Core & Main, Inc. (CNM) Stock

Core & Main, Inc. (CNM) is a Consumer Discretionary stock trading at $44.85 (as of 2026-08-21), with a market capitalization of $8.78B and a trailing P/E of 17.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Core & Main, Inc. is a distributor of water, wastewater, storm drainage, and fire protection products and related services, supplying items such as pipes, valves, hydrants, storm drainage systems, and fire protection components and accessories. It serves municipalities, private water companies, and professional contractors in the United States.

Understand Core & Main, Inc.: how it makes money

Core and Main distributes water, wastewater, storm drainage, and fire protection products plus related services to municipalities, private water companies, and professional contractors in the United States.

The company’s profit is driven by selling and servicing regulated infrastructure products, where a key demand indicator is municipal repair and replacement activity (captured as a percentage of net sales).

Business quality (Weak): Clear business model and a set of relevant operating indicators are provided, but there is no segment revenue breakdown beyond total net sales in the supplied facts.

Valuation: At 21× earnings, CNM trades 13% below the Wholesale average (24×). Note: one-time items can distort reported P/E.

Bull case

  • Demand indicator tied to municipal repair and replacement: A stated operating metric, Municipal Repair and Replacement Activity as a Percentage of Net Sales, is 39%, suggesting a meaningful portion of sales aligns with ongoing infrastructure replacement needs.
  • End market mix shows non-residential exposure: Non-Residential End Market Share of Net Sales is 39%, indicating a significant share of net sales comes from non-residential end markets.

Bear case

  • Concentration in specific end-market demand drivers: If municipal repair and replacement activity weakens, the portion of net sales linked to that activity could be pressured (the operating metric provided is a key linkage to demand).
  • Private label contribution appears limited in the provided snapshot: Private Label Mix as a Percentage of Revenue is 4%, which may limit flexibility if higher private label mix is needed to improve product mix.
Valuation — source: SEC EDGAR (first-party)
Price$44.85
Market Cap$8.78B
P/E Ratio17.9
EV / EBITDA11.1
Price / Book4.15
Price / Sales1.10
FCF Yield6.5%
DCF Value (model)$25.26
DCF Upside vs Price-43.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$7.65B
Net Margin5.8%
Revenue Growth (YoY)2.8%
EPS Growth (YoY)8.4%
FCF Growth (YoY)3.1%
Financial Health — source: SEC EDGAR
Altman Z-Score3.43 (safe)
Piotroski F-Score4/9 (moderate)
Valuation vs Sector & Industry
Stock P/E17.9
Sector P/E (Consumer Discretionary)20.7
Industry P/E (Wholesale)24.0
vs Sector-13.6%
vs Industry-25.4%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($948.78M)
Institutional Holders Tracked10
Congressional Trades (recent)8
Company
SectorConsumer Discretionary
IndustryWholesale
CEOMark R. Witkowski
Employees5,700
CountryUS
IPO Date2021-07-22

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CNM earnings history · CNM institutional & insider holders · CNM KPIs & operating metrics · CNM financials · CNM investor presentations & press releases · CNM SEC filings · CNM peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.