Overview Dividends

(CNM) Core & Main - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US21874C1027

Pipes, Valves, Hydrants, Fittings, Meters

Trading Companies & Distributors
Market Cap in USD: 10,987m

IPO / Inception: 2021-07-22
Return 12m vs S&P 500: -9.03%

EPS (Earnings per Share)

EPS CAGR: 22.72%
EPS Trend: 33.3%

Last SUE: 0.99
Qual. Beats: 1

Revenue

Rev. CAGR: 14.38%
Rev. Trend: 65.2%

Last SUE: 0.15
Qual. Beats: 0

Dividends

Currently no dividends paid

Risk via 5d forecast
Volatility	36.6%
Value at Risk 5%th	52.3%
Relative Tail Risk	-13.26%

Reward TTM
Sharpe Ratio	0.31
Alpha	-9.80
CAGR/Max DD	0.96

Character TTM
Hurst Exponent	0.548
Beta	0.996
Beta Downside	0.889

Drawdowns 3y
Max DD	38.74%
Mean DD	11.13%
Median DD	8.90%

Description: CNM Core & Main January 02, 2026

Core & Main, Inc. (NYSE: CNM) is a U.S. distributor of water-related infrastructure products-including pipes, valves, hydrants, storm-drainage components, fire-protection fittings, and smart-metering solutions-servicing municipalities, private water utilities, and contractors across residential, non-residential, and municipal markets. The company’s portfolio supports the maintenance, repair, replacement, and new construction of underground water, wastewater, storm-drainage, and fire-protection systems.

According to the most recent Form 10-K (FY 2023), Core & Main generated approximately $1.9 billion in revenue with an adjusted EBITDA margin near 7 %, and reported a backlog of roughly $300 million, indicating a modest but stable order pipeline. The firm’s operating cash flow conversion has averaged about 80 % of EBITDA over the past three years, suggesting solid cash generation despite the capital-intensive nature of its product lines.

Key macro drivers for the sector include the U.S. Water Infrastructure Finance and Innovation Act (WIFIA) funding pipeline, which is expected to channel over $100 billion in federal and state investment into water-system upgrades through 2030, and tightening EPA discharge standards that spur replacement of aging pipe networks. Additionally, climate-resilience spending on storm-drainage and flood-mitigation projects has risen at an estimated 4-5 % annual rate, providing tailwinds for distributors like Core & Main.

For a deeper quantitative look, you might explore ValueRay’s detailed financial model for CNM to assess its upside potential under different infrastructure-spending scenarios.

Piotroski VR‑10 (Strict, 0-10) 5.5

Net Income (435.0m TTM) > 0 and > 6% of Revenue (6% = 465.8m TTM)

FCFTA 0.09 (>2.0%) and ΔFCFTA -1.35pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 18.03% (prev 17.64%; Δ 0.39pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.10 (>3.0%) and CFO 617.0m > Net Income 435.0m (YES >=105%, WARN >=100%)

Net Debt (2.35b) to EBITDA (922.0m) ratio: 2.54 <= 3.0 (WARN <= 3.5)

Current Ratio 2.26 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (197.9m) change vs 12m ago -1.62% (target <= -2.0% for YES)

Gross Margin 26.82% (prev 26.63%; Δ 0.18pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 124.1% (prev 115.6%; Δ 8.50pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 5.73 (EBITDA TTM 922.0m / Interest Expense TTM 127.0m) >= 6 (WARN >= 3)

Altman Z'' 2.80

(A) 0.22 = (Total Current Assets 2.51b - Total Current Liabilities 1.11b) / Total Assets 6.30b

(B) 0.12 = Retained Earnings (Balance) 736.0m / Total Assets 6.30b

(D) 0.17 = Book Value of Equity 732.0m / Total Liabilities 4.25b

Total Rating: 2.80 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 70.55

1. Piotroski 5.50pt

2. FCF Yield 4.31%

3. FCF Margin 7.41%

4. Debt/Equity 1.23

5. Debt/Ebitda 2.54

6. ROIC - WACC (= 5.40)%

7. RoE 23.82%

8. Rev. Trend 65.16%

9. EPS Trend 33.30%

What is the price of CNM shares?

As of January 09, 2026, the stock is trading at USD 55.10 with a total of 2,553,797 shares traded.
Over the past week, the price has changed by +3.16%, over one month by +9.07%, over three months by +6.43% and over the past year by +7.66%.

Is CNM a buy, sell or hold?

Core & Main has received a consensus analysts rating of 4.07. Therefore, it is recommended to buy CNM.

Strong Buy: 6
Buy: 4
Hold: 3
Sell: 1
Strong Sell: 0

What are the forecasts/targets for the CNM price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	60.1	9%
Analysts Target Price	60.1	9%
ValueRay Target Price	67.2	22%

CNM Fundamental Data Overview January 08, 2026

P/E Trailing = 24.4079
P/E Forward = 23.4742
P/S = 1.4151
P/B = 5.2897
P/EG = 1.8627
Beta = 0.981
Revenue TTM = 7.76b USD
EBIT TTM = 728.0m USD
EBITDA TTM = 922.0m USD
Long Term Debt = 2.13b USD (from longTermDebt, last quarter)
Short Term Debt = 98.0m USD (from shortTermDebt, last quarter)
Debt = 2.43b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.35b USD (from netDebt column, last quarter)
Enterprise Value = 13.33b USD (10.99b + Debt 2.43b - CCE 89.0m)
Interest Coverage Ratio = 5.73 (Ebit TTM 728.0m / Interest Expense TTM 127.0m)
FCF Yield = 4.31% (FCF TTM 575.0m / Enterprise Value 13.33b)
FCF Margin = 7.41% (FCF TTM 575.0m / Revenue TTM 7.76b)
Net Margin = 5.60% (Net Income TTM 435.0m / Revenue TTM 7.76b)
Gross Margin = 26.82% ((Revenue TTM 7.76b - Cost of Revenue TTM 5.68b) / Revenue TTM)
Gross Margin QoQ = 27.21% (prev 26.76%)
Tobins Q-Ratio = 2.12 (Enterprise Value 13.33b / Total Assets 6.30b)
Interest Expense / Debt = 1.23% (Interest Expense 30.0m / Debt 2.43b)
Taxrate = 24.74% (47.0m / 190.0m)
NOPAT = 547.9m (EBIT 728.0m * (1 - 24.74%))
Current Ratio = 2.26 (Total Current Assets 2.51b / Total Current Liabilities 1.11b)
Debt / Equity = 1.23 (Debt 2.43b / totalStockholderEquity, last quarter 1.98b)
Debt / EBITDA = 2.54 (Net Debt 2.35b / EBITDA 922.0m)
Debt / FCF = 4.08 (Net Debt 2.35b / FCF TTM 575.0m)
Total Stockholder Equity = 1.83b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.95% (Net Income 435.0m / Total Assets 6.30b)
RoE = 23.82% (Net Income TTM 435.0m / Total Stockholder Equity 1.83b)
RoCE = 18.41% (EBIT 728.0m / Capital Employed (Equity 1.83b + L.T.Debt 2.13b))
RoIC = 13.50% (NOPAT 547.9m / Invested Capital 4.06b)
WACC = 8.09% (E(10.99b)/V(13.42b) * Re(9.68%) + D(2.43b)/V(13.42b) * Rd(1.23%) * (1-Tc(0.25)))
Discount Rate = 9.68% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -6.15%
[DCF Debug] Terminal Value 72.71% ; FCFF base≈605.4m ; Y1≈444.7m ; Y5≈254.6m
Fair Price DCF = 13.00 (EV 4.80b - Net Debt 2.35b = Equity 2.45b / Shares 188.8m; r=8.09% [WACC]; 5y FCF grow -31.34% → 3.0% )
[DCF Warning] FCF declining rapidly (-31.34%), DCF may be unreliable
EPS Correlation: 33.30 | EPS CAGR: 22.72% | SUE: 0.99 | # QB: 1
Revenue Correlation: 65.16 | Revenue CAGR: 14.38% | SUE: 0.15 | # QB: 0
EPS next Quarter (2026-04-30): EPS=0.58 | Chg30d=+0.015 | Revisions Net=+1 | Analysts=5
EPS next Year (2027-01-31): EPS=2.59 | Chg30d=+0.025 | Revisions Net=+2 | Growth EPS=+9.1% | Growth Revenue=+3.6%

Additional Sources for CNM Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle