Cencora is one of three leading domestic pharmaceutical wholesalers. It sources and distributes branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospital networks, and healthcare providers.
It is a $61.8B healthcare company. Revenue grew 5.1% over the last year, it keeps 1¢ of every dollar of sales as profit, and its net debt equals ~0.8 years of free cash flow. It trades at 23.5× earnings — in the cheapest third of its own history.
- Website
- cencora.com
- Location
- Conshohocken, PA
- Employees
- 51 000
- Sector
- Healthcare
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation and quality.
Valuation82
- P/E vs own history17th pct · 25/25
- FCF yield6.6% · 20/25
- P/S0.2x · 25/25
- EV/EBITDA17.3x · 12/25
Growth57
- Revenue CAGR10.7% · 20/25
- Net income CAGR0.2% · 6/25
- EPS CAGR ~5Y1.9% · 6/25
- Fwd implied growth47.8% · 25/25
Profitability61
- ROIC32.3% · 25/25
- ROE106.4% · 25/25
- Net margin0.8% · 6/25
- Operating margin0.9% · 5/25
Health69
- Altman Z3.66 · 25/25
- Current ratio0.93 · 6/25
- Interest coverage8.6x · 18/25
- Net cash / debtD/A 4% · 20/25
Quality92
- Piotroski F7/9 · 22/25
- Beneish M-2.70 · 25/25
- FCF conversion155% · 25/25
- Margin stabilityσ 5.2% · 20/25
Moat62
- ROIC >12% years5/5 yrs · 25/25
- Median gross margin3.4% · 0/25
- FCF-positive years5/5 yrs · 25/25
- Worst-year net marginworst 0.5% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- Q2 2026Insiders3 open-market insider purchases~9K shares bought by insiders
- FY2023FinancialBest year on record$1.75B net income
- 2023MilestoneIt was renamed to Cencora in 2023
- FY2021FinancialProfitable every year on record5 consecutive profitable years in our data
- FY2021FinancialRevenue already above $100B$214B in first reported year
- FY2021FinancialPositive free cash flow every year since5-year streak
- Jan 3, 2018AcquisitionIn October, they agreed to buy PharMEDium, a compounding drug company, for $2.58 billion
- 2011AcquisitionThe company acquired IntrinsiQ for $35 million and Premier Source for an undisclosed amount
- 2001AcquisitionCencora, Inc., formerly known as AmerisourceBergen, is an American drug wholesale and distribution company and a…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Interest covered 8.6× by operating earnings
- High returns on invested capital (ROIC 32.3%)
- Piotroski F-Score 7/9 — fundamentally strong checklist
- Altman Z-Score 3.66 — low bankruptcy-risk zone
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+5.1% YoY
- Profitable — makes more than it spends$2.62B TTM
- Profit growing — earnings are higher than last year-0.4% YoY
- Generates cash — cash left after running and investing$4.06B TTM
- Debt under control — could handle its obligations~0.8y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$61.8B market cap
- Not printing shares — share count not ballooning — you keep your slice-6.3% shares over ~5y
- Proven track record — years of profitability behind it5/5 profitable years
- Financially stable — balance sheet not near distressAltman Z 3.7 — safe
- Pays a dividend — returns cash to shareholdersyield 0.76%
- Valuation not extreme — price not wildly above earningsP/E 23.5
Peer comparisonCencora, Inc. vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| COR this company | $61.8B | 23.5 | +5.1% | 0.8% | Solid |
| LLY Eli Lilly & Co. | $1.0T | 41.6 | +49.6% | 33.5% | Solid |
| JNJ Johnson & Johnson | $630.9B | 29.9 | +8.1% | 21.5% | Mixed |
| ABBV Abbvie Inc. | $488.5B | 77.4 | +10.4% | 9.8% | Mixed |
| MRK Merck & Co., Inc. | $361.0B | 113.2 | +4.6% | 4.8% | Mixed |
| UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) | $340.7B | 24.1 | +6.5% | 3.1% | Mixed |
| NVS Novartis AG | $273.2B | 20.3 | +9.6% | 24.7% | Solid |
Head-to-head: COR vs LLY · COR vs JNJ · COR vs ABBV
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/COR
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Deeper analysis of COR on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $323.85 · market cap $61.8B.