---
title: Cencora (COR) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/cor
ticker: COR
as_of: 2026-10-17
sector: Healthcare
industry: Medical - Distribution
---
# Cencora (COR)

Cencora (COR) closed at $340.92 on Oct 16, 2026, overvalued by 11% vs its model value of $307.72 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $340.92 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $307.72 |
| Price vs model | overvalued by 11% vs model |
| Range of that model | $189.51 – $869.56 |
| Market value | $65.1B |
| P/E (fiscal 2025) | 42.8 |
| Net margin (fiscal 2025) | 0.5% |
| Free cash flow (fiscal 2025) | $3.2B |
| Dividend yield (trailing twelve months) | 0.70% |
| Beta | 0.58 |
| Cost of capital (WACC) | 7.59% |
| Business classification | Mature & Stable (Moderate growth (~11% recent), Thin margins (0.5% net margin), Highly cyclical earnings, High leverage (D/E 5.1x)) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 0.70% |
| Dividends per share, last 12 months | $2.40 |
| Dividends / free cash flow (fiscal 2025) | 13.6% |
| Raised | 20 years in a row |
| Growth over 5 years | -1.7% a year |
| Latest payment | $0.60, ex-date Aug 14, 2026, paid Aug 31, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Nov 12, 2021 | $2.61 |
| To Aug 12, 2022 | $2.65 |
| To Aug 10, 2023 | $1.94 |
| To Aug 9, 2024 | $2.04 |
| To Aug 15, 2025 | $2.20 |
| Trailing twelve months (to Aug 14, 2026) | $2.40 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $307.72 | $189.51 | $869.56 |
| DCF · Perpetuity growth · 10y | cross check | $321.24 | $204.50 | $866.54 |
| DCF · EBITDA exit · 5y | cross check | $251.91 | $169.88 | $348.82 |
| DCF · EBITDA exit · 10y | cross check | $274.58 | $189.52 | $388.59 |
| P/E · peers | cross check | $284.76 | $175.39 | $305.90 |
| P/E · own history | cross check | $347.82 | $267.35 | $491.51 |
| PEG | sanity check | $447.13 | $447.13 | $447.13 |
| EV/EBITDA · peers | cross check | $265.98 | $161.62 | $332.47 |
| EV/Revenue · peers | cross check | $402.00 | $271.38 | $1,084.21 |
| Earnings power value | cross check | $47.73 | $37.06 | $63.66 |
| Dividend discount | cross check | $57.12 | $37.40 | $103.83 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 4 open-market sales ($4.7M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 1, 2026 | SANCHEZ ROBERT E | Director | Grant / award | 275 | — |
| Oct 1, 2026 | Krikorian Lazarus | SVP & Chief Accounting Officer | Open-market sell (10b5-1 plan) | 986 | $298,935.5 |
| Sep 16, 2026 | GREENBERG LON R | Director | Open-market sell | 1,280 | $411,264 |
| Sep 1, 2026 | Krikorian Lazarus | SVP & Chief Accounting Officer | Open-market sell (10b5-1 plan) | 985 | $321,080.5 |
| Aug 24, 2026 | Campbell Elizabeth S | Executive Vice President | Open-market sell | 11,300.471 | $3.7M |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 25, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1140859/000110465926110624/tm2626030d1_8k.htm |
| Aug 14, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/1140859/000110465926097096/tm2623151d1_8k.htm |
| Aug 12, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/1140859/000110465926094676/tm2622984d1_8k.htm |
| Aug 5, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1140859/000114085926000034/cor-20260630.htm |
| Aug 5, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1140859/000114085926000032/abc-20260805.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Bridgewater | 2026-06-30 | 34,045 | $9.6M |

1 tracked managers in all.

## About

Cencora, Inc. functions as a global leader in the sourcing and distribution of pharmaceutical products, with operations spanning both the United States and international markets. Within its U.S. Healthcare Solutions segment, the company supplies a broad spectrum of pharmaceutical items, including generic and injectable medications, over-the-counter health products, and home healthcare equipment. Its extensive client network includes acute care hospitals, health systems, a variety of retail and mail-order pharmacies (independent, chain, long-term care), medical clinics, and other healthcare providers. This division also manages the distribution of crucial specialized pharmaceutical products like plasma, blood derivatives, and vaccines. Beyond product supply, Cencora offers comprehensive support services, such as pharmacy management, staffing solutions, and strategic consulting. It develop…

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Source: https://sweetvaluelab.com/stocks/cor (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.