Ferguson PLC
FERG: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$551.00 | Qrvxbm | Lcbsznp |
US R&R Spending Has Softened but Ferguson Poised for Above-Market Growth in Fiscal 2024
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. Ferguson's exposure to the US RMI market (as a percentage of sales) increased from 31% in 2008 to 60% in 2023, while US new construction revenue exposure decreased from 58% to 40% over the same time period.