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Stock research / United States / CNM · Wholesale-Durable Goods, Nec · NYSE

Core & Main, Inc. (CNM)

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Core & Main, Inc. (CNM) reported revenue of $2.1 billion for Q2 FY2026, the quarter ended 2 August 2026, up 2.5% on the same quarter a year earlier. Net income was $144 million, up 7.5% on the year, and diluted earnings per share $0.77. The figures are the company's own, from the 10-Q it filed with the SEC on 9 September 2026.

Revenue$2.1 billionup 2.5%
Net income$144 millionup 7.5%
Diluted EPS$0.77
QuarterQ2 FY2026ended 2 August 2026

Core & Main (CNM) in brief

Core & Main (CNM) reported revenue of $7.6 billion for fiscal 2025, the year ended 1 February 2026, up 2.8% on the year before.
Read moreNet income was $441 million and diluted earnings per share $2.31. Revenue was $7.4 billion in fiscal 2024, $6.7 billion in fiscal 2023, $6.7 billion in fiscal 2022 and $5.0 billion in fiscal 2021. Net income in the same years was $411 million, $371 million, $366 million and $166 million. Over the twelve months to 2 August 2026, Core & Main reported revenue of $7.7 billion and net income of $459 million. Revenue grew 16.0% a year, compounded, over the five years to fiscal 2025. At 2 August 2026 it carried $2.4 billion of debt and $312 million of cash. At the close of 8 October 2026 the market cap of Core & Main was $7.8 billion, 16.6 times its earnings over the last twelve months.

Ratios

From the filings

ROE22.6%
ROCE16.6%
Operating margin9.6%
Net margin6.0%
FCF margin8.2%
Interest cover6.29
Debt to equity1.20
Cash conversion1.49
Share count, 1 yearn/a
Sales CAGR, 3 years4.8%
Profit CAGR, 3 years6.4%
EPS, TTM$2.43

At the close of 8 October 2026

Price$40.37
Market cap$7.8 billion
Stock P/E16.61
Price to book3.84
EV / EBITDA10.70
Dividend yieldn/a
Market cap / sales1.01
52-week high$59.09
52-week low$40.37
Price, 1 year-22.0%
Price CAGR, 3 years9.8%
Price CAGR, 5 years10.0%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Core & Main, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
CNMgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CNM

Filings17 in twelve months: 10 current reports (8-K), about 4 results of operations; 4 other events; 1 material agreement; 1 shareholder vote; 1 officer or director change
Planned insider sales9 Form 144 notices in twelve months, $54.3 million; latest 30 June 2026
Options tapeput/call 0.36 by open interest at the 8 October 2026 close; the straddle prices a 3.7% move to 16 October 2026
13F holders10 of the followed funds hold it; largest FMR LLC; 8 Schedule 13D or 13G filings in twelve months
Insider trading2 sales and 2 purchases on Form 4 in twelve months
Congress2 House trades disclosed in six months
Short interest10.2 million shares short, 3.09 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue1,8271,4401,7411,9642,0381,6981,9112,0932,0621,5811,9102,145
Cost of revenue1,3331,0561,2731,4461,4951,2471,4011,5331,5011,1531,3901,572
Gross profit494384468518543451510560561428520573
Gross margin27%27%27%26%27%27%27%27%27%27%27%27%
SG&A240230257268274279293302295264299301
Operating income217116168204223124171213220118177227
Operating margin12%8%10%10%11%7%9%10%11%7%9%11%
Interest expense20.022.034.036.036.036.030.031.030.029.027.032.0
Pre-tax income19794.013416818788.014118219094.0150193
Tax rate20%19%25%25%25%24%26%23%25%22%25%22%
Net income11263.095.011913364.010013413770.0108144
Net margin6%4%5%6%7%4%5%6%7%4%6%7%
Diluted EPS$0.65$0.34$0.49$0.61$0.69$0.33$0.52$0.70$0.72$0.37$0.57$0.77
Operating cash flow37329478.048.026023577.034.027126882.062.0
Capital expenditure19.05.07.09.08.011.013.010.08.015.014.018.0
Free cash flow35428971.039.025222464.024.026325368.044.0
Buybacks1457260.021.010055.039.08.050.058.088.0169
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 7 fiscal years and the trailing twelve months

FY2019FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Revenue3,3893,6425,0046,6516,7027,4417,6477,698
Cost of revenue2,6002,7643,7244,8564,8845,4615,5885,616
Gross profit7898781,2801,7951,8181,9802,0592,082
Gross margin23.3%24.1%25.6%27.0%27.1%26.6%26.9%27.0%
Selling, general and administrative5095567178809311,0781,1541,159
Operating income155185425775740719722742
Operating margin4.6%5.1%8.5%11.7%11.0%9.7%9.4%9.6%
Interest expense11313998.066.081.0142120118
Pre-tax income42.046.0276709659577607627
Income tax6.09.051.0128128143145148
Effective tax rate14.3%19.6%18.5%18.1%19.4%24.8%23.9%23.6%
Net income36.037.0166366371411441459
Net margin1.1%1.0%3.3%5.5%5.5%5.5%5.8%6.0%
Diluted EPSn/an/a$0.55$2.13$2.15$2.13$2.31$2.43
Filing10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2024FY2025FY2026Share
latest year
Pipes, valves & fittings products4,5045,0065,13767.2%
Storm drainage products9851,1471,19415.6%
Meter products5256927169.4%
Fire protection products6885966007.8%
Pipes, valves & fittings productsStorm drainage productsMeter productsFire protection products
6,702FY20247,441FY20257,647FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2019FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow194214-31.04011,069621650683
Capital expenditure14.012.020.025.039.035.046.055.0
Free cash flow180202-51.03761,030586604628
Free cash flow margin5.3%5.5%-1.0%5.7%15.4%7.9%7.9%8.2%
Cash from investing-234-229-203-152-270-788-145-173
Cash from financing184215-146-73.0-975174-293-223
Depreciation and amortisation138153150148154194192186
Share-based compensation4.04.025.011.010.014.017.014.0
Buybacksn/an/a0.00.01,344176155365
Diluted shares, weightedn/an/a244m246m228m201m198m193m
Filing10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2019FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equityn/an/a1,3251,7471,4511,6981,9972,031
Non-controlling interestn/an/a50666373.076.077.073.0
Debtn/a2,2521,4561,4441,8632,2372,1242,432
Operating lease liabilitiesn/a85.9103121138178214221
Other liabilitiesn/an/a1,0449341,5441,6811,6731,952
Total liabilities and equityn/a3,9244,4344,9095,0695,8706,0856,709
Owned
Fixed assetsn/a86.094.0105151168178192
Goodwill1,3621,4531,5151,5351,5611,8981,9201,921
Intangible assetsn/a919871795784935823759
Cash and equivalents1813811.01771.08.0220312
Receivablesn/a4957848518889869811,363
Inventoryn/a3848561,0477669089861,137
Other assetsn/a2063133999189679771,025
Total assetsn/a3,9244,4344,9095,0695,8706,0856,709
Filing10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a16.0%4.8%-0.5%
Profit growth, compoundedn/a64.2%6.4%6.5%
Return on equity, averagen/a21.1%24.0%22.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Wholesale

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Genuine Parts Co. GPC$17.7 billion512.680.7%3.7%5.5%0.883.2%
Wesco International Inc. WCC$17.3 billion24.6013.6%5.4%12.5%1.13n/a
Performance Food Group Co. PFGC$14.8 billion41.367.3%1.3%7.2%1.02n/a
Applied Industrial Technologies Inc. AIT$12.2 billion30.3022.3%11.1%8.8%0.140.6%
Arrow Electronics, Inc. ARW$11.5 billion14.4911.6%3.4%26.1%0.29n/a
Watsco Inc. WSO$10.8 billion24.1815.9%9.4%-3.0%0.044.1%
Dominos Pizza Inc. DPZ$10.2 billion17.78n/a19.6%6.2%n/a2.3%
Henry Schein Inc. HSIC$9.5 billion24.6712.8%5.0%6.5%0.73n/a
Avnet Inc. AVT$8.2 billion24.956.7%2.6%24.5%0.641.4%
Core & Main, Inc. CNM$7.8 billion16.6122.6%9.6%-0.5%1.20n/a
MSC Industrial Direct Co. Inc. MSM$7.2 billion31.1416.3%8.5%4.4%0.361.7%
Ashland Inc. ASH$3.2 billion62.012.7%7.4%-1.4%0.732.3%
All 22 in Wholesale
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Mckesson Corp. MCK$108.5 billion24.89n/a1.6%8.8%n/a0.3%
TE Connectivity plc TEL$62.0 billion21.0122.8%19.7%16.5%0.421.3%
Cencora, Inc. COR$61.3 billion23.8786.0%0.9%5.1%3.840.7%
W.W. Grainger, Inc. GWW$59.8 billion32.3545.3%14.6%7.8%0.580.7%
Cardinal Health Inc. CAH$55.6 billion33.01n/a1.0%14.2%n/a0.9%
Ferguson Enterprises Inc. FERG$41.9 billion24.0528.5%8.2%3.4%0.721.6%
Sysco Corp. SYY$37.5 billion21.3765.9%3.7%3.9%4.622.8%
TD Synnex Corp. SNX$21.3 billion16.3014.3%2.7%24.1%0.390.7%
US Foods Holding Corp. USFD$21.0 billion29.8817.0%3.1%3.8%1.19n/a
Reliance, Inc. RS$20.3 billion23.0812.1%7.8%15.4%0.221.2%
Genuine Parts Co. GPC$17.7 billion512.680.7%3.7%5.5%0.883.2%
Wesco International Inc. WCC$17.3 billion24.6013.6%5.4%12.5%1.13n/a
Performance Food Group Co. PFGC$14.8 billion41.367.3%1.3%7.2%1.02n/a
Applied Industrial Technologies Inc. AIT$12.2 billion30.3022.3%11.1%8.8%0.140.6%
Arrow Electronics, Inc. ARW$11.5 billion14.4911.6%3.4%26.1%0.29n/a
Watsco Inc. WSO$10.8 billion24.1815.9%9.4%-3.0%0.044.1%
Dominos Pizza Inc. DPZ$10.2 billion17.78n/a19.6%6.2%n/a2.3%
Henry Schein Inc. HSIC$9.5 billion24.6712.8%5.0%6.5%0.73n/a
Avnet Inc. AVT$8.2 billion24.956.7%2.6%24.5%0.641.4%
Core & Main, Inc. CNM$7.8 billion16.6122.6%9.6%-0.5%1.20n/a
MSC Industrial Direct Co. Inc. MSM$7.2 billion31.1416.3%8.5%4.4%0.361.7%
Ashland Inc. ASH$3.2 billion62.012.7%7.4%-1.4%0.732.3%
No other company here shares its SEC industry code (Wholesale-Durable Goods, Nec); these are the names nearest in size in its wider industry, Wholesale, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q2 August 20269 September 2026EDGAR
10-Q3 May 202610 June 2026EDGAR
10-K1 February 202624 March 2026EDGAR
10-Q2 November 20259 December 2025EDGAR
10-Q3 August 20259 September 2025EDGAR
10-Q4 May 202510 June 2025EDGAR
10-K2 February 202525 March 2025EDGAR
10-Q27 October 20243 December 2024EDGAR
10-Q28 July 20244 September 2024EDGAR
10-Q28 April 20244 June 2024EDGAR

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