NASDAQ · STOCK
Core & Main
$43.90
52W $41.88 – $67.18
55/100
$8.23B
18.5
0.91
Is CNM Bullish or Bearish?
Mixed.
Innellis AI committee rates Core & Main (CNM) Watch with a composite score of 55/100
, based on 6 analysts with 67% agreement.
Last updated July 31, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +5.06 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -14.94 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
Some positive signals exist — 4 consecutive earnings beats -- consistent execution — but they are not yet strong enough to justify a Buy. The committee is monitoring for confirmation.
Bull & Bear Case
Bull Case
- ROE of 22.7% shows genuine earnings power backing the valuation — Value
- 4 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- Market regime is bullish (Bull market -- normal position sizing) — Macro
Bear Case
- Price-to-book of 5.3x prices in significant intangible value — Value
- Price structure making lower highs and lower lows — Technical
- MACD histogram negative -- bearish momentum — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of July 31, 2026
Overall Committee Score
55/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 44%
of 158 Industrials peers
Value Analyst
neutral
55
/ 100 · Moderate confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 22.7% shows genuine earnings power backing the valuation
− Price-to-book of 5.3x prices in significant intangible value
Growth Analyst
bullish
68
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ 4 consecutive earnings beats -- consistent execution
Technical Analyst
neutral
42
/ 100 · High confidence
Mixed or range-bound price action
− Price structure making lower highs and lower lows
Macro Analyst
neutral
58
/ 100 · Moderate confidence
Macro backdrop is mixed or neutral -- not a strong tailwind or headwind either way
+ Market regime is bullish (Bull market -- normal position sizing)
News Analyst
bullish
62
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 2744.14)
Investment Thesis Evolution
Committee score moved marginally from 56.3 to 54.9.
- Recommendation changed from Buy to Watch.
- Conviction changed from contested to moderate.
- Committee agreement increased notably from 50% to 67%.
- New bearish signals: 2 appeared.
- Bullish support removed: 1 signal(s) disappeared.
- New bullish signals: 1 appeared.
- Bearish pressure eased: 3 signal(s) disappeared.
- Analyst(s) changed stance: Macro Analyst.
Analyst-level changes:
- Macro Analyst: stance bullish->neutral; score 65->58 (-8); +1 bullish signal(s).
- Portfolio Manager: +2 bearish signal(s).
Comparing 2026-07-30 to 2026-07-31 (1 day apart).
Technical Analysis
RSI (14)
48.2
Neutral
MACD Histogram
0.056
Bullish Momentum
Trend Direction
Downtrend
Weekly: Sideways
Market Structure
Mixed
Support
$43.24
Resistance
$53.80
Bollinger %B
0.37
Inside Bands
Price vs Moving Averages
EMA 9
$43.72
Above
EMA 21
$44.60
Below
EMA 50
$46.32
Below
EMA 200
$50.11
Below
Fundamental Analysis
Valuation
53
Growth
85
Profitability
1
Financial Health
83
Cash Flow
37
Valuation
P/E Ratio
18.5×
P/B Ratio
4.06×
PEG Ratio
2.75
Dividend Yield
0.00%
52W High
$67.18
52W Low
$41.88
Quality & Growth
ROE
22.1%
ROA
7.2%
Gross Margin
27.1%
Operating Margin
9.5%
Revenue Growth YoY
—
Debt / Equity
1.20
AI Fundamental Assessment
P/E ratio of 18.5 (inexpensive relative to a 15-40x range); Price-to-book of 4.1x; PEG ratio of 2.7 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 0.2%; Return on assets of 0.1%; Net margin of 0.1%; Gross margin of 0.3%; Current ratio of 2.31 (healthy short-term liquidity); Debt-to-equity of 1.20; Free cash flow margin of 0.9% (thin cash generation); Free cash flow per share is positive (3.23); Most recent quarter beat estimates by 6.6%; 4 consecutive earnings beats; EPS growth accelerating (-41.6% -> +38.5% QoQ); Average YoY EPS growth of 38.5%; Analyst estimates falling over recent quarters
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