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 58,569 - -
Change - 13.01% 28.88% 22.05% 37.34% -3.34% - -
Enterprise Value (EV) 1 28,957 30,363 38,343 45,373 63,897 66,259 68,005 69,459
Change - 4.86% 26.28% 18.33% 40.83% 3.7% 2.64% 2.14%
P/E 16.2x 16.8x 21.1x 29.9x 39.3x 16.8x 18.3x 16.3x
PBR 111x 401x 54.2x 67.9x 34.7x 16.2x 15.2x 18.2x
PEG - 1.91x 3.46x -2.6x 6.88x 0x -2.18x 1.3x
Capitalization / Revenue 0.12x 0.12x 0.14x 0.15x 0.19x 0.17x 0.17x 0.16x
EV / Revenue 0.14x 0.13x 0.15x 0.15x 0.2x 0.2x 0.19x 0.19x
EV / EBITDA 9.73x 8.55x 10.4x 11.1x 13.5x 12.3x 11.9x 10.8x
EV / EBIT 10.9x 9.6x 11.7x 12.4x 15.1x 13.8x 13.3x 12.2x
EV / FCF 13x 13.8x 11.1x 15.1x 19.9x 21.7x 19x 17.1x
FCF Yield 7.7% 7.27% 9.01% 6.61% 5.02% 4.6% 5.25% 5.85%
Dividend per Share 2 1.78 1.84 1.94 2.04 2.2 2.377 2.434 2.533
Rate of return 1.49% 1.36% 1.08% 0.91% 0.7% 0.77% 0.79% 0.83%
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% 14.6% 13.4%
Net sales 1 213,989 238,587 262,173 293,959 321,333 337,014 352,971 373,186
EBITDA 1 2,977 3,553 3,702 4,080 4,721 5,370 5,693 6,451
EBIT 1 2,648 3,163 3,289 3,648 4,223 4,802 5,098 5,679
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 7,690 9,437 10,891
Reference price 2 119.45 135.33 179.97 225.08 312.53 306.92 306.92 306.92
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.($)
28.7x3.97x15.34x2.54% 175B
18.75x3.44x12.31x3.18% 113B
16.81x0.2x12.34x0.77% 58.57B
35.42x3.42x11.72x2.13% 50.07B
28.64x7.07x18.26x1.4% 49.92B
34.72x6.1x19.16x-.--% 32.69B
45.51x1.29x11.97x0.21% 30.44B
43.2x7.58x27.18x0.24% 26.07B
54.38x7.25x23.3x0.39% 23.55B
Average 34.01x 4.48x 16.84x 1.21% 62.22B
Weighted average by Cap. 29.06x 3.98x 15.27x 1.87%

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