Cencora (COR) Q4 FY2021 earnings: revenue $58.9 billion, up 19.6% on the year

Cencora, Inc. (COR) reported revenue of $58.9 billion for Q4 FY2021, the quarter ended 30 September 2021, up 19.6% on the same quarter a year earlier. Net income was $438 million, and diluted earnings per share $2.08. The figures are the company's own, from the 10-K it filed with the SEC on 23 November 2021.

Revenue

$58.9 billion

+19.6% on the year · +10.3% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

1.0%

-12.4% a year earlier

Q1 FY2020Q4 FY2021

Net income

$438 million

+49.8% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$2.08

+48.6% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	58,912	53,406	49,245	+10.3%	+19.6%
Cost of revenue	56,843	n/a	n/a
Gross profit	2,069	n/a	n/a
Gross margin	3.5%	n/a	n/a
Selling, general and administrative	1,216	n/a	n/a
Operating income	562	621	-6,113	-9.5%
Operating margin	1.0%	1.2%	-12.4%
Pre-tax income	554	n/a	n/a
Income tax	117	n/a	n/a
Effective tax rate	21.2%	n/a	n/a
Net income	438	292	-4,846	+49.8%
Net margin	0.7%	n/a	n/a
Diluted EPS	$2.08	$1.40	-$23.74	+48.6%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	1,010	n/a	n/a
Capital expenditure	165	n/a	n/a
Free cash flow	845	n/a	n/a
Free cash flow margin	1.4%	n/a	n/a
Cash from investing	-171	n/a	n/a
Cash from financing	-445	n/a	n/a
Depreciation and amortisation	171	128	101	+34.0%	+69.1%
Share-based compensation	18.1	n/a	n/a
Buybacks	0.0	n/a	n/a
Dividends paid	92.6	n/a	n/a
Diluted shares, weighted	208m	209m	n/a	-0.2%
Shares outstanding at period end	208m	208m	204m	+0.2%	+1.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	223	38.0	-1,019	+488.4%
Non-controlling interest	361	n/a	n/a
Debt	6,684	7,103	4,120	-5.9%	+62.3%
Operating lease liabilities	946	n/a	n/a
Other liabilities	49,123	n/a	n/a
Total liabilities and equity	57,338	n/a	n/a
Fixed assets	2,163	n/a	n/a
Goodwill	9,031	n/a	n/a
Intangible assets	5,257	n/a	n/a
Cash and equivalents	2,547	2,553	4,598	-0.2%	-44.6%
Receivables	18,167	n/a	n/a
Inventory	15,368	n/a	n/a
Other assets	4,805	n/a	n/a
Total assets	57,338	n/a	n/a

Questions

What was Cencora's revenue in Q4 FY2021?

Cencora (COR) reported revenue of $58.9 billion for Q4 FY2021, the quarter ended 30 September 2021, up 19.6% on the same quarter a year earlier.

How much did Cencora earn in Q4 FY2021?

Net income for Q4 FY2021 was $438 million, and diluted earnings per share $2.08.

When did Cencora report Q4 FY2021 results?

Cencora filed its 10-K for the year that ended with the quarter on 23 November 2021; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	58,912	59,629	57,719	60,065	61,174	62,847	63,457	66,947	68,922	72,253	68,414	74,241	79,050	81,487	75,454	80,664	83,729	85,932	78,356	84,755
Cost of revenue	56,843	57,568	55,484	58,049	59,189	60,701	61,162	64,682	66,669	69,784	65,876	71,831	76,558	78,929	72,394	77,756	80,775	82,860	74,768	81,148
Gross profit	2,069	2,060	2,235	2,015	1,986	2,146	2,295	2,265	2,253	2,469	2,538	2,411	2,492	2,558	3,060	2,907	2,954	3,072	3,588	3,607
Gross margin	4%	3%	4%	3%	3%	3%	4%	3%	3%	3%	4%	3%	3%	3%	4%	4%	4%	4%	5%	4%
SG&A	1,216	1,170	1,203	1,212	1,263	1,291	1,321	1,304	1,394	1,399	1,389	1,383	1,490	1,472	1,600	1,673	1,749	1,795	1,978	2,132
Operating income	562	644	780	487	455	633	561	670	477	823	553	672	127	706	1,036	868	18.5	760	1,143	1,120
Operating margin	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%	0%	1%	1%	1%	0%	1%	1%	1%
Pre-tax income	554	596	728	476	382	593	512	609	446	783	467	628	125	620	929	896	-187	709	2,089	996
Tax rate	21%	25%	24%	24%	22%	20%	16%	21%	22%	23%	10%	22%	94%	20%	23%	23%	n/a	20%	22%	22%
Net income	438	449	548	407	295	480	435	480	351	602	421	483	3.4	489	718	687	-340	560	1,641	764
Net margin	1%	1%	1%	1%	0%	1%	1%	1%	1%	1%	1%	1%	0%	1%	1%	1%	-0%	1%	2%	1%
Diluted EPS	$2.08	$2.13	$2.59	$1.92	$1.40	$2.33	$2.13	$2.35	$1.72	$2.98	$2.09	$2.42	$0.02	$2.50	$3.68	$3.52	-$1.75	$2.87	$8.40	$3.94
Operating cash flow	1,010	863	267	409	1,164	710	630	745	1,827	885	-878	2,478	1,000	-2,719	3,351	109	3,133	-2,305	1,339	2,654
Capital expenditure	165	79.7	130	113	174	75.7	103	104	175	74.2	113	118	182	106	129	183	250	119	166	226
Free cash flow	845	784	137	295	991	634	527	641	1,651	811	-991	2,360	818	-2,825	3,222	-74.0	2,884	-2,425	1,173	2,428
Buybacks	0.0	0.0	11.4	237	235	807	0.0	100	274	386	50.8	550	505	385	50.0	0.0	0.1	n/a	n/a	n/a
Dividends paid	92.6	101	97.4	97.3	96.4	99.7	102	98.9	98.3	106	107	103	101	111	111	107	108	127	117	117
Shares outstanding	208m	209m	209m	208m	206m	202m	202m	202m	201m	199m	199m	197m	195m	194m	194m	194m	194m	195m	195m	191m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 30 September 2021, filed 23 November 2021: the filing.