Cencora, Inc. stock research
FY2026 Q2
Cencora (COR) Gross Margin — Quarter Ended Mar 31, 2026
Revenue declined from the preceding quarter but rose compared to the same quarter last year. Gross profit increased from both comparison periods, while cost of revenue fell from the prior quarter but rose year-over-year, leading to a gross margin that improved from both the prior quarter and the year-ago quarter.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q2
Revenue declined from the preceding quarter but rose compared to the same quarter last year. Gross profit increased from both comparison periods, while cost of revenue fell from the prior quarter but rose year-over-year, leading to a gross margin that improved from both the prior quarter and the year-ago quarter.
- Gross profit rose while revenue declined from the prior quarter, indicating a stronger relationship between cost of revenue reduction and gross profit expansion. Compared to the year-ago quarter, both revenue and gross profit increased, with gross profit rising at a faster pace.
- Gross margin improved sequentially from the preceding quarter and also improved compared to the same quarter one year earlier. Revenue was lower than the prior quarter but higher than the year-ago quarter.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
4.6%
Gross profit
$3.6B
Revenue
$78.4B
Cost of revenue
$74.8B
Quarter-over-quarter change
+1.0 pts
Year-over-year change
+0.5 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 |
|---|---|---|---|---|
| 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% |
| Mar 31, 2026 | $78.4B | $3.6B | $74.8B | 4.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+1.0 pts
Year-over-year change
Mar 31, 2025
+0.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit rose while revenue declined from the prior quarter, indicating a stronger relationship between cost of revenue reduction and gross profit expansion. Compared to the year-ago quarter, both revenue and gross profit increased, with gross profit rising at a faster pace.
Gross margin improved sequentially from the preceding quarter and also improved compared to the same quarter one year earlier. Revenue was lower than the prior quarter but higher than the year-ago quarter.
Monitor the relationship between revenue and cost of revenue, as the current quarter's margin improvement occurred despite lower revenue compared to the prior quarter.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Cencora, Inc. (COR) | 4.6% |