What is Core & Main, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Core & Main, Inc.'s reported free cash flow gives $90.06 per share. The share price was $42.64 on September 25, 2026, 53% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $50.48 | +18% |
| Base | 15.0% | 9.0% | $90.06 | +111% |
| Bull | 20.0% | 8.0% | $163.75 | +284% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $120.02 | $129.36 | $140.78 | $155.06 | $173.41 |
| 8.0% | $97.51 | $103.57 | $110.73 | $119.32 | $129.82 |
| 9.0% | $81.13 | $85.28 | $90.06 | $95.63 | $102.22 |
| 10.0% | $68.72 | $71.66 | $75.00 | $78.82 | $83.22 |
| 11.0% | $59.00 | $61.16 | $63.57 | $66.29 | $69.37 |
Where the presets come from
Base: years 1 to 5 grow at Core & Main, Inc.'s revenue growth rate over the last 5 fiscal years (16.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions