Cencora COR

NYSE · Wholesale-Drugs, Proprietaries & Druggists' Sundries · $67.6B

$339.68−4.05%Nov 5 close · Databento

Every report since 2023 →

🔒 Click to interact · scroll moves the page

COR Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $339.681D −4.05%3M +4.52%SMA20 $335.19SMA50 $324.87RSI(14) 56.5

339.68

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 56.5

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

1 story has a settled next close so far (1 on the Wire). The record starts speaking at three.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$67.6B

EV / True FCF23.2x

Revenue$321.3B +9.3%

True FCF (ex-SBC)$3.1B +7.0%

Rule of 4010.3%

ROIC35.6%

True FCF Yield4.5%

EPS, diluted$7.96 +5.7%

Modern Valuation (EOD)

Market Cap$67.6B

Enterprise Value$70.9B

EV / True FCF23.19

EV / FCF22.12

EV / Gross Profit6.18

EV / EBIT26.99

EV / Sales0.22

P / E (GAAP)43.47

P / FCF21.06

P / Oper. CF17.43

P / Book38.67

Owner & Cash Yields

True FCF Yield4.5%

FCF Yield4.7%

Owner Earn. Yield2.6%

Earnings Yield2.3%

Shareholder Yield+1.1%

Buyback Yield0.6%

Dividend Yield0.65%

Dividend / sh$2.20

Payout Ratio28%

FCF / sh$16.81

EPS (diluted)$7.96

Compounder & Returns

Rule of 4010.3%

ROIC35.6%

Cash ROIC (CROIC)62.5%

GP / Assets15.0%

ROE89.0%

ROA2.0%

Gross Margin3.6%

Oper. Margin0.8%

Net Margin0.5%

FCF Margin1.0%

True FCF Margin1.0%

Quality & Dilution

Cash Conversion206%

Accrual Ratio−3.0%

SBC % of FCF4.6%

SBC % of Rev0.0%

Reinvest. Rate17%

Sales Growth Y/Y+9.3%

Sales 3Y CAGR+10.4%

EPS Growth Y/Y+5.7%

FCF Growth Y/Y+7.0%

FCF 3Y CAGR+13.3%

Share Change Y/Y−2.5%

Balance Sheet & Scale

Revenue (FY)$321.3B

Gross Profit (FY)$11.5B

Oper. Income (FY)$2.6B

GAAP Net Income$1.6B

True FCF (ex-SBC)$3.1B

Cash & Equiv$4.4B

Total Debt$7.8B

Net Cash (Debt)$-3.4B

Net Cash % MCap−5.0%

Debt / FCF (yrs)2.4y

Current Ratio0.90190.83M sh

Price & Technicals (EOD)

Perf Week+2.77%

Perf Month+7.07%

Perf Quarter+6.00%

Perf Half Y+32.86%

Perf YTD+5.16%

SMA 20 Dist+1.34%$335.19

SMA 50 Dist+4.56%$324.87

SMA 100 Dist+7.83%$315.00

Window High−4.05%$354.00

Window Low+34.40%$252.74

RSI (14) · Vol56.528%v

Income Distribution & Cash Flow ConversionHow every dollar of COR revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$309.9B ($96.4 / $100)

SG&A & Other OpEx$7.0B ($2.2 / $100)

Tax & Non-Operating$1.1B ($0.3 / $100)

Net Profit Kept$1.6B ($1.1 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$1.6B (0.5% margin)

Operating Cash Flow (OCF)$3.9B(1.2% of rev)

Less: Capital Expenditures−$668.0M(0.2% of rev)

Standard Free Cash Flow (FCF)$3.2B(1.0% margin)

Less: Stock-Based Comp (SBC)−$148.0M(4.6% of FCF)

True FCF (Owner Cash ex-SBC)$3.1B(1.0% of rev)

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$214.0B	$238.6B	$262.2B	$294.0B	$321.3B	+9.3%	+10.7%
Cost of Revenue (COGS)	$207.0B	$230.3B	$253.2B	$284.0B	$309.9B	+9.1%	+10.6%
Gross Profit	$6.9B	$8.3B	$9.0B	$9.9B	$11.5B	+15.8%	+13.4%
Selling, General & Admin (SG&A)	$3.6B	$4.8B	$5.3B	$5.7B	$6.5B	+14.7%	+15.9%
Total Operating Expenses	$4.6B	$5.9B	$5.7B	$6.1B	$7.0B	+14.8%	+11.1%
Operating Income (EBIT)	$2.4B	$2.4B	$2.3B	$2.2B	$2.6B	+20.8%	+2.8%
Income Tax Expense	$677.3M	$516.5M	$428.3M	$484.7M	$690.5M	+42.5%	+0.5%
GAAP Net Income	$1.5B	$1.7B	$1.7B	$1.5B	$1.6B	+3.0%	+0.2%
Diluted EPS	$7.39	$8.04	$8.53	$7.53	$7.96	+5.7%	+1.9%
Diluted Shares	208.5M	211.2M	204.6M	200.3M	195.2M	−2.5%	−1.6%
Balance Sheet
Cash & Equivalents	$3.1B	$3.6B	$2.8B	$3.3B	$4.4B	+33.3%	+9.4%
Inventory	$15.4B	$15.6B	$17.5B	$19.0B	$20.5B	+7.9%	+7.5%
Total Current Assets	$38.8B	$39.6B	$42.8B	$47.7B	$52.2B	+9.5%	+7.7%
Total Assets	$57.3B	$56.6B	$62.6B	$67.1B	$76.6B	+14.1%	+7.5%
Total Current Liabilities	$41.4B	$43.5B	$48.8B	$54.3B	$57.8B	+6.5%	+8.7%
Total Debt (Short + Long Term)	$7.0B	$6.8B	$5.4B	$5.0B	$7.8B	+56.7%	+2.7%
Stockholders' Equity	$584.4M	$71.3M	$666.3M	$786.7M	$1.7B	+122.1%	+31.5%
Net Cash / (Net Debt)	$-3.9B	$-3.2B	$-2.7B	$-1.7B	$-3.4B	−103.1%	—
Invested Capital	$4.5B	$3.3B	$3.3B	$2.5B	$5.1B	+109.2%	+3.3%
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$2.7B	$2.7B	$3.9B	$3.5B	$3.9B	+11.2%	+9.8%
Depreciation & Amortization (D&A)	$505.2M	$693.9M	$963.9M	$1.1B	$1.1B	−3.7%	+20.1%
Stock-Based Compensation (SBC)	$99.6M	$93.4M	$124.6M	$148.0M	$148.0M	−0.0%	+10.4%
Capital Expenditures (CapEx)	$438.2M	$496.3M	$458.4M	$487.2M	$668.0M	+37.1%	+11.1%
Free Cash Flow (FCF)	$2.2B	$2.2B	$3.5B	$3.0B	$3.2B	+7.0%	+9.5%
True FCF (ex-SBC Owner Cash)	$2.1B	$2.1B	$3.3B	$2.8B	$3.1B	+7.4%	+9.5%
Share Repurchases (Buybacks)	$82.2M	$483.7M	$1.2B	$1.5B	$435.5M	−70.8%	+51.7%
Dividends Paid	$366.6M	$391.7M	$398.8M	$416.2M	$437.1M	+5.0%	+4.5%

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what COR did at the next close after each story

Sep 19

Cencora raises guidance and buys back $1B as thin margins persist

Yahoo Finance · 8:38 AM ET

+2.50%

What happened · big days

14 big days in a year, and what we hold on each

A big day is a close more than 3.00% from the one before, three times COR’s median day (1.00%). On 7 of the 14, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±3.00%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayCORWhat we hold that dayGroup (median of 4) · each

1 Dec 3, 2025−4.38%
Before our storiesgroup −1.3%, did not move with it
1Dec 3, 2025−4.38%
Before our stories
−1.3% did not move with itMCK −2.9 · CAH −2.6 · HLF 0.0 · NUS +1.4
2 Feb 4, 2026−8.79%
Resultsgroup −1.8%, did not move with it
2Feb 4, 2026−8.79%
ResultsFirst close after the Feb 4 results filing
−1.8% did not move with itCAH −5.1 · MCK −3.4 · HLF −0.1 · NUS +0.5
3 Feb 5, 2026+6.72%
Before our storiesgroup +5.4%, moved with COR
3Feb 5, 2026+6.72%
Before our stories
+5.4% moved with CORMCK +16.5 · CAH +9.8 · NUS +1.0 · HLF −1.4
4 Feb 12, 2026−4.00%
Before our storiesgroup −3.4%, moved with COR
4Feb 12, 2026−4.00%
Before our stories
−3.4% moved with CORCAH −4.1 · MCK −3.9 · HLF −2.9 · NUS +0.4
5 Mar 17, 2026−3.23%
Before our storiesgroup +0.3%, did not move with it
5Mar 17, 2026−3.23%
Before our stories
+0.3% did not move with itCAH −0.6 · MCK −0.1 · NUS +0.8 · HLF +1.7
6 Apr 21, 2026−3.29%
Before our storiesgroup −3.0%, moved with COR
6Apr 21, 2026−3.29%
Before our stories
−3.0% moved with CORNUS −4.5 · CAH −3.0 · HLF −2.9 · MCK −1.9
7 May 6, 2026−17.38%
Resultsgroup −1.3%, did not move with it
7May 6, 2026−17.38%
ResultsFirst close after the May 6 results filing
−1.3% did not move with itMCK −7.2 · CAH −2.8 · NUS +0.1 · HLF +1.1
8 May 22, 2026+3.57%
Before our storiesgroup −0.0%, did not move with it
8May 22, 2026+3.57%
Before our stories
−0.0% did not move with itNUS +0.3 · CAH +0.0 · MCK −0.1 · HLF −2.0
9 Jun 23, 2026+3.62%
Nothing on CORgroup +2.7%, moved with COR
9Jun 23, 2026+3.62%
Nothing on CORNo COR story, brief or results filing in our record that day
+2.7% moved with CORNUS +3.2 · CAH +2.8 · MCK +2.6 · HLF +1.1
10 Jul 16, 2026+3.85%
Nothing on CORgroup +3.0%, moved with COR
10Jul 16, 2026+3.85%
Nothing on CORNo COR story, brief or results filing in our record that day
+3.0% moved with CORMCK +5.7 · NUS +4.3 · CAH +1.7 · HLF −0.8
11 Aug 5, 2026+3.57%
Resultsgroup +0.4%, did not move with it
11Aug 5, 2026+3.57%
ResultsFirst close after the Aug 5 results filing
+0.4% did not move with itMCK +5.6 · CAH +2.4 · HLF −1.6 · NUS −2.1
12 Aug 12, 2026−5.90%
Nothing on CORgroup −1.5%, did not move with it
12Aug 12, 2026−5.90%
Nothing on CORNo COR story, brief or results filing in our record that day
−1.5% did not move with itMCK −2.5 · CAH −2.5 · HLF −0.4 · NUS −0.4
13 Oct 1, 2026+3.17%
Nothing on CORgroup +2.3%, moved with COR
13Oct 1, 2026+3.17%
Nothing on CORNo COR story, brief or results filing in our record that day
+2.3% moved with CORMCK +5.3 · CAH +3.4 · HLF +1.2 · NUS +0.4
14 Nov 4, 2026+3.96%
Resultsgroup +6.3%, moved with COR
14Nov 4, 2026+3.96%
ResultsFirst close after the Nov 4 results filing
+6.3% moved with CORMCK +7.0 · HLF +6.5 · NUS +6.2 · CAH +3.5

A story on the same day is not a cause, and a group move is not proof either. Group: the median of MCK, CAH, HLF and NUS that day, the largest companies in COR’s SEC industry; “moved with COR” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). COR reports before the open, so day 1 is that day’s close. 3 of 4 times, day 6 ended on the same side as day 1.

Reported Nov 5, 2025

day 1+2.75%day 6+5.48%

Reported Feb 4, 2026

day 1−8.79%day 6+1.09%

Reported May 6, 2026

day 1−17.38%day 6−16.42%

Reported Aug 5, 2026

day 1+3.57%day 6+2.58%

Next report: expected early FebruaryEstimated from the dates of its last four results filings. Not announced. Since the Nov 4 report: +3.96%. Four reports is a small sample.

Every report since 2023 →

Each line is COR’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

COR against four same-industry peers, a year at 100

COR is down 1.9% in a year. Herbalife is up 63.9%, Cardinal Health 28.6% and Mckesson 25.5%. Of these four, only Nu Skin Enterprises (−50.3%) did less. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

Share this chart

COR −1.9%. Herbalife +63.9%, Cardinal Health +28.6%, Mckesson +25.5%, Nu Skin Enterprises −50.3%. Weekly closes, Nov 7, 2025 = 100, log scale.

Share this chart

End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in COR’s SEC industry (Wholesale-Drugs, Proprietaries & Druggists' Sundries) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

MCK	Mckesson	$124.7B	+0.24%
CAH	Cardinal Health	$60.9B	+2.25%
HLF	Herbalife	$1.6B	−2.68%
NUS	Nu Skin Enterprises	$243M	−9.22%
MEDS	DataMeds AI	$187M	−18.12%
ZSTK	ZeroStack	$47M	−5.17%
COSM	Cosmos Health	$18M	−11.51%
ESYN	EnerSyn Global	$12M	+0.67%