Core & Main CNM
United StatesIndustrials · Industrial DistributionUSD
54.77 USD (+34.6%)
13 analysts
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Core & Main is a leading distributor in the United States of water infrastructure, sanitation, and fire protection products, supplying contractors and municipalities.
Key points
from its scores- ✓Attractive valuation7.1
- ✕Little or no dividend1.5
- ✕Poor share-price trend2.1
- !Moderate growth5.5
AI analysis
bottom line, main risk, context and newsThe attractive valuation and business quality offer support, but wait for momentum to improve before adding to the position.
Core & Main has adequate financial health (ND/EBITDA 2.61) and notable business quality (ROE 23.56%), with an attractive valuation (forward P/E 11.62). However, its growth is moderate (revenue +2.50%) and momentum is very negative (-17.52%), reflecting recent price weakness.
The main risk is the slowdown in revenue growth in a high-interest-rate environment, which could compress margins and demand for infrastructure projects.
Context and risks
Core & Main operates in the industrial distribution sector for water infrastructure, a business with exposure to public and private spending cycles. Its country of domicile, the United States, presents moderate governance risk, introducing some regulatory and legal uncertainty, although no specific litigation or investigations materially affecting the company have been identified.
Is Core & Main stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 30% below the Industrials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 16.7 | 25.4 | −34% |
| EV / EBITDA | 10.7 | 14.5 | −26% |
| Price / book | 3.7 | 4.1 | −9% |
| Price / sales | 1.0 | 2.1 | −53% |
Sector: median of the 388 Industrials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.1 out of 10 (median for Industrials: 5.0).
Average analyst target: 54.77 USD, +34.6% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 5.7 (sector 6.4), Growth 5.5 (sector 6.6).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Industrials medianValuation
- P/E
- 16.7
- Forward P/E
- 11.6
- EV / EBITDA
- 10.7
- Price / book
- 3.7
- Price / sales
- 1.0
- PEG
- 1.43
- Market cap
- 7.5B USD
- Enterprise value
- 10.0B USD
Profitability
- ROE
- 23.6%
- ROA
- 7.1%
- ROIC (approx.)
- 17.0%
- Gross margin
- 27.0%
- Operating margin
- 10.6%
- Net margin
- 6.0%
- Free cash flow
- 477.0M USD
- FCF yield
- 6.4%
- Cash conversion
- 51%
Solvency
- Total debt
- 2.7B USD
- Net debt
- 2.4B USD
- Cash
- 312.0M USD
- EBITDA
- 935.0M USD
- Net debt / EBITDA
- 2.61
- Debt / equity
- 130.66
- Current ratio
- 2.47
- Quick ratio
- 1.47
Growth
- Revenue growth
- +2.5%
- Earnings growth
- +9.2%
- EPS (TTM)
- 2.43 USD
- EPS (forward)
- 3.50 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 0.91
- Analyst consensus
- Buy (13)
- Target price
- 54.77 USD
- 52-week range
- 39.41 – 59.66
Recent news
All CNM news →Compare it with its sector
All 388 in Industrials →Frequently asked questions about Core & Main
Is Core & Main stock cheap or expensive?
On P/E and EV / EBITDA, it trades 30% below the Industrials median on average. Valuation score: 7.1 out of 10 (median for Industrials: 5.0). Average analyst target: 54.77 USD, +34.6% versus the price. This is not investment advice.
What score does Core & Main get on MeridIAn Screener?
It scores 5.5 out of 10, rank 1,392 of 2,130 (better than 32% of the companies analysed). Its strongest category is Valuation (7.1) and its weakest, Dividend (1.5). Analysis of 08/10/2026.
What is Core & Main's P/E ratio?
Its P/E is 16.7: the share price equals 16.7 times earnings per share over the last 12 months. The Industrials median is 25.4. Based on the earnings analysts expect, the forward P/E is 11.6.
How much is Core & Main worth on the stock market?
Its market capitalisation is 7.5B USD and its enterprise value, debt included, is 10.0B USD.
How much debt does Core & Main have?
Its net debt (debt minus cash) is 2.4B USD. That is 2.61 times its EBITDA; the Industrials median is 1.58.
Does Core & Main pay a dividend?
It pays no dividend, or almost none.
How has Core & Main stock performed over the last year?
It has fallen 17.4% over the last year, excluding dividends. Over the last 52 weeks it has traded between 39.41 and 59.66 USD. Past performance does not guarantee future results.
What do analysts think of Core & Main?
13 analysts cover it; their average recommendation is “Buy” and their average target is 54.77 USD (+34.6% versus the price). It is an estimate, not market data.