COR
Cencora, Inc.
Is COR Halal?
Pharmaceutical distribution — a permissible healthcare-logistics business, with thin-margin balance sheet to screen.
What You Should Know
Cencora, Inc. distributes branded, generic and specialty medicines. Its March 31, 2026 Form 10-Q reports assets of $81,652.1 million, interest-bearing debt of $12,385.520 million, cash of $2,176.496 million, receivables of $24,893.220 million and quarterly revenue of $164,287.932 million. Debt/assets is 15.17%, liquidity/assets is 2.67% and receivables-plus-cash/assets is 33.15%; the examined asset-based ratios pass, while product and downstream customer allocation remain incomplete. The filing does not provide a reproducible gross non-compliant-income numerator.
⚠️ Concerns
- •Receivables-plus-cash/assets is 33.15%, just below the examined MSCI 33.33% limit
- •High-volume distribution and acquisition activity can move the receivables and debt ratios
- •No reproducible gross non-compliant-income numerator is disclosed
- •Product and downstream customer mix requires qualitative review
- •Re-screen the financial ratios periodically
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
12,385.52 / 81,652.1
2,176.496 / 81,652.1
27,069.716 / 81,652.1
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 15.17%, liquidity/assets is 2.67% and receivables-plus-cash/assets is 33.15%; the filing does not provide a reproducible income numerator for the FTSE income test.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables-plus-cash/assets are below the examined MSCI limits; business disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 15.17% and liquidity/assets is 2.67%, below the examined Malaysia limits; this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; known asset-based ratios pass but business disclosure remains incomplete.
Business-activity disclosure
Cencora distributes branded, generic and specialty medicines to pharmacies, hospitals and providers; pharmaceutical distribution is generally permissible.
Limitation: The filing does not allocate revenue by product or downstream customer end use and does not provide a universal prohibited-revenue numerator.
Purification
No reproducible gross non-compliant-income numerator is disclosed; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are converted from USD thousands in Cencora's March 31, 2026 Form 10-Q to USD millions.
- Debt combines current debt of $202.660 million and noncurrent long-term debt of $12,182.860 million.
- Cash is $2,176.496 million; the filing does not identify a separate interest-bearing securities balance in the primary balance sheet.
- Receivables use the reported net current accounts-receivable balance of $24,893.220 million, including the high-volume distribution model's customer receivables.
- The filing does not provide a reproducible gross non-compliant-income numerator; pharmaceutical distribution is generally permissible, while product and customer allocation remains qualitative.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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