Cencora Inc. (COR) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Cencora Inc. stock $342, price $340, upside +0.6%, quality 53 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $108.94 – $372.53 · fair‑value band $239.11 – $444.06 · the $339.68 price screens below the $341.58 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.
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The company's U.S. Healthcare Solutions segment distributes generic and injectable pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; distributes plasma and other blood products, vaccines, and other specialty pharmaceutical products; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and other services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; sales force services to manufacturers; and offers other services to physicians who specialize in various disease states, such as oncology, as well as to other healthcare providers, including hospitals and dialysis clinics.
Its International Healthcare Solutions segment provides international pharmaceutical wholesale and related service, and global commercialization services; distributes pharmaceuticals, other healthcare products, and related services to pharmacies, doctors, health centers, and hospitals; and offers specialty transportation and logistics services for the biopharmaceutical industry.
The company was formerly known as AmerisourceBergen Corporation and changed its name to Cencora, Inc. in August 2023. Cencora, Inc. was founded in 1871 and is headquartered in Conshohocken, Pennsylvania.
Stock analysis
Cencora Inc. (COR) currently trades at $339.68, while our model-based Fair Value estimate is $341.58, so the stock looks roughly fairly valued today (gap 0.6%).
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Valuation
Bull case: the DCF Models group reads highest at a median of $452.62 per share, and 13 of the 24 models we run sit above the $339.68 price.
Bear case: the Dividend Discount group reads lowest at $44.57, and 11 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: $239.11 (bear) to $444.06 (bull), the price of $339.68 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Cencora Inc. reported revenue of $337B in FY2026 versus $239B in FY2022, a compound +9.0%/yr. Reported net income was $3.5B in FY2026, compounding +19.7%/yr from FY2022.
Key figures
Market cap $65.9B Large · P/E ratio 24.3 · P/S ratio 0.20 · EPS (TTM) $14.00 · Dividend yield 0.7% · Net margin 0.8% · Return on equity 96.9% · Return on assets (EBIT) 4.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 35% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 32% fair-value upside, at 1%, COR screens richer than that median.
Fair Value models
Bear$239.11Fair Value $341.58Bull$444.06
Price $339.68 · Upside +0.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 1 months old). Earnings retained since then ($1.18 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 2 officers or directors bought shares worth $2.3M, most recently on Jun 22, 2026. Over the same period, 3 people sold shares worth $5.0M. Buying cluster
SaleLazarus KrikorianSVP & Chief Accounting Officer4× since Dec 17, 2025: 6,988 shares, avg. $333.42$2.3MNov 2, 2026
SaleLon R GreenbergDirector1,280 shares at $321.30$411,264Sep 16, 2026
SaleElizabeth S CampbellExecutive Vice President2× since Dec 19, 2025: 14,651 shares, avg. $328.23$4.8MAug 24, 2026
BuyLauren M TylerDirector550 shares at $270.23$148,627Jun 22, 2026
BuyDermot Mark DurcanDirector2× since May 28, 2026: 8,000 shares, avg. $270.23$2.2MJun 18, 2026
SaleRobert P. MauchPresident & CEO, Director5× since Nov 18, 2025: 20,383 shares, avg. $355.97$7.3MFeb 20, 202610b5-1 plan
SaleSilvana BattagliaExecutive Vice President1,677 shares at $345.00$578,565Dec 19, 2025
Plus 10 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
Start year 2021 (pandemic). Over 10 years: +8.7% a year
Revenue growth 32 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +10.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.6%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.18.4% vs 15.9%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.1% → 1%
Pace: the 5-year rate starts in 2021 (pandemic)
⚠ Rate on operating basis: 2026 sits 126% above its own trend.
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +1.0% a year for the price and +1.3% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Large-scale distribution delivers an operational edge, yet the commoditized model produces thin margins and weak pricing power.
Main risk: Pharmaceutical manufacturers such as Eli Lilly and AstraZeneca are expanding direct-to-patient platforms that could bypass traditional wholesalers like Cencora and reduce demand for its distribution services.
Bull case: Cencora could leverage its specialty acquisitions and AI-driven supply chain tools to deepen integration with manufacturers and providers, capturing more value in higher-margin services even if some wholesale volumes shift.
Bear case: If direct-to-patient models and vertical integration by payers expand rapidly while key customer contracts are lost amid continued regulatory pressure, Cencora's core distribution volumes and thin margins could erode significantly over time.
Cencora is expanding its reach into management services organizations for community oncology and retina practices through targeted acquisitions like OneOncology. This moves the business deeper into specialty care delivery while the core remains a high-volume pharmaceutical distribution operation exposed to reimbursement shifts. Our models see it as overvalued. Will the added services generate enough margin lift to outweigh the thin margins and volume risks in distribution?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Distribution · 76 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside+0.6% · Below median
Profitability
Return on equity (12 months)96.9% · Top 25%
Return on assets4.0% · Above median
Net margin (12 months)0.8% · Below median
Operating margin (12 months)1.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)5.1% · Below median
Dividend yield (12 months)0.7% · Bottom 25%
Balance sheet
Debt / equity2.05× · Highest 25%
Valuation Multiplesvs Medical Distribution median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Cencora Inc. Fair Value". https://www.fairvalue-calculator.com/stock/COR
Frequently asked questions
Is Cencora Inc. (COR) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $341.58 versus a price of $339.68, about +1% upside (fairly valued).
What is the fair value of COR?
Our model-based fair value for Cencora Inc. is $341.58 (as of Nov 5, 2026), built from audited fundamentals. The current price: $339.68.
What is the quality score of COR?
Cencora Inc. has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cencora Inc. (COR)?
Our model-based price target is the fair value of $341.58 (as of Nov 5, 2026) from 24 valuation models. Cautious scenario $239.11, optimistic scenario $444.06. It is a calculation from audited fundamentals, not an analyst target.
What is the Cencora Inc. stock forecast for 2026?
Our models put fair value at $341.58, about +1% upside versus a price of $339.68 (fairly valued). Cautious scenario $239.11, optimistic scenario $444.06. The calculation is refreshed regularly with new filings.
What is the revenue of Cencora Inc. (COR)?
Cencora Inc. reported trailing-twelve-month revenue of about $333B (latest available figure, as of Nov 5, 2026).
Does Cencora Inc. pay a dividend?
Cencora Inc. currently shows a dividend yield of 0.69% relative to its recent price (as of Nov 5, 2026).
What growth is priced into Cencora Inc. (COR)?
For today's price to be fair in a discounted-cash-flow model, Cencora Inc. would have to grow free cash flow by +3.4 % per year for five years (discount rate 8.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.5 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of COR use?
Our models discount Cencora Inc. at 8.2 %: a base by market capitalisation (large), damped by beta 0.57, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cencora Inc. that is +3.4 % per year a year over ten years, using the same discount rate (8.2 %) and the same formula as our fair value.
How much growth has Cencora Inc. (COR) delivered so far?
Over the past 5 years revenue at Cencora Inc. grew +9.5 % a year. The price currently implies +3.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cencora Inc. (COR) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Cencora Inc. (+3.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cencora Inc. (COR)?
The free-cash-flow yield on the price is 5.89 %: that much free cash flow Cencora Inc. produces per unit of market value. When it exceeds the discount rate of our models (8.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cencora Inc. (COR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cencora Inc. it is $341.58 per share (as of Nov 5, 2026), against a price of $339.68. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Cencora Inc. stock overvalued or undervalued in 2026?
As of Nov 5, 2026, COR trades below its calculated fair value: price $339.68, fair value $341.58, a gap of about +1% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of COR?
No. The price is what the market pays today ($339.68); the fair value is what the company's own numbers justify ($341.58). For Cencora Inc. the two are $1.90 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cencora Inc. worth?
The market values Cencora Inc. at about $65.9B (market capitalisation, as of Nov 5, 2026). Per share that is $339.68; our models calculate a fair value of $341.58 per share.
What do the bullish and bearish scenarios say about COR?
Our models span a range for Cencora Inc.: cautious scenario $239.11, base $341.58, optimistic $444.06 per share (as of Nov 5, 2026, price $339.68). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of COR?
Cencora Inc. trades at a price-to-earnings ratio of 24.3 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $341.58 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2026), reported earnings: 20.4. Other multiples: PEG 0.7, P/B 17.9, P/S 0.2, EV/EBITDA 12.4.
What is the PEG ratio of COR?
The PEG ratio of Cencora Inc. is 0.71 (P/E divided by earnings growth, as of Nov 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Cencora Inc. (COR)?
Balance-sheet figures for Cencora Inc. (as of Nov 5, 2026): return on equity 96.9%, debt of 2.05 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is COR from its 52-week high?
Cencora Inc. trades at $339.68, about 9% below its 52-week high of $372.53 and 35% above the low of $251.67 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $341.58 is for.
Which stocks are comparable to Cencora Inc.?
From the same area (Healthcare) we also value McKesson Corporation, Cardinal Health, Inc, Shanghai Pharmaceuticals Holding, Henry Schein, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cencora Inc. stock attractive at the current price?
The data as of Nov 5, 2026: price $339.68, calculated fair value $341.58 (+1%), Quality Score 53/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of COR calculated?
We run Cencora Inc. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $341.58, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Cencora Inc. currently trades 1% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cencora Inc. (COR)?
The closing price on Nov 5, 2026 was $339.68. Our model-based fair value is $341.58, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cencora Inc. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($239.11 to $444.06) leaves room in how you read the outcome.
Where does the earnings growth of Cencora Inc. (COR) come from?
Earnings per share at Cencora Inc. grew +12.4 % a year from 2016 to 2026. Broken into its drivers: revenue per share +10.9 %, EBIT margin −1.2 %, tax rate −0.6 %, residual (interest, one-offs) +3.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Cencora Inc.
How large is the market capitalisation of Cencora Inc. (COR)?
The market capitalisation of Cencora Inc. is $65.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cencora Inc. (COR)?
The price-to-sales ratio of Cencora Inc. is 0.20 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cencora Inc. (COR)?
Earnings per share at Cencora Inc. are $14.00 (price ÷ EPS = P/E 24.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cencora Inc. (COR)?
The dividend yield of Cencora Inc. is 0.7% (payout 16.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Cencora Inc. (COR)?
The net margin of Cencora Inc. is 0.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cencora Inc. (COR)?
The return on equity (ROE) of Cencora Inc. is 96.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cencora Inc. (COR)?
On an EBIT basis the return on assets of Cencora Inc. is 4.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cencora Inc. (COR)?
The operating margin of Cencora Inc. is 1.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cencora Inc. (COR)?
Revenue at Cencora Inc. is growing +5.1% versus a year earlier (3y avg +8.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cencora Inc. (COR)?
Earnings per share at Cencora Inc. are growing +11.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cencora Inc. (COR) carry?
The net debt of Cencora Inc. is $6.4B (fiscal year 2026, ≈ 1.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026