Cencora, Inc. (COR) 10-Year Financial Performance & Capital Metrics

COR • • Industrial / General

HealthcareMedical DistributionPharmaceutical DistributionBroadline Pharmaceutical Distributors

AboutCencora, Inc. sources and distributes pharmaceutical products. Its U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers. The company also provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; and pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets. In addition, this segment distributes plasma and other blood products, injectable pharmaceuticals, vaccines, and other specialty products; and provides other services primarily to physicians who specialize in various disease states, primarily oncology, as well as to other healthcare providers, including hospitals and dialysis clinics. The company's International Healthcare Solutions segment offers international pharmaceutical wholesale and related service, and global commercialization services; and distributes pharmaceuticals, other healthcare products, and related services to pharmacies, doctors, health centers and hospitals primarily in Europe. This segment also provides specialty transportation and logistics services for the biopharmaceutical industry. The company was formerly known as AmerisourceBergen Corporation and changed its name to Cencora, Inc. in August 2023. Cencora, Inc. was incorporated in 2001 and is headquartered in Conshohocken, Pennsylvania.Show more

Revenue $321.33B +9.3%
EBITDA $3.87B -6.8%
Net Income $1.55B +3.0%
EPS (Diluted) 7.95 +5.6%
Gross Margin 3.26% +10.3%
EBITDA Margin 1.2% -14.8%
Operating Margin 0.88% -15.4%
Net Margin 0.48% -5.8%
ROE 122.67% -40.9%
ROIC 59.45% -36.1%
Debt/Equity 4.38 -21.4%
Interest Coverage 7.24 -40.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 267.9%
✓24 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.1%
✓Share count reduced 3.2% through buybacks
✓Efficient asset utilization: 4.2x turnover

✗Weaknesses

✗High debt to equity ratio of 4.4x
✗Thin 5Y average net margin of 0.6%
✗Expensive at 39.4x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.98%

5Y11.09%

3Y10.43%

TTM9.31%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-2.92%

TTM2.99%

EPS CAGR

10Y-

5Y-

3Y-0.39%

TTM5.96%

ROCE

10Y Avg20.28%

5Y Avg19.63%

3Y Avg19.65%

Latest17.8%

Peer Comparison

Broadline Pharmaceutical Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CORCencora, Inc.	68.94B	355.35	44.70	9.31%	0.48%	88.96%	4.65%	4.38
CAHCardinal Health, Inc.	50.72B	213.46	33.09	-1.87%	0.68%		3.65%
MCKMcKesson Corporation	104.19B	844.13	32.82	16.22%	1.04%		5.02%

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	146.85B	153.14B	167.94B	179.59B	189.89B	213.99B	238.59B	262.17B	293.96B	321.33B
Revenue Growth %	0.08%	0.04%	0.1%	0.07%	0.06%	0.13%	0.11%	0.1%	0.12%	0.09%
Cost of Goods Sold+	143.08B	149B	163.83B	175.06B	185.1B	207.72B	230.99B	254.42B	285.26B	310.84B
COGS % of Revenue	0.97%	0.97%	0.98%	0.97%	0.97%	0.97%	0.97%	0.97%	0.97%	0.97%
Gross Profit+	3.77B	4.15B	4.11B	4.53B	4.79B	6.27B	7.6B	7.76B	8.7B	10.49B
Gross Margin %	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
Gross Profit Growth %	0.17%	0.1%	-0.01%	0.1%	0.06%	0.31%	0.21%	0.02%	0.12%	0.21%
Operating Expenses+	2.09B	2.13B	2.46B	2.66B	2.77B	3.59B	4.85B	5.31B	5.66B	7.68B
OpEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%
Selling, General & Admin	2.09B	2.13B	2.46B	2.66B	2.77B	3.59B	4.85B	5.31B	5.66B	6.49B
SG&A % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	1.19B
Operating Income+	1.68B	2.02B	1.65B	1.87B	2.02B	2.68B	2.75B	2.45B	3.04B	2.81B
Operating Margin %	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Operating Income Growth %	0.29%	0.2%	-0.18%	0.13%	0.08%	0.32%	0.03%	-0.11%	0.24%	-0.08%
EBITDA+	2.07B	2.44B	2.15B	2.36B	2.43B	3.18B	3.45B	3.42B	4.15B	3.87B
EBITDA Margin %	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
EBITDA Growth %	0.33%	0.18%	-0.12%	0.1%	0.03%	0.31%	0.08%	-0.01%	0.21%	-0.07%
D&A (Non-Cash Add-back)	385.03M	422.92M	499.64M	488.54M	401.62M	505.17M	697.94M	972.39M	1.11B	1.06B
EBIT	1.54B	1.07B	1.37B	1.16B	-5.14B	2.4B	2.42B	2.44B	2.25B	2.65B
Net Interest Income+	-139.91M	-145.19M	-174.7M	-157.77M	-137.88M	-174.07M	-210.67M	-228.93M	-156.99M	-291.55M
Interest Income	4.44M	3.86M	14.94M	37.7M	20.64M	8.47M	21.31M	46.72M	91.69M	96.68M
Interest Expense	144.35M	149.04M	189.64M	195.47M	158.52M	182.54M	231.98M	275.65M	248.68M	388.23M
Other Income/Expense	-291.97M	-1.1B	-473.53M	-899.42M	-7.32B	-453.15M	-568.62M	-285.68M	-1.04B	-553.25M
Pretax Income+	1.39B	917.89M	1.18B	967.11M	-5.29B	2.22B	2.18B	2.16B	2B	2.26B
Pretax Margin %	0.01%	0.01%	0.01%	0.01%	-0.03%	0.01%	0.01%	0.01%	0.01%	0.01%
Income Tax+	-37.02M	553.4M	-438.47M	112.97M	-1.89B	677.25M	516.52M	428.26M	484.7M	690.52M
Effective Tax Rate %	1.03%	0.4%	1.41%	0.88%	0.64%	0.69%	0.78%	0.81%	0.75%	0.69%
Net Income+	1.43B	364.48M	1.66B	855.37M	-3.41B	1.54B	1.7B	1.75B	1.51B	1.55B
Net Margin %	0.01%	0%	0.01%	0%	-0.02%	0.01%	0.01%	0.01%	0.01%	0%
Net Income Growth %	11.33%	-0.74%	3.55%	-0.48%	-4.99%	1.45%	0.1%	0.03%	-0.14%	0.03%
Net Income (Continuing)	1.43B	364.48M	1.62B	854.13M	-3.4B	1.54B	1.67B	1.73B	1.52B	1.57B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	117.14M	114.29M	179.29M	361.06M	282.83M	144.28M	140.8M	239.07M
EPS (Diluted)+	6.32	1.64	7.53	4.04	-16.65	7.39	8.04	8.53	7.53	7.95
EPS Growth %	11.03%	-0.74%	3.59%	-0.46%	-5.12%	1.44%	0.09%	0.06%	-0.12%	0.06%
EPS (Basic)	6.73	1.67	7.61	4.07	-16.65	7.48	8.15	8.62	7.60	8.03
Diluted Shares Outstanding	225.96M	221.6M	220.34M	211.84M	204.78M	208.47M	211.21M	204.59M	200.28M	193.9M
Basic Shares Outstanding	212.21M	218.38M	217.87M	210.16M	204.78M	205.92M	208.47M	202.51M	198.5M	193.9M
Dividend Payout Ratio	0.2%	0.88%	0.2%	0.4%	-	0.24%	0.23%	0.23%	0.28%	0.28%

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	22.85B	24.3B	25.89B	28.13B	33.06B	38.8B	39.59B	42.8B	47.72B	52.24B
Cash & Short-Term Investments	2.77B	2.44B	2.49B	3.37B	4.6B	2.55B	3.39B	2.59B	3.13B	4.36B
Cash Only	2.74B	2.44B	2.49B	3.37B	4.6B	2.55B	3.39B	2.59B	3.13B	4.36B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.18B	10.3B	11.31B	12.39B	14.33B	18.39B	18.63B	20.99B	23.96B	25.23B
Days Sales Outstanding	22.81	24.56	24.59	25.19	27.55	31.37	28.49	29.22	29.75	28.65
Inventory	10.72B	11.46B	11.92B	11.06B	12.59B	15.37B	15.56B	17.45B	19B	20.49B
Days Inventory Outstanding	27.36	28.08	26.55	23.06	24.82	27	24.58	25.04	24.31	24.06
Other Current Assets	0	0	0	1.15B	1.34B	1.64B	1.53B	1.76B	1.63B	2.17B
Total Non-Current Assets+	10.79B	11.01B	11.78B	11.04B	11.22B	18.54B	16.97B	19.76B	19.38B	24.35B
Property, Plant & Equipment	1.53B	1.8B	1.89B	1.77B	1.48B	2.16B	2.14B	2.14B	2.18B	2.54B
Fixed Asset Turnover	95.94x	85.18x	88.74x	101.43x	127.89x	98.93x	111.75x	122.79x	134.76x	126.56x
Goodwill	5.99B	6.04B	6.66B	6.71B	6.71B	9.03B	8.5B	9.57B	9.32B	13.68B
Intangible Assets	2.97B	2.83B	2.95B	2.29B	1.89B	5.26B	4.33B	4.43B	4B	3.77B
Long-Term Investments	0	0	0	0	0	0	0	0	66.64M	0
Other Non-Current Assets	295.63M	337.66M	270.94M	269.07M	779.85M	1.79B	1.76B	3.42B	3.57B	4.15B
Total Assets+	33.64B	35.32B	37.67B	39.17B	44.27B	57.34B	56.56B	62.56B	67.1B	76.59B
Asset Turnover	4.37x	4.34x	4.46x	4.58x	4.29x	3.73x	4.22x	4.19x	4.38x	4.20x
Asset Growth %	0.21%	0.05%	0.07%	0.04%	0.13%	0.3%	-0.01%	0.11%	0.07%	0.14%
Total Current Liabilities+	25.28B	26.82B	27.87B	29.58B	33.85B	41.36B	43.48B	48.83B	54.28B	57.82B
Accounts Payable	23.93B	25.4B	26.84B	28.39B	31.71B	38.01B	40.19B	45.84B	50.94B	54.72B
Days Payables Outstanding	61.04	62.23	59.79	59.18	62.52	66.79	63.51	65.76	65.18	64.25
Short-Term Debt	610.21M	12.12M	151.66M	139.01M	501.26M	300.21M	1.07B	641.34M	576.33M	117.78M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	0	0	192.07M	0	0	0	0
Current Ratio	0.90x	0.91x	0.93x	0.95x	0.98x	0.94x	0.91x	0.88x	0.88x	0.90x
Quick Ratio	0.48x	0.48x	0.50x	0.58x	0.60x	0.57x	0.55x	0.52x	0.53x	0.55x
Cash Conversion Cycle	-10.87	-9.6	-8.65	-10.94	-10.14	-8.42	-10.44	-11.5	-11.12	-11.54
Total Non-Current Liabilities+	6.23B	6.43B	6.75B	6.6B	11.26B	15.39B	13.01B	13.06B	12.04B	17.02B
Long-Term Debt	3.58B	3.43B	4.16B	4.03B	3.62B	6.38B	4.63B	4.15B	3.81B	7.54B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	2.21B	2.49B	1.83B	1.86B	686.49M	1.69B	1.62B	1.66B	1.64B	1.62B
Other Non-Current Liabilities	436.46M	511.3M	762.25M	703.4M	6.96B	7.33B	6.76B	7.26B	6.58B	7.86B
Total Liabilities	31.51B	33.25B	34.62B	36.18B	45.11B	56.75B	56.49B	61.89B	66.31B	74.84B
Total Debt+	4.19B	3.44B	4.31B	4.17B	4.12B	6.68B	5.7B	4.79B	4.39B	7.66B
Net Debt	1.44B	1.01B	1.82B	798.7M	-478.23M	4.14B	2.31B	2.2B	1.26B	3.3B
Debt / Equity	1.97x	1.67x	1.41x	1.39x	-	11.44x	80.01x	7.19x	5.58x	4.38x
Debt / EBITDA	2.02x	1.41x	2.00x	1.77x	1.70x	2.10x	1.65x	1.40x	1.06x	1.98x
Net Debt / EBITDA	0.70x	0.41x	0.85x	0.34x	-0.20x	1.30x	0.67x	0.64x	0.30x	0.85x
Interest Coverage	11.66x	13.54x	8.71x	9.55x	12.77x	14.65x	11.86x	8.88x	12.22x	7.24x
Total Equity+	2.13B	2.06B	3.05B	2.99B	-839.64M	584.41M	71.27M	666.29M	786.74M	1.75B
Equity Growth %	2.45%	-0.03%	0.48%	-0.02%	-1.28%	1.7%	-0.88%	8.35%	0.18%	1.22%
Book Value per Share	9.42	9.32	13.84	14.13	-4.10	2.80	0.34	3.26	3.93	9.01
Total Shareholders' Equity	2.13B	2.06B	2.93B	2.88B	-1.02B	223.35M	-211.56M	522M	645.94M	1.51B
Common Stock	2.78M	2.81M	2.84M	2.85M	2.88M	2.91M	2.93M	2.95M	2.96M	2.97M
Retained Earnings	2.3B	2.4B	3.72B	4.24B	518.34M	1.67B	2.98B	4.32B	5.42B	6.53B
Treasury Stock	-4.4B	-4.76B	-5.43B	-6.1B	-6.51B	-6.47B	-7.02B	-8.25B	-9.82B	-10.33B
Accumulated OCI	-114.31M	-95.85M	-79.25M	-111.97M	-108.83M	-445.44M	-1.83B	-1.4B	-989.12M	-901.38M
Minority Interest	0	0	117.14M	114.29M	179.29M	361.06M	282.83M	144.28M	140.8M	239.07M

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	3.18B	1.49B	1.41B	2.34B	2.21B	2.67B	2.7B	3.91B	3.48B	3.88B
Operating CF Margin %	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Operating CF Growth %	-0.19%	-0.53%	-0.05%	0.66%	-0.06%	0.21%	0.01%	0.45%	-0.11%	0.11%
Net Income	1.43B	364.48M	1.66B	854.13M	-3.4B	1.54B	1.67B	1.73B	1.52B	1.55B
Depreciation & Amortization	392.17M	422.92M	510.11M	497.51M	408.01M	514.79M	709.84M	963.9M	1.12B	1.05B
Stock-Based Compensation	64.99M	62.21M	62.32M	58.87M	74.41M	99.59M	93.4M	124.62M	148M	0
Deferred Taxes	-130.93M	319.07M	-795.52M	28.54M	-1.54B	334.87M	196.18M	-118.86M	-102.32M	0
Other Non-Cash Items	396.13M	-131.7M	178.17M	541.59M	4.75M	-194.59M	176.79M	334.55M	502.21M	1.23B
Working Capital Changes	1.03B	467.15M	-202.09M	363.38M	6.66B	367.32M	-139.66M	874.54M	298.69M	35.42M
Change in Receivables	-912.72M	-1.28B	-657.77M	-1.24B	-1.63B	-930.08M	-1.66B	-2.71B	-2.78B	-1.92B
Change in Inventory	-1.11B	-431.45M	-4.92M	-167.99M	-1.62B	-1.12B	-665.37M	-2.18B	-1.48B	-1.27B
Change in Payables	3.01B	1.47B	859.04M	1.56B	3.3B	2.05B	3.32B	6.1B	4.97B	3.69B
Cash from Investing+	-3.17B	-498.04M	-1.11B	-375.83M	-379.87M	-6.14B	-368.44M	-2.6B	-618.1M	-4.98B
Capital Expenditures	-464.62M	-466.4M	-336.41M	-310.22M	-369.68M	-438.22M	-496.32M	-458.36M	-487.17M	-667.98M
CapEx % of Revenue	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.12M	3.86M	10.6M	-1.66M	409.34M	22.3M	7.6M	9M	-30.72M	-17.44M
Cash from Financing+	565.07M	-1.31B	-242.87M	-1.09B	-603.62M	1.95B	-1.75B	-2.22B	-2.33B	2.25B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-288.48M	-320.27M	-333.04M	-338.97M	-343.58M	-366.65M	-391.69M	-398.75M	-416.17M	-437.08M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	2.41B	86.94M	-44.75M	-16.67M	126.06M	185.09M	-48.2M	-19.54M	-75.85M	-103.14M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2.71B	1.02B	1.07B	2.03B	1.84B	2.23B	2.21B	3.45B	3B	3.21B
FCF Margin %	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
FCF Growth %	-0.26%	-0.62%	0.05%	0.89%	-0.1%	0.21%	-0.01%	0.56%	-0.13%	0.07%
FCF per Share	12.01	4.61	4.88	9.60	8.97	10.69	10.45	16.88	14.97	16.54
FCF Conversion (FCF/Net Income)	2.23x	4.09x	0.85x	2.74x	-0.65x	1.73x	1.59x	2.24x	2.31x	2.49x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	104.01%	17.38%	64.85%	28.31%	-316.56%	263.5%	518.18%	473.26%	207.72%	122.67%
Return on Invested Capital (ROIC)	45.76%	45.55%	31.19%	32.33%	122.75%	117.9%	58.08%	69.93%	92.99%	59.45%
Gross Margin	2.57%	2.71%	2.45%	2.52%	2.52%	2.93%	3.19%	2.96%	2.96%	3.26%
Net Margin	0.97%	0.24%	0.99%	0.48%	-1.8%	0.72%	0.71%	0.67%	0.51%	0.48%
Debt / Equity	1.97x	1.67x	1.41x	1.39x	-	11.44x	80.01x	7.19x	5.58x	4.38x
Interest Coverage	11.66x	13.54x	8.71x	9.55x	12.77x	14.65x	11.86x	8.88x	12.22x	7.24x
FCF Conversion	2.23x	4.09x	0.85x	2.74x	-0.65x	1.73x	1.59x	2.24x	2.31x	2.49x
Revenue Growth	8.01%	4.29%	9.66%	6.94%	5.74%	12.69%	11.5%	9.89%	12.12%	9.31%

Revenue by Segment

	2018	2019	2020	2024	2025
Rental Power And Related Revenue	-	485.13M	512.34M	-	-
Rental Power And Related Revenue Growth	-	-	5.61%	-	-
Office Light Industrial And Other Revenue	-	11.85M	10.41M	-	-
Office Light Industrial And Other Revenue Growth	-	-	-12.13%	-	-
Interconnection Revenue	69.71M	-	-	-	-
Interconnection Revenue Growth	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2024	2025
U.S. Healthcare Solutions	-	-	-	265.34B	290.98B
U.S. Healthcare Solutions Growth	-	-	-	-	9.66%
International Healthcare Solutions	-	-	-	28.63B	30.37B
International Healthcare Solutions Growth	-	-	-	-	6.07%

Frequently Asked Questions

Valuation & Price

Cencora, Inc. (COR) has a price-to-earnings (P/E) ratio of 44.7x. This suggests investors expect higher future growth.

Growth & Financials

Cencora, Inc. (COR) reported $321.33B in revenue for fiscal year 2025. This represents a 304% increase from $79.49B in 2012.

Cencora, Inc. (COR) grew revenue by 9.3% over the past year. This is steady growth.

Yes, Cencora, Inc. (COR) is profitable, generating $1.55B in net income for fiscal year 2025 (0.5% net margin).

Dividend & Returns

Yes, Cencora, Inc. (COR) pays a dividend with a yield of 0.63%. This makes it attractive for income-focused investors.

Cencora, Inc. (COR) has a return on equity (ROE) of 122.7%. This is excellent, indicating efficient use of shareholder capital.

Cencora, Inc. (COR) generated $3.21B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Cencora, Inc. (COR) 10-Year Financial Performance & Capital Metrics

COR • • Industrial / General

HealthcareMedical DistributionPharmaceutical DistributionBroadline Pharmaceutical Distributors

Revenue $321.33B +9.3%
EBITDA $3.87B -6.8%
Net Income $1.55B +3.0%
EPS (Diluted) 7.95 +5.6%
Gross Margin 3.26% +10.3%
EBITDA Margin 1.2% -14.8%
Operating Margin 0.88% -15.4%
Net Margin 0.48% -5.8%
ROE 122.67% -40.9%
ROIC 59.45% -36.1%
Debt/Equity 4.38 -21.4%
Interest Coverage 7.24 -40.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 267.9%
✓24 consecutive years of dividend growth
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.1%
✓Share count reduced 3.2% through buybacks
✓Efficient asset utilization: 4.2x turnover

✗Weaknesses

✗High debt to equity ratio of 4.4x
✗Thin 5Y average net margin of 0.6%
✗Expensive at 39.4x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.98%

5Y11.09%

3Y10.43%

TTM9.31%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-2.92%

TTM2.99%

EPS CAGR

10Y-

5Y-

3Y-0.39%

TTM5.96%

ROCE

10Y Avg20.28%

5Y Avg19.63%

3Y Avg19.65%

Latest17.8%

Peer Comparison

Broadline Pharmaceutical Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CORCencora, Inc.	68.94B	355.35	44.70	9.31%	0.48%	88.96%	4.65%	4.38
CAHCardinal Health, Inc.	50.72B	213.46	33.09	-1.87%	0.68%		3.65%
MCKMcKesson Corporation	104.19B	844.13	32.82	16.22%	1.04%		5.02%

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	146.85B	153.14B	167.94B	179.59B	189.89B	213.99B	238.59B	262.17B	293.96B	321.33B
Revenue Growth %	0.08%	0.04%	0.1%	0.07%	0.06%	0.13%	0.11%	0.1%	0.12%	0.09%
Cost of Goods Sold+	143.08B	149B	163.83B	175.06B	185.1B	207.72B	230.99B	254.42B	285.26B	310.84B
COGS % of Revenue	0.97%	0.97%	0.98%	0.97%	0.97%	0.97%	0.97%	0.97%	0.97%	0.97%
Gross Profit+	3.77B	4.15B	4.11B	4.53B	4.79B	6.27B	7.6B	7.76B	8.7B	10.49B
Gross Margin %	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
Gross Profit Growth %	0.17%	0.1%	-0.01%	0.1%	0.06%	0.31%	0.21%	0.02%	0.12%	0.21%
Operating Expenses+	2.09B	2.13B	2.46B	2.66B	2.77B	3.59B	4.85B	5.31B	5.66B	7.68B
OpEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%
Selling, General & Admin	2.09B	2.13B	2.46B	2.66B	2.77B	3.59B	4.85B	5.31B	5.66B	6.49B
SG&A % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	1.19B
Operating Income+	1.68B	2.02B	1.65B	1.87B	2.02B	2.68B	2.75B	2.45B	3.04B	2.81B
Operating Margin %	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Operating Income Growth %	0.29%	0.2%	-0.18%	0.13%	0.08%	0.32%	0.03%	-0.11%	0.24%	-0.08%
EBITDA+	2.07B	2.44B	2.15B	2.36B	2.43B	3.18B	3.45B	3.42B	4.15B	3.87B
EBITDA Margin %	0.01%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
EBITDA Growth %	0.33%	0.18%	-0.12%	0.1%	0.03%	0.31%	0.08%	-0.01%	0.21%	-0.07%
D&A (Non-Cash Add-back)	385.03M	422.92M	499.64M	488.54M	401.62M	505.17M	697.94M	972.39M	1.11B	1.06B
EBIT	1.54B	1.07B	1.37B	1.16B	-5.14B	2.4B	2.42B	2.44B	2.25B	2.65B
Net Interest Income+	-139.91M	-145.19M	-174.7M	-157.77M	-137.88M	-174.07M	-210.67M	-228.93M	-156.99M	-291.55M
Interest Income	4.44M	3.86M	14.94M	37.7M	20.64M	8.47M	21.31M	46.72M	91.69M	96.68M
Interest Expense	144.35M	149.04M	189.64M	195.47M	158.52M	182.54M	231.98M	275.65M	248.68M	388.23M
Other Income/Expense	-291.97M	-1.1B	-473.53M	-899.42M	-7.32B	-453.15M	-568.62M	-285.68M	-1.04B	-553.25M
Pretax Income+	1.39B	917.89M	1.18B	967.11M	-5.29B	2.22B	2.18B	2.16B	2B	2.26B
Pretax Margin %	0.01%	0.01%	0.01%	0.01%	-0.03%	0.01%	0.01%	0.01%	0.01%	0.01%
Income Tax+	-37.02M	553.4M	-438.47M	112.97M	-1.89B	677.25M	516.52M	428.26M	484.7M	690.52M
Effective Tax Rate %	1.03%	0.4%	1.41%	0.88%	0.64%	0.69%	0.78%	0.81%	0.75%	0.69%
Net Income+	1.43B	364.48M	1.66B	855.37M	-3.41B	1.54B	1.7B	1.75B	1.51B	1.55B
Net Margin %	0.01%	0%	0.01%	0%	-0.02%	0.01%	0.01%	0.01%	0.01%	0%
Net Income Growth %	11.33%	-0.74%	3.55%	-0.48%	-4.99%	1.45%	0.1%	0.03%	-0.14%	0.03%
Net Income (Continuing)	1.43B	364.48M	1.62B	854.13M	-3.4B	1.54B	1.67B	1.73B	1.52B	1.57B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	117.14M	114.29M	179.29M	361.06M	282.83M	144.28M	140.8M	239.07M
EPS (Diluted)+	6.32	1.64	7.53	4.04	-16.65	7.39	8.04	8.53	7.53	7.95
EPS Growth %	11.03%	-0.74%	3.59%	-0.46%	-5.12%	1.44%	0.09%	0.06%	-0.12%	0.06%
EPS (Basic)	6.73	1.67	7.61	4.07	-16.65	7.48	8.15	8.62	7.60	8.03
Diluted Shares Outstanding	225.96M	221.6M	220.34M	211.84M	204.78M	208.47M	211.21M	204.59M	200.28M	193.9M
Basic Shares Outstanding	212.21M	218.38M	217.87M	210.16M	204.78M	205.92M	208.47M	202.51M	198.5M	193.9M
Dividend Payout Ratio	0.2%	0.88%	0.2%	0.4%	-	0.24%	0.23%	0.23%	0.28%	0.28%

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	22.85B	24.3B	25.89B	28.13B	33.06B	38.8B	39.59B	42.8B	47.72B	52.24B
Cash & Short-Term Investments	2.77B	2.44B	2.49B	3.37B	4.6B	2.55B	3.39B	2.59B	3.13B	4.36B
Cash Only	2.74B	2.44B	2.49B	3.37B	4.6B	2.55B	3.39B	2.59B	3.13B	4.36B
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	9.18B	10.3B	11.31B	12.39B	14.33B	18.39B	18.63B	20.99B	23.96B	25.23B
Days Sales Outstanding	22.81	24.56	24.59	25.19	27.55	31.37	28.49	29.22	29.75	28.65
Inventory	10.72B	11.46B	11.92B	11.06B	12.59B	15.37B	15.56B	17.45B	19B	20.49B
Days Inventory Outstanding	27.36	28.08	26.55	23.06	24.82	27	24.58	25.04	24.31	24.06
Other Current Assets	0	0	0	1.15B	1.34B	1.64B	1.53B	1.76B	1.63B	2.17B
Total Non-Current Assets+	10.79B	11.01B	11.78B	11.04B	11.22B	18.54B	16.97B	19.76B	19.38B	24.35B
Property, Plant & Equipment	1.53B	1.8B	1.89B	1.77B	1.48B	2.16B	2.14B	2.14B	2.18B	2.54B
Fixed Asset Turnover	95.94x	85.18x	88.74x	101.43x	127.89x	98.93x	111.75x	122.79x	134.76x	126.56x
Goodwill	5.99B	6.04B	6.66B	6.71B	6.71B	9.03B	8.5B	9.57B	9.32B	13.68B
Intangible Assets	2.97B	2.83B	2.95B	2.29B	1.89B	5.26B	4.33B	4.43B	4B	3.77B
Long-Term Investments	0	0	0	0	0	0	0	0	66.64M	0
Other Non-Current Assets	295.63M	337.66M	270.94M	269.07M	779.85M	1.79B	1.76B	3.42B	3.57B	4.15B
Total Assets+	33.64B	35.32B	37.67B	39.17B	44.27B	57.34B	56.56B	62.56B	67.1B	76.59B
Asset Turnover	4.37x	4.34x	4.46x	4.58x	4.29x	3.73x	4.22x	4.19x	4.38x	4.20x
Asset Growth %	0.21%	0.05%	0.07%	0.04%	0.13%	0.3%	-0.01%	0.11%	0.07%	0.14%
Total Current Liabilities+	25.28B	26.82B	27.87B	29.58B	33.85B	41.36B	43.48B	48.83B	54.28B	57.82B
Accounts Payable	23.93B	25.4B	26.84B	28.39B	31.71B	38.01B	40.19B	45.84B	50.94B	54.72B
Days Payables Outstanding	61.04	62.23	59.79	59.18	62.52	66.79	63.51	65.76	65.18	64.25
Short-Term Debt	610.21M	12.12M	151.66M	139.01M	501.26M	300.21M	1.07B	641.34M	576.33M	117.78M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	0	0	192.07M	0	0	0	0
Current Ratio	0.90x	0.91x	0.93x	0.95x	0.98x	0.94x	0.91x	0.88x	0.88x	0.90x
Quick Ratio	0.48x	0.48x	0.50x	0.58x	0.60x	0.57x	0.55x	0.52x	0.53x	0.55x
Cash Conversion Cycle	-10.87	-9.6	-8.65	-10.94	-10.14	-8.42	-10.44	-11.5	-11.12	-11.54
Total Non-Current Liabilities+	6.23B	6.43B	6.75B	6.6B	11.26B	15.39B	13.01B	13.06B	12.04B	17.02B
Long-Term Debt	3.58B	3.43B	4.16B	4.03B	3.62B	6.38B	4.63B	4.15B	3.81B	7.54B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	2.21B	2.49B	1.83B	1.86B	686.49M	1.69B	1.62B	1.66B	1.64B	1.62B
Other Non-Current Liabilities	436.46M	511.3M	762.25M	703.4M	6.96B	7.33B	6.76B	7.26B	6.58B	7.86B
Total Liabilities	31.51B	33.25B	34.62B	36.18B	45.11B	56.75B	56.49B	61.89B	66.31B	74.84B
Total Debt+	4.19B	3.44B	4.31B	4.17B	4.12B	6.68B	5.7B	4.79B	4.39B	7.66B
Net Debt	1.44B	1.01B	1.82B	798.7M	-478.23M	4.14B	2.31B	2.2B	1.26B	3.3B
Debt / Equity	1.97x	1.67x	1.41x	1.39x	-	11.44x	80.01x	7.19x	5.58x	4.38x
Debt / EBITDA	2.02x	1.41x	2.00x	1.77x	1.70x	2.10x	1.65x	1.40x	1.06x	1.98x
Net Debt / EBITDA	0.70x	0.41x	0.85x	0.34x	-0.20x	1.30x	0.67x	0.64x	0.30x	0.85x
Interest Coverage	11.66x	13.54x	8.71x	9.55x	12.77x	14.65x	11.86x	8.88x	12.22x	7.24x
Total Equity+	2.13B	2.06B	3.05B	2.99B	-839.64M	584.41M	71.27M	666.29M	786.74M	1.75B
Equity Growth %	2.45%	-0.03%	0.48%	-0.02%	-1.28%	1.7%	-0.88%	8.35%	0.18%	1.22%
Book Value per Share	9.42	9.32	13.84	14.13	-4.10	2.80	0.34	3.26	3.93	9.01
Total Shareholders' Equity	2.13B	2.06B	2.93B	2.88B	-1.02B	223.35M	-211.56M	522M	645.94M	1.51B
Common Stock	2.78M	2.81M	2.84M	2.85M	2.88M	2.91M	2.93M	2.95M	2.96M	2.97M
Retained Earnings	2.3B	2.4B	3.72B	4.24B	518.34M	1.67B	2.98B	4.32B	5.42B	6.53B
Treasury Stock	-4.4B	-4.76B	-5.43B	-6.1B	-6.51B	-6.47B	-7.02B	-8.25B	-9.82B	-10.33B
Accumulated OCI	-114.31M	-95.85M	-79.25M	-111.97M	-108.83M	-445.44M	-1.83B	-1.4B	-989.12M	-901.38M
Minority Interest	0	0	117.14M	114.29M	179.29M	361.06M	282.83M	144.28M	140.8M	239.07M

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	3.18B	1.49B	1.41B	2.34B	2.21B	2.67B	2.7B	3.91B	3.48B	3.88B
Operating CF Margin %	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Operating CF Growth %	-0.19%	-0.53%	-0.05%	0.66%	-0.06%	0.21%	0.01%	0.45%	-0.11%	0.11%
Net Income	1.43B	364.48M	1.66B	854.13M	-3.4B	1.54B	1.67B	1.73B	1.52B	1.55B
Depreciation & Amortization	392.17M	422.92M	510.11M	497.51M	408.01M	514.79M	709.84M	963.9M	1.12B	1.05B
Stock-Based Compensation	64.99M	62.21M	62.32M	58.87M	74.41M	99.59M	93.4M	124.62M	148M	0
Deferred Taxes	-130.93M	319.07M	-795.52M	28.54M	-1.54B	334.87M	196.18M	-118.86M	-102.32M	0
Other Non-Cash Items	396.13M	-131.7M	178.17M	541.59M	4.75M	-194.59M	176.79M	334.55M	502.21M	1.23B
Working Capital Changes	1.03B	467.15M	-202.09M	363.38M	6.66B	367.32M	-139.66M	874.54M	298.69M	35.42M
Change in Receivables	-912.72M	-1.28B	-657.77M	-1.24B	-1.63B	-930.08M	-1.66B	-2.71B	-2.78B	-1.92B
Change in Inventory	-1.11B	-431.45M	-4.92M	-167.99M	-1.62B	-1.12B	-665.37M	-2.18B	-1.48B	-1.27B
Change in Payables	3.01B	1.47B	859.04M	1.56B	3.3B	2.05B	3.32B	6.1B	4.97B	3.69B
Cash from Investing+	-3.17B	-498.04M	-1.11B	-375.83M	-379.87M	-6.14B	-368.44M	-2.6B	-618.1M	-4.98B
Capital Expenditures	-464.62M	-466.4M	-336.41M	-310.22M	-369.68M	-438.22M	-496.32M	-458.36M	-487.17M	-667.98M
CapEx % of Revenue	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.12M	3.86M	10.6M	-1.66M	409.34M	22.3M	7.6M	9M	-30.72M	-17.44M
Cash from Financing+	565.07M	-1.31B	-242.87M	-1.09B	-603.62M	1.95B	-1.75B	-2.22B	-2.33B	2.25B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-288.48M	-320.27M	-333.04M	-338.97M	-343.58M	-366.65M	-391.69M	-398.75M	-416.17M	-437.08M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	2.41B	86.94M	-44.75M	-16.67M	126.06M	185.09M	-48.2M	-19.54M	-75.85M	-103.14M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	2.71B	1.02B	1.07B	2.03B	1.84B	2.23B	2.21B	3.45B	3B	3.21B
FCF Margin %	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
FCF Growth %	-0.26%	-0.62%	0.05%	0.89%	-0.1%	0.21%	-0.01%	0.56%	-0.13%	0.07%
FCF per Share	12.01	4.61	4.88	9.60	8.97	10.69	10.45	16.88	14.97	16.54
FCF Conversion (FCF/Net Income)	2.23x	4.09x	0.85x	2.74x	-0.65x	1.73x	1.59x	2.24x	2.31x	2.49x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	104.01%	17.38%	64.85%	28.31%	-316.56%	263.5%	518.18%	473.26%	207.72%	122.67%
Return on Invested Capital (ROIC)	45.76%	45.55%	31.19%	32.33%	122.75%	117.9%	58.08%	69.93%	92.99%	59.45%
Gross Margin	2.57%	2.71%	2.45%	2.52%	2.52%	2.93%	3.19%	2.96%	2.96%	3.26%
Net Margin	0.97%	0.24%	0.99%	0.48%	-1.8%	0.72%	0.71%	0.67%	0.51%	0.48%
Debt / Equity	1.97x	1.67x	1.41x	1.39x	-	11.44x	80.01x	7.19x	5.58x	4.38x
Interest Coverage	11.66x	13.54x	8.71x	9.55x	12.77x	14.65x	11.86x	8.88x	12.22x	7.24x
FCF Conversion	2.23x	4.09x	0.85x	2.74x	-0.65x	1.73x	1.59x	2.24x	2.31x	2.49x
Revenue Growth	8.01%	4.29%	9.66%	6.94%	5.74%	12.69%	11.5%	9.89%	12.12%	9.31%

Revenue by Segment

	2018	2019	2020	2024	2025
Rental Power And Related Revenue	-	485.13M	512.34M	-	-
Rental Power And Related Revenue Growth	-	-	5.61%	-	-
Office Light Industrial And Other Revenue	-	11.85M	10.41M	-	-
Office Light Industrial And Other Revenue Growth	-	-	-12.13%	-	-
Interconnection Revenue	69.71M	-	-	-	-
Interconnection Revenue Growth	-	-	-	-	-

Revenue by Geography

	2018	2019	2020	2024	2025
U.S. Healthcare Solutions	-	-	-	265.34B	290.98B
U.S. Healthcare Solutions Growth	-	-	-	-	9.66%
International Healthcare Solutions	-	-	-	28.63B	30.37B
International Healthcare Solutions Growth	-	-	-	-	6.07%

Frequently Asked Questions

Valuation & Price

Cencora, Inc. (COR) has a price-to-earnings (P/E) ratio of 44.7x. This suggests investors expect higher future growth.

Growth & Financials

Cencora, Inc. (COR) reported $321.33B in revenue for fiscal year 2025. This represents a 304% increase from $79.49B in 2012.

Cencora, Inc. (COR) grew revenue by 9.3% over the past year. This is steady growth.

Yes, Cencora, Inc. (COR) is profitable, generating $1.55B in net income for fiscal year 2025 (0.5% net margin).

Dividend & Returns

Yes, Cencora, Inc. (COR) pays a dividend with a yield of 0.63%. This makes it attractive for income-focused investors.

Cencora, Inc. (COR) has a return on equity (ROE) of 122.7%. This is excellent, indicating efficient use of shareholder capital.

Cencora, Inc. (COR) generated $3.21B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.