Cencora (COR)
Market Price (7/24/2026): $304.04 | Market Cap: $59.1 BilInvestor Relations Sector: Health Care | Industry: Health Care Distributors
Cencora (COR)
Market Price (7/24/2026): $304.04Market Cap: $59.1 BilSector: Health CareIndustry: Health Care Distributors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.1% Stock buyback supportStock Buyback 3Y Total is 2.3 Bil Attractive cash flow generationCFO LTM is 2.3 Bil Low stock price volatilityVol 12M is 31% Megatrend and thematic driversMegatrends include Precision Medicine, Aging Population & Chronic Disease, Digital Health & Telemedicine, and E-commerce Logistics & Data Centers. Show more. | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 26x Key risksCOR key risks include [1] substantial liabilities from its multi-billion dollar opioid litigation settlement and [2] the financial and legal fallout from a February 2024 cyberattack that exposed sensitive patient data. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.1% |
| Stock buyback supportStock Buyback 3Y Total is 2.3 Bil |
| Attractive cash flow generationCFO LTM is 2.3 Bil |
| Low stock price volatilityVol 12M is 31% |
| Megatrend and thematic driversMegatrends include Precision Medicine, Aging Population & Chronic Disease, Digital Health & Telemedicine, and E-commerce Logistics & Data Centers. Show more. |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 26x |
| Key risksCOR key risks include [1] substantial liabilities from its multi-billion dollar opioid litigation settlement and [2] the financial and legal fallout from a February 2024 cyberattack that exposed sensitive patient data. |
Qualitative Assessment
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Updated on 7/7/2026
Cencora (COR) stock has lost about 5% since 3/31/2026 because of the following key factors:
1. Cencora's fiscal Q2 2026 revenue missed analyst expectations and led to a downward revision of full-year revenue guidance. On May 6, 2026, Cencora reported revenue of $78.4 billion for its fiscal second quarter, which ended March 31, 2026, falling short of analysts' consensus estimates of $81.09 billion by $2.64 billion. This revenue shortfall contributed significantly to a 17.6% decline in the stock price on the day of the announcement. Additionally, the company lowered its consolidated revenue growth guidance for fiscal year 2026 to a range of 4% to 6%, down from the previously projected 7% to 9%.
2. The U.S. Healthcare Solutions segment experienced significant headwinds. During the fiscal Q2 2026 earnings call, Cencora detailed challenges impacting its largest segment, U.S. Healthcare Solutions. Revenue growth in this area was negatively affected by branded-drug price cuts, reduced sales to a major mail-order client, and prior customer losses. These factors collectively resulted in a $2 billion revenue headwind for the segment, even with some growth observed in GLP-1 products.
Show more
Cencora (COR) stock has lost about 5% since 3/31/2026 because of the following key factors:
1. Cencora's fiscal Q2 2026 revenue missed analyst expectations and led to a downward revision of full-year revenue guidance. On May 6, 2026, Cencora reported revenue of $78.4 billion for its fiscal second quarter, which ended March 31, 2026, falling short of analysts' consensus estimates of $81.09 billion by $2.64 billion. This revenue shortfall contributed significantly to a 17.6% decline in the stock price on the day of the announcement. Additionally, the company lowered its consolidated revenue growth guidance for fiscal year 2026 to a range of 4% to 6%, down from the previously projected 7% to 9%.
2. The U.S. Healthcare Solutions segment experienced significant headwinds. During the fiscal Q2 2026 earnings call, Cencora detailed challenges impacting its largest segment, U.S. Healthcare Solutions. Revenue growth in this area was negatively affected by branded-drug price cuts, reduced sales to a major mail-order client, and prior customer losses. These factors collectively resulted in a $2 billion revenue headwind for the segment, even with some growth observed in GLP-1 products.
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Updated on 7/7/2026
Cencora (COR) stock has lost about 5% since 3/31/2026 because of the following key factors:
1. Cencora's fiscal Q2 2026 revenue missed analyst expectations and led to a downward revision of full-year revenue guidance. On May 6, 2026, Cencora reported revenue of $78.4 billion for its fiscal second quarter, which ended March 31, 2026, falling short of analysts' consensus estimates of $81.09 billion by $2.64 billion. This revenue shortfall contributed significantly to a 17.6% decline in the stock price on the day of the announcement. Additionally, the company lowered its consolidated revenue growth guidance for fiscal year 2026 to a range of 4% to 6%, down from the previously projected 7% to 9%.
2. The U.S. Healthcare Solutions segment experienced significant headwinds. During the fiscal Q2 2026 earnings call, Cencora detailed challenges impacting its largest segment, U.S. Healthcare Solutions. Revenue growth in this area was negatively affected by branded-drug price cuts, reduced sales to a major mail-order client, and prior customer losses. These factors collectively resulted in a $2 billion revenue headwind for the segment, even with some growth observed in GLP-1 products.
3. Several prominent analysts reduced their price targets for Cencora. Following the fiscal Q2 2026 earnings report, multiple Wall Street analysts adjusted their price targets downward, reflecting a more cautious outlook despite the company raising its adjusted diluted EPS guidance. For instance, Barclays reduced its price target from $425 to $350 on June 10, 2026, and Wells Fargo lowered its target from $429 to $331 on May 11, 2026. B of A Securities set a price target of $285 on June 24, 2026.
Show less
Cencora (COR) stock has lost about 5% since 3/31/2026 because of the following key factors:
1. Cencora's fiscal Q2 2026 revenue missed analyst expectations and led to a downward revision of full-year revenue guidance. On May 6, 2026, Cencora reported revenue of $78.4 billion for its fiscal second quarter, which ended March 31, 2026, falling short of analysts' consensus estimates of $81.09 billion by $2.64 billion. This revenue shortfall contributed significantly to a 17.6% decline in the stock price on the day of the announcement. Additionally, the company lowered its consolidated revenue growth guidance for fiscal year 2026 to a range of 4% to 6%, down from the previously projected 7% to 9%.
2. The U.S. Healthcare Solutions segment experienced significant headwinds. During the fiscal Q2 2026 earnings call, Cencora detailed challenges impacting its largest segment, U.S. Healthcare Solutions. Revenue growth in this area was negatively affected by branded-drug price cuts, reduced sales to a major mail-order client, and prior customer losses. These factors collectively resulted in a $2 billion revenue headwind for the segment, even with some growth observed in GLP-1 products.
3. Several prominent analysts reduced their price targets for Cencora. Following the fiscal Q2 2026 earnings report, multiple Wall Street analysts adjusted their price targets downward, reflecting a more cautious outlook despite the company raising its adjusted diluted EPS guidance. For instance, Barclays reduced its price target from $425 to $350 on June 10, 2026, and Wells Fargo lowered its target from $429 to $331 on May 11, 2026. B of A Securities set a price target of $285 on June 24, 2026.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -2.7% change in COR stock from 3/31/2026 to 7/23/2026 was primarily driven by a -37.8% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7232026 | Change |
|---|---|---|---|
| Stock Price ($) | 313.42 | 305.06 | -2.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 325,778 | 328,680 | 0.9% |
| Net Income Margin (%) | 0.5% | 0.8% | 55.4% |
| P/E Multiple | 37.5 | 23.3 | -37.8% |
| Shares Outstanding (Mil) | 194 | 195 | -0.2% |
| Cumulative Contribution | -2.7% |
Market Drivers
3/31/2026 to 7/23/2026| Return | Correlation | |
|---|---|---|
| COR | -2.7% | |
| Market (SPY) | 13.5% | -24.8% |
| Sector (XLV) | 10.1% | 28.3% |
Fundamental Drivers
The -9.3% change in COR stock from 12/31/2025 to 7/23/2026 was primarily driven by a -44.5% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7232026 | Change |
|---|---|---|---|
| Stock Price ($) | 336.40 | 305.06 | -9.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 321,333 | 328,680 | 2.3% |
| Net Income Margin (%) | 0.5% | 0.8% | 60.3% |
| P/E Multiple | 42.0 | 23.3 | -44.5% |
| Shares Outstanding (Mil) | 194 | 195 | -0.3% |
| Cumulative Contribution | -9.3% |
Market Drivers
12/31/2025 to 7/23/2026| Return | Correlation | |
|---|---|---|
| COR | -9.3% | |
| Market (SPY) | 8.5% | -5.8% |
| Sector (XLV) | 4.7% | 24.9% |
Fundamental Drivers
The 2.5% change in COR stock from 6/30/2025 to 7/23/2026 was primarily driven by a 42.1% change in the company's Net Income Margin (%).| (LTM values as of) | 6302025 | 7232026 | Change |
|---|---|---|---|
| Stock Price ($) | 297.60 | 305.06 | 2.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 310,232 | 328,680 | 5.9% |
| Net Income Margin (%) | 0.5% | 0.8% | 42.1% |
| P/E Multiple | 34.1 | 23.3 | -31.6% |
| Shares Outstanding (Mil) | 194 | 195 | -0.4% |
| Cumulative Contribution | 2.5% |
Market Drivers
6/30/2025 to 7/23/2026| Return | Correlation | |
|---|---|---|
| COR | 2.5% | |
| Market (SPY) | 20.5% | -6.3% |
| Sector (XLV) | 21.3% | 28.0% |
Fundamental Drivers
The 62.7% change in COR stock from 6/30/2023 to 7/23/2026 was primarily driven by a 32.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 6302023 | 7232026 | Change |
|---|---|---|---|
| Stock Price ($) | 187.54 | 305.06 | 62.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 247,543 | 328,680 | 32.8% |
| Net Income Margin (%) | 0.7% | 0.8% | 18.7% |
| P/E Multiple | 23.5 | 23.3 | -0.8% |
| Shares Outstanding (Mil) | 202 | 195 | 4.0% |
| Cumulative Contribution | 62.7% |
Market Drivers
6/30/2023 to 7/23/2026| Return | Correlation | |
|---|---|---|
| COR | 62.7% | |
| Market (SPY) | 72.4% | -1.5% |
| Sector (XLV) | 27.3% | 29.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| COR Return | 38% | 27% | 25% | 10% | 51% | -11% | 227% |
| Peers Return | 28% | 6% | 25% | -2% | 34% | -8% | 107% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| COR Win Rate | 58% | 67% | 75% | 58% | 67% | 57% | |
| Peers Win Rate | 62% | 52% | 58% | 52% | 57% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| COR Max Drawdown | -11% | -18% | -12% | -12% | -11% | -32% | |
| Peers Max Drawdown | -16% | -31% | -22% | -24% | -21% | -27% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MCK, CAH, HSIC, ZTS, IDXX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/23/2026 (YTD)
How Low Can It Go
| Event | COR | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -22.3% | -33.7% |
| % Gain to Breakeven | 28.7% | 50.9% |
| Time to Breakeven | 67 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.9% | -19.2% |
| % Gain to Breakeven | 28.1% | 23.8% |
| Time to Breakeven | 199 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -17.0% | -3.7% |
| % Gain to Breakeven | 20.5% | 3.9% |
| Time to Breakeven | 57 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -19.8% | -12.2% |
| % Gain to Breakeven | 24.7% | 13.9% |
| Time to Breakeven | 709 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -14.5% | -17.9% |
| % Gain to Breakeven | 17.0% | 21.8% |
| Time to Breakeven | 77 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -38.8% | -53.4% |
| % Gain to Breakeven | 63.5% | 114.4% |
| Time to Breakeven | 314 days | 1085 days |
In The Past
Cencora's stock fell -1.6% during the 2025 US Tariff Shock. Such a loss loss requires a 1.7% gain to breakeven.
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| Event | COR | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -22.3% | -33.7% |
| % Gain to Breakeven | 28.7% | 50.9% |
| Time to Breakeven | 67 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.9% | -19.2% |
| % Gain to Breakeven | 28.1% | 23.8% |
| Time to Breakeven | 199 days | 105 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -38.8% | -53.4% |
| % Gain to Breakeven | 63.5% | 114.4% |
| Time to Breakeven | 314 days | 1085 days |
In The Past
Cencora's stock fell -1.6% during the 2025 US Tariff Shock. Such a loss loss requires a 1.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Cencora (COR)
Cencora, Inc. (NYSE: COR) is a global healthcare company primarily involved in the sourcing and distribution of a wide array of pharmaceutical products. Acting as a crucial intermediary in the healthcare supply chain, the company ensures that medicines, over-the-counter products, and various healthcare supplies reach a diverse range of providers. Beyond distribution, Cencora offers extensive services designed to enhance the efficiency and operational effectiveness of the healthcare and biopharmaceutical industries.
The company's U.S. operations focus on distributing pharmaceuticals, home healthcare supplies, and medical equipment to acute care hospitals, retail pharmacies, medical clinics, and long-term care facilities. Cencora also provides vital support services, including pharmacy management, consulting, supply chain software, packaging solutions, and clinical trial support for manufacturers. Additionally, it serves the animal health market with pharmaceuticals and diagnostics, and offers specialized distribution for complex products like plasma and injectable medicines to physicians and healthcare providers across various disease states.
Internationally, Cencora operates a significant pharmaceutical wholesale and distribution network, primarily across Europe, serving pharmacies, doctors, and hospitals. This segment also provides global commercialization services and specialized transportation and logistics for the biopharmaceutical industry. Through its comprehensive offerings, Cencora partners with pharmaceutical manufacturers, healthcare providers, and pharmacies worldwide to streamline product access, optimize supply chain management, and deliver critical healthcare solutions.
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Here are 1-3 brief analogies for Cencora:
- Sysco for pharmaceuticals.
- The Amazon for prescription drug distribution to hospitals and pharmacies.
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- Pharmaceutical Distribution: Cencora distributes a wide range of pharmaceuticals, over-the-counter products, and healthcare supplies to hospitals, pharmacies, and other healthcare providers in the U.S. and internationally.
- Specialty Pharmaceutical Distribution: The company distributes plasma, blood products, injectable pharmaceuticals, vaccines, and other specialty products to physicians and healthcare providers specializing in various disease states.
- Animal Health Product Distribution: Cencora distributes pharmaceuticals, vaccines, diagnostics, and micro feed ingredients to the companion animal and production animal markets.
- Pharmacy Management & Consulting Services: Cencora offers pharmacy management, staffing, and other consulting services to healthcare providers.
- Supply Management Software: The company provides supply management software solutions to retail and institutional healthcare providers.
- Healthcare Packaging Solutions: Cencora offers packaging solutions for various institutional and retail healthcare providers.
- Biopharmaceutical Support Services: The company provides clinical trial support, product post-approval, and commercialization support services for biotechnology and pharmaceutical manufacturers.
- Data & Research Services: Cencora offers data analytics, outcomes research, and additional services to biotechnology and pharmaceutical manufacturers.
- Sales Force Services: The company provides sales force services to pharmaceutical manufacturers.
- Biopharmaceutical Logistics Services: Cencora offers specialty transportation and logistics services tailored for the biopharmaceutical industry.
- Global Commercialization Services: The company provides global commercialization services for pharmaceutical and healthcare products.
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Cencora (COR) primarily sells to other companies and organizations within the healthcare sector, rather than directly to individuals. Based on the provided description, its major customers fall into the following categories:
- Healthcare Providers and Facilities: This broad category includes acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, physicians specializing in various disease states (such as oncology), dialysis clinics, and other health centers.
- Pharmaceutical and Biotechnology Manufacturers: Cencora provides various services to biotechnology and pharmaceutical manufacturers, including clinical trial support, product post-approval and commercialization support, data analytics, outcomes research, and sales force services. It also offers specialty transportation and logistics services for the biopharmaceutical industry.
- Animal Health Market: Cencora distributes pharmaceuticals, vaccines, parasiticides, diagnostics, and other products to customers within the companion animal and production animal markets (e.g., veterinary practices, agricultural businesses).
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Robert P. Mauch, President and Chief Executive Officer
Robert P. Mauch began his more than 30-year career in pharmaceutical care as the founder of Xcenda (formerly Applied Health Outcomes), which provides health economics, strategic, and reimbursement consulting to pharmaceutical companies. He joined Cencora (formerly AmerisourceBergen) in 2007 when the company acquired Xcenda. Mauch transitioned into the role of President and Chief Executive Officer in October 2024. Prior to this, he served as Executive Vice President and Chief Operating Officer, and held various other leadership positions within the company, driving its transformation into a global provider of pharmaceutical-centered healthcare solutions.
James F. Cleary, Executive Vice President and Chief Financial Officer
James F. Cleary is Executive Vice President and Chief Financial Officer for Cencora. He joined Cencora (then AmerisourceBergen) in March 2015. Before becoming CFO in November 2018, he served as Group President, Global Commercialization Services & Animal Health. Cleary previously served as President and Chief Executive Officer of MWI Veterinary Supply, Inc. for 10 years, a company that was acquired by AmerisourceBergen in 2015. He also held management roles at Agri Beef Co. and Morrison Knudsen Corporation.
Elizabeth Campbell, Executive Vice President and Chief Legal Officer
Elizabeth Campbell is the Executive Vice President and Chief Legal Officer for Cencora, Inc. She joined the company (formerly AmerisourceBergen) in 2010 and has over 20 years of experience as a lawyer. Campbell has served in various roles with increasing responsibility, including Deputy General Counsel and Senior Vice President, overseeing legal teams for all businesses and corporate functions. Prior to joining Cencora, she worked in private practice at a large law firm.
Silvana Battaglia, Executive Vice President and Chief Human Resources Officer
Silvana Battaglia is Executive Vice President and Chief Human Resources Officer for Cencora. Before joining Cencora (formerly AmerisourceBergen) in 2019, she held senior human resources leadership roles at Aramark, where she was responsible for human capital strategy for their global workforce. Battaglia also held senior leadership positions at Day & Zimmermann and Merck. She currently serves as an independent member of the board of directors for agilon health.
Francois Mandeville, Executive Vice President, Strategy and M&A
Francois Mandeville was appointed Executive Vice President, Strategy and M&A for Cencora in November 2024. In this role, he is responsible for overseeing Cencora's mergers and acquisitions and strategy execution. Mandeville most recently served as Chief Development Officer at Johnson Controls. Prior to that, he was Senior Vice President, Strategy & Business Development at Danaher Corporation, where he was instrumental in creating strategies that significantly grew the business.
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Cencora (symbol: COR) faces several key risks inherent to its operations as a major pharmaceutical distributor:
- Regulatory and Legal Risks: Cencora operates in a highly regulated industry and is exposed to ongoing legal proceedings, including significant financial settlements related to opioid litigation. The company also faces the possibility of new regulatory challenges and the need to comply with evolving data privacy regulations. Failure to navigate these issues effectively could result in substantial financial penalties, operational restrictions, and damage to its reputation.
- Cyberattacks and Data Breaches: Cencora is a target for cybercriminals due to the sensitive personal and health information it handles. The company experienced a significant cyberattack in February 2024, which resulted in unauthorized access to its information systems and the theft of personal data, including health diagnoses and prescriptions of hundreds of thousands of individuals. Such breaches can lead to substantial financial consequences and a loss of trust among customers and patients.
- Supply Chain Disruptions and Geopolitical Risks: As a global distributor of pharmaceutical products, Cencora is susceptible to events beyond its control, such as public health crises, natural disasters, and geopolitical disruptions. These challenges can significantly disrupt operations, impair supply chains, and increase costs, leading to unpredictable financial impacts. Additionally, Cencora's international operations expose it to foreign currency exchange risks and geopolitical uncertainties, which can affect its profitability and strategic objectives.
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Cencora (symbol: COR) operates in several addressable markets related to pharmaceutical distribution and healthcare services. Here are the estimated market sizes for its main products and services:
-
Pharmaceutical Wholesale and Distribution:
- The global pharmaceutical wholesale and distribution market was estimated at approximately USD 1.2 trillion in 2023 and is projected to reach USD 2.1 trillion by 2032, growing at a Compound Annual Growth Rate (CAGR) of approximately 6.1%. Another estimate projects the global market to reach approximately USD 1.5 trillion by 2033, with a CAGR of 6.2% from 2025 to 2033.
- In the U.S., the pharmaceutical market size is valued at USD 634.34 billion in 2024 and is predicted to attain around USD 1,107.4 billion by 2034, expanding at a CAGR of 5.73% from 2025 to 2034. Cencora, along with two other major players, collectively supplies over 90% of the U.S. pharmaceutical distribution market.
- The European pharmaceutical market was valued at USD 411.94 billion in 2024 and is estimated to grow to USD 728.20 billion by 2032, exhibiting a CAGR of 7.5% during the forecast period. Another report values the Europe pharmaceutical market at USD 577.59 billion in 2025, anticipated to grow to USD 1032.76 billion by 2034, at a CAGR of 6.67%.
-
Specialty Pharmaceutical Distribution and Logistics:
- Specialty pharmaceuticals are expected to account for 70% of new medicines launched through 2027. Additionally, half of all products launched globally through 2027 are expected to require cold chain storage. In the U.S., specialty drugs account for over 50% of total drug spending.
- The U.S. pharmaceutical logistics market, which includes specialty transportation, was estimated at USD 26.5 billion in 2023 and is projected to reach USD 45.22 billion by 2030, growing at a CAGR of 8.1% from 2024 to 2030.
- The Europe pharmaceutical logistics market is estimated at USD 90.30 billion in 2025 and is expected to reach USD 109.44 billion by 2030, growing at a CAGR of 3.92%.
-
Clinical Trial Support Services:
- The global clinical trials support services market size was valued at USD 24.84 billion in 2024 and is poised to grow to USD 49.66 billion by 2033, at a CAGR of 8% during the forecast period (2026–2033). Another estimate places the global market size at USD 25.62 billion in 2025, projected to reach USD 47.00 billion by 2033, with a CAGR of 7.93% from 2026 to 2033.
- North America held the largest share of the global clinical trials support services market, with more than 40% of the global revenue and a market size of USD 9805.80 million in 2025, projected to grow at a CAGR of 6.2% from 2025 to 2033.
-
Data Analytics in Healthcare:
- The global big data analytics in healthcare market size was valued at USD 56.47 billion in 2024, projected to reach approximately USD 67.32 billion by 2025, and anticipated to reach around USD 327.57 billion by 2034, growing at a CAGR of 19.21% from 2025 to 2034.
- North America dominated the global big data analytics in healthcare market with the largest market share of 52% in 2024.
- Animal Health Product Distribution: null
- Pharmacy Management, Staffing, and Consulting Services: null
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Cencora, Inc. (COR) is expected to drive future revenue growth over the next two to three years through several key strategies and market dynamics:
- Leadership and Expansion in Specialty Pharmaceuticals: Cencora's focus on specialty pharmaceuticals, particularly in areas like oncology and retina, is a significant growth driver. This includes the impact of strategic acquisitions such as OneOncology and Retina Consultants of America (RCA), which enhance the company's specialty MSO (Management Services Organization) footprint and clinical research capabilities. The company is also capitalizing on the growth of high-demand products like GLP-1 therapies for diabetes and weight loss.
- Robust Performance in U.S. Healthcare Solutions: The U.S. Healthcare Solutions segment consistently demonstrates strong performance and is projected to continue contributing significantly to overall revenue growth. This growth is driven by overall market expansion and sustained demand for pharmaceutical products within acute care hospitals, retail pharmacies, and other healthcare providers in the United States.
- International Expansion and Global Commercialization Services: Cencora's International Healthcare Solutions segment is poised for continued growth, particularly in Europe. This segment benefits from its international pharmaceutical wholesale operations and its global commercialization services, which support biotechnology and pharmaceutical manufacturers in bringing products to market worldwide.
- Strategic Investments in Distribution Network and Digital Transformation: Cencora is undertaking substantial investments, including a $1 billion commitment through 2030, to strengthen its U.S. distribution network. These investments aim to expand capacity, increase resilience, and enhance cold chain storage capabilities to support the growing volume of specialty pharmaceuticals. Furthermore, the company emphasizes digital transformation and the development of customer-centric solutions to improve operational efficiency and expand its value proposition.
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Share Repurchases
- Cencora repurchased approximately $50 million of its common stock from Walgreens Boots Alliance in February 2025.
- In May 2024, Cencora repurchased approximately $400 million of its common stock from Walgreens Boots Alliance in a private transaction, contributing to roughly $550 million in total share repurchases during that month.
- In November 2022, AmerisourceBergen (now Cencora) announced its intent to repurchase approximately $500 million in shares from Walgreens Boots Alliance concurrently with a secondary public offering.
Share Issuance
- Walgreens Boots Alliance conducted secondary public offerings of Cencora (then AmerisourceBergen) common stock, including 10.5 million shares in August 2023 and 10 million shares in November 2022, from which Cencora did not receive proceeds.
- Cencora's shares outstanding have generally declined over the past three fiscal years, with decreases of 3.13% in 2023, 2.11% in 2024, and 2.53% in 2025.
Outbound Investments
- Cencora acquired the majority of outstanding equity interests it did not already own in OneOncology, a physician-led oncology platform, for approximately $4.6 billion in cash in February 2026.
- In January 2025, Cencora completed the acquisition of approximately 85% interest in Retina Consultants of America (RCA) with a cash outlay of $4.4 billion.
- In June 2021, the company acquired Alliance Healthcare from Walgreens Boots Alliance for $6.602 billion in cash.
Capital Expenditures
- Capital expenditures were approximately $668 million in fiscal year 2025.
- The company anticipates capital expenditures of approximately $900 million for fiscal year 2025.
- Primary focuses for capital expenditures include investments in advanced information systems, automated warehouse technology for secure supply chains, data analytics, specialty pharmacy platforms, and cold-chain logistics.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 265.52 |
| Mkt Cap | 48.0 |
| Rev LTM | 132,060 |
| Op Inc LTM | 3,258 |
| FCF LTM | 1,898 |
| FCF 3Y Avg | 2,235 |
| CFO LTM | 2,533 |
| CFO 3Y Avg | 2,838 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.2% |
| Rev Chg 3Y Avg | 8.6% |
| Rev Chg Q | 6.2% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Inc Chg LTM | 23.1% |
| Op Inc Chg 3Y Avg | 14.3% |
| Op Mgn LTM | 3.6% |
| Op Mgn 3Y Avg | 3.5% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 3.2% |
| CFO/Rev 3Y Avg | 3.3% |
| FCF/Rev LTM | 2.3% |
| FCF/Rev 3Y Avg | 2.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| U.S. Healthcare Solutions | 290,982 | 265,339 | 234,759 | 212,100 | 202,462 |
| International Healthcare Solutions | 30,366 | 28,628 | 27,419 | 26,492 | 11,530 |
| Intersegment eliminations | -16 | -8 | -4 | -5 | -2 |
| Total | 321,333 | 293,959 | 262,173 | 238,587 | 213,989 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| U.S. Healthcare Solutions | 3,575 | 2,935 | 2,597 | 2,457 | 2,258 |
| International Healthcare Solutions | 648 | 713 | 693 | 706 | 390 |
| Gains from antitrust litigation settlements | 236 | 171 | 239 | 2 | 169 |
| Last In First Out (LIFO) (expense) credit | 77 | 52 | -205 | -67 | 203 |
| Turkey highly inflationary impact | -50 | -54 | -87 | -40 | |
| Litigation and opioid-related credit (expenses) | -61 | -227 | 25 | -123 | -273 |
| Restructuring and other expenses, net | -229 | -234 | -230 | -63 | |
| Acquisition-related deal and integration expenses | -291 | -103 | |||
| Acquisition-related intangibles amortization | -553 | -660 | -551 | -305 | -176 |
| Goodwill impairment | -724 | -418 | 0 | -76 | -6 |
| Acquisition, integration, and restructuring expenses | -140 | -120 | -199 | ||
| Impairment of assets | 0 | -5 | -11 | ||
| Total | 2,629 | 2,175 | 2,341 | 2,366 | 2,354 |
| $ Mil | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|
| Pharmaceutical Distribution Services | 33,161 | 31,893 | 29,691 | 28,233 | |
| Other | 6,011 | 5,777 | 5,625 | 5,423 | 5,267 |
| Pharmaceutical Distribution | 22,470 | ||||
| Total | 39,172 | 37,670 | 35,316 | 33,656 | 27,736 |
Price Behavior
Price Behavior
| Market Price | $305.06 | |
| Market Cap ($ Bil) | 59.3 | |
| First Trading Date | 04/04/1995 | |
| Distance from 52W High | -18.3% | |
| 50 Days | 200 Days | |
| DMA Price | $282.03 | $323.57 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 8.2% | -5.7% |
| 3M | 1YR | |
| Volatility | 42.5% | 30.9% |
| Downside Capture | -121.90 | -14.54 |
| Upside Capture | -105.94 | -6.21 |
| Correlation (SPY) | -32.8% | -6.0% |
COR Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.47 | -1.00 | -0.46 | -0.06 | -0.10 | -0.01 |
| Up Beta | -0.47 | -2.48 | -0.62 | -0.59 | -0.31 | 0.01 |
| Down Beta | -0.47 | -0.34 | -0.47 | 0.09 | -0.26 | -0.16 |
| Up Capture | -19% | -89% | -36% | -11% | 0% | 3% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 12 | 23 | 33 | 63 | 133 | 411 |
| Down Capture | -74% | -79% | -38% | 34% | 11% | -3% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 9 | 18 | 30 | 62 | 119 | 339 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COR | |
|---|---|---|---|---|
| COR | 4.9% | 30.8% | 0.18 | - |
| Sector ETF (XLV) | 22.6% | 15.8% | 1.10 | 28.8% |
| Equity (SPY) | 18.5% | 12.7% | 1.06 | -6.5% |
| Gold (GLD) | 17.6% | 28.1% | 0.57 | -5.9% |
| Commodities (DBC) | 35.2% | 19.1% | 1.45 | 2.4% |
| Real Estate (VNQ) | 11.6% | 13.9% | 0.55 | 14.1% |
| Bitcoin (BTCUSD) | -45.1% | 42.9% | -1.28 | -7.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COR | |
|---|---|---|---|---|
| COR | 23.3% | 22.5% | 0.88 | - |
| Sector ETF (XLV) | 6.3% | 15.0% | 0.24 | 41.0% |
| Equity (SPY) | 12.6% | 17.1% | 0.57 | 18.4% |
| Gold (GLD) | 16.8% | 18.4% | 0.74 | 1.2% |
| Commodities (DBC) | 9.8% | 19.5% | 0.39 | 5.4% |
| Real Estate (VNQ) | 2.6% | 18.9% | 0.03 | 21.6% |
| Bitcoin (BTCUSD) | 15.8% | 53.4% | 0.47 | 2.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with COR | |
|---|---|---|---|---|
| COR | 15.3% | 27.4% | 0.55 | - |
| Sector ETF (XLV) | 10.0% | 16.6% | 0.49 | 54.1% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 39.1% |
| Gold (GLD) | 11.2% | 16.1% | 0.57 | -0.1% |
| Commodities (DBC) | 7.4% | 17.9% | 0.33 | 11.7% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 34.5% |
| Bitcoin (BTCUSD) | 58.7% | 66.2% | 0.99 | 4.5% |
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Returns Analyses
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -17.4% | -14.7% | -11.4% |
| 2/4/2026 | -8.8% | -0.5% | -0.5% |
| 11/5/2025 | 2.7% | 6.0% | -1.3% |
| 8/6/2025 | -2.9% | -1.1% | 0.3% |
| 5/7/2025 | 4.7% | -4.1% | -0.6% |
| 2/5/2025 | 0.7% | -1.9% | 1.1% |
| 11/6/2024 | 4.9% | 6.3% | 4.6% |
| 7/31/2024 | 3.0% | 3.8% | 2.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 10 |
| # Negative | 10 | 12 | 14 |
| Median Positive | 2.7% | 3.6% | 3.8% |
| Median Negative | -3.5% | -3.5% | -3.3% |
| Max Positive | 6.1% | 6.6% | 13.1% |
| Max Negative | -17.4% | -14.7% | -11.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -17.4% | -14.7% | -11.4% |
| 2/4/2026 | -8.8% | -0.5% | -0.5% |
| 11/5/2025 | 2.7% | 6.0% | -1.3% |
| 8/6/2025 | -2.9% | -1.1% | 0.3% |
| 5/7/2025 | 4.7% | -4.1% | -0.6% |
| 2/5/2025 | 0.7% | -1.9% | 1.1% |
| 11/6/2024 | 4.9% | 6.3% | 4.6% |
| 7/31/2024 | 3.0% | 3.8% | 2.6% |
| 5/1/2024 | -4.1% | -5.1% | -7.5% |
| 1/31/2024 | 5.5% | 6.6% | 7.1% |
| 11/2/2023 | 2.6% | 5.1% | 9.3% |
| 8/2/2023 | 1.2% | -2.0% | -5.1% |
| 5/2/2023 | 1.4% | 0.9% | 2.3% |
| 2/1/2023 | -4.7% | -7.2% | -8.0% |
| 11/3/2022 | 2.0% | 2.2% | 13.1% |
| 8/3/2022 | -2.7% | 1.3% | 2.9% |
| 5/4/2022 | 4.0% | 5.9% | -1.4% |
| 2/2/2022 | -1.1% | 3.3% | 6.0% |
| 11/4/2021 | -1.2% | -2.0% | -8.7% |
| 8/4/2021 | 1.5% | -3.8% | -0.5% |
| 5/5/2021 | -5.6% | -4.6% | -6.8% |
| 2/4/2021 | 6.1% | 0.7% | -0.3% |
| 11/5/2020 | 0.4% | 2.2% | -1.5% |
| 8/5/2020 | -1.1% | -3.2% | -5.7% |
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 10 |
| # Negative | 10 | 12 | 14 |
| Median Positive | 2.7% | 3.6% | 3.8% |
| Median Negative | -3.5% | -3.5% | -3.3% |
| Max Positive | 6.1% | 6.6% | 13.1% |
| Max Negative | -17.4% | -14.7% | -11.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/04/2026 | 10-Q |
| 09/30/2025 | 11/25/2025 | 10-K |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/05/2025 | 10-Q |
| 09/30/2024 | 11/26/2024 | 10-K |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 01/31/2024 | 10-Q |
| 09/30/2023 | 11/21/2023 | 10-K |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/01/2023 | 10-Q |
| 09/30/2022 | 11/22/2022 | 10-K |
| 06/30/2022 | 08/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/04/2026 | 10-Q |
| 09/30/2025 | 11/25/2025 | 10-K |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/05/2025 | 10-Q |
| 09/30/2024 | 11/26/2024 | 10-K |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 01/31/2024 | 10-Q |
| 09/30/2023 | 11/21/2023 | 10-K |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/01/2023 | 10-Q |
| 09/30/2022 | 11/22/2022 | 10-K |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/04/2022 | 10-Q |
| 12/31/2021 | 02/02/2022 | 10-Q |
| 09/30/2021 | 11/23/2021 | 10-K |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/04/2021 | 10-Q |
| 09/30/2020 | 11/19/2020 | 10-K |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 01/30/2020 | 10-Q |
| 09/30/2019 | 11/19/2019 | 10-K |
| 06/30/2019 | 08/01/2019 | 10-Q |
Recent Forward Guidance
Updated 7/8/2026Latest: Q2 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | 4.0% | 5.0% | -3.0% | Lowered | Guidance: 8.0% for 2026 | ||
| 2026 U.S. Healthcare Solutions Segment Revenue Growth | 4.0% | 5.0% | |||||
| 2026 International Healthcare Solutions Segment Revenue Growth | 8.0% | 9.0% | |||||
| 2026 Other Revenue Growth | 1.0% | 3.0% | |||||
| 2026 Adjusted Operating Income Growth | 12.0% | 13.0% | 0.5% | Raised | Guidance: 12.5% for 2026 | ||
| 2026 U.S. Healthcare Solutions Segment Adjusted Operating Income Growth | 14.0% | 15.0% | |||||
| 2026 International Healthcare Solutions Segment Adjusted Operating Income Growth | 5.0% | 6.5% | |||||
| 2026 Adjusted Diluted EPS | 17.6 | 17.8 | 1.0% | Raised | Guidance: 17.6 for 2026 | ||
| 2026 Net Interest Expense | 485.00 Mil | -1.0% | Lowered | Guidance: 490.00 Mil for 2026 | |||
| 2026 Adjusted Effective Tax Rate | 20.0% | 0 | Affirmed | Guidance: 20.0% for 2026 | |||
| 2026 Adjusted Free Cash Flow | 3.00 Bil | 0 | Affirmed | Guidance: 3.00 Bil for 2026 | |||
| 2026 Capital Expenditures | 900.00 Mil | 0 | Affirmed | Guidance: 900.00 Mil for 2026 | |||
Prior: Q1 2026 Earnings Reported 2/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | 7.0% | 8.0% | 9.0% | 2.0% | Raised | Guidance: 6.0% for 2026 | |
| 2026 Adjusted Operating Income Growth | 11.5% | 12.5% | 13.5% | 3.5% | Raised | Guidance: 9.0% for 2026 | |
| 2026 Adjusted Diluted EPS | 17.4 | 17.6 | 17.8 | 0.0% | Affirmed | Guidance: 17.6 for 2026 | |
| 2026 Net Interest Expense | 480.00 Mil | 490.00 Mil | 500.00 Mil | ||||
| 2026 Adjusted Effective Tax Rate | 20.0% | ||||||
| 2026 Diluted Weighted Average Shares Outstanding | 195.50 Mil | ||||||
| 2026 Adjusted Free Cash Flow | 3.00 Bil | ||||||
| 2026 Capital Expenditures | 900.00 Mil | ||||||
Q4 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | 5.0% | 6.0% | -33.3% | -3.0% | Lower New | Actual: 9.0% for 2025 | |
| 2026 Adjusted Operating Income Growth | 8.0% | 9.0% | -41.9% | -6.5% | Lower New | Actual: 15.5% for 2025 | |
| 2026 Adjusted Diluted Earnings Per Share | 17.4 | 17.6 | 10.5% | Higher New | Actual: 15.9 for 2025 | ||
| 2026 Adjusted Operating Income Growth (Long-term) | 6.0% | 7.5% | |||||
| 2026 Adjusted Diluted Earnings Per Share Growth (Long-term) | 9.0% | 11.0% | |||||
Insider Activity
Updated 7/7/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tyler, Lauren M | Direct | Buy | 6242026 | 270.23 | 550 | 148,626 | 1,177,933 | Form | |
| 2 | Durcan, Dermot Mark | Direct | Buy | 6222026 | 274.19 | 4,000 | 1,096,760 | 8,710,194 | Form | |
| 3 | Durcan, Dermot Mark | Direct | Buy | 5282026 | 266.26 | 4,000 | 1,065,040 | 7,393,241 | Form | |
| 4 | Mauch, Robert P | President & CEO | Direct | Sell | 2242026 | 358.94 | 3,762 | 1,350,332 | 23,472,163 | Form |
| 5 | Mauch, Robert P | President & CEO | Direct | Sell | 2202026 | 359.46 | 1,333 | 479,160 | 23,506,168 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Tyler, Lauren M | Direct | Buy | 6242026 | 270.23 | 550 | 148,626 | 1,177,933 | Form | |
| 2 | Durcan, Dermot Mark | Direct | Buy | 6222026 | 274.19 | 4,000 | 1,096,760 | 8,710,194 | Form | |
| 3 | Durcan, Dermot Mark | Direct | Buy | 5282026 | 266.26 | 4,000 | 1,065,040 | 7,393,241 | Form | |
| 4 | Mauch, Robert P | President & CEO | Direct | Sell | 2242026 | 358.94 | 3,762 | 1,350,332 | 23,472,163 | Form |
| 5 | Mauch, Robert P | President & CEO | Direct | Sell | 2202026 | 359.46 | 1,333 | 479,160 | 23,506,168 | Form |
| 6 | Mauch, Robert P | President & CEO | Direct | Sell | 1222026 | 354.73 | 5,096 | 1,807,704 | 23,669,714 | Form |
| 7 | Battaglia, Silvana | Executive Vice President | Direct | Sell | 12222025 | 345.00 | 1,677 | 578,565 | 6,484,780 | Form |
| 8 | Campbell, Elizabeth S | Executive Vice President | Direct | Sell | 12222025 | 342.10 | 3,351 | 1,146,377 | 8,173,159 | Form |
| 9 | Mauch, Robert P | President & CEO | Direct | Sell | 12222025 | 343.45 | 5,096 | 1,750,221 | 23,374,864 | Form |
| 10 | Krikorian, Lazarus | SVP & Chief Accounting Officer | Direct | Sell | 12192025 | 343.24 | 4,031 | 1,383,580 | 5,887,853 | Form |
| 11 | Mauch, Robert P | President & CEO | Direct | Sell | 11192025 | 366.64 | 5,096 | 1,868,397 | 24,105,113 | Form |
| 12 | Mauch, Robert P | President & CEO | Direct | Sell | 10212025 | 326.80 | 5,097 | 1,665,700 | 12,398,792 | Form |
| 13 | Campbell, Elizabeth S | Executive Vice President | Direct | Sell | 10032025 | 313.28 | 1,886 | 590,846 | 4,017,547 | Form |
| 14 | Mauch, Robert P | President & CEO | Direct | Sell | 9222025 | 290.00 | 5,097 | 1,478,130 | 11,389,460 | Form |
| 15 | Collis, Steven H | Executive Chairman | Direct | Sell | 9182025 | 289.86 | 31,350 | 9,087,142 | 88,672,151 | Form |
| 16 | Collis, Steven H | Executive Chairman | Direct | Sell | 8202025 | 289.98 | 14,579 | 4,227,618 | 89,288,515 | Form |
| 17 | Mauch, Robert P | President & CEO | Direct | Sell | 8202025 | 293.53 | 4,968 | 1,458,257 | 11,919,666 | Form |
| 18 | Collis, Steven H | Executive Chairman | Direct | Sell | 7232025 | 292.67 | 14,578 | 4,266,543 | 90,702,140 | Form |
| 19 | Mauch, Robert P | President & CEO | Direct | Sell | 7222025 | 294.11 | 4,968 | 1,461,138 | 12,455,853 | Form |
Investor Activity (13F)
Updated Jul 24, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Cambridge Financial Group, Inc. | $11.1 Mil | 4.2% | 33 | Hold | 13F |
| Atle Fund Management AB | $6.6 Mil | 2.1% | 39 | Hold | 13F |
| Schwerin Boyle Capital Management Inc | $7.4 Mil | 0.9% | 47 | TRIM -13.5% | 13F |
| Black Creek Investment Management Inc. | $15.8 Mil | 0.8% | 25 | ADD +7.9% | 13F |
| Woodbridge Co Ltd | $5.5 Mil | 0.0% | 46 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Black Creek Investment Management Inc. | $15.8 Mil | 0.8% | 25 | ADD +7.9% | 13F |
| Cambridge Financial Group, Inc. | $11.1 Mil | 4.2% | 33 | Hold | 13F |
| Schwerin Boyle Capital Management Inc | $7.4 Mil | 0.9% | 47 | TRIM -13.5% | 13F |
| Atle Fund Management AB | $6.6 Mil | 2.1% | 39 | Hold | 13F |
| Woodbridge Co Ltd | $5.5 Mil | 0.0% | 46 | New | 13F |
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