Core & Main - Public Comps and Valuation Multiples

Core & Main Overview

About Core & Main

Core & Main is a leading specialty distributor with a focus on water, wastewater, storm drainage, and fire protection products. The company provides solutions to municipalities, private water companies, and professional contractors across municipal, nonresidential, and residential end markets. The company’s specialty products and services are used in the maintenance, repair, replacement, and construction of water and fire protection infrastructure.

Founded

2017

HQ

Employees

5.7K+

Website

coreandmain.com

Sectors

Wholesale Distribution

Financials

LTM Revenue $7.6B

LTM EBITDA $928M

EV

$12.6B

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Core & Main Financials

As of September 2025, Core & Main reported last 12-month revenue of $7.6B and EBITDA of $928M.

In the same period, Core & Main generated $2.0B in LTM gross profit and $436M in net income.

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Core & Main P&L

In the most recent fiscal year, Core & Main reported revenue of $7.4B and EBITDA of $913M.

Core & Main expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$7.6B	XXX	$7.4B	XXX	XXX	XXX
Gross Profit	$2.0B	XXX	$2.0B	XXX	XXX	XXX
Gross Margin	27%	XXX	27%	XXX	XXX	XXX
EBITDA	$928M	XXX	$913M	XXX	XXX	XXX
EBITDA Margin	12%	XXX	12%	XXX	XXX	XXX
EBIT	$729M	XXX	$719M	XXX	XXX	XXX
EBIT Margin	10%	XXX	10%	XXX	XXX	XXX
Net Profit	$436M	XXX	$411M	XXX	XXX	XXX
Net Margin	6%	XXX	6%	XXX	XXX	XXX
Net Debt	XXX	XXX	$2.3B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Core & Main including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $7.6B. EBITDA for the last twelve months was $928M. In the most recent fiscal year, Core & Main achieved $7.4B in revenue and $913M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$7.6B	Analyst estimates available to subscribers	$7.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$2.0B	Analyst estimates available to subscribers	$2.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	26.7% gross margin	Analyst estimates available to subscribers	26.6% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$928M	Analyst estimates available to subscribers	$913M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	12.2% EBITDA margin	Analyst estimates available to subscribers	12.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$729M	Analyst estimates available to subscribers	$719M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	9.6% EBIT margin	Analyst estimates available to subscribers	9.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$436M	Analyst estimates available to subscribers	$411M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	5.7% net profit margin	Analyst estimates available to subscribers	5.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$2.3B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Core & Main

This financial data table provides comprehensive performance metrics for Core & Main, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Core & Main generated $7.6B in revenue over the last twelve months.
The company achieved $928M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $2.0B.
Net income over the last twelve months reached $436M.

Fiscal Year Performance

In the most recent fiscal year, Core & Main reported $7.4B in total revenue.
Fiscal year EBITDA was $913M.
The company maintained a gross profit margin of 26.6% in the most recent fiscal year.
EBITDA margin for the fiscal year was 12.3%.
Net profit margin reached 5.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Core & Main. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Core & Main Stock Performance

Core & Main has current market cap of $10.1B, and EV of $12.6B.

Market Cap Evolution

Core & Main Stock Data

As of October 3, 2025, Core & Main's stock price is $53.

See Core & Main trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$12.6B	$10.1B	XXX	XXX	XXX	XXX	$2.24

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Core & Main Valuation Multiples

Core & Main's trades at 1.7x EV/Revenue multiple, and 13.9x EV/EBITDA.

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Core & Main Financial Valuation Multiples

As of October 3, 2025, Core & Main has market cap of $10.1B and EV of $12.6B.

Equity research analysts estimate Core & Main's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Core & Main has a P/E ratio of 23.2x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$10.1B	XXX	$10.1B	XXX	XXX	XXX
EV (current)	$12.6B	XXX	$12.6B	XXX	XXX	XXX
EV/Revenue	1.7x	XXX	1.7x	XXX	XXX	XXX
EV/EBITDA	13.6x	XXX	13.9x	XXX	XXX	XXX
EV/EBIT	17.3x	XXX	17.5x	XXX	XXX	XXX
EV/Gross Profit	6.2x	XXX	n/a	XXX	XXX	XXX
P/E	23.2x	XXX	24.9x	XXX	XXX	XXX
EV/FCF	22.8x	XXX	20.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Core & Main Margins & Growth Rates

Core & Main's last 12 month revenue growth is 4%

Core & Main's revenue per employee in the last FY averaged $1.3M, while opex per employee averaged $0.2M for the same period.

Core & Main's rule of 40 is 16% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Core & Main's rule of X is 22% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Core & Main Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	4%	XXX	4%	XXX	XXX	XXX
EBITDA Margin	12%	XXX	12%	XXX	XXX	XXX
EBITDA Growth	5%	XXX	4%	XXX	XXX	XXX
Rule of 40	16%	XXX	16%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	22%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$1.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	17%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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