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DCF Valuation
Base-case fair value
$68.45
Intrinsic $91.27 · 25% MOS
Base-case summary
Our base-case DCF for Core & Main, Inc. (CNM) projects 10 years of free cash flow growth at 12.8% for years 1–5 and 6.4% for years 6–10, anchored to 12.8% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $608M in trailing free cash flow, this produces an intrinsic value of $91.27 per share. A 25% safety margin gives a fair value of $68.45.
See 3 scenarios side by side
Conservative, Base, and Optimistic fair values, plus the sensitivity matrix and FCF history. Free account.
Model inputs
TTM Free Cash Flow
$608M
Cash & equivalents
$150M
Total debt
$2.4B
Shares outstanding
196M