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Side-by-side financial comparison of Ferguson Enterprises Inc. (FERG) and Philip Morris International (PM). Click either name above to swap in a different company.
Philip Morris International is the larger business by last-quarter revenue ($10.1B vs $8.2B, roughly 1.2× Ferguson Enterprises Inc.). Philip Morris International runs the higher net margin — 24.0% vs 7.0%, a 17.1% gap on every dollar of revenue. On growth, Philip Morris International posted the faster year-over-year revenue change (9.1% vs 5.1%). Over the past eight quarters, Ferguson Enterprises Inc.'s revenue compounded faster (10.6% CAGR vs 3.5%).
Ferguson Enterprises Inc., headquartered in Newport News, Virginia and organized in Delaware, is the largest U.S. distributor of plumbing, heating, ventilation and air conditioning (HVAC), appliances, and lighting to pipes, valves and fittings (PVF), and water and wastewater products. The company receives 95% of its revenue in the United States and 5% of its revenue in Canada. The company has 36,000 suppliers and operates from 11 regional distribution centers, four MDCs, approximately 5,900 f...
Philip Morris International Inc. (PMI) is a tobacco company, with products sold in over 180 countries. Marlboro is PMI’s most recognized brand, but in the last quarter of 2023, Iqos generated the greatest revenue. Philip Morris International is often referred to as one of the companies comprising Big Tobacco. The company ranked No. 121 in the 2025 Fortune 500 list of the largest US corporations by total revenue.
FERG vs PM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.2B | $10.1B |
| Net Profit | $570.0M | $2.4B |
| Gross Margin | 30.7% | 68.1% |
| Operating Margin | 9.4% | 38.4% |
| Net Margin | 7.0% | 24.0% |
| Revenue YoY | 5.1% | 9.1% |
| Net Profit YoY | 21.3% | -9.4% |
| EPS (diluted) | $2.90 | $1.56 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $10.1B | ||
| Q4 25 | $8.2B | $10.4B | ||
| Q3 25 | $8.5B | $10.8B | ||
| Q2 25 | $7.6B | $10.1B | ||
| Q1 25 | $6.9B | $9.3B | ||
| Q4 24 | $7.8B | $9.7B | ||
| Q3 24 | $7.9B | $9.9B | ||
| Q2 24 | $7.3B | $9.5B |
| Q1 26 | — | $2.4B | ||
| Q4 25 | $570.0M | $2.1B | ||
| Q3 25 | $700.0M | $3.5B | ||
| Q2 25 | $410.0M | $3.0B | ||
| Q1 25 | $276.0M | $2.7B | ||
| Q4 24 | $470.0M | $-579.0M | ||
| Q3 24 | $451.0M | $3.1B | ||
| Q2 24 | $443.0M | $2.4B |
| Q1 26 | — | 68.1% | ||
| Q4 25 | 30.7% | 65.6% | ||
| Q3 25 | 31.7% | 67.8% | ||
| Q2 25 | 31.0% | 67.7% | ||
| Q1 25 | 29.7% | 67.3% | ||
| Q4 24 | 30.1% | 64.7% | ||
| Q3 24 | 31.0% | 66.0% | ||
| Q2 24 | 30.5% | 64.7% |
| Q1 26 | — | 38.4% | ||
| Q4 25 | 9.4% | 32.6% | ||
| Q3 25 | 10.9% | 39.3% | ||
| Q2 25 | 8.0% | 36.6% | ||
| Q1 25 | 6.0% | 38.1% | ||
| Q4 24 | 8.6% | 33.6% | ||
| Q3 24 | 10.2% | 36.9% | ||
| Q2 24 | 8.6% | 36.4% |
| Q1 26 | — | 24.0% | ||
| Q4 25 | 7.0% | 20.7% | ||
| Q3 25 | 8.2% | 32.1% | ||
| Q2 25 | 5.4% | 30.0% | ||
| Q1 25 | 4.0% | 28.9% | ||
| Q4 24 | 6.0% | -6.0% | ||
| Q3 24 | 5.7% | 31.1% | ||
| Q2 24 | 6.1% | 25.4% |
| Q1 26 | — | $1.56 | ||
| Q4 25 | $2.90 | $1.36 | ||
| Q3 25 | $3.53 | $2.23 | ||
| Q2 25 | $2.07 | $1.95 | ||
| Q1 25 | $1.38 | $1.72 | ||
| Q4 24 | $2.34 | $-0.37 | ||
| Q3 24 | $2.23 | $1.97 | ||
| Q2 24 | $2.18 | $1.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $526.0M | $5.5B |
| Total DebtLower is stronger | — | $49.5B |
| Stockholders' EquityBook value | $6.1B | — |
| Total Assets | $17.7B | $68.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.5B | ||
| Q4 25 | $526.0M | $4.9B | ||
| Q3 25 | $674.0M | $4.0B | ||
| Q2 25 | $519.0M | $4.1B | ||
| Q1 25 | $764.0M | $4.4B | ||
| Q4 24 | $601.0M | $4.2B | ||
| Q3 24 | $571.0M | $4.3B | ||
| Q2 24 | — | $4.8B |
| Q1 26 | — | $49.5B | ||
| Q4 25 | — | $45.1B | ||
| Q3 25 | $4.2B | $41.9B | ||
| Q2 25 | — | $42.4B | ||
| Q1 25 | — | $38.8B | ||
| Q4 24 | — | $42.2B | ||
| Q3 24 | $4.0B | $44.2B | ||
| Q2 24 | — | $44.6B |
| Q1 26 | — | — | ||
| Q4 25 | $6.1B | $-10.0B | ||
| Q3 25 | $5.8B | $-10.9B | ||
| Q2 25 | $5.5B | $-12.0B | ||
| Q1 25 | $5.5B | $-10.9B | ||
| Q4 24 | $5.7B | $-11.8B | ||
| Q3 24 | $5.6B | $-9.7B | ||
| Q2 24 | $5.5B | $-9.7B |
| Q1 26 | — | $68.9B | ||
| Q4 25 | $17.7B | $69.2B | ||
| Q3 25 | $17.7B | $67.1B | ||
| Q2 25 | $17.3B | $68.5B | ||
| Q1 25 | $16.5B | $65.1B | ||
| Q4 24 | $16.9B | $61.8B | ||
| Q3 24 | $16.6B | $66.9B | ||
| Q2 24 | — | $65.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $430.0M | — |
| Free Cash FlowOCF − Capex | $312.0M | — |
| FCF MarginFCF / Revenue | 3.8% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | 0.75× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $430.0M | $4.7B | ||
| Q3 25 | $541.0M | $4.5B | ||
| Q2 25 | $682.0M | $3.4B | ||
| Q1 25 | $340.0M | $-350.0M | ||
| Q4 24 | $345.0M | $4.0B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $4.6B |
| Q1 26 | — | — | ||
| Q4 25 | $312.0M | $4.3B | ||
| Q3 25 | — | $4.1B | ||
| Q2 25 | $605.0M | $3.1B | ||
| Q1 25 | $259.0M | $-754.0M | ||
| Q4 24 | $268.0M | $3.7B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $4.3B |
| Q1 26 | — | — | ||
| Q4 25 | 3.8% | 41.2% | ||
| Q3 25 | — | 37.8% | ||
| Q2 25 | 7.9% | 30.1% | ||
| Q1 25 | 3.8% | -8.1% | ||
| Q4 24 | 3.4% | 38.4% | ||
| Q3 24 | — | 29.9% | ||
| Q2 24 | — | 45.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 4.3% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | 1.0% | 3.5% | ||
| Q1 25 | 1.2% | 4.3% | ||
| Q4 24 | 1.0% | 2.9% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 3.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.75× | 2.20× | ||
| Q3 25 | 0.77× | 1.28× | ||
| Q2 25 | 1.66× | 1.12× | ||
| Q1 25 | 1.23× | -0.13× | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | — | 1.08× | ||
| Q2 24 | — | 1.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FERG
| United States Segment | $7.8B | 95% |
| Other | $412.0M | 5% |
PM
Segment breakdown not available.
