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Cencora (COR) AI Stock Analysis
Cencora
(NYSE:COR)
COR’s score is driven by strong operating performance and supportive cash generation, tempered by elevated leverage on the balance sheet. Technicals add support with a clear uptrend and positive momentum. Valuation is a moderate offset given a mid‑20s P/E and low dividend yield, while the earnings call was upbeat but highlighted slower headline growth and higher interest expense into FY27.
Cencora Key Performance Indicators (KPIs)
Revenue by SegmentShows how sales are split across the company’s business lines (e.g., distribution versus higher-margin services), revealing which units drive growth and where the company is most exposed to pricing pressure, customer concentration, or regional risk.
U.S. Healthcare remains the revenue engine but is showing near‑term top‑line pressure from WAC price cuts, account losses and faster branded mail‑order conversions; that weakness is being offset by accelerating International and a newly reported Other bucket (post‑OneOncology) that carry better margins. Management raised operating income and EPS guidance despite lowering revenue growth, so the story is margin and cash‑flow driven rather than pure top‑line expansion. The large rise in intersegment eliminations flags acquisition consolidation and makes segment comparability noisier — focus on margins and FCF.
The FlyCencora (COR) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $64.98B
- Dividend Yield
- 0.68%
- Average Volume (3M)
- 1.31M
- Price to Earnings (P/E)
- 19.7
- Beta (1Y)
- 0.07
- Revenue Growth
- 5.09%
- EPS Growth
- 38.10%
- Country
- US
- Employees
- 49,000
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Medical - Distribution
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 br...
How the Company Makes Money
Cencora makes money primarily by acting as an intermediary in the pharmaceutical supply chain and by providing value-added services to drug manufacturers and providers. (1) Pharmaceutical distribution (core revenue stream): Cencora purchases branded...
Cencora Earnings Call Summary
The call was predominantly positive, with record fiscal 2026 results, strong fourth-quarter growth, expanding specialty capabilities, positive performance from OneOncology and RCA, robust free cash flow, and above-algorithm specialty guidance. The main challenges were lower consolidated growth expected in fiscal 2027, customer volume and foreign-exchange headwinds, manufacturer price reductions, higher interest expense, and the financial impact of portfolio divestitures and the expected Covetrus merger.
Q4-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For fiscal 27, Cencora expects adjusted diluted EPS to be in the range of $19.40 to $19.75, reflecting headline growth of 8% to 10%; excluding the assumed $0.35 impact of the mid fiscal year merger of MWI and Covetrus, adjusted EPS growth would be 10% to 12%. Consolidated revenue growth is expected to be in the range of 3% to 5%, operating income growth in the range of 4% to 6%, and excluding the businesses in other, adjusted operating income growth would be 8.5% to 11%; interest expense is expected to be in the range of $490 million to $510 million, the effective tax rate approximately 20%, full year diluted average shares outstanding approximately 190 million shares, additional fiscal 27 repurchases $1.25 billion, capital expenditures $1 billion, and adjusted free cash flow approximately $3.5 billion. Pharmaceutical distribution and services revenue growth is expected to be in the range of 4% to 6% and operating income growth 2% to 4%, including an approximate $20 million headwind related to the European distribution business; specialty pharmaceutical and provider services revenue growth is expected to be in the range of 9% to 14% and operating income growth in the range of 18% to 21%; revenue in other is expected to be approximately $3.5 billion and operating income in Other approximately $200 million; adjusted diluted EPS in the first quarter is expected to be approximately $4.55.
Cencora Financial Statement Overview
Summary
Income statement is strong (74) with durable revenue growth and improved recent profitability, and cash flow is supportive (63) with solid free cash flow generation. The main drag is balance-sheet risk (48): leverage remains elevated versus equity despite improvement, increasing sensitivity to funding costs and working-capital swings.
Income Statement
74PositiveBalance Sheet
48NeutralCash Flow
63Positive| Breakdown | TTM | Sep 2026 | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 337.40B | 337.40B | 321.33B | 293.96B | 262.17B | 238.59B |
| Gross Profit | 13.34B | 13.87B | 10.14B | 8.70B | 7.76B | 7.60B |
| EBITDA | 6.16B | 6.12B | 3.75B | 3.37B | 3.42B | 3.12B |
| Net Income | 3.48B | 3.48B | 1.55B | 1.51B | 1.75B | 1.70B |
Balance Sheet | ||||||
| Total Assets | 87.10B | 87.10B | 76.59B | 67.10B | 62.56B | 56.56B |
| Cash, Cash Equivalents and Short-Term Investments | 4.88B | 4.88B | 4.39B | 3.23B | 2.69B | 3.53B |
| Total Debt | 11.27B | 11.27B | 10.75B | 6.65B | 6.82B | 7.59B |
| Total Liabilities | 83.42B | 83.42B | 74.84B | 66.31B | 61.89B | 56.49B |
| Stockholders Equity | 3.68B | 3.68B | 1.51B | 645.94M | 522.00M | -211.56M |
Cash Flow | ||||||
| Free Cash Flow | 3.88B | 3.88B | 3.21B | 3.00B | 3.45B | 2.21B |
| Operating Cash Flow | 4.79B | 4.79B | 3.88B | 3.48B | 3.91B | 2.70B |
| Investing Cash Flow | -5.80B | -5.80B | -4.98B | -618.10M | -2.60B | -368.44M |
| Financing Cash Flow | 1.65B | 1.65B | 2.25B | -2.33B | -2.22B | -1.75B |
Cencora Technical Analysis
Price Trends
Market Momentum
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 354.00 is above the 20-day moving average (MA) of 334.27, above the 50-day MA of 324.63, and above the 200-day MA of 316.16, indicating a bullish trend. The MACD of 5.25 indicates Negative momentum. The RSI at 71.19 is Negative, neither overbought nor oversold. The STOCH value of 84.06 is Negative, 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.
Latest Risks Added
0 New RisksCencora Peers Comparison
Overall Rating
GRDN76Outperform
MCK75Outperform
PBH72Outperform
CAH69Neutral- COR67Neutral
HSIC65Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| GRDN | 76Outperform | $2.59B | 40.09 | 30.80% | ― | 10.31% | ― |
| MCK | 75Outperform | $116.55B | 27.36 | -194.39% | 0.32% | 8.84% | 48.98% |
| PBH | 72Outperform | $2.35B | 14.84 | 9.22% | ― | -1.36% | -16.45% |
| CAH | 69Neutral | $58.57B | 36.03 | -59.73% | 0.78% | 14.23% | 12.28% |
| COR | 67Neutral | $64.98B | 19.68 | 115.76% | 0.68% | 5.09% | 38.10% |
| HSIC | 65Neutral | $9.19B | 23.91 | 13.13% | ― | 6.15% | 15.68% |
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| COR | Cencora, Inc. | 354.00 | -3.51 | -0.98% | |
| CAH | Cardinal Health | 261.93 | 65.79 | 33.54% | |
| HSIC | Henry Schein | 88.24 | 18.18 | 25.95% | |
| MCK | McKesson Corporation | 1069.44 | 214.20 | 25.05% | |
| PBH | Prestige Consumer Healthcare | 53.28 | -8.08 | -13.17% | |
| GRDN | Guardian Pharmacy Services, Inc. Class A | 42.09 | 13.60 | 47.74% |
Cencora Corporate Events
Cencora Reports Revised Segment Information Following Operating Model Restructuring
NeutralCencora recently completed a restructuring of its operating model to strengthen execution and improve visibility, reorganizing business components into Pharmaceutical Distribution and Services, Specialty Pharmaceutical and Provider Services, and Othe...
Cencora Reports Strong Fourth-Quarter Revenue and Earnings Growth
PositiveOn November 4, 2026, Cencora reported fourth-quarter revenue of $88.4 billion, up 5.5%, and fiscal-year revenue of $337.4 billion, up 5.0%, for periods ended September 30, 2026. Fourth-quarter GAAP diluted EPS was $2.71, versus a loss of $1.75 a year...
Cencora to Acquire American Oncology Network in Expansion
PositiveOn October 21, 2026, Cencora announced a definitive agreement to acquire American Oncology Network, valuing the physician-led community oncology platform at $2.4 billion and expanding its management services organization footprint into 12 additional...
Cencora Adds Independent Director to Support Growth Strategy
PositiveOn September 24, 2026, Cencora’s Board of Directors elected Robert E. Sanchez as a new independent director, effective October 1, 2026, expanding the Board from ten to eleven members. Sanchez will receive standard non-employee director compensa...
Cencora Announces Resignation of Board Member Lorence Kim
NeutralOn August 13, 2026, Cencora, Inc. announced that Board member Lorence H. Kim, M.D., resigned from the company’s Board of Directors effective immediately following the conclusion of its quarterly Board meeting. His departure is linked to his app...
Cencora Reaffirms 2026 EPS Outlook Amid Walgreens Shift
PositiveBeginning July 1, 2026, certain Walgreens volume that had been serviced by Cencora outside its prime vendor agreement started moving to other providers, though the core prime vendor contract remained unchanged and continues to account for most of Cen...
Cencora Expands Credit Facilities to Bolster Liquidity
PositiveOn July 31, 2026, Cencora, Inc. and subsidiary Innomar Strategies Inc. amended and restated their multi-currency senior unsecured revolving credit facility, increasing lender commitments from $5.5 billion to $7.0 billion and extending the maturity to...
Cencora Raises 2026 EPS Outlook After Strong Quarter
PositiveIn the fiscal third quarter ended June 30, 2026, Cencora reported revenue of $84.8 billion, up 5.1 percent year on year, driven by growth in both U.S. and international healthcare solutions. GAAP diluted EPS rose to $3.94 from $3.52, while adjusted d...
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.
Date of analysis: Nov 04, 2026