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Cencora COR

Cencora scores average on business quality (5.2 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$323.85Oct 10, 2026
Business qualityAverage
Next earningsNov 4, 2026, after the close
Insiders, 90 daysSelling

Why it matters

  1. What Cencora does

    Cencora distributes pharmaceuticals and medical products globally, connecting drug manufacturers with healthcare providers like hospitals and pharmacies. The company generates revenue by taking a cut of massive drug distribution volume.

  2. What it does best

    Cencora excels at massive-scale pharmaceutical distribution, generating $332.8 billion in revenue. This massive scale creates a nearly impossible barrier for new entrants, though it operates on a razor-thin gross margin of 4.0% compared to HSIC's 31.3%.

  3. The main risk

    High leverage poses the primary structural threat, with a debt-to-equity ratio of 5.1. Total debt sits at $7.7 billion against $4.4 billion in cash, leaving the balance sheet exposed to any disruption in operating cash flow.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityWeak

Gross margin sits at 4.0% with an operating margin of 1.4% and an FCF margin of 1.2%. Profitability remains compressed due to the low-margin wholesale model, meaning scale drives total cash volume rather than high per-unit earnings.

MoatStrong

Cencora relies on distribution network scale to lock in healthcare providers and drug manufacturers. Its return on equity hits the top decile of its sector at 106.4%, reflecting extreme capital efficiency despite low margins.

GrowthSteady

Revenue grew at 9.3% to $332.8B, continuing a steady multi-year expansion from $189.9B in 2020. This top-line growth is accelerating compared to historical periods.

Financial healthFair

Debt-to-equity stands at 5.1 with interest coverage at 8.9x, meaning earnings easily cover interest payments. Free cash flow reached $4.0B, improving from prior years and making the financial profile moderately stable.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

2 sold $4.1M outside pre-planned sales.

Our sealed record on COR

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is COR a good business?

Cencora scores average on the Cluenex quality check (5.2 of 10), measured against its own industry. Profitability is weak, moat strong, growth steady and financial health fair.

Are insiders buying COR?

In the last 90 days of SEC Form 4 filings: 2 sold $4.1M outside pre-planned sales.

When does COR report earnings?

Nov 4, 2026, after the close.

For members

See COR today

  • Today's verdict on COR, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Cencora (COR)”, https://cluenex.com/stocks/cor/, data as of Oct 10, 2026.