<div id="readability-page-1"><div><h2>Why Cencora is on investors’ radar today</h2> <p>Cencora (COR) has drawn attention after a solid year of positive total returns, along with reported annual revenue of US$321.3b and net income of US$1.6b, prompting investors to reassess how the stock is currently priced.</p> <p>See our latest analysis for Cencora.</p> <p>The current share price of US$352.47 sits against a 30 day share price return of 3.5% and a 90 day share price return of 5.9%, while the 1 year total shareholder return of 43.3% and 5 year total shareholder return of 248.5% point to strong longer term momentum that investors are weighing against today’s valuation.</p> <p>If Cencora’s run has you thinking about where else growth and resilience might show up next, it could be a good moment to scan quality US healthcare names through healthcare stocks.</p> <p>With Cencora trading at US$352.47, a reported intrinsic discount of about 49% and a price target of US$396.80, the key question is whether there is still an opportunity here or if markets are already pricing in future growth.</p> <h2>Most Popular Narrative: 9.1% Undervalued</h2> <p>The most followed narrative puts Cencora’s fair value at about $387.93 per share versus the last close of $352.47, framing the recent share price strength against a slightly higher long term view backed by detailed model assumptions.</p> <blockquote> <p><em>Cencora's ongoing investment in digital infrastructure and advanced analytics positions the company to capitalize on the accelerating digitization of healthcare and regulatory requirements like the Drug Supply Chain Security Act, improving supply chain efficiency and transparency, which should drive higher net margins and operating income over time.</em></p> </blockquote> <p>Read the complete narrative.</p> <p>Curious what sits behind that projected uplift in margins and earnings? The narrative leans on steady top line expansion, richer profit mix, and a future valuation multiple that assumes Cencora keeps earning its place in premium territory. The details of how those pieces fit together are where the story really gets interesting.</p> <p><strong>Result: Fair Value of $387.93 (UNDERVALUED)</strong></p> <p>Have a read of the narrative in full and understand what's behind the forecasts.</p> <p>However, that story can change quickly if biosimilars and generics keep pressuring fees, or if international weakness and regulatory scrutiny place greater pressure on profitability.</p> <p>Find out about the key risks to this Cencora narrative.</p> <h2>Another Angle on Cencora’s Valuation</h2> <p>There is a twist when you look at Cencora through its P/E. The shares trade at about 44x earnings, compared with roughly 23.6x for the wider US Healthcare industry and 22.9x for peers, while the fair ratio is estimated at 36.9x.</p> <p>That gap suggests investors are already paying a clear premium, even though some models still flag Cencora as trading about 49.4% below estimated fair value. The key issue is whether you view that premium as justified by potential future earnings strength, or as a valuation risk if expectations cool.</p> <p>See what the numbers say about this price — find out in our valuation breakdown.</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/f898e4a6-be93-45dd-be51-f4d1aa448a21/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/f898e4a6-be93-45dd-be51-f4d1aa448a21/chart/pe-multiple-vs-industry"/><figcaption>NYSE:COR P/E Ratio as at Jan 2026</figcaption></figure><h2> Build Your Own Cencora Narrative</h2> <p>If you see the numbers differently or want to stress test your own assumptions, you can create a personalized Cencora view in just a few minutes, starting with Do it your way.</p> <p>A great starting point for your Cencora research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.</p> <h2>Looking for more investment ideas?</h2> <p>If Cencora is on your watchlist, do not stop there. Broaden your opportunity set by scanning other focused stock sets that match the way you like to invest.</p> <ul> <li>Spot potential value candidates early by checking out these 880 undervalued stocks based on cash flows, which is built around cash flow based metrics.</li> <li>Tap into the growing link between healthcare and machine learning with these 111 healthcare AI stocks, which focuses on this theme.</li> <li>Lean into digital assets exposure through equity markets using these 19 cryptocurrency and blockchain stocks, which concentrates on cryptocurrency and blockchain related businesses.</li> </ul> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p></div></div>

<p>Cencora (COR) has gained investor attention due to strong returns, with a reported annual revenue of $321.3 billion and net income of $1.6 billion. The current share price is $352.47, reflecting a 43.3% total shareholder return over the past year. Analysts suggest a fair value of $387.93 per share, indicating it is undervalued despite a high P/E ratio of 44x compared to industry peers. The company's investments in digital infrastructure may enhance margins, but risks from biosimilars and regulatory scrutiny could impact profitability. Overall, Cencora presents a mixed valuation outlook.</p>

Simplywall

iShares US Pharma

Assessing Cencora (COR) Valuation After Strong Returns And Premium P/E Multiple