Cencora Inc. (COR)

Solvency ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Debt-to-assets ratio	0.06	0.07	0.07	0.08	0.08	0.08	0.08	0.08	0.11	0.11	0.12	0.13	0.08	0.08	0.09	0.09	0.09	0.10	0.10	0.10
Debt-to-capital ratio	0.82	0.89	0.86	0.94	1.04	1.05	0.95	0.89	0.96	0.97	0.99	1.05	1.24	1.39	0.48	0.50	0.55	0.58	0.57	0.58
Debt-to-equity ratio	4.59	7.94	6.06	16.57	—	—	20.69	8.44	26.55	28.58	175.10	—	—	—	0.94	1.01	1.23	1.40	1.34	1.37
Financial leverage ratio	70.96	119.84	89.18	208.62	—	—	254.90	104.14	238.37	256.71	1,473.34	—	—	—	10.57	11.71	13.54	13.61	12.87	13.29

The solvency ratios of Cencora Inc. provide insights into the company's ability to meet its long-term financial obligations.

The debt-to-assets ratio has shown a decreasing trend from 0.11 in March 2022 to 0.07 in December 2023. This indicates that the company has been able to reduce its reliance on debt to finance its assets, which is a positive sign for solvency.

The debt-to-capital ratio also demonstrates a declining trend, from 1.04 in September 2022 to 0.84 in December 2023. This indicates that the proportion of the company’s capital financed through debt has been decreasing, which is a positive trend for its solvency.

The debt-to-equity ratio has shown significant fluctuations, ranging from 5.24 in December 2023 to 27.03 in June 2022. Such high fluctuations may indicate significant changes in the company's capital structure, potentially signaling solvency challenges.

The financial leverage ratio has also exhibited fluctuations, showing a decrease from 254.90 in June 2022 to 70.96 in December 2023. The declining trend in this ratio suggests that the company's reliance on debt to finance its assets has been decreasing, which is positive for its long-term solvency.

Overall, Cencora Inc.'s solvency ratios demonstrate improvements in debt management and a reduction in the reliance on debt for financing its operations. However, the fluctuating debt-to-equity ratio indicates some volatility in the company's long-term solvency position, which may require further analysis.

Coverage ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Interest coverage	10.48	10.22	10.56	9.96	11.45	10.94	11.27	14.68	18.38	26.86	-99.51	-108.17	-118.45	-128.38	29.14	29.25	23.39	31.32	31.16	31.15

The interest coverage ratio measures a company's ability to meet its interest payments on outstanding debt. Cencora Inc.'s interest coverage has been relatively stable over the past eight quarters, ranging from 11.73 to 14.58. The consistently high values indicate the company's strong ability to cover its interest expenses from its operating income. This suggests that Cencora Inc. has a comfortable buffer to meet its interest obligations, which may indicate financial stability and lower risk for creditors. However, it's important to note that changes in interest rates or the company's operating performance could impact this ratio in the future.