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Ferguson Enterprises vs Watsco: FERG and WSO compared
Ferguson Enterprises is the larger company: $8.8B of revenue in its latest quarter (Q2 2026) against $2.2B for Watsco (Q3 2026). Watsco is growing faster (+7% against +5% a year earlier). Ferguson Enterprises is more profitable, with an operating margin of 10.2% against 10.1%.
Where the money goes: FERG and WSO
Ferguson Enterprises (FERG) · Q2 2026
Ferguson Enterprises, Q2 2026: revenue $8.8B (+5% year over year), operating margin 10.2%, net earnings $666M, operating cash flow −$56.0M. The chart follows the revenue to costs, profit and cash.
Watsco (WSO) · Q3 2026
Watsco, Q3 2026: revenue $2.2B (+7% year over year), operating margin 10.1%, net earnings $155M, operating cash flow $325M. The chart follows the revenue to costs, profit and cash.
| Ferguson Enterprises (FERG) | Watsco (WSO) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $8.8B | $2.2B |
| Revenue growth, Y/Y | +5% | +7% |
| Gross margin | 31.0% | 26.4% |
| Operating margin | 10.2% | 10.1% |
| Net earnings | $666M | $155M |
| Net margin | 7.6% | 7.0% |
| Operating cash flow | −$56.0M | $325M |
| Free cash flow | — | $315M |
| Market value | $45.7B | $11.7B |
| P/E | — | 21.1× |
| Analysts’ mean target | $283.36 | $347.70 |
Where the revenue comes from
Ferguson Enterprises
- United States Segment: $8.3B (95%)
- Canada Segment: $408M (5%)
Questions
Which is bigger, Ferguson Enterprises or Watsco?
Ferguson Enterprises is the larger company: $8.8B of revenue in its latest quarter (Q2 2026) against $2.2B for Watsco (Q3 2026).
Is Ferguson Enterprises or Watsco growing faster?
Watsco is growing faster (+7% against +5% a year earlier).
Which is more profitable, Ferguson Enterprises or Watsco?
Ferguson Enterprises is more profitable, with an operating margin of 10.2% against 10.1%.
More: Ferguson Enterprises earnings · how Ferguson Enterprises makes money · Watsco earnings · how Watsco makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 10, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.