Core & Main Inc (CNM) Fair Value & Analysis
Industrials · US · Market cap $8.7B · ISIN US21874C1027
What is Core & Main Inc really worth?
Core & Main Inc
CNM · US
A solid business, trading 11% below our fair value of $49.47.
Strengths
Risks
Fair value as of: Aug 19, 2026
From 26 valuation models · updated 16 days ago
Share price −5.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A fairly wide model range ($27.96 to $61.84) leaves room in how you read the outcome.
- The price sits in the lower half of our model range, the side with the larger margin of safety.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range $18.90 – $66.98 · fair‑value band $27.96 – $61.84 · the $43.98 price screens below the $49.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Core & Main Inc (CNM) currently trades at $43.98, while our model-based Fair Value estimate is $49.47, implying the stock looks roughly 11.1% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of $51.13 per share, and 14 of the 26 models we run sit above the $43.98 price. Bear case: the Asset-Based group reads lowest at $7.15, and 12 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Core & Main Inc generated revenue of $7.6B at a net margin of 5.8%. Revenue declined 6.9% year over year. It earns a return on equity of 24.0%. Net debt stands at $2.2B. Fundamentals as of Aug 19, 2026
Our scenario range runs from $27.96 (bear case) to $61.84 (bull case); at $43.98, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −39% fair-value upside, at 12%, CNM screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 7 months have passed since. In that time the company retained roughly $1.40 per share, which is 2.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models ($51.13) versus Dividend Discount ($1.69). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 23
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Core & Main, Inc. engages in the distribution of water, wastewater, storm drainage, and fire protection products and related services in the United States.
Full company description
Core & Main, Inc. engages in the distribution of water, wastewater, storm drainage, and fire protection products and related services in the United States. The company's products portfolio include pipes, valves, hydrants, fittings, and other products and services used for service, repair and replacement of underground water infrastructure; storm drainage products, such as corrugated HDPE and metal piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, valves, fittings, sprinkler heads and other accessories, as well as fabrication and kitting services; smart meter products; and smart metering solutions which include meter accessories, meter installation, network infrastructure and software installation, training, and long-term services, as well as engineered treatment plant products. Its specialty products and services are used in the maintenance, repair, replacement, and construction of water, wastewater, storm drainage, and fire protection infrastructure. The company serves municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets. Core & Main, Inc. was founded in 1874 and is headquartered in Saint Louis, Missouri.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Core & Main Inc reported revenue of $7.6B in FY2026 versus $5.0B in FY2022, a compound +11.2%/yr. Reported net income was $441M in FY2026, compounding +27.7%/yr from FY2022.
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Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Core & Main (CNM) Falls More Steeply Than Broader Market: What Investors Need to Know
- Core & Main (CNM) Declines More Than Market: Some Information for Investors
- Core & Main to Announce Fiscal 2026 Second Quarter Results
- Core & Main (CNM) Registers a Bigger Fall Than the Market: Important Facts to Note
Peer Group
Industrial Distribution · 112 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Industrial Distribution median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 66/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Industrial Distribution stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| W.W. Grainger, Inc GWW | $1,306 | $613.88 | −53% |
| Fastenal Company FAST | $51.14 | $20.64 | −60% |
| Ferguson Enterprises Inc FERG | $245.18 | $148.98 | −39% |
| WESCO International, Inc WCC | $347.60 | $213.01 | −39% |
| Watsco, Inc WSO | $313.05 | $251.37 | −20% |
| Toromont Industries Ltd TIH | C$199.59 | C$127.90 | −36% |
| Applied Industrial Technologies, Inc AIT | $319.11 | $191.65 | −40% |
| Finning International Inc FTT | C$93.86 | C$76.38 | −19% |
| Addtech AB ADDTB | kr 344.00 | kr 156.35 | −55% |
| Indutrade AB INDT | kr 249.60 | kr 147.56 | −41% |
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