Cencora, Inc. (COR) Stock Price & Analysis
Cencora, Inc. (COR) closed at USD 338.48 on Thursday, October 22, 2026, down 0.57% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 340.43; the Oct 22, 2026 session ranged USD 337.11–343.07 on volume of 1,183,164 shares. Market capitalization is $64.59B, with a 52-week range of USD 244.82–377.54 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:59 UTC.
Also available as compact Markdown for AI agents: nexqual.com/COR.md
Key facts (COR)
- Last four reported quarters (through Jun 30, 2026): revenue $333B, net income $2.62B (0.8% margin), free cash flow $4.06B (SEC filings).
- Valuation: P/E 24.6x (avg 30.1x at the last 3 fiscal year-ends), EV/EBITDA 18.0x, net debt $8.91B.
- Earnings quality: non-operating income $996M vs operating income $3.04B over the last four quarters; P/E excluding non-operating income ≈34.1x (estimate: non-operating income taxed at the company's 26.8% effective rate).
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $4.7M; 2 not under a Rule 10b5-1 plan ($4.1M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 2 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 3 Form 4 filings, $2.3M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.07 on a 1–5 scale) (14 analysts), mean target USD 369.08 (range 330–400).
- Total return with dividends: 1Y +3.8% vs S&P 500 +14.9%; 5Y +191.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 4.57, revenue estimate $87.9B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (COR)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $214B | $239B | $262B | $294B | $321B | $333B |
| Gross profit | $6.94B | $8.30B | $8.96B | $9.91B | $11.5B | — |
| Operating income | $2.35B | $2.37B | $2.34B | $2.18B | $2.63B | $3.04B |
| Net income | $1.54B | $1.70B | $1.75B | $1.51B | $1.55B | $2.62B |
| EPS (diluted) | $7.39 | $8.04 | $8.53 | $7.53 | $7.96 | — |
| Free cash flow | $2.23B | $2.21B | $3.45B | $3.00B | $3.21B | $4.06B |
| Gross margin | 3.2% | 3.5% | 3.4% | 3.4% | 3.6% | — |
| Operating margin | 1.1% | 1.0% | 0.9% | 0.7% | 0.8% | 0.9% |
| Net margin | 0.7% | 0.7% | 0.7% | 0.5% | 0.5% | 0.8% |
| Revenue growth | +12.7% | +11.5% | +9.9% | +12.1% | +9.3% | — |
| Cash + short-term investments | $2.55B | $3.39B | $2.59B | $3.13B | $4.36B | — |
| Total debt | $6.68B | $5.70B | $4.79B | $4.39B | $7.66B | — |
Fiscal years end Sep. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (COR)
P/E 24.6x · P/E ex non-operating (est.) ≈34.1x · P/S 0.2x · EV/EBITDA 18.0x · EV/Sales 0.2x · P/FCF 15.9x · P/B 21.2x · FCF yield 6.29% · Earnings yield 4.06% · Dividend yield (paid, TTM) 0.72% · Net debt $8.91B · EV $73.5B
P/E at fiscal year-ends: Sep 2025 39.3x, Sep 2024 29.9x, Sep 2023 21.1x.
Insider sales (SEC Form 4, open-market, last ~7 months) (COR)
2 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-01 | Krikorian Lazarus | SVP & Chief Accounting Officer | 986 | $299K | 6.1% | Yes | Routine (sold in Dec each year 2023–2025; this trade is outside those months) |
| 2026-09-16 | Greenberg Lon R | Director | 1,280 | $411K | 7% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-01 | Krikorian Lazarus | SVP & Chief Accounting Officer | 985 | $321K | 5.7% | Yes | Routine (sold in Dec each year 2023–2025; this trade is outside those months) |
| 2026-08-24 | Campbell Elizabeth S | Executive Vice President | 11,300 | $3.7M | 36.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (COR)
3 purchases, $2.3M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-22 | Tyler Lauren M | Director | 550 | $149K | 270.23 | Too little history (no open-market trades in 2023–2025) |
| 2026-06-18 | Durcan Dermot Mark | Director | 4,000 | $1.1M | 274.19 | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-28 | Durcan Dermot Mark | Director | 4,000 | $1.1M | 266.26 | Too little history (no open-market trades in 2023 or 2025) |
Analysts (COR)
Consensus Buy (mean 2.07 on a 1–5 scale), 14 analysts; mean target USD 369.08 (low 330, high 400).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Baird | Target raised | Outperform | $373 → $375 |
| 2026-10-20 | Argus Research | Target raised | Buy | $340 → $380 |
| 2026-10-16 | UBS | Target lowered | Buy | $430 → $400 |
| 2026-10-07 | Leerink Partners | Target raised | Outperform | $380 → $388 |
| 2026-09-08 | RBC Capital | Reiterated | Sector Perform | $330 |
| 2026-08-19 | RBC Capital | Initiated | Sector Perform | $330 |
| 2026-08-11 | Wells Fargo | Target raised | Overweight | $331 → $395 |
| 2026-08-07 | Morgan Stanley | Target raised | Overweight | $342 → $346 |
| 2026-08-07 | JP Morgan | Target raised | Overweight | $382 → $390 |
| 2026-08-06 | UBS | Target raised | Buy | $412 → $430 |
| 2026-08-06 | Evercore ISI Group | Target raised | Outperform | $330 → $350 |
Total return (dividends reinvested) (COR)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +3.8% | +191.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +3.8% | +23.8% |
| Volatility (annualized) | 32.4% | 21.9% |
| Max drawdown | -32.4% (Nov 2025→May 2026) | -30.6% (Feb 2026→May 2026) |
COR revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| U.S. Healthcare Solutions | $74.86B | 88.3% | +4.9% |
| International Healthcare Solutions | $7.68B | 9.1% | +5.9% |
| Total revenue | $84.75B | 100% | — |
COR revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Alliance Healthcare | $6.60B | 7.8% | +6.0% |
| Other Healthcare Solutions | $1.08B | 1.3% | +5.4% |
| Total revenue | $84.75B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
COR suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Walgreens and Boots UK | “As of September 30, 2025, our two largest trade receivable balances due from customers (Walgreens and Boots together and Evernorth Health Services) represented approximately 38% and 5% of our accounts receivable, net.” |
| Partner | OneOncology | “In June 2023, we invested $718.4 million (representing a 34.9% interest) in a joint venture to acquire OneOncology, a network of leading oncology practices, with TPG Inc., a global alternative asset management firm, holding the majority interest in the joint venture.” |
| Partner | The Company and TPG | “In June 2023, we invested $718.4 million (representing a 34.9% interest) in a joint venture to acquire OneOncology, a network of leading oncology practices, with TPG Inc., a global alternative asset management firm, holding the majority interest in the joint venture.” |
| Partner | PharmaLex Holding | “As of September 30, 2025, our reporting units included U.S. Pharmaceutical Distribution Services, U.S. Consulting Services, MWI Animal Health, Alliance Healthcare, Innomar, World Courier, PharmaLex, and Profarma.” |
| Competitor | McKesson (MCK) | “Our largest competitors are McKesson Corporation ("McKesson"), Cardinal Health, Inc. ("Cardinal"), and UPS Logistics, among others.” |
| Competitor | Cardinal Health (CAH) | “Our largest competitors are McKesson Corporation ("McKesson"), Cardinal Health, Inc. ("Cardinal"), and UPS Logistics, among others.” |
| Competitor | UPS (UPS) | “Our largest competitors are McKesson Corporation ("McKesson"), Cardinal Health, Inc. ("Cardinal"), and UPS Logistics, among others.” |
Quoted from the company's 10-K filed Nov 25, 2025.
Companies that name COR in their SEC reports
| Relationship to COR | Company | Filing | Sentence |
|---|---|---|---|
| supplier | TAKEDA PHARMACEUTICAL CO LTD (TAK) | 20-F Jun 17, 2026 | “The sales to Cencora Group, McKesson Group and Cardinal Health Group were JPY 579,065 million, JPY 578,767 million and JPY 436,951 million, respectively, for the year ended March 31, 2024.” |
| competitor | MCKESSON CORP (MCK) | 10-K May 8, 2026 | “Our primary competitors in distribution, wholesaling, and logistics are Cencora, Inc. and Cardinal Health, Inc.” |
| partner | DataMeds AI, Inc. (MEDS) | 10-K Mar 20, 2026 | “Health's distribution agreement with AmerisourceBergen is subject to early termination in certain circumstances and, upon the expiration” |
| competitor | Cryoport, Inc. (CYRX) | 10-K Mar 5, 2026 | “Life Sciences Services competition is primarily with specialty couriers, who fall into the category of coopetition and include companies such as World Courier (a Cencora company), UPS Healthcare, Quick (a Kuehne+Nagel company), and Biocair.” |
| supplier | SUPERNUS PHARMACEUTICALS, INC. (SUPN) | 10-K Mar 2, 2026 | “Each of our three major customers, Cencora, Inc., Cardinal Health, Inc., and McKesson Corporation, individually accounted for more than 15% of our total product revenue in 2025 and collectively accounted for more than 76% of our total product revenue in 2025.” |
| supplier | Amneal Pharmaceuticals, Inc. (AMRX) | 10-K Feb 27, 2026 | “For the year ended December 31, 2025, our four largest customers, Cencora, Inc., McKesson Drug Co., Cardinal Health, Inc., and CVS Health Corporation, collectively accounted for approximately 71% of our consolidated net revenue.” |
| supplier | BeOne Medicines Ltd. (ONC) | 10-K Feb 26, 2026 | “For the year ended December 31, 2025, sales to the Company's three largest product distributors, ASD Specialty Healthcare (Cencora), McKesson and Shanghai Pharmaceutical represented approximately 18.5%, 17.5% and 10.1% of product revenue, respectively, and collectively, represented approximately 37.1% of trade accounts receivable as of December 31, 2025.” |
| supplier | ADMA BIOLOGICS, INC. (ADMA) | 10-K Feb 25, 2026 | “As of December 31, 2024, three customers, BioCare, Healix Infusion Therapy, LLC ("Healix") and Cencora, Inc. (f/k/a AmerisourceBergen Corporation), represented an aggregate of approximately 91% of our consolidated accounts receivable.” |
| partner | UNITED THERAPEUTICS Corp (UTHR) | 10-K Feb 25, 2026 | “We distribute Unituxin in the United States through an exclusive distribution agreement with Cencora Global Procurement Ltd (Cencora).” |
| supplier | Merck & Co., Inc. (MRK) | 10-K Feb 24, 2026 | “The Company's customers with the largest accounts receivable balances are: McKesson Corporation, Cencora, Inc. and Cardinal Health, Inc., which represented approximately 22%, 21% and 13%, respectively, of total accounts receivable at December 31, 2025.” |
| supplier | Jazz Pharmaceuticals plc (JAZZ) | 10-K Feb 24, 2026 | “Zepzelca, Rylaze, Ziihera and Vyxeos are sold to customers through subsidiary specialty distributors of McKesson, Cencora, and Cardinal.” |
| supplier | Elanco Animal Health Inc (ELAN) | 10-K Feb 24, 2026 | “Our largest customer, an affiliate of Cencora, Inc., is a third-party veterinary distributor and represented approximately 12% of our total revenue in 2025.” |
| supplier | Bausch Health Companies Inc. (BHC) | 10-K Feb 19, 2026 | “The Company has Distribution Services Agreements ("DSAs") with several large wholesale customers such as McKesson Corporation, Cencora Inc., Cardinal Health, Inc. and McKesson Specialty.” |
| supplier | HALOZYME THERAPEUTICS, INC. (HALO) | 10-K Feb 17, 2026 | “We engage Integrated Commercialization Solutions, a division of AmerisourceBergen Specialty Group, a subsidiary of AmerisourceBergen, to act as our exclusive distributor for commercial shipment and distribution of Hylenex recombinant to our customers in the U.S. We also contract with numerous wholesale distributors, including Cardinal Health 105, Inc., also known as Specialty Pharmaceutical Services ("Cardinal"), …” |
| supplier | AMGEN INC (AMGN) | 10-K Feb 13, 2026 | “Our product sales to three large wholesalers, McKesson Corporation, Cencora, Inc. and Cardinal Health, Inc., each individually accounted for more than 10% of total revenues for each of the years 2025, 2024 and 2023.” |
COR customer concentration
In the period ended Sep 30, 2025, 2 direct customers each accounted for at least 10% (25%, 13%) of revenue, per the company's 10-K filed Nov 25, 2025. The company does not name them.
COR company outlook (results filed Oct 21, 2026)
- “Assuming these stockholders retain 25% of AON through the equity rollover, Cencora expects to pay approximately $1.7 billion to increase its ownership in AON to 75%.”
- “Cencora's Fiscal Year 2026 Expectations Cencora does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available or cannot be reasonably estimated.”
- “Cencora's Fiscal Year 2026 Expectations on an Adjusted (non-GAAP) Basis Cencora has updated its fiscal year 2026 financial guidance to reflect the strength of the U.S.”
- “Cencora now expects adjusted diluted earnings per share (EPS) to be at least $17.90, which is at the high end of the previous range of $17.75 to $17.95.”
Quoted word-for-word from the SEC 8-K results press release.
COR analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $4.57 | $4.61 | -0.9% | $87.91B | 8 |
| Next quarter (ends Dec 2026) | $4.58 | $4.51 | +1.5% | $90.00B | 8 |
| Current fiscal year (ends Sep 2026) | $17.88 | $17.78 | +0.5% | $337.03B | 10 |
| Next fiscal year (ends Sep 2027) | $19.76 | $19.80 | -0.2% | $351.68B | 9 |
COR options: expected move
Options price a move of about ±8.6% (±$29.05) by Nov 20, 2026, which includes earnings on Nov 4, 2026. Over the last 8 reports the stock moved ±5.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 38.0% | ±8.6% |
| Dec 18, 2026 | 56 | 32.4% | ±10.2% |
| Jan 15, 2027 | 84 | 30.6% | ±11.8% |
| Feb 19, 2027 | 119 | 31.0% | ±14.2% |
| Mar 19, 2027 | 147 | 30.4% | ±15.4% |
| May 21, 2027 | 210 | 30.1% | ±18.2% |
| Sep 17, 2027 | 329 | 29.1% | ±22.0% |
30-day implied volatility 36.4% vs 22% realized over the last 30 trading days. Put/call ratio (volume) 1.53. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:59 UTC)
| Price | USD 338.48 |
|---|---|
| Change | ▼ 0.57% (down) |
| Previous Close | USD 340.43 |
| Open | USD 344.43 |
| Day Range | USD 337.11 – 343.07 |
| 52-Week Range | USD 244.82 – 377.54 |
| Volume | 1,183,164 shares |
| Market Cap | $64.59B |
| Exchange | NYQ |
Technical Analysis (COR)
Nexqual's technical model rates COR "BUY" based on 5 bullish and 1 bearish signals across 127 daily candles, as of October 23, 2026 at 09:59 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 60.65 (neutral) |
| vs SMA50 | Above (USD 321.62) |
| MACD | 6.82 (positive) |
Analyst Ratings (COR)
Wall Street analysts rate COR "Buy" based on 14 analysts, with a mean price target of USD 369.08 (range USD 330–400), per Nexqual as of October 23, 2026 at 09:59 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 14 |
| Mean Target | USD 369.08 |
| High Target | USD 400 |
| Low Target | USD 330 |
| Buy / Hold / Sell | 10 / 4 / 0 |
Earnings (COR)
| Next Earnings Date | 2026-11-04 |
|---|---|
| EPS Estimate | USD 4.57 |
| Revenue Estimate | $87.91B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 4.48 vs est 4.35 ▲ beat |
| 2026-03-31 | USD 4.75 vs est 4.72 ▲ beat |
| 2025-12-31 | USD 4.08 vs est 4.04 ▲ beat |
| 2025-09-30 | USD 3.84 vs est 3.79 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:59 UTC.
Financials & Fundamentals (COR)
| Total Revenue | $332.77B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +5.10% |
| Gross Margin | +3.96% |
| Operating Margin | +1.41% |
| Profit Margin | +0.79% |
| ROE | +96.87% |
| Debt / Equity | 4.47 |
| Current Ratio | 0.94 |
| Total Cash | $2.82B |
| Total Debt | $14.46B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $4.06B (1.2% of revenue) |
Source: Nexqual, October 23, 2026 at 09:59 UTC.
Financial Health Score (COR)
Nexqual rates Cencora, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:59 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Weak — Gross margin 4%, operating 1% (last 12 months) |
| Balance Sheet | Critical — $2.82B cash and investments vs $11.7B debt (Jun 2026, SEC) |
| Cash Flow | Mixed — FCF $4.06B (last 4 quarters to Jun 2026, SEC), slim 1.2% margin |
| Efficiency | Strong — ROE 97%, ROA 3.6% |
Ownership (COR)
| Insider Ownership | +4.30% |
|---|---|
| Institutional Ownership | +99.35% |
| Shares Outstanding | 190.83M |
| Float | 180.25M |
| Short % of Float | +2.34% |
Source: Nexqual, October 23, 2026 at 09:59 UTC.
Leadership (COR)
Cencora, Inc. is led by Robert P. Mauch Ph.D., PharmD, President, CEO & Director, per Nexqual as of October 23, 2026 at 09:59 UTC.
| President, CEO & Director | Robert P. Mauch Ph.D., PharmD |
|---|---|
| Executive VP & CFO | Eva C. Boratto |
| EVP and President of U.S. Pharmaceuticals & Animal Health | Richard Tremonte |
Major Backers & Investors (COR)
Notable institutional backers of Cencora, Inc. include T. Rowe Price, Price (T.Rowe) Associates Inc, JPMorgan, according to Nexqual as of October 23, 2026 at 09:59 UTC.
Active Investors
| Investor | Stake |
|---|---|
| T. Rowe Price | 3.88% |
| Price (T.Rowe) Associates Inc | 3.74% |
| JPMorgan | 3.11% |
| Boston Partners | 2.55% |
| Wellington Management | 2.39% |
| Fidelity | 1.32% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 11.53% |
| BlackRock | 9.54% |
| State Street | 4.86% |
| Geode Capital | 2.86% |
Source: Nexqual, October 23, 2026 at 09:59 UTC.
From Cencora, Inc.'s Latest SEC 10-K Filing (filed 2025-11-25)
Key Strengths & Strategy (as disclosed to the SEC)
- In fiscal 2025, Walgreens and Boots together accounted for approximately 25% of revenue and Evernorth Health Services accounted for approximately 13% of revenue.
- We have developed or acquired various proprietary products, processes, software, and other intellectual property that are used either to facilitate the conduct of our business or that are made available as products or services to customers.
- We hold patents and have patent applications pending that relate to certain of our products, particularly our automated pharmacy dispensing equipment, our medication and supply dispensing equipment, certain warehousing equipment, and some of our proprietary packaging solutions.
- We seek patent protection for our proprietary intellectual property from time to time as appropriate.
Legal & Regulatory Risks (Item 1A, quoted)
- Increasing governmental efforts to regulate the pharmaceutical supply chain may increase our costs and reduce our profitability.
- Legal, regulatory, and legislative changes with respect to coverage, reimbursement, pricing, and contracting may adversely affect our business and results of operations, including through declining reimbursement rates.
- The federal government and state governments could take actions that impact Medicaid reimbursement and rebate amounts or the cost of drugs.
- The federal government may adopt measures in the future that would further reduce Medicare and/or Medicaid spending or impose additional requirements on healthcare entities, including entities we manage or with which we are directly engaged through our recent MSO acquisition and investment.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| CAH | Cardinal Health, Inc. | USD 255.64 | ▼ 0.71% |
| MCK | McKesson Corporation | USD 1,012.34 | ▼ 0.31% |
| HSIC | Henry Schein, Inc. | USD 86 | ▲ 1.16% |
| AHG | Akso Health Group | USD 1.22 | ▼ 3.94% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:59 UTC. This page is informational and not investment advice.
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