Her er en artikel, som i princip siger detsamme, men med andre ord.

"I generally like the distribution business, particularly when it is a many-to-many market structure. The two "many's" are suppliers and customers. When there are many suppliers and many customers, neither one has significant negotiation power, and there is a natural role for a distributor that can aggregate the supply of suppliers and aggregate the demand of customers all in one place."

"I believe Ferguson deserves to be among that list of distributors in at least some of its focus areas shown below. They have significant market power within many of the segments in which they compete, with >20% market share in several segments, and opportunity to grow in others."

Is Ferguson plc (FERG) A Smart Long-Term Buy?

Argosy Investors, an investment management firm, published its second quarter 2021 investor letter – a copy of which can be downloaded here. A portfolio return of 16.5% was recorded by the fund for the second half of 2021, while the S&P 500 by comparison returned 15.3%. You can view the fund’s top 5 holdings to have […]

Yahoo Finance (finance.yahoo.com)

Ferguson (ejede tidligere danske Stark) vurderes i øvrigt til PE=30, ifølge mig og Bloomberg, mod PE=12, ifølge mig, for A&O og Solar.

https://www.fergusonplc.com/en/index.html