What is Core & Main's net debt?

Core & Main (CNM) reported net debt of $2.29B in Q1 2026.

How has Core & Main's net debt changed year-over-year?

Core & Main's net debt decreased by 9.0% year-over-year, from $2.52B to $2.29B.

What is the long-term trend for Core & Main's net debt?

Over 5 years (2020 to 2025), Core & Main's net debt has grown at a 1.9% compound annual growth rate (CAGR), from $2.01B to $2.22B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Core & Main CNM Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

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-8.1×-18.6×

Axalta Coating SystemsAXTA

2.5×-0.2×

Zillow Group, Inc.ZG

-2.1×-4.3×

Federal SignalFSS

1.1×+0.4×

Clearwater AnalyticsCWAN

7.3×+5.0×

Protagonist TherapeuticsPTGX

-5.1×—

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−$150.0Mcash and equivalents=$2.29B

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 net debt?: Core & Main (CNM) reported net debt of $2.29B in Q1 2026.
How has Core & Main's net debt changed year-over-year?: Core & Main's net debt decreased by 9.0% year-over-year, from $2.52B to $2.29B.
What is the long-term trend for Core & Main's net debt?: Over 5 years (2020 to 2025), Core & Main's net debt has grown at a 1.9% compound annual growth rate (CAGR), from $2.01B to $2.22B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.