Ferguson Enterprises
17 named things its latest annual report says its results depend on, each in the company's own words. 13 of them are also named by other companies we've read.
Customers
Residential construction market
earns from · approximately half of our net salesnamed as a riskIn fiscal 2025, residential markets and non-residential markets each accounted for approximately half of our net sales, with net sales within these combined markets balanced between RMI (approximately two-thirds of our net sales) and new construction (approximately one-third of our net sales).Risk factors (Item 1A)
Suppliers
U.S.-based suppliers
depends on · Approximately 95% of the products sold in the United StatesApproximately 95% of the products sold in the United States are sourced from U.S.-based suppliers, while approximately 90% of the products sold in Canada are sourced from Canada-based suppliers.Business (Item 1)
Partners and platforms
Competitors
Suppliers vertically integrating (direct sales)
competes withnamed as a riskAdditionally, we have experienced and may continue to experience competitive pressure from certain of our suppliers vertically integrating and selling their products directly to customers.Risk factors (Item 1A)
Places
Hazards
Asbestos litigation
named as a riskWe are and may continue to be involved in legal proceedings such as product liability, asbestos, personal injury, consumer, employment and other litigation that arises from time to time in the ordinary course of our business.Risk factors (Item 1A)
Commodities and inputs
Copper
exposed to its price · up to approximately 15% of annual net salesnamed as a riskThese commodity based products can represent up to approximately 15% of annual net sales.Business (Item 1)
Also named by AAON, AGX, AMKR, APG, APH, APLD, BMI, BWA and 58 more
Steel
exposed to its price · up to approximately 15% of annual net salesnamed as a riskIn the United States, net sales include basic products that contain significant amounts of commodity-priced materials, predominantly plastic, copper and steel, and other components which can be subject to volatile price changes based upon fluctuations in the commodities market.Business (Item 1)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Plastic
exposed to its price · up to approximately 15% of annual net salesnamed as a riskSome of the Company’s products contain significant amounts of commodity-priced materials, predominantly plastic, copper and steel, and other components which are subject to price changes based upon fluctuations in the commodities market.Market risk (Item 7A)
Canadian dollar
exposed to its pricenamed as a riskWe are exposed to foreign currency exchange rate risk with respect to the USD relative to the local currencies of our international subsidiaries, predominantly CAD, arising from transactions in the ordinary course of business (such as sales and loans to wholly owned subsidiaries, sales to third-party customers, and purchases from suppliers).Risk factors (Item 1A)
Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more
Regulators
Laws and programs
U.S. tariffs and reciprocal tariffs
subject tonamed as a riskRecently, the U.S. has announced tariffs and reciprocal tariffs on a wide range of products manufactured or produced worldwide.Risk factors (Item 1A)
Per- and polyfluoroalkyl substances (PFAS) regulations
subject tonamed as a riskOur business is subject to a wide array of domestic and international laws, regulations and standards in jurisdictions where we operate, including advertising and marketing regulations, anti-bribery and corruption/money laundering laws, anti-competition regulations, data privacy and data protection (including payment card industry data security standards) and cybersecurity requirements (including protection of information and incident responses), occupational health and safety regulations, consumer product safety regulations, consumer protection laws, cash and electronic payment regulations and industry standards, environmental protection laws and regulations (including those covering per- and polyfluoroalkyl substances (“PFAS”)), foreign exchange controls and cash repatriation restrictions, government business regulations applicable to us as a government contractor selling to federal, state and local government entities, import and export requirements, intellectual property laws, labor laws, product compliance laws, fleet and driver related laws, supplier regulations regarding the sources of supplies or products, tax laws, zoning laws, unclaimed property laws and laws, regulations and standards applicable to other commercial matters.Risk factors (Item 1A)
Supplier rebate arrangements
depends onnamed as a riskIf we fail to qualify for these rebates or are unable to renew rebate programs on desirable terms, or a supplier materially reduces or stops offering rebates, our costs could materially increase, and our gross margins and net income could be materially adversely affected.Risk factors (Item 1A)
U.K. defined benefit pension plan
named as a riskThe U.K. defined benefit pension plan (the “U.K. Plan”), our largest defined benefit plan, is closed to future service costs.Risk factors (Item 1A)