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Side-by-side financial comparison of Ferguson Enterprises Inc. (FERG) and PNC Financial Services (PNC). Click either name above to swap in a different company.
Ferguson Enterprises Inc. is the larger business by last-quarter revenue ($8.2B vs $6.1B, roughly 1.3× PNC Financial Services). PNC Financial Services runs the higher net margin — 33.5% vs 7.0%, a 26.5% gap on every dollar of revenue. On growth, PNC Financial Services 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 8.6%).
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...
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is one of the largest banks in the US by assets and by number of branches, deposits, and ATMs.
FERG vs PNC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.2B | $6.1B |
| Net Profit | $570.0M | $2.0B |
| Gross Margin | 30.7% | — |
| Operating Margin | 9.4% | 38.4% |
| Net Margin | 7.0% | 33.5% |
| Revenue YoY | 5.1% | 9.1% |
| Net Profit YoY | 21.3% | 25.0% |
| EPS (diluted) | $2.90 | $4.88 |
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.
| Q4 25 | $8.2B | $6.1B | ||
| Q3 25 | $8.5B | $5.9B | ||
| Q2 25 | $7.6B | $5.7B | ||
| Q1 25 | $6.9B | $5.5B | ||
| Q4 24 | $7.8B | $5.6B | ||
| Q3 24 | $7.9B | $5.4B | ||
| Q2 24 | $7.3B | $5.4B | ||
| Q1 24 | $6.7B | $5.1B |
| Q4 25 | $570.0M | $2.0B | ||
| Q3 25 | $700.0M | $1.8B | ||
| Q2 25 | $410.0M | $1.6B | ||
| Q1 25 | $276.0M | $1.5B | ||
| Q4 24 | $470.0M | $1.6B | ||
| Q3 24 | $451.0M | $1.5B | ||
| Q2 24 | $443.0M | $1.5B | ||
| Q1 24 | $322.0M | $1.3B |
| Q4 25 | 30.7% | — | ||
| Q3 25 | 31.7% | — | ||
| Q2 25 | 31.0% | — | ||
| Q1 25 | 29.7% | — | ||
| Q4 24 | 30.1% | — | ||
| Q3 24 | 31.0% | — | ||
| Q2 24 | 30.5% | — | ||
| Q1 24 | 30.4% | — |
| Q4 25 | 9.4% | 38.4% | ||
| Q3 25 | 10.9% | 38.7% | ||
| Q2 25 | 8.0% | 35.8% | ||
| Q1 25 | 6.0% | 33.9% | ||
| Q4 24 | 8.6% | 34.2% | ||
| Q3 24 | 10.2% | 34.3% | ||
| Q2 24 | 8.6% | 33.6% | ||
| Q1 24 | 7.1% | 32.2% |
| Q4 25 | 7.0% | 33.5% | ||
| Q3 25 | 8.2% | 30.8% | ||
| Q2 25 | 5.4% | 29.0% | ||
| Q1 25 | 4.0% | 27.5% | ||
| Q4 24 | 6.0% | 29.2% | ||
| Q3 24 | 5.7% | 27.7% | ||
| Q2 24 | 6.1% | 27.3% | ||
| Q1 24 | 4.8% | 26.1% |
| Q4 25 | $2.90 | $4.88 | ||
| Q3 25 | $3.53 | $4.35 | ||
| Q2 25 | $2.07 | $3.85 | ||
| Q1 25 | $1.38 | $3.51 | ||
| Q4 24 | $2.34 | $3.76 | ||
| Q3 24 | $2.23 | $3.49 | ||
| Q2 24 | $2.18 | $3.39 | ||
| Q1 24 | $1.58 | $3.10 |
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 | — |
| Total DebtLower is stronger | — | $57.1B |
| Stockholders' EquityBook value | $6.1B | $60.6B |
| Total Assets | $17.7B | $573.6B |
| Debt / EquityLower = less leverage | — | 0.94× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $526.0M | — | ||
| Q3 25 | $674.0M | — | ||
| Q2 25 | $519.0M | — | ||
| Q1 25 | $764.0M | — | ||
| Q4 24 | $601.0M | — | ||
| Q3 24 | $571.0M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $57.1B | ||
| Q3 25 | $4.2B | $62.3B | ||
| Q2 25 | — | $60.4B | ||
| Q1 25 | — | $60.7B | ||
| Q4 24 | — | $61.7B | ||
| Q3 24 | $4.0B | $68.1B | ||
| Q2 24 | — | $71.4B | ||
| Q1 24 | — | $72.7B |
| Q4 25 | $6.1B | $60.6B | ||
| Q3 25 | $5.8B | $59.0B | ||
| Q2 25 | $5.5B | $57.6B | ||
| Q1 25 | $5.5B | $56.4B | ||
| Q4 24 | $5.7B | $54.4B | ||
| Q3 24 | $5.6B | $55.7B | ||
| Q2 24 | $5.5B | $52.6B | ||
| Q1 24 | $5.4B | $51.3B |
| Q4 25 | $17.7B | $573.6B | ||
| Q3 25 | $17.7B | $568.8B | ||
| Q2 25 | $17.3B | $559.1B | ||
| Q1 25 | $16.5B | $554.7B | ||
| Q4 24 | $16.9B | $560.0B | ||
| Q3 24 | $16.6B | $564.9B | ||
| Q2 24 | — | $556.5B | ||
| Q1 24 | — | $566.2B |
| Q4 25 | — | 0.94× | ||
| Q3 25 | 0.72× | 1.06× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 1.13× | ||
| Q3 24 | 0.70× | 1.22× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | — | 1.42× |
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 | $757.0M |
| Free Cash FlowOCF − Capex | $312.0M | — |
| FCF MarginFCF / Revenue | 3.8% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | 0.75× | 0.37× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $430.0M | $757.0M | ||
| Q3 25 | $541.0M | $2.7B | ||
| Q2 25 | $682.0M | $1.5B | ||
| Q1 25 | $340.0M | $-509.0M | ||
| Q4 24 | $345.0M | $1.8B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | $312.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $605.0M | — | ||
| Q1 25 | $259.0M | — | ||
| Q4 24 | $268.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 3.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 7.9% | — | ||
| Q1 25 | 3.8% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 1.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.75× | 0.37× | ||
| Q3 25 | 0.77× | 1.46× | ||
| Q2 25 | 1.66× | 0.90× | ||
| Q1 25 | 1.23× | -0.34× | ||
| Q4 24 | 0.73× | 1.11× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 1.31× |
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% |
PNC
| Corporate Institutional Banking Segment | $3.0B | 50% |
| Other | $2.5B | 42% |
| Interchange Fees | $181.0M | 3% |
| Asset Management Fees And Brokerage Fees | $155.0M | 3% |
| Net Credit Card Fees | $59.0M | 1% |
| Merchant Fees | $32.0M | 1% |
| Commercial And Residential Mortgage Banking Fees | $25.0M | 0% |
| Cash And Cash Management Fees Other | $20.0M | 0% |
| Lending And Deposit Services Other | $18.0M | 0% |
| Treasury Management Fees | $10.0M | 0% |
