Cencora, Inc. stock research
FY2025 Q4
Cencora (COR) Gross Margin — Quarter Ended Sep 30, 2025
Revenue and gross profit increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved from the year-ago period but weakened slightly from the preceding quarter.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q4
Revenue and gross profit increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved from the year-ago period but weakened slightly from the preceding quarter.
- Revenue increased more than cost of revenue compared to the same quarter last year, resulting in an improved gross margin.
- Compared to the immediately preceding quarter, gross margin was lower despite higher revenue and gross profit, as cost of revenue increased proportionally more. Compared to the same quarter one year earlier, all metrics were higher and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
3.5%
Gross profit
$3.0B
Revenue
$83.7B
Cost of revenue
$80.8B
Quarter-over-quarter change
-0.1 pts
Year-over-year change
+0.4 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Dec 31, 2024 | $81.5B | $2.6B | $78.9B | 3.1% |
| Mar 31, 2025 | $75.5B | $3.1B | $72.4B | 4.1% |
| Jun 30, 2025 | $80.7B | $2.9B | $77.8B | 3.6% |
| Sep 30, 2025 | $83.7B | $3.0B | $80.8B | 3.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
-0.1 pts
Year-over-year change
Sep 30, 2024
+0.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Revenue increased more than cost of revenue compared to the same quarter last year, resulting in an improved gross margin.
Compared to the immediately preceding quarter, gross margin was lower despite higher revenue and gross profit, as cost of revenue increased proportionally more. Compared to the same quarter one year earlier, all metrics were higher and gross margin improved.
Monitor the relationship between cost of revenue and revenue, as the sequential quarter showed a slight weakening in gross margin.