Core & Main distributes water, wastewater, storm drainage and fire protection products to municipal and contractor customers, a business built on the repair and replacement of aging pipe networks rather than new construction. Its scale in that niche is the moat: a national branch footprint and a broad catalogue make it hard for smaller regional distributors to match on availability and delivery times, and that density supports a 27.0% gross margin and a 23.6% ROE. The structural tailwind is underground infrastructure spending that has to happen regardless of the rate cycle, though the stock's near-term story depends on volume recovery after a soft stretch, since revenue growth is only 2.5%. At 17.2 times earnings with a market cap of about 7.7 billion dollars, the valuation is not stretched for a business with these returns, so the question for a PM is whether operating margin of 10.6% can widen as volumes firm. That is the piece of the work worth doing before deciding whether it earns a deeper look.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 24 Oct 2026, 17:04 CEST | Rating | Fairly valued | first publication | $41.97 |
| 24 Oct 2026, 17:04 CEST | Fair value | $46.31 | $70.62 | $41.97 |
| 17 Oct 2026, 00:00 CEST | Fair value | $70.62 | $69.65 | $41.79 |
| 12 Oct 2026, 00:00 CEST | Fair value | $69.65 | $52.09 | $40.35 |
| 10 Oct 2026, 00:00 CEST | ACCE price target | $40.00 | first publication | $40.37 |
| 1 Oct 2026, 00:00 CEST | Fair value | $52.09 | $52.69 | $41.66 |
| 28 Sept 2026, 00:00 CEST | Fair value | $52.69 | $52.15 | $42.64 |
| 20 Sept 2026, 00:00 CEST | Fair value | $52.15 | $55.42 | $42.61 |
| 18 Sept 2026, 00:00 CEST | Fair value | $55.42 | $52.32 | $42.82 |
| 15 Sept 2026, 00:00 CEST | Fair value | $52.32 | $49.19 | $40.62 |
Answered from Core & Main Inc. Class A Common Stock fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| CNM Core & Main Inc. Class A Common Stock | $41.97 | $46 | 9% below | 17.4x | 23.6% | 61 | 49 |
| BEIJ-B.ST Beijer Ref AB (publ) | kr 153.70 | kr 91 | 69% above | 31.2x | 10.5% | 59 | 57 |
| REH.AX Reece Limited | A$17.42 | A$13 | 38% above | 34.8x | 7.9% | 52 | 62 |
| ADDT-B.ST Addtech AB (publ.) | kr 300.20 | kr 175 | 71% above | 35.1x | 26.9% | 69 | 46 |
| POOL Pool Corporation Common Stock | $199.08 | $190 | 5% above | 18.3x | 31.3% | 73 | 43 |
| FTT.TO Finning International Inc. | C$96.52 | C$69 | 39% above | 23.1x | 19.3% | 53 | 57 |
| INDT.ST Indutrade AB (publ) | kr 247.60 | kr 161 | 53% above | 33.6x | 15.7% | 64 | 59 |
Where CNM ranks against its sector peers on each metric.