Cencora, Inc.

Listed Company

CORCIK 0001140859NYSELarge AcceleratedWholesale-Drugs, Proprietaries & Druggists' SundriesDelawareFY ends Sep 30

Period

FY 2025

Revenue

$321.33B

Net Income

$1.55B

Total Assets

$76.59B

Equity

$1.51B

Shares Out

194.53M

Op. Cash Flow

$3.88B

Business

Cencora, Inc. is a global pharmaceutical sourcing and distribution services company that helps healthcare providers and pharmaceutical and biotech manufacturers improve patient access and enhance care. It distributes brand-name, specialty and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and also provides data analytics, outcomes research, reimbursement and consulting services, logistics, inventory management, pharmacy automation, packaging and patient-access solutions. The company operates through U.S. Healthcare Solutions and International Healthcare Solutions reportable segments (plus Other businesses) offering distribution and value‑added services. It serves acute care hospitals, health systems, retail and mail‑order pharmacies, clinics, physician practices, veterinarians and select global markets, primarily in the U.S. and Europe, via a network of distribution centers, specialty logistics and direct sales channels.

Summary from filing dated 2025-11-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Revenue	321,333	293,959	262,173	238,587	213,989
Cost of goods sold	309,854	284,049	253,214	230,291	207,046
Gross profit	11,479	9,910	8,959	8,296	6,943
Distribution, selling, and administrative	6,494	5,661	5,310	4,849	3,594
Depreciation	494	429	410	387	327
Amortization	557	664	554	307	178
Litigation and opioid-related expenses (credit), net	61	227	−25	123	273
Acquisition-related deal and integration expenses	291	103	140	120	117
Restructuring and other expenses	229	234	230	63	82
Goodwill impairment	724	418	0	76	6
Operating income	2,629	2,175	2,341	2,366	2,354
Other loss (income), net	79	14	−49	−27	−42
Interest expense, net	292	157	229	211	174
Income before income taxes	2,258	2,004	2,161	2,183	2,222
Income tax expense	691	485	428	517	677
Net income	1,568	1,519	1,733	1,667	1,545
Net (income) loss attributable to noncontrolling interests	−14	−10	13	32	−5
Net income attributable to Cencora, Inc.	1,554	1,509	1,745	1,699	1,540
Basic (in usd per share)	8.02	7.6	8.62	8.15	7.48
Diluted (in usd per share)	7.96	7.53	8.53	8.04	7.39
Basic (in shares)	194	199	203	208	206
Diluted (in shares)	195	200	205	211	208

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	4,356	3,133	2,592	3,388	2,547
Accounts receivable, less allowances for returns and credit losses: 2025 $1,796,172; 2024 $1,308,018	25,225	23,872	20,911	18,453	18,167
Inventories	20,492	18,999	17,455	15,556	15,368
Right to recover assets	1,626	1,176	1,315	1,532	1,272
Prepaid expenses and other	539	539	449	488	854
Total current assets	52,239	47,718	42,799	39,590	38,803
Property and equipment, net	2,539	2,181	2,135	2,135	2,163
Goodwill	13,677	9,318	9,574	8,504	9,031
Other intangible assets	3,774	4,001	4,432	4,333	5,257
Deferred income taxes	209	246	201	238	291
Other assets	4,152	3,637	3,418	1,762	1,794
TOTAL ASSETS	76,590	67,102	62,559	56,561	57,338
Accounts payable	54,720	50,942	45,836	40,193	38,010
Accrued expenses and other	2,983	2,759	2,354	2,215	2,856
Short-term debt	118	576	641	1,070	300
Total current liabilities	57,821	54,277	48,831	43,478	41,359
Long-term debt	7,543	3,812	4,146	4,632	6,384
Accrued income taxes	338	292	311	320	281
Deferred income taxes	1,621	1,644	1,658	1,620	1,685
Accrued litigation liability	3,881	4,297	5,062	5,462	5,962
Other liabilities	3,640	1,994	1,885	977	1,083
Commitments and contingencies (Note 12)	—	—	—	—	—
Common stock, $0.01 par value authorized, issued, and outstanding: 2025 600,000,000 shares, 297,401,863 shares and 193,937,673 shares; 2024 600,000,000 shares, 296,169,781 shares and 194,943,968 shares	3	3	3	3	3
Additional paid-in capital	6,204	6,031	5,845	5,659	5,465
Retained earnings	6,534	5,417	4,324	2,978	1,671
Accumulated other comprehensive loss	−901	−989	−1,403	−1,831	−445
Treasury stock, at cost: 2025 103,464,190 shares; 2024 101,225,813 shares	−10,332	−9,816	−8,247	−7,020	—
Total Cencora, Inc. stockholders equity	1,508	646	522	−212	223
Noncontrolling interests	239	141	144	283	361
Total stockholders equity	1,747	787	666	71	584
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	76,590	67,102	62,559	56,561	57,338

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation, including amounts charged to cost of goods sold	501	448	419	391	327
Amortization, including amounts charged to interest expense	567	671	562	319	188
Provision for credit losses	63	41	54	26	12
Provision (benefit) for deferred income taxes	60	−102	−119	196	335
Share-based compensation expense	148	148	125	93	100
LIFO (credit) expense	−77	−52	205	67	−203
Impairment of assets, including goodwill	837	418	0	81	32
Loss (gain) on divestiture of businesses	36	0	−41	−56	0
Turkey highly inflationary impact	56	55	96	52	0
(Gain) loss on remeasurement of equity investment	−14	16	−242,000	−5	−65
Gain on divestiture of equity investment	−13	0	0	—	—
Other, net	−34	24	4	12	29
Accounts receivable	−1,923	−2,784	−2,712	−1,660	−930
Inventories	−1,269	−1,480	−2,183	−665	−1,116
Prepaid expenses and other assets	174	157	211	103	141
Accounts payable	3,693	4,968	6,103	3,321	2,049
Accrued expenses	−21	149	51	−457	372
Income taxes payable and other liabilities	−214	−205	−196	−330	−178
Long-term accrued litigation liability	−404	−506	−400	−500	−237
NET CASH PROVIDED BY OPERATING ACTIVITIES	3,875	3,485	3,911	2,703	2,667
Capital expenditures	−668	−487	−458	−496	−438
Cost of acquired companies, net of cash acquired	−4,096	−70	−1,410	−134	−5,563
Cost of equity investments	−196	−30	−743	−18	−163
Non-customer note receivable	−35	−50	0	0	—
Other, net	17	19	9	8	22
NET CASH USED IN INVESTING ACTIVITIES	−4,977	−618	−2,602	−368	−6,142
Senior notes and loan borrowings	4,508	688	158	155	3,167
Senior notes and loan repayments	−1,281	−663	−811	—	−835
Borrowings under revolving and securitization credit facilities	132,134	69,703	78,218	4,833	4,969
Repayments under revolving and securitization credit facilities	−132,166	−70,114	−78,188	−4,672	−5,084
Purchases of common stock	−435	−1,491	−1,181	−484	−82
Exercises of stock options	29	38	61	94	199
Cash dividends on common stock	−437	−416	−399	−392	−367
Employee tax withholdings related to restricted share vesting	−78	−64	−71	−38	−24
Other, net	−25	−12	−9	−10	10
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	2,249	−2,331	−2,222	−1,753	1,953
EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	−50	9	73	−58	−4
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,097	545	−841	523	−1,528

Filings

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