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MIRA INFORM REPORT
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Report No. : |
509272 |
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Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
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Name : |
FERGUSON ENTERPRISES, INC. |
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Registered Office : |
12500 Jefferson Avenue, Newport News, VA 23602 USA |
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Country : |
United States |
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Financials (as on) : |
2016 [Summarized] |
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Date of Incorporation : |
1953 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject distributes commercial and residential plumbing supplies, and
pipes, valves, and fittings (PVF) to customers in the United States, the
Caribbean, Puerto Rico, and Mexico. |
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No. of Employees : |
26,000 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a
per capita GDP of $59,500. US firms are at or near the forefront in
technological advances, especially in computers, pharmaceuticals, and medical,
aerospace, and military equipment; however, their advantage has narrowed since
the end of World War II. Based on a comparison of GDP measured at purchasing
power parity conversion rates, the US economy in 2014, having stood as the
largest in the world for more than a century, slipped into second place behind
China, which has more than tripled the US growth rate for each year of the past
four decades.
In the US, private individuals and business firms make most of the
decisions, and the federal and state governments buy needed goods and services
predominantly in the private marketplace. US business firms enjoy greater
flexibility than their counterparts in Western Europe and Japan in decisions to
expand capital plant, to lay off surplus workers, and to develop new products.
At the same time, businesses face higher barriers to enter their rivals' home
markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for
lower-income families, inadequate investment in deteriorating infrastructure,
rapidly rising medical and pension costs of an aging population, energy shortages,
and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual
development of a "two-tier" labor market in which those at the bottom
lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance
coverage, and other benefits. But the globalization of trade, and especially
the rise of low-wage producers such as China, has put additional downward
pressure on wages and upward pressure on the return to capital. Since 1975,
practically all the gains in household income have gone to the top 20% of
households. Since 1996, dividends and capital gains have grown faster than
wages or any other category of after-tax income.
Imported oil accounts for more than 50% of US consumption and oil has a
major impact on the overall health of the economy. Crude oil prices doubled
between 2001 and 2006, the year home prices peaked; higher gasoline prices ate
into consumers' budgets and many individuals fell behind in their mortgage
payments. Oil prices climbed another 50% between 2006 and 2008, and bank
foreclosures more than doubled in the same period. Besides dampening the
housing market, soaring oil prices caused a drop in the value of the dollar and
a deterioration in the US merchandise trade deficit, which peaked at $840
billion in 2008. Because the US economy is energy-intensive, falling oil prices
since 2013 have alleviated many of the problems the earlier increases had
created.
The sub-prime mortgage crisis, falling home prices, investment bank
failures, tight credit, and the global economic downturn pushed the US into a
recession by mid-2008. GDP contracted until the third quarter of 2009, the
deepest and longest downturn since the Great Depression. To help stabilize
financial markets, the US Congress established a $700 billion Troubled Asset
Relief Program (TARP) in October 2008. The government used some of these funds
to purchase equity in US banks and industrial corporations, much of which had
been returned to the government by early 2011. In January 2009, Congress passed
and former President Barack OBAMA signed a bill providing an additional $787
billion fiscal stimulus to be used over 10 years - two-thirds on additional
spending and one-third on tax cuts - to create jobs and to help the economy
recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP.
In 2012, the Federal Government reduced the growth of spending and the deficit
shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a
percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources
from civilian to military purposes and contributed to the growth of the budget
deficit and public debt. Through FY 2018, the direct costs of the wars will
have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection
and Affordable Care Act (ACA), a health insurance reform that was designed to
extend coverage to an additional 32 million Americans by 2016, through private
health insurance for the general population and Medicaid for the impoverished.
Total spending on healthcare - public plus private - rose from 9.0% of GDP in
1980 to 17.9% in 2010.
In July 2010, the former president signed the DODD-FRANK Wall Street
Reform and Consumer Protection Act, a law designed to promote financial
stability by protecting consumers from financial abuses, ending taxpayer
bailouts of financial firms, dealing with troubled banks that are "too big
to fail," and improving accountability and transparency in the financial
system - in particular, by requiring certain financial derivatives to be traded
in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to
purchase $85 billion per month of mortgage-backed and Treasury securities in an
effort to hold down long-term interest rates, and to keep short-term rates near
zero until unemployment dropped below 6.5% or inflation rose above 2.5%. The
Fed ended its purchases during the summer of 2014, after the unemployment rate
dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of
GDP. In December 2015, the Fed raised its target for the benchmark federal
funds rate by 0.25%, the first increase since the recession began. With
continued low growth, the Fed opted to raise rates several times since then,
and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the
Tax Cuts and Jobs Act, which, among its various provisions, reduces the
corporate tax rate from 35% to 21%; lowers the individual tax rate for those
with the highest incomes from 39.6% to 37%, and by lesser percentages for those
at lower income levels; changes many deductions and credits used to calculate
taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do
not obtain the minimum amount of health insurance required under the ACA. The
new taxes took effect on 1 January 2018; the tax cut for corporations are
permanent, but those for individuals are scheduled to expire after 2025. The
Joint Committee on Taxation (JCT) under the Congressional Budget Office
estimates that the new law will reduce tax revenues and increase the federal
deficit by about $1.45 trillion over the 2018-2027 period. This amount would
decline if economic growth were to exceed the JCT’s estimate.
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Source
: CIA |
STATUTORY
INFORMATION
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Address in the
order: |
#474 MCGREGOR DISTRIBUTION CENTER PO BOX 9406, USA HAMPTON VA
23670-0406 This is FERGUSON SHARED ACCOUNTING CENTER 018 |
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Legal Name: |
FERGUSON ENTERPRISES, INC. |
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Trade Name: |
WOLSELEY INDUSTRIAL GROUP |
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ID: |
1454718-0143 |
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Date Created: |
1953 |
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Date
Incorporated: |
June 21, 1999 |
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Legal Address: |
12500 Jefferson Avenue, Newport News, VA 23602 USA |
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Operative
Address: |
12500 Jefferson Avenue, PO Box 2778, Newport News, VA 23602 |
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Telephone: |
757-874-7795 |
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Fax: |
757-989-2520 |
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Legal Form: |
Corporation |
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Email: |
NA |
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Registered in: |
VIRGINIA, USA |
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Website: |
www.ferguson.com |
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Contact: |
Kevin Murphy, CEO & Director |
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Staff: |
26,000 Employees |
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Activity: |
SIC 2 Description: Wholesale
Trade - Durable Goods NAICS Code: 423720, Plumbing and Heating Equipment and Supplies (Hydronics)
Merchant Wholesalers |
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BANKS: |
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The company does not make its banking data public |
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HISTORY: |
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The company was founded in 1953 and is based in Newport News, Virginia
with distribution centers serving in the United States and Canada. Ferguson
Enterprises, Inc. operates as a subsidiary of Wolseley plc. |
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Key
Developments: |
Ferguson Presents at B2B Online 2018,
May-08-2018 11:35 AM |
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PRINCIPAL
ACTIVITY
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Ferguson Enterprises, Inc. distributes commercial and residential
plumbing supplies, and pipes, valves, and fittings (PVF) to customers in the
United States, the Caribbean, Puerto Rico, and Mexico. |
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Products/Services
description: |
It offers faucets, toilets and urinals, sinks, and rough plumbing
products; hoods and vents, disposer parts, air switches, oven and stove
parts, and range parts; and hangers, struts, and fasteners, which include
fasteners, brackets and clamps, hangers, and straps. The company also
provides fans and ventilation products; controls, sensors, and zoning
products; HVAC installation supplies; and grilles, registers, and diffusers.
In addition, it offers lighting and fans, including indoor lighting, outdoor
lighting, ceiling fans, and indoor lighting parts and accessories; pipe
fittings, such as copper fittings and flanges, carbon steel fittings and
flanges, stainless steel fittings and flanges, and plastic fittings and
flanges; and plastic pipes and tubing, copper tubing, and stainless steel
pipes and tubing products. Further, the company provides waste water and
sewage pumps, circulator pumps, and water treatment products; and pump
controls, switches, and gauges. Furthermore, it offers power tools and
accessories, pipes/tubing tools, hand tools, and brushes; and ball valves and
accessories, check valves, gate valves, and valve accessories. The company
serves government, healthcare, and hospitality sectors; facilities; schools
and universities; builders and architects, commercial contractors, designers
and remodelers, HVAC contractors, plant and industrial managers, multifamily
property managers, plumbing contractors, water treatment plant contractors,
and waterworks contractors. It offers products through distribution centers
and showrooms, as well as catalog and online. |
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Brands: |
FERGUSON FNW Valve® Mirabelle® |
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Sales are: |
Wholesale |
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Clients: |
Ica Fluor Daniel Minera & Metalúrgica Del Boleo Sa De Cv |
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Suppliers: |
MOTORES ELECTRICOS SUMERGIBLES DE MEXICO S DE RL DE CV SAHA THAI STEEL PIPE (PUBLIC) CO. Norma India Ltd. TOSCOQUATTRO TRADE SRL E NCORPORATION |
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Operations area:
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National and International |
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The company
imports from |
Mexico, India, Thailand, Italy |
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The company
exports to |
Mexico |
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The subject
employs |
26,000 |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
12500 Jefferson Avenue, PO Box 2778, Newport News, VA 23602 |
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Comments: |
NA |
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Branches: |
Chantilly Newport News Richmond Virginia Beach Roanoke Gloucester Radford Tappahannock Winchester Hampton Charlottesville Alexandria Colonial Heights Williamsburg Forest Chesapeake Fredericksburg Roanoke Richmond Southside |
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Main Competitors |
NA |
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Related
Companies: |
Beijer Byggmaterial AB Operating company Sweden Capstone Global Solutions AG Operating company Switzerland DT Finland Oy Operating company Finland Ferguson Finance (Switzerland) AG Financing company Switzerland Ferguson Holdings (Switzerland) AG* Investment company Switzerland Ferguson Group Services Limited Service company England and Wales Neumann Bygg AS Operating company Norway Stark Group Holdings A/S Operating company Denmark Wasco Holding B.V. Operating company The Netherlands Wolseley Canada Inc. Operating company Canada Wolseley UK Limited Operating company England and Wales Wolseley Capital, Inc. Financing company USA Wolseley Insurance Limited Operating company Isle of Man Wolseley Investments North America, Inc. Investment company USA Wolseley Limited * Investment company England and Wales |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the
stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
Ferguson Enterprises, Inc. operates as a subsidiary of: FERGUSON PLC 2017 Ongoing revenue** £14,878m +22.5% Revenue £15,224m +21.3% Ongoing gross margin** 28.9% +0.4% Ongoing trading profit** £1,032m +24.8% Profit before tax £1,180m +74.8% Headline earnings per share*** 288.9p +23.1%. |
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Management: |
Kevin Murphy, CEO & Director Frank W Roach, President & Chief Executive Officer Bill Brundage, Chief Financial Officer |
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FINANCIAL
INFORMATION
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The company does
not make its financial statements public. The following information has been
provided by private sources: |
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USD 2016 |
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Assets |
1 470 000 000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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Patents |
NA |
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Trademarks: |
PROSELECT |
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Lawsuits: |
Ferguson Enterprises, Inc. v. Hollenkamp
et al, No. 3:2015cv00656 - Document 86 (W.D. Ky. 2015) Ferguson Enterprises, Inc. v.
International Concept Management, Inc. Corcel Corporation, Inc. v. Ferguson
Enterprises, Inc., et al., No. 15-15315 (11th Cir. 2017) Raymond Conner v. Ferguson Enterprises,
Inc. et al Ferguson Enterprises Inc v. Engineering
Design Technologies Inc et al National Surety Corporation v. Ferguson Enterprises
Inc, No. 3:2013cv02045 - Document 37 (N.D. Tex. 2014) Ferguson Enterprises, Inc. v. Astro Air
Conditioning and Heating R. D. SPELL, INC. VERSUS FERGUSON
ENTERPRISES, INC. D/B/A LOUISIANA UTILITIES SUPPLY CO. Corcel Corporation, Inc. v. Ferguson
Enterprises, Inc., et al, No. 13-13284 (11th Cir. 2014) Ferguson Enterprises, Inc. v. Hollenkamp
et al, No. 3:2015cv00656 - Document 89 (W.D. Ky. 2016) Nicole V. King, et al. v. Ferguson
Enterprises, Inc., No. 13-14563 (11th Cir. 2014) Corcel Corporation v. Ferguson
Enterprises, Inc. et al, No. 9:2012cv80896 - Document 209 (S.D. Fla. 2014) Halco Engineering, Inc. v. Ferguson
Enterprises, Inc, 636 F.2d 1213 (4th Cir. 1980) New England Reinsurance Corpor v. Ferguson
Enterprises, Inc. FERGUSON ENTERPRISES v. Main Supply Ferguson Enterprises, Inc. v. Navistar,
Inc. et al Corcel Corporation v. Ferguson
Enterprises, Inc. et al, No. 9:2012cv80896 - Document 156 (S.D. Fla. 2013) |
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OFAC Sanctions List
Search: |
The company is not listed in the OFAC list. |
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SUMMARY
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Ferguson is a privately held company in Newport News, VA and is a
Headquarters business. Categorized under Wholesale Plumbing Fixtures and Supplies. Our records
show it was established in 1982 and incorporated in VA. Current estimates
show this company has an annual assets of USD 1,4B and employs a staff of
approximately 26000. It mainly imports from Mexico,
India, Thailand, Italy and exports to Mexico. It is ACTIVE in VIRGINIA, USA; with no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
Lisa |
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POSITION |
Receptionist |
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COMMENTS |
She confirmed that the address in the order corresponds to an
additional location of the company; she said that the company has more than
20 distribution centers in USA. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.32 |
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1 |
INR 91.25 |
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Euro |
1 |
INR 80.50 |
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US Dollar |
1 |
INR 67.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.