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STOCK COMPARISON

Cencora vs McKesson: Fair Value & Quality

Both stocks run through our valuation models. Here is how Cencora (COR) and McKesson (MCK) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees McKesson as the less overvalued of the two: Cencora trades at $337 versus a fair value of $211 (-37%), while McKesson trades at $921 versus $819 (-11%).
Cencora
COR · USD · Health Care
-37%
upside to fair value
overvalued
Price$337
Fair Value$211
Quality58/100
McKesson
MCK · USD · Health Care
-11%
upside to fair value
overvalued
Price$921
Fair Value$819
Quality67/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

CencoraMcKesson
Valuation
23.1×P/E (TTM)21.0×
0.18×P/S (TTM)0.23×
39.02×P/B—
11.7×EV/EBITDA13.9×
0.64×PEG1.57×
−37.4%Fair value upside−11.1%
0.7%Dividend yield0.3%
$2.30Dividend per share$3.17
Profitability
2%Operating margin2%
0.85×EBIT margin trend (5Y)1.60×
107%Return on equity—
3%Return on assets5%
Growth
4%Revenue growth (YoY)6%
10.4%Avg. growth/yr (3Y)13.4%
11.1%Avg. growth/yr (5Y)11.1%
+7.6%Value creation/yr+44.8%
Balance & size
8.7×Interest coverage (EBIT/interest)26.1×
5.00×Debt / equity—
$59BMarket cap$94B
healthyGrowth qualityhealthy

McKesson leads: 4 to 7 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Cencoraof which business quality 58 · market factors 61 McKessonof which business quality 65 · market factors 70
ProfitabilityMargins and returns on capital today
53
49
Quality GrowthAre margins and returns improving?
40
65
CashflowEarnings quality: real cash, not paper profit
54
47
Fin. StrengthBalance sheet, leverage, solvency risk
42
72
InvestmentDisciplined investing over empire-building
73
76
Low VolatilityCalm price path (market factor)
77
83
MomentumPrice trend over the last 3–12 months (market factor)
51
60
52W MomentumDistance to the 52-week high (market factor)
60
75
Net IssuanceBuybacks instead of dilution
100
100

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyCencoraPrice $337McKessonPrice $921
DCF Models-12%close to the price$296+4%close to the price$955
Earnings-Based-64%below the price$122-52%below the price$444
Dividend Discount-88%below the price$39.53-94%below the price$57.26
Multiples-40%below the price$202-8%close to the price$848
Asset-Based-98%below the price$5.19n/a
Growth DCF+3%close to the price$3470%close to the price$922
Economic Profit-61%below the price$131-46%below the price$497
Growth Earnings-55%below the price$152-23%below the price$708
Minimum-98%below the price$5.19-94%below the price$57.26
Maximum+3%close to the price$347+4%close to the price$955
Median-58%below the price$142-23%below the price$708
Geometric mean-70%below the price$100-47%below the price$489

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Cencora: 21 of 25 models see the stock below the current price.

McKesson: 15 of 23 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Cencora
Bear $138Fair Value $211Bull $284
$337 = current price (white tick)
McKesson
Bear $605Fair Value $819Bull $1,034
$921 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Cencora · Health Care

Quality score58 · above median
Fair value upside-37% · below median

McKesson · Health Care

Quality score67 · Top 25%
Fair value upside-11% · above median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees McKesson as the less overvalued of the two: Cencora trades at $337 versus a fair value of $211 (-37%), while McKesson trades at $921 versus $819 (-11%).

McKesson has the higher quality score (67/100).

See the full analysis →
Cencora · McKesson

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.