CORNYSEWholesale-Drugs, Proprietaries & Druggists' SundriesFiscal year ends September 30
Cencora, Inc.
Financials through Q3 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$340.00−0.92 (-0.27%)
Close on Oct 19, 2026
- Market cap
- $65.94B
- P/E (TTM)
- 25.2
- Dividend yield
- 0.65%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
3.6%+0.8 pts over 5 years
Operating margin
0.8%+3.5 pts over 5 years
Net margin
0.5%+2.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.3% | +10.4% | +11.1% | +9.0% | |
| Gross profit | +15.8% | +11.4% | +17.2% | +12.5% | |
| Operating income | +20.8% | +3.6% | – | +20.1% | |
| Net income | +3.0% | -2.9% | – | – | |
| EPS, diluted | +5.7% | -0.3% | – | – | |
| Free cash flow | +7.0% | +13.3% | +11.8% | -1.4% | |
| Dividend per share | +7.8% | +6.1% | +5.8% | +6.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 104.0% | -366.5% | 144.3% | |
| Return on assets | 4.6% | -8.2% | 2.2% | |
| Current ratio | 0.90 | 0.98 | 0.90 | |
| Debt to equity | 1.97 | -4.04 | 5.08 | |
| Net debt to EBITDA | 0.76× | 0.10× | 0.90× | |
| Inventory turnover | 13.9× | 15.6× | 15.7× | |
| Capex to revenue | 0.3% | 0.2% | 0.2% | |
| Diluted shares | 226M | 205M | 195M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Cencora generated $16.64B from operations and spent $8.23B on capital expenditure, dividends and share buybacks. 31% of that went back into the business.
Generated
$16.64B
Used
$8.23B
Capital expenditure$2.55B31%Dividends$2.01B24%Share buybacks$3.67B45%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.5%
×Asset turnover4.47×
×Equity multiplier66.71×
=Return on equity, FY2025144.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.5% | 4.47× | 66.71× | 144.3% |
| FY2024 | 0.5% | 4.53× | 111.02× | 258.4% |
| FY2023 | 0.7% | 4.40× | 383.71× | 1124.4% |
| FY2022 | 0.7% | 4.19× | 9656.50× | 28805.8% |
| FY2021 | 0.7% | 4.21× | -127.72× | -387.1% |
| FY2020 | -1.8% | 4.55× | 44.86× | -366.5% |
| FY2019 | 0.5% | 4.67× | 13.22× | 29.4% |
| FY2018 | 1.0% | 4.60× | 14.61× | 66.4% |
| FY2017 | 0.2% | 4.44× | 16.44× | 17.4% |
| FY2016 | 1.0% | 4.77× | 22.43× | 104.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.55B
- Cash generatingOperating cash flow above zero$3.88B
- Return on assets improvedROA up on the prior year2.4% → 2.3%
- Earnings backed by cashOperating cash flow above net income$3.88B vs $1.55B
- Less leverageLong-term debt to assets fell5.7% → 9.8%
- Better liquidityCurrent ratio rose0.88 → 0.90
- No dilutionShare count did not rise200M → 195M
- Gross margin improvedGross margin up on the prior year3.37% → 3.57%
- More efficientAsset turnover rose4.70 → 4.79