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Cencora
(NYSE:COR)
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Rating:62Neutral
Price Target:
$299.00
▼(-8.72% Downside)
Action:Reiterated
Date:06/16/26
The score is driven primarily by solid operating performance and a constructive earnings update (raised EPS and operating income guidance, strong margin/gross profit trends, and planned buybacks), tempered by elevated balance-sheet leverage and weaker recent free-cash-flow trends. Technical indicators are mixed and do not provide strong confirmation, while valuation appears only moderate with a modest dividend yield.
Positive Factors
Scale and distribution franchise
Cencora’s large-scale distribution and integrated pharma services provide durable competitive advantages: purchasing leverage, logistics scale, and deep manufacturer and provider relationships. This scale lowers per-unit costs, supports contract wins, and creates high switching frictions for customers over months to years.
Negative Factors
Elevated leverage
High debt relative to equity constrains strategic flexibility and raises sensitivity to interest-cost increases. Elevated leverage reduces the company’s buffer against revenue or margin shocks, limits ability to fund large acquisitions without refinancing, and prolongs the timeline to reach a conservative capital structure.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale and distribution franchise
Cencora’s large-scale distribution and integrated pharma services provide durable competitive advantages: purchasing leverage, logistics scale, and deep manufacturer and provider relationships. This scale lowers per-unit costs, supports contract wins, and creates high switching frictions for customers over months to years.
Read all positive factors
Cencora Key Performance Indicators (KPIs)
Cencora (COR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$52.89B
Dividend Yield0.66%
Average Volume (3M)1.89M
Price to Earnings (P/E)20.7
Beta (1Y)0.06
Revenue Growth5.95%
EPS Growth51.04%
CountryUS
Employees47,000
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)13.12
Shares Outstanding194,561,070
10 Day Avg. Volume1,416,701
30 Day Avg. Volume1,889,771
Financial Highlights & Ratios
PEG Ratio7.05
Price to Book (P/B)40.17
Price to Sales (P/S)0.19
P/FCF Ratio18.89
Enterprise Value/Market Cap1.21
Enterprise Value/Revenue0.19
Enterprise Value/Gross Profit5.62
Enterprise Value/Ebitda12.82
Forecast
1Y Price Target
$353.63Price Target Upside7.96% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)17.78
Revenue Forecast (FY)$337.94B
Cencora Business Overview & Revenue Model
Company Description
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...
How the Company Makes Money
Cencora makes money primarily by distributing pharmaceuticals and other healthcare products and earning a margin (spread) on the sale of those products to customers such as retail and independent pharmacies, hospital systems, health systems, and o...
Cencora Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Neutral
The call balanced strong profitability and cash-generation metrics (EPS growth +7.5%, gross profit +16%, operating income +6%), a raised EPS range, improved operating income guidance, robust international performance, and the resumption of $1B share repurchases against material near-term revenue pressures (reduced consolidated revenue guidance from 7%–9% to 4%–6%) driven by WAC price reductions, account losses and faster mail-order brand conversions. Management highlighted transitory items (weather, COVID vaccine comparisons) and acquisition-related expense impacts but maintained confidence in long-term operating income growth and free cash flow generation.Positive Updates
Adjusted EPS Growth and Raised Full-Year EPS Guidance
Adjusted diluted EPS for Q2 was $4.75, up 7.5% year-over-year. Management raised full-year adjusted EPS guidance to $17.65–$17.90 (from $17.45–$17.75).
Negative Updates
Revenue Guidance Reduced Substantially
Consolidated revenue growth guidance was lowered to 4%–6% (from 7%–9%). U.S. Healthcare Solutions revenue guidance was cut to 4%–6%, driven by faster-than-expected branded conversions and slower GLP-1 growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Adjusted EPS Growth and Raised Full-Year EPS Guidance
Adjusted diluted EPS for Q2 was $4.75, up 7.5% year-over-year. Management raised full-year adjusted EPS guidance to $17.65–$17.90 (from $17.45–$17.75).
Read all positive updates
Company Guidance
Management raised fiscal‑2026 adjusted diluted EPS guidance to $17.65–$17.90 (from $17.45–$17.75) and updated revenue and operating income outlooks: consolidated revenue growth now 4–6% (was 7–9%), U.S. Healthcare Solutions revenue 4–6%, International revenue 8–10% as‑reported (6–8% constant currency); consolidated operating income growth was increased to 12–14% (from 11.5–13.5%), U.S. Healthcare Solutions operating income guidance remains 14–16%, International operating income 5–8%, and Other operating income is expected to grow in the high single‑digits. They expect full‑year adjusted free cash flow of roughly $3.0B, interest expense of approximately $485M (Q2 net interest ~$140M and Q3 roughly similar), diluted shares to be under 195.5M, plan to repurchase $1.0B of shares by calendar year‑end, and expect Q3 adjusted EPS growth in the high single‑digits with the strongest cadence in Q4.Cencora Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
47
Neutral
Cash Flow
61
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 328.68B | 321.33B | 293.96B | 262.17B | 238.59B | 213.99B |
| Gross Profit | 11.40B | 10.14B | 8.70B | 7.76B | 7.60B | 6.27B |
| EBITDA | 5.00B | 3.74B | 3.36B | 3.41B | 3.11B | 2.91B |
| Net Income | 2.55B | 1.55B | 1.51B | 1.75B | 1.70B | 1.54B |
Balance Sheet | ||||||
| Total Assets | 81.65B | 76.59B | 67.10B | 62.56B | 56.56B | 57.34B |
| Cash, Cash Equivalents and Short-Term Investments | 2.24B | 4.39B | 3.23B | 2.69B | 3.53B | 2.55B |
| Total Debt | 12.39B | 10.75B | 6.65B | 6.82B | 7.59B | 8.75B |
| Total Liabilities | 78.07B | 74.84B | 66.31B | 61.89B | 56.49B | 56.75B |
| Stockholders Equity | 3.40B | 1.51B | 645.94M | 522.00M | -211.56M | 223.35M |
Cash Flow | ||||||
| Free Cash Flow | 1.56B | 3.21B | 3.00B | 3.45B | 2.21B | 2.23B |
| Operating Cash Flow | 2.28B | 3.88B | 3.48B | 3.91B | 2.70B | 2.67B |
| Investing Cash Flow | -5.73B | -4.98B | -618.10M | -2.60B | -368.44M | -6.14B |
| Financing Cash Flow | 3.55B | 2.25B | -2.33B | -2.22B | -1.75B | 1.95B |
Cencora Technical Analysis
Positive
327.56
Price Trends
279.05
Positive
309.67
Negative
323.23
Negative
Market Momentum
3.04
Negative
66.09
Neutral
77.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COR, the sentiment is Positive. The current price of 327.56 is above the 20-day moving average (MA) of 280.74, above the 50-day MA of 279.05, and above the 200-day MA of 323.23, indicating a neutral trend. The MACD of 3.04 indicates Negative momentum. The RSI at 66.09 is Neutral, neither overbought nor oversold. The STOCH value of 77.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for COR.
Cencora Risk Analysis
Cencora disclosed 31 risk factors in its most recent earnings report. Cencora reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cencora Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $87.88B | 19.25 | -265.44% | 0.37% | 12.36% | 48.80% | |
63 Neutral | $55.96B | 36.42 | -55.72% | 0.98% | 12.80% | 2.04% | |
62 Neutral | $52.89B | 20.75 | 115.93% | 0.66% | 5.95% | 51.04% | |
60 Neutral | $9.85B | 25.88 | 11.86% | ― | 5.64% | 2.92% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
COR
Cencora
296.51
2.50
0.85%
CAH
Cardinal Health
238.94
75.71
46.38%
HSIC
Henry Schein
86.43
11.76
15.75%
MCK
McKesson
786.30
69.92
9.76%
Cencora Corporate Events
Business Operations and StrategyExecutive/Board Changes
Cencora announces leadership transition in human resources
Positive
Jun 15, 2026
On June 15, 2026, Cencora announced that Executive Vice President and Chief Human Resources Officer Silvana Battaglia will retire effective July 12, 2026, after a seven-year tenure marked by significant growth and cultural development at the compa...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Cencora Names New CFO and Reaffirms 2026 Outlook
Positive
May 29, 2026
On May 27, 2026, Cencora announced the appointment of veteran finance executive Eva C. Boratto as Executive Vice President and Chief Financial Officer, effective June 29, 2026, succeeding retiring CFO James F. Cleary, who will remain in an advisor...
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
Cencora lifts 2026 outlook after OneOncology-fueled earnings jump
Positive
May 6, 2026
Cencora reported that for its fiscal second quarter ended March 31, 2026, revenue rose 3.8% year over year to $78.4 billion, driven by growth of 2.9% in U.S. Healthcare Solutions and 13.0% in International Healthcare Solutions. The company’s...
Business Operations and StrategyM&A Transactions
Cencora to Acquire EyeSouth Retina Business for Expansion
Positive
Mar 23, 2026
Cencora, Inc., a global pharmaceutical solutions and distribution company that operates Retina Consultants of America as a physician-centered retina specialty network, focuses on improving access to therapies and supporting community care provider...
Executive/Board ChangesFinancial Disclosures
Cencora CFO Retirement Announced, Financial Guidance Reaffirmed
Positive
Mar 17, 2026
Cencora, Inc., a leading global pharmaceutical solutions provider with more than $300 billion in annual revenue, serves pharmaceutical innovators and care providers by optimizing market access and ensuring secure delivery of drugs and healthcare p...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.