CNMNYSEWholesale-Durable Goods, NECFiscal year ends January 31
Core & Main, Inc.
Financials through Q2 FY2026, quarter ended Aug 2, 2026Last filing: 10-Q on Sep 9, 2026
$41.68−0.31 (-0.74%)
Close on Oct 19, 2026
- Market cap
- $8.06B
- P/E (TTM)
- 17.2
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
26.9%+2.8 pts over 5 years
Operating margin
9.4%+4.4 pts over 5 years
Net margin
5.8%+4.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.8% | +4.8% | +16.0% | – | |
| Gross profit | +4.0% | +4.7% | +18.6% | – | |
| Operating income | +0.4% | -2.3% | +31.3% | – | |
| Net income | +7.3% | +6.4% | +64.2% | – | |
| EPS, diluted | +8.5% | +2.7% | – | – | |
| Free cash flow | +3.1% | +17.1% | +24.5% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 23.9% | |
| Return on assets | – | – | 7.4% | |
| Current ratio | – | 2.56 | 2.63 | |
| Debt to equity | – | – | 1.08 | |
| Net debt to EBITDA | – | 5.57× | 2.11× | |
| Interest coverage | – | 1.3× | 6.0× | |
| Inventory turnover | – | – | 5.9× | |
| Capex to revenue | – | 0.3% | 0.6% | |
| Diluted shares | – | – | 198M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Core & Main generated $2.77B from operations and spent $1.84B on capital expenditure, dividends and share buybacks. 9% of that went back into the business.
Generated
$2.77B
Used
$1.84B
Capital expenditure$165.00M9%Dividends$00%Share buybacks$1.68B91%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin5.8%
×Asset turnover1.28×
×Equity multiplier3.24×
=Return on equity, FY202523.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 5.8% | 1.28× | 3.24× | 23.9% |
| FY2024 | 5.5% | 1.36× | 3.47× | 26.1% |
| FY2023 | 5.5% | 1.34× | 3.12× | 23.2% |
| FY2022 | 5.5% | 1.42× | 3.04× | 23.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$441.00M
- Cash generatingOperating cash flow above zero$650.00M
- Return on assets improvedROA up on the prior year8.1% → 7.5%
- Earnings backed by cashOperating cash flow above net income$650.00M vs $441.00M
- Less leverageLong-term debt to assets fell38.1% → 34.9%
- Better liquidityCurrent ratio rose2.34 → 2.63
- No dilutionShare count did not rise201M → 198M
- Gross margin improvedGross margin up on the prior year26.61% → 26.93%
- More efficientAsset turnover rose1.47 → 1.30