— Know what they know.
/
Not Investment Advice

COR

NYSE · USD
Cencora, Inc.
Healthcare · Medical - Distribution
CEO Robert Mauch Employees 47,000 R&D / revenue 0.0%
Last price
$340.92−0.14%last session
Market cap
$65.1B
P/E (TTM)
25.2x
From 52w high
−9.7%
From 52w low
+39.3%
1-year return
+6.9%
RSI 14 · vs SMA200
70.0 · +7.4%
IS score
60.0/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

COR   SPY   XLV (sector ETF) · weekly closes
8090100110120Jan 26Apr 26Jul 26Oct 26XLV 124SPY 116COR 107

Score DNA

Each bar is a 0-100 score within the scored universe
26
Profitability
72
Growth
44
Value
88
Momentum
100
Risk (safety)
48
Quality
39
Balance sheet
87
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Insider buying✓ Congress buying
Warnings
None of the computed warning flags fires for COR (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 7 / 9Altman Z 4.6Beta 0.574 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
3
$2.31M bought
Form 144 notices (12m): 18, $67.9M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
2
Last disclosed purchase 2026-09-04
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−86
108 new holders, 179 closed
1,348 filers hold 95.4% · 431 added, 625 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+87
1,204 funds adding shares
1,117 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
24.0%
20-day avg 40.7%, 50-day avg 44.8%
Latest 16.7 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$321.3B
Revenue growth YoY+9.3%
Gross margin3.2%
Operating income$3.6B
Operating margin1.1%
Net income$1.6B
Net margin0.5%
EPS (diluted)$7.96
Cash flow
Operating cash flow$3.9B
Capital expenditure$668.0M
Free cash flow$3.2B
FCF conversion (FCF / OCF)82.8%
Stock-based compensation$0
FCF less SBC$3.2B
Buybacks$435.5M
Dividends$437.1M
Balance sheet & returns
Cash & short-term investments$4.4B
Total debt$9.3B
Net debt$4.9B
Shareholders' equity$1.7B
Goodwill & intangibles$17.5B
Debt / equity3.84
ROE (TTM)106.4%
ROIC (TTM)12.7%
Operating margin by fiscal year
1.1%FY20211.0%FY20220.9%FY20230.8%FY20241.1%FY2025
Revenue $214.0B (FY2021) to $321.3B (FY2025), a 10.7% CAGR.

Valuation

P/E (TTM)25.2x
EV / EBITDA14.4x
Price / sales0.20x
Price / FCF16.0x
FCF yield6.24%
Buyback yield0.67%
SBC / revenue0.0%
Price / book21.58x
Forward P/E FY202717.3x
Forward P/E FY202815.6x
Forward multiples divide today's price by Street EPS estimates. Street mean target $371.00 across 6 analysts last quarter is theirs, not ours.

COR vs industry median

42 companies in Medical - Distribution
Gross margin 3.7% 9.4% Operating margin 1.3% 0.7% Net margin 0.8% 0.2% ROIC 12.7% 6.7%
COR (TTM)Industry median Asset turnover 3.97 vs industry 1.91 · financial leverage 27.47

Earnings delivery

Next report 2026-11-04 · consensus EPS $4.58
92%
beat rate, 11 of 12 quarters
+3.2%
median EPS surprise
10
longest beat streak
+2+13+3+4+3+7+8+4+1+1-1+3
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-08-05. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
COR Cencora, Inc. $65.1B25.2x106.4%0.8%+9.3% +6.9%
CAH Cardinal Health, Inc. $58.8B34.9x-60.5%0.6%+14.2% +67.3%
MCK McKesson Corporation $117.2B26.8x-148.0%0.6%+8.8% +29.7%
HSIC Henry Schein, Inc. $9.6B25.0x12.2%2.7%+6.5% +39.3%
BSX Boston Scientific Corporatio $64.3B17.9x15.5%16.7%+13.5% −54.6%
NTRA Natera, Inc. $56.7Bn/m-12.5%-8.9%+37.8% —
CI Cigna Corporation $79.9B12.5x15.5%2.3%+7.7% —
BDX Becton, Dickinson and Compan $52.2B57.8x3.8%7.6%−2.6% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-09-25Officer/Director Change; Regulation FD; Exhibits
2026-08-14Officer/Director Change
2026-08-12Regulation FD
2026-08-05Earnings Release; Regulation FD; Exhibits
2026-08-05Material Agreement; Financial Obligation; Exhibits
2026-06-15Officer/Director Change; Regulation FD; Exhibits

Context

Shares outstanding190,827,165
Free float94.5%
Institutional ownership95.4%
Beta0.57
Dividend yield0.70%
Last dividend$0.60 on 2026-08-14
50 / 200-day average$319.93 / $317.48
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where COR sits among 5 scored companies in Medical - Distribution (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureCORIndustry medianIndustry percentileSector median
P/E (TTM) 24.8x — 27.6x
PEG (P/E ÷ 3-yr EPS CAGR) 1.39 — 1.28
Price / sales 0.2x 0.3x
0th		 3.7x
Price / book 21.3x — 3.6x
Price / tangible book —
Price / free cash flow 16.0x — 21.2x
Price / operating cash flow 13.5x — 17.1x
Enterprise value $74.0B $63.9B
75th		 $2.5B
EV / sales 0.2x 0.3x
0th		 3.8x
EV / EBITDA 14.4x — 16.2x
EV / EBIT 18.1x — 23.0x
EV / free cash flow 18.2x — 24.6x
Earnings yield 4.0% 3.9%
75th		 -0.3%
FCF yield 6.2% 5.6%
75th		 1.7%
Operating cash flow yield 7.4% 7.3%
75th		 2.9%
Graham number (per share) $69.21 — $26.70

Profitability (TTM)

MeasureCORIndustry medianIndustry percentileSector median
Gross margin 3.7% 3.7%
50th		 65.1%
EBITDA margin 1.5% 1.5%
50th		 6.6%
Operating margin 1.3% 1.3%
50th		 3.5%
EBIT margin 1.2% 1.2%
50th		 2.4%
Net margin 0.8% 0.8%
50th		 0.3%
NOPAT margin 1.0% 1.0%
50th		 2.7%
FCF margin 1.2% 1.5%
25th		 4.3%
Operating cash flow margin 1.4% 1.7%
25th		 7.1%
R&D / revenue 0.0% 0.0%
0th		 12.4%
SG&A / revenue 2.3% 2.4%
25th		 37.9%
Stock comp / revenue 0.0% 0.0%
50th		 4.5%
Effective tax rate 26.8% 21.6%
100th		 21.0%

Returns on capital

MeasureCORIndustry medianIndustry percentileSector median
ROE (on average equity) 104.3% — 0.8%
ROA 3.3% 3.3%
50th		 -0.3%
ROIC 26.5% 26.5%
50th		 5.5%
ROCE 16.6% 16.6%
50th		 2.3%
Return on tangible assets 5.2% 5.2%
50th		 1.7%
Cash ROIC (OCF / invested capital) 40.3% 40.3%
50th		 9.7%
Gross profitability (GP / assets) 14.7% 16.9%
25th		 29.9%
ROIC, 3-yr average 23.8% — 2.6%
ROIC, 5-yr average 31.7% — 3.2%
ROE, 5-yr average 184.3% — -4.9%
Incremental ROIC 39.2% 127.4%
25th		 17.2%

Growth

MeasureCORIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 5.1% 8.8%
0th		 10.5%
Revenue growth (QoQ) 8.2% 4.8%
75th		 7.2%
Revenue CAGR, 3 yr 9.4% 7.4%
75th		 10.7%
Revenue CAGR, 5 yr 10.2% 10.2%
50th		 12.1%
Gross profit CAGR, 3 yr 12.7% — 10.6%
Operating income CAGR, 3 yr 23.2% — 11.7%
Net income growth (TTM YoY) 38.3% — 17.5%
Net income CAGR, 3 yr 15.8% — 11.3%
EPS growth (TTM YoY) 39.3% — 19.2%
EPS CAGR, 3 yr 17.9% — 14.0%
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 116.5% — 18.6%
FCF CAGR, 3 yr 13.3% — 15.4%
Operating cash flow CAGR, 3 yr 14.1% — 11.9%
Book value CAGR, 3 yr 51.6% — 2.1%
Dividend CAGR, 3 yr 4.6% — 2.2%
Sustainable growth rate 85.7% — 12.2%

Margin history & stability

MeasureCORIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 3.5% 3.6%
25th		 62.6%
Operating margin, 3-yr average 1.1% 1.1%
50th		 1.0%
Net margin, 3-yr average 0.7% 0.7%
50th		 -2.6%
FCF margin, 3-yr average 0.9% 1.3%
25th		 3.2%
Revenue stability (0-1) 0.99 0.94
100th		 0.80
Earnings stability (0-1) 0.53 0.57
25th		 0.37
Margin stability (0-1) 0.93 0.90
75th		 0.93

Liquidity (latest quarter)

MeasureCORIndustry medianIndustry percentileSector median
Cash & short-term investments $2.8B $2.8B
50th		 $330.9M
Net cash (− = net debt) −$8.9B −$5.1B
0th		 $8.4M
Working capital −$3.9B −$3.9B
50th		 $381.1M
Current ratio 0.93 0.93
50th		 3.02
Quick ratio 0.58 0.58
50th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.05 0.05
50th		 1.43
Defensive interval (days) 1,288 days 952 days
75th		 415 days

Leverage & solvency (latest quarter)

MeasureCORIndustry medianIndustry percentileSector median
Total debt $11.7B $9.9B
100th		 $289.1M
Debt / equity 3.84 — 0.45
Net debt / equity 2.92 — −0.13
Debt / assets 14.0% 14.0%
50th		 24.4%
Debt / capital 79.3% — 31.1%
Debt / EBITDA 2.28 — 2.62
Net debt / EBITDA 1.73 — 1.42
Interest coverage (EBIT / interest) 8.2x — 2.1x
Cash interest coverage 9.7x — 3.6x
Debt payback (years of OCF) 2.4 yrs — 2.7 yrs
Liabilities / assets 96.1% 96.1%
50th		 49.8%
IS credit model rating A+ — —
Implied credit spread (bps) 125 125
25th		 225

Efficiency

MeasureCORIndustry medianIndustry percentileSector median
Asset turnover 4.22 4.22
50th		 0.56
Fixed asset turnover 117.25 88.86
75th		 4.87
Inventory turnover 15.6 15.4
75th		 2.7
Receivables turnover 13.3 13.3
50th		 6.4
Days sales outstanding 27 days 27 days
50th		 57 days
Days inventory outstanding 23 days 24 days
25th		 136 days
Days payables outstanding 60 days 54 days
100th		 59 days
Cash conversion cycle (days) −9 days −6 days
25th		 70 days
Capex / revenue 0.2% 0.2%
50th		 2.6%
Capex / depreciation 0.71 0.68
75th		 0.55
Operating expense ratio 2.9% 3.2%
25th		 56.5%

Cash flow & earnings quality

MeasureCORIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.84 — 1.61
FCF / net income 1.55 — 1.36
FCF / operating cash flow 84.2% — 81.2%
Capex / operating cash flow 15.8% — 18.8%
Accruals ratio -2.8% -2.8%
50th		 -5.4%
Sloan accruals ratio 0.3% -2.1%
100th		 -1.3%
Earnings quality score (0-1) 1.00 — 0.75

Dividends & buybacks

MeasureCORIndustry medianIndustry percentileSector median
Dividend yield 0.7% 0.3%
75th		 0.0%
Dividend per share (TTM) $2.40 $2.05
75th		 $0.00
Payout ratio (dividends / net income) 17.8% — 0.0%
Dividends / FCF 11.5% — 0.0%
Dividend growth (YoY) 9.4% — 4.5%
Buyback yield 1.5% 2.3%
25th		 0.0%
Shareholder yield (dividends + buybacks) 2.3% 3.1%
25th		 0.0%
Share count change (YoY) -0.7% -1.2%
75th		 2.0%
Buybacks, last 5 years $2.4B $2.0B
75th		 $0

Scores & forensic checks

MeasureCORIndustry medianIndustry percentileSector median
IS score 60 59
75th		 46
IS profitability 26 8
75th		 22
IS growth 72 68
75th		 60
IS value 44 44
75th		 39
IS momentum 88 84
75th		 67
IS risk (safety) 100 100
25th		 80
IS quality 48 57
25th		 49
IS balance sheet 39 42
25th		 55
IS earnings quality 87 82
75th		 56
IS cash flow 63 61
75th		 41
Piotroski F-score (0-9) 7 7
25th		 5
Altman Z-score 4.6 5.1
25th		 3.2
Beneish M-score −2.69 −2.69
50th		 −2.62
Ohlson O-score −5.88 −6.84
75th		 −7.16
IS credit score 80 76
75th		 62

Per share

MeasureCORIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $13.53 $7.23
75th		 −$0.03
Book value per share $15.73 $0.25
75th		 $7.10
Tangible book per share −$99.44 −$69.30
25th		 $1.91
Revenue per share $1,715.81 $1,072.78
75th		 $9.38
FCF per share $20.93 $19.09
75th		 $0.46
Operating cash flow per share $24.86 $21.83
75th		 $0.93
Cash per share $14.52 $14.52
50th		 $3.51

Size (TTM)

MeasureCORIndustry medianIndustry percentileSector median
Market cap $65.1B $58.8B
75th		 $2.4B
Revenue $332.8B $254.2B
75th		 $770.2M
EBITDA $5.1B $3.5B
75th		 $56.1M
Net income $2.6B $1.7B
75th		 −$3.3M
Free cash flow $4.1B $4.1B
50th		 $41.2M
Total assets $83.8B $57.3B
75th		 $1.3B
Shareholders' equity $3.1B $180.9M
75th		 $568.4M
Employees 49,000 42,300
75th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-01Krikorian Lazarus
SVP & Chief Accounting Officer
 Open-market sale 986$303.18$298,93515,183
2026-10-01Sanchez Robert E
Director
 Award / grant 275——275
2026-09-16Greenberg Lon R
Director
 Open-market sale 1,280$321.30$411,26417,128
2026-09-01Krikorian Lazarus
SVP & Chief Accounting Officer
 Open-market sale 985$325.97$321,08016,169
2026-08-24Campbell Elizabeth S
Executive Vice President
 Open-market sale 11,300$324.12$3.7M19,455
2026-07-31Nally Dennis M
Director
 Award / grant 113$311.34$35,18113,188
2026-07-31Cooper Ellen
Director
 Award / grant 97$311.34$30,200893
2026-07-31Tyler Lauren M
Director
 Award / grant 97$311.34$30,2004,456
2026-06-30Battaglia Silvana
Executive Vice President
 Award / grant 58$240.53$14,00023,624
2026-06-30Campbell Elizabeth S
Executive Vice President
 Award / grant 50$240.53$12,00030,756
2026-06-29Boratto Eva C
Chief Financial Officer
 Award / grant 21,304——21,304
2026-06-22Tyler Lauren M
Director
 Open-market buy 550$270.23$148,6264,359

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1022,308$217,037
Open-market buyAcquired38,550$2.3M
Open-market saleDisposed414,551$4.7M
—Disposed30—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 18 notices · 197,736 shares · $67.9M
FiledFilerShares proposedEst. proceeds
2026-09-16Lon Greenberg1,280$411,282
2026-09-11Battaglia Silvana1,324$430,300
2026-09-04Cleary James F10,000$3.4M
2026-09-01Battaglia Silvana6,593$2.2M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 16 trades (11 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-05-06Jared MoskowitzHouseSale$1,001 - $15,0002026-06-22
2026-05-06Jared MoskowitzHouseSale (Full)$1,001 - $15,0002026-06-22
2026-05-06Jared MoskowitzHouseSale (Full)$1,001 - $15,0002026-06-22
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-20
2021-11-16Thomas R. CarperSenateSale (Full)$1,001 - $15,0002021-12-04
2021-11-16Thomas R. CarperSenateSale (Full)$1,001 - $15,0002021-12-03
2021-11-16Thomas Richard CarperSenateSale (Full)$1,001 - $15,0002021-12-03
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.18,213,783$5.2B9.54%
VANGUARD CAPITAL MANAGEMENT LLC12,378,943$3.5B6.49%
VANGUARD PORTFOLIO MANAGEMENT LLC9,611,756$2.7B5.04%
STATE STREET CORP9,273,983$2.6B4.86%
T. Rowe Price Investment Management, Inc.7,410,910$2.1B3.88%
PRICE T ROWE ASSOCIATES INC /MD/7,132,687$2.0B3.74%
JPMORGAN CHASE & CO5,747,384$1.6B3.01%
GEODE CAPITAL MANAGEMENT, LLC5,454,888$1.5B2.86%
WELLINGTON MANAGEMENT GROUP LLP4,559,761$1.3B2.39%
FMR LLC4,122,371$1.2B2.16%
BANK OF AMERICA CORP /DE/3,733,921$1.1B1.96%
NORGES BANK2,473,825$700.0M1.30%
MORGAN STANLEY2,347,907$664.4M1.23%
GOLDMAN SACHS GROUP INC2,274,148$643.5M1.19%
Amundi2,229,326$630.9M1.17%

Institutional ownership by quarter

2023-092026-0695.4%
% of shares held by 13F filers
2023-092026-061,348
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,34895.4%108431625179
2026-03-311,43494.8%138533538139
2025-12-311,46494.7%22949753188
2025-09-301,35392.7%139531451103
2025-06-301,34295.7%17150046996
2025-03-311,28797.5%196436477111
2024-12-311,223100.7%17947839188
2024-09-301,157100.1%13146338989
2024-06-301,129102.3%103446402112
2024-03-311,151101.8%17339341986
2023-12-311,07788.0%19334540372
2023-09-3096984.9%101343363119

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management7.3%14,210,260
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-07-29SCHEDULE 13G/AThe Vanguard Group11.6%22,478,981
2025-06-09SCHEDULE 13D/AWalgreens Boots Alliance, Inc.5.0%9,615,000
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.07%$1.7B
VTSAX0.07%$1.7B
VSMPX0.07%$1.7B
VTI0.07%$1.7B
VFIAX0.09%$1.5B
VFINX0.09%$1.5B

Share structure

Shares outstanding190,827,165
Float180,249,615
Free float94.5%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$214.0B$238.6B$262.2B$294.0B$321.3B
Cost of revenue$207.0B$230.3B$253.2B$284.0B$311.2B
Gross profit$6.9B$8.3B$9.0B$9.8B$10.1B
R&D$0$0$0$0$0
SG&A$3.6B$4.8B$5.3B$5.7B$6.5B
Operating income$2.4B$2.4B$2.3B$2.2B$3.6B
EBITDA$3.2B$3.1B$3.4B$3.4B$3.7B
Pretax income$2.2B$2.2B$2.2B$2.0B$2.3B
Income tax$677.3M$516.5M$428.3M$484.7M$690.5M
Net income$1.5B$1.7B$1.7B$1.5B$1.6B
EPS, diluted$7.39$8.04$8.53$7.53$7.96
Diluted shares208.5M211.2M204.6M200.3M195.2M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$2.5B$3.4B$2.6B$3.1B$4.4B
Receivables$18.4B$18.5B$20.9B$23.9B$25.2B
Inventory$15.4B$15.6B$17.5B$19.0B$20.5B
Total current assets$38.8B$39.6B$42.8B$47.7B$52.2B
PP&E, net$2.2B$2.1B$2.1B$2.2B$4.1B
Goodwill & intangibles$14.3B$12.8B$14.0B$13.3B$17.5B
Total assets$57.3B$56.6B$62.6B$67.1B$76.6B
Accounts payable$38.0B$40.2B$45.8B$50.9B$54.7B
Total current liabilities$41.4B$43.5B$48.8B$54.3B$57.8B
Long-term debt$6.4B$4.6B$4.1B$3.8B$9.0B
Total liabilities$56.8B$56.5B$62.0B$66.5B$74.8B
Shareholders' equity$584.4M$71.3M$522.0M$645.9M$1.7B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.5B$1.7B$1.7B$1.5B$1.6B
Depreciation & amortization$514.8M$709.8M$980.8M$448.2M$0
Stock-based compensation$99.6M$93.4M$124.6M$148.0M$0
Change in working capital$367.3M−$139.7M$874.5M$298.7M$35.4M
Operating cash flow$2.7B$2.7B$3.9B$3.5B$3.9B
Capital expenditure−$438.2M−$496.3M−$458.4M−$487.2M−$668.0M
Free cash flow$2.2B$2.2B$845.9M$3.0B$3.2B
Investing cash flow−$6.1B−$368.4M−$2.6B−$618.1M−$5.0B
Net debt issued / repaid$2.2B−$923.1M−$623.3M−$385.5M$3.2B
Buybacks−$82.2M−$483.7M−$1.2B−$1.5B−$435.5M
Dividends paid−$366.6M−$391.7M−$398.8M−$416.2M−$437.1M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin3.2%3.5%3.4%3.2%3.4%
Operating margin1.1%1.0%0.9%0.8%1.1%
Net margin0.7%0.7%0.7%0.5%0.5%
FCF margin1.0%0.9%0.7%1.3%1.0%
ROE-499.7%-5,114.6%1,503.1%258.4%144.3%
ROIC37.5%89.2%69.1%99.3%31.6%
ROA3.0%3.0%2.9%2.3%2.2%
Debt / equity29.93-19.689.176.797.13
Interest coverage13.7x11.1x11.1x11.0x7.5x
Current ratio0.940.910.880.880.90
Revenue growth+12.7%+11.5%+9.9%+12.1%+9.3%
EPS growth+143.7%+10.8%+6.0%−12.2%+6.4%
P/E at year end16.0x16.5x20.6x29.6x38.9x
EV / EBITDA at year end9.9x9.8x10.6x14.4x17.9x
FCF yield at year end9.07%7.86%5.00%8.36%5.30%
Dividend payout23.8%23.1%22.8%27.6%28.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Pharmaceutical Distribution$198.2B$182.2B$229.7B$260.0B$285.3B
International Healthcare Solutions$11.3B$26.5B$27.4B$28.6B$30.4B
Animal Health$4.7B$4.2B$5.0B$5.4B$5.7B

Revenue by region · FY2025

U.S. Healthcare Solutions$291.0B · 91%
International Healthcare Solutions$30.4B · 9%

Street estimates by fiscal year

Next report 2026-11-04 · consensus EPS $4.58 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$337.1B$337.0B – $337.4B$17.89$17.87 – $17.92819.1x
2027$352.1B$349.9B – $354.9B$19.76$19.46 – $20.10617.3x
2028$368.6B$355.9B – $379.3B$21.80$20.01 – $23.86415.6x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-05$4.35$4.48+3.0%$84.3B$84.8B+0.5%
2026-05-06$4.82$4.75−1.5%$81.1B$78.4B−3.4%
2026-02-04$4.05$4.08+0.7%$86.1B$85.9B−0.1%
2025-11-05$3.79$3.84+1.3%$83.5B$83.7B+0.3%
2025-08-06$3.85$4.00+3.9%$80.1B$80.7B+0.7%
2025-05-07$4.11$4.42+7.5%$75.7B$75.5B−0.3%
2025-02-05$3.50$3.73+6.6%$78.3B$81.5B+4.1%
2024-11-06$3.23$3.34+3.4%$77.6B$79.1B+1.8%
2024-07-31$3.22$3.34+3.7%$73.3B$74.2B+1.3%
2024-05-01$3.69$3.80+3.0%$70.6B$68.4B−3.1%
2024-01-31$2.89$3.28+13.5%$69.2B$72.3B+4.5%
2023-11-02$2.81$2.86+1.8%$66.0B$68.9B+4.4%
2023-08-02$2.82$2.92+3.5%$63.9B$66.9B+4.7%
2023-05-02$3.30$3.50+6.1%$60.4B$63.5B+5.1%
2023-02-01$2.64$2.71+2.7%$62.8B$62.8B+0.1%
2022-11-03$2.57$2.60+1.2%$60.5B$61.2B+1.0%
2022-08-03$2.56$2.62+2.3%$59.1B$60.1B+1.7%
2022-05-04$2.93$3.22+9.9%$57.5B$57.7B+0.4%
2022-02-02$2.58$2.580.0%$59.6B$59.6B+0.0%
2021-11-04$2.36$2.39+1.3%$57.6B$58.9B+2.2%
2021-08-04$2.01$2.16+7.5%$52.4B$53.4B+2.0%
2021-05-05$2.51$2.53+0.8%$49.9B$49.2B−1.5%
2021-02-04$1.94$2.18+12.4%$46.0B$52.5B+14.1%
2020-11-05$1.87$1.89+1.1%$141.5B$49.2B−65.2%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.706-220.506-290.707-060.607-130.507-200.507-271.008-030.908-100.408-170.508-240.708-31
Week ofNotionalSharesTrades
2026-08-31$673.1M2,024,21162,713
2026-08-24$476.0M1,468,46551,382
2026-08-17$397.3M1,252,51351,612
2026-08-10$904.7M2,841,52082,674
2026-08-03$996.6M3,161,73685,883
2026-07-27$466.7M1,480,75053,026

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1524.0%
DateShort shareShort volumeTotal volume
2026-10-1524.0%178,710743,887
2026-10-1444.8%185,108413,473
2026-10-1355.5%231,128416,737
2026-10-1231.7%134,523424,444
2026-10-0954.4%174,421320,376
2026-10-0848.8%161,804331,497
2026-10-0739.3%130,198331,535
2026-10-0641.7%112,450269,875
2026-10-0541.8%187,324448,568
2026-10-0243.1%186,158432,026
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+4.6Jan-0.7Feb+2.6Mar-0.1Apr+1.6May+1.1Jun+1.0Jul-1.2Aug-0.7Sep+2.1Oct+3.5Nov+1.0Dec
MonthAvg returnUp yearsYears
Jan+4.6%90%20
Feb−0.7%45%20
Mar+2.6%67%21
Apr−0.1%50%20
May+1.6%65%20
Jun+1.1%60%20
Jul+1.0%55%20
Aug−1.2%45%20
Sep−0.7%45%20
Oct+2.1%80%20
Nov+3.5%75%20
Dec+1.0%50%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1470.0
MFI69.7
ADX21.1
Stochastic %K / %D94.2 / 95.2
Williams %R-9.1
CCI168
TSI / signal19.1 / 3.9
Chaikin money flow0.13
ATR$7.30
Bollinger width14.5%
Volume vs 20-day avg0.80x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$317.89 (+7.2%)
SMA 50$320.19 (+6.5%)
SMA 200$317.33 (+7.4%)
EMA 21$323.00 (+5.5%)
EMA 50$317.98 (+7.2%)
EMA 200$312.36 (+9.1%)
Bollinger upper$340.98 (−0.0%)
Bollinger lower$294.81 (+15.6%)
Parabolic SAR$319.25 (+6.8%)
Open the live chart, 110+ indicators

About Cencora, Inc.

Cencora, Inc. functions as a global leader in the sourcing and distribution of pharmaceutical products, with operations spanning both the United States and international markets. Within its U.S. Healthcare Solutions segment, the company supplies a broad spectrum of pharmaceutical items, including generic and injectable medications, over-the-counter health products, and home healthcare equipment. Its extensive client network includes acute care hospitals, health systems, a variety of retail and mail-order pharmacies (independent, chain, long-term care), medical clinics, and other healthcare providers. This division also manages the distribution of crucial specialized pharmaceutical products like plasma, blood derivatives, and vaccines. Beyond product supply, Cencora offers comprehensive support services, such as pharmacy management, staffing solutions, and strategic consulting. It develops and implements supply management software, provides packaging services for both institutional and retail healthcare settings, and assists with clinical trial support, post-market approval processes, and commercialization strategies. For biotechnology and pharmaceutical manufacturers, the company delivers data analytics, outcomes research, and other specialized services. Furthermore, Cencora serves the animal health market, providing pharmaceuticals, vaccines, parasiticides, diagnostics, and micro feed ingredients for both companion and production animals. It also offers sales force support to manufacturers and specialized services to medical professionals, particularly oncologists, as well as to hospitals and dialysis clinics. The International Healthcare Solutions division concentrates on global pharmaceutical wholesale activities, associated services, and worldwide commercialization support. It ensures the efficient distribution of medicines, various healthcare goods, and related services to an international customer base comprising pharmacies, doctors, health centers, and hospitals. This segment also delivers specialized transportation and logistics solutions specifically designed for the biopharmaceutical sector. Founded in 1871, the company was formerly known as AmerisourceBergen Corporation before adopting the name Cencora, Inc. in August 2023. Its corporate headquarters are situated in Conshohocken, Pennsylvania.

https://www.cencora.com

Key executives

NameTitlePayBorn
Robert MauchPresident, Chief Executive Officer & Director$6.3M1967
Eva C. BorattoExecutive Vice President & Chief Financial Officer$2.7M1967
James F. Cleary Jr.Advisor$2.7M1963
Silvana BattagliaAdvisor$2.7M1968
Elizabeth S. CampbellExecutive Vice President & Chief Legal Officer$2.3M1975
Samantha L. HammockExecutive Vice President & Chief Human Resources Officer$2.0M1979
Lazarus KrikorianSenior Vice President, Chief Accounting Officer & Corporate Controller—1965
Richard TremonteEVP and President of U.S. Pharmaceuticals & Animal Health——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Robert P. Mauch President and Chief Executive Officer2025$1.4M$12.0M$4.3M$18.3M
Steven H. Collis Executive Chairman2025$1.0M$6.0M$1.8M$9.7M
James F. Cleary Executive Vice President and Chief Financial Officer2025$926,137$3.8M$1.7M$6.5M
Elizabeth S. Campbell Executive Vice President and Chief Legal Officer2025$769,205$2.9M$1.4M$5.2M
Silvana Battaglia Executive Vice President and Chief Human Resources Officer2025$664,849$1.7M$1.2M$3.7M

Employees

20k201821k201921k202038k202139k202242k202342k202447k2025

Dividends

Ex-dateAmountPaid
2026-08-14$0.62026-08-31
2026-05-15$0.62026-06-01
2026-02-13$0.62026-03-02
2025-11-14$0.62025-12-01
2025-08-15$0.552025-09-03
2025-05-16$0.552025-06-02
2025-02-14$0.552025-03-03
2024-11-15$0.552024-11-29

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage68
Intangibles33
Switching costs53
Network effect55
Efficient scale100
Our component scores (0-100) and overall 58.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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