Core & Main Management
Management criteria checks 2/4
Core & Main's CEO is Mark Witkowski, appointed in Mar 2025, has a tenure of 1.5 years. total yearly compensation is $9.33M, comprised of 8.4% salary and 91.6% bonuses, including company stock and options. directly owns 0.011% of the company’s shares, worth $867.90K. The average tenure of the management team and the board of directors is 1.9 years and 4.8 years respectively.
Key information
Mark Witkowski
Chief executive officer
US$9.3m
Total compensation
| CEO salary percentage | 8.43% |
| CEO tenure | 1.5yrs |
| CEO ownership | 0.01% |
| Management average tenure | 1.9yrs |
| Board average tenure | 4.8yrs |
Recent management updates
Recent updates
Narrative Update • Sep 09
CNM: Municipal Demand And Capital Projects Will Likely Keep Shares Fairly Valued
Core & Main's analyst price target has shifted, with the fair value estimate moving from about $44.65 to around $40.16 as analysts factor in a slightly different mix of revenue growth, profit margin expectations, and future P/E assumptions. What’s in the News for Core & Main Core & Main reported fiscal 2026 Q2 net sales of US$2.15b, which the company attributed to demand in municipal markets, fire protection, and large capital projects.Seeking Alpha • Sep 09
Core & Main's Drop Is A Great Chance To Dive In (Upgrade)
Summary Core & Main is upgraded from ‘hold’ to a soft ‘buy’ after shares fell, making the stock attractively valued both absolutely and relative to peers. CNM maintained guidance for FY2026, projecting revenue of $7.8–$7.9B and EBITDA of $950–$980M, signaling management confidence despite recent earnings misses. Growth was driven by fire protection products and acquisitions, while smart utility and storm drainage segments faced short-term headwinds and tepid performance. Long-term catalysts include significant infrastructure investment needs and continued market share gains, supporting a positive outlook for CNM. Read the full article on Seeking AlphaNarrative Update • Jun 26
CNM: Municipal Demand And Margin Focus Will Likely Keep Shares Fairly Valued
Analysts have slightly reduced their price target for Core & Main to about $44.65 from roughly $45.20. This reflects updated views on the company’s discount rate, revenue growth, profit margin, and future P/E assumptions.
Narrative Update • Jun 11
CNM: Municipal Strength And Buybacks Will Support Future Upside Potential
Analysts now hold their overall price view on Core & Main steady at a fair value of $75.00, citing small adjustments to discount rate, revenue growth, profit margin, and future P/E assumptions, rather than a fundamental change in the story. What's in the News Core & Main reported its Q4 fiscal 2025 results, highlighting its 16th consecutive year of sales growth, driven by market share gains, margin expansion, and strong cash flow.Narrative Update • May 28
CNM: Share Repurchases And Solid Sales Outlook Will Support Future Upside
Analysts are maintaining their $75.00 price target on Core & Main, citing adjusted assumptions around the discount rate, revenue growth, profit margin, and future P/E that they view as offsetting each other at this stage. What's in the News From November 3, 2025 to March 24, 2026, Core & Main repurchased 2,024,355 shares, representing 1.07% of its shares, for US$97.7 million under its ongoing buyback (company filing).Narrative Update • May 02
CNM: Share Repurchases And Modest Sales Outlook Will Keep Shares Fairly Valued
Analysts have trimmed their 12 month price target on Core & Main from about $45.94 to around $45.20, reflecting slightly adjusted assumptions on the discount rate, revenue growth, profit margin, and future P/E. What's in the News Core & Main reported that from November 3, 2025 to March 24, 2026, it repurchased 2,024,355 shares, representing 1.07% of shares, for $97.7 million under its existing buyback program (Key Developments).Narrative Update • Apr 17
CNM: Buybacks And Modest Sales Outlook Will Still Leave Shares Overvalued
Analysts have made a small upward adjustment to their Core & Main price target, now reflecting a fair value of about $45.94 from $45.82, supported by updated assumptions for revenue growth, profit margins and future P/E multiples. What's in the News Core & Main reported that, from November 3, 2025 to March 24, 2026, it repurchased 2,024,355 shares, representing 1.07% of shares, for $97.7 million under its ongoing buyback program.
Narrative Update • Apr 02
CNM: Share Repurchases And Higher Long Term Revenue Assumptions Will Support Upside
Analysts now see Core & Main's fair value price target at about $60.56, down slightly from roughly $61.06. This reflects updated views on the discount rate, revenue growth, profit margin and future P/E assumptions.Analysis Article • Mar 28
Core & Main, Inc. (NYSE:CNM) Annual Results Just Came Out: Here's What Analysts Are Forecasting For This Year
Core & Main, Inc. ( NYSE:CNM ) last week reported its latest annual results, which makes it a good time for investors...Narrative Update • Mar 19
CNM: Higher Revenue Assumptions Will Support A More Attractive Return Profile
Analysts have made a modest upward adjustment to their Core & Main price target to $61.06. This reflects updated views on revenue growth, profit margins and future P/E assumptions.Narrative Update • Mar 05
CNM: Buybacks And Active M&A Pipeline Will Drive Future Upside
Analysts have maintained their $75.00 price target for Core & Main. They point to slightly adjusted assumptions for discount rate, revenue growth, profit margin, and future P/E that largely offset one another in their updated models.Narrative Update • Feb 19
CNM: Expanded Buybacks And M&A Pipeline Will Support Future Upside
Analysts have nudged their price target on Core & Main to $75.00, citing updated assumptions that pair slightly lower revenue growth with a modestly higher profit margin outlook and a small adjustment to the projected P/E multiple. What's in the News Core & Main plans to continue pursuing M&A, with management highlighting a robust pipeline of acquisition and greenfield opportunities and pointing to recent expansion into the approximately US$5b Canadian market (earnings call).Narrative Update • Feb 04
CNM: Future M&A And Buybacks Will Still Leave Shares Overvalued
Analysts have nudged their price target for Core & Main to about $45.82 from roughly $45.14, citing updated assumptions that include slightly higher revenue growth, a modestly wider profit margin, a lower discount rate and a somewhat lower future P/E multiple. What's in the News Core & Main is actively pursuing M&A, with management highlighting a pipeline of acquisition and greenfield opportunities and plans to use its balance sheet for deals alongside investments in organic growth and share repurchases (earnings call).Analysis Article • Feb 02
Estimating The Fair Value Of Core & Main, Inc. (NYSE:CNM)
Key Insights Using the 2 Stage Free Cash Flow to Equity, Core & Main fair value estimate is US$52.91 With US$53.36...Narrative Update • Jan 21
CNM: Buybacks And M&A Pipeline Will Shape Balanced Future Return Profile
Analysts have raised their price target on Core & Main by about $1.44 to approximately $61.06, reflecting updated views on fair value, discount rate, revenue growth, profit margins, and future P/E assumptions. What's in the News Management highlighted that Core & Main is actively pursuing M&A opportunities, supported by what it describes as strong free cash flow and returns on invested capital, and pointed to recent expansion into the approximately $5b Canadian market as part of this approach (earnings call).Narrative Update • Jan 07
CNM: Future M&A And Buybacks Will Not Offset Overvaluation Risk
Analysts have lifted their fair value estimate for Core & Main from $42.38 to $45.14. They point to slightly lower revenue growth assumptions, a higher profit margin outlook, and a modestly reduced future P/E expectation as key drivers of the updated target.Narrative Update • Dec 17
CNM: Expanded Buybacks Will Support Stronger Long Term Share Performance
Analysts have modestly trimmed their price target on Core & Main, reducing fair value from approximately $77.00 to about $75.00 per share, as they factor in slower revenue growth expectations, partly offset by slightly stronger profit margins and a marginally lower future earnings multiple. What's in the News Core & Main reaffirmed full year fiscal 2025 guidance, targeting net sales of $7.6 billion to $7.7 billion, implying 2% to 3% net sales growth and 4% to 5% average daily sales growth (company guidance).Narrative Update • Dec 03
CNM: Ongoing Share Repurchases Will Drive Future Bullish Price Momentum
Analysts have nudged their price target on Core & Main slightly lower to approximately $59.63 per share from about $59.75. This reflects marginally softer assumptions for fair value and future earnings multiples, despite largely unchanged views on growth and profitability.Analysis Article • Nov 26
Core & Main, Inc.'s (NYSE:CNM) Shareholders Might Be Looking For Exit
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 18x, you may...Narrative Update • Nov 13
CNM: Continued Share Buybacks Will Support Bullish Momentum Going Forward
Narrative Update: Core & Main Analyst Price Target Adjustment Analysts have maintained their fair value price target for Core & Main at $59.75. This reflects continued confidence as only minor adjustments were made to underlying estimates and assumptions.Analysis Article • Nov 10
Is There Now An Opportunity In Core & Main, Inc. (NYSE:CNM)?
Let's talk about the popular Core & Main, Inc. ( NYSE:CNM ). The company's shares saw significant share price movement...Narrative Update • Oct 30
CNM: Share Repurchases And Guidance Revision Will Drive Bullish Momentum
Analysts have reaffirmed their price target for Core & Main at $59.75. This decision is supported by stable projections for revenue growth and profit margins, as well as a slight reduction in the estimated discount rate.Narrative Update • Oct 16
New Locations And Acquisitions Will Extend Geographic Reach
Analysts have slightly raised their price target for Core & Main from $59.00 to $59.75. This reflects minor adjustments in growth, profitability, and valuation expectations.Narrative Update • Sep 26
New Locations And Acquisitions Will Extend Geographic Reach
Despite modest improvements in both revenue growth and net profit margin forecasts, the consensus analyst price target for Core & Main remained effectively unchanged, dipping slightly from $59.64 to $59.00. What's in the News Core & Main lowered its fiscal 2025 earnings guidance, revising net sales expectations to $7.6–$7.7 billion, with net sales growth of 2%–3% and average daily sales growth of 4%–5%.Narrative Update • Sep 11
New Locations And Acquisitions Will Extend Geographic Reach
Core & Main’s consensus price target has been revised downward, primarily reflecting weaker projected revenue growth and a decline in net profit margins, resulting in a new fair value estimate of $59.64. What's in the News Core & Main lowered its fiscal 2025 earnings guidance, now expecting net sales of $7.6 to $7.7 billion, representing 2% to 3% net sales growth and 4% to 5% average daily sales growth.Narrative Update • Aug 27
New Locations And Acquisitions Will Extend Geographic Reach
A modest decrease in Core & Main's forward P/E ratio suggests a slight improvement in relative valuation, which supports the marginal increase in the consensus analyst price target from $64.50 to $65.21. What's in the News Completed repurchase of 4,382,092 shares (2.29% of shares outstanding) for $194.16 million under the announced buyback program.Seeking Alpha • Mar 29
Core & Main: Rating Downgrade On Uncertain FY25 Outlook
Summary I downgraded Core & Main to hold due to macro uncertainty and a soft FY25 outlook, despite Q4-24 results being in line. Organic growth stalled with just 1.5% y/y in Q4-24; FY25 revenue guidance implies only 2-5% growth, significantly lower than FY24's 11%. Elevated SG&A costs from recent acquisitions hinder margin expansion, making earnings growth reliant on cost reductions, which seems unlikely. CNM's valuation at 12x forward EBITDA lacks a margin of safety given the uncertain macro environment and potential for further downside. Read the full article on Seeking AlphaSeeking Alpha • Feb 25
Core & Main: Good Growth Prospects And Attractively Valued
Summary Core & Main, Inc. has strong growth prospects due to aging infrastructure, reshoring trends, and a recovering residential market as interest rates decline. The company's margin outlook is positive, with expected pricing improvements in 2025 and SG&A leverage from increased volumes, supporting a buy rating. CNM's valuation is attractive compared to high-quality distributor peers, with potential for re-rating as it continues to execute well and achieve solid EPS growth. Read the full article on Seeking AlphaSeeking Alpha • Dec 04
Core & Main: Despite A Stellar Quarter, Market-Beating Upside Is Unlikely
Summary Core & Main's Q3 2024 results exceeded expectations, with revenue up 11.5% to $2.04 billion and EPS rising from $0.65 to $0.69. Despite strong performance, mixed cash flow metrics and high valuation justify maintaining a 'hold' rating for the stock. Management's commitment to growth is evident with 10 acquisitions this year, aiming for 2-4% annual organic and acquisition-driven revenue growth. While long-term prospects are promising, shares are not cheap enough to warrant a buy, even if relatively cheaper compared to peers. Read the full article on Seeking Alpha
New Narrative • Sep 24
Critical Growth And Smart Acquisitions Set To Boost Market Presence And Profitability
Strategic acquisitions and smart utility solutions focus, such as advanced metering, position the company for above-market revenue growth and technological differentiation.CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Aug 02 2026 | n/a | n/a | US$459m |
| May 03 2026 | n/a | n/a | US$449m |
| Feb 01 2026 | US$9m | US$787k | US$441m |
| Nov 02 2025 | n/a | n/a | US$435m |
| Aug 03 2025 | n/a | n/a | US$431m |
| May 04 2025 | n/a | n/a | US$416m |
| Feb 02 2025 | US$2m | US$610k | US$411m |
| Oct 27 2024 | n/a | n/a | US$410m |
| Jul 28 2024 | n/a | n/a | US$389m |
| Apr 28 2024 | n/a | n/a | US$380m |
| Jan 28 2024 | US$2m | US$559k | US$371m |
| Oct 29 2023 | n/a | n/a | US$362m |
| Jul 30 2023 | n/a | n/a | US$361m |
| Apr 30 2023 | n/a | n/a | US$366m |
| Jan 29 2023 | US$2m | US$522k | US$366m |
| Oct 30 2022 | n/a | n/a | US$359m |
| Jul 31 2022 | n/a | n/a | US$311m |
| May 01 2022 | n/a | n/a | US$176m |
| Jan 30 2022 | US$1m | US$478k | US$90m |
| Oct 31 2021 | n/a | n/a | US$44m |
| Aug 01 2021 | n/a | n/a | US$2m |
| May 02 2021 | n/a | n/a | US$40m |
| Jan 31 2021 | US$763k | US$397k | US$37m |
Compensation vs Market: Mark's total compensation ($USD9.33M) is about average for companies of similar size in the US market ($USD8.41M).
Compensation vs Earnings: Mark's compensation has increased by more than 20% in the past year.
CEO
Mark Witkowski (51 yo)
1.5yrs
Tenure
US$9,327,106
Compensation
Mr. Mark R. Witkowski had been the Chief Financial Officer of Core & Main, Inc. since April 2021 until March 31, 2025 and also serves as its Chief Executive Officer and Director since March 31, 2025. He ha...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 1.5yrs | US$9.33m | 0.011% $ 867.9k | |
| President | 3.8yrs | US$4.56m | 0.0071% $ 577.5k | |
| President | 2.2yrs | US$3.65m | 0.0051% $ 419.3k | |
| Chief Financial Officer | 1.5yrs | US$3.57m | 0.0068% $ 553.9k | |
| Chief Accounting Officer & VP | 2.7yrs | no data | 0.0084% $ 688.4k | |
| Vice President of Investor Relations | less than a year | no data | no data | |
| General Counsel | no data | no data | no data | |
| Executive Vice President of Corporate Development | 5.4yrs | no data | 0.0012% $ 101.1k | |
| Senior Vice President of Human Resources | 1.7yrs | no data | no data | |
| Director of Investor Relations & Treasury | no data | no data | no data |
1.9yrs
Average Tenure
49.5yo
Average Age
Experienced Management: CNM's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 1.5yrs | US$9.33m | 0.011% $ 867.9k | |
| Independent Director | 5.2yrs | US$236.28k | 0.0076% $ 618.3k | |
| Independent Director | less than a year | no data | 0.00031% $ 25.3k | |
| Independent Director | 5.2yrs | US$233.79k | 0.0076% $ 618.3k | |
| Independent Chairman of the Board | 5.2yrs | US$273.67k | 0.0025% $ 205.6k | |
| Independent Director | 2.3yrs | US$228.80k | 0.0049% $ 398.9k | |
| Independent Director | 4yrs | US$236.28k | 0.0071% $ 577.5k | |
| Independent Director | 5.2yrs | US$238.77k | 0.0076% $ 618.3k | |
| Independent Director | 4.4yrs | US$228.80k | 0.0082% $ 671.3k | |
| Independent Director | 5.2yrs | US$236.28k | 0.0076% $ 618.3k |
4.8yrs
Average Tenure
60yo
Average Age
Experienced Board: CNM's board of directors are considered experienced (4.8 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/17 21:51 |
| End of Day Share Price | 2026/09/17 00:00 |
| Earnings | 2026/08/02 |
| Annual Earnings | 2026/02/01 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Core & Main, Inc. is covered by 20 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| David Manthey | Baird |
| Matthew Bouley | Barclays |
| Daniel Wang | Berenberg |