Cencora (COR) 10-K Summary — Year Ended Sep 30, 2025
Cencora is a global pharmaceutical sourcing and distribution services company. For the fiscal year, revenue grew and the company reported operating income, net income, and operating cash flow.
Key takeaway
Year ended Sep 30, 2025 · FY2025 10-K
Cencora is a global pharmaceutical sourcing and distribution services company. For the fiscal year, revenue grew and the company reported operating income, net income, and operating cash flow.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$321.3B
Revenue reported for the fiscal year.
Operating income
$2.6B
Income from operations reported for the year.
Net income
$1.6B
Net income reported for the year.
Operating cash flow
$3.9B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $238.6B | +11.5% |
| Sep 30, 2023 | $262.2B | +9.9% |
| Sep 30, 2024 | $294B | +12.1% |
| Sep 30, 2025 | $321.3B | +9.3% |
Business overview
Cencora is one of the largest global pharmaceutical sourcing and distribution services companies, serving healthcare providers and manufacturers in the United States and select global markets. It distributes brand-name, specialty, and generic pharmaceuticals, over-the-counter products, and home healthcare supplies, and offers related services such as data analytics, consulting, logistics, and pharmacy solutions.
Financial performance
Revenue increased compared to the prior year. The company reported operating income and net income for the period. Operating cash flow was also generated.
Material risks
The filing includes a cautionary note regarding forward-looking statements and references risk factors, but the provided excerpts do not contain specific risk descriptions. No material risks can be identified from the supplied context.
Liquidity and capital
Operating results have generated cash flows, which together with debt agreements and credit terms, have provided sufficient capital to fund working capital, capital expenditures, acquisitions, debt repayment, interest, dividends, and share repurchases. Future cash flows from operations and borrowings are expected to be sufficient, including for opioid litigation payments over the next several years.
What to watch
Readers should monitor the company's progress on opioid litigation payments, which are expected to be made over the next several years.