Ferguson Enterprises is the largest specialty distributor of plumbing, HVAC, and waterworks products in North America. Headquartered in Newport News, Virginia, the company reported $31.3 billion in net sales for the twelve months ending December 31, 2025, operates over 1,700 locations, and employs approximately 35,000 people. Its stock trades on both the New York Stock Exchange and the London Stock Exchange under the ticker symbol FERG.
What Ferguson Actually Sells
Ferguson is not a retailer you walk into to grab a wrench. It is primarily a business-to-business distributor, meaning its core customers are professional contractors, municipalities, and industrial operators rather than everyday consumers. The company stocks and delivers an enormous range of products: pipes, valves, fittings, water heaters, HVAC equipment, fire protection systems, water meters, lighting fixtures, and thousands of other items that go into building and maintaining homes, commercial buildings, and public infrastructure.
The one exception to the trade-only model is Ferguson Home, a national network of showrooms where homeowners can browse bathroom, kitchen, and lighting products in person and get help with project management for renovations.
How the Company Is Organized
Ferguson splits its operations into eight customer-facing business groups, each serving a distinct segment of the construction and infrastructure market:
- Residential Trade Plumbing sells to plumbing contractors working on both new home construction and repair or remodel projects.
- Commercial/Mechanical supplies plumbing and mechanical contractors building or renovating schools, hospitals, office buildings, and hotels.
- HVAC serves contractors who install, repair, and maintain heating, ventilation, and air conditioning systems in residential and light commercial settings.
- Waterworks handles large-scale water, sewer, and stormwater projects for public water authorities, utility contractors, and municipal agencies.
- Fire & Fabrication fabricates and supplies fire protection products and systems, primarily for commercial buildings.
- Facilities Supply provides maintenance and repair products to multi-family properties, hotels, healthcare facilities, and building service contractors.
- Industrial operates across niche sectors like energy, mining, chemical processing, pulp and paper, pharmaceuticals, and food and beverage manufacturing.
- Ferguson Home runs the consumer-facing showrooms for kitchen, bath, and lighting design.
Who Its Customers Are
The vast majority of Ferguson’s revenue comes from trade professionals. A residential plumber ordering pipe fittings for a bathroom remodel, an HVAC contractor sourcing equipment for a new apartment complex, a municipal water authority buying meters and valves for a citywide upgrade: these are Ferguson’s typical buyers. The company also sells directly to industrial end users and manufacturers in sectors like energy and pharmaceuticals.
For homeowners, Ferguson is most visible through its showroom network. If you are remodeling a kitchen or bathroom, you might visit a Ferguson Home showroom to pick out fixtures and finishes, often at the recommendation of your contractor. Outside of that, most of Ferguson’s business happens behind the scenes of construction projects you never interact with directly.
Scale and Market Position
With $31.3 billion in annual revenue and over 1,700 locations, Ferguson is the dominant player in its category across North America. Distribution in the plumbing and HVAC world is highly fragmented, with many regional and local competitors, so Ferguson’s national footprint and deep inventory give it a significant logistics advantage. Contractors rely on distributors like Ferguson because they need materials delivered on schedule to job sites. Having a branch nearby with the right product in stock can make or break a project timeline.
The company continues to grow through acquisitions. In its fiscal year ending July 31, 2025, Ferguson closed nine acquisitions with combined annualized revenues of roughly $300 million. Recent deals reflect a pattern of filling geographic gaps and adding technical capabilities. For example, it acquired a water meter distributor to expand its municipal waterworks business, an HVAC parts distributor with duct fabrication capabilities, and a manufacturer’s representative to enter the mechanical room design and specification business.
Corporate Structure
Ferguson Enterprises Inc. is the current U.S.-domiciled parent company. It was previously a subsidiary of Ferguson plc, a UK-listed holding company. In 2024, the company restructured so that the U.S. entity became the top-level parent, and the old Ferguson plc listing was canceled. The common stock now trades on both the NYSE and the LSE under the same FERG ticker. For practical purposes, Ferguson is an American company run out of Virginia, with the dual listing giving it access to both U.S. and UK investors.
Why You Might Encounter Ferguson
If you are a homeowner, you will most likely encounter Ferguson through a contractor who sources materials from one of its branches, or by visiting a Ferguson Home showroom during a renovation. If you are a professional in the trades, Ferguson is one of the largest potential suppliers for plumbing, HVAC, fire protection, and waterworks products. And if you are an investor or job seeker, Ferguson is a Fortune 500 company with a large workforce and a consistent acquisition strategy that continues to expand its reach across North American infrastructure markets.