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Cencora, Inc.COR

Sector
Healthcare
Industry
Wholesale-Drugs, Proprietaries & Druggists' Sundries
Exchange
NYSE

Stock Price $COR

Latest filings

You are here#24 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1010-Q338-K184

COR filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 184 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jan ’18Jan ’18
  2. Impairment8-K · Jan ’20Jan ’20
  3. Leadership change8-K · Aug ’21Aug ’21
  4. FY2025 annual report10-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $321.33B
YoY changeLargest recent move+12.7%in FY21Latest +9.3%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All COR Financial Metrics60 metrics

Income Statement14

Balance Sheet26

Cash Flow15

Per Share5

02—Overview

Cencora, Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

Driven by a massive 26.9% spike in sales of GLP-1 weight loss and diabetes medications, Cencora generated $7.7 billiona 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 billionb 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 billionc 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.

03—Filings

Recent SEC Filings

  1. 8-KCencora, Inc. 8-K Report, Financial Results (Oct 21, 2026)Cencora, Inc. (COR) announced a significant strategic move via an 8-K filing on October 21, 2026, revealing its definitive agreement to acquire American Oncology Network, Inc. (AON) for an enterprise value of $2.4 billion. This acquisition is poised to bolster Cencora's position in supporting community oncology by integrating AON's physician-led network, which spans over 350 providers across 21 states, into Cencora's existing MSO platform. The company also updated its fiscal year 2026 financial expectations, projecting adjusted diluted earnings per share (EPS) to be at least $17.90, aligning with the higher end of its previous guidance. This updated outlook reflects the strong performance in Cencora's U.S. Healthcare Solutions segment. The acquisition of AON is anticipated to be accretive to Cencora's adjusted diluted EPS in the second year post-closing, signaling a long-term value creation strategy.
  2. 8-KCencora, Inc. 8-K Report, Executive Changes (Sep 25, 2026)Cencora, Inc. (NYSE: COR) filed an 8-K on September 25, 2026 announcing that its Board of Directors appointed Robert E. Sanchez as a new independent director, effective October 1, 2026. The Board expands from ten to eleven members as a result. This is a governance update rather than a financial disclosure: the filing contains no earnings, guidance, or transaction information, and the filing does not indicate any financial impact on the company. Mr. Sanchez brings substantial public-company leadership experience. He is Executive Chair of Ryder System, Inc., having retired as Chair and CEO in March 2026, and previously served as Ryder's CEO from 2013 and as its CFO earlier in his career. He also sits on the board of Texas Instruments. Cencora's leadership framed the appointment around operations, finance, technology, and logistics and supply-chain expertise, which the company says will support its pharmaceutical-centric strategy and growth ambitions. Compensation for Mr. Sanchez follows the existing non-employee director policy described in the company's January 22, 2026 proxy statement. Cash retainers are paid quarterly, and his annual equity award will be prorated through the 2027 Annual Meeting. He has not yet been assigned to any Board committees. The filing states there are no related-party transactions or family relationships requiring disclosure.
  3. 8-KCencora, 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.
  4. 8-KCencora, 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.
  5. 8-KCencora, Inc. 8-K Report, Financial Results (Aug 5, 2026)Cencora (COR) reported fiscal Q3 2026 (quarter ended June 30, 2026) with revenue of $84.8 billion, up 5.1% year-over-year, and GAAP diluted EPS of $3.94 versus $3.52 a year earlier (up 11.9%). Adjusted diluted EPS rose 12.0% to $4.48. Growth was driven by the February 2026 OneOncology acquisition and strong U.S. Healthcare Solutions unit volume, including specialty and GLP-1 products, partly offset by lower brand manufacturer pricing and the 2025 loss of an oncology customer. Adjusted operating income grew 17.0% to $1.24 billion, and the adjusted operating margin expanded 15 basis points to 1.46%. A $102.0 million reduction in opioid liability, tied to the dismissal of opioid litigation, flattered GAAP operating expenses in the quarter. Management raised fiscal 2026 adjusted diluted EPS guidance to $17.75-$17.95 from $17.70-$17.90, citing strong performance and the completion of $1 billion in opportunistic share repurchases, which had been planned for calendar 2026. Net interest expense rose 72% to $141 million as the company financed OneOncology with $3.0 billion of senior notes and $1.5 billion of term loans. Total debt, including short- and long-term debt, rose to roughly $11.7 billion from about $7.7 billion at fiscal year-end 2025, and stockholders' equity increased to $3.24 billion. The board also declared a $0.60 quarterly dividend payable August 31, 2026. The update is generally constructive: earnings beat expectations on an adjusted basis, the guidance raise is modest, and the acquisition is contributing to growth. Investors should watch the higher leverage and interest burden, the margin pressure from lower-margin GLP-1 sales, and the mix of one-time items in GAAP results, which include a $1.1 billion nine-month remeasurement gain on OneOncology.
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04—See also

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