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 63,158 - -
Change - 13.01% 28.88% 22.05% 37.34% 4.23% - -
Enterprise Value (EV) 1 28,957 30,363 38,343 45,373 63,897 70,842 72,595 74,049
Change - 4.86% 26.28% 18.33% 40.83% 10.87% 2.47% 2%
P/E 16.2x 16.8x 21.1x 29.9x 39.3x 18.1x 19.8x 17.5x
PBR 111x 401x 54.2x 67.9x 34.7x 17.5x 16.4x 19.6x
PEG - 1.91x 3.46x -2.6x 6.88x 0x -2.36x 1.4x
Capitalization / Revenue 0.12x 0.12x 0.14x 0.15x 0.19x 0.19x 0.18x 0.17x
EV / Revenue 0.14x 0.13x 0.15x 0.15x 0.2x 0.21x 0.21x 0.2x
EV / EBITDA 9.73x 8.55x 10.4x 11.1x 13.5x 13.2x 12.8x 12x
EV / EBIT 10.9x 9.6x 11.7x 12.4x 15.1x 14.8x 14.2x 13.5x
EV / FCF 13x 13.8x 11.1x 15.1x 19.9x 23.2x 19.7x 18.3x
FCF Yield 7.7% 7.27% 9.01% 6.61% 5.02% 4.3% 5.08% 5.46%
Dividend per Share 2 1.78 1.84 1.94 2.04 2.2 2.387 2.454 2.561
Rate of return 1.49% 1.36% 1.08% 0.91% 0.7% 0.72% 0.74% 0.77%
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% 13.1% 14.7% 13.6%
Net sales 1 213,989 238,587 262,173 293,959 321,333 337,169 353,295 371,999
EBITDA 1 2,977 3,553 3,702 4,080 4,721 5,369 5,682 6,176
EBIT 1 2,648 3,163 3,289 3,648 4,223 4,796 5,097 5,473
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 7,684 9,437 10,891
Reference price 2 119.45 135.33 179.97 225.08 312.53 330.97 330.97 330.97
Nbr of stocks (in thousands) 207,787 207,258 200,854 196,008 193,878 190,827 - -
Announcement Date 11/4/21 A 11/3/22 A 11/2/23 A 11/6/24 A 11/5/25 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.72x0.21x12.93x0.74% 63.16B
31.66x4.27x16.42x2.33% 188B
20.41x3.54x12.48x3.28% 118B
30.15x7.44x19.2x1.32% 52.01B
36.25x3.48x11.93x2.09% 50.97B
36.5x6.42x20.17x-.--% 34.02B
45.98x1.3x12.01x0.17% 30.8B
39.78x6.96x24.99x0.26% 23.83B
19.43x3x10.94x1.48% 23.45B
25.05x3.77x13.26x1.14% 22.39B
Average 30.29x 4.04x 15.43x 1.28% 60.69B
Weighted average by Cap. 28.88x 3.92x 15.15x 1.84%

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

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