COR vs HSIC: Cencora and Henry Schein compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Cencora is the larger company, worth $63.5B, about 6.3 times Henry Schein.
- Henry Schein grew revenue faster over the last year (+6.7% vs +5.1%).
- Henry Schein keeps more of each dollar of revenue as operating profit (5.0% vs 0.9%).
- On earnings, Cencora is the cheaper stock (25.0x vs 26.6x).
- Cencora's price assumes faster free cash flow growth: about 5% a year, against 3% for Henry Schein (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | COR | HSIC |
|---|---|---|
| Market cap | $63.5B | $10.0B |
| Share price | $323.85 | $84.01 |
| Revenue (last fiscal year) | $321.3B | $13.2B |
| Free cash flow (last fiscal year) | $3.2B | $573M |
| Revenue growth, last year | +5.1% | +6.7% |
| Revenue growth per year, last 5 fiscal years | +10.7% | +1.5% |
| Operating margin | 0.91% | 5.0% |
| Net margin | 0.79% | 3.0% |
| Return on equity | 86.0% | 12.8% |
| P/E (trailing) | 25.0x | 26.6x |
| Price / free cash flow | 19.8x | 17.5x |
| EV / EBITDA | 16.0x | 13.1x |
| FCF growth the price implies | 4.9% | 3.3% |
| Dividend yield | 0.69% | — |
| Debt / equity | 26.4x | 2.11x |
| Fundamental grade | D | D |
| Superinvestors holding it | 3 | 8 |
| Insider purchases, last 12 months | 2 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Cencora
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $214.0B | $2.2B | 1.1% |
| 2022 | $238.6B | $2.2B | 0.99% |
| 2023 | $262.2B | $3.5B | 0.89% |
| 2024 | $294.0B | $3.0B | 0.74% |
| 2025 | $321.3B | $3.2B | 0.82% |
Henry Schein
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.4B | $631M | 6.9% |
| 2022 | $12.6B | $506M | 5.9% |
| 2023 | $12.3B | $353M | 5.0% |
| 2024 | $12.7B | $700M | 4.9% |
| 2025 | $13.2B | $573M | 5.0% |
Where the revenue comes from
Cencora · by segments, 2025
U.S. Healthcare Solutions$291.0B91%
International Healthcare Solutions$30.4B9%
Henry Schein · by segments, 2025
Global Distribution and Value-Added Services$11.1B84%
Global Specialty Products$1.4B11%
Global Technology$675M5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open COR in InvestinglyQuestions
Which is bigger, Cencora or Henry Schein?
Cencora (COR), at $63.5B against $10.0B.
Is COR or HSIC cheaper?
By trailing P/E, Cencora (25.0x) is cheaper than Henry Schein (26.6x). A lower multiple can also mean the market expects less growth.
Which grows faster, COR or HSIC?
Henry Schein: revenue grew +6.7% over the last year, against +5.1%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.