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NEW YORK STOCK EXCHANGE, INC. · Health Care · CIK 0001140859
$338.48
-0.57% · live
Updated
$65.64B market value
From Cencora, Inc.'s FY2025 10-K, filed Nov 25, 2025 · read the filing
Cencora distributes goods wholesale to other businesses. It took in $321.33B last year, which makes it one of the largest companies in the world. Of every dollar it sells, about 0 cents is left as profit.
The financial picture is led by accounting, with profitability and growth worth watching, while debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score 0.05
Recent open-market selling by 2 insiders, not under a pre-arranged plan.
$4.1M sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From Cencora, Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Long-term debt
$3.81B → $7.54B
Gross profit
$9.91B → $11.48B
Operating income
$2.18B → $2.63B
Cash
$3.13B → $4.36B
Measured against FY2024, from the 10-K filed Nov 25, 2025
Deteriorated: +97.9%
$3.81B to $7.54BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +15.8%
$9.91B to $11.48BSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
How the latest move compares (quote live), and what was published around it
COR fell 0.57% on the latest quote. The S&P 500 moved −1.04%. That is in line with the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 7% a year for the next 10 years. Over the last 10 years it shrank by about 1% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 0 cents of every dollar of sales as profit, earning $1.55B last year.
Slowly. Sales grew 9.3% last year.
No. Its borrowings would take under a year of cash flow to clear. For every $1 it owes, it owns $1.02 in assets. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 28 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 11% of the cash its operations generated. It has paid in each of the last 12 years.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $1.55B and generated $3.88B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Nov 25, 2025Filing for FY2025 | FY202410-K · Nov 26, 2024Filing for FY2024 | FY202310-K · Nov 21, 2023Filing for FY2023 | FY202210-K · Nov 22, 2022Filing for FY2022 | FY202110-K · Nov 23, 2021Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $321.33B | $293.96B | $262.17B | $238.59B | $213.99B | +9.3% |
| Cost of revenue | $309.85B | $284.05B | $253.21B | $230.29B | $207.05B | +9.1% |
| Gross profit | $11.48B | $9.91B | $8.96B | $8.30B | $6.94B | +15.8% |
| Gross marginGross profit ÷ revenueWhat is this? | 3.6% | 3.4% | 3.4% | 3.5% | 3.2% | +0.2 pts |
| Selling, general and administrative | $6.49B | $5.66B | $5.31B | $4.85B | $3.59B | +14.7% |
| Operating income | $2.63B | $2.18B | $2.34B | $2.37B | $2.35B | +20.8% |
| Operating marginOperating income ÷ revenueWhat is this? | 0.8% | 0.7% | 0.9% | 1.0% | 1.1% | +0.1 pts |
| Income before tax | $2.26B | $2.00B | $2.16B | $2.18B | $2.22B | +12.7% |
| Net income | $1.55B | $1.51B | $1.75B | $1.70B | $1.54B | +3.0% |
| Net marginNet income ÷ revenueWhat is this? | 0.5% | 0.5% | 0.7% | 0.7% | 0.7% | −0.0 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $8.01 | $7.74 | $8.69 | $8.24 | $7.40 | +3.5% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| CORCencora, Inc. · this page | 6.0/10 | 7/9 |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Sold on the open market — 986 shares at $303.18 ($298.9K)
Holds 15,183 shares after this filing.
Was granted or awarded shares — 275 shares
Holds 275 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Published results · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingWrite down why you are following Cencora, Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
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Baird Maintains Outperform on Cencora, Raises Price Target to $375
Benzinga ·
Cencora to Acquire American Oncology Network to Strengthen Support of Community Oncology
Yahoo ·
Here’s How Much You Would Have Made Owning Cencora Stock In The Last 5 Years
Benzinga ·
Cencora Agrees To Acquire Remaining Stake In American Oncology Network For $2.4B
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from COR's 10-K for fiscal year 2025 (period ending 2025-09-30, filed Nov 25, 2025), reported under the US GAAP taxonomy. View the source filing. Total liabilities were not tagged directly and were calculated as assets minus equity.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 6.0 | 7/9 | 10-K, filed Nov 25, 2025 |
| FY2024 | 6.0 | 7/9 | 10-K, filed Nov 26, 2024 |
| FY2023 | 6.0 | 6/9 | 10-K, filed Nov 21, 2023 |
| FY2022 | 6.0 | 8/9 | 10-K, filed Nov 22, 2022 |
| FY2021 | 6.0 | 6/9 | 10-K, filed Nov 23, 2021 |
| FY2020 | 5.0 | 5/9 | 10-K, filed Nov 19, 2020 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
7 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
0.05
In the distress zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-2.54
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +20.8%
$2.18B to $2.63BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +39.1%
$3.13B to $4.36BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: +37.1%
$487.2M to $668.0MSignificant
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +9.3%
$293.96B to $321.33BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +7.0%
$3.00B to $3.21BNotable
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Changed: +5.0%
$416.2M to $437.1MNotable
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Q3 FY2026 against Q3 FY2025, from the 10-Q filed Aug 5, 2026 — read it.
Deteriorated: +42.3%
$8.04B to $11.44BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +24.1%
$2.91B to $3.61BSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +29.1%
$867.7M to $1.12BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +26.1%
$2.23B to $2.82BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +5.1%
$80.66B to $84.75BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +11.1%
$687.4M to $763.5MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +12.8%
$3.55 to $4.00Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -1.6%
193.9M to 190.8MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q3 FY2026 against Q2 FY2026, from the 10-Q filed Aug 5, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: -53.5%
$1.64B to $763.5MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: -52.6%
$8.44 to $4.00Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +29.3%
$2.18B to $2.82BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +8.2%
$78.36B to $84.75BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: −1.2 pts
2.1% to 0.9%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: -6.1%
$12.18B to $11.44BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: -1.9%
194.6M to 190.8MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
6 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 4% and 9%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 20 analysts covering this company, as of . Their views, not this site's.
Of 20 analysts publishing on this company, 4 say strong buy, 10 say buy and 6 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 2.0% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 18.0x — investors pay $18.0 for each $1 of trailing profit.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
| 9.3% |
| 0.5% |
| 42.24x |
| 49.79x |
| MCKMCKESSON CORP | 6.0/10 | 6/9 | 12.4% | 1.2% | 25.55x | -38.90x |
|---|
| CAHCARDINAL HEALTH INC | 6.0/10 | 8/9 | 14.2% | 0.7% | 34.69x | -20.87x |
|---|
| Median of peers | 6.0/10 | — | 13.3% | 0.9% | 30.12x | -29.89x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Sold on the open market — 1,280 shares at $321.30 ($411.3K)
Holds 17,128 shares after this filing.
Sold on the open market — 985 shares at $325.97 ($321.1K)
Holds 16,169 shares after this filing.
Sold on the open market — 11,300 shares at $324.12 ($3.7M)
Holds 19,455 shares after this filing.
Was granted or awarded shares — 97 shares at $311.34 ($30.2K)
Holds 893 shares after this filing.
Was granted or awarded shares — 113 shares at $311.34 ($35.2K)
Holds 13,188 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 1,280 shares ($411.3K) on or after .
Shares originally obtained via Director Compensation.
Filed notice to sell 1,324 shares ($430.3K) on or after .
Shares originally obtained via Restricted Stock Vesting.
Filed notice to sell 10,000 shares ($3.4M) on or after .
Shares originally obtained via Option Granted.
Filed notice to sell 6,593 shares ($2.2M) on or after .
Shares originally obtained via Restricted Stock Vesting.
Filed notice to sell 11,301 shares ($3.7M) on or after .
Shares originally obtained via ESPP Purchase.
Filed notice to sell 20,000 shares ($6.3M) on or after .
Shares originally obtained via Restricted Stock Vesting.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Had a director or senior officer leave or join
Made a Regulation FD disclosure
Read the filingQuarterly report for Q3 FY2026
Revenue +5.1% · Long-term debt +42.3% · Gross profit +24.1% — against Q3 FY2025
Read the filingSigned a material agreement · Took on a direct financial obligation
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2026
Profit margin +1.1 pts · Profit +128.6% · Earnings per share +127.7% — against Q2 FY2025
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingHeld a shareholder vote
Read the filingMade a Regulation FD disclosure · Reported another event
Read the filingSigned a material agreement · Took on a direct financial obligation · Made a Regulation FD disclosure · Reported another event
Read the filingMade a Regulation FD disclosure · Reported another event
Read the filingReported another event
Read the filingQuarterly report for Q1 FY2026
Revenue +5.5% · Cash -45.6% · Gross profit +20.1% — against Q1 FY2025
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingBenzinga ·
Primary sources and further research