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Cencora key statistics and ratios

In fiscal 2025, Cencora had return on equity of 144.3% and a net margin of 0.5%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Sept 20092010Sept 20102011Sept 20112012Sept 20122013Sept 20132014Sept 20142015Sept 20152016Sept 20162017Sept 20172018Sept 20182019Sept 20192020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Net margin0.7%0.8%0.9%0.9%0.5%0.2%−0.1%1.0%0.2%1.0%0.5%−1.8%0.7%0.7%0.7%0.5%0.5%0.8%
Return on equity18.5%22.5%24.3%27.0%18.2%12.9%−10.8%104.0%17.4%66.4%29.4%—————144.3%115.1%
Return on assets3.7%4.5%4.8%4.7%2.5%1.4%−0.6%4.6%1.1%4.5%2.2%−8.2%3.0%3.0%2.9%2.3%2.2%3.3%
Effective tax rate37.9%38.0%37.6%37.4%40.2%57.9%—−2.7%60.3%−37.2%11.7%—30.5%23.7%19.8%24.2%30.6%26.8%
SG&A as % of revenue1.6%1.5%1.4%1.5%1.5%1.3%1.4%1.4%1.4%1.5%1.5%1.5%1.7%2.0%2.0%1.9%2.0%2.3%
Dividends ÷ net income12.5%14.2%16.6%18.5%45.1%78.2%—20.2%87.9%20.1%39.6%—23.8%23.1%22.8%27.6%28.1%17.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $83.8bn
Short-term assets $55.3bnLonger-term assets $28.5bn
What it owes, and who funded it · $62.2bn
Short-term liabilities $59.2bnShareholders' equity $3.1bn
  • Short-term assets cover short-term liabilities $55.3bn of assets due within a year against $59.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $2.8bn of cash against $11.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 384% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 2655% to 384% over five years.
  • A year's operating cash flow covers at least 20% of debt $4.8bn of operating cash flow against $11.7bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Cencora's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

40 /100

Weak moat

How hard Cencora's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 9 / 20

    Cash operating profit has been a median 7.5% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 3.2%, moving by 0.4 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 0.9%; its worst year was -2.1%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 10 of 10 years, at a median 1.1% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 5.1% over five years; stock-based pay has been a median 0.0% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (45 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: COR vs MCKCOR vs HSICCOR vs YI

More: Health Care Distributors stocks compared, Health Care sector, rankings of US companies

Figures from Cencora's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Cencora.