Cencora
COR · Health Care Distributors
$331.00
2.2%McKesson
MCK · Health Care Distributors
$1,000.77
1.1%The short version
- McKesson is the larger business, with $403.4B of revenue in fiscal 2026 against $321.3B for Cencora.
- McKesson grew revenue faster (12.4%, against 9.3%).
- McKesson kept more of each dollar of sales as operating profit (1.5% operating margin, against 0.8% operating margin).
- Investors pay more for each dollar of McKesson’s earnings: a P/E of 26.8x against 24.6x for Cencora.
| Latest fiscal year | COR · FY25 | MCK · FY26 |
|---|---|---|
| Size | ||
| Market cap | $64.2B | $119.3B |
| Revenue | $321.3B | $403.4B |
| Free cash flow | $3.2B | $5.7B |
| Net income | $1.6B | $4.8B |
| Growth | ||
| Revenue growth | 9.3% | 12.4% |
| 5-year growth | 11.1% | 11.1% |
| Share count change | −2.5% | −3.1% |
| Profitability | ||
| Gross margin | 3.6% | 3.6% |
| Operating margin | 0.8% | 1.5% |
| Net margin | 0.5% | 1.2% |
| FCF margin | 1.0% | 1.4% |
| Return on capital | — | — |
| Return on equity | — | — |
| Balance sheet | ||
| Net debt | $3.3B | $2.7B |
| Net debt / EBITDA | 0.9x | 0.4x |
| Dividends and buybacks | $873M | $5.1B |
| Valuation & quality | ||
| P/E | 24.6x | 26.8x |
| Piotroski F-score | 7 | 6 |
FY17
COR $153.1B
MCK $198.5B
FY18
COR $167.9B
MCK $208.4B
FY19
COR $179.6B
MCK $214.3B
FY20
COR $189.9B
MCK $231.1B
FY21
COR $214.0B
MCK $238.2B
FY22
COR $238.6B
MCK $264.0B
FY23
COR $262.2B
MCK $276.7B
FY24
COR $294.0B
MCK $309.0B
FY25
COR $321.3B
MCK $359.1B
FY26
COR —
MCK $403.4B
COR
MCK
FY17
COR 0.7%
MCK 3.6%
FY18
COR 0.9%
MCK 0.4%
FY19
COR 0.6%
MCK 0.4%
FY20
COR −2.7%
MCK 1.1%
FY21
COR 1.1%
MCK −2.1%
FY22
COR 1.0%
MCK 0.8%
FY23
COR 0.9%
MCK 1.6%
FY24
COR 0.7%
MCK 1.3%
FY25
COR 0.8%
MCK 1.2%
FY26
COR —
MCK 1.5%
COR
MCK
FY17
COR $1.0B
MCK $4.3B
FY18
COR $1.1B
MCK $3.9B
FY19
COR $2.0B
MCK $3.6B
FY20
COR $1.8B
MCK $4.0B
FY21
COR $2.2B
MCK $4.1B
FY22
COR $2.2B
MCK $4.0B
FY23
COR $3.5B
MCK $4.8B
FY24
COR $3.0B
MCK $3.9B
FY25
COR $3.2B
MCK $5.5B
FY26
COR —
MCK $5.7B
COR
MCK
FY17
COR —
MCK 36.2%
FY18
COR 36.4%
MCK 4.7%
FY19
COR 22.7%
MCK 3.2%
FY20
COR —
MCK 22.5%
FY21
COR —
MCK —
FY22
COR —
MCK —
FY23
COR —
MCK —
FY24
COR —
MCK —
FY25
COR —
MCK —
FY26
COR —
MCK —
COR
MCK
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.