| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 70 | 16.6x | 17.8x | Top tier | |
Growth | 28 | 9.8% | 7.1% | Bottom tier | |
Quality | 59 | 12.2% | 4.5% | Around median | |
Safety | 58 | 2.5x | 2.6x | Around median | |
Capital Return | 32 | — | 2.12% | Bottom tier | |
Momentum | 17 | -30.5% | 2.9% | Bottom tier | |
Sentiment | 84 | 6 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Core & Main distributes products and solutions required for water, wastewater, stormwater drainage, fire protection, and smart utility infrastructure. The company benefits from its branch network and local relationships with contractors, municipalities, and suppliers, generating revenue from supplying pipes, meters, and specialized products, as well as software, integration services, and technical support for complex, multi-year projects. Demand drivers include municipal water network repairs, treatment plants, data center development, and fire protection projects, while residential land development and light commercial construction represent weaker areas in the mix.
In the second quarter of fiscal 2026, net sales increased 2.5% to approximately $2.1 billion, with volume, pricing, and acquisitions all contributing positively to growth, and acquisitions contributing less than one percentage point. Gross profit according to EDGAR data was approximately $573 million, and the company reported a gross margin of approximately 26.7% in its earnings presentation, while net income was $144 million and earnings per share according to EDGAR were approximately $0.77. On an adjusted basis, earnings before interest, taxes, depreciation, and amortization increased 3% to $274 million, its margin expanded 10 basis points to 12.8%, and adjusted diluted earnings per share increased 8% to $0.94.
The operating mix was uneven in the second quarter of fiscal 2026: fire protection sales grew 14%, and the contribution from data center projects nearly doubled year over year to a mid-single-digit percentage of total business and a high-single-digit percentage of non-residential business. Treatment plant solutions achieved strong double-digit growth and came to represent a mid-single-digit percentage of sales, while municipal activity remained stable at low-single-digit growth. In contrast, residential land development declined by a high-single-digit percentage, and light commercial construction and retail remained weak.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is rated “Buy,” but the average, highest, and lowest targets are all $24, approximately 42% below the 52-week range low of $41.25 and approximately 60% below its high of $59.66; therefore, the internal consensus data appear inconsistent and do not provide a genuine range of differing views. The available data do not include a standardized price-to-earnings multiple suitable for reliance, while the stock’s decline after the September 9, 2026 results reflects the market’s focus on slow organic growth, the timing of large projects, and margin sustainability rather than merely a modest quarterly expectations beat.
Figures in the text are as of 2026-09-10; the live price is shown at the top of the page.
Net sales increased 2.5% to approximately $2.1 billion, while gross profit according to EDGAR was approximately $573 million and net income was $144 million. The company reported a gross margin of approximately 26.7%, while adjusted earnings before interest, taxes, depreciation, and amortization increased 3% to $274 million and its margin expanded to 12.8%. Earnings per share according to EDGAR were approximately $0.77, while adjusted diluted earnings per share increased 8% to $0.94 from $0.87 a year earlier.
The company provides data center projects with water, wastewater, and stormwater drainage infrastructure from the site development stages, then adds fire protection systems as construction progresses. Data center activity nearly doubled year over year in the second quarter of fiscal 2026 and came to represent a mid-single-digit percentage of total business and a high-single-digit percentage of non-residential business. Additional revenue may arise when municipalities need to expand water capacity or build treatment facilities to serve data centers and the surrounding areas.
Management described Miami-Dade as its largest known smart meter project, an implementation project spanning approximately five years. The company expects to move only between 5% and 10% of the project’s volume near the end of fiscal 2026 due to testing phases and preparatory work. During fiscal 2027, it expects the project to reach a full pace of approximately 100 thousand meters installed and connected annually, making it a multi-year driver rather than an immediate revenue surge.
The company reaffirmed its annual revenue range of $7.8 billion to $7.9 billion and its adjusted earnings before interest, taxes, depreciation, and amortization range of $950 million to $980 million. It also maintained its operating cash flow conversion target of 60% to 70%, with most cash flow expected to be generated in the second half because of business seasonality. Management expects adjusted earnings margin expansion in the second half, particularly in the fourth quarter of fiscal 2026, supported by leverage in selling, general, and administrative expenses and some improvement in gross margin.
Residential land development activity declined by a high-single-digit percentage in the second quarter of fiscal 2026, following a low-double-digit decline in the first quarter. Management expects this activity to be flat or slightly lower in the second half and to end the year with a mid-single-digit decline, without assuming a market-level recovery. Light commercial construction and retail also remained weak, while data centers offset a significant portion of this pressure within the non-residential market.
The company spent $169 million to repurchase 3.7 million shares in the second quarter of fiscal 2026, and spending reached approximately $270 million for 5.7 million shares after including purchases made after the end of the quarter. Since the initial public offering, it has repurchased approximately 58 million shares for a value of nearly $2 billion, equivalent to approximately 25% of the shares outstanding at the time of the offering. In parallel, it opened seven new locations since the beginning of fiscal 2026 and acquired Walker Industries in Hawaii after the end of the quarter, while its long-term strategy targets acquisitions contributing approximately two to four percentage points of sales growth.
