Filing Flows › Ferguson Enterprises (FERG) › Q3 2025
Ferguson Enterprises (FERG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Dec 9, 2025
Ferguson Enterprises (FERG) reported revenue of $8.2B for the third quarter 2025 (Q3 2025), +5% from a year earlier and -4% from the quarter before. Operating margin was 9.4%, net earnings $570M (7.0% of revenue).
Ferguson Enterprises, Q3 2025: revenue $8.2B (+5% year over year), operating margin 9.4%, net earnings $570M, operating cash flow $430M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.2B | -4% | +5% |
| Gross profit | $2.5B | -7% | +7% |
| Operating profit | $771M | -17% | +16% |
| Net earnings | $570M | -19% | +21% |
| Operating cash flow | $430M | -21% | +25% |
| Free cash flow | $312M | -34% | +16% |
What changed
Revenue was $8.2B in Q3 2025, up 5% year over year and down 4% from the previous quarter. United States Segment was the largest line at 95% of revenue. United States Segment added $0.39B year over year (up 5%), 98% of the total change.
Gross margin was 30.7%, up 0.6 points from a year earlier. Operating profit was $0.77B, a 9.4% margin (up 0.9 points year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 9% margin then. Operating expenses grew 4% against revenue growth of 5%. Net earnings were $0.57B, up 21% year over year. The effective tax rate was 19.9%.
Operating cash flow was $0.43B (up 25% year over year), 75% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.30B. Capital expenditures of $0.12B left free cash flow of $0.31B.
Questions
What was Ferguson Enterprises' revenue in the third quarter 2025?
Ferguson Enterprises (FERG) reported revenue of $8.2B for the third quarter 2025 (Q3 2025), +5% from a year earlier and -4% from the quarter before.
Was Ferguson Enterprises profitable in the third quarter 2025?
Operating profit was $771M (9.4% of revenue) and net earnings $570M.