Cencora

High recurrence and contract visibility underpin steady multi‑year growth. FY2025: revenue $321.3B, adjusted EPS 16.00; FY2026 guide: revenue +5–7%, adjusted operating income +8–10%, adjusted EPS 17.45–17.75. Contracts with Walgreens/Evernorth run to 2029 and Boots to 2031, anchoring volumes.

Risks include policy shifts and customer consolidation, but the tollbooth character on drug flows remains resilient.