Core & Main, Inc. (CNM) 10-Year Financial Performance & Capital Metrics

CNM • • Industrial / General

IndustrialsIndustrial DistributionSpecialized Infrastructure DistributionWater & Utility Infrastructure Distributors

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 $7.44B +11.0%
EBITDA $913M +2.1%
Net Income $411M +10.8%
EPS (Diluted) 2.13 -0.9%
Gross Margin 26.61% -1.9%
EBITDA Margin 12.27% -8.0%
Operating Margin 9.66% -12.5%
Net Margin 5.52% -0.2%
ROE 24.92% +32.1%
ROIC 13.71% -7.8%
Debt/Equity 1.41 +4.0%
Interest Coverage 5.06 -44.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.3%
✓Strong 5Y profit CAGR of 62.7%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.0%
✓Share count reduced 11.7% through buybacks
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y17.03%

3Y14.14%

TTM8.09%

Profit (Net Income) CAGR

10Y-

5Y62.75%

3Y35.28%

TTM6.1%

EPS CAGR

10Y-

5Y70%

3Y57.04%

TTM8.57%

ROCE

10Y Avg12.92%

5Y Avg14.39%

3Y Avg17.62%

Latest15.46%

Peer Comparison

Water & Utility Infrastructure Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CNMCore & Main, Inc.	10.92B	57.86	27.16	11.03%	5.6%	21.17%	5.36%	1.41

Profit & Loss

	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	3.39B	3.64B	5B	6.65B	6.7B	7.44B
Revenue Growth %	-	0.07%	0.37%	0.33%	0.01%	0.11%
Cost of Goods Sold+	2.6B	2.76B	3.72B	4.86B	4.88B	5.46B
COGS % of Revenue	0.77%	0.76%	0.74%	0.73%	0.73%	0.73%
Gross Profit+	789M	878M	1.28B	1.79B	1.82B	1.98B
Gross Margin %	0.23%	0.24%	0.26%	0.27%	0.27%	0.27%
Gross Profit Growth %	-	0.11%	0.46%	0.4%	0.01%	0.09%
Operating Expenses+	634M	693M	855M	1.02B	1.08B	1.26B
OpEx % of Revenue	0.19%	0.19%	0.17%	0.15%	0.16%	0.17%
Selling, General & Admin	509M	556M	717M	880M	931M	1.08B
SG&A % of Revenue	0.15%	0.15%	0.14%	0.13%	0.14%	0.14%
Research & Development	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-
Other Operating Expenses	125M	137M	138M	140M	147M	183M
Operating Income+	155M	185M	425M	775M	740M	719M
Operating Margin %	0.05%	0.05%	0.08%	0.12%	0.11%	0.1%
Operating Income Growth %	-	0.19%	1.3%	0.82%	-0.05%	-0.03%
EBITDA+	293M	338M	575M	923M	894M	913M
EBITDA Margin %	0.09%	0.09%	0.11%	0.14%	0.13%	0.12%
EBITDA Growth %	-	0.15%	0.7%	0.61%	-0.03%	0.02%
D&A (Non-Cash Add-back)	138M	153M	150M	148M	154M	194M
EBIT	155M	185M	374M	775M	740M	719M
Net Interest Income+	-113M	-139M	-98M	-66M	-81M	-142M
Interest Income	0	0	0	0	0	0
Interest Expense	113M	139M	98M	66M	81M	142M
Other Income/Expense	-113M	-139M	-149M	-66M	-81M	-142M
Pretax Income+	42M	46M	276M	709M	659M	577M
Pretax Margin %	0.01%	0.01%	0.06%	0.11%	0.1%	0.08%
Income Tax+	6M	9M	51M	128M	128M	143M
Effective Tax Rate %	0.86%	0.8%	0.6%	0.52%	0.56%	0.71%
Net Income+	36M	37M	166M	366M	371M	411M
Net Margin %	0.01%	0.01%	0.03%	0.06%	0.06%	0.06%
Net Income Growth %	-	0.03%	3.49%	1.2%	0.01%	0.11%
Net Income (Continuing)	36M	37M	225M	581M	531M	434M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	0	506M	663M	73M	76M
EPS (Diluted)+	0.15	0.15	0.55	2.13	2.15	2.13
EPS Growth %	-	0%	2.67%	2.87%	0.01%	-0.01%
EPS (Basic)	0.15	0.15	0.84	3.10	2.83	2.14
Diluted Shares Outstanding	240.69M	240.69M	244.45M	246.22M	227.82M	201.17M
Basic Shares Outstanding	240.69M	240.69M	159.19M	169.48M	172.84M	191.62M
Dividend Payout Ratio	8.97%	0.56%	-	-	-	-

Balance Sheet

	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	1.04B	1.34B	1.77B	2.21B	1.77B	2.02B
Cash & Short-Term Investments	180.9M	380.9M	1M	177M	1M	8M
Cash Only	180.9M	380.9M	1M	177M	1M	8M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	504M	557M	884M	955M	973M	1.07B
Days Sales Outstanding	54.28	55.82	64.48	52.41	52.99	52.29
Inventory	336.1M	383.8M	856M	1.05B	766M	908M
Days Inventory Outstanding	47.18	50.68	83.9	78.7	57.25	60.69
Other Current Assets	0	400K	0	32M	33M	43M
Total Non-Current Assets+	2.16B	2.26B	2.67B	2.7B	3.3B	3.85B
Property, Plant & Equipment	210.9M	214.7M	246M	280M	343M	412M
Fixed Asset Turnover	16.07x	16.96x	20.34x	23.75x	19.54x	18.06x
Goodwill	1.03B	1.12B	1.51B	1.53B	1.56B	1.9B
Intangible Assets	916M	919.2M	871M	795M	784M	935M
Long-Term Investments	0	0	-35M	84M	67M	40M
Other Non-Current Assets	2.1M	0	35M	-5M	-1M	2M
Total Assets+	3.2B	3.59B	4.43B	4.91B	5.07B	5.87B
Asset Turnover	1.06x	1.01x	1.13x	1.35x	1.32x	1.27x
Asset Growth %	-	0.12%	0.23%	0.11%	0.03%	0.16%
Total Current Liabilities+	430.4M	522M	839M	726M	774M	866M
Accounts Payable	267.6M	326M	608M	479M	504M	562M
Days Payables Outstanding	37.57	43.05	59.59	36	37.67	37.56
Short-Term Debt	13M	13M	15M	15M	15M	24M
Deferred Revenue (Current)	1000K	0	0	1000K	0	0
Other Current Liabilities	-15M	22M	166M	46M	200M	213M
Current Ratio	2.41x	2.56x	2.11x	3.05x	2.29x	2.34x
Quick Ratio	1.63x	1.83x	1.09x	1.60x	1.30x	1.29x
Cash Conversion Cycle	63.9	63.46	88.79	95.1	72.57	75.42
Total Non-Current Liabilities+	2.13B	2.6B	1.76B	1.77B	2.77B	3.23B
Long-Term Debt	2.01B	2.25B	1.46B	1.44B	1.86B	2.24B
Capital Lease Obligations	83.6M	86M	103M	121M	138M	178M
Deferred Tax Liabilities	1.8M	232M	35M	9M	48M	87M
Other Non-Current Liabilities	31M	31M	170M	199M	722M	728M
Total Liabilities	2.56B	2.92B	2.6B	2.5B	3.54B	4.1B
Total Debt+	2.15B	2.39B	1.62B	1.63B	2.07B	2.51B
Net Debt	1.97B	2.01B	1.62B	1.46B	2.07B	2.5B
Debt / Equity	3.35x	3.55x	0.89x	0.68x	1.36x	1.41x
Debt / EBITDA	7.33x	7.08x	2.82x	1.77x	2.32x	2.74x
Net Debt / EBITDA	6.71x	5.95x	2.82x	1.58x	2.32x	2.74x
Interest Coverage	1.37x	1.33x	4.34x	11.74x	9.14x	5.06x
Total Equity+	641.5M	673.9M	1.83B	2.41B	1.52B	1.77B
Equity Growth %	-	0.05%	1.72%	0.32%	-0.37%	0.16%
Book Value per Share	2.67	2.80	7.49	9.79	6.69	8.82
Total Shareholders' Equity	641.5M	801M	1.32B	1.75B	1.45B	1.7B
Common Stock	641.5M	801M	3M	3M	2M	2M
Retained Earnings	0	0	92M	458M	189M	449M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	0	0	16M	45M	46M	27M
Minority Interest	0	0	506M	663M	73M	76M

Cash Flow

	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	194M	214M	-31M	401M	1.07B	621M
Operating CF Margin %	0.06%	0.06%	-0.01%	0.06%	0.16%	0.08%
Operating CF Growth %	-	0.1%	-1.14%	13.94%	1.67%	-0.42%
Net Income	36M	44.5M	225M	581M	371M	434M
Depreciation & Amortization	138M	152.7M	150M	148M	154M	194M
Stock-Based Compensation	4M	4M	25M	11M	10M	14M
Deferred Taxes	4M	-4M	0	-857M	0	13M
Other Non-Cash Items	1M	-2.2M	35M	857M	167M	8M
Working Capital Changes	11M	19M	-466M	-339M	367M	-42M
Change in Receivables	3.2M	-28M	-312M	-51M	21M	-2M
Change in Inventory	-2M	-27M	-440M	-149M	328M	-36M
Change in Payables	15M	40M	274M	-140M	11M	14M
Cash from Investing+	-234M	-228.9M	-203M	-152M	-270M	-788M
Capital Expenditures	-14M	-11.9M	-20M	-25M	-39M	-35M
CapEx % of Revenue	0%	0%	0%	0%	0.01%	0%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	200K	1M	1M	0	-12M
Cash from Financing+	184M	215M	-146M	-73M	-975M	174M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	-323.1M	-20.9M	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	-5.9M	-1.1M	40M	-57M	-46M	-41M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	180M	202M	-51M	376M	1.03B	586M
FCF Margin %	0.05%	0.06%	-0.01%	0.06%	0.15%	0.08%
FCF Growth %	-	0.12%	-1.25%	8.37%	1.74%	-0.43%
FCF per Share	0.75	0.84	-0.21	1.53	4.52	2.91
FCF Conversion (FCF/Net Income)	5.39x	5.78x	-0.19x	1.10x	2.88x	1.51x
Interest Paid	99M	123M	126M	74M	105M	197M
Taxes Paid	13M	8M	55M	147M	116M	143M

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.61%	5.63%	13.25%	17.26%	18.86%	24.92%
Return on Invested Capital (ROIC)	4.46%	5.24%	10.38%	15.88%	14.88%	13.71%
Gross Margin	23.28%	24.11%	25.58%	26.99%	27.13%	26.61%
Net Margin	1.06%	1.02%	3.32%	5.5%	5.54%	5.52%
Debt / Equity	3.35x	3.55x	0.89x	0.68x	1.36x	1.41x
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
Revenue Growth	-	7.47%	37.4%	32.91%	0.77%	11.03%

Revenue by Segment

	2021	2022	2023	2024
Pipes, Valves, And Fitting Products	3.36B	4.55B	4.5B	5.01B
Pipes, Valves, And Fitting Products Growth	-	35.32%	-0.97%	11.15%
Storm Drainage Products	687M	949M	985M	1.15B
Storm Drainage Products Growth	-	38.14%	3.79%	16.45%
Meter Products	391M	453M	525M	692M
Meter Products Growth	-	15.86%	15.89%	31.81%
Fire Protection Products	565M	701M	688M	596M
Fire Protection Products Growth	-	24.07%	-1.85%	-13.37%

Revenue by Geography

	2021	2022	2023	2024
Non-US	5M	-	-	-
Non-US Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Core & Main, Inc. (CNM) has a price-to-earnings (P/E) ratio of 27.2x. This suggests investors expect higher future growth.

Growth & Financials

Core & Main, Inc. (CNM) reported $7.76B in revenue for fiscal year 2024. This represents a 129% increase from $3.39B in 2019.

Core & Main, Inc. (CNM) grew revenue by 11.0% over the past year. This is steady growth.

Yes, Core & Main, Inc. (CNM) is profitable, generating $435.0M in net income for fiscal year 2024 (5.5% net margin).

Dividend & Returns

Core & Main, Inc. (CNM) has a return on equity (ROE) of 24.9%. This is excellent, indicating efficient use of shareholder capital.

Core & Main, Inc. (CNM) generated $575.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Core & Main, Inc. (CNM) 10-Year Financial Performance & Capital Metrics

CNM • • Industrial / General

IndustrialsIndustrial DistributionSpecialized Infrastructure DistributionWater & Utility Infrastructure Distributors

Revenue $7.44B +11.0%
EBITDA $913M +2.1%
Net Income $411M +10.8%
EPS (Diluted) 2.13 -0.9%
Gross Margin 26.61% -1.9%
EBITDA Margin 12.27% -8.0%
Operating Margin 9.66% -12.5%
Net Margin 5.52% -0.2%
ROE 24.92% +32.1%
ROIC 13.71% -7.8%
Debt/Equity 1.41 +4.0%
Interest Coverage 5.06 -44.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.3%
✓Strong 5Y profit CAGR of 62.7%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 17.0%
✓Share count reduced 11.7% through buybacks
✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y17.03%

3Y14.14%

TTM8.09%

Profit (Net Income) CAGR

10Y-

5Y62.75%

3Y35.28%

TTM6.1%

EPS CAGR

10Y-

5Y70%

3Y57.04%

TTM8.57%

ROCE

10Y Avg12.92%

5Y Avg14.39%

3Y Avg17.62%

Latest15.46%

Peer Comparison

Water & Utility Infrastructure Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CNMCore & Main, Inc.	10.92B	57.86	27.16	11.03%	5.6%	21.17%	5.36%	1.41

Profit & Loss

	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Sales/Revenue+	3.39B	3.64B	5B	6.65B	6.7B	7.44B
Revenue Growth %	-	0.07%	0.37%	0.33%	0.01%	0.11%
Cost of Goods Sold+	2.6B	2.76B	3.72B	4.86B	4.88B	5.46B
COGS % of Revenue	0.77%	0.76%	0.74%	0.73%	0.73%	0.73%
Gross Profit+	789M	878M	1.28B	1.79B	1.82B	1.98B
Gross Margin %	0.23%	0.24%	0.26%	0.27%	0.27%	0.27%
Gross Profit Growth %	-	0.11%	0.46%	0.4%	0.01%	0.09%
Operating Expenses+	634M	693M	855M	1.02B	1.08B	1.26B
OpEx % of Revenue	0.19%	0.19%	0.17%	0.15%	0.16%	0.17%
Selling, General & Admin	509M	556M	717M	880M	931M	1.08B
SG&A % of Revenue	0.15%	0.15%	0.14%	0.13%	0.14%	0.14%
Research & Development	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-
Other Operating Expenses	125M	137M	138M	140M	147M	183M
Operating Income+	155M	185M	425M	775M	740M	719M
Operating Margin %	0.05%	0.05%	0.08%	0.12%	0.11%	0.1%
Operating Income Growth %	-	0.19%	1.3%	0.82%	-0.05%	-0.03%
EBITDA+	293M	338M	575M	923M	894M	913M
EBITDA Margin %	0.09%	0.09%	0.11%	0.14%	0.13%	0.12%
EBITDA Growth %	-	0.15%	0.7%	0.61%	-0.03%	0.02%
D&A (Non-Cash Add-back)	138M	153M	150M	148M	154M	194M
EBIT	155M	185M	374M	775M	740M	719M
Net Interest Income+	-113M	-139M	-98M	-66M	-81M	-142M
Interest Income	0	0	0	0	0	0
Interest Expense	113M	139M	98M	66M	81M	142M
Other Income/Expense	-113M	-139M	-149M	-66M	-81M	-142M
Pretax Income+	42M	46M	276M	709M	659M	577M
Pretax Margin %	0.01%	0.01%	0.06%	0.11%	0.1%	0.08%
Income Tax+	6M	9M	51M	128M	128M	143M
Effective Tax Rate %	0.86%	0.8%	0.6%	0.52%	0.56%	0.71%
Net Income+	36M	37M	166M	366M	371M	411M
Net Margin %	0.01%	0.01%	0.03%	0.06%	0.06%	0.06%
Net Income Growth %	-	0.03%	3.49%	1.2%	0.01%	0.11%
Net Income (Continuing)	36M	37M	225M	581M	531M	434M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	0	506M	663M	73M	76M
EPS (Diluted)+	0.15	0.15	0.55	2.13	2.15	2.13
EPS Growth %	-	0%	2.67%	2.87%	0.01%	-0.01%
EPS (Basic)	0.15	0.15	0.84	3.10	2.83	2.14
Diluted Shares Outstanding	240.69M	240.69M	244.45M	246.22M	227.82M	201.17M
Basic Shares Outstanding	240.69M	240.69M	159.19M	169.48M	172.84M	191.62M
Dividend Payout Ratio	8.97%	0.56%	-	-	-	-

Balance Sheet

	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Total Current Assets+	1.04B	1.34B	1.77B	2.21B	1.77B	2.02B
Cash & Short-Term Investments	180.9M	380.9M	1M	177M	1M	8M
Cash Only	180.9M	380.9M	1M	177M	1M	8M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	504M	557M	884M	955M	973M	1.07B
Days Sales Outstanding	54.28	55.82	64.48	52.41	52.99	52.29
Inventory	336.1M	383.8M	856M	1.05B	766M	908M
Days Inventory Outstanding	47.18	50.68	83.9	78.7	57.25	60.69
Other Current Assets	0	400K	0	32M	33M	43M
Total Non-Current Assets+	2.16B	2.26B	2.67B	2.7B	3.3B	3.85B
Property, Plant & Equipment	210.9M	214.7M	246M	280M	343M	412M
Fixed Asset Turnover	16.07x	16.96x	20.34x	23.75x	19.54x	18.06x
Goodwill	1.03B	1.12B	1.51B	1.53B	1.56B	1.9B
Intangible Assets	916M	919.2M	871M	795M	784M	935M
Long-Term Investments	0	0	-35M	84M	67M	40M
Other Non-Current Assets	2.1M	0	35M	-5M	-1M	2M
Total Assets+	3.2B	3.59B	4.43B	4.91B	5.07B	5.87B
Asset Turnover	1.06x	1.01x	1.13x	1.35x	1.32x	1.27x
Asset Growth %	-	0.12%	0.23%	0.11%	0.03%	0.16%
Total Current Liabilities+	430.4M	522M	839M	726M	774M	866M
Accounts Payable	267.6M	326M	608M	479M	504M	562M
Days Payables Outstanding	37.57	43.05	59.59	36	37.67	37.56
Short-Term Debt	13M	13M	15M	15M	15M	24M
Deferred Revenue (Current)	1000K	0	0	1000K	0	0
Other Current Liabilities	-15M	22M	166M	46M	200M	213M
Current Ratio	2.41x	2.56x	2.11x	3.05x	2.29x	2.34x
Quick Ratio	1.63x	1.83x	1.09x	1.60x	1.30x	1.29x
Cash Conversion Cycle	63.9	63.46	88.79	95.1	72.57	75.42
Total Non-Current Liabilities+	2.13B	2.6B	1.76B	1.77B	2.77B	3.23B
Long-Term Debt	2.01B	2.25B	1.46B	1.44B	1.86B	2.24B
Capital Lease Obligations	83.6M	86M	103M	121M	138M	178M
Deferred Tax Liabilities	1.8M	232M	35M	9M	48M	87M
Other Non-Current Liabilities	31M	31M	170M	199M	722M	728M
Total Liabilities	2.56B	2.92B	2.6B	2.5B	3.54B	4.1B
Total Debt+	2.15B	2.39B	1.62B	1.63B	2.07B	2.51B
Net Debt	1.97B	2.01B	1.62B	1.46B	2.07B	2.5B
Debt / Equity	3.35x	3.55x	0.89x	0.68x	1.36x	1.41x
Debt / EBITDA	7.33x	7.08x	2.82x	1.77x	2.32x	2.74x
Net Debt / EBITDA	6.71x	5.95x	2.82x	1.58x	2.32x	2.74x
Interest Coverage	1.37x	1.33x	4.34x	11.74x	9.14x	5.06x
Total Equity+	641.5M	673.9M	1.83B	2.41B	1.52B	1.77B
Equity Growth %	-	0.05%	1.72%	0.32%	-0.37%	0.16%
Book Value per Share	2.67	2.80	7.49	9.79	6.69	8.82
Total Shareholders' Equity	641.5M	801M	1.32B	1.75B	1.45B	1.7B
Common Stock	641.5M	801M	3M	3M	2M	2M
Retained Earnings	0	0	92M	458M	189M	449M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	0	0	16M	45M	46M	27M
Minority Interest	0	0	506M	663M	73M	76M

Cash Flow

	Jan 2020	Jan 2021	Jan 2022	Jan 2023	Jan 2024	Jan 2025
Cash from Operations+	194M	214M	-31M	401M	1.07B	621M
Operating CF Margin %	0.06%	0.06%	-0.01%	0.06%	0.16%	0.08%
Operating CF Growth %	-	0.1%	-1.14%	13.94%	1.67%	-0.42%
Net Income	36M	44.5M	225M	581M	371M	434M
Depreciation & Amortization	138M	152.7M	150M	148M	154M	194M
Stock-Based Compensation	4M	4M	25M	11M	10M	14M
Deferred Taxes	4M	-4M	0	-857M	0	13M
Other Non-Cash Items	1M	-2.2M	35M	857M	167M	8M
Working Capital Changes	11M	19M	-466M	-339M	367M	-42M
Change in Receivables	3.2M	-28M	-312M	-51M	21M	-2M
Change in Inventory	-2M	-27M	-440M	-149M	328M	-36M
Change in Payables	15M	40M	274M	-140M	11M	14M
Cash from Investing+	-234M	-228.9M	-203M	-152M	-270M	-788M
Capital Expenditures	-14M	-11.9M	-20M	-25M	-39M	-35M
CapEx % of Revenue	0%	0%	0%	0%	0.01%	0%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	200K	1M	1M	0	-12M
Cash from Financing+	184M	215M	-146M	-73M	-975M	174M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	-323.1M	-20.9M	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	-5.9M	-1.1M	40M	-57M	-46M	-41M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	180M	202M	-51M	376M	1.03B	586M
FCF Margin %	0.05%	0.06%	-0.01%	0.06%	0.15%	0.08%
FCF Growth %	-	0.12%	-1.25%	8.37%	1.74%	-0.43%
FCF per Share	0.75	0.84	-0.21	1.53	4.52	2.91
FCF Conversion (FCF/Net Income)	5.39x	5.78x	-0.19x	1.10x	2.88x	1.51x
Interest Paid	99M	123M	126M	74M	105M	197M
Taxes Paid	13M	8M	55M	147M	116M	143M

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.61%	5.63%	13.25%	17.26%	18.86%	24.92%
Return on Invested Capital (ROIC)	4.46%	5.24%	10.38%	15.88%	14.88%	13.71%
Gross Margin	23.28%	24.11%	25.58%	26.99%	27.13%	26.61%
Net Margin	1.06%	1.02%	3.32%	5.5%	5.54%	5.52%
Debt / Equity	3.35x	3.55x	0.89x	0.68x	1.36x	1.41x
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
Revenue Growth	-	7.47%	37.4%	32.91%	0.77%	11.03%

Revenue by Segment

	2021	2022	2023	2024
Pipes, Valves, And Fitting Products	3.36B	4.55B	4.5B	5.01B
Pipes, Valves, And Fitting Products Growth	-	35.32%	-0.97%	11.15%
Storm Drainage Products	687M	949M	985M	1.15B
Storm Drainage Products Growth	-	38.14%	3.79%	16.45%
Meter Products	391M	453M	525M	692M
Meter Products Growth	-	15.86%	15.89%	31.81%
Fire Protection Products	565M	701M	688M	596M
Fire Protection Products Growth	-	24.07%	-1.85%	-13.37%

Revenue by Geography

	2021	2022	2023	2024
Non-US	5M	-	-	-
Non-US Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Core & Main, Inc. (CNM) has a price-to-earnings (P/E) ratio of 27.2x. This suggests investors expect higher future growth.

Growth & Financials

Core & Main, Inc. (CNM) reported $7.76B in revenue for fiscal year 2024. This represents a 129% increase from $3.39B in 2019.

Core & Main, Inc. (CNM) grew revenue by 11.0% over the past year. This is steady growth.

Yes, Core & Main, Inc. (CNM) is profitable, generating $435.0M in net income for fiscal year 2024 (5.5% net margin).

Dividend & Returns

Core & Main, Inc. (CNM) has a return on equity (ROE) of 24.9%. This is excellent, indicating efficient use of shareholder capital.

Core & Main, Inc. (CNM) generated $575.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.