Company Valuation: Cencora, Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,820 28,048 36,148 44,117 60,593 64,187 - -
Change - 13.01% 28.88% 22.05% 37.34% 5.93% - -
Enterprise Value (EV) 1 28,957 30,363 38,343 45,373 63,897 71,871 73,623 75,077
Change - 4.86% 26.28% 18.33% 40.83% 12.48% 2.44% 1.97%
P/E 16.2x 16.8x 21.1x 29.9x 39.3x 18.4x 20.1x 17.8x
PBR 111x 401x 54.2x 67.9x 34.7x 17.8x 16.6x 19.9x
PEG - 1.91x 3.46x -2.6x 6.88x 0x -2.39x 1.4x
Capitalization / Revenue 0.12x 0.12x 0.14x 0.15x 0.19x 0.19x 0.18x 0.17x
EV / Revenue 0.14x 0.13x 0.15x 0.15x 0.2x 0.21x 0.21x 0.2x
EV / EBITDA 9.73x 8.55x 10.4x 11.1x 13.5x 13.4x 13x 12.2x
EV / EBIT 10.9x 9.6x 11.7x 12.4x 15.1x 15x 14.4x 13.7x
EV / FCF 13x 13.8x 11.1x 15.1x 19.9x 23.6x 19.9x 18.6x
FCF Yield 7.7% 7.27% 9.01% 6.61% 5.02% 4.24% 5.01% 5.38%
Dividend per Share 2 1.78 1.84 1.94 2.04 2.2 2.387 2.454 2.561
Rate of return 1.49% 1.36% 1.08% 0.91% 0.7% 0.71% 0.73% 0.76%
EPS 2 7.39 8.04 8.53 7.53 7.96 18.26 16.73 18.87
Distribution rate 24.1% 22.9% 22.7% 27.1% 27.6% 13.1% 14.7% 13.6%
Net sales 1 213,989 238,587 262,173 293,959 321,333 337,169 353,295 371,999
EBITDA 1 2,977 3,553 3,702 4,080 4,721 5,369 5,682 6,176
EBIT 1 2,648 3,163 3,289 3,648 4,223 4,796 5,097 5,473
Net income 1 1,540 1,699 1,745 1,509 1,554 3,580 2,845 3,164
Net Debt 1 4,137 2,315 2,195 1,255 3,305 7,684 9,437 10,891
Reference price 2 119.45 135.33 179.97 225.08 312.53 336.36 336.36 336.36
Nbr of stocks (in thousands) 207,787 207,258 200,854 196,008 193,878 190,827 - -
Announcement Date 04/11/21 03/11/22 02/11/23 06/11/24 05/11/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.42x0.21x13.39x0.71% 64.19B
31.69x4.28x16.43x2.33% 191B
19.8x3.57x12.75x3.17% 118B
29.93x7.38x19.05x1.33% 51.49B
36.14x3.47x11.9x2.09% 51.08B
35.95x6.33x19.86x-.--% 33.85B
46.86x1.34x12.44x0.2% 31.85B
39.96x7x25.11x0.26% 24.11B
18.71x2.93x10.5x1.5% 22.96B
24.81x3.74x13.14x1.16% 22.46B
Average 30.23x 4.02x 15.46x 1.28% 61.11B
Weighted average by Cap. 28.84x 3.91x 15.22x 1.82%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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