Core & Main, Inc. (CNM) Balance Sheet

NYSE: CNMAssets, liabilities, debt and equity over 7 years.

CNM balance sheet, FY2026

January 31, 2026 · U.S. dollars

$6.08B assets = $4.01B liabilities + $2.07B equity

Both columns are drawn to the same scale: what CNM owns equals what it owes plus shareholders’ equity. Hover a block for its value.

CNM financial health

Current ratio2.63

Comfortable · current assets cover current liabilities 2.63×

Debt / equity1.22

Moderate leverage · $1.22 of debt for each $1 of equity

Equity / assets32.8%

Balanced · of assets funded by shareholders

Cash / debt9.0%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles45.1%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal FY2026.

CNM balance sheet trends, FY2020–FY2026

Core & Main, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$3.20BFY2020	$6.08BFY2026	+11.3%/yr
Total liabilities	$2.56BFY2020	$4.01BFY2026	+7.8%/yr
Shareholders’ equity	$641.5MFY2020	$2.00BFY2026	+20.8%/yr
Cash & short-term investments	$180.9MFY2020	$220.0MFY2026	+3.3%/yr
Total debt	$2.15BFY2020	$2.44BFY2026	+2.1%/yr
Net cash (debt)	−$1.97BFY2020	−$2.22BFY2026	−$250.4M
Working capital	$607.7MFY2020	$1.43BFY2026	+$820.3M
Book value per share	$2.67FY2020	$10.09FY2026	+24.8%/yr
Current ratio	2.41FY2020	2.63FY2026	+0.22
Debt / equity	3.35FY2020	1.22FY2026	−2.13
Shares outstanding	240.7MFY2020	197.9MFY2026	−3.2%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

CNM assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

CNM liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

CNM debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

CNM balance sheet

Core & Main, Inc. annual balance sheet
	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Assets
Cash & short-term investments	$220.0M	$8.0M	$1.0M	$177.0M	$1.0M	$380.9M	$180.9M
Cash & equivalents	$220.0M	$8.0M	$1.0M	$177.0M	$1.0M	$380.9M	$180.9M
Receivables	$1.05B	$1.07B	$973.0M	$955.0M	$884.0M	$557.0M	$504.0M
Inventory	$986.0M	$908.0M	$766.0M	$1.05B	$856.0M	$383.8M	$336.1M
Other current assets	$48.0M	$43.0M	$33.0M	$32.0M	$26.0M	$15.4M	$17.1M
Total current assets	$2.30B	$2.02B	$1.77B	$2.21B	$1.77B	$1.34B	$1.04B
Property, plant & equipment (net)	$465.0M	$412.0M	$343.0M	$280.0M	$246.0M	$214.7M	$210.9M
Goodwill & intangible assets	$2.74B	$2.83B	$2.35B	$2.33B	$2.39B	$2.37B	$1.95B
Long-term investments	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$575.0M	$600.0M	$608.0M	$88.0M	$35.0M	$200,000	$2.1M
Total assets	$6.08B	$5.87B	$5.07B	$4.91B	$4.43B	$3.92B	$3.20B
Liabilities
Accounts payable	$512.0M	$562.0M	$504.0M	$479.0M	$608.0M	$326.0M	$267.6M
Short-term debt	$99.0M	$91.0M	$70.0M	$69.0M	$64.0M	$56.0M	$52.8M
Deferred revenue	—	—	—	$9.0M	—	$118.8M	$94.0M
Total current liabilities	$874.0M	$866.0M	$774.0M	$726.0M	$839.0M	$522.0M	$430.4M
Long-term debt	$2.12B	$2.24B	$1.86B	$1.44B	$1.46B	$2.25B	$2.01B
Lease obligations	$289.0M	$245.0M	$193.0M	$175.0M	$152.0M	$128.7M	$123.4M
Other long-term liabilities	$1.01B	$993.0M	$908.0M	$329.0M	$308.0M	$349.3M	$116.4M
Total liabilities	$4.01B	$4.10B	$3.54B	$2.50B	$2.60B	$3.12B	$2.56B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$3.0M	$3.0M	$801.0M	$641.5M
Retained earnings (deficit)	$755.0M	$449.0M	$189.0M	$458.0M	$92.0M	$0	—
Accumulated other comprehensive income	−$6.0M	$27.0M	$46.0M	$45.0M	$16.0M	−$71.8M	−$48.9M
Minority interest	$77.0M	$76.0M	$73.0M	$663.0M	—	—	—
Total shareholders' equity	$2.00B	$1.70B	$1.45B	$1.75B	$1.32B	$801.0M	$641.5M
Key figures
Total debt	$2.44B	$2.51B	$2.07B	$1.63B	$1.62B	$2.39B	$2.15B
Net cash (debt)	−$2.22B	−$2.50B	−$2.07B	−$1.46B	−$1.62B	−$2.01B	−$1.97B
Working capital	$1.43B	$1.16B	$999.0M	$1.49B	$928.0M	$815.1M	$607.7M
Tangible book value	−$746.0M	−$1.14B	−$894.0M	−$583.0M	−$1.06B	−$1.57B	−$1.31B
Book value per share	$10.09	$8.44	$6.37	$7.10	$5.42	$3.33	$2.67
Shares outstanding	197.9M	201.2M	227.8M	246.2M	244.5M	240.7M	240.7M
Current ratio	2.63	2.34	2.29	3.05	2.11	2.56	2.41
Quick ratio	1.45	1.24	1.26	1.56	1.05	1.80	1.59
Debt / equity	1.22	1.48	1.43	0.94	1.22	2.99	3.35
Equity / assets	32.8%	28.9%	28.6%	35.6%	29.9%	20.4%	20.1%

Core & Main, Inc. quarterly balance sheet
	Jul '26	Apr '26	Jan '26	Oct '25	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24	Apr '24	Jan '24	Oct '23
Assets
Cash & short-term investments	$312.0M	$150.0M	$220.0M	$89.0M	$25.0M	$8.0M	$8.0M	$10.0M	$13.0M	$30.0M	$1.0M	$101.0M
Cash & equivalents	$312.0M	$150.0M	$220.0M	$89.0M	$25.0M	$8.0M	$8.0M	$10.0M	$13.0M	$30.0M	$1.0M	$101.0M
Receivables	$1.44B	$1.26B	$1.05B	$1.34B	$1.36B	$1.32B	$1.07B	$1.38B	$1.29B	$1.20B	$973.0M	$1.22B
Inventory	$1.14B	$1.10B	$986.0M	$1.02B	$1.06B	$1.07B	$908.0M	$950.0M	$959.0M	$945.0M	$766.0M	$824.0M
Other current assets	$49.0M	$45.0M	$48.0M	$60.0M	$72.0M	$48.0M	$43.0M	$43.0M	$52.0M	$48.0M	$33.0M	$31.0M
Total current assets	$2.94B	$2.56B	$2.30B	$2.51B	$2.51B	$2.44B	$2.02B	$2.38B	$2.32B	$2.22B	$1.77B	$2.17B
Property, plant & equipment (net)	$489.0M	$481.0M	$465.0M	$455.0M	$450.0M	$439.0M	$412.0M	$387.0M	$369.0M	$366.0M	$343.0M	$326.0M
Goodwill & intangible assets	$2.68B	$2.71B	$2.74B	$2.77B	$2.77B	$2.80B	$2.83B	$2.85B	$2.80B	$2.82B	$2.35B	$2.33B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$603.0M	$574.0M	$575.0M	$573.0M	$581.0M	$595.0M	$600.0M	$599.0M	$614.0M	$636.0M	$608.0M	$236.0M
Total assets	$6.71B	$6.32B	$6.08B	$6.30B	$6.31B	$6.28B	$5.87B	$6.21B	$6.10B	$6.04B	$5.07B	$5.07B
Liabilities
Accounts payable	$815.0M	$814.0M	$512.0M	$734.0M	$758.0M	$923.0M	$562.0M	$782.0M	$738.0M	$777.0M	$504.0M	$646.0M
Short-term debt	$96.0M	$101.0M	$99.0M	$98.0M	$97.0M	$94.0M	$91.0M	$86.0M	$84.0M	$84.0M	$70.0M	$69.0M
Deferred revenue	—	—	—	—	—	—	—	—	—	—	—	$100.0M
Total current liabilities	$1.19B	$1.11B	$874.0M	$1.11B	$1.12B	$1.25B	$866.0M	$1.11B	$1.01B	$1.04B	$774.0M	$921.0M
Long-term debt	$2.43B	$2.12B	$2.12B	$2.13B	$2.23B	$2.24B	$2.24B	$2.38B	$2.40B	$2.40B	$1.86B	$1.44B
Lease obligations	$300.0M	$300.0M	$289.0M	$281.0M	$276.0M	$266.0M	$245.0M	$221.0M	$207.0M	$206.0M	$193.0M	$184.0M
Other long-term liabilities	$983.0M	$984.0M	$1.01B	$1.01B	$993.0M	$972.0M	$993.0M	$967.0M	$962.0M	$958.0M	$908.0M	$495.0M
Total liabilities	$4.61B	$4.21B	$4.01B	$4.25B	$4.34B	$4.46B	$4.10B	$4.46B	$4.38B	$4.40B	$3.54B	$2.85B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M
Retained earnings (deficit)	$784.0M	$786.0M	$755.0M	$736.0M	$642.0M	$515.0M	$449.0M	$433.0M	$385.0M	$284.0M	$189.0M	$491.0M
Accumulated other comprehensive income	$3.0M	−$1.0M	−$6.0M	−$6.0M	−$1.0M	$7.0M	$27.0M	$23.0M	$32.0M	$63.0M	$46.0M	$49.0M
Minority interest	$73.0M	$74.0M	$77.0M	$78.0M	$76.0M	—	—	—	—	—	—	—
Total shareholders' equity	$2.03B	$2.04B	$2.00B	$1.98B	$1.89B	$1.74B	$1.70B	$1.67B	$1.64B	$1.57B	$1.45B	$1.77B
Key figures
Total debt	$2.75B	$2.44B	$2.44B	$2.43B	$2.53B	$2.53B	$2.51B	$2.63B	$2.63B	$2.63B	$2.07B	$1.64B
Net cash (debt)	−$2.44B	−$2.29B	−$2.22B	−$2.35B	−$2.51B	−$2.52B	−$2.50B	−$2.62B	−$2.62B	−$2.60B	−$2.07B	−$1.53B
Working capital	$1.75B	$1.45B	$1.43B	$1.40B	$1.39B	$1.20B	$1.16B	$1.27B	$1.31B	$1.19B	$999.0M	$1.25B
Tangible book value	−$649.0M	−$672.0M	−$746.0M	−$788.0M	−$879.0M	−$1.06B	−$1.14B	−$1.18B	−$1.15B	−$1.25B	−$894.0M	−$565.0M
Book value per share	$10.50	$10.43	$10.09	$9.99	$9.51	$8.78	$8.51	$8.31	$8.11	$7.75	$6.78	$7.87
Shares outstanding	193.4M	195.7M	197.9M	197.9M	198.3M	198.7M	199.5M	201.2M	202.7M	202.6M	213.9M	224.7M
Current ratio	2.47	2.31	2.63	2.26	2.25	1.96	2.34	2.14	2.29	2.14	2.29	2.36
Quick ratio	1.47	1.27	1.45	1.29	1.24	1.07	1.24	1.25	1.29	1.18	1.26	1.43
Debt / equity	1.35	1.20	1.22	1.23	1.34	1.45	1.48	1.57	1.60	1.68	1.43	0.92
Equity / assets	30.3%	32.3%	32.8%	31.4%	29.9%	27.8%	28.9%	26.9%	27.0%	26.0%	28.6%	34.9%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 24, 2026); data from EODHD.

CNM financial position

At the end of fiscal 2026 (January 31, 2026), Core & Main had total assets of $6.1 billion (up 3.7% from a year earlier), total liabilities of $4.0 billion and shareholders' equity of $2.0 billion. It held $220.0 million in cash and short-term investments against $2.4 billion of debt, net debt of $2.2 billion. Its current ratio was 2.63. In the latest quarter (ended July 31, 2026) total assets were $6.7 billion and equity $2.0 billion.

Related: CNM income statement, CNM cash flow statement, CNM key metrics. See the CNM stock overview for the latest quote and news.

CNM balance sheet FAQ

What are Core & Main's total assets?

Core & Main reported total assets of $6.1 billion at the end of fiscal 2026 (January 31, 2026), compared with $5.9 billion a year earlier.

How much debt does Core & Main have?

Core & Main had $2.4 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.22.

How much cash does Core & Main have?

Core & Main held $220.0 million in cash and short-term investments at the end of fiscal 2026; with $2.4 billion of debt that is net debt of $2.2 billion.

What is Core & Main's book value?

Core & Main's shareholders' equity (book value) was $2.0 billion at the end of fiscal 2026, or $10.09 per share.

What is Core & Main's current ratio?

Core & Main had current assets of $2.3 billion and current liabilities of $874.0 million, a current ratio of 2.63 (it can cover its short-term obligations).

How much goodwill does Core & Main have?

Core & Main carried $2.7 billion of goodwill and intangible assets, 45.1% of total assets, at the end of fiscal 2026.