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Earnings transcript
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CNM
Core & Main, Inc.
$41.99
0.2
(0.48%)
| Exchange: | NYSE |
| Market Cap: | 7.745B |
| Shares Outstanding: | 240.688M |
Delayed data
About The Company
| Sector: | IndustrialsView sector performance | |||||
| Industry: | Industrial – DistributionView industry performance | |||||
| CEO: | Mark R. Witkowski | |||||
| Full Time Employees: | 5600 | |||||
| Address: |
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| Website: | https://www.coreandmain.com |
Core & Main, Inc. (CNM) is a leading supplier of vital infrastructure products and services across the United States. The company specializes in providing comprehensive solutions for water, wastewater, storm drainage, and fire protection systems. Their diverse clientele includes local governments (municipalities), privately owned water utilities, and a wide array of professional contractors working on projects in the residential, non-residential (commercial), and public sectors. Core & Main’s extensive product range features essential components such as pipes, valves, hydrants, and fittings. For storm drainage needs, they offer systems including corrugated piping, retention basins, inline drains, manholes, grates, and geosynthetics. Their fire protection inventory covers crucial items like fire protection pipes, sprinkler heads, complete fire suppression systems, related accessories, and specialized fabrication services. Additionally, they provide advanced metering products, including smart meter technology, alongside installation services and software solutions. These specialized materials and services are integral to the construction, maintenance, repair, and replacement of critical water and fire protection infrastructure. Established in 1874, Core & Main is headquartered in St. Louis, Missouri.
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Revenue Segmentation
CNM full analysis
Hey everyone, welcome back to MarketSnap. If you're thinking about buying Core & Main at today's price, hold on a second — because we're running it through the full MarketSnap valuation model, the same checklist we'd use before putting real capital to work. This is a company that supplies the pipes, valves, and fire protection gear that keep water moving across America, and the stock has been beaten down hard. The question is whether the market has overshot to the…
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 6,702,000 | 7,441,000 | 7,647,000 |
| Gross Profit | 1,818,000 | 1,980,000 | 2,059,000 |
| EBITDA | 894,000 | 913,000 | 920,000 |
| Operating Income | 740,000 | 719,000 | 728,000 |
| Net Income | 371,000 | 411,000 | 441,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 5,069,000 | 5,870,000 | 6,085,000 |
| Total Liabilities | 3,545,000 | 4,096,000 | 4,011,000 |
| Total Stockholders Equity | 1,451,000 | 1,698,000 | 1,997,000 |
| Total Debt | 2,071,000 | 2,506,000 | 2,437,000 |
| Cash and Cash Equivalents | 1,000 | 8,000 | 220,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,069,000 | 621,000 | 650,000 |
| Capital Expenditure | -39,000 | -35,000 | -46,000 |
| Free Cash Flow | 1,030,000 | 586,000 | 604,000 |
| Net Income | 371,000 | 434,000 | 441,000 |
| Net Change in Cash | -176,000 | 7,000 | 212,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2031 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 9,339,225.925 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 9,855,652.005 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 9,546,000 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 1,773,349.378 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 1,886,231.680 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 1,818,545.440 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 973,204.180 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 1,043,630.826 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 1,001,401.754 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 1,326,715.330 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 1,400,077.984 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 1,356,089.321 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 5.060 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 5.270 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 4.920 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 2 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 3 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Profitability and Cash Generation: The company demonstrates strong profitability metrics, including a Return on Equity (ROE) and Return on Invested Capital (ROIC) that indicate efficient capital allocation. This is supported by a positive Free Cash Flow Yield (FCFY), suggesting the business generates ample cash relative to its valuation.
- Liquidity Position: Both the Current Ratio and Quick Ratio are at healthy levels, implying the company has sufficient short-term assets to cover its immediate liabilities, providing a buffer against operational disruptions.
- Valuation Support: The Price-to-Earnings (P/E) ratio and Price-to-Sales (P/S) ratio provide a baseline for valuation, while the Forward P/E ratio offers insight into expected earnings growth. A stable dividend yield (lastDiv) further appeals to income-focused investors.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates CNM intrinsic value between $64.87 – $71.56 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about CNM valuation
Is Core & Main, Inc. (CNM) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Core & Main, Inc. (CNM) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is CNM a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether CNM trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is CNM’s P/E ratio?
You can see CNM’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for CNM?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is CNM a good long-term investment?
Whether CNM fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
CNM
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Daily snapshot
0.48
Trading Metrics:
| Open: | 42.08 | Previous Close: | 41.79 | |
| Day Low: | 41.69 | Day High: | 42.83 | |
| Year Low: | 39.42 | Year High: | 59.66 | |
| Price Avg 50: | 43.04 | Price Avg 200: | 48.62 | |
| Volume: | 2.018M | Average Volume: | 2.419M |
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