COR
Cencora, Inc.
COR's fundamentals are mixed: free cash flow more than tripled, while its operating margin held steady at 0.9%. At 26x earnings, it's trading in line with its usual 24x. Analysts expect earnings growth.
COR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Stable |
COR's profitability is currently healthy, and its revenue, cash flow and balance sheet are stable.
COR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $237 | -32% |
| Forward | 18x | $349 | — |
| Fair | 24x | $320 | -8.3% |
| Current | 26x | $349 | — |
| Expensive | 33x | $450 | +29% |
Historical ranges are pointers, not guarantees.
COR's PE is in its expensive range at 26x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
COR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect COR's earnings to grow, with its revenue and profitability holding steady.
COR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $19.77 | +47% |
| Q2 2026 | $13.47 | +38% |
| Q1 2026 | $13.05 | +51% |
| Q4 2025 | $8.33 | +18% |
| Q3 2025 | $7.96 | +5.7% |
| Q2 2025 | $9.74 | +5.8% |
| Q1 2025 | $8.64 | -5.5% |
| Q4 2024 | $7.05 | -23% |
| Q3 2024 | $7.53 | -12% |
COR earned $13.47 per share over the past year, up 38% from the year before.
COR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $84.8B | +5.1% |
| Q1 2026 | $78.4B | +3.8% |
| Q4 2025 | $85.9B | +5.5% |
| Q3 2025 | $83.7B | +5.9% |
| Q2 2025 | $80.7B | +8.7% |
| Q1 2025 | $75.5B | +10% |
| Q4 2024 | $81.5B | +13% |
| Q3 2024 | $79.1B | +15% |
COR's revenue has grown year over year every quarter since late 2020: $84.8B last quarter, up 5.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 1.3% | +0.2 points |
| Q1 2026 | 1.5% | +0.1 points |
| Q4 2025 | 0.9% | 0 points |
| Q3 2025 | 0% | -0.1 points |
| Q2 2025 | 1.1% | +0.2 points |
| Q1 2025 | 1.4% | +0.6 points |
| Q4 2024 | 0.9% | -0.3 points |
| Q3 2024 | 0.2% | -0.5 points |
COR's operating margin was 1.3% last quarter, about level with the same quarter a year ago.
COR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $2.4B | +$2.5B |
| Q1 2026 | $1.2B | -64% |
| Q4 2025 | -$2.4B | +$400.1M |
| Q3 2025 | $2.9B | +252% |
| Q2 2025 | -$74M | -103% |
| Q1 2025 | $3.2B | +$4.2B |
| Q4 2024 | -$2.8B | -448% |
| Q3 2024 | $818.1M | -50% |
COR generated $4.1B in free cash flow over the past year, about four times what it generated the year before.
COR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -1.4M shares |
| 1 year | -0.7% | -1.3M shares |
| 3 years | -5.1% | -10.4M shares |
| 5 years | -7.2% | -15M shares |
| Available history | -8.4% | -17.9M shares |
COR has 194M diluted shares, down 0.7% from a year ago, with $1B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $1B |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $71,000 |
| Q2 2025 | — |
| Q1 2025 | $50M |
| Q4 2024 | $385.4M |
| Q3 2024 | $505M |
COR spent $1B buying back its own shares over the past year, up 6.4% from the year before.
COR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.2x | Moderate |
| Q1 2026 | 2.7x | Moderate |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 1.6x | Healthy |
| Q3 2024 | 0.4x | Very low |
COR's net debt is about 2.2 years of its operating earnings (EBITDA), up from 1.6 years a year ago.
COR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.7 | Neutral |
| Stochastic | 68.6 | Neutral |
COR's weekly RSI is 64 (neutral) and its Stochastic is 69 (neutral).
COR PE vs Healthcare Sector
| Metric | COR | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 26x | 0.3% above |
| PE % | 68 | 29 | 39 pts above |
COR is trading at 26x earnings, in line with the Healthcare sector's median of 26x.
COR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $328.2 | 6.5% above |
| 20 week MA | $319.5 | 9.3% above |
| 50 week MA | $321.3 | 8.7% above |
| 100 week MA | $304.2 | 15% above |
| 200 week MA | $255.0 | 37% above |
COR is in an uptrend: it's above all five of its weekly moving averages, and 37% above its 200-week average.
COR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $84.9 | $97.0 | +14% |
| 2021 | $97.0 | $129.5 | +34% |
| 2022 | $129.5 | $170.0 | +31% |
| 2023 | $170.0 | $205.4 | +21% |
| 2024 | $205.4 | $226.9 | +10% |
| 2025 | $226.9 | $341.1 | +50% |
| 2026 YTD | $341.1 | $349.4 | +2.4% |
COR has finished every year since 2020 higher, and it's up 2.4% so far in 2026.