NYSE: COR
Cencora
Health Care · Wholesale-Drugs, Proprietaries & Druggists' Sundries
52-week range
$244.82$377.54
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$54.0B
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| Period | Market cap |
|---|---|
| FY2016, ended Sep 30, 2016 | $17.8B |
| FY2017, ended Sep 30, 2017 | $18.0B |
| FY2018, ended Sep 30, 2018 | $19.5B |
| FY2019, ended Sep 30, 2019 | $17.0B |
| FY2020, ended Sep 30, 2020 | $19.8B |
| FY2021, ended Sep 30, 2021 | $24.9B |
| FY2022, ended Sep 30, 2022 | $27.8B |
| FY2023, ended Sep 30, 2023 | $36.1B |
| FY2024, ended Sep 30, 2024 | $43.5B |
| FY2025, ended Sep 30, 2025 | $60.6B |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $54.0B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$333B
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| Period | Revenue |
|---|---|
| FY2016, ended Sep 30, 2016 | $147B |
| FY2017, ended Sep 30, 2017 | $153B |
| FY2018, ended Sep 30, 2018 | $168B |
| FY2019, ended Sep 30, 2019 | $180B |
| FY2020, ended Sep 30, 2020 | $190B |
| FY2021, ended Sep 30, 2021 | $214B |
| FY2022, ended Sep 30, 2022 | $239B |
| FY2023, ended Sep 30, 2023 | $262B |
| FY2024, ended Sep 30, 2024 | $294B |
| FY2025, ended Sep 30, 2025 | $321B |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $333B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Sep 30, 2016 | $1.43B | $2.71B |
| FY2017, ended Sep 30, 2017 | $364M | $1.04B |
| FY2018, ended Sep 30, 2018 | $1.66B | $1.07B |
| FY2019, ended Sep 30, 2019 | $855M | $2.03B |
| FY2020, ended Sep 30, 2020 | −$3.41B | $1.84B |
| FY2021, ended Sep 30, 2021 | $1.54B | $2.23B |
| FY2022, ended Sep 30, 2022 | $1.70B | $2.21B |
| FY2023, ended Sep 30, 2023 | $1.75B | $3.45B |
| FY2024, ended Sep 30, 2024 | $1.51B | $3.00B |
| FY2025, ended Sep 30, 2025 | $1.55B | $3.21B |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $2.62B | $4.06B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$2.82B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Sep 30, 2016 | $2.74B |
| FY2017, ended Sep 30, 2017 | $2.44B |
| FY2018, ended Sep 30, 2018 | $2.49B |
| FY2019, ended Sep 30, 2019 | $3.37B |
| FY2020, ended Sep 30, 2020 | $4.60B |
| FY2021, ended Sep 30, 2021 | $2.55B |
| FY2022, ended Sep 30, 2022 | $3.39B |
| FY2023, ended Sep 30, 2023 | $2.59B |
| FY2024, ended Sep 30, 2024 | $3.13B |
| FY2025, ended Sep 30, 2025 | $4.36B |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $2.82B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$11.7B
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| Period | Total debt |
|---|---|
| FY2016, ended Sep 30, 2016 | $4.19B |
| FY2017, ended Sep 30, 2017 | $3.44B |
| FY2018, ended Sep 30, 2018 | $315M |
| FY2019, ended Sep 30, 2019 | $4.28B |
| FY2020, ended Sep 30, 2020 | $4.22B |
| FY2021, ended Sep 30, 2021 | $6.98B |
| FY2022, ended Sep 30, 2022 | $5.70B |
| FY2023, ended Sep 30, 2023 | $4.79B |
| FY2024, ended Sep 30, 2024 | $4.39B |
| FY2025, ended Sep 30, 2025 | $7.66B |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | $11.7B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 13.3% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.191M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Sep 30, 2016 | 220M |
| FY2017, ended Sep 30, 2017 | 218M |
| FY2018, ended Sep 30, 2018 | 212M |
| FY2019, ended Sep 30, 2019 | 206M |
| FY2020, ended Sep 30, 2020 | 204M |
| FY2021, ended Sep 30, 2021 | 208M |
| FY2022, ended Sep 30, 2022 | 206M |
| FY2023, ended Sep 30, 2023 | 201M |
| FY2024, ended Sep 30, 2024 | 193M |
| FY2025, ended Sep 30, 2025 | 194M |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | 191M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $149M more issued than bought back
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| Period | Bought back | Paid to employees | Sold for cash | Used in acquisitions |
|---|---|---|---|---|
| FY2016, ended Sep 30, 2016 | $2.27B | $65.0M | — | — |
| FY2017, ended Sep 30, 2017 | $330M | $62.2M | — | — |
| FY2018, ended Sep 30, 2018 | $639M | $62.3M | $0 | — |
| FY2019, ended Sep 30, 2019 | $674M | $58.9M | $0 | — |
| FY2020, ended Sep 30, 2020 | $420M | $74.4M | $66.4M | — |
| FY2021, ended Sep 30, 2021 | $82.2M | $99.6M | $0 | $235M |
| FY2022, ended Sep 30, 2022 | $484M | $93.4M | $0 | — |
| FY2023, ended Sep 30, 2023 | $1.18B | $125M | — | — |
| FY2024, ended Sep 30, 2024 | $1.49B | $148M | — | — |
| FY2025, ended Sep 30, 2025 | $435M | $148M | — | $74.7M |
| Trailing 12 months to Jun 30, 2026 (through Q3 FY2026) | — | $149M | — | — |
Revenue (TTM)
$333B
+5.1% YoY
Net income (TTM)
$2.62B
+38.3% YoY
Cash
$2.82B
+26.1% YoY
Total debt
$11.7B
+42.3% YoY
Valuation
At current price- Market Cap
- $63.1B
- P/E
- 24.1×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 0.2×
- Price / Book
- 20.7×
- EV / EBITDA
- 17.7×
Growth
Trailing 12 months- Revenue (TTM)
- $333B
- Revenue Growth YoY
- 5.1%
- Revenue CAGR 3Y
- 10.4%
- Revenue CAGR 5Y
- 11.1%
- EPS Growth YoY
- 38.3%
- Net Income Growth YoY
- 38.3%
Profitability
Trailing 12 months- Gross Margin
- 4.0%
- Operating Margin
- 0.9%
- Net Margin
- 0.8%
- FCF Margin
- 1.2%
- Return on Equity
- 104%
Earnings
Trailing 12 months- Net Income
- $2.62B
- EPS (diluted)
- $13.47
- EBITDA
- $4.08B
- Operating Income
- $3.04B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $2.82B
- Total Debt
- $11.7B
- Net Debt
- $8.91B
- Total Assets
- $83.8B
- Total Liabilities
- $80.6B
- Shareholders' Equity
- $3.05B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $4.82B
- Capital Expenditure
- $761M
- Free Cash Flow
- $4.06B
Dividends and risk
Last 12 months- Dividend Yield
- 0.7%
- Dividend / Share
- $2.40
- Beta (5Y)
- 0.58
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 5.1% year over year, at $333B.
Note
Net margin of 0.8% over the last 12 months.
Note
Net debt of $8.91B is 2.2× EBITDA.
Note
Free cash flow of $4.06B, 1.2% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Sep 30, 2025 · filed Nov 25, 2025
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K50Some concerns
50Some concerns
10-K for the fiscal year ended Sep 30, 2024
Filed Nov 26, 2024 · Read the filing on EDGAR
- Revenue rose 12.1% to $294.0 billion, driven by GLP-1 drug sales, which rose 43.4%. Operating income fell 7.1% to $2.18 billion.
- The company wrote down $418 million of goodwill (the premium it paid) on PharmaLex because demand for its life-sciences consulting services weakened.
- Agreed to buy Retina Consultants of America for about $4.6 billion, paid for with cash and new debt, backed by a $3.3 billion bridge loan.
- Bought back $1.5 billion of shares, raised the dividend 8%, and renewed the Evernorth (Express Scripts) supply deal through 2029.
Business momentum
Mixed
“Revenue increased by $31.8 billion, or 12.1%, from the prior fiscal year primarily due to growth in the U.S. Healthcare Solutions segment.”
Outlook
Neutral
“We anticipate a potential June 2025 loss of an oncology customer following its recently announced pending acquisition.”
Financial stress
Low
“Future cash flows from operations and borrowings are expected to be sufficient to fund our ongoing cash requirements, including the opioid litigation payments that will be made over the next 14 years”
Tone against the previous report
About the same
Red flags
- Medium
Large write-down
“We recorded a $418.0 million goodwill impairment related to PharmaLex in fiscal 2024”
- Minor
Major lawsuit
“Litigation and opioid-related expenses, net in fiscal 2024 included a $214.0 million litigation expense accrual for ongoing litigation related to the distribution of prescription opioid medications”
- Minor
Other
“In March 2024, we experienced a cybersecurity event where data from our information systems was exfiltrated.”
Positives
Strong US segment growth
“U.S. Healthcare Solutions' operating income increased by $338.3 million, or 13.0%, from prior fiscal year”
Evernorth contract extended to 2029
“In September 2024, we extended our pharmaceutical supply agreement with Evernorth Health Services (formerly Express Scripts, Inc.) for an additional three years through September 2029.”
Higher dividend and buybacks
“Net cash used in financing activities in fiscal 2024 included $1.5 billion in purchases of our common stock”
Concerns
Reported operating income fell despite higher sales
“Operating income $ 2,175,249 $ 2,340,731 (7.1)%”
Opioid settlement still large
“The $4.9 billion liability will be paid over 14 years.”
Low-margin GLP-1 drugs squeezing margins
“gross profit margin of 2.42% in the current fiscal year declined 6 basis points compared to the prior fiscal year primarily due to higher sales of GLP-1 products, which have lower gross profit margins”
New risks since the previous report
Large Retina Consultants purchase funded partly with new debt
“We expect to fund the transaction through a combination of cash on hand and new debt financing and have obtained $3.3 billion in bridge financing commitments in connection with the transaction.”
Walgreens plans to close about 1,200 stores
“Additionally, in October 2024, WBA disclosed a plan to close approximately 1,200 retail stores over a three-year period.”
Expected loss of an oncology customer in 2025
“We anticipate a potential June 2025 loss of an oncology customer following its recently announced pending acquisition.”
Weaker demand at PharmaLex
“we have experienced a weakening in demand for specialized services in the life sciences industry, which has negatively impacted the operating results of PharmaLex.”
Medicaid rebate cap removal is pushing down drug list prices
“the removal of the ceiling on manufacturer Medicaid rebate amounts, effective January 1, 2024, has led to WAC price reductions and affected manufacturer price increases for certain products.”
Biggest risks named
- Dependence on Walgreens (26% of revenue) and its store closures
- Opioid litigation and $4.9 billion in settlement payments
- Integrating PharmaLex and Retina Consultants of America, plus acquisition debt
- Drug pricing reforms (Inflation Reduction Act, Medicaid rebate changes, 340B)
- Cybersecurity incidents and data breaches
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −5.1 | |
| New risks | −2 | |
| Score | 50 | |
Written by AI (Claude Opus 5.5) from the report’s text. 17 of 17 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Nov 25, 2025 | Pro | |||
| 10-K | Nov 26, 2024 | 50 | Mixed | 1 medium2 minor | |
| 10-K | Nov 21, 2023 | 63 | Improving | 1 minor | |
| 10-K | Nov 22, 2022 | 63 | Improving | 1 minor | |
| 10-K | Nov 23, 2021 | 75 | Strong improvement | None | |
| 10-K | Nov 19, 2020 | 35 | Sharp deterioration | 1 medium1 minor | |
| 10-K | Nov 19, 2019 | 35 | Sharp deterioration | 1 medium1 minor | |
| 10-K | Nov 20, 2018 | 48 | Mixed | 1 medium2 minor | |
| 10-K | Nov 21, 2017 | 34 | Sharp deterioration | 2 medium | |
| 10-K | Nov 22, 2016 | 64 | Strong improvement | 1 medium1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Jun 30, 2026), filed Aug 5, 2026. View filings on SEC EDGAR