Cencora, Inc.COR
Cencora, Inc. Financial Overview 2021–2025
Updated Jul 10, 2026Driven by a massive 26.9% spike in sales of GLP-1 weight loss and diabetes medications, Cencora generated $7.7 billion from this drug class alone in FY2025. This explosive demand underscores the core investment thesis: despite carrying billions in ongoing opioid settlement liabilities, Cencora is effectively monetizing the biggest trends in modern pharmacy while executing an aggressive global acquisition strategy. This dual engine of organic volume and strategic buyouts helped overall revenue grow from $213.99 billion in FY2021 to a record $321.3 billion in FY2025.
Beneath the top-line expansion, gross profit rose 15.8% to $11.5 billion in FY2025, aided by higher specialty sales and antitrust litigation settlements. Cencora also deployed serious capital to deepen its specialty pipeline, completing the $5.7 billion acquisition of Retina Consultants of America. While this move required new debt that drove an 85.7% increase in net interest expense, equity investors remained bullish on the distributor's underlying cash flow generation. At the close of FY2025, the market valued the company at a $60.6 billion market cap, with shares trading at $312.53 and a 39.3x price-to-earnings multiple.
Recent Developments (Q1 and Q2 2026)
Cencora executed a significant strategic pivot in early 2026, acquiring OneOncology for $7.4 billion while divesting its MWI Animal Health unit in a transaction valuing the business at a $3.5 billion enterprise value. Top-line momentum continued for the six months ended March 31, 2026, with revenue growing 4.7% to $164.3 billion and gross profit jumping 18.6% to $6.7 billion. The company also announced a major leadership transition, appointing Eva C. Boratto to succeed retiring CFO James F. Cleary. Bulls argue this sharpened focus on human oncology and specialty products will accelerate long-term profitability. Conversely, bears warn that funding the OneOncology buyout drove a 61.4% surge in six-month net interest expense, adding pressure to the balance sheet. Trading at 31.8x earnings as of May 6, 2026, the stock reflects a more moderate valuation following recent portfolio realignments.
What to watch: margin impacts from integrating the OneOncology acquisition; execution of the CFO transition during the second half of 2026.
Rev
$321.33B
FY2025
NI
$1.55B
FY2025
EPS
$8.02
FY2025
OCF
$3.88B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
All COR Financial Metrics(60)
Income Statement
Balance Sheet
- Cash & ST Investments
- Total Assets
- Current Assets
- Cash
- Receivables
- Inventory
- Prepaid & Other
- PP&E
- Goodwill
- Intangibles
- Other Non-current
- Total Liabilities
- Current Liabilities
- Accounts Payable
- Accrued Liabilities
- Short-Term Debt
- Long-Term Debt
- Other Non-current Liab.
- Equity
- Retained Earnings
- Accumulated OCI
- APIC
- Treasury Stock
- NCI
- Total L&E
- Shares Outstanding
Cash Flow
Recent SEC Filings
Cencora, Inc. 8-K Report, Executive Changes (Aug 14, 2026)
Cencora, Inc. (COR) announced on August 14, 2026, that Dr. Lorence H. Kim has resigned from the Board of Directors, effective immediately. This departure is attributed to Dr. Kim's appointment as Chief Financial Officer at Commonwealth Fusion Systems, Inc., requiring his full attention and time commitment to his new role. The company has clarified that Dr. Kim's resignation is not a result of any disagreements concerning Cencora's operations, policies, or practices, and the Board has expressed gratitude for his service. This change in board composition is the primary disclosure in this 8-K filing. While the resignation is noted, the company has provided assurances that it is not indicative of internal discord. Investors should note this change as a routine board adjustment often seen when executives take on significant new responsibilities elsewhere. The filing does not contain any information related to financial performance, new business initiatives, or material agreements.
Cencora, Inc. 8-K Report, Regulation FD Disclosure (Aug 12, 2026)
Cencora, Inc. (COR) has filed an 8-K to disclose the transition of certain Walgreens volume servicing outside of its prime vendor agreement. This transition, which began on July 1, 2026, was fully anticipated by the company and was factored into its previously communicated expectations for the U.S. Healthcare Solutions segment for the fourth quarter. Importantly, the prime vendor agreement itself, which represents the substantial majority of Cencora's business with Walgreens, remains unchanged. In light of this disclosed information and its prior commentary, Cencora is reaffirming its adjusted diluted Earnings Per Share (EPS) guidance range of $17.75 to $17.95 for the fiscal year 2026. This reaffirms management's confidence in the company's ability to absorb the impact of the transitioning volume and meet its full-year financial targets.
Cencora, Inc. 8-K Report, Material Agreement (Aug 5, 2026)
Cencora, Inc. (COR) has filed an 8-K report detailing significant amendments to its financing arrangements. The company has entered into an Amended and Restated Credit Agreement to enhance its Multi-Currency Revolving Credit Facility, increasing the aggregate commitments from $5.5 billion to $7.0 billion and extending the maturity date to July 2031. This move signifies Cencora's strengthened credit profile and provides greater financial flexibility for its ongoing business needs and potential future growth. Additionally, Cencora has amended its Receivables Securitization Facility. While the primary facility size has been reduced from $1.5 billion to $1.0 billion, an accordion feature has been increased to $1.0 billion, offering the company the option to expand funding capacity if needed. These adjustments reflect prudent financial management and strategic positioning to support operational liquidity and long-term objectives.
Cencora, Inc. 8-K Report, Financial Results (Aug 5, 2026)
Cencora, Inc. (COR) has filed an 8-K report on August 5, 2026, to disclose its financial results for the fiscal quarter ended June 30, 2026. The report primarily references a news release detailing these results, which is included as an exhibit. The company also announced a conference call and webcast to discuss these financial results and related matters, scheduled for the same day. Investors should refer to the accompanying news release for specific financial performance figures and operational updates. While the 8-K itself does not contain detailed financial tables, it serves as the official notification mechanism for these key corporate disclosures. The information furnished in this report is not considered 'filed' for certain regulatory purposes, but it is crucial for understanding Cencora's recent performance and forward-looking discussions that will likely occur during the investor call. Investors are encouraged to review the provided news release and attend or access the webcast for a comprehensive understanding of the company's financial condition and operational outlook.
Cencora, Inc. 8-K Report, Executive Changes (Jun 15, 2026)
Cencora, Inc. (COR) has filed an 8-K report announcing a significant leadership change within its Human Resources department. Silvana Battaglia, Executive Vice President and Chief Human Resources Officer, will retire effective July 12, 2026, after a period of advisory service through the end of 2026. Importantly, her retirement is not attributed to any disagreements concerning the Company's operations or policies, suggesting a smooth transition. The company has appointed Samantha L. Hammock to succeed Ms. Battaglia as the new Executive Vice President and Chief Human Resources Officer, effective July 13, 2026. Ms. Hammock brings extensive experience to Cencora, having most recently held the same role at Verizon Communications Inc. This appointment signals a continued focus on strategic human capital management by the company.
View all 8-K filings →