What is Cencora, Inc. (COR) DCF Fair Value and Intrinsic Value in 2026?

Cencora, Inc. (COR) intrinsic value is calculated using conservative multi-stage Discounted Cash Flow (DCF) models, 5-year free cash flow trajectories, Graham Numbers, and owner earnings multiples. LocalAlpha tracks real-time margin of safety against live market prices.

What is Cencora, Inc.'s historical Return on Invested Capital (ROIC) and Moat Rating?

Cencora, Inc. operates in the Healthcare sector (Medical Distribution) with an economic moat rating of NARROW. LocalAlpha tracks 5-year audited quarterly ROIC, operating margin stability, and balance sheet solvency ratios.

What is Cencora, Inc.'s financial health rating and Piotroski F-Score?

Cencora, Inc.'s balance sheet quality is evaluated using the 9-point Piotroski F-Score, Altman Z-Score solvency model, debt-to-equity ratio, and quick/current liquidity coverage to guard against financial distress.

How does LocalAlpha monitor Cencora, Inc. (COR) for quarterly SEC filing thesis breaks?

LocalAlpha audits Cencora, Inc.'s 10-K, 10-Q, and 8-K regulatory filings on SEC EDGAR within 15 minutes of release. If reported metrics breach an investor's custom ROIC floor, operating margin boundary, or qualitative risk criteria, an autonomous breach audit is dispatched immediately.

StocksCOR

COR

Cencora, Inc.Healthcare / Medical DistributionINTACT

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally. 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.

Share Price

$319.22

52W: $244.82 - $377.54

DCF Fair Value

$142.38

-124.2% Premium

Thesis Hub

P/E (TTM)

23.7x

ROIC

Operating Margin

1.4%

FCF Yield

3.4%

Debt / Equity

4.47x

Piotroski Score

4/9

Altman Z-Score

10.87

Market Cap

$60.9B

Price vs. Intrinsic Value Corridor

Overvalued vs DCF ($142.38)

Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.

Period Return (1Y)

—()

Period Range

$— - $—

DCF Fair Value

$142.38

MOS Buy Target (-25%)

$106.79

Valuation Overlays: DCF Fair Value ($142.38) 25% MOS Buy Target ($106.79) Revised Graham ($203.89) Graham Number ($69.64)

2-Stage Discounted Cash Flow (DCF) Workbench

Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.

Current Market Price

$319.22

DCF Fair Value

$141.69

-125.3% Premium

Starting Free Cash Flow ($M)$2,043M

$100M$2,043M (Reported)$50,000M

Stage 1 Growth (Years 1-5)5.3%

-5%10% (Target)35%

Stage 2 Growth (Years 6-10)4.5%

0%5%20%

Discount Rate (WACC / Hurdle)9.0%

6%9% (Standard)15% (High Risk)

Terminal Perpetual Growth2.5%

1% (GDP Floor)2.5% (Inflation)4.0%

Net Debt ($M)$11,700M

-$100B CashBalance Sheet+$150B Debt

10-Yr PV of Cash Flows

$16.8B

PV of Terminal Value

$22.0B

Implied Enterprise Value

$38.8B

Implied Equity Value

$27.1B

Year	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10
Projected FCF ($M)	$2,151	$2,265	$2,385	$2,512	$2,645	$2,764	$2,888	$3,018	$3,154	$3,296
Present Value (PV)	$1,974	$1,907	$1,842	$1,779	$1,719	$1,648	$1,580	$1,515	$1,452	$1,392

Benjamin Graham & Buffett Value Models

Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.

Graham Number-358.4% Premium

$69.64

Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.

EPS: $13.48BVPS: $15.99

Revised Graham Formula-56.6% Premium

$203.89

Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.

Growth Rate (g%)

Bond Yield (Y%)

Buffett Owner Earnings3.2% Yield

$10.16 / share

True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.

Total: $1.9BYield: 3.2%

Reverse DCF: Market Growth Expectation

FAIR BARRIER

10.9% CAGR (Next 10 Yrs)

At the current price of $319.22, the market is assuming the business will compound Free Cash Flow at 10.9% per year for the next decade with a 9% hurdle rate.

Value Investor Verdict

ℹ Fair expectations: Requires steady execution.

Autonomous Thesis Underwriting

Surveil COR with Mathematical Margin of Safety Rules

Set non-negotiable floor rules for Cencora, Inc.. If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.

Buffett Quality

ROIC > 15% • Margin > 15% • D/E < 0.5x

Margin Floor Guard

Current Margin 1.4% • Floor > 10%

Solvency Guard

Altman-Z > 2.6 • Current Ratio > 1.5x

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Frequently Asked Questions: Cencora, Inc. (COR) Intrinsic Valuation

Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for Cencora, Inc..

Based on institutional multi-stage Discounted Cash Flow (DCF) modeling on audited SEC cash flows, Cencora, Inc. has an estimated DCF intrinsic fair value of $142.38 per share compared to its current market price of $319.22. This represents an estimated 124.2% premium over fair value. Additionally, its classic Benjamin Graham Number stands at $69.64.