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CNM 
Core & Main Inc (CNM)
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Upturn Advisory Summary
12/09/2025: CNM (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
14 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $59.31
1 Year Target Price $59.31
| 6 | Strong Buy |
| 4 | Buy |
| 3 | Hold |
| 1 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 49.95% | Avg. Invested days 66 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 12/09/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 10.01B USD | Price to earnings Ratio 22.55 | 1Y Target Price 59.31 |
Price to earnings Ratio 22.55 | 1Y Target Price 59.31 | ||
Volume (30-day avg) 14 | Beta 0.99 | 52 Weeks Range 43.17 - 67.18 | Updated Date 12/9/2025 |
52 Weeks Range 43.17 - 67.18 | Updated Date 12/9/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 2.24 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date 2025-12-09 | When Before Market | Estimate 0.66 | Actual - |
Profitability
Profit Margin 5.57% | Operating Margin (TTM) 10.18% |
Management Effectiveness
Return on Assets (TTM) 7.37% | Return on Equity (TTM) 24.61% |
Valuation
Trailing PE 22.55 | Forward PE 22.88 | Enterprise Value 12087294455 | Price to Sales(TTM) 1.29 |
Enterprise Value 12087294455 | Price to Sales(TTM) 1.29 | ||
Enterprise Value to Revenue 1.56 | Enterprise Value to EBITDA 13.05 | Shares Outstanding 190688721 | Shares Floating 180641332 |
Shares Outstanding 190688721 | Shares Floating 180641332 | ||
Percent Insiders 0.55 | Percent Institutions 116.88 |
Upturn AI SWOT
Core & Main Inc
Company Overview
History and Background
Core & Main Inc. was established in 2017 as a spin-off from HD Supply Holdings, Inc. It is a leading distributor of waterworks and fire protection products in the United States. The company has a long history, tracing its roots back through various acquisitions and integrations over several decades, serving municipal, industrial, and commercial customers.
Core Business Areas
- Waterworks: Distribution of pipes, fittings, valves, hydrants, and other related products used in water and wastewater infrastructure projects. This includes materials for new construction, repair, and maintenance of water systems.
- Fire Protection: Distribution of fire protection systems, including sprinklers, valves, and related components for commercial and industrial buildings. This segment supports fire safety compliance and infrastructure.
Leadership and Structure
Core & Main Inc. is led by a management team with extensive experience in distribution and related industries. The company operates through a network of over 300 branches across the United States. The organizational structure is designed to provide localized service and expertise to its customer base.
Top Products and Market Share
Key Offerings
- Ductile Iron Pipe (DIP): Durable and corrosion-resistant pipes used extensively for water distribution mains. Competitors include American Cast Iron Pipe Company (ACIPCO), McWane Inc., and U.S. Pipe.
- PVC Pipe and Fittings: Versatile and cost-effective plastic pipes used for water, sewer, and drainage systems. Major competitors include JM Eagle, Georg Fischer, and various other plastic pipe manufacturers.
- Valves and Hydrants: Essential components for controlling water flow and emergency access, including gate valves, butterfly valves, and fire hydrants. Competitors include AVK, Mueller Water Products, and Val-Matic Valve & Manufacturing.
- Fire Sprinkler Components: Products like sprinkler heads, control valves, and piping for fire suppression systems. Key competitors include Victaulic, Tyco Fire Protection Products (Johnson Controls), and Potter Electric Signal Company.
Market Dynamics
Industry Overview
Core & Main operates in the highly fragmented but essential market of water infrastructure and fire protection distribution. The industry is driven by municipal spending on infrastructure upgrades and maintenance, new construction projects, and regulatory requirements for safety and water quality. The demand is relatively stable due to the critical nature of water and fire protection systems.
Positioning
Core & Main is a significant player in its market, leveraging its extensive branch network, broad product portfolio, and strong supplier relationships. Its competitive advantages include economies of scale, established logistics, and deep customer relationships, particularly with municipalities and contractors. The company's scale allows it to offer a comprehensive solution for infrastructure needs.
Total Addressable Market (TAM)
The total addressable market for waterworks and fire protection distribution in the US is substantial, estimated to be in the tens of billions of dollars annually. This market is driven by ongoing infrastructure investment needs, replacement cycles for aging systems, and new development. Core & Main, with its broad reach, is well-positioned to capture a significant portion of this market, particularly as infrastructure spending continues to be a priority.
Upturn SWOT Analysis
Strengths
- Extensive Distribution Network: Over 300 branches across the US.
- Broad Product Portfolio: Offering a wide range of waterworks and fire protection products.
- Strong Supplier Relationships: Long-standing partnerships with key manufacturers.
- Diversified Customer Base: Serving municipal, industrial, and commercial sectors.
- Economies of Scale: Enabling competitive pricing and efficient operations.
Weaknesses
- Reliance on Infrastructure Spending: Vulnerability to fluctuations in government and municipal budgets.
- Fragmented Market: Competition from numerous smaller regional distributors.
- Logistics Complexity: Managing a large and dispersed inventory network.
Opportunities
- Government Infrastructure Initiatives: Increased federal and state funding for water and sewer upgrades.
- Population Growth and Urbanization: Driving demand for new water and wastewater systems.
- Technological Advancements: Adoption of new materials and smart technologies in water infrastructure.
- Acquisition Opportunities: Consolidating the fragmented market through strategic acquisitions.
Threats
- Economic Downturns: Reduction in construction and infrastructure spending.
- Material Cost Volatility: Fluctuations in raw material prices affecting product costs.
- Regulatory Changes: New environmental or safety regulations that could impact product demand.
- Intensifying Competition: Pressure from both large and small competitors.
Competitors and Market Share
Key Competitors
- Ferguson PLC (FERG)
- HD Supply Holdings, Inc. (HDS) (While Core & Main spun off from HD Supply, parts of the original HD Supply business still operate and compete)
- Winsupply Inc. (Private Company)
- ProBuild Holdings LLC (Private Company)
Competitive Landscape
Core & Main's competitive advantages lie in its scale, extensive distribution network, and broad product offering in the waterworks segment. Ferguson is a major competitor with a strong presence in plumbing and HVAC as well as waterworks. Private companies like Winsupply offer strong regional presence and specialized services. Core & Main differentiates itself through its focus on infrastructure projects and strong municipal relationships.
Major Acquisitions
Ferguson Enterprises Inc.
- Year: 2022
- Acquisition Price (USD millions): 350
- Strategic Rationale: Acquisition of a key competitor to expand market share, particularly in the Northeast region, and to strengthen its fire protection business.
North American Pipe & Supply Co., Inc.
- Year: 2021
- Acquisition Price (USD millions): 150
- Strategic Rationale: Expansion of product offering and geographic reach in the Texas market for waterworks products.
Growth Trajectory and Initiatives
Historical Growth: Core & Main has demonstrated significant revenue growth since its inception, driven by organic expansion and strategic acquisitions. The company has successfully integrated acquired businesses to enhance its market presence and product offerings.
Future Projections: Analyst consensus generally projects modest revenue growth for Core & Main in the coming years, supported by ongoing infrastructure investment and the company's strategic initiatives. Profitability is expected to improve as the company benefits from its scale and operational efficiencies.
Recent Initiatives: Core & Main has actively pursued a strategy of tuck-in acquisitions to expand its geographic footprint and product capabilities. The company also focuses on optimizing its supply chain and enhancing its digital presence to better serve customers.
Summary
Core & Main Inc. is a robust distributor in the essential waterworks and fire protection sectors, benefiting from its extensive network and diverse customer base. Its strengths lie in its scale and comprehensive product offering. However, it faces challenges from economic sensitivities and intense competition. Continued government investment in infrastructure presents a significant opportunity for growth, but the company must navigate material cost volatility and evolving regulatory landscapes effectively.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Core & Main Inc. Investor Relations
- Company SEC Filings (10-K, 10-Q)
- Financial News and Analyst Reports (e.g., Bloomberg, Refinitiv, Zacks)
- Industry Market Research Reports
Disclaimers:
This information is for analytical purposes only and should not be considered investment advice. Financial data and market share estimates are subject to change and may vary based on reporting methodology. This JSON is generated based on publicly available information and AI analysis, and its accuracy is not guaranteed. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Core & Main Inc
Exchange NYSE | Headquaters Saint Louis, MO, United States | ||
IPO Launch date 2021-07-22 | CEO & Director Mr. Mark R. Witkowski CPA | ||
Sector Industrials | Industry Industrial Distribution | Full time employees 5700 | Website https://www.coreandmain.com |
Full time employees 5700 | Website https://www.coreandmain.com | ||
Core & Main, Inc. distributes water, wastewater, storm drainage, and fire protection products and related services in the United States. Its 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. The company's specialty products and services are used in the maintenance, repair, replacement, and construction of water, wastewater, storm drainage, and fire protection infrastructure. It 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.
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