Cencora, Inc.
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Range $330 – $430
Price Chart
About the company
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.
- CEO
- Robert Mauch
- IPO
- 1995
- Employees
- 49,000
- HQ
- Conshohocken, PA, US
AI snapshot
Six angles, distilled from the data.
The stock is in a corrective phase after a strong multi-month run, now trading below both the 50-day and 200-day moving averages. It remains well above the 52-week low, but the retreat from the upper end of the range shows momentum has cooled and the setup is more consolidation than breakout.
Street sentiment stays constructive, with a Buy consensus and a $358.14 average target versus a recent close near $309. Price targets have been reset higher in several recent notes, including UBS at $430 and Baird at $370, while RBC’s Sector Perform keeps the debate centered on valuation rather than fundamentals.
Cencora has a clean beat streak, with seven straight EPS beats and the last four quarters all ahead of estimates. Next quarter is set against a $4.54 EPS bar, so shareholders should watch whether the company can keep modest upside intact while analysts still model higher EPS into next year.
Recent insider activity is mixed but not alarming. Discretionary buying came from directors Dermot Mark Durcan and Lauren M. Tyler, while the larger sales were from an executive vice president, the chief accounting officer, and a director. Several award grants also landed in the period, which looks more like compensation flow than a strong directional signal.
Profitability is solid, with 5.1% revenue growth, 11.9% earnings growth, and a 7.9% net margin. Free cash flow was $4.54 billion in fiscal 2025, but leverage remains meaningful with $10.75 billion of debt against $4.39 billion of cash and a net cash deficit of $6.35 billion.
Cencora’s edge is scale and consistency in pharmaceutical distribution, where its margins and cash generation support a premium profile versus slower-moving peers. The stock still trades below the consensus target, but the valuation already reflects a mature, defensive healthcare distributor rather than a deep discount.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $60.91B
- P/E
- 23.15
- Fwd P/E
- 15.80
- PEG
- 0.61
- P/S
- 0.18
- P/B
- 19.82
- EV/EBITDA
- 13.60
- Div Yield
- 0.77%
- Gross Margin
- 3.71%
- Op Margin
- 1.30%
- Net Margin
- 0.79%
- ROE
- 106.43%
- ROIC
- 12.75%
Latest fiscal year · YoY change
- Revenue
- $321.33B+9.3%
- Gross Profit
- $10.14B+16.6%
- Op Income
- $3.65B
- Net Income
- $1.55B+3.0%
- EPS
- $8.02+5.5%
- OCF Growth
- +11.2%
- FCF Growth
- +7.0%
- 52W High
- $377.54
- 52W Low
- $244.82
- 50D MA
- $317.79
- 200D MA
- $318.05
- Beta
- 0.57
- RSI (14)
- 49
- Avg Volume
- 1.37M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Cencora reported strong Q3 fiscal 2026 results, led by specialty growth and OneOncology contribution, and raised full-year adjusted EPS guidance.· August 5, 2026
- Adjusted EPS grew 12% in the quarter, helped by $1 billion of opportunistic share repurchases.
- Revenue was $84.8 billion, up 5%, with adjusted operating income up 17% to $1.2 billion.
- Consolidated adjusted gross profit was $3.5 billion, up 23%, and gross margin expanded 61 basis points to 4.16%.
- U.S. Healthcare Solutions revenue rose 5% to $74.9 billion; segment operating income increased 16% to $966 million.
- Management raised full-year adjusted EPS guidance to $17.75-$17.95 and lifted expected consolidated operating income growth to 13%-14%.
Cencora reported Q3 fiscal 2026 revenue of $84.8 billion, up 5% year over year. Adjusted gross profit was $3.5 billion, up 23%, and adjusted gross margin expanded 61 basis points to 4.16%. Adjusted operating income was $1.2 billion, up 17%, and adjusted EPS increased 12%. U.S. Healthcare Solutions revenue was $74.9 billion, up 5%, with segment operating income up 16% to $966 million. International Healthcare Solutions revenue was $7.7 billion, up 6%, with operating income up 21% as reported and 23% constant currency. Other revenue was $2.3 billion, up 7%, and operating income was $109 million, up 25%. Net interest expense was $141 million, cash was $2.8 billion at quarter-end, and year-to-date adjusted free cash flow was $1.1 billion. Full-year adjusted free cash flow guidance remains approximately $3 billion. Management raised fiscal 2026 adjusted EPS guidance to $17.75-$17.95 from $17.70-$17.90, kept consolidated revenue guidance unchanged, said U.S. revenue growth should be in the lower half of the 4%-6% range, and now expects International revenue growth of approximately 8% at the low end of the prior range (about 7% constant currency). Consolidated operating income growth is now expected to be 13%-14%.
Bob Mauch said the quarter reflected strong execution across Cencora and continued investment in its specialty and pharmaceutical-centric strategy. He emphasized three pillars: the specialty pharmaceutical platform, digital transformation, and talent/culture, while arguing that biosimilars, Part B in particular, remain a durable opportunity. His tone was confident and upbeat, especially around long-term growth, MSO integration, and the company’s ability to keep delivering within its long-term guidance range.
Eva Boratto highlighted that adjusted operating income grew 17% and adjusted EPS rose 12%, with the quarter benefiting from strong U.S. Healthcare Solutions performance, continued International growth, and share repurchases. She pointed to consolidated adjusted gross profit of $3.5 billion, margin of 4.16%, cash of $2.8 billion, year-to-date adjusted free cash flow of $1.1 billion, and unchanged full-year free cash flow guidance of about $3 billion. She also noted net interest expense of $141 million, the repayment of the full $800 million RCA financing-related term loan balance, and updated full-year guidance reflecting $1 billion of buybacks and a lower share count of about 194 million.
Analysts pressed on the apparent reacceleration in U.S. Healthcare Solutions, especially specialty and oncology, and management said the improvement was driven by stronger utilization trends, MSOs, and OneOncology outperforming expectations. Questions also focused on Part B versus Part D biosimilars, 340B, ASP rule changes, and whether the Street’s 2027 growth assumptions fit management’s view; Bob said the company is comfortable with its long-term guidance and sees Part B biosimilars as a durable positive. Management also said OneOncology remains neutral on adjusted EPS net of financing on a 12-month basis, its operating income is modestly better than initial expectations, and the company is still assessing regulatory changes including 340B and ASP-related proposals.
The call showed broad-based momentum, with U.S. specialty, OneOncology, International specialty logistics, and MWI all contributing to growth. Management sounded confident that the company’s pharmaceutical-centric strategy, MSO platform, and biosimilar exposure—especially in Part B—can continue to support durable earnings growth and long-term value creation.
Management acknowledged revenue pressure from manufacturer list price reductions, the loss of an oncology customer, and lower sales to a large mail-order customer. They also flagged a stronger dollar as a headwind to International revenue growth, ongoing regulatory uncertainty around 340B and ASP-related changes, and still-uncertain timing for the MWI/Covetrus transaction and the EyeSouth Retina carve-out acquisition.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 93.9%
- Shares Outstanding
- 194.56M
- Float Shares
- 182.66M
of shares held by institutions
1,390 13F filers
Congressional trading
Senate and House stock disclosures for COR, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Alan ArmstrongSenate | Buy | Mar 27, 26 | Filing → |
| Jared MoskowitzHouse · FL23 | Sell | May 6, 26 | Filing → |
| Jared MoskowitzHouse · FL23 | Sell | May 6, 26 | Filing → |
| Jared MoskowitzHouse · FL23 | Buy | Mar 23, 26 | Filing → |
| Jared MoskowitzHouse · FL23 | Buy | Mar 23, 26 | Filing → |
| Jared MoskowitzHouse · FL23 | Buy | Mar 31, 26 | Filing → |
| Jefferson ShreveHouse · IN06 | Sell | May 12, 25 | Filing → |
| Greg LandsmanHouse · OH01 | Sell | Mar 27, 25 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Nov 15, 24 | Filing → |
| Michael T. McCaulHouse · TX10 | Buy | Oct 9, 24 | Filing → |
| Michael T. McCaulHouse · TX10 | Buy | Oct 9, 24 | Filing → |
| Greg LandsmanHouse · OH01 | Buy | May 29, 24 | Filing → |
| Michael T. McCaulHouse · TX10 | Sell | Feb 20, 24 | Filing → |
| Michael T. McCaulHouse · TX10 | Sell | Feb 20, 24 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 23.62M | ▲ 221.57K |
| Blackrock, Inc. | 18.21M | ▼ 1.73M |
| Vanguard Capital Management LLC | 12.38M | ▲ 65.48K |
| Vanguard Portfolio Management LLC | 9.61M | ▲ 21.34K |
| State Street Corp | 9.27M | ▲ 83.43K |
| T. Rowe Price Investment Management, Inc. | 7.41M | ▲ 1.12M |
| Price T Rowe Associates Inc | 7.13M | ▼ 191.02K |
| Jpmorgan Chase & Co | 5.94M | ▲ 1.06M |
| Geode Capital Management, LLC | 5.45M | ▼ 111.16K |
| Boston Partners | 4.87M | ▲ 385.96K |
| Wellington Management Group Llp | 4.56M | ▲ 11.15K |
| Fmr LLC | 4.12M | ▼ 2.56M |
Held by 1,954 ETFs
Biggest fund positions in COR by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Oct 1, 26 | SANCHEZ ROBERT E | other | 275 |
| Oct 1, 26 | Krikorian Lazarus | sell | 986 |
| Oct 1, 26 | SANCHEZ ROBERT E | other | 0 |
| Sep 16, 26 | GREENBERG LON R | sell | 1,280 |
| Sep 1, 26 | Krikorian Lazarus | sell | 985 |
| Aug 24, 26 | Campbell Elizabeth S | sell | 11,300.471 |
| Jul 31, 26 | NALLY DENNIS M | other | 113 |
| Jul 31, 26 | Cooper Ellen | other | 97 |
| Jul 31, 26 | Tyler Lauren M | other | 97 |
| Jun 30, 26 | Battaglia Silvana | other | 58.204 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our COR coverage
Recent articles, reports, and earnings notes.

Cencora (COR): Specialty Growth and Margin Mix
Cencora posted 7.5% adjusted EPS growth in Q2 and raised full-year guidance, with specialty pharmaceuticals and international healthcare driving the upside. Thin margins and higher debt keep the story balanced, but the stock still screens as a Buy.

Cencora, Inc. (COR) gains after deep earnings beat analysis
Cencora, Inc. (COR) posted a clean earnings beat, with EPS and revenue topping estimates and shares gaining 3.41%. This deep-dive examines segment performance, margin drivers, updated guidance, and what the result says about the company’s operating momentum and valuation backdrop.

Cencora, Inc. (COR) gains on earnings beats, up 3.2%
Cencora, Inc. (COR) gains 3.2% after posting earnings beats, lifting shares as investors react to stronger-than-expected quarterly results.
Want a deeper read on COR?
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Cencora Remains A Buy At These Prices, As Healthcare Supply-Chain Needs Grow
seekingalpha.com · Oct 6
Cencora Announces Date and Time for Fourth Quarter Fiscal 2026 Earnings Release
businesswire.com · Oct 2
Cencora Elects Robert E. Sanchez to Its Board of Directors
businesswire.com · Sep 25
Here's Why Cencora (COR) is a Strong Growth Stock
zacks.com · Sep 23
Cencora Sees Specialty Strategy Fueling Growth Into Fiscal 2027
marketbeat.com · Sep 21
Cencora Highlights Specialty Growth, MSO Expansion and Walgreens Ties at Conference
defenseworld.net · Sep 21
Cencora Highlights Specialty Growth, MSO Expansion and Walgreens Ties at Conference
marketbeat.com · Sep 21
Here's Why Cencora (COR) is a Strong Value Stock
zacks.com · Sep 18
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed October 4, 2026 · Live quote · Not investment advice