Core & Main Inc (CNM) is undervalued and W.W. Grainger Inc (GWW) is overvalued.
Against our estimates of intrinsic value, CNM trades at the wider discount: a margin of safety of +26%, against -101% for GWW.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.6% (average of 3 methods) values the shares at $58.43; the price of $43.01 is 26% below that value, and 78% of that value comes from beyond year five.
Leak Score 84/100 on 3 of 12 signals
Discounting its cash flows at 9.8% (average of 3 methods) values the shares at $631.74; the price of $1268.62 is 101% above that value, and 73% of that value comes from beyond year five.
Leak Score 63/100 on 10 of 12 signals
| Metric | CNM | GWW |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $43.01 | $1268.62 |
| Intrinsic value | $58.43 | $631.74 |
| Margin of safety | +26% | -101% |
| Leak Score | 84/100 (3/12) | 63/100 (10/12) |
| Market cap | $8.2B | $59.8B |
| Revenue growth, 5 years | 16.0% | 8.8% |
| Operating margin | 9.7% | 15.6% |
| Net margin | 6.0% | 9.9% |
| Return on equity | 23.4% | 47.9% |
| Debt to equity | 1.35 | 0.68 |
| P/E | 17.8x | 32.2x |
| Forward P/E | 12.6x | 24.8x |
| P/B | 3.9x | 14.5x |
| Dividend yield | — | 0.8% |