 x	6.98 x	6.37 x	5.38 x
Nbr of stocks (in thousands)	228,570	223,566	221,473	211,316	203,734	201,684	-	-
Reference price ²	74.83	89.35	140.0	126.1	161.6	193.6	193.6	193.6
Announcement Date	10/1/19	9/29/20	9/28/21	9/27/22	9/26/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Juli	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	22,010	21,819	22,792	28,566	29,734	29,759	31,271	33,426
EBITDA ¹	1,788	1,797	2,266	3,153	3,105	2,998	3,225	3,522
EBIT ¹	1,606	1,603	2,099	2,951	2,917	2,769	2,988	3,258
Operating Margin	7.3%	7.35%	9.21%	10.33%	9.81%	9.3%	9.56%	9.75%
Earnings before Tax (EBT) ¹	1,324	1,261	1,891	2,708	2,464	2,470	2,653	2,954
Net income ¹	1,108	961	1,508	2,122	1,889	1,850	2,020	2,271
Net margin	5.03%	4.4%	6.62%	7.43%	6.35%	6.22%	6.46%	6.79%
EPS ²	-	-	6.705	9.690	9.120	9.085	10.16	11.58
Free Cash Flow ¹	908	1,653	1,367	859	2,282	1,826	1,815	1,966
FCF margin	4.13%	7.58%	6%	3.01%	7.67%	6.14%	5.8%	5.88%
FCF Conversion (EBITDA)	50.78%	91.99%	60.33%	27.24%	73.49%	60.91%	56.27%	55.83%
FCF Conversion (Net income)	81.95%	172.01%	90.65%	40.48%	120.8%	98.72%	89.84%	86.59%
Dividend per Share ²	-	-	2.394	2.750	3.000	3.140	3.273	3.550
Announcement Date	10/1/19	9/29/20	9/28/21	9/27/22	9/26/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Juli	2020 S1	2020 S2	2021 S1	2021 S2	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4	2025 S2
Net sales ¹	10,966	10,853	10,309	12,483	6,508	13,311	7,284	7,971	15,255	7,931	6,825	14,756	7,140	7,838	14,978	7,708	6,673	14,381	7,308	8,062	15,394	8,057	7,081	14,856	7,763	8,512	16,221
EBITDA ¹	872	-	918	-	648	-	795	896	-	912	630	-	705	858	-	819	568	-	722	878.3	-	875.6	638	-	801	957.9	-
EBIT ¹	777	-	886	1,281	588	1,355	747	849	1,596	864	582	1,446	657	814	1,471	773	520	1,293	674	820.3	1,544	825.6	586.7	1,523	748.6	904.9	1,667
Operating Margin	7.09%	-	8.59%	10.26%	9.04%	10.18%	10.26%	10.65%	10.46%	10.89%	8.53%	9.8%	9.2%	10.39%	9.82%	10.03%	7.79%	8.99%	9.22%	10.17%	10.03%	10.25%	8.28%	10.25%	9.64%	10.63%	10.28%
Earnings before Tax (EBT) ¹	-	621	-	-	532	-	690	775	-	792	-	-	447	730	-	691	433	-	581	740.8	-	758.5	521	-	672	817.5	-
Net income ¹	-	494	-	-	436	-	546	580	-	595	-	-	336	584	-	519	322	-	443	552.9	-	562.7	383.9	-	502.4	614.4	-
Net margin	-	4.55%	-	-	6.7%	-	7.5%	7.28%	-	7.5%	-	-	4.71%	7.45%	-	6.73%	4.83%	-	6.06%	6.86%	-	6.98%	5.42%	-	6.47%	7.22%	-
EPS ²	-	-	-	-	-	-	-	-	-	-	-	-	1.630	2.850	-	2.540	1.580	-	2.180	2.749	-	2.755	1.861	-	2.516	3.105	-
Dividend per Share ²	-	-	-	-	-	-	-	-	-	-	-	-	0.7500	0.7500	-	0.7900	0.7900	-	0.7900	0.7900	-	0.7900	0.8295	-	0.8295	0.8295	-
Announcement Date	3/17/20	9/29/20	3/16/21	9/28/21	3/15/22	3/15/22	6/14/22	9/27/22	9/27/22	12/6/22	3/7/23	3/7/23	6/6/23	9/26/23	9/26/23	12/5/23	3/5/24	3/5/24	6/4/24	-	-	-	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: Juli	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	1,217	2,397	2,466	3,194	3,200	3,636	3,432	3,159
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.6806 x	1.334 x	1.088 x	1.013 x	1.031 x	1.213 x	1.064 x	0.897 x
Free Cash Flow ¹	908	1,653	1,367	859	2,282	1,826	1,815	1,966
ROE (net income / shareholders' equity)	28.3%	26.4%	33.7%	43.9%	38.9%	35.4%	34.1%	33.6%
ROA (Net income/ Total Assets)	11.1%	9.26%	11.2%	14.5%	11.9%	11.8%	11.5%	11.7%
Assets ¹	10,017	10,380	13,471	14,685	15,828	15,638	17,618	19,332
Book Value Per Share ²	-	-	-	22.20	24.60	27.70	30.40	36.00
Cash Flow per Share ²	-	-	6.850	3.950	13.20	9.720	9.590	10.00
Capex ¹	382	215	174	290	441	389	424	460
Capex / Sales	1.74%	0.99%	0.76%	1.02%	1.48%	1.31%	1.36%	1.38%
Announcement Date	10/1/19	9/29/20	9/28/21	9/27/22	9/26/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Ferguson plc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

193.6 USD

Average target price

216.7 USD

Spread / Average Target

+11.90%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Construction Supplies & Fixtures Wholesale

	1st Jan change	Capi.
REECE LIMITED	+12.42%	10.85B
BEACON ROOFING SUPPLY, INC.	+4.00%	5.76B
BOISE CASCADE COMPANY	-7.84%	4.71B
CHIN HIN GROUP	+97.17%	2.61B
BLUELINX HOLDINGS INC.	-17.84%	806M
YUASA TRADING CO., LTD.	+19.62%	740M
ADENTRA INC.	+16.58%	681M
DOMAN BUILDING MATERIALS GROUP LTD.	-16.53%	441M
SIG PLC	-25.45%	364M

Construction Supplies & Fixtures Wholesale