Upside case
Bull case
$699+157.2%
COR would need investors to value it at roughly 39x earnings — about 24x more generous than today's 15x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Cencora, Inc. (COR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
46
analysts
33 bullish · 1 bearish · 46 covering COR
Strong Buy
0
Buy
33
Hold
12
Sell
1
Strong Sell
0
Consensus Target
$379
+39.3% vs today
Scenario Range
$334 – $699
Model bear to bull value window
Coverage
46
Published analyst ratings
Valuation Context
15.3x
Forward P/E · Market cap $52.9B
COR price targets
Three scenarios for where COR stock could go
Current
~$272
Confidence
49 / 100
Updated
Jun 18, 2026
Where we are now
Current · $272
Bear
$334
Base
$531
Bull
$699
Market caseClosest to today
Base case
$531+95.2%
At 30x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$334+23.0%
The bear case assumes sentiment or fundamentals disappoint enough to push COR down roughly 23% from the current price.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Cencora, Inc.
COR · NYSEHealthcareMedical - DistributionSeptember year-end
Cencora is a global pharmaceutical distribution and healthcare services company that connects manufacturers with healthcare providers. It generates revenue primarily through pharmaceutical distribution—which accounts for the vast majority of sales—alongside specialty pharmacy services, animal health products, and consulting services for healthcare providers. The company's competitive advantage lies in its massive scale, sophisticated logistics network, and deep relationships across the pharmaceutical supply chain that create significant barriers to entry.
Market Cap
$52.9B
Revenue TTM
$328.7B
Net Income TTM
$2.5B
Net Margin
0.8%
COR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
91%Exceptional
12 quarters tracked
Revenue Beat Rate
64%Exceptional
vs consensus estimates
Avg EPS Surprise
+4.0%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 2025
EPS
$4.00/$3.85
Revenue
$80.7B/$80.1B
Q4 2025
EPS
$3.84/$3.79
Revenue
$83.7B/$83.5B
Q1 2026
EPS
$4.08/$4.05
Revenue
$85.9B/$86.1B
Q2 2026
EPS
$4.75/$4.82
Revenue
$78.4B/$81.1B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $4.00/$3.85 | +3.9% | $80.7B/$80.1B | +0.7% |
| Q4 2025 | $3.84/$3.79 | +1.3% | $83.7B/$83.5B | +0.3% |
| Q1 2026 | $4.08/$4.05 | +0.7% | $85.9B/$86.1B | -0.1% |
| Q2 2026 | $4.75/$4.82 | -1.5% | $78.4B/$81.1B | -3.4% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$350.6B
+6.7% YoY
FY2
$365.2B
+4.2% YoY
EPS Outlook
FY1
$14.33
+9.9% YoY
FY2
$15.00
+4.6% YoY
Trailing FCF (TTM)$1.6B
FCF Margin: 0.5%
Next Earnings
August 5, 2026
Expected EPS
$4.37
Expected Revenue
$84.4B
COR beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
COR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $321.3B
Product Mix
Latest annual revenue by segment or product family
Pharmaceutical Distribution
88.8%
+9.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
U.S. Healthcare Solutions
90.6%
+9.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Pharmaceutical Distribution is the largest disclosed segment at 88.8% of FY 2025 revenue, up 9.7% YoY.
U.S. Healthcare Solutions is the largest reported region at 90.6%, up 9.7% YoY.
COR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fair versus peers
Fair value est. $269 — implies -0.9% from today's price.
Premium to Fair Value
0.9%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
COR
34.1x
vs
S&P 500
24.4x
+40% premium
vs Healthcare Trailing P/E
COR
34.1x
vs
Healthcare
22.1x
+54% premium
vs COR 5Y Avg P/E
Today
34.1x
vs
5Y Average
24.6x
+39% premium
Forward PE
15.3x
S&P 500
18.8x
-19%
Healthcare
18.3x
-16%
5Y Avg
—
—
Trailing PE
34.1x
S&P 500
24.4x
+40%
Healthcare
22.1x
+54%
5Y Avg
24.6x
+39%
PEG Ratio
—
S&P 500
1.66x
—
Healthcare
1.59x
—
5Y Avg
—
—
EV/EBITDA
12.6x
S&P 500
15.2x
-17%
Healthcare
14.2x
-11%
5Y Avg
11.4x
+10%
Price/FCF
16.5x
S&P 500
20.7x
-20%
Healthcare
18.5x
-11%
5Y Avg
13.8x
+20%
Price/Sales
0.2x
S&P 500
3.1x
-95%
Healthcare
2.6x
-94%
5Y Avg
0.1x
+14%
Dividend Yield
0.82%
S&P 500
1.91%
-57%
Healthcare
1.50%
-45%
5Y Avg
1.11%
-26%
| Metric | COR | S&P 500 | Healthcare | 5Y Avg COR |
|---|---|---|---|---|
| Forward PE | 15.3x | 18.8x-19% | 18.3x-16% | — |
| Trailing PE | 34.1x | 24.4x+40% | 22.1x+54% | 24.6x+39% |
| PEG Ratio | — | 1.66x | 1.59x | — |
| EV/EBITDA | 12.6x | 15.2x-17% | 14.2x-11% | 11.4x+10% |
| Price/FCF | 16.5x | 20.7x-20% | 18.5x-11% | 13.8x+20% |
| Price/Sales | 0.2x | 3.1x-95% | 2.6x-94% | 0.1x+14% |
| Dividend Yield | 0.82% | 1.91% | 1.50% | 1.11% |
COR trades above S&P 500 benchmarks on 1 of 5 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolCOR Financial Health
Verdict
Adequate
COR 44.5% ROIC signals a durable competitive advantage — returns 1.6% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$328.7B
Revenue Growth
TTM vs prior year
+5.9%
Gross Margin
Gross profit as a share of revenue
3.5%
Operating Margin
Operating income divided by revenue
1.2%
Net Margin
Net income divided by revenue
0.8%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$13.04
Free Cash Flow (TTM)
Cash generation after capex
$1.6B
FCF Margin
FCF as share of revenue — the primary cash quality signal
0.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
44.5%
ROA
Return on assets, trailing twelve months
3.3%
Cash & Equivalents
Liquid assets on the balance sheet
$4.4B
Net Debt
Total debt minus cash
$6.4B
Debt Serviceability
Net debt as a multiple of annual free cash flow
4.1× FCF
~4.1 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
105.8%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
1.6%
Dividend
0.8%
Buyback
0.8%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$435M
Dividend / Share
Annualized trailing dividend per share
$2.24
Payout Ratio
Share of earnings distributed as dividends
28.1%
Shares Outstanding
Declining as buybacks retire shares
195M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageCOR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 17, 2026
High Risk
Legal & Regulatory
Cencora has reported 31 risks, with Legal & Regulatory being the top risk category, indicating significant exposure to compliance and legal challenges.
Medium
Financial Health
While revenue and EPS have shown growth, a deep dive into Cencora's financial health is recommended to assess underlying risks and sustainability.
Lower
Operational Risks
As a large pharmaceutical sourcing and distribution company with 51,000 employees, Cencora faces inherent operational risks, though these are mitigated by scale.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why COR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 17, 2026
Strong revenue growth
Cencora reported year-over-year revenue increases of 3.8% and 5.5% in recent quarters, demonstrating consistent top-line growth.
Earnings per share surge
GAAP diluted EPS significantly improved year-over-year, from $3.68 to $8.40 in the most recent quarter.
Opportunistic share repurchases
The company has updated its financial guidance due to recent share repurchases, indicating active capital management.
Analyst buy rating
A research firm maintained its Buy rating on Cencora stock, reflecting positive analyst sentiment.
Bullish independent analysis
A bullish thesis on Cencora was published by Hidden Market Gems, highlighting potential undervaluation or growth prospects.
Long-term financial transparency
MarketBeat offers complete SEC filings through 2026, providing investors with extensive financial data for analysis.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
COR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$271.83
52W Range Position
20%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$244.82
+11.0% from the low
52-Week High
$377.54
-28.0% from the high
1 Month
+3.80%
3 Month
-16.41%
YTD
-19.8%
1 Year
-8.4%
3Y CAGR
+13.8%
5Y CAGR
+18.9%
10Y CAGR
+13.5%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
COR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
15.3x
vs 14.9x median
+2% above peer median
Revenue Growth
+6.7%
vs +5.9% median
+13% above peer median
Net Margin
0.8%
vs 0.7% median
+8% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
COR COR Cencora, Inc. | $52.9B | 15.3x | +6.7% | 0.8% | Buy | +39.3% |
MCK MCK McKesson Corporation | $90.2B | 17.0x | +7.8% | 1.2% | Buy | +32.5% |
CAH CAH Cardinal Health, Inc. | $52.2B | 20.6x | +6.0% | 0.6% | Buy | +14.3% |
OMI OMI Owens & Minor, Inc. | $171M | 2.3x | -1.0% | -39.8% | Hold | +596.4% |
HSI HSIC Henry Schein, Inc. | $9.2B | 14.9x | +5.5% | 3.0% | Buy | +9.4% |
CVS CVS CVS Health Corporation | $125.4B | 13.3x | +5.9% | 0.7% | Buy | +5.4% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
COR Dividend and Capital Return
COR returns 1.6% total yield, led by a 0.82% dividend, raised 9 consecutive years. Buybacks add another 0.8%.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
1.6%
Dividend + buyback return per year
Buyback Yield
0.8%
Dividend Yield
0.82%
Payout Ratio
28.1%
How COR Splits Its Return
Div 0.82%
Buyback 0.8%
Dividend 0.82%Buybacks 0.8%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$2.24
Growth Streak
Consecutive years of dividend increases
9Y
3Y Div CAGR
6.5%
5Y Div CAGR
5.8%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$435M
Estimated Shares Retired
2M
Approx. Share Reduction
0.8%
Shares Outstanding
Current diluted share count from the screening snapshot
195M
At 0.8%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $1.20 | — | — | — |
| 2025 | $2.25 | +8.2% | 0.7% | 1.4% |
| 2024 | $2.08 | +5.9% | 3.3% | 4.2% |
| 2023 | $1.97 | +5.4% | 3.2% | 4.3% |
| 2022 | $1.87 | +4.8% | 1.7% | 3.1% |
FAQ
7 questionsCOR Investor Questions
Common questions answered from live analyst data and company financials.
01Is Cencora, Inc. (COR) stock a buy or sell in 2026?
Cencora, Inc. (COR) is rated Buy by Wall Street analysts as of 2026. Of 46 analysts covering the stock, 33 rate it Buy or Strong Buy, 12 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $379, implying +39.3% from the current price of $272. The bear case scenario is $334 and the bull case is $699.
02What is the COR stock price target for 2026?
The Wall Street consensus price target for COR is $379 based on 46 analyst estimates. The high-end target is $440 (+61.9% from today), and the low-end target is $331 (+21.8%). The base case model target is $531.
03Is Cencora, Inc. (COR) stock overvalued in 2026?
COR trades at 15.3x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals fair versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Cencora, Inc. (COR) stock in 2026?
The primary risks for COR in 2026 are: (1) Legal & Regulatory — Cencora has reported 31 risks, with Legal & Regulatory being the top risk category, indicating significant exposure to compliance and legal challenges. (2) Financial Health — While revenue and EPS have shown growth, a deep dive into Cencora's financial health is recommended to assess underlying risks and sustainability. (3) Operational Risks — As a large pharmaceutical sourcing and distribution company with 51,000 employees, Cencora faces inherent operational risks, though these are mitigated by scale. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Cencora, Inc.'s revenue and earnings forecast?
Analyst consensus estimates COR will report consensus revenue of $350.6B (+6.7% year-over-year) and EPS of $14.33 (+9.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $365.2B in revenue.
06When does Cencora, Inc. (COR) report its next earnings?
Cencora, Inc. is expected to report its next earnings on approximately 2026-08-05. Consensus expects EPS of $4.37 and revenue of $84.4B. Over recent quarters, COR has beaten EPS estimates 91% of the time.
07How much free cash flow does Cencora, Inc. generate?
Cencora, Inc. (COR) generated $1.6B in free cash flow over the trailing twelve months — a free cash flow margin of 0.5%. COR returns capital to shareholders through dividends (0.8% yield) and share repurchases ($435M TTM).