Filing Flows › Ferguson Enterprises (FERG) › Q1 2026 › vs Q1 2025
Ferguson Enterprises (FERG) Q1 2026 vs Q1 2025 (year over year)
Ferguson Enterprises's revenue rose $259M (+4%) from $7.2B in Q1 2025 to $7.5B in Q1 2026. The biggest changes: United States Segment +$242M (+4%); Canada Segment +$17.0M (+6%). Gross margin 31.0% against 30.7% (+0.3 pts).
Ferguson Enterprises, Q1 2026: revenue $7.5B (+4% year over year), operating margin 8.2%, net earnings $414M, operating cash flow $772M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 31.0% | 30.7% | +0.3 pts |
| Operating margin | 8.2% | 7.0% | +1.2 pts |
| Net margin | 5.5% | 4.8% | +0.8 pts |
| Free cash flow margin | 9.1% | 11.1% | -2.0 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| United States Segment | $7.1B | $6.9B | $242M | +4% |
| Canada Segment | $326M | $309M | $17.0M | +6% |
| Revenue | $7.5B | $7.2B | $259M | +4% |
| Gross profit | $2.3B | $2.2B | $102M | +5% |
| Cost of revenue | $5.2B | $5.0B | $157M | +3% |
| Operating profit | $612M | $507M | $105M | +21% |
| Operating expenses | $1.7B | $1.7B | −$3.0M | -0.2% |
| Pre-tax earnings | $560M | $469M | $91.0M | +19% |
| Other expense, net | $52.0M | $38.0M | $14.0M | +37% |
| SG&A | $1.6B | $1.6B | $42.0M | +3% |
| Other operating costs | $99.0M | $144M | −$45.0M | -31% |
| Net earnings | $414M | $345M | $69.0M | +20% |
| Income tax | $146M | $124M | $22.0M | +18% |
| Depreciation & amortization | $97.0M | $93.0M | $4.0M | +4% |
| Share-based compensation | $16.0M | $9.0M | $7.0M | +78% |
| Working capital & other | $245M | $427M | −$182M | -43% |
| Operating cash flow | $772M | $874M | −$102M | -12% |
| Free cash flow (OCF − capex) | $680M | $801M | −$121M | -15% |
| Capital expenditures | $92.0M | $73.0M | $19.0M | +26% |
Questions
How much did Ferguson Enterprises's revenue grow year over year in Q1 2026?
Ferguson Enterprises's revenue rose $259M (+4%) from $7.2B in Q1 2025 to $7.5B in Q1 2026.
What drove Ferguson Enterprises's revenue change in Q1 2026?
United States Segment +$242M (+4%); Canada Segment +$17.0M (+6%).