Cencora, Inc. stock research
FY2026 Q1
Cencora (COR) Gross Margin — Quarter Ended Dec 31, 2025
Revenue and cost of revenue both increased from the preceding quarter and from a year earlier, with gross profit expanding as well. The gross margin improved compared with both periods, reflecting that gross profit grew faster than revenue.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2026 Q1
Revenue and cost of revenue both increased from the preceding quarter and from a year earlier, with gross profit expanding as well. The gross margin improved compared with both periods, reflecting that gross profit grew faster than revenue.
- Gross profit increased more rapidly than cost of revenue, driving the gross margin higher. This relationship was consistent when compared with both the prior quarter and the year-ago period.
- Gross margin strengthened sequentially from the prior quarter and improved markedly from the same quarter one year earlier. The higher gross profit relative to revenue was the primary observable difference across both comparisons.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
3.6%
Gross profit
$3.1B
Revenue
$85.9B
Cost of revenue
$82.9B
Quarter-over-quarter change
+0.0 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 |
|---|---|---|---|---|
| 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% |
| Dec 31, 2025 | $85.9B | $3.1B | $82.9B | 3.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
+0.0 pts
Year-over-year change
Dec 31, 2024
+0.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit increased more rapidly than cost of revenue, driving the gross margin higher. This relationship was consistent when compared with both the prior quarter and the year-ago period.
Gross margin strengthened sequentially from the prior quarter and improved markedly from the same quarter one year earlier. The higher gross profit relative to revenue was the primary observable difference across both comparisons.
Monitor whether the gross profit growth relative to revenue can be sustained as revenue and cost of revenue continue to increase.