Cencora (COR) AI Stock Analysis

• Market Cap: $66.16B
• Dividend Yield: 0.66%
• Average Volume (3M): 1.45M
• Price to Earnings (P/E): 42.8
• Beta (1Y): 0.06
• Revenue Growth: 9.31%
• EPS Growth: 5.92%
• Country: US
• Employees: 47,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Distribution
• EPS (TTM): 3.84
• Shares Outstanding: 193,993,440
• 10 Day Avg. Volume: 1,207,078
• 30 Day Avg. Volume: 1,453,440
• PEG Ratio: 7.05
• Price to Book (P/B): 40.17
• Price to Sales (P/S): 0.19
• P/FCF Ratio: 18.89
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 0.20
• Enterprise Value/Gross Profit: 5.57
• Enterprise Value/Ebitda: 17.23
• 1Y Price Target: $392.82
• Price Target Upside: 15.45% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 17.63
• Revenue Forecast (FY): $341.13B

• Rating: 70 Neutral
• Price Target: $377.00 ▲(10.80% Upside)

Cencora's strong financial performance and positive earnings call sentiment are major strengths, driving the score. However, high leverage, potential overvaluation, and technical indicators suggesting bearish momentum are notable risks.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial stability.

Strategic Acquisitions

The acquisition enhances Cencora's specialty solutions and market leadership, potentially increasing its competitive advantage and market share.

Infrastructure Investment

Long-term investment in infrastructure supports operational efficiency and capacity expansion, crucial for sustaining growth and competitiveness.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, potentially impacting the company's ability to invest in growth opportunities.

Goodwill Impairment

Significant goodwill impairment indicates challenges in certain business segments, potentially affecting overall profitability and strategic focus.

Interest Expense Increase

Rising interest expenses due to increased debt can strain cash flow, reducing funds available for reinvestment and operational needs.

Cencora Business Overview & Revenue Model

Company Description

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally. The company's U.S. Healthcare Solutions segment distributes generic and injectable 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; distributes plasma and other blood products, vaccines, and other specialty pharmaceutical products; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and other services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; sales force services to manufacturers; and offers other services to physicians who specialize in various disease states, such as oncology, as well as to other healthcare providers, including hospitals and dialysis clinics. Its International Healthcare Solutions segment provides international pharmaceutical wholesale and related service, and global commercialization services; distributes pharmaceuticals, other healthcare products, and related services to pharmacies, doctors, health centers, and hospitals; and offers 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 founded in 1871 and is headquartered in Conshohocken, Pennsylvania.

How the Company Makes Money

Cencora generates revenue through multiple streams, primarily by charging fees for its logistics and distribution services, which include warehousing, transportation, and inventory management of pharmaceuticals. The company also earns revenue from its clinical trial management services, where it partners with biopharmaceutical companies to facilitate the testing and approval of new drugs. Additionally, Cencora offers patient support services that help patients access medications, which further contributes to its revenue. Strategic partnerships with major pharmaceutical companies enhance its market reach and stability, providing a steady flow of contracts and projects that bolster earnings.

Cencora Financial Statement Overview

Summary

Cencora shows solid revenue growth and strong cash flow generation, but faces challenges with high leverage and relatively low margins. Improvement in operational efficiency and debt management is needed for enhanced financial stability.

Income Statement

Cencora has shown consistent revenue growth over the years, with a slight dip in net profit margin in the latest year. The gross profit margin has improved slightly, indicating better cost management. However, the EBIT and EBITDA margins are relatively low, suggesting room for improvement in operational efficiency.

Balance Sheet

The company has a high debt-to-equity ratio, which poses a risk in terms of financial leverage. However, the return on equity has improved significantly, indicating better utilization of equity. The equity ratio is low, suggesting a heavy reliance on debt financing.

Cash Flow

Cencora's cash flow position is strong, with significant growth in free cash flow. The operating cash flow to net income ratio indicates efficient cash generation relative to net income. The free cash flow to net income ratio is robust, showing good cash conversion.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	321.33B	321.33B	293.96B	262.17B	238.59B	213.99B
Gross Profit	11.48B	11.48B	9.79B	8.96B	8.30B	6.94B
EBITDA	3.71B	3.60B	3.37B	3.37B	3.10B	3.18B
Net Income	1.55B	1.55B	1.51B	1.75B	1.70B	1.54B
Balance Sheet
Total Assets	76.59B	76.59B	67.10B	62.56B	56.56B	57.34B
Cash, Cash Equivalents and Short-Term Investments	4.36B	4.36B	3.13B	2.59B	3.39B	2.55B
Total Debt	7.66B	7.66B	4.39B	4.79B	5.70B	6.68B
Total Liabilities	74.84B	75.08B	66.46B	62.04B	56.49B	56.75B
Stockholders Equity	1.51B	1.51B	645.94M	522.00M	-289.78M	223.35M
Cash Flow
Free Cash Flow	3.21B	3.21B	3.00B	845.86M	2.21B	2.23B
Operating Cash Flow	3.88B	3.88B	3.48B	1.30B	2.70B	2.67B
Investing Cash Flow	-4.98B	-4.98B	-618.10M	-2.60B	-368.44M	-6.14B
Financing Cash Flow	2.25B	2.25B	-2.33B	-2.22B	-1.75B	1.95B

Cencora Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 340.25
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COR, the sentiment is Neutral. The current price of 340.25 is below the 20-day moving average (MA) of 342.41, below the 50-day MA of 347.49, and above the 200-day MA of 304.45, indicating a neutral trend. The MACD of -2.39 indicates Positive momentum. The RSI at 43.92 is Neutral, neither overbought nor oversold. The STOCH value of 26.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for COR.

Cencora Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HSIC	74 Outperform	$8.96B	24.05	11.39%	―	3.51%	29.65%
COR	70 Neutral	$66.16B	42.84	144.31%	0.66%	9.31%	5.92%
CAH	66 Neutral	$49.49B	31.44	―	0.98%	4.37%	28.48%
MCK	62 Neutral	$102.23B	25.79	―	0.37%	17.23%	66.17%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
OMI	42 Neutral	$214.25M	-0.16	-184.47%	―	-37.09%	-2639.44%

Cencora Corporate Events

Cencora Announces Acquisition of OneOncology for $3.6 Billion

On December 15, 2025, Cencora announced its agreement to acquire the majority of equity interests in OneOncology from TPG for approximately $3.6 billion, with a total cash consideration of $5.0 billion including debt retirement. This acquisition aligns with Cencora’s pharmaceutical-centric strategy, aiming to enhance its specialty solutions, strengthen its market leadership, and improve patient access to pharmaceuticals. The transaction, expected to close by the end of fiscal 2026 Q2, will be funded through new debt financing, with Cencora maintaining its investment-grade credit rating. The acquisition is anticipated to be neutral to Cencora’s adjusted diluted EPS in the first year post-close, and the company has raised its long-term guidance expectations to reflect OneOncology’s contribution to growth.

Cencora Reports Strong Q4 Revenue Growth and Dividend Increase

On November 5, 2025, Cencora reported its fiscal 2025 fourth quarter and year-end results, highlighting a 5.9% increase in fourth-quarter revenue to $83.7 billion and a 9.3% rise in annual revenue to $321.3 billion. Despite a GAAP diluted EPS loss of $1.75 in the fourth quarter, the adjusted EPS increased to $3.84. The company also raised its quarterly dividend by 9% and its long-term guidance, reflecting confidence in continued growth driven by strategic acquisitions and a focus on digital transformation. These results underscore Cencora’s strengthened position in the healthcare market and its commitment to driving stakeholder value.