Ferguson PLC
FERG: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$816.00 | Bslbym | Mgstmlzrb |
Ferguson Has a Scale Advantage in the Fragmented Distribution Market
Business Strategy and Outlook
Ferguson primarily serves three major end markets: repair and remodel (Ferguson refers to this market as repair, maintenance, and improvement), new construction, and civil infrastructure. Between 2008 and 2021, Ferguson's exposure to the U.S. RMI market (as a percentage of sales) increased from 31% to 60%, while U.S. new construction revenue exposure decreased from 58% to 40%.