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Cencora (COR) AI Stock Analysis
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Cencora
(NYSE:COR)
COR scores well primarily on strong financial performance (especially free cash flow) and a favorable earnings-update cycle with raised FY2026 EPS and operating income guidance. The score is moderated by balance-sheet leverage risk, stretched technical momentum signals (RSI/Stoch elevated), and a valuation that offers limited margin of safety given the low dividend yield.
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
- $63.13B
- Dividend Yield
- 0.73%
- Average Volume (3M)
- 1.31M
- Price to Earnings (P/E)
- 24.5
- Beta (1Y)
- 0.08
- 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 emphasized strong execution and durable specialty-driven growth: consolidated revenue and adjusted gross profit growth, margin expansion, double-digit operating income increases, 12% EPS growth, upgraded EPS guidance, significant share repurchases, and robust free cash flow. Key drivers included strong U.S. Healthcare Solutions performance (MSOs and specialty), International momentum, and OneOncology outperforming expectations. Headwinds discussed were notable but largely manageable: $2.4B of manufacturer list-price reductions, a prior oncology customer loss, lower mail-order sales, acquisition-related higher operating expenses and increased interest expense, and a potential FY27 earnings headwind from the planned MWI transaction. Overall, the positive operational and financial outcomes and guidance raise outweigh the discrete and partly acquisition-related challenges.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Cencora raised its fiscal 2026 adjusted EPS guidance to $17.75–$17.95 (from $17.70–$17.90) while leaving consolidated and U.S. Healthcare Solutions revenue guidance unchanged, noting full‑year U.S. revenue is expected to land in the lower half of the prior 4–6% growth range; International revenue is now expected to grow ~8% as‑reported (~7% constant currency) and Other revenue ~6%. Management also raised the bottom end of consolidated adjusted operating income growth to 13–14%, with U.S. Healthcare Solutions operating income now expected to grow 14.5–15.5%, International operating income ~9% (as‑reported and constant currency), and Other operating income ~10%. Below‑the‑line items were updated to net interest expense of ~ $490 million (vs. prior ~$485M) and diluted shares outstanding of ~194 million (Q3 diluted share count 193.9M after $1.0B of opportunistic repurchases at an average $268/share), while full‑year adjusted free cash flow guidance remains about $3.0B (YTD adj. FCF $1.1B) and cash was $2.8B at quarter end; management also noted $800M of RCA term‑loan repayment ($400M in Q3 and $400M in July). For fiscal 2027 modeling, the contemplated MWI–Covetrus merger (if it closed at mid‑year) would create an Other segment operating income headwind of ~$150M and an EPS headwind of roughly $0.35 (partially offset by transaction consideration).
Cencora Financial Statement Overview
Summary
Overall fundamentals are solid, led by strong cash generation (Cash Flow Score 83; ~$4.1B TTM FCF) and healthy operating improvement alongside consistent revenue growth (Income Statement Score 78). The key constraint is balance sheet risk (Balance Sheet Score 52) from elevated leverage versus equity and historically weak/negative equity, which reduces flexibility if margins or working capital turn against the company.
Income Statement
78PositiveBalance Sheet
52NeutralCash Flow
83Very Positive| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 332.77B | 321.33B | 293.96B | 262.17B | 238.59B | 213.99B |
| Gross Profit | 12.34B | 10.14B | 8.70B | 7.76B | 7.60B | 6.27B |
| EBITDA | 5.15B | 3.75B | 3.37B | 3.42B | 3.12B | 2.92B |
| Net Income | 2.62B | 1.55B | 1.51B | 1.75B | 1.70B | 1.54B |
Balance Sheet | ||||||
| Total Assets | 83.81B | 76.59B | 67.10B | 62.56B | 56.56B | 57.34B |
| Cash, Cash Equivalents and Short-Term Investments | 2.82B | 4.39B | 3.23B | 2.69B | 3.53B | 2.55B |
| Total Debt | 11.72B | 10.75B | 6.65B | 6.82B | 7.59B | 8.75B |
| Total Liabilities | 80.57B | 74.84B | 66.31B | 61.89B | 56.49B | 56.75B |
| Stockholders Equity | 3.05B | 1.51B | 645.94M | 522.00M | -211.56M | 223.35M |
Cash Flow | ||||||
| Free Cash Flow | 4.06B | 3.21B | 3.00B | 3.45B | 2.21B | 2.23B |
| Operating Cash Flow | 4.82B | 3.88B | 3.48B | 3.91B | 2.70B | 2.67B |
| Investing Cash Flow | -5.74B | -4.98B | -618.10M | -2.60B | -368.44M | -6.14B |
| Financing Cash Flow | 1.57B | 2.25B | -2.33B | -2.22B | -1.75B | 1.95B |
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 330.84 is above the 20-day moving average (MA) of 330.08, above the 50-day MA of 323.38, and above the 200-day MA of 316.27, indicating a bullish trend. The MACD of 3.05 indicates Positive momentum. The RSI at 54.15 is Neutral, neither overbought nor oversold. The STOCH value of 34.14 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.
Latest Risks Added
0 New RisksCencora Peers Comparison
Overall Rating
GRDN76Outperform
MCK74Outperform
PBH72Outperform- COR71Outperform
CAH68Neutral
HSIC55Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| GRDN | 76Outperform | $2.58B | 38.75 | 30.80% | ― | 10.31% | ― |
| MCK | 74Outperform | $115.96B | 26.50 | -194.39% | 0.34% | 8.84% | 48.98% |
| PBH | 72Outperform | $2.32B | 13.66 | 9.22% | ― | -1.36% | -16.45% |
| COR | 71Outperform | $63.13B | 24.47 | 106.43% | 0.73% | 5.09% | 38.10% |
| CAH | 68Neutral | $58.00B | 34.45 | -59.73% | 0.82% | 14.23% | 12.28% |
| HSIC | 55Neutral | $9.46B | 24.53 | 12.37% | ― | 6.49% | 10.41% |
| 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. | 330.84 | -7.51 | -2.22% | |
| CAH | Cardinal Health | 250.48 | 62.04 | 32.92% | |
| HSIC | Henry Schein | 84.88 | 20.24 | 31.31% | |
| MCK | McKesson Corporation | 994.58 | 177.51 | 21.72% | |
| PBH | Prestige Consumer Healthcare | 49.06 | -11.52 | -19.02% | |
| GRDN | Guardian Pharmacy Services, Inc. Class A | 40.69 | 12.42 | 43.93% |
Cencora Corporate Events
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: Oct 21, 2026