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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay Versus Performance
The following table sets forth certain information with respect to the Company’s financial performance and the
compensation
paid to our NEOs for the fiscal years ended on July 31, 2021, July 31, 2022, July 31, 2023 and July 31, 2024.
 
         
Value of Initial Fixed $100
Investment
(7
)
Based On:
    
Fiscal Year
Summary
Compensation
Table Total for
PEO ($)
(1
)
Compensation
Actually Paid
to PEO ($)
(2)(3
)
Average
Summary
Compensation
Table Total for
Non-PEO

NEOs ($)
(4
)
Average
Compensation
Actually Paid
to
Non-PEO

NEOs ($)
(2)(4)(5
)
Ferguson
Total
Shareholder
Return ($)
Peer Group
Total
Shareholder
Return ($)
(6
)
Net
Income ($ in
millions)
Adjusted
Operating
Profit ($ in
millions)
(7)
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
2024
   9,052,716   14,568,013   2,862,832   3,256,059   272.31   190.61   1,735   2,824
2023
   5,440,771   8,744,806   2,265,568   2,894,814   194.42   161.85   1,889   2,917
2022
   4,865,698   5,377,614   2,212,036   2,503,838   146.64   137.61   2,122   2,951
2021
   5,048,917   12,573,301   1,171,378   345,655   160.17   146.43   1,472   2,092
Notes:
(1) The principal executive officer (“PEO”) is Kevin Murphy, who has remained the Chief Executive Officer for the duration of the disclosure period.
(2) In calculating the ‘compensation actually paid’ amounts reflected in these columns, the fair value or change in fair value, as applicable, of the equity award adjustments included in such calculations was computed in accordance with FASB ASC Topic 718. This valuation assumption used to calculate such fair values did not materially differ from those disclosed at the time of grant. We do not have pensions in the U.S.; therefore, an adjustment to the 2024 Summary Compensation Table (“SCT”) totals related to pension value for any of the years reflected in this table is not needed.
(3) To calculate the Compensation Actually Paid (“CAP”) for the PEO, the following adjustments were made to SCT total compensation, calculated in accordance with the SEC methodology for determining CAP for each year shown:
 
       
Adjustments to SCT
    
Fiscal Year
  
SCT Total
for PEO ($)
  
Less,
Grant Date
Fair Value
of Awards
Reported
in FY SCT ($)
  
Plus, Year-End Fair
Value of
Awards granted in
FY that are
outstanding
and
unvested as of
end of FY ($)
  
Plus, Vesting
Date Fair Value
of Awards that
are granted
and vested in
the same FY ($)
  
Plus, Change in Fair
Value of Prior
Year Awards
outstanding
and unvested
as of end of FY ($)
  
Plus, Change in
Fair Value
of Prior Year
Awards that
vested in FY ($)
  
Less,
Prior Year
Awards
that fail to
meet
vesting
conditions
during FY ($)
  
Plus, Dividends
or other
earnings paid
on all awards in
FY prior to
vesting date ($)
  
CAP for
PEO ($)
2024
       9,052,716       5,121,132       7,121,232       —       3,414,384       100,814       —       —       14,568,013
2023
       5,440,771       2,520,730       3,947,882       —       2,331,881       (454,998 )       —       —       8,744,806
2022
       4,865,698       2,047,019       3,494,039       —       (1,138,890 )       203,786       —       —       5,377,614
2021
       5,048,917       1,986,339       5,307,895       —       3,867,497       335,331       —       —       12,573,301
(4) The
non-PEO
NEOs represent the following individuals for each of the years shown.
 
 
•
  
2024: Bill Brundage, Chief Financial Officer; Ian Graham, Chief Legal Officer; Sammie Long, former Chief Human Resources Officer of Ferguson plc; Bill Thees, Senior Vice President.
 
 
•
  
2023: Bill Brundage, Chief Financial Officer; Ian Graham, Chief Legal Officer; Sammie Long, former Chief Human Resources Officer of Ferguson plc; Bill Thees, Senior Vice President.
 
 
•
  
2022: Bill Brundage, Chief Financial Officer.
 
 
•
  
2021: Bill Brundage, Chief Financial Officer; Mike Powell, former Group Chief Financial Officer of Ferguson plc.
(5) To calculate the CAP for the
non-PEO
NEOs, the following adjustments were made to SCT total compensation, calculated in accordance with the SEC methodology for determining CAP for each year shown:
 
       
Adjustments to SCT
    
Year
  
SCT Total for
Non-PEO

NEOs ($)
  
Less,
Grant Date
Fair Value of
Awards
Reported in
FY SCT ($)
  
Plus, Year-End

Fair Value of
Awards granted
in FY that are
outstanding
and unvested
as of end of FY ($)
  
Plus, Vesting
Date Fair
Value of
Awards that
are granted
and vested
in the same FY ($)
  
Plus, Change in Fair
Value of Prior
Year Awards
outstanding and
unvested as of
end of FY ($)
  
Plus, Change in
Fair Value of
Prior Year
Awards that
vested in FY ($)
  
Less, Prior
Year Awards
that fail to
meet vesting
conditions
during FY ($)
  
Plus, Dividends
or other
earnings paid
on all awards
in FY prior to
vesting date ($)
  
CAP for
Non-PEO

NEOs ($)
2024
       2,862,832       1,346,175       1,261,209       28,444       480,865       32,584       63,700       —       3,256,059
2023
       2,265,568       908,195       998,610       —       778,288       (239,457 )       —       —       2,894,814
2022
       2,212,036       816,013       1,392,846       —       (356,654 )       71,623       —       —       2,503,838
2021
       1,171,378       363,394       1,003,318       —       574,938       180,745       2,221,330       —       345,655
(6) The selected peer group is the S&P 500 Industrials Index. The comparison of total shareholder returns assumes that $100 was invested on July 31, 2020 in Company shares and the S&P 500 Index and that dividends were reinvested on the day prior to ex-dividend date.
(7) Our company-selected measure, which is the measure we believe represents the most important financial performance not otherwise presented in the table above that we use to link CAP to our NEOs for fiscal 2024 to our Company’s performance, is adjusted operating profit, a
non-GAAP
measure. Adjusted operating profit is defined as operating profit before acquisition related intangible amortization and certain other
non-GAAP
adjustments, as further described in the section titled
“Non-GAAP
Reconciliations and Supplementary Information.”
     
Company Selected Measure Name Adjusted operating profit      
Named Executive Officers, Footnote
(4) The
non-PEO
NEOs represent the following individuals for each of the years shown.
 
 
•
  
2024: Bill Brundage, Chief Financial Officer; Ian Graham, Chief Legal Officer; Sammie Long, former Chief Human Resources Officer of Ferguson plc; Bill Thees, Senior Vice President.
 
 
•
  
2023: Bill Brundage, Chief Financial Officer; Ian Graham, Chief Legal Officer; Sammie Long, former Chief Human Resources Officer of Ferguson plc; Bill Thees, Senior Vice President.
 
 
•
  
2022: Bill Brundage, Chief Financial Officer.
 
 
•
  
2021: Bill Brundage, Chief Financial Officer; Mike Powell, former Group Chief Financial Officer of Ferguson plc.
     
Peer Group Issuers, Footnote The selected peer group is the S&P 500 Industrials Index. The comparison of total shareholder returns assumes that $100 was invested on July 31, 2020 in Company shares and the S&P 500 Index and that dividends were reinvested on the day prior to ex-dividend date.      
PEO Total Compensation Amount $ 9,052,716 $ 5,440,771 $ 4,865,698 $ 5,048,917
PEO Actually Paid Compensation Amount $ 14,568,013 8,744,806 5,377,614 12,573,301
Adjustment To PEO Compensation, Footnote
(3) To calculate the Compensation Actually Paid (“CAP”) for the PEO, the following adjustments were made to SCT total compensation, calculated in accordance with the SEC methodology for determining CAP for each year shown:
 
       
Adjustments to SCT
    
Fiscal Year
  
SCT Total
for PEO ($)
  
Less,
Grant Date
Fair Value
of Awards
Reported
in FY SCT ($)
  
Plus, Year-End Fair
Value of
Awards granted in
FY that are
outstanding
and
unvested as of
end of FY ($)
  
Plus, Vesting
Date Fair Value
of Awards that
are granted
and vested in
the same FY ($)
  
Plus, Change in Fair
Value of Prior
Year Awards
outstanding
and unvested
as of end of FY ($)
  
Plus, Change in
Fair Value
of Prior Year
Awards that
vested in FY ($)
  
Less,
Prior Year
Awards
that fail to
meet
vesting
conditions
during FY ($)
  
Plus, Dividends
or other
earnings paid
on all awards in
FY prior to
vesting date ($)
  
CAP for
PEO ($)
2024
       9,052,716       5,121,132       7,121,232       —       3,414,384       100,814       —       —       14,568,013
2023
       5,440,771       2,520,730       3,947,882       —       2,331,881       (454,998 )       —       —       8,744,806
2022
       4,865,698       2,047,019       3,494,039       —       (1,138,890 )       203,786       —       —       5,377,614
2021
       5,048,917       1,986,339       5,307,895       —       3,867,497       335,331       —       —       12,573,301
     
Non-PEO NEO Average Total Compensation Amount $ 2,862,832 2,265,568 2,212,036 1,171,378
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,256,059 2,894,814 2,503,838 345,655
Adjustment to Non-PEO NEO Compensation Footnote
(5) To calculate the CAP for the
non-PEO
NEOs, the following adjustments were made to SCT total compensation, calculated in accordance with the SEC methodology for determining CAP for each year shown:
 
       
Adjustments to SCT
    
Year
  
SCT Total for
Non-PEO

NEOs ($)
  
Less,
Grant Date
Fair Value of
Awards
Reported in
FY SCT ($)
  
Plus, Year-End

Fair Value of
Awards granted
in FY that are
outstanding
and unvested
as of end of FY ($)
  
Plus, Vesting
Date Fair
Value of
Awards that
are granted
and vested
in the same FY ($)
  
Plus, Change in Fair
Value of Prior
Year Awards
outstanding and
unvested as of
end of FY ($)
  
Plus, Change in
Fair Value of
Prior Year
Awards that
vested in FY ($)
  
Less, Prior
Year Awards
that fail to
meet vesting
conditions
during FY ($)
  
Plus, Dividends
or other
earnings paid
on all awards
in FY prior to
vesting date ($)
  
CAP for
Non-PEO

NEOs ($)
2024
       2,862,832       1,346,175       1,261,209       28,444       480,865       32,584       63,700       —       3,256,059
2023
       2,265,568       908,195       998,610       —       778,288       (239,457 )       —       —       2,894,814
2022
       2,212,036       816,013       1,392,846       —       (356,654 )       71,623       —       —       2,503,838
2021
       1,171,378       363,394       1,003,318       —       574,938       180,745       2,221,330       —       345,655
(6) The selected peer group is the S&P 500 Industrials Index. The comparison of total shareholder returns assumes that $100 was invested on July 31, 2020 in Company shares and the S&P 500 Index and that dividends were reinvested on the day prior to ex-dividend date.
(7) Our company-selected measure, which is the measure we believe represents the most important financial performance not otherwise presented in the table above that we use to link CAP to our NEOs for fiscal 2024 to our Company’s performance, is adjusted operating profit, a
non-GAAP
measure. Adjusted operating profit is defined as operating profit before acquisition related intangible amortization and certain other
non-GAAP
adjustments, as further described in the section titled
“Non-GAAP
Reconciliations and Supplementary Information.”
     
Compensation Actually Paid vs. Total Shareholder Return
LOGO
     
Compensation Actually Paid vs. Net Income
LOGO
     
Compensation Actually Paid vs. Company Selected Measure
LOGO
     
Total Shareholder Return Vs Peer Group
LOGO
     
Tabular List, Table
The items listed below represent the most important financial performance measures used by us to link compensation actually paid to our NEOs to Company performance for the fiscal year ended July 31, 2024:
 
Most Important Performance Measures
for PEO and
Non-PEO
NEOs
(1)
Adjusted Operating Profit
(2)
Adjusted Earnings per Share (“EPS”) - Diluted
(3)
Return on Capital Employed (ROCE)
(4)
Notes:
(1) The most important performance measures include our company selected measure and the two financial metrics used for long-term incentive awards with performance-based vesting, as described in our Compensation Discussion and Analysis within the section titled Long-Term Equity-Based Incentive Program. Each of these
measures
is a critical operational metric reported to shareholders.
(2) See footnote (7) above for the definition of adjusted operating profit.
(3) Adjusted EPS - diluted is defined as adjusted net income divided by the weighted average diluted shares outstanding. Adjusted net income is defined as income from continuing operations before amortization of acquired intangible assets (net of tax), discrete tax items and other items that are
non-recurring
(net of tax). See the section titled
“Non-GAAP
Reconciliations and Supplementary Information” for more information.
(4) ROCE is defined as adjusted earnings before interest and taxes (“Adjusted EBIT”) divided by average capital employed. Adjusted EBIT is defined as operating profit from continuing operations excluding certain non-GAAP adjustments, as further described in
the
section titled
“Non-GAAP
Reconciliations and Supplementary Information,” and including the impact of acquisition related intangible amortization. Average capital employed is defined as the sum of average net debt and average shareholders’ equity and excludes average assets held for sale. See the section titled
“Non-GAAP
Reconciliations and Supplementary Information” for more information.
         
 
 
 
76  
 
2024
PROXY STATEMENT
FERGUSON ENTERPRISES INC.
      
Total Shareholder Return Amount $ 272.31 194.42 146.64 160.17
Peer Group Total Shareholder Return Amount 190.61 161.85 137.61 146.43
Net Income (Loss) $ 1,735,000,000 $ 1,889,000,000 $ 2,122,000,000 $ 1,472,000,000
Company Selected Measure Amount 2,824,000,000 2,917,000,000 2,951,000,000 2,092,000,000
PEO Name Kevin Murphy      
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted Operating Profit      
Non-GAAP Measure Description Our company-selected measure, which is the measure we believe represents the most important financial performance not otherwise presented in the table above that we use to link CAP to our NEOs for fiscal 2024 to our Company’s performance, is adjusted operating profit, a
non-GAAP
measure. Adjusted operating profit is defined as operating profit before acquisition related intangible amortization and certain other
non-GAAP
adjustments, as further described in the section titled
“Non-GAAP
Reconciliations and Supplementary Information.” 		     
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted Earnings per Share (“EPS”) - Diluted      
Measure:: 3        
Pay vs Performance Disclosure        
Name Return on Capital Employed (ROCE)      
PEO | Grant Date Fair Value of Awards Reported in FY SCT [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (5,121,132) $ (2,520,730) $ (2,047,019) $ (1,986,339)
PEO | Awards granted in FY that are outstanding and unvested as of end of FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 7,121,232 3,947,882 3,494,039 5,307,895
PEO | Awards that are granted and vested in the same FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Prior Year Awards outstanding and unvested as of end of FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,414,384 2,331,881 (1,138,890) 3,867,497
PEO | Prior Year Awards that vested in FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 100,814 (454,998) 203,786 335,331
PEO | Prior Year Awards that fail to meet vesting conditions during FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
PEO | Dividends or other earnings paid on all awards in CFY prior to vesting date [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0 0 0
Non-PEO NEO | Grant Date Fair Value of Awards Reported in FY SCT [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,346,175) (908,195) (816,013) (363,394)
Non-PEO NEO | Awards granted in FY that are outstanding and unvested as of end of FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,261,209 998,610 1,392,846 1,003,318
Non-PEO NEO | Awards that are granted and vested in the same FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 28,444 0 0 0
Non-PEO NEO | Prior Year Awards outstanding and unvested as of end of FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 480,865 778,288 (356,654) 574,938
Non-PEO NEO | Prior Year Awards that vested in FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 32,584 (239,457) 71,623 180,745
Non-PEO NEO | Prior Year Awards that fail to meet vesting conditions during FY [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (63,700) 0 0 (2,221,330)
Non-PEO NEO | Dividends or other earnings paid on all awards in CFY prior to vesting date [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 0