Cencora or Cardinal Health: Which Stock Has More Upside?
Even as Cardinal Health surged 15% during the past Day, its peer Cencora may be a better choice. Consistently evaluating alternatives is core to sound investment approach. Cencora (COR) stock offers superior revenue growth across key periods, better profitability, and relatively lower valuation vs Cardinal Health (CAH) stock, suggesting you may be better off investing in COR
- COR’s quarterly revenue growth was 8.7%, vs. CAH’s 0.5%.
- In addition, its Last 12 Months revenue growth came in at 11.6%, ahead of CAH’s -1.9%.
- COR leads on profitability over both periods – LTM margin of 1.2% and 3-year average of 1.1%.
A single stock can be risky, but there is a huge value to a broader, diversified approach. Should you buy one stock you like or build a portfolio designed to win across cycles? Our numbers show that the Trefis High Quality Portfolio has turned stock-picking uncertainty into market-beating consistency. This portfolio is incorporated in the asset allocation strategy of Empirical Asset Management — a Boston area wealth manager and Trefis partner — whose asset allocation framework yielded positive returns during the 2008-09 period when the S&P lost more than 40%.
CAH operates in pharmaceutical distribution and medical segments, manufacturing and distributing medical, surgical, laboratory products, and branded, generic, specialty, and OTC pharmaceuticals. COR sources and distributes pharmaceutical products, headquartered in Conshohocken, Pennsylvania, established in 2001 and rebranded in August 2023.
Valuation & Performance Overview
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| CAH | COR | Preferred | |
|---|---|---|---|
| Valuation | |||
| P/EBIT Ratio | 19.5 | 17.8 | COR |
| Revenue Growth | |||
| Last Quarter | 0.5% | 8.7% | COR |
| Last 12 Months | -1.9% | 11.6% | COR |
| Last 3 Year Average | 7.3% | 10.3% | COR |
| Operating Margins | |||
| Last 12 Months | 1.0% | 1.2% | COR |
| Last 3 Year Average | 1.0% | 1.1% | COR |
| Momentum | |||
| Last 3 Year Return | 160.7% | 121.2% | CAH |
Note: For “Last 3 Year Return” metric, preferred stock is one with higher returns unless the returns are too high (>300%) which creates risk of sell off.
See more revenue details: CAH Revenue Comparison | COR Revenue Comparison
See more margin details: CAH Operating Income Comparison | COR Operating Income Comparison
But do these numbers tell the full story? Read Buy or Sell COR Stock to see if Cencora’s edge holds up under the hood or if Cardinal Health still has cards to play (see Buy or Sell CAH Stock).
Historical Market Performance
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | Avg | Best | |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| CAH Return | 10% | -0% | 54% | 34% | 19% | 63% | 275% | ||
| COR Return | 17% | 38% | 27% | 25% | 10% | 53% | 322% | <=== | |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 110% | ||
| Monthly Win Rates [3] | |||||||||
| CAH Win Rate | 50% | 42% | 67% | 58% | 50% | 78% | 57% | ||
| COR Win Rate | 50% | 58% | 67% | 75% | 58% | 67% | 62% | ||
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | 64% | <=== | |
| Max Drawdowns [4] | |||||||||
| CAH Max Drawdown | -19% | -12% | -2% | -10% | -6% | 0% | -8% | ||
| COR Max Drawdown | -13% | -1% | -2% | -10% | 0% | 0% | -4% | <=== | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | -12% | ||
[1] Cumulative total returns since the beginning of 2020
[2] 2025 data is for the year up to 10/30/2025 (YTD)
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.