Core & Main, Inc.
$52.12
+2.4%Core & 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.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is mid-range (P/E 22.5).
Valuation inputs: P/E 22.5, earnings yield +4.5%, momentum +2.4%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is strong (ROE +22.1%, ROIC +10.4%).
Profitability stack: net margin +5.8%, ROE +22.1%, ROIC +10.4%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +65.9%, momentum +2.4%, net margin +5.8%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Core & Main, Inc. Market vs Earnings Trajectory
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Core & Main, Inc. Fair Value Envelope
Core & Main, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.
Operating Margin
Acceptable margins but limited operational leverage. Operating expense control is important.
Net Profit Margin
Moderate profitability with room for improvement. Monitor interest expenses and tax efficiency.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
Room for improvement: Moderate profitability with opportunities to enhance margins through better cost management or pricing strategy.
Core & Main, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Flat FCF growth. Stable but not expanding—monitor for signs of business maturity or temporary headwinds.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.
Core & Main, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Debt-to-Equity Ratio
Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Financial Health Insight
Mixed signals: Strong short-term liquidity provides comfort, but high overall leverage requires careful monitoring of debt servicing capabilities and refinancing risk.
Core & Main, Inc. Street Expectations Map
Wall Street analysts project that CNM stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 64.25, with estimates ranging from a low of 63.00 to a high of 65.00.
The consensus 1-year price target stands at 64.25, with estimates ranging from a low of 63.00 to a high of 65.00.
Analyst Consensus Analysis
Upside Potential
Strong upside potential. Consensus indicates attractive return opportunity with favorable risk-reward profile.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
Core & Main, Inc. Insider Positioning
During the last 12 months, insiders have purchased $100K and sold $23.52M worth of CNM shares, resulting in $23.42M of net selling activity.
3 Months
2.0K
99.97K
1.6K
85.55K
+14K
+$14K
3-6 Months
0
0.00
0
0.00
+0
+$0
6-9 Months
0
0.00
0
0.00
+0
+$0
9-12 Months
0
0.00
375.9K
23.43M
-23.4M
-$23.43M
Top Buyers
Hope James D
Director
$100K
Top Sellers
Witkowski Mark R
Director, Officer: Chief Executive Officer
$8.11M
Leclair Stephen O
Director, Officer: Executive Chair
$7.77M
Whittenburg Mark G
Officer: General Counsel And Secretary
$3.00M
Castellano James G
Director
$2.73M
Kimbrough Orvin T
Director
$1.48M
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $23.42M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Positive recent trend with net buying activity. Insiders have been accumulating shares in recent months.
Insider Participation
5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.
cnm Dividend History
Learning Layer
Related Guides
Build conviction on CNM by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.