olivLaw · US equity research
Core & Main, Inc. CNM
Wholesale-Durable Goods, NEC · SIC 5099 · Vertical: Wholesale — durable goods (SIC 509x)
Core & Main is a specialty distributor of water, wastewater, storm drainage and fire protection products, operating a network of over 370 branches in the United States and Canada and serving municipalities, private water companies and professional contractors. Net sales of 2,145 million USD in the quarter ended August 2, 2026 show moderate growth, and the company reaffirmed its fiscal 2026 outlook.
At the close of 04 Nov 2026, Core & Main, Inc. (CNM) stock was 48.63 USD (+8.38% on the day), with P/E 20.1 on diluted EPS of 2.42 USD over the last 12 months, beta 1.06, 52-week range 40.35–59.09 USD. Latest reported quarter (Q2 2027): revenue of 2.1 bn USD (+2.5% YoY), net income of 144.0 m USD (+7.5% YoY), diluted EPS 0.77 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 79.0
- overbought (≥ 70)
- Bollinger (20, 2)
- 38.49 – 46.45
- above the upper band · %B 1.27 · band width 18.7%
- SMA 50 / 200
- 42.40 / 47.76
- mixed trend
- MACD (12, 26, 9)
- 1.00 / 0.33
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +16.3% | −1.1% | +17.4 pp | — |
| 3 months | +4.5% | −0.5% | +5.0 pp | — |
| 6 months | −4.0% | +4.4% | −8.4 pp | — |
| Year to date | −6.4% | +12.3% | −18.7 pp | — |
| 1 year | −5.1% | +13.5% | −18.7 pp | −37.4% |
| 3 years | +52.5% | +76.4% | −23.9 pp | −36.9% |
| 5 years | +79.4% | +63.7% | +15.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 02 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.0 bn | 1.7 bn | 1.9 bn | 2.1 bn | 2.1 bn | 1.6 bn | 1.9 bn | 2.1 bn |
| Cost of revenue | 1.5 bn | 1.2 bn | 1.4 bn | 1.5 bn | 1.5 bn | 1.2 bn | 1.4 bn | 1.6 bn |
| Gross profit | 543.0 m | 451.0 m | 510.0 m | 560.0 m | 561.0 m | 428.0 m | 520.0 m | 573.0 m |
| SG&A | 274.0 m | 279.0 m | 293.0 m | 302.0 m | 295.0 m | 264.0 m | 299.0 m | 301.0 m |
| Operating income | 223.0 m | 124.0 m | 171.0 m | 213.0 m | 220.0 m | 118.0 m | 177.0 m | 227.0 m |
| Depreciation & amortisation | 46.0 m | 50.0 m | 48.0 m | 45.0 m | 46.0 m | 48.0 m | 47.0 m | 45.0 m |
| Interest expense | 36.0 m | 36.0 m | 30.0 m | 31.0 m | 30.0 m | 29.0 m | 27.0 m | 32.0 m |
| Pre-tax income | 187.0 m | 88.0 m | 141.0 m | 182.0 m | 190.0 m | 94.0 m | 150.0 m | 193.0 m |
| Income tax | 47.0 m | 21.0 m | 36.0 m | 41.0 m | 47.0 m | 21.0 m | 37.0 m | 43.0 m |
| Net income | 133.0 m | 64.0 m | 100.0 m | 134.0 m | 137.0 m | 70.0 m | 108.0 m | 144.0 m |
| Diluted EPS | 0.69 | 0.32 ≈ | 0.52 | 0.70 | 0.72 | 0.36 ≈ | 0.57 | 0.77 |
| Operating cash flow | 260.0 m ≈ | 235.0 m | 77.0 m | 34.0 m ≈ | 271.0 m ≈ | 268.0 m | 82.0 m | 62.0 m ≈ |
| Capex | 8.0 m ≈ | 11.0 m | 13.0 m | 10.0 m ≈ | 8.0 m ≈ | 15.0 m | 14.0 m | 18.0 m ≈ |
| Share repurchases | 100.0 m ≈ | 55.0 m | 39.0 m | 8.0 m ≈ | 50.0 m ≈ | 58.0 m | 88.0 m | 169.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 50 percentile of its own 18-quarter history (min 7.6, median 20.1, max 28.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 3.4 bn | 3.6 bn | 5.0 bn | 6.7 bn | 6.7 bn | 7.4 bn | 7.6 bn |
| Revenue YoY | unavailable | +7.5% | +37.4% | +32.9% | +0.8% | +11.0% | +2.8% |
| Net income | 36.0 m | 37.0 m | 166.0 m | 366.0 m | 371.0 m | 411.0 m | 441.0 m |
| Net income YoY | unavailable | +2.8% | +348.6% | +120.5% | +1.4% | +10.8% | +7.3% |
| Diluted EPS | unavailable | unavailable | 0.55 | 2.13 | 2.15 | 2.13 | 2.31 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | +287.3% | +0.9% | −0.9% | +8.5% |
| net % | 1.1% | 1.0% | 3.3% | 5.5% | 5.5% | 5.5% | 5.8% |
| Free cash flow | 180.0 m | 202.0 m | -51.0 m | 376.0 m | 1.0 bn | 586.0 m | 604.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 01 Feb 2026
- Cash
- 220.0 m USD
- Financial debt
- 2.1 bn USD
- Net debt
- 1.9 bn USD
- Equity
- 2.1 bn USD
- Total assets
- 6.1 bn USD
- Debt / equity
- 1.04x
- Current ratio
- 2.63x
- ROE
- 22.9%
- ROA
- 7.4%
- FCF margin
- 7.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.6 bn | 5.0 bn | 6.7 bn | 6.7 bn | 7.4 bn | 7.6 bn | SEC (XBRL)· 24 Mar 2026verified |
| Cost of revenue | 2.8 bn | 3.7 bn | 4.9 bn | 4.9 bn | 5.5 bn | 5.6 bn | SEC (XBRL)· 24 Mar 2026verified |
| Gross profit | 878.0 m | 1.3 bn | 1.8 bn | 1.8 bn | 2.0 bn | 2.1 bn | SEC (XBRL)· 24 Mar 2026verified |
| SG&A | 556.0 m | 717.0 m | 880.0 m | 931.0 m | 1.1 bn | 1.2 bn | SEC (XBRL)· 24 Mar 2026verified |
| Operating income | 185.0 m | 425.0 m | 775.0 m | 740.0 m | 719.0 m | 722.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Depreciation & amortisation | 153.0 m | 150.0 m | 148.0 m | 154.0 m | 194.0 m | 192.0 m | SEC (XBRL)· 24 Mar 2026verified |
| EBITDA | 338.0 m ≈ | 575.0 m ≈ | 923.0 m ≈ | 894.0 m ≈ | 913.0 m ≈ | 914.0 m ≈ | SEC (XBRL)· 24 Mar 2026derived |
| Interest expense | 139.0 m | 98.0 m | 66.0 m | 81.0 m | 142.0 m | 120.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Pre-tax income | 46.0 m | 276.0 m | 709.0 m | 659.0 m | 577.0 m | 607.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Income tax | 9.0 m | 51.0 m | 128.0 m | 128.0 m | 143.0 m | 145.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Net income | 37.0 m | 166.0 m | 366.0 m | 371.0 m | 411.0 m | 441.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Diluted EPS | — | 0.55 | 2.13 | 2.15 | 2.13 | 2.31 | SEC (XBRL)· 24 Mar 2026verified |
| Weighted average diluted shares | — | 244.5 m | 246.2 m | 227.8 m | 201.4 m | 197.9 m | SEC (XBRL)· 24 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 381.0 m | 1.0 m | 177.0 m | 1.0 m | 8.0 m | 220.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Receivables | 495.0 m | 784.0 m | 851.0 m | 888.0 m | 986.0 m | 981.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Inventories | 384.0 m | 856.0 m | 1.0 bn | 766.0 m | 908.0 m | 986.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Current assets | 1.3 bn | 1.8 bn | 2.2 bn | 1.8 bn | 2.0 bn | 2.3 bn | SEC (XBRL)· 24 Mar 2026verified |
| Property, plant & equipment, net | 86.0 m | 94.0 m | 105.0 m | 151.0 m | 168.0 m | 178.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Goodwill | 1.5 bn | 1.5 bn | 1.5 bn | 1.6 bn | 1.9 bn | 1.9 bn | SEC (XBRL)· 24 Mar 2026verified |
| Intangibles (excl. goodwill) | 919.0 m | 871.0 m | 795.0 m | 784.0 m | 935.0 m | 823.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Total assets | 3.9 bn | 4.4 bn | 4.9 bn | 5.1 bn | 5.9 bn | 6.1 bn | SEC (XBRL)· 24 Mar 2026verified |
| Accounts payable | 326.0 m | 608.0 m | 479.0 m | 504.0 m | 562.0 m | 512.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Short-term debt | 13.0 m | 15.0 m | 15.0 m | 15.0 m | 24.0 m | 24.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Long-term debt | 2.3 bn | 1.5 bn | 1.4 bn | 1.9 bn | 2.2 bn | 2.1 bn | SEC (XBRL)· 24 Mar 2026verified |
| Current liabilities | 522.0 m | 839.0 m | 726.0 m | 774.0 m | 866.0 m | 874.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Total liabilities | 3.1 bn | 2.6 bn | 2.5 bn | 3.5 bn | 4.1 bn | 4.0 bn | SEC (XBRL)· 24 Mar 2026verified |
| Equity | — | 1.8 bn | 2.4 bn | 1.5 bn | 1.8 bn | 2.1 bn | SEC (XBRL)· 24 Mar 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 214.0 m | -31.0 m | 401.0 m | 1.1 bn | 621.0 m | 650.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Capex | 12.0 m | 20.0 m | 25.0 m | 39.0 m | 35.0 m | 46.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Free cash flow | 202.0 m ≈ | -51.0 m ≈ | 376.0 m ≈ | 1.0 bn ≈ | 586.0 m ≈ | 604.0 m ≈ | SEC (XBRL)· 24 Mar 2026derived |
| Investing cash flow | -229.0 m | -203.0 m | -152.0 m | -270.0 m | -788.0 m | -145.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Financing cash flow | 215.0 m | -146.0 m | -73.0 m | -975.0 m | 174.0 m | -293.0 m | SEC (XBRL)· 24 Mar 2026verified |
| Share repurchases | — | 0 | 0 | 1.3 bn | 176.0 m | 155.0 m | SEC (XBRL)· 24 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 55 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
- Balance sheet66
- Quality79
- Valuation20
- Growth29
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 11.72 – 40.80 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E11.72 – 40.80 (Mid 33.15)5 companies used · median multiple 13.7x · quartiles 4.8x – 16.9xAENT, GOLD, POOL, SORA, YDDL
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 55/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 13.4% | 88 (on a fixed band) | 15% |
| Net margin · Quality | 6.0% | 43 (vs peers) | 9% |
| FCF conversion · Quality | 136.8% | 100 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 4.8% | 40 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | 2.7% | 18 (on a fixed band) | 12% |
| Net debt / EBITDA · Balance sheet | 2.3x | 48 (on a fixed band) | 15% |
| Interest coverage · Balance sheet | 6.3x | 74 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 2.5x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 20.1x | 20 (vs peers) | 15% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet66/100 · 3/3 factors with a value
- Growth29/100 · 2/2 factors with a value
- Quality79/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial20/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Core & Main, Inc. (CNM). Latest full fiscal year: 2026; data up to 2026-08-02.
Figures computed from the financial statements: revenue 7.6 bn USD in 2026; YoY growth 2.8%; net margin 6.0%; ROE 23.4%; net debt/EBITDA 2.3x.
The estimated value range is 11.72–40.80 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 33.15 USD, the price of 48.63 USD leaves a potential of -31.8% (value / price − 1) and a margin of safety of -46.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 55/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 13.4%
- FCF conversion: 136.8%
- Interest coverage: 6.3x
- Current ratio: 2.5x
What contradicts it
- EPS CAGR 3Y: 2.7%
- P/E (TTM): 20.1x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Wholesale — durable goods (SIC 509x) · same industry group (3-digit SIC) · compared with 7 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| POOLPool Corporation | 7.8 bn | 20.2 | 30.4% | 7.3% | −0.4% | −10% / −37% |
| GOLDGold.com, Inc. | 1.2 bn | 13.7 | 10.8% | 0.3% | +132.4% | +44% / +45% |
| AENTAlliance Entertainment Holding Corporation | 223.6 m | 16.9 | 11.9% | 483.6% | 0.0% | −34% / +362% |
| SORAAsiaStrategy | 60.4 m | 4.8 | 106.1% | 111.9% | −37.7% | −37% / unavailable |
| BGMSBio Green Med Solution, Inc. | 5.9 m | — | -40.8% | -204.0% | −100.0% | −41% / −100% |
| GNLNGreenlane Holdings, Inc. | 871.7 k | — | -534.0% | -4,630.6% | −67.2% | −95% / −100% |
| CNMCore & Main, Inc. | — | 20.1 | 23.4% | 6.0% | +2.8% | −5% / +52% |
| YDDLOne and one Green Technologies. INC | — | 4.6 | 37.8% | 17.9% | +23.1% | −79% / unavailable |
1- and 3-year price returns: for CNM from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Core & Main is a specialty distributor of water, wastewater, storm drainage and fire protection products, operating a network of over 370 branches in the United States and Canada and serving municipalities, private water companies and professional contractors 1. Net sales of 2,145 million USD in the quarter ended August 2, 2026 show moderate growth, and the company reaffirmed its fiscal 2026 outlook 3.
SWOT
Strengths
- The national branch network and local access to customers and suppliers form an operating base that is hard to replicate 1.
- A very broad product portfolio and technical expertise support relationships with municipal customers 1.
- The company has shown acquisition and integration capability and enough cash generation to fund share repurchases 3.
Weaknesses
Opportunities
- Federal water funds, if allocated efficiently, could generate additional municipal projects 1.
- The fragmented market offers acquisition opportunities, and greenfield expansion can widen geographic reach 3.
- Large projects such as treatment plants and data centers showed strong growth according to the results release 3.
Risks
- Construction cyclicalityhigh
A slowdown in residential and non-residential construction could reduce sales, particularly if interest rates remain high 1.
- Delayed municipal fundingmedium
Municipal budget difficulties or delays in federal funds could postpone projects and sales 1.
- Volatile procurement pricesmedium
If product prices rise faster than they can be passed on to customers, gross margin could be affected 1.
- Debt and interest costsmedium
Variable-rate debt exposes the company to higher financing costs, although part of the risk is hedged with swaps 2.
- Tariffs and international tradelow
Changes in tariff policy could alter costs for imported products, although the disclosed exposure is limited 2.
Investment thesis
What would need to be true (bull case)
- If federal water funding is largely deployed, municipal demand could support sales growth over several years 1.
- Its position as one of two national distributors and its broad network could let the company gain share from a fragmented sector 1.
- Growing adjusted EBITDA alongside share repurchases could support growth in earnings per share 3.
What would break the thesis
What to watch
- Delivery against the fiscal 2026 outlook of 7,800-7,900 million USD in net sales and 950-980 million USD in adjusted EBITDAQ4 2026
- Municipal demand trends and the actual allocation of IIJA funds2027
- Effect of replacement tariffs on procurement costsQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The stated strategy combines geographic expansion in underpenetrated areas, growing share with strategic accounts, accelerating adoption of new products and selective acquisitions run through a structured M&A process 1. The company also aims to expand gross margin through private label products, sourcing optimization and data-driven pricing 1. Talent development is presented as a third pillar supporting local service 1.
In the second quarter of fiscal 2026 the company opened seven greenfield locations during the year and repurchased 169 million USD of shares in the quarter; net debt at August 2, 2026 stood at 2,166 million USD 3.
Segments
Municipal
The municipal segment accounted for about 44% of net sales in fiscal 2025, tied to repair, replacement and expansion of water and wastewater systems; the company describes demand as steady over the long term because aging infrastructure must be replaced 1.
Non-residential
The non-residential segment accounted for about 38% of net sales in fiscal 2025 and covers commercial, industrial, institutional, warehouse and road projects; the company notes fire protection products are typically installed later in construction projects 1.
Residential
The residential segment accounted for about 18% of net sales in fiscal 2025 and is linked to land and lot development for single-family housing, with products installed in the early stages of development 1.
Market context
The company estimates its addressable market in the United States and Canada for water, wastewater, storm drainage and fire protection distribution at about 44 billion USD in sales in fiscal 2025 1. The market is described as highly fragmented, with only two national distributors of comparable scale 1. Demand depends on municipal spending, utility rates, interest rates and residential and commercial construction 1.
The IIJA allocation of 55 billion USD for U.S. water infrastructure is considered by the company to be largely unrealized, which could support municipal demand in coming years 1. Interest rates remain a sensitive factor for residential and non-residential construction, and the Federal Reserve has not clearly signalled its future direction 1.
Trends
- Water infrastructure fundingmixed
Federal investment through the IIJA could accelerate municipal projects, but delays in allocating funds could postpone benefits for distributors 1.
- Interest rates and constructionheadwind
Interest rates influence residential and non-residential demand; if rates stay high, new construction could slow 1.
- Acquisitions and market consolidationtailwind
The fragmented market offers acquisition opportunities, and the company says its acquisition pipeline is active 3.
- Product costs and tariffsmixed
Procurement prices are volatile and tariffs could raise costs, although the company says most products it buys are manufactured domestically 2.
Competitive position
The market is intensely competitive and fragmented, with many regional and local distributors; the company says it is one of only two national distributors in this market 1. Municipal contracts are often awarded through price-based bidding, which could lead to losing contracts to lower-cost competitors 1.
Competitive pressure may also rise from alternatives to distribution in the supply chain, a risk the company acknowledges 1. Its stated advantages are local networks, a broad portfolio and project planning capabilities 1.
- The other national water distributor
The company states it operates alongside one other national distributor in this market, which is not named in the analysed source 1.
- Regional and local distributors
The company describes numerous smaller competitors that may offer lower prices in municipal bids 1.
- Suppliers selling directly to customers
The company notes that alternatives to distribution in the supply chain could increase competitive pressure 1.
- Specialist drainage and fitting distributors
Specialised competitors in particular product categories, harder to identify individually from the available sources 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Core & Main (CNM) Grew Sales 2.5% and Repurchased $169 Million. Is EPS Growth Durable?Yahoo Finance — News · 16 Sept 2026 · EN
- Acquisitions Are Doing More of the Work in Core & Main’s (CNM) Growth StoryYahoo Finance — News · 15 Sept 2026 · EN
- Core & Main, Inc. Q2 2027 Earnings Call SummaryYahoo Finance — News · 09 Sept 2026 · EN
- Core & Main Q2 adjusted earnings beat estimates as revenue rises 2.5%Yahoo Finance — News · 09 Sept 2026 · EN
SEC filings
- Quarterly report09 Sept 2026
- Current report09 Sept 2026Results of operations · Financial statements and exhibits
- Current report02 Jul 2026Material agreement · Financial statements and exhibits
- Current report25 Jun 2026Other events · Financial statements and exhibits
- Current report23 Jun 2026Shareholder vote · Financial statements and exhibits
- Current report22 Jun 2026Other events · Financial statements and exhibits
- Quarterly report10 Jun 2026
- Current report10 Jun 2026Results of operations · Financial statements and exhibits
- Proxy statement07 May 2026
- Current report10 Apr 2026Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-02-01 · SEC / Core & Main, Inc. · 24 Mar 2026
- [2] Form 10-Q, quarter ended 2026-08-02 · SEC / Core & Main, Inc. · 09 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Core & Main, Inc. · 09 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.