What is Core & Main's invested capital?

Core & Main (CNM) reported invested capital of $4.33B in Q1 2026.

How has Core & Main's invested capital changed year-over-year?

Core & Main's invested capital increased by 1.6% year-over-year, from $4.27B to $4.33B.

What is the long-term trend for Core & Main's invested capital?

Over 5 years (2020 to 2025), Core & Main's invested capital has grown at a 8.4% compound annual growth rate (CAGR), from $2.81B to $4.21B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Core & Main CNM Invested capital

Discontinued — last reported Q1 '26

Invested capital at other companies

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-13.1%-19.2pp

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13.8%—

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16.9%+8.8pp

Landstar SystemLSTR

21.3%-6.0pp

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-24.7%-8.4pp

Other financials

Income statement

See full

Revenue$1.9B-0.1%

Gross profit$520.0M+2.0%

Operating income$177.0M+3.5%

Net income$108.0M+8.0%

EPS (diluted)$0.57+9.6%

Balance sheet

See full

Cash & equivalents$150.0M+1,775%

Total debt$2.4B-3.4%

Total equity$2.0B+17.0%

Total assets$6.3B+0.7%

Cash flow

See full

Operating cash flow$82.0M+6.5%

CapEx$14.0M+7.7%

Free cash flow$68.0M+6.3%

Valuation

See full

Market cap$9.09B-4.9%

Enterprise value$11.39B-5.7%

P/E20.3×-2.7×

P/S1.2×-0.1×

Profitability

See full

Gross margin27.1%+0.5pp

Operating margin9.5%0.0pp

Net margin5.9%+0.4pp

FCF margin8%+0.3pp

Returns & leverage

See full

Return on equity23.7%-1.4pp

Debt / equity1.2×-0.3×

Current ratio2.3×+0.4×

Where this comes from

Calculated from Core & Main’s reported figures.

$2.4Btotal debt+$2.0Btotal stockholders equity−$150.0Mcash and equivalents=$4.33B

The official record: Core & Main’s 10-Q, filed June 10, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Core & Main's invested capital?: Core & Main (CNM) reported invested capital of $4.33B in Q1 2026.
How has Core & Main's invested capital changed year-over-year?: Core & Main's invested capital increased by 1.6% year-over-year, from $4.27B to $4.33B.
What is the long-term trend for Core & Main's invested capital?: Over 5 years (2020 to 2025), Core & Main's invested capital has grown at a 8.4% compound annual growth rate (CAGR), from $2.81B to $4.21B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).