Core & Main (CNM) Operating Margin (2020 - 2026)
Core & Main (CNM) posted quarterly Operating Margin of 9.27% for Q2 2026, up 32.0% year-over-year from 7.02% in Q2 2025, and up 24.16% quarter-over-quarter from 7.46% in Q1 2026.
Core & Main (CNM) Operating Margin (2020 - 2026) Analysis & Trends
Core & Main's Operating Margin history runs 7 years deep, the most recent figure standing at 9.27% for Q2 2026.
- In Q2 2026, Operating Margin rose 32.0% year-over-year to 9.27%; the TTM figure through May 2026 stood at 9.52% (up 4.0% YoY), while the FY2026 annual figure was 9.44%, down 22.0% from the prior year.
- Operating Margin for Q2 2026 stood at 9.27%, up from 7.46% in the prior quarter.
- The five-year high for Operating Margin was 12.87% in Q4 2022, with the low at 7.3% in Q1 2025.
- The 5-year median for Operating Margin is 10.28% (2025), against an average of 10.17%.
- The sharpest annual moves came in 2022 and 2024: Operating Margin surged 503 bps in 2022, then tumbled 185 bps in 2024.
- Core & Main's Operating Margin stood at 12.87% in 2022, then fell by 8 bps to 11.88% in 2023, then decreased by 8 bps to 10.94% in 2024, then dropped by 2 bps to 10.67% in 2025, then dropped by 13 bps to 9.27% in 2026.
- Business Quant data shows CNM's Operating Margin at 9.27% in Q2 2026, 7.46% in Q1 2026, and 10.67% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | W.W. Grainger | 62.04 Bn | 61.46 Bn | 1.98 Bn | 16.07% |
| 2 | Fastenal | 59.03 Bn | 58.83 Bn | 1.06 Bn | 21.02% |
| 3 | Ferguson Enterprises | 47.99 Bn | 47.17 Bn | 2.32 Bn | 8.19% |
| 4 | Wesco International | 17.78 Bn | 16.97 Bn | 1.46 Bn | 5.73% |
| 5 | Applied Industrial Technologies | 13.25 Bn | 13.08 Bn | 380.80 Mn | 11.02% |
| 6 | Watsco | 11.97 Bn | 11.50 Bn | 578.93 Mn | 11.32% |
| 7 | Core & Main | 8.70 Bn | 8.55 Bn | 520.00 Mn | 9.27% |
| 8 | Pool | 7.21 Bn | 7.18 Bn | 540.76 Mn | 14.68% |
| 9 | Msc Industrial Direct | 6.76 Bn | 6.69 Bn | 430.41 Mn | 10.19% |
| 10 | Xometry | 5.15 Bn | 4.63 Bn | 87.15 Mn | -2.42% |
Historic Data
Download Data| Date | Value |
|---|---|
| May 3, 2026 | 9.27% |
| Feb 1, 2026 | 7.46% |
| Nov 2, 2025 | 10.67% |
| Aug 3, 2025 | 10.18% |
| May 4, 2025 | 8.95% |
| Feb 2, 2025 | 7.30% |
| Oct 27, 2024 | 10.94% |
| Jul 28, 2024 | 10.39% |
| Apr 28, 2024 | 9.65% |
| Jan 28, 2024 | 8.06% |
| Oct 29, 2023 | 11.88% |
| Jul 30, 2023 | 12.14% |
| Apr 30, 2023 | 11.50% |
| Jan 29, 2023 | 9.02% |
| Oct 30, 2022 | 12.87% |
| Jul 31, 2022 | 12.74% |
| May 1, 2022 | 11.26% |
| Jan 30, 2022 | 8.75% |
| Oct 31, 2021 | 10.46% |
| Aug 1, 2021 | 7.70% |