(CNM) Core & Main - NYSE
Sector: Industrials | Industry: Industrial Distribution | Exchange: NYSE (USA) | Market Cap: 9.815m USD | Total Return: -14.8% in 12m
Avg Turnover: 102M
EPS Trend: -47.8%
Qual. Beats: -1
Rev. Trend: 95.0%
Qual. Beats: 0
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Core & Main Inc. (CNM) is a leading specialized distributor of water, wastewater, storm drainage, and fire protection infrastructure products in the United States. Headquartered in Saint Louis, Missouri, the company supplies pipes, valves, hydrants, and smart metering solutions to municipalities, private water utilities, and professional contractors. Its business model relies on a highly fragmented supply chain where it acts as a critical intermediary between thousands of manufacturers and a diverse customer base.
The company operates within the industrial distribution sector, focusing on the repair, replacement, and new construction of underground infrastructure. A significant portion of demand in this sector is driven by aging municipal water systems and federal infrastructure mandates, providing a degree of insulation from broader economic volatility. Beyond physical hardware, the firm provides technical services such as fabrication, kitting, and software installation for smart meter networks.
For a more detailed analysis of the companys competitive positioning, consider exploring the data available on ValueRay. Core & Main serves three primary end markets: municipal, non-residential, and residential, utilizing a national branch network to manage logistics and inventory for large-scale infrastructure projects.
- Municipal infrastructure spending creates stable demand for aging water system replacement
- Residential and non-residential construction cycles dictate volume for new pipe installations
- Aggressive acquisition strategy drives market share expansion and inorganic revenue growth
- Fluctuations in steel and plastic resin prices impact product inventory margins
- Federal funding for clean water projects provides long-term tailwinds for smart metering
| Net Income: 449.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA 0.39 > 1.0 |
| NWC/Revenue: 18.98% < 20% (prev 15.74%; Δ 3.24% < -1%) |
| CFO/TA 0.10 > 3% & CFO 655.0m > Net Income 449.0m |
| Net Debt (2.59b) to EBITDA (909.0m): 2.85 < 3 |
| Current Ratio: 2.31 > 1.5 & < 3 |
| Outstanding Shares: last quarter (187.9m) vs 12m ago -5.45% < -2% |
| Gross Margin: 27.06% > 18% (prev 26.57%; Δ 0.49% > 0.5%) |
| Asset Turnover: 121.3% > 50% (prev 121.2%; Δ 0.11% > 0%) |
| Interest Coverage Ratio: 5.93 > 6 (EBIT TTM 723.0m / Interest Expense TTM 122.0m) |
| A: 0.23 (Total Current Assets 2.56b - Total Current Liabilities 1.11b) / Total Assets 6.32b |
| B: 0.12 (Retained Earnings 786.0m / Total Assets 6.32b) |
| C: 0.11 (EBIT TTM 723.0m / Avg Total Assets 6.30b) |
| D: 0.48 (Book Value of Equity 2.04b / Total Liabilities 4.21b) |
| Altman-Z'' = 3.19 = A |
| DSRI: 0.95 (Receivables 1.26b/1.32b, Revenue 7.65b/7.61b) |
| GMI: 0.98 (GM 26.57% / 27.06%) |
| AQI: 0.96 (AQ_t 0.52 / AQ_t-1 0.54) |
| SGI: 1.00 (Revenue 7.65b / 7.61b) |
| TATA: -0.03 (NI 449.0m - CFO 655.0m) / TA 6.32b) |
| Beneish M = -3.11 (Cap -4..+1) = AA |
As of June 14, 2026, the stock is trading at USD 48.33 with a total of 3,879,138 shares traded.
Over the past week, the price has changed by -7.00%,
over one month by +1.75%,
over three months by +1.47% and
over the past year by -14.79%.
Core & Main has received a consensus analysts rating of 4.07. Therefore, it is recommended to buy CNM.
- StrongBuy: 6
- Buy: 4
- Hold: 3
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 60.6 | 25.4% |
P/E Trailing = 20.8093
P/E Forward = 18.5529
P/S = 1.2837
P/B = 4.69
P/EG = 1.4901
Revenue TTM = 7.65b USD
EBIT TTM = 723.0m USD
EBITDA TTM = 909.0m USD
Long Term Debt = 2.12b USD (from longTermDebt, last quarter)
Short Term Debt = 101.0m USD (from shortTermDebt, last quarter)
Debt = 2.74b USD (from shortLongTermDebtTotal, last quarter) + Leases 300.0m
Net Debt = 2.59b USD (calculated: Debt 2.74b - CCE 150.0m)
Enterprise Value = 12.4b USD (9.82b + Debt 2.74b - CCE 150.0m)
Interest Coverage Ratio = 5.93 (Ebit TTM 723.0m / Interest Expense TTM 122.0m)
EV/FCF = 20.41x (Enterprise Value 12.4b / FCF TTM 608.0m)
FCF Yield = 4.90% (FCF TTM 608.0m / Enterprise Value 12.4b)
FCF Margin = 7.95% (FCF TTM 608.0m / Revenue TTM 7.65b)
Net Margin = 5.87% (Net Income TTM 449.0m / Revenue TTM 7.65b)
Gross Margin = 27.06% ((Revenue TTM 7.65b - Cost of Revenue TTM 5.58b) / Revenue TTM)
Gross Margin QoQ = 27.23% (prev 27.07%)
Tobins Q-Ratio = 1.96 (Enterprise Value 12.4b / Total Assets 6.32b)
Interest Expense / Debt = 4.45% (Interest Expense 122.0m / Debt 2.74b)
Taxrate = 23.70% (146.0m / 616.0m)
NOPAT = 551.6m (EBIT 723.0m * (1 - 23.70%))
Current Ratio = 2.31 (Total Current Assets 2.56b / Total Current Liabilities 1.11b)
Debt / Equity = 1.35 (Debt 2.74b / totalStockholderEquity, last quarter 2.04b)
Debt / EBITDA = 2.85 (Net Debt 2.59b / EBITDA 909.0m)
Debt / FCF = 4.27 (Net Debt 2.59b / FCF TTM 608.0m)
Total Stockholder Equity = 1.98b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.13% (Net Income 449.0m / Total Assets 6.32b)
RoE = 22.73% (Net Income TTM 449.0m / Total Stockholder Equity 1.98b)
RoCE = 17.66% (EBIT 723.0m / Capital Employed (Equity 1.98b + L.T.Debt 2.12b))
RoIC = 10.67% (NOPAT 551.6m / Invested Capital 5.17b)
WACC = 8.84% (E(9.82b)/V(12.6b) * Re(10.36%) + D(2.74b)/V(12.6b) * Rd(4.45%) * (1-Tc(0.24)))
Discount Rate = 10.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -94.39 | Cagr: -5.48%
[DCF] Terminal Value 74.41% ; FCFF base≈596.4m ; Y1≈623.8m ; Y5≈716.8m
[DCF] Fair Price = 40.64 (EV 10.2b - Net Debt 2.59b = Equity 7.61b / Shares 187.2m; r=8.84% [WACC]; 5y FCF grow 5.01% → 2.50% )
EPS Correlation: -47.77 | EPS CAGR: -3.79% | SUE: -4.0 | # QB: -1
Revenue Correlation: 95.04 | Revenue CAGR: 6.91% | SUE: 0.33 | # QB: 0
EPS current Quarter (2026-07-31): EPS=0.78 | Chg30d=+0.00% | Revisions=-50% | Analysts=5
EPS current Year (2027-01-31): EPS=2.50 | Chg30d=+0.00% | Revisions=-33% | GrowthEPS=+7.7% | GrowthRev=+2.5%
EPS next Year (2028-01-31): EPS=2.98 | Chg30d=+0.00% | Revisions=-14% | GrowthEPS=+19.6% | GrowthRev=+4.5%
[Analyst] Revisions Ratio: -50%