CENCORA INC (COR) Stock Fundamental Analysis
NYSE:COR - New York Stock Exchange, Inc. - US03073E1055 - Common Stock - Currency: USD
Taking everything into account, COR scores 4 out of 10 in our fundamental rating. COR was compared to 102 industry peers in the Health Care Providers & Services industry. While COR is still in line with the averages on profitability rating, there are concerns on its financial health. While showing a medium growth rate, COR is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year COR was profitable.
COR had a negative operating cash flow in the past year.
COR had positive earnings in 4 of the past 5 years.
Each year in the past 5 years COR had a positive operating cash flow.
1.2 Ratios
The Return On Assets of COR (2.02%) is comparable to the rest of the industry.
Looking at the Return On Equity, with a value of 616.22%, COR belongs to the top of the industry, outperforming 99.02% of the companies in the same industry.
COR has a better Return On Invested Capital (16.43%) than 92.16% of its industry peers.
COR had an Average Return On Invested Capital over the past 3 years of 16.51%. This is significantly above the industry average of 9.13%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.02% | ||
| ROE | 616.22% | ||
| ROIC | 16.43% |
ROA(3y)2.68%
ROA(5y)0.61%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)16.51%
ROIC(5y)15.55%
1.3 Margins
The Profit Margin of COR (0.46%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of COR has grown nicely.
With a Operating Margin value of 1.01%, COR perfoms like the industry average, outperforming 41.18% of the companies in the same industry.
COR's Operating Margin has been stable in the last couple of years.
COR has a Gross Margin of 3.26%. This is amonst the worse of the industry: COR underperforms 83.33% of its industry peers.
COR's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 1.01% | ||
| PM (TTM) | 0.46% | ||
| GM | 3.26% |
OM growth 3Y-6.12%
OM growth 5Y-0.1%
PM growth 3Y-10.65%
PM growth 5Y1.52%
GM growth 3Y1.72%
GM growth 5Y3.69%
2. Health
2.1 Basic Checks
COR has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for COR has been reduced compared to 1 year ago.
Compared to 5 years ago, COR has less shares outstanding
Compared to 1 year ago, COR has an improved debt to assets ratio.
2.2 Solvency
COR has an Altman-Z score of 5.07. This indicates that COR is financially healthy and has little risk of bankruptcy at the moment.
COR's Altman-Z score of 5.07 is amongst the best of the industry. COR outperforms 85.29% of its industry peers.
COR has a Debt/Equity ratio of 26.20. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 26.20, COR is doing worse than 87.25% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 26.2 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 5.07 |
ROIC/WACC1.91
WACC8.62%
2.3 Liquidity
A Current Ratio of 0.92 indicates that COR may have some problems paying its short term obligations.
COR's Current ratio of 0.92 is on the low side compared to the rest of the industry. COR is outperformed by 77.45% of its industry peers.
A Quick Ratio of 0.54 indicates that COR may have some problems paying its short term obligations.
COR has a worse Quick ratio (0.54) than 87.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.92 | ||
| Quick Ratio | 0.54 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 13.14% over the past year.
Measured over the past years, COR shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.21% on average per year.
Looking at the last year, COR shows a quite strong growth in Revenue. The Revenue has grown by 11.64% in the last year.
The Revenue has been growing by 10.36% on average over the past years. This is quite good.
EPS 1Y (TTM)13.14%
EPS 3Y14.11%
EPS 5Y14.21%
EPS Q2Q%13.72%
Revenue 1Y (TTM)11.64%
Revenue growth 3Y11.16%
Revenue growth 5Y10.36%
Sales Q2Q%12.78%
3.2 Future
Based on estimates for the next years, COR will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.18% on average per year.
The Revenue is expected to grow by 7.62% on average over the next years.
EPS Next Y13.42%
EPS Next 2Y11.53%
EPS Next 3Y11.04%
EPS Next 5Y11.18%
Revenue Next Year10.49%
Revenue Next 2Y8.66%
Revenue Next 3Y8.08%
Revenue Next 5Y7.62%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 20.56 indicates a rather expensive valuation of COR.
Compared to the rest of the industry, the Price/Earnings ratio of COR indicates a somewhat cheap valuation: COR is cheaper than 66.67% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 28.22. COR is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 17.07, the valuation of COR can be described as rather expensive.
73.53% of the companies in the same industry are more expensive than COR, based on the Price/Forward Earnings ratio.
COR is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 20.86, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.56 | ||
| Fwd PE | 17.07 |
4.2 Price Multiples
COR's Enterprise Value to EBITDA is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 14.62 |
4.3 Compensation for Growth
COR's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of COR may justify a higher PE ratio.
PEG (NY)1.53
PEG (5Y)1.45
EPS Next 2Y11.53%
EPS Next 3Y11.04%
5. Dividend
5.1 Amount
COR has a yearly dividend return of 0.76%, which is pretty low.
COR's Dividend Yield is rather good when compared to the industry average which is at 2.60. COR pays more dividend than 82.35% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.44, COR's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.76% |
5.2 History
The dividend of COR has a limited annual growth rate of 5.42%.
COR has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of COR decreased in the last 3 years.
Dividend Growth(5Y)5.42%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
30.18% of the earnings are spent on dividend by COR. This is a low number and sustainable payout ratio.
COR's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP30.18%
EPS Next 2Y11.53%
EPS Next 3Y11.04%
292.12
+1.69 (+0.58%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)
Earnings (Next)
Inst Owners91.43%
Inst Owner Change0%
Ins Owners0.24%
Ins Owner Change5.96%
Market Cap56.59B
Analysts77.27
Price Target305.81 (4.69%)
Short Float %3.68%
Short Ratio3.67
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.76% |
Yearly Dividend2.1
Dividend Growth(5Y)5.42%
DP30.18%
Div Incr Years2
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.03%
Min EPS beat(2)2.68%
Max EPS beat(2)5.38%
EPS beat(4)4
Avg EPS beat(4)3.18%
Min EPS beat(4)1.86%
Max EPS beat(4)5.38%
EPS beat(8)8
Avg EPS beat(8)4.25%
EPS beat(12)12
Avg EPS beat(12)3.84%
EPS beat(16)15
Avg EPS beat(16)3.18%
Revenue beat(2)2
Avg Revenue beat(2)1.86%
Min Revenue beat(2)0.79%
Max Revenue beat(2)2.93%
Revenue beat(4)3
Avg Revenue beat(4)-0.09%
Min Revenue beat(4)-4.13%
Max Revenue beat(4)2.93%
Revenue beat(8)7
Avg Revenue beat(8)1.76%
Revenue beat(12)9
Avg Revenue beat(12)1.15%
Revenue beat(16)11
Avg Revenue beat(16)0.83%
PT rev (1m)7.81%
PT rev (3m)10.22%
EPS NQ rev (1m)0.87%
EPS NQ rev (3m)-3.31%
EPS NY rev (1m)0.18%
EPS NY rev (3m)3.29%
Revenue NQ rev (1m)0.13%
Revenue NQ rev (3m)1.01%
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)0.9%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.56 | ||
| Fwd PE | 17.07 | ||
| P/S | 0.19 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 249.74 | ||
| P/tB | N/A | ||
| EV/EBITDA | 14.62 |
EPS(TTM)14.21
EY4.86%
EPS(NY)17.12
Fwd EY5.86%
FCF(TTM)-3.29
FCFYN/A
OCF(TTM)-0.62
OCFYN/A
SpS1565.19
BVpS1.17
TBVpS-65.22
PEG (NY)1.53
PEG (5Y)1.45
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.02% | ||
| ROE | 616.22% | ||
| ROCE | 21.06% | ||
| ROIC | 16.43% | ||
| ROICexc | 21.11% | ||
| ROICexgc | N/A | ||
| OM | 1.01% | ||
| PM (TTM) | 0.46% | ||
| GM | 3.26% | ||
| FCFM | N/A |
ROA(3y)2.68%
ROA(5y)0.61%
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)16.51%
ROIC(5y)15.55%
ROICexc(3y)21.56%
ROICexc(5y)21.55%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)21.17%
ROCE(5y)19.93%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y15.26%
ROICexc growth 5Y0.87%
OM growth 3Y-6.12%
OM growth 5Y-0.1%
PM growth 3Y-10.65%
PM growth 5Y1.52%
GM growth 3Y1.72%
GM growth 5Y3.69%
F-Score4
Asset Turnover4.39
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 26.2 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 1.42 | ||
| Cap/Depr | 46.25% | ||
| Cap/Sales | 0.17% | ||
| Interest Coverage | 13.13 | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.92 | ||
| Quick Ratio | 0.54 | ||
| Altman-Z | 5.07 |
F-Score4
WACC8.62%
ROIC/WACC1.91
Cap/Depr(3y)53.4%
Cap/Depr(5y)67.19%
Cap/Sales(3y)0.18%
Cap/Sales(5y)0.19%
Profit Quality(3y)175.45%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)13.14%
EPS 3Y14.11%
EPS 5Y14.21%
EPS Q2Q%13.72%
EPS Next Y13.42%
EPS Next 2Y11.53%
EPS Next 3Y11.04%
EPS Next 5Y11.18%
Revenue 1Y (TTM)11.64%
Revenue growth 3Y11.16%
Revenue growth 5Y10.36%
Sales Q2Q%12.78%
Revenue Next Year10.49%
Revenue Next 2Y8.66%
Revenue Next 3Y8.08%
Revenue Next 5Y7.62%
EBIT growth 1Y14.93%
EBIT growth 3Y4.36%
EBIT growth 5Y10.24%
EBIT Next Year27.57%
EBIT Next 3Y13.66%
EBIT Next 5Y5.18%
FCF growth 1Y-131.04%
FCF growth 3Y10.42%
FCF growth 5Y8.07%
OCF growth 1Y-104.68%
OCF growth 3Y9.35%
OCF growth 5Y8.25%