Ferguson Enterprises Inc.

NYSE-FERG

Operating Activities	Jul '25	Jan '25	Jul '24	Jan '24	Jul '23	Jan '23
Net Income	1,110	746	894	841	920	969
Net Income
Income from Continuing Operations
Depreciation & Amortization	191	182	172	163	159	162
Depreciation and Amortization
Stock Based Compensation	15	13	25	24	24	27
Share-Based Compensation
Other Adjustments	-23	-17	150	-12	67	-35
Income from Discontinued Operations
Change in Deferred Income Taxes
Net Gain on Disposal of Assets and Impairment
Changes in Deferred Income Taxes
Other Operating Activities
Changes in Trade Receivables	-815	494	-663	565	-513	512
Change in Receivables and Other Assets
Changes in Inventories	-179	-94	-200	-52	370	237
Changes in Inventories
Changes in Accounts Payable	878	-600	637	-626	438	-634
Change in Accounts Payable and Other Liabilities
Changes in Income Taxes Payable	46	-39	-5	-40	87	-63
Change in Income Taxes Payable
Cash from Operating Activities	1,223	685	1,010	863	1,552	1,171
Net Cash Provided by Operating Activities

Investing Activities	Jul '25	Jan '25	Jul '24	Jan '24	Jul '23	Jan '23
Capital Expenditure	-147	-158	-180	-192	-199	-242
Purchases of Property, Plant and Equipment
Capital Expenditures
Proceeds from Sale of Property, Plant & Equipment	—	—	—	—	—	—
Net Proceeds from the Disposal of Property, Plant and Equipment, Assets Held for Sale and Right of Use Assets
Purchases of Intangible Assets	—	—	—	—	—	—
Purchases of Intangible Assets
Purchases of Investments	—	—	—	—	—	—
Acquisitions of Associates and Other Investments
Proceeds from Sale of Investments	—	—	—	—	—	—
Disposal of Interests in Associates and Other Investments
Payments for Business Acquisitions	-255	-46	-193	-67	-437	-179
Acquisition of Businesses, Net of Cash Acquired
Acquisitions of Businesses, Net of Cash Acquired
Proceeds from Business Divestments	—	—	—	—	—	—
Disposals of Businesses (Net of Cash Disposed)
Other Investing Activities	51	12	3	28	7	-4
Dividends Received from Associates
Other Investing Activities
Cash from Investing Activities	-351	-192	-370	-231	-629	-425
Net Cash Provided by Investing Activities

Financing Activities	Jul '25	Jan '25	Jul '24	Jan '24	Jul '23	Jan '23
Issuance of Short-Term Debt	5	-1	-22	6	-19	4
Net Proceeds from Short-Term Debt
Net Issuance / (Repayments) of Short-Term Debt	5	-1	-22	6	-19	4
Issuance of Long-Term Debt	2,100	2,521	1,130	1,125	825	1,950
Proceeds from Debt
Repayments of Long-Term Debt	-2,300	-2,100	-955	-1,155	-1,050	-1,880
Repayments of Debt
Repayments of Borrowings
Net Issuance / (Repayments) of Long-Term Debt	-200	421	175	-30	-225	70
Issuance of Common Shares	—	—	17	—	17	—
Proceeds from the Sale of Shares by Employee Benefit Trusts
Proceeds from the Sale of Treasury Shares
Proceeds from the Issue of Shares
Repurchases of Common Shares	-440	-508	-384	-250	-344	-564
Purchase of Own Shares by Employee Benefit Trusts
Purchase of Own Shares by Employee Benefit Trust
Purchase of Treasury Shares
Purchase of Shares by Employee Benefit Trusts
Net Issuance / (Repurchases) of Common Shares	-440	-508	-367	-250	-327	-564
Common Share Dividends Paid	-331	-158	-479	-305	-308	-403
Dividends Paid to Shareholders
Other Financing Activities	-31	-43	-23	-18	-22	-13
Lease Liability Capital Payments
Finance Lease Capital Payments
Other Financing Activities
Cash from Financing Activities	-997	-289	-716	-597	-901	-906
Net Cash Provided by Financing Activities

Free Cash Flow	Jul '25	Jan '25	Jul '24	Jan '24	Jul '23	Jan '23
Free Cash Flow	1,076	527	830	671	1,353	929
NOPAT	1,189.2	806.8	958	909.8	999.7	1,039
Levered Free Cash Flow	1,704	457	1,471	70	1,531	503
Unlevered Free Cash Flow	1,978.2	97.8	1,382	162.8	1,854.7	499
Net Change in Cash	-125	204	-76	35	22	-160