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Screener / SEC EDGAR /CIK 0001140859 /10-K filed Nov 25, 2025, compared with Nov 26, 2024 /Numbers from the XBRL of the 10-Ks
Health care peers:
CICAHCORCVSMCKUNH
NYSE Health care · Drug Wholesale

Cencora COR

COR quote by TradingView

Cencora is one of the largest global pharmaceutical sourcing and distribution services companies, helping both healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. 10-K, Item 1

Employees
51,000
Headquarters
Conshohocken, PA
CEO
Robert P. Mauch
Next results
around Feb 3, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $321.3B through the costs to a net profit of $1.6B · income statement of the 10-K

1% operating margin
Revenue to Gross profit: $11.5BRevenue to Cost of revenue: $309.9BGross profit to Operating profit: $2.6BGross profit to Operating expenses: $8.8BOperating profit to Net profit: $1.6BOperating profit to Tax & other: $1.1B Revenue: $321.3B REVENUE $321.3B +9% Y/Y Gross profit: $11.5B · 4% margin GROSS PROFIT $11.5B 4% margin · +16% Y/Y Cost of revenue: $309.9B · 96% of revenue COST OF REVENUE $309.9B 96% of revenue Operating profit: $2.6B · 1% margin OPERATING PROFIT $2.6B 1% margin · +21% Y/Y Operating expenses: $8.8B · 3% of revenue OPERATING EXPENSES $8.8B 3% of revenue Net profit: $1.6B · 0% margin NET PROFIT $1.6B 0% margin · +3% Y/Y Tax & other: $1.1B · 0% of revenue TAX & OTHER $1.1B 0% of revenue
Gross profit $11.5B 4% margin · +16% Y/Y
Operating profit $2.6B 1% margin · +21% Y/Y
Net profit $1.6B 0% margin · +3% Y/Y
The full income statement, year by year

COR among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 9.3%, above 64% of 59 peers (their median 7.1%) REVENUE GROWTH 9.3% · above 64% Gross margin: 4.0%, above 4% of 50 peers (their median 65.2%) GROSS MARGIN 4.0% · above 4% Operating margin: 0.9%, above 10% of 50 peers (their median 13.7%) OPERATING MARGIN 0.9% · above 10% Net margin: 0.8%, above 10% of 59 peers (their median 9.7%) NET MARGIN 0.8% · above 10% FCF margin: 1.2%, above 4% of 55 peers (their median 15.8%) FCF MARGIN 1.2% · above 4% Return on capital: 12.1%, above 73% of 41 peers (their median 9.0%) RETURN ON CAPITAL 12.1% · above 73%
COR Peer median Below the median

What changed

14 new risk paragraphs. 10-K filed Nov 25, 2025 against Nov 26, 2024.

Risk factors
14 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
11 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
3 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables +5.7% vs revenue +9.3% (-3.6 pts)
  • Cash from operations $3.9B vs net income $1.6B (FY ending Sep 30, 2025)
  • Inventory +7.9% vs revenue +9.3% (-1.5 pts)
8 more checks with nothing to note
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Legal Matters and Contingencies - Opioid Lawsuits and Investigations; Goodwill Impairment Evaluation of the PharmaLex Reporting Unit
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

14 paragraphs in Risk Factors that were not in the 10-K filed Nov 26, 2024. Quoted as filed.

All 14 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Nov 26, 2024 10-K, ITEM 1A
    On August 28, 2025, Sycamore Partners, a private equity firm, acquired Walgreens Boots Alliance, Inc. (“WBA”). We have a distribution agreement in the U.S. pursuant to which we distribute pharmaceuticals to Walgreens pharmacies as well as a generics purchasing services arrangement under which Walgreens Boots Alliance Development GmbH…
  2. Item 1A · new paragraph · not in the 10-K filed Nov 26, 2024 10-K, ITEM 1A
    Furthermore, geopolitical dynamics caused by changes or uncertainty in U.S. policies or the political, economic, social or other conditions or policies in foreign countries and regions in which we do business may impact or disrupt our business, as well as the operations of our customers, suppliers, service providers, or other…
  3. Item 1A · new paragraph · not in the 10-K filed Nov 26, 2024 10-K, ITEM 1A
    On May 12, 2025, the Executive Branch issued Executive Order 14297, “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients” (“Executive Order 14297”). Executive Order 14297 seeks to reduce prescription drug costs in the U.S. by requiring manufacturers to sell certain drugs in the U.S. at no higher than the lowest…
  4. Item 1A · new paragraph · not in the 10-K filed Nov 26, 2024 10-K, ITEM 1A
    Several EU member states have adopted or are considering adopting laws and regulations aimed at mitigating or controlling drug supply shortages, and the EU’s proposal of the Critical Medicines Act in March 2025 as well as the ongoing comprehensive reform of EU pharmaceutical legislation (referred to as the “EU pharmaceutical package”)…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$238.6B$262.2B$294.0B$321.3B
Net income$1.7B$1.7B$1.5B$1.6B
Operating cash flow$2.7B$3.9B$3.5B$3.9B
Free cash flow$2.2B$3.5B$3.0B$3.2B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$321.3B ▲ 9.3% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

3 filings in the last 30 days · SEC EDGAR

All filings

About the company

Cencora, Conshohocken, PA · from the 10-K filed Nov 25, 2025

Cencora is one of the largest global pharmaceutical sourcing and distribution services companies, helping both healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. We deliver innovative programs and services designed to increase the effectiveness and efficiency of the pharmaceutical supply chain in both human and animal health.

Headquarters
Conshohocken, PA
Country
United States
Listed on
NYSE
Fiscal year ends
September 30
Last results
Nov 4, 2026
Incorporated in
DE

Employees, at the top of the page: "As of September 30, 2025, we had more than 51,000 employees globally, of which approximately 47,000 were full-time employees and approximately 41% were U" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Nov 25, 2025 (open at SEC), compared with the 10-K filed Nov 26, 2024. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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