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 57,296 - -
Change - 13.01% 28.88% 22.05% 37.34% -5.44% - -
Enterprise Value (EV) 1 28,957 30,363 38,343 45,373 63,897 64,986 66,732 68,186
Change - 4.86% 26.28% 18.33% 40.83% 1.7% 2.69% 2.18%
P/E 16.2x 16.8x 21.1x 29.9x 39.3x 17x 18.5x 16.4x
PBR 111x 401x 54.2x 67.9x 34.7x 16.4x 15.3x 18.3x
PEG - 1.91x 3.46x -2.6x 6.88x 0x -2.2x 1.3x
Capitalization / Revenue 0.12x 0.12x 0.14x 0.15x 0.19x 0.17x 0.16x 0.15x
EV / Revenue 0.14x 0.13x 0.15x 0.15x 0.2x 0.19x 0.19x 0.18x
EV / EBITDA 9.73x 8.55x 10.4x 11.1x 13.5x 12.1x 11.7x 10.6x
EV / EBIT 10.9x 9.6x 11.7x 12.4x 15.1x 13.5x 13.1x 12x
EV / FCF 13x 13.8x 11.1x 15.1x 19.9x 21.3x 18.7x 16.8x
FCF Yield 7.7% 7.27% 9.01% 6.61% 5.02% 4.69% 5.35% 5.96%
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% 0.82%
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 2 119.45 135.33 179.97 225.08 312.53 309.78 309.78 309.78
Nbr of stocks (in thousands) 207,787 207,258 200,854 196,008 193,878 190,827 - -
Announcement Date 11/4/21 11/3/22 11/2/23 11/6/24 11/5/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28x3.88x15.01x2.6% 171B
18.25x3.37x12.03x3.26% 110B
21.42x4.21x14.72x1.31% 106B
25.75x2.52x10.21x2.8% 75.99B
16.44x0.19x12.1x0.79% 57.3B
34.49x3.36x11.49x2.19% 48.76B
28.75x7.1x18.34x1.39% 50.19B
35.36x8.79x24.72x-.--% 41.14B
34.67x6.08x19.09x-.--% 32.56B
Average 27.02x 4.39x 15.30x 1.59% 77B
Weighted average by Cap. 25.50x 3.99x 14.49x 1.99%

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