Positive context积极背景
Stocks股票 / Health Care / COR
Cencora · Health Care
COR US listed · USD美股 · 美元
Cencora, Inc., formerly known as AmerisourceBergen, is an American drug wholesale and distribution company and a contract research organization, that was formed by the merger of Bergen Brunswig and AmeriSource in 2001. It was renamed to Cencora in 2023.Cencora公司，前身为AmerisourceBergen，是一家美国药品批发和分销公司及合同研究机构，由Bergen Brunswig和AmeriSource于2001年合并而成，2023年更名为Cencora。
Large cap大盘 · $60B
Health Care
Mixed profile混合特征
$306.92
-$2.95 · -0.95%
52w low52周低 $245high高 $376
Neutral — no clear edge中性 — 无明显优势
A cycle low is due in roughly ~0–2 trading days — watch for the turn, don't front-run it.周期低点预计在约 ~0–2 个交易日内出现——等待转向，切勿抢跑。
As of 2026-09-28截至 2026-09-28
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
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Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-09-28
Momentum (RSI 14)动量（RSI 14）
40
Depressed偏低
vs 50-day average相对50日均线
-3.3% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
-3.6% below下方
Long trend down长期向下
Volatility波动率
31th percentile第31百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
next report下次财报 2026-11-0437
Estimates being cut预期下调
Beat in 3 of last 4 quarters近 4 季中 3 季超预期
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 0.8%
Valuation估值
Roughly fair vs sector相对行业估值合理| Multiple指标 | COR | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（历史） | 38.41x | 29.58 | |
| P/B市净率 | 31.29x | 3.30 | |
| P/S市销率 | 0.19x | 3.19 | |
| Earnings yield盈利收益率 | 2.60% | 2.56 | |
| FCF yield自由现金流收益率 | 5.37% | 4.11 | |
| Shareholder yield股东收益率 | 1.46% | 1.87 | |
| EV/EBITDA企业价值/EBITDA | 17.12x | 18.26 | |
| P/FCF市值/自由现金流 | 18.62x | 21.34 |
"Cheaper than" = share of sector peers trading richer on that multiple.「相对便宜」= 行业中该指标估值更高的同行占比。
Financials财务数据
fiscal years财年Revenue营业收入
$321.3B2025
20202025
5-yr growth5年复合增速 11.1%
Earnings per share每股收益
$7.962025
20202025
Free cash flow自由现金流
$3.2B2025
20202025
Gross margin毛利率
3.6%
Operating margin营业利润率
0.8%
Net margin净利率
0.5%
FCF margin自由现金流利润率
1.2%
Balance-sheet quality财务体质 5/9
Bankruptcy risk: safe zone破产风险：安全区
Return on equity股本回报率 81%
Watch关注
Leverage杠杆
Net debt / EBITDA净债务/EBITDA0.90
Current ratio流动比率0.90
Capital allocation资本配置
Buybacks (TTM)回购（TTM）$435.5M
Stock-based comp股权薪酬$148.0M
Share count change (1y)股数变化（1年）+0.3%
Debt coming due到期债务
FY2025 10-KIn the 12-month bucket following fiscal period end 2025-09-30, it reported $115.2M due — about 2% of its disclosed principal.在财年期末 2025-09-30 之后12个月的区间内，已披露到期本金为 $115.2M，约占其披露本金的 2%。
All maturity buckets are measured from fiscal period end 2025-09-30, not from today.所有到期区间均从财年期末 2025-09-30 起算，而非从今天起算。
First 12 months after period end报告期末之后首12个月
$115.2M
Year 2第2年
$24.9M
Year 3第3年
$2.7B
Year 4第4年
$8.7M
Year 5第5年
$1.1B
After year 55年以后
$3.8B
Cash reported at 2025-09-30: $4356138000.截至 2025-09-30 披露的现金：$4356138000。 Operating cash flow exceeded or equaled equipment spending over 2024-10-01 to 2025-09-30; no cash burn to measure.在 2024-10-01 至 2025-09-30 期间，经营现金流不低于设备支出，无可衡量的现金消耗。
Cash reported at 2025-09-30 covers 3781% of issuer-reported principal in the 12-month bucket following that fiscal period end.截至 2025-09-30 披露的现金可覆盖该财年期末之后12个月区间内发行人已披露到期本金的 3781%。
Cash shortfall against that reported principal: $0相对该已披露本金的现金缺口：$0。
Sources and cash-flow calculation来源与现金流计算
Figures are XBRL facts from one filing — no two years are mixed. Filing数据取自同一份文件中的 XBRL 事实，不跨文件拼接。文件
0001140859-25-000131, period ending报告期截至 2025-09-30, unit单位 USD.
Cache acquired缓存获取时间: 2026-09-23T08:00:39.967694+00:00.
6/6 buckets reported.个区间有披露。
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonthsLongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwoLongTermDebtMaturitiesRepaymentsOfPrincipalInYearThreeLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFourLongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveLongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
Annual period年度区间 2024-10-01 — 2025-09-30 · USD · 10-K · 0001140859-25-000131 · Filed提交日期 2025-11-25.
Cache acquired缓存获取时间: 2026-09-23T08:00:39.967694+00:00 · Evaluated as of评估截至 2026-09-28.
- Reported operating cash flow已披露经营活动现金流: $3875120000
- Reported equipment spending (capex outflow)已披露设备支出（资本开支流出）: $667981000
- Derived free cash flow (operating cash flow minus capex)计算所得自由现金流（经营现金流减资本开支）: $3207139000
Cash is the reported balance at period end. The runway scenario holds this annual cash-flow pace constant and excludes debt payments, restricted-cash adjustments and future financing.现金为期末已披露余额。现金跑道情景假设本年度现金流速度保持不变，不包括债务偿还、受限现金调整与未来融资。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Sector / Theme行业/主题
Health Care (Equal-Weight) theme — #15 of 49 themes「医疗保健（等权）」主题 — 49 个主题中第 15 位
Macro宏观
Long-duration name into a restrictive, rising-real-rate regime → rate headwind.长久期标的进入偏紧、实际利率上行的环境→利率逆风。
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
COR StochRSI turned up from oversoldCOR StochRSI自超卖区上行
Options positioning期权持仓
as of last close截至上一收盘Market makers are net long gamma — price pinned near current level做市商净持有正伽玛，价格倾向于在当前水平附近震荡
Expected daily move预期日波动
±1.72%
Expected weekly move预期周波动
±3.85%
Gamma flip伽玛翻转位
$292
25d risk reversal25d风险逆转
-2.8%
Skew: balanced偏斜：balanced
Call and put walls are plotted on the Trade levels ladder →看涨/看跌期权墙已标注在「交易点位」阶梯上 →
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$1.3M net (2 buyers, 1 sellers)-$1.3M 净值（2 买家，1 卖家）
Signal history信号历史
engine events引擎事件
BOTTOMING → NEARING A LOW筑底中 → 接近低点
GET READY. Day 79 of a typical 23-44-day cycle — inside the window where lows usually form, and short-term momentum is washed out. No confirmed turn yet准备。典型 23-44 天周期的第 79 天——处于低点通常形成的窗口内，且短期动量已被洗净。尚无确认的转向
Sep 23, 2026
COR StochRSI turned up from oversoldCOR StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $312.28.StochRSI重回20上方 — 下行动量趋缓的最早预警。$312.28。
Sep 21, 2026
NEARING A LOW → BOTTOMING接近低点 → 筑底中
BUY SETUP买入预备
Sep 18, 2026
BOTTOMING → NEARING A LOW筑底中 → 接近低点
GET READY准备
Sep 16, 2026
COR lost its 200-day averageCOR 跌破200日均线
Price closed below the 200-day moving average — the classic bear dividing line. $318.50.收盘跌破200日均线 — 经典的空头分界线。$318.50。
Sep 14, 2026
COR took relative-strength leadershipCOR 取得相对强弱领先
Relative strength vs SPY crossed above the 90th percentile of the last 90 days — leadership tends to persist. $326.23.相对标普500的强弱上穿近90日的第90百分位 — 领先往往延续。$326.23。
Sep 9, 2026
COR took relative-strength leadershipCOR 取得相对强弱领先
Relative strength vs SPY crossed above the 90th percentile of the last 90 days — leadership tends to persist. $323.32.相对标普500的强弱上穿近90日的第90百分位 — 领先往往延续。$323.32。
Sep 9, 2026
COR daily MACD crossed downCOR 日线MACD下穿
The daily MACD histogram turned negative — fast and noisy, context rather than a standalone trigger. $323.32.日线MACD柱状图转负 — 快速且嘈杂，仅作背景。$323.32。
Sep 8, 2026
NEARING A HIGH → BOTTOMING接近高点 → 筑底中
BUY SETUP买入预备
Showing the last 15 of显示最近15条，共 133 signals条信号
Company profile公司档案
Cencora, Inc., formerly known as AmerisourceBergen, is an American drug wholesale and distribution company and a contract research organization, that was formed by the merger of Bergen Brunswig and AmeriSource in 2001. It was renamed to Cencora in 2023.Cencora公司，前身为AmerisourceBergen，是一家美国药品批发和分销公司及合同研究机构，由Bergen Brunswig和AmeriSource于2001年合并而成，2023年更名为Cencora。
Style DNA — how it trades vs the market风格基因 — 相对市场的交易特征
Value价值
Above market高于市场
Profitability盈利能力
Below market低于市场
Quality质量
Above market高于市场
Investment资本投入
Below market低于市场
Shareholder payout股东回报
Below market低于市场
Low volatility低波动
Above market高于市场
Low market beta低市场敏感度
Above market高于市场
Earnings quality盈利质量
Below market低于市场
Short interest空头兴趣
Below market低于市场
Watch items — what could change the story关注项 — 可能改变故事的因素
- Capital intensity rising
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Valuation vs sector估值对比行业
| Multiple指标 | This stock本股 | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（静态） | 38.4× | 29.6× | 36% |
| Price / Book市净率 | 31.3× | 3.3× | 3% |
| Price / Sales市销率 | 0.2× | 3.2× | 99% |
| EV / EBITDAEV/EBITDA | 17.1× | 18.3× | 55% |
| Earnings yield盈利收益率 | 2.6% | 2.6% | 53% |
| Free-cash-flow yield自由现金流收益率 | 6.5% | 5.5% | 66% |
| Shareholder yield股东综合回报率 | 1.5% | 1.9% | 41% |
Relative strength相对强度
vs market, 1 month相对大盘（1个月）
49/100 — middle of the pack居中
vs market, 3 months相对大盘（3个月）
74/100 — stronger than most强于多数
vs market, 6 months相对大盘（6个月）
32/100 — middle of the pack居中
vs market, 12 months相对大盘（12个月）
39/100 — middle of the pack居中
Rank in sector行业内排名
#81 / 173
0–100 percentile of total return vs all covered stocks.总回报在全部覆盖股票中的百分位（0–100）。
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -0.6% | +1.3% |
| 1 Month近1月 | -6.4% | +0.9% |
| 3 Months近3月 | +7.3% | +6.1% |
| 6 Months近6月 | -1.5% | +22.3% |
| Year to date年初至今 | -9.1% | +13.8% |
| 1 Year近1年 | +3.3% | +18.5% |
Trading information交易信息
Beta vs market贝塔
-0.16
Volatility rank波动率分位
31th pctile
Short interest空头占比
2.2% of float
Market cap市值
$60B
EPS (trailing)每股收益
$7.99
Off 52-week high距52周高点
-17.8%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $189.9B | $214.0B | $238.6B | $262.2B | $294.0B | $321.3B |
| EPS每股收益 | $-16.65 | $7.39 | $8.04 | $8.53 | $7.53 | $7.96 |
| Free cash flow自由现金流 | $1.8B | $2.2B | $2.2B | $3.5B | $3.0B | $3.2B |
| Gross margin毛利率 | 2.7% | 3.2% | 3.5% | 3.4% | 3.4% | 3.6% |
| Net margin净利率 | -1.8% | 0.7% | 0.7% | 0.7% | 0.5% | 0.5% |
| FCF margin自由现金流利润率 | 1.0% | 1.0% | 0.9% | 1.3% | 1.0% | 1.0% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$321.3B
Gross profit毛利润
$11.5B
Net income净利润
$1.6B
Operating cash flow经营现金流
$3.9B
Total assets总资产
$78.4B
Shareholder equity股东权益
$1.9B
Long-term debt长期负债
$7.6B
Dividends paid股息支出
$437M
Buybacks股票回购
$435M
Shares outstanding总股本
0.19B
Returns & growth回报与增长
Return on equity股本回报率
81.4%
Return on assets资产回报率
2.0%
Debt / assets负债/资产
9.7%
Profit growth利润增速
+3.0%
Asset growth资产增速
+13.5%
Accounting quality checks会计质量检查
- Earnings quality: accruals trending up over 6 fiscal years — earnings increasingly not cash-backed盈利质量：应计利润在 6 个财年间走高——盈利的现金支撑减弱
- Working capital: working capital roughly in line with sales营运资本：营运资本与销售大致同步
- Pricing power: soft gross profitability vs peers定价能力：毛利能力弱于同业
- Capital discipline: investment near the peer median资本纪律：投资力度接近同业中位
- Balance sheet: Altman Z 4.82 — safe zone资产负债表：Altman Z 4.82——安全区
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
40
RSI (2-day)RSI（2日）
9
vs 20-day average相对20日均线
-4.4%
vs 50-day average相对50日均线
-3.3%
vs 200-day average相对200日均线
-3.6%
Golden cross (50>200)金叉（50>200）
not in effect未生效
MACDMACD
below signal位于信号线下方
Timeframe alignment多周期共振
Daily日线
momentum down动能向下
3-day3日线
momentum down — fresh downturn动能向下——刚刚转弱
Weekly周线
momentum up动能向上
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range width percentile波幅宽度分位
62/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Jun 2026 | $4.48 | $4.37 | +2.5% |
| Mar 2026 | $4.75 | $4.80 | -1.0% |
| Dec 2025 | $4.08 | $4.07 | +0.2% |
| Sep 2025 | $3.84 | $3.79 | +1.3% |
Estimate revisions预期修正
Analysts covering覆盖分析师
8
Estimate direction预期调整方向
mostly cutting多数下调
Estimate change, 90 days预期变化（90天）
+0.2%
Net upgrades, 30 days净上调（30天）
-2
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Options — full detail期权持仓 — 完整明细
Dealer positioning map做市商持仓地图
Call wall看涨期权墙
$330
Put wall看跌期权墙
$300
Gamma flip伽玛翻转位
$292
Upside magnet上方磁吸位
$310
Downside magnet下方磁吸位
$290
Net dealer gamma做市商净伽玛
+$0.0B
Distance to flip距翻转位
+4.7%
Walls and magnets are strikes with heavy open interest — price often slows or gravitates there.期权墙与磁吸位是未平仓集中的行权价 — 价格常在附近减速或被吸引。
Volatility pricing波动率定价
Implied volatility (30d)隐含波动率（30天）
0%
25-delta risk reversal25-delta风险逆转
-2.8%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$1.3M
Insider buyers vs sellers内部人买家vs卖家
2 : 1
Short interest空头占流通盘
2.2%
Days to cover回补天数
3.4
Short interest change空头变化
-4.8%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。