Core & Main, Inc.(CNM)Earnings, Financials & Key Ratios

CNM•NYSE

$50.67

$335M mkt cap·17.1× P/E·Price updated May 6, 2026

SectorIndustrials IndustryIndustrial Distribution Sub-IndustryElectrical and Utility Products Distribution

AboutCore & Main, Inc. distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services. The company's specialty products and services are used in the maintenance, repair, replacement, and construction of water and fire protection infrastructure. Core & Main, Inc. was founded in 1874 and is headquartered in St. Louis, Missouri.Show more

Revenue$7.65B+2.8%
EBITDA$905M-0.9%
Net Income$441M+7.3%
EPS (Diluted)2.97+39.4%
Gross Margin26.93%+1.2%
EBITDA Margin11.83%-3.5%
Operating Margin9.44%-2.3%
Net Margin5.77%+4.4%
ROE22.92%-8.0%
ROIC12.65%-7.8%
Debt/Equity1.18-16.8%

Technical→

CNM Key Insights

Core & Main, Inc. (CNM) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Excellent 3Y average ROE of 22.2%
✓Strong 5Y profit CAGR of 64.2%
✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 16.0%
✓Share count reduced 100.0% through buybacks

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CNM Price & Volume

Core & Main, Inc. (CNM) stock price & volume — 10-year historical chart

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CNM Growth Metrics

Core & Main, Inc. (CNM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years15.99%

3 Years4.76%

TTM2.77%

Profit CAGR

10 Years-

5 Years64.15%

3 Years6.41%

TTM7.3%

EPS CAGR

10 Years-

5 Years81.69%

3 Years11.72%

TTM-8.06%

Return on Capital

10 Years12.96%

5 Years15.83%

3 Years15.69%

Last Year14.14%

CNM Recent Earnings

Core & Main, Inc. (CNM) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 9/12 qtrs (75%)●Beat Revenue 6/12 qtrs (50%)

Q2 2026Latest

Mar 24, 2026

EPS

$0.52

Est $0.48

+8.3%

Revenue

$1.6B

Est $1.6B

-0.5%

Q4 2025

Dec 9, 2025

EPS

$0.72

Est $0.70

+2.9%

Revenue

$2.1B

Est $2.1B

+0.3%

Q4 2025

Sep 9, 2025

EPS

$0.87

Est $0.78

+12.1%

Revenue

$2.1B

Est $2.1B

-1.2%

Q3 2025

Jun 10, 2025

EPS

$0.52

Est $0.52

-0.6%

Revenue

$1.9B

Est $1.8B

+3.6%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Mar 24, 2026	$0.52vs $0.48+8.3%	$1.6Bvs $1.6B-0.5%
Q4 2025	Dec 9, 2025	$0.72vs $0.70+2.9%	$2.1Bvs $2.1B+0.3%
Q4 2025	Sep 9, 2025	$0.87vs $0.78+12.1%	$2.1Bvs $2.1B-1.2%
Q3 2025	Jun 10, 2025	$0.52vs $0.52-0.6%	$1.9Bvs $1.8B+3.6%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
SITESiteOne Landscape Supply, Inc.Direct Competitor	5.42B	122.22	36.27	3.62%	3.24%	9.09%	0.58
IBPInstalled Building Products, Inc.Direct Competitor	8.06B	299.13	30.81	1%	8.93%	39.12%	1.48
BLDRBuilders FirstSource, Inc.Direct Competitor	8.85B	80.03	20.57	-7.38%	1.97%	6.92%	1.30
MSMMSC Industrial Direct Co., Inc.Product Competitor	5.86B	105.01	29.41	-1.35%	5.37%	14.79%	0.39
FASTFastenal CompanyProduct Competitor	51.33B	44.71	41.02	8.67%	15.35%	31.91%	0.11
WSOWatsco, Inc.Product Competitor	17.57B	432.06	35.27	-4.98%	6.85%	15.31%	0.15
AITApplied Industrial Technologies, Inc.Product Competitor	11.66B	315.39	31.17	1.88%	8.34%	21.64%	0.31
WCCWESCO International, Inc.Product Competitor	17.69B	362.88	27.81	7.76%	2.79%	13.71%	1.49

Compare CNM vs Peers

Core & Main, Inc. (CNM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SITE

Most directly comparable listed peer for CNM.

Scale Benchmark

vs HD

Larger-name benchmark to compare CNM against a more recognizable public peer.

Peer Set

Compare Top 5

vs SITE, IBP, BLDR, MSM

CNM Income Statement

Core & Main, Inc. (CNM) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Jan'20	Jan'21	Jan'22	Jan'23	Jan'24	Jan'25	Feb'26
Sales/Revenue	3.39B	3.64B	5B	6.65B	6.7B	7.44B	7.65B
Revenue Growth %	-	7.47%	37.4%	32.91%	0.77%	11.03%	2.77%
Cost of Goods Sold	2.6B	2.76B	3.72B	4.86B	4.88B	5.46B	5.59B
COGS % of Revenue	76.72%	75.89%	74.42%	73.01%	72.87%	73.39%	73.07%
Gross Profit	789M▲ 0%	878M▲ 11.3%	1.28B▲ 45.8%	1.79B▲ 40.2%	1.82B▲ 1.3%	1.98B▲ 8.9%	2.06B▲ 4.0%
Gross Margin %	23.28%	24.11%	25.58%	26.99%	27.13%	26.61%	26.93%
Gross Profit Growth %	-	11.28%	45.79%	40.23%	1.28%	8.91%	3.99%
Operating Expenses	634M	693M	855M	1.02B	1.08B	1.26B	1.34B
OpEx % of Revenue	18.71%	19.03%	17.09%	15.34%	16.08%	16.95%	17.48%
Selling, General & Admin	509M	556M	717M	880M	931M	1.08B	1.15B
SG&A % of Revenue	15.02%	15.27%	14.33%	13.23%	13.89%	14.49%	15.09%
Research & Development	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-
Other Operating Expenses	125M	137M	138M	140M	147M	183M	183M
Operating Income	155M▲ 0%	185M▲ 19.4%	425M▲ 129.7%	775M▲ 82.4%	740M▼ 4.5%	719M▼ 2.8%	722M▲ 0.4%
Operating Margin %	4.57%	5.08%	8.49%	11.65%	11.04%	9.66%	9.44%
Operating Income Growth %	-	19.35%	129.73%	82.35%	-4.52%	-2.84%	0.42%
EBITDA	293M	338M	575M	923M	894M	913M	905M
EBITDA Margin %	8.65%	9.28%	11.49%	13.88%	13.34%	12.27%	11.83%
EBITDA Growth %	-	15.36%	70.12%	60.52%	-3.14%	2.13%	-0.88%
D&A (Non-Cash Add-back)	138M	153M	150M	148M	154M	194M	183M
EBIT	155M	185M	374M	775M	740M	719M	0
Net Interest Income	-113M	-139M	-98M	-66M	-81M	-142M	0
Interest Income	0	0	0	0	0	0	0
Interest Expense	113M	139M	98M	66M	81M	142M	-120M
Other Income/Expense	-113M	-139M	-149M	-66M	-81M	-142M	-115M
Pretax Income	42M▲ 0%	46M▲ 9.5%	276M▲ 500.0%	709M▲ 156.9%	659M▼ 7.1%	577M▼ 12.4%	607M▲ 5.2%
Pretax Margin %	1.24%	1.26%	5.52%	10.66%	9.83%	7.75%	7.94%
Income Tax	6M	9M	51M	128M	128M	143M	145M
Effective Tax Rate %	14.29%	19.57%	18.48%	18.05%	19.42%	24.78%	23.89%
Net Income	36M▲ 0%	37M▲ 2.8%	166M▲ 348.6%	366M▲ 120.5%	371M▲ 1.4%	411M▲ 10.8%	441M▲ 7.3%
Net Margin %	1.06%	1.02%	3.32%	5.5%	5.54%	5.52%	5.77%
Net Income Growth %	-	2.78%	348.65%	120.48%	1.37%	10.78%	7.3%
Net Income (Continuing)	36M	37M	225M	581M	531M	434M	441M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	506M	663M	73M	76M	77M
EPS (Diluted)	0.15▲ 0%	0.15▲ 0.0%	0.55▲ 266.7%	2.13▲ 287.3%	2.15▲ 0.9%	2.13▼ 0.9%	2.97▲ 39.4%
EPS Growth %	-	0%	266.67%	287.27%	0.94%	-0.93%	39.44%
EPS (Basic)	0.15	0.15	0.84	3.10	2.83	2.14	2.32
Diluted Shares Outstanding	240.69M	240.69M	244.45M	246.22M	227.82M	201.17M	0
Basic Shares Outstanding	240.69M	240.69M	159.19M	169.48M	172.84M	191.62M	0
Dividend Payout Ratio	897.5%	56.49%	-	-	-	-	-

CNM Balance Sheet

Core & Main, Inc. (CNM) balance sheet — assets, liabilities & shareholders' equity

Line item	Jan'20	Jan'21	Jan'22	Jan'23	Jan'24	Jan'25	Feb'26
Total Current Assets	1.04B	1.34B	1.77B	2.21B	1.77B	2.02B	2.3B
Cash & Short-Term Investments	180.9M	380.9M	1M	177M	1M	8M	220M
Cash Only	180.9M	380.9M	1M	177M	1M	8M	220M
Short-Term Investments	0	0	0	0	0	0	0
Accounts Receivable	504M	557M	884M	955M	973M	1.07B	1.05B
Days Sales Outstanding	54.28	55.82	64.48	52.41	52.99	52.29	50.02
Inventory	336.1M	383.8M	856M	1.05B	766M	908M	986M
Days Inventory Outstanding	47.18	50.68	83.9	78.7	57.25	60.69	64.4
Other Current Assets	0	400K	0	32M	33M	43M	48M
Total Non-Current Assets	2.16B	2.59B	2.67B	2.7B	3.3B	3.85B	3.78B
Property, Plant & Equipment	210.9M	214.7M	246M	280M	343M	412M	465M
Fixed Asset Turnover	16.07x	16.96x	20.34x	23.75x	19.54x	18.06x	16.45x
Goodwill	1.03B	1.45B	1.51B	1.53B	1.56B	1.9B	1.92B
Intangible Assets	916M	919M	871M	795M	784M	935M	823M
Long-Term Investments	0	0	-35M	84M	67M	40M	0
Other Non-Current Assets	2.1M	0	35M	-5M	-1M	2M	10M
Total Assets	3.2B▲ 0%	3.92B▲ 22.6%	4.43B▲ 13.0%	4.91B▲ 10.7%	5.07B▲ 3.3%	5.87B▲ 15.8%	6.08B▲ 3.7%
Asset Turnover	1.06x	0.93x	1.13x	1.35x	1.32x	1.27x	1.26x
Asset Growth %	-	22.65%	13%	10.71%	3.26%	15.8%	3.66%
Total Current Liabilities	430.4M	522M	839M	726M	774M	866M	874M
Accounts Payable	267.6M	326M	608M	479M	504M	562M	512M
Days Payables Outstanding	37.57	43.05	59.59	36	37.67	37.56	33.44
Short-Term Debt	13M	13M	15M	15M	15M	24M	99M
Deferred Revenue (Current)	94M	0	0	9M	0	0	0
Other Current Liabilities	-15M	22M	166M	46M	200M	213M	775M
Current Ratio	2.41x	2.56x	2.11x	3.05x	2.29x	2.34x	2.63x
Quick Ratio	1.63x	1.83x	1.09x	1.60x	1.30x	1.29x	1.51x
Cash Conversion Cycle	63.9	63.46	88.79	95.1	72.57	75.42	80.98
Total Non-Current Liabilities	2.13B	2.6B	1.76B	1.77B	2.77B	3.23B	3.14B
Long-Term Debt	2.01B	2.25B	1.46B	1.44B	1.86B	2.24B	2.34B
Capital Lease Obligations	83.6M	86M	103M	121M	138M	178M	0
Deferred Tax Liabilities	1.8M	232M	35M	9M	48M	87M	89M
Other Non-Current Liabilities	31M	31M	170M	199M	722M	728M	710M
Total Liabilities	2.56B	3.12B	2.6B	2.5B	3.54B	4.1B	4.01B
Total Debt	2.15B	2.39B	1.62B	1.63B	2.07B	2.51B	2.44B
Net Debt	1.97B	2.01B	1.62B	1.46B	2.07B	2.5B	2.22B
Debt / Equity	3.35x	2.99x	0.89x	0.68x	1.36x	1.41x	1.18x
Debt / EBITDA	7.33x	7.08x	2.82x	1.77x	2.32x	2.74x	2.69x
Net Debt / EBITDA	6.71x	5.95x	2.82x	1.58x	2.32x	2.74x	2.45x
Interest Coverage	1.37x	1.33x	4.34x	11.74x	9.14x	5.06x	-
Total Equity	641.5M▲ 0%	801M▲ 24.9%	1.83B▲ 128.6%	2.41B▲ 31.6%	1.52B▼ 36.8%	1.77B▲ 16.4%	2.07B▲ 16.9%
Equity Growth %	-	24.86%	128.59%	31.62%	-36.76%	16.4%	16.91%
Book Value per Share	2.67	3.33	7.49	9.79	6.69	8.82	313.71
Total Shareholders' Equity	641.5M	801M	1.32B	1.75B	1.45B	1.7B	2B
Common Stock	641.5M	801M	3M	3M	2M	2M	2M
Retained Earnings	0	0	92M	458M	189M	449M	755M
Treasury Stock	0	0	0	0	0	0	0
Accumulated OCI	0	0	16M	45M	46M	27M	-6M
Minority Interest	0	0	506M	663M	73M	76M	77M

CNM Cash Flow Statement

Core & Main, Inc. (CNM) cash flow — operating, investing & free cash flow history

Line item	Jan'20	Jan'21	Jan'22	Jan'23	Jan'24	Jan'25	Feb'26
Cash from Operations	194M	214M	-31M	401M	1.07B	621M	650M
Operating CF Margin %	5.72%	5.88%	-0.62%	6.03%	15.95%	8.35%	8.5%
Operating CF Growth %	-	10.31%	-114.49%	1393.55%	166.58%	-41.91%	4.67%
Net Income	36M	44.5M	225M	581M	371M	434M	441M
Depreciation & Amortization	138M	152.7M	150M	148M	154M	194M	192M
Stock-Based Compensation	4M	4M	25M	11M	10M	14M	17M
Deferred Taxes	4M	-4M	0	-857M	0	13M	28M
Other Non-Cash Items	1M	-2.2M	35M	857M	167M	8M	-28M
Working Capital Changes	11M	19M	-466M	-339M	367M	-42M	0
Change in Receivables	3.2M	-28M	-312M	-51M	21M	-2M	0
Change in Inventory	-2M	-27M	-440M	-149M	328M	-36M	-70M
Change in Payables	15M	40M	274M	-140M	11M	14M	-59M
Cash from Investing	-234M	-228.9M	-203M	-152M	-270M	-788M	-145M
Capital Expenditures	-14M	-11.9M	-20M	-25M	-39M	-35M	-46M
CapEx % of Revenue	0.41%	0.33%	0.4%	0.38%	0.58%	0.47%	0.6%
Acquisitions	-220M	-217.2M	-179M	-128M	-231M	-741M	-61M
Investments	-	-	-	-	-	-	-
Other Investing	0	200K	1M	1M	0	-12M	-38M
Cash from Financing	184M	215M	-146M	-73M	-975M	174M	-293M
Debt Issued (Net)	513M	237M	-850M	-17M	415M	391M	0
Equity Issued (Net)	200K	0	664M	1M	-1.34B	-176M	0
Dividends Paid	-323.1M	-20.9M	0	0	0	0	0
Share Repurchases	-200K	0	0	0	-1.34B	-176M	0
Other Financing	-5.9M	-1.1M	40M	-57M	-46M	-41M	-293M
Net Change in Cash	144M▲ 0%	200M▲ 38.9%	-380M▼ 290.0%	176M▲ 146.3%	-176M▼ 200.0%	7M▲ 104.0%	212M▲ 2928.6%
Free Cash Flow	180M▲ 0%	202M▲ 12.2%	-51M▼ 125.2%	376M▲ 837.3%	1.03B▲ 173.9%	586M▼ 43.1%	604M▲ 3.1%
FCF Margin %	5.31%	5.55%	-1.02%	5.65%	15.37%	7.88%	7.9%
FCF Growth %	-	12.22%	-125.25%	837.25%	173.94%	-43.11%	3.07%
FCF per Share	0.75	0.84	-0.21	1.53	4.52	2.91	91.36
FCF Conversion (FCF/Net Income)	5.39x	5.78x	-0.19x	1.10x	2.88x	1.51x	1.47x
Interest Paid	99M	123M	126M	74M	105M	197M	0
Taxes Paid	13M	8M	55M	147M	116M	143M	0

CNM Key Ratios

Core & Main, Inc. (CNM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	5.61%	5.13%	12.61%	17.26%	18.86%	24.92%	22.92%
Return on Invested Capital (ROIC)	4.46%	5.12%	10.17%	15.88%	14.88%	13.71%	12.65%
Gross Margin	23.28%	24.11%	25.58%	26.99%	27.13%	26.61%	26.93%
Net Margin	1.06%	1.02%	3.32%	5.5%	5.54%	5.52%	5.77%
Debt / Equity	3.35x	2.99x	0.89x	0.68x	1.36x	1.41x	1.18x
Interest Coverage	1.37x	1.33x	4.34x	11.74x	9.14x	5.06x	-
FCF Conversion	5.39x	5.78x	-0.19x	1.10x	2.88x	1.51x	1.47x
Revenue Growth	-	7.47%	37.4%	32.91%	0.77%	11.03%	2.77%

CNM SEC Filings & Documents

Core & Main, Inc. (CNM) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 10, 2026·SEC

Material company update

Mar 27, 2026·SEC

Material company update

Mar 24, 2026·SEC

10-K Annual Reports

FY 2026

Mar 24, 2026·SEC

FY 2025

Mar 25, 2025·SEC

FY 2024

Mar 19, 2024·SEC

10-Q Quarterly Reports

FY 2025

Dec 9, 2025·SEC

FY 2025

Sep 9, 2025·SEC

FY 2025

Jun 10, 2025·SEC

CNM Frequently Asked Questions

Core & Main, Inc. (CNM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Core & Main, Inc. (CNM) reported $7.65B in revenue for fiscal year 2025. This represents a 126% increase from $3.39B in 2019.

Core & Main, Inc. (CNM) grew revenue by 2.8% over the past year. Growth has been modest.

Yes, Core & Main, Inc. (CNM) is profitable, generating $441.0M in net income for fiscal year 2025 (5.8% net margin).

Dividend & Returns

Core & Main, Inc. (CNM) has a return on equity (ROE) of 22.9%. This is excellent, indicating efficient use of shareholder capital.

Core & Main, Inc. (CNM) generated $604.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Core & Main, Inc. (CNM) financial analysis — history, returns, DCA and operating performance tools

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Core & Main, Inc.(CNM)Earnings, Financials & Key Ratios

CNM Key Insights

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✗Weaknesses

CNM Price & Volume

CNM Growth Metrics

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CNM Recent Earnings

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