How Core & Main makes money

Period

FY2025

How does Core & Main make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Core & Main Inc. · FY2025 · year ended 2026-02-01

Revenue$7.6BGross profit$2.1B · 27%Cost of revenue$5.6B · 73%Operating income$722M · 9%Operating expenses$1.3B · 17%SG&A$1.2B · 15%Other opex$183M · 2%Pre-tax income$586M · 8%Other expense$136M · 2%Net income$441M · 6%Income tax$145M · 2%Pipes Valves & Fitting Products$5.1B · 67%Storm Drainage Products$1.2B · 16%Meter Products$716M · 9%Fire Protection Products$600M · 8%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.