CNM vs. SBS

Last updated Jul 11, 2026

CNM (Core & Main, Inc.) and SBS (Companhia de Saneamento Básico do Estado de São Paulo - SABESP) are both stocks. CNM operates in Industrial Distribution (Industrials), while SBS operates in Utilities - Regulated Water (Utilities). Over the past 3 years, CNM returned 13.54%/yr vs 43.96%/yr for SBS. At a 0.17 correlation, their price movements are largely independent.

Performance

CNM vs. SBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Core & Main, Inc. (CNM) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNM achieves a -11.76% return, which is significantly lower than SBS's 27.95% return.

CNM

• 1D: 1.44%
• 1M: -5.11%
• 6M: -19.02%
• YTD: -11.76%
• 1Y: -25.53%
• 3Y*: 13.54%
• 5Y*: —
• 10Y*: —

SBS

• 1D: 3.77%
• 1M: 10.99%
• 6M: 24.15%
• YTD: 27.95%
• 1Y: 59.34%
• 3Y*: 43.96%
• 5Y*: 39.23%
• 10Y*: 16.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNM vs. SBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CNM Core & Main, Inc.	-11.76%	2.08%	25.98%	109.27%	-36.35%	51.70%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	27.95%	80.60%	-4.21%	46.89%	48.42%	6.53%

Correlation

The correlation between CNM and SBS is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jul 22, 2021	0.17

Fundamentals

Market Cap CNM : $8.58B SBS : $20.71B
EPS CNM : $3.02 SBS : R$2.47
PE Ratio CNM : 15.17 SBS : 12.56
PEG Ratio CNM : 0.25 SBS : 0.24
PS Ratio CNM : 0.89 SBS : 2.77
Total Revenue (TTM) CNM : $7.65B SBS : R$38.70B
Gross Profit (TTM) CNM : $2.07B SBS : R$13.96B
EBITDA (TTM) CNM : $909.00M SBS : R$14.87B

Return for Risk

CNM vs. SBS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNM

CNM Risk / Return Rank: 16
CNM Sharpe Ratio Rank: 16
CNM Sortino Ratio Rank: 19
CNM Omega Ratio Rank: 17
CNM Calmar Ratio Rank: 14
CNM Martin Ratio Rank: 16

SBS

SBS Risk / Return Rank: 85
SBS Sharpe Ratio Rank: 89
SBS Sortino Ratio Rank: 86
SBS Omega Ratio Rank: 83
SBS Calmar Ratio Rank: 82
SBS Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNM vs. SBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Core & Main, Inc. (CNM) and Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CNM	SBS	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	1.76	-2.41
Sortino ratio: Return per unit of downside risk	-0.65	2.46	-3.11
Omega ratio: Gain probability vs. loss probability	0.90	1.29	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.78	2.30	-3.08
Martin ratio: Return relative to average drawdown	-1.20	6.32	-7.52

CNM vs. SBS - Sharpe Ratio Comparison

The current CNM Sharpe Ratio is -0.65, which is lower than the SBS Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of CNM and SBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNM vs. SBS - Drawdown Comparison

The maximum CNM drawdown since its inception was -40.00%, smaller than the maximum SBS drawdown of -76.49%. Use the drawdown chart below to compare losses from any high point for CNM and SBS.

Drawdown Indicators

	CNM	SBS	Difference
Max Drawdown Largest peak-to-trough decline	-40.00%	-76.49%	+36.49%
Max Drawdown (1Y) Largest decline over 1 year	-33.88%	-25.87%	-8.01%
Max Drawdown (3Y) Largest decline over 3 years	-38.74%	-25.87%	-12.87%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.35%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.91%	—
Current Drawdown Current decline from peak	-31.53%	-14.43%	-17.10%
Average Drawdown Average peak-to-trough decline	-17.36%	-25.68%	+8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.98%	9.39%	+12.59%

Volatility

CNM vs. SBS - Volatility Comparison

Core & Main, Inc. (CNM) has a higher volatility of 12.51% compared to Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) at 8.16%. This indicates that CNM's price experiences larger fluctuations and is considered to be riskier than SBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNM	SBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.51%	8.16%	+4.35%
Volatility (6M) Calculated over the trailing 6-month period	24.13%	24.59%	-0.46%
Volatility (1Y) Calculated over the trailing 1-year period	40.73%	33.80%	+6.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.68%	36.86%	+3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.68%	43.45%	-2.77%

Dividends

CNM vs. SBS - Dividend Comparison

CNM has not paid dividends to shareholders, while SBS's dividend yield for the trailing twelve months is around 2.10%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNM Core & Main, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	2.10%	4.68%	1.96%	1.66%	1.88%	0.97%	2.93%	1.99%	3.86%	2.76%	0.65%	1.91%

Financials

CNM vs. SBS - Profitability Comparison

The chart below illustrates the profitability comparison between Core & Main, Inc. and Companhia de Saneamento Básico do Estado de São Paulo - SABESP over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CNM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Core & Main, Inc. reported a gross profit of 520.00M and revenue of 1.91B. Therefore, the gross margin over that period was 27.2%.

SBS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported a gross profit of 3.79B and revenue of 9.78B. Therefore, the gross margin over that period was 38.8%.

CNM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Core & Main, Inc. reported an operating income of 177.00M and revenue of 1.91B, resulting in an operating margin of 9.3%.

SBS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported an operating income of 3.33B and revenue of 9.78B, resulting in an operating margin of 34.1%.

CNM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Core & Main, Inc. reported a net income of 108.00M and revenue of 1.91B, resulting in a net margin of 5.7%.

SBS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported a net income of 1.72B and revenue of 9.78B, resulting in a net margin of 17.6%.

Frequently Asked Questions

Can I hold both CNM and SBS in my portfolio?

CNM and SBS have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNM or SBS?

CNM has higher volatility (12.51%) compared to SBS (8.16%). In terms of maximum drawdown, CNM dropped -40.00% vs SBS's -76.49%.

Which has better risk-adjusted returns?

SBS currently has the higher Sharpe Ratio (1.76 vs -0.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.