Cencora (COR) risk factors: FY2025 10-K

Item 1A of the 10-K for the period ending 2025-09-30, filed 2025-11-25. 30 risk factor headings as filed. Read Item 1A in full · The whole 10-K · What changed since FY2024

1new since FY2024
8reworded
3removed
21unchanged

Headings mentioning a theme: Tariffs 0 · AI 0 · Cybersecurity 1 · China 0 · Interest rates 0. Compare across the S&P 500.

Business and Operational Risks

11
  1. Our revenue, financial position, results of operations, and cash flows may suffer upon the loss, or renewal at less favorable terms, of a key customer or group purchasing organization.
  2. The anticipated ongoing benefits of our relationship with Walgreens and Boots may not be realized.reworded
  3. A disruption in our distribution or generic purchasing services arrangements with Walgreens or WBAD could adversely affect our business and financial results.reworded
  4. Our results of operations and financial position may be adversely affected if we acquire or invest in businesses that do not perform as we expect or that are difficult for us to integrate.
  5. Our business and results of operations may be adversely affected if we fail to manage and complete divestitures.
  6. We face geopolitical and other risks associated with our international operations, which could materially adversely impact our financial position, results of operations, and cash flows.
  7. We might be adversely impacted by fluctuations in foreign currency exchange rates.
  8. We are subject to operational and logistical risks that might not be covered by insurance.
  9. We are subject to industry risks that might not be covered by insurance nor indemnification obligations of our contracted parties.
  10. We might be unable to successfully recruit and retain qualified employees.
  11. The loss or disruption of information systems could disrupt our operations and have a material adverse effect on our business.

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Industry and Economic Risks

5
  1. Our results of operations could be adversely impacted by manufacturer pricing changes.
  2. Competition and industry consolidation may erode our profit.
  3. Our revenue and results of operations may suffer upon the bankruptcy, insolvency, or other credit failure of a significant customer or supplier.reworded
  4. Our stock price and our ability to access credit markets may be adversely affected by financial market volatility and disruption or a downgrade in our credit ratings.
  5. Declining economic conditions could adversely affect our results of operations and financial position.

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Litigation and Regulatory Risks

14
  1. Increasing governmental efforts to regulate the pharmaceutical supply chain may increase our costs and reduce our profitability.
  2. Legal, regulatory, and legislative changes with respect to coverage, reimbursement, pricing, and contracting may adversely affect our business and results of operations, including through declining reimbursement rates.reworded
  3. If we fail to comply with laws and regulations in respect of healthcare fraud and abuse, we could suffer penalties or be required to make significant changes to our operations.
  4. Our business, results of operations, and cash flows could be adversely affected by legal proceedings.
  5. Opioid-related legal proceedings and the Distributor Settlement Agreement that we have entered into could adversely impact our cash flows or results of operations.
  6. Public concern over the abuse of medications could negatively affect our business.reworded
  7. Tax legislation or challenges to our tax positions could adversely affect our results of operations and financial position.
  8. Violations of anti-bribery, anti-corruption, and/or international trade laws that we are subject to could have a material adverse effect on our business, financial position, and results of operations.
  9. Any actual or perceived failure to adequately protect proprietary business information or personal data could result in claims of liability against us, damage our reputation or otherwise materially harm our business.reworded
  10. Our third-party business partners are vulnerable to cybersecurity risks, and any cyber incident affecting our third-party business partners could significantly disrupt our operations.Cybersecurity
  11. Any actual or perceived failure to protect our reputation could have a material adverse effect on our business and operations.reworded
  12. Our intellectual property rights may not provide meaningful commercial protection.reworded
  13. We have been and may in the future be adversely impacted by events outside of our control.new
  14. Our goodwill or long-lived assets may become impaired, which may require us to record a significant charge to earnings in accordance with generally accepted accounting principles.

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No longer in Item 1A

3

Headings in the FY2024 10-K with no match this year.

  1. The closing of the variable prepaid forward transactions concerning our common stock by WBA could adversely affect prevailing market prices of our common stock.
  2. Our results of operations may suffer upon the bankruptcy, insolvency, or other credit failure of a significant supplier.
  3. We are adversely impacted by events outside of our control, such as widespread public health issues, natural disasters, government policy changes, and political events.

Headings are the lines of Item 1A set wholly in bold or italics, as the parser reads them, without the introductory paragraph that opens the section. A heading is new when no heading in the prior 10-K matches it after ignoring case and punctuation, and reworded when it shares at least 60 percent of its words with one that went away. Source: the filing on sec.gov.