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Cardinal Health (CAH) stock

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NYSE: CAH NYSE Health Care Distributors Next results ~November 5, 2026

Cardinal Health is a US-listed company in the health care distributors industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Cardinal Health valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 35 sales by directors and officers, last 12 monthsInsider trades
  • Funds678 adding, 646 cuttingOf 86 active managers that changed their stake, 36 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Cardinal Health files

Where Cardinal Health stands after its latest 10-K

Revenue for the twelve months to June 2026 was $244.7bn, up 10.1% on a year earlier, faster than 4.4% a quarter earlier. Free-cash-flow margin rose to 2.2% from -0.2% a year earlier. The diluted share count is down 2.5% on a year earlier, which lifts each remaining share. It passes 0 of our 1 financial-health checks.

Our model value for Cardinal Health is under review, so past values are not shown until it is resolved.

Source: 10-K filed August 11, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Cardinal Health's trailing-twelve-month revenue grew 10.1% year on year, with a free-cash-flow margin of 2.2%.

Our discounted-cash-flow model values the business at ~$280 per share in the base case (~$200–$380 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 10.1% (+5.7pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 5.7 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 2.5% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 9 November; the share price can move sharply on the day.
  • Insiders selling. 8 insiders sold $62M of stock over the past 365 days and none bought (0% under pre-set trading plans).

Latest results: FY2026 Q2

Filed February 5, 2026
Earnings per share
$2.60 against an average estimate of $2.42: beat by 7.4%
Revenue
$65.63bn, up 18.8% on a year earlier
Share reaction
-1.3% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500
Guidance given
non-GAAP earnings per share $12.4 to $12.6 (fiscal year 2027); revenue growth 3% to 5% (fiscal year 2027)
Next report
November 5, 2026; average EPS estimate $2.94

Cardinal Health's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.5%
  • 1 week+1.1%
  • 1 month+11.4%
  • This year+24.9%
  • 1 year+34.6%
  • 5 years+458.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$245B
Operating margin
1.0%
Net margin
0.7%
EPS (TTM, diluted)
$6.95

Growth

Revenue growth
+10.1%
Change in growth rate
+5.7 pts
Share count change
−2.5%

Cash

Free cash flow (TTM)
$5.5B
FCF margin
2.2%
Stock pay % of revenue
0.1%

Earnings

Last results
August 11, 2026
Next results (est.)
November 9, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Results
  8. Dividend
  9. Agreement
  10. Guidance
  11. Leadership
  12. Product
  13. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Cardinal Health valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Our value per share comes from a discounted-cash-flow model of Cardinal Health's free cash flow after stock-based pay ( $3B, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$58.91$60.23$38.94$39.10$45.05$51.08$48.52$90.08$95.09$165.38$236.49
Market value$19.4bn$19.3bn$12.3bn$11.8bn$13.2bn$15.0bn$13.5bn$23.6bn$23.5bn$40.0bn$56.0bn
+ Net debt (− = net cash)$3.2bn$4.4bn$7.3bn$5.5bn$4.0bn$2.8bn$598m$625m−$33m$4.7bn$4.0bn
Enterprise value$22.6bn$23.6bn$19.5bn$17.3bn$17.2bn$17.8bn$14.1bn$24.2bn$23.5bn$44.7bn$60.1bn
Multiples
Price / sales 0.2x0.1x0.1x0.1x0.1x0.1x0.1x0.1x0.1x0.2x0.2x
Price / earnings 13.6x15.0x47.9x8.6x—24.6x—71.5x27.6x25.6x32.7x
Price / free cash flow 7.8x24.2x5.1x4.9x8.3x7.4x4.9x10.0x7.2x21.6x12.4x
EV / EBITDA 7.3x8.3x16.9x5.6x—14.2x166.3x16.8x12.0x14.6x16.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

40 /100

Weak moat

How hard Cardinal Health's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Cash operating profit has been a median 6.5% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 4.1%, moving by 0.7 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 0.6%; its worst year was -2.8%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 9 of 10 years, at a median 1.3% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 18.3% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (44 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $66.5bn and EPS of $2.94 (range $2.88 to $3.06) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.56 +15% $265.8bn +5%
Next $14.06 +12% $281.9bn +6%

Next year's EPS estimate has moved +3.4% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.0% on 90 days ago. In the last 30 days, 0 analysts raised Cardinal Health's forecast and 1 cut it.

Consensus EPS forecast Cardinal Health, last 90 days
$12.00 $13.00 $14.00 $15.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $12.08 Current fiscal year, 60 days ago: $12.57 Current fiscal year, 30 days ago: $12.57 Current fiscal year, 7 days ago: $12.56 Current fiscal year, Now: $12.56 $12.56 Next fiscal year, 90 days ago: $13.59 Next fiscal year, 60 days ago: $14.08 Next fiscal year, 30 days ago: $14.06 Next fiscal year, 7 days ago: $14.06 Next fiscal year, Now: $14.06 $14.06

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $12.08$13.59
60 days ago $12.57$14.08
30 days ago $12.57$14.06
7 days ago $12.56$14.06
Now $12.56$14.06

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $2.42 $2.60 +7.4%
Mar 2026 $2.79 $3.17 +13.7%
Dec 2025 $2.37 $2.63 +11.2%
Sept 2025 $2.17 $2.55 +17.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 11, 2026
  • Non-GAAP earnings per share fiscal year 2027 $12.40 to $12.60 Non-GAAP
    “Non-GAAP earnings per share $12.40 to $12.60” source
  • Revenue · Pharmaceutical and Specialty Solutions fiscal year 2027 3% growth to 5% growth
    “Revenue 3% to 5% growth” source
  • Segment profit · Pharmaceutical and Specialty Solutions fiscal year 2027 8% growth to 11% growth
    “Segment profit 8% to 11% growth” source
  • Revenue · Global Medical Products and Distribution fiscal year 2027 2% growth to 4% growth
    “Revenue 2% to 4% growth” source
  • Segment profit · Global Medical Products and Distribution fiscal year 2027 $200m to $220m
    “Segment profit $200 million to $220 million” source
  • Revenue · Other (NPHS, at-Home Solutions, OptiFreight Logistics) fiscal year 2027 11% growth to 13% growth
    “Revenue 11% to 13% growth” source
Show 7 more items
  • Segment profit · Other (NPHS, at-Home Solutions, OptiFreight Logistics) fiscal year 2027 15% growth to 18% growth
    “Segment profit 15% to 18% growth” source
  • Interest and other fiscal year 2027 $240m to $290m
    “Interest and other $240 million to $290 million” source
  • Non-GAAP effective tax rate fiscal year 2027 19% to 20% Non-GAAP
    “Non-GAAP effective tax rate 19.0% to 20.0%” source
  • Diluted weighted average shares outstanding fiscal year 2027 about 233m
    “Diluted weighted average shares outstanding ~233 million” source
  • Share repurchases fiscal year 2027 about $1bn
    “Share repurchases ~$1 billion” source
  • Capital Expenditures fiscal year 2027 about $700m
    “Capital Expenditures ~$700 million” source
  • Non-GAAP adjusted free cash flow fiscal year 2027 $3.5bn to $4bn Non-GAAP
    “Non-GAAP adjusted free cash flow $3.5 billion to $4.0 billion” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Cardinal Health's revenue by +8.8% next year and +8.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.6%, weight 69%) and the company's own record (+9.2%, weight 31%) . How the weights are set.

Analyst recommendations

17 analysts, Oct 2026
Buy1482%
Hold318%
Sell00%

Monthly trend

  1. Oct 2026311317
  2. Sep 2026311317
  3. Aug 2026312318
  4. Jul 2026212317

Counts of recommendations published by analysts covering Cardinal Health, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.3%
of tradable shares
Days to cover
4.16
at average volume
Short interest, 1 month
+15%
to October 15, 2026
Held by institutions
91%
of shares
Held by insiders
0.3%
of shares
Employees
58,788
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +34.6%

$188.98 on October 31, 2025 to $254.33

ThenNowEffect
Revenue (last 12 months) $222.6bn $244.7bn +9.9%
Net margin 0.7% 0.7% −3.1%
P/E multiple 29.3x 36.6x +24.8%
Share count 242m 239m +1.3%

Biggest factor: p/e multiple.

Last 3 years +164.9%

$96.00 on November 3, 2023 to $254.33

ThenNowEffect
Revenue (last 12 months) $205.0bn $244.7bn +19.4%
Net margin 0.2% 0.7% +256.1%
P/E multiple 64.3x 36.6x −43.1%
Share count 262m 239m +9.6%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CAH−0%+54%+34%+19%+76%+25%
Industry peers (median)+44%+26%−1%−9%+9%−10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CAH42%67%58%50%75%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CAH−25%−21%−14%−18%−13%−20%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 49% from December 30, 2015 to December 24, 2018. Getting back needed a 96% gain, reached on October 21, 2022, 1397 days after the low.

Price behaviour

52-week range
$181.68 – $257.55
From 52-week high
−1.3%
vs 50-day average
+6.9%
vs 200-day average
+14.8%
Volatility (1 year)
26%
Beta vs S&P 500
-0.02

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±5.3%
After a week
6 up, 6 down
typical move ±6.0%
After a month
7 up, 5 down
typical move ±7.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 −1.3% −0.1% −0.9% −0.5%
April 30, 2026 −3.7% +1.3% −8.6% −3.8%
February 5, 2026 +9.4% +0.6% +4.0% +7.5%
October 30, 2025 +16.0% −0.8% +20.4% +26.5%
August 12, 2025 −6.1% +1.4% −5.5% −3.3%
May 1, 2025 +5.8% +2.2% +4.2% +9.9%
January 30, 2025 −3.2% 0.0% −0.6% +1.1%
November 1, 2024 +3.1% +0.2% +11.1% +13.6%
August 14, 2024 +5.2% +2.0% +6.9% +10.3%
May 2, 2024 −3.2% +2.2% −4.0% −2.6%
February 1, 2024 −5.2% +2.4% −5.9% +3.2%
January 9, 2024 −0.9% +0.4% +0.3% −2.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Cardinal Health
$180B $200B $220B $240B $260B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $198.6B Revenue (TTM), FY23 Q4: $205B Revenue (TTM), FY24 Q1: $210B Revenue (TTM), FY24 Q2: $216B Revenue (TTM), FY24 Q3: $220.4B Revenue (TTM), FY24 Q4: $226.8B Revenue (TTM), FY25 Q1: $224.5B Revenue (TTM), FY25 Q2: $222.3B Revenue (TTM), FY25 Q3: $222.3B Revenue (TTM), FY25 Q4: $222.6B Revenue (TTM), FY26 Q1: $234.3B Revenue (TTM), FY26 Q2: $244.7B $244.7B

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $198.6B
FY23 Q4 $205B
FY24 Q1 $210B
FY24 Q2 $216B
FY24 Q3 $220.4B
FY24 Q4 $226.8B
FY25 Q1 $224.5B
FY25 Q2 $222.3B
FY25 Q3 $222.3B
FY25 Q4 $222.6B
FY26 Q1 $234.3B
FY26 Q2 $244.7B
Revenue growth, TTM YoY Cardinal Health
-5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 12.3% Revenue growth, TTM YoY, FY23 Q4: 13.0% Revenue growth, TTM YoY, FY24 Q1: 12.3% Revenue growth, TTM YoY, FY24 Q2: 11.9% Revenue growth, TTM YoY, FY24 Q3: 11.0% Revenue growth, TTM YoY, FY24 Q4: 10.7% Revenue growth, TTM YoY, FY25 Q1: 6.9% Revenue growth, TTM YoY, FY25 Q2: 2.9% Revenue growth, TTM YoY, FY25 Q3: 0.9% Revenue growth, TTM YoY, FY25 Q4: -1.9% Revenue growth, TTM YoY, FY26 Q1: 4.4% Revenue growth, TTM YoY, FY26 Q2: 10.1% 10.1%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 12.3%
FY23 Q4 13.0%
FY24 Q1 12.3%
FY24 Q2 11.9%
FY24 Q3 11.0%
FY24 Q4 10.7%
FY25 Q1 6.9%
FY25 Q2 2.9%
FY25 Q3 0.9%
FY25 Q4 -1.9%
FY26 Q1 4.4%
FY26 Q2 10.1%
Operating margin (TTM) Cardinal Health
0% 0.5% 1% 1.5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 0.3% Operating margin (TTM), FY23 Q4: 0.4% Operating margin (TTM), FY24 Q1: 0.3% Operating margin (TTM), FY24 Q2: 0.6% Operating margin (TTM), FY24 Q3: 0.5% Operating margin (TTM), FY24 Q4: 0.5% Operating margin (TTM), FY25 Q1: 0.8% Operating margin (TTM), FY25 Q2: 0.8% Operating margin (TTM), FY25 Q3: 1.0% Operating margin (TTM), FY25 Q4: 1.0% Operating margin (TTM), FY26 Q1: 1.0% Operating margin (TTM), FY26 Q2: 1.0% 1.0%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 0.3%
FY23 Q4 0.4%
FY24 Q1 0.3%
FY24 Q2 0.6%
FY24 Q3 0.5%
FY24 Q4 0.5%
FY25 Q1 0.8%
FY25 Q2 0.8%
FY25 Q3 1.0%
FY25 Q4 1.0%
FY26 Q1 1.0%
FY26 Q2 1.0%
FCF margin (TTM) Cardinal Health
-1% 0% 1% 2% 3% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 2.3% FCF margin (TTM), FY23 Q4: 1.2% FCF margin (TTM), FY24 Q1: 1.4% FCF margin (TTM), FY24 Q2: 1.6% FCF margin (TTM), FY24 Q3: 0.9% FCF margin (TTM), FY24 Q4: 1.4% FCF margin (TTM), FY25 Q1: 0.5% FCF margin (TTM), FY25 Q2: -0.2% FCF margin (TTM), FY25 Q3: 1.1% FCF margin (TTM), FY25 Q4: 0.8% FCF margin (TTM), FY26 Q1: 1.9% FCF margin (TTM), FY26 Q2: 2.2% 2.2%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 2.3%
FY23 Q4 1.2%
FY24 Q1 1.4%
FY24 Q2 1.6%
FY24 Q3 0.9%
FY24 Q4 1.4%
FY25 Q1 0.5%
FY25 Q2 -0.2%
FY25 Q3 1.1%
FY25 Q4 0.8%
FY26 Q1 1.9%
FY26 Q2 2.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Cardinal Health took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $254B
  2. Cost of revenue $244B · 96.2%
  3. Gross profit $9.8B · 3.8%
  4. Selling, general and admin $6.1B · 2.4%
  5. Operating income $2.6B · 1.0%
  6. Net income $1.7B · 0.7%

Shares of revenue. Source: Cardinal Health's 10-K for FY2026, as filed with the SEC.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 98.5 102.6 107.6 101.1 91.1 102.5 121.5 130.0 136.8 145.5 152.9 162.5 181.3 205.0 226.8 222.6 254.2
Gross profit 3.8 4.2 4.5 4.9 5.2 5.7 6.5 6.5 7.2 6.8 6.9 6.8 6.5 6.9 7.4 8.2 9.8
EBITDA 1.6 1.8 2.1 1.4 2.3 2.6 3.1 2.8 1.2 3.1 −3.2 1.3 0.1 1.4 2.0 3.1 3.6
Operating income 1.3 1.5 1.8 1.0 1.9 2.2 2.5 2.1 0.1 2.1 −4.1 0.5 −0.6 0.8 1.2 2.3 2.6
Net income 0.6 1.0 1.1 0.3 1.2 1.2 1.4 1.3 0.3 1.4 −3.7 0.6 −0.9 0.3 0.9 1.6 1.7
Diluted EPS $1.77 $2.72 $3.06 $0.97 $3.38 $3.62 $4.32 $4.03 $0.81 $4.53 −$12.61 $2.08 −$3.37 $1.26 $3.45 $6.45 $7.23
Growth (year on year)
Revenue +2.6% +4.2% +4.8% −6.0% −9.9% +12.6% +18.5% +6.9% +5.3% +6.4% +5.1% +6.2% +11.6% +13.0% +10.7% −1.9% +14.2%
EBITDA — — — — — +11.4% +18.7% −8.5% −59.2% — −204.1% — — — — — —
Operating income — — — — — +14.6% +13.8% −13.8% — — — — — — — — —
Margins
Gross margin 3.8% 4.1% 4.2% 4.9% 5.7% 5.6% 5.4% 5.0% 5.2% 4.7% 4.5% 4.2% 3.6% 3.4% 3.3% 3.7% 3.8%
EBITDA margin 1.6% 1.8% 2.0% 1.4% 2.6% 2.5% 2.6% 2.2% 0.8% 2.1% −2.1% 0.8% 0.0% 0.7% 0.9% 1.4% 1.4%
Operating margin 1.3% 1.5% 1.7% 1.0% 2.1% 2.1% 2.0% 1.6% 0.1% 1.4% −2.7% 0.3% −0.3% 0.4% 0.5% 1.0% 1.0%
Net margin 0.7% 0.9% 1.0% 0.3% 1.3% 1.2% 1.2% 1.0% 0.2% 0.9% −2.4% 0.4% −0.5% 0.2% 0.4% 0.7% 0.7%
Free-cash-flow margin 1.9% 1.1% 0.9% 1.5% 2.5% 2.2% 2.1% 0.6% 1.7% 1.6% 1.0% 1.2% 1.5% 1.2% 1.4% 0.8% 1.8%
Cash flow
Cash from operations 2.1 1.4 1.2 1.7 2.5 2.5 3.0 1.2 2.8 2.7 2.0 2.4 3.2 2.8 3.8 2.4 5.2
Capital spending 0.3 0.3 0.3 0.2 0.2 0.3 0.5 0.4 0.4 0.3 0.4 0.4 0.4 0.5 0.5 0.5 0.6
Free cash flow 1.9 1.1 0.9 1.5 2.3 2.2 2.5 0.8 2.4 2.4 1.6 2.0 2.8 2.4 3.3 1.9 4.5
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.4
Free cash flow after stock pay 1.8 1.0 0.8 1.4 2.2 2.1 2.4 0.7 2.3 2.3 1.5 1.9 2.7 2.3 3.1 1.6 4.2
Balance sheet
Cash 2.8 1.9 2.3 1.9 2.9 4.6 2.4 6.9 1.8 2.5 2.8 3.4 4.7 4.1 5.1 3.9 4.9
Total debt 2.1 2.5 2.9 3.9 4.0 5.5 5.5 11.3 9.0 8.0 6.8 6.2 5.3 4.7 5.1 8.5 8.9
Net debt (negative = net cash) −0.6 0.6 0.6 2.0 1.1 0.9 3.2 4.4 7.3 5.5 4.0 2.8 0.6 0.6 −0.0 4.7 4.0
Diluted shares 361m 353m 349m 344m 345m 335m 330m 320m 315m 301m 293m 294m 279m 262m 247m 242m 237m
Returned to shareholders
Dividends 0.3 0.3 0.3 0.4 0.4 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.5 0.5
Buybacks 0.2 0.3 0.5 0.5 0.7 1.0 0.7 0.6 0.6 0.6 0.4 0.2 1.0 2.0 0.8 0.8 1.4
Total returned 0.5 0.5 0.8 0.8 1.1 1.5 1.2 1.2 1.1 1.2 0.9 0.8 1.6 2.5 1.2 1.3 1.8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 2 checks passed · June 30, 2026
What it owns · $57.3bn
Short-term assets $38.8bnLonger-term assets $18.5bn
What it owes, and who funded it · $43.9bn
Short-term liabilities $43.9bnShareholders' equity $-2.9bn
  • Short-term assets cover short-term liabilities $38.8bn of assets due within a year against $43.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $4.9bn of cash against $7.0bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Cardinal Health's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$1.1B
Dividends (TTM)
$495M
Returned to shareholders
30%
of free cash flow
Buybacks, last 3 fiscal years
$2.9B
Diluted share count
−2.5%
year over year
Total shareholder yield
2.7%
dividends 0.8% + buybacks 1.9% of market value
Dividend payout ratio
30%
of net income paid out
Sales & admin spending
2.4%
of revenue

Competitors: side by side with peers

Closest by revenue in health care distributors
Last 12 months unless stated CAH COR MCK HSIC YI COSM Median
Revenue, last 12 months $244.7bn $332.8bn $411.0bn $13.6bn $1.7bn $74m $13.6bn
Revenue growth, last 12 months 10.1% 5.1% 8.8% 6.5% −12.7% 33.8% 6.5%
Revenue growth, 3-year average 8.2% 9.4% 13.1% 2.6% — 14.8% 9.4%
Revenue growth, latest quarter 18.8% 5.1% 7.7% 6.7% — 28.8% 7.7%
Gross margin 3.7% 4.0% 3.6% 31.3% 5.8% 10.3% 5.8%
Operating margin 1.0% 0.9% 1.6% 5.0% −0.0% −24.9% 0.9%
Operating margin, 3-year average 0.8% 0.9% 1.3% 4.8% −10.6% −29.5% 0.9%
Net margin 0.7% 0.8% 1.1% 3.0% −0.5% −33.1% 0.7%
Cash from operations / revenue 2.5% 1.4% 1.7% 5.1% 0.9% −13.3% 1.4%
Free-cash-flow margin 2.2% 1.2% 1.6% 4.2% 0.9% −13.5% 1.2%
Free-cash-flow margin, 3-year average 1.2% 1.0% 1.4% 3.8% −9.0% −12.4% 1.1%
Stock pay / revenue 0.1% 0.0% 0.1% 0.3% 0.1% 2.3% 0.1%
Change in share count −2.5% −0.5% −3.4% −6.1% 1.3% 79.3% −0.5%

Median of all 7 companies we cover in health care distributors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to June 30, 2026
Geography
Region Revenue Share YoY
United States $253B 99.3% ▲ 14.3%
Outside the US $1.7B 0.7% ▲ 2.2%

From Cardinal Health's 10-K filed August 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$48.9B
Institutions reporting
1,485
Shares held vs prior quarter
▲ 2.0%
Positions opened / closed
144 / 87

Top buyers and sellers, Q2 2026: 678 institutions bought and 646 sold ; the biggest buyer was Wellington Management Group LLP (+10.6M shares) and the biggest seller FMR LLC (−2.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $6.3B 26.5M 12.9% ▼ 7.0%
Vanguard Capital Management LLC $3.6B 15.3M 7.4% 0.0%
Wellington Management Group LLP $3.5B 14.9M 7.2% ▲ 247.5%
Vanguard Portfolio Management LLC $3.3B 13.7M 6.7% ▼ 0.1%
State Street Corp $2.8B 12.0M 5.8% ▼ 0.9%
Geode Capital Management, LLC $1.5B 6.5M 3.1% ▼ 1.6%
Invesco Ltd. $1.1B 4.7M 2.3% ▲ 35.0%
Morgan Stanley $1.1B 4.6M 2.2% ▼ 6.6%
WCM Investment Management, LLC $971M 4.1M 2.0% ▲ 2.6%
Norges Bank $885M 3.7M 1.8% —
Bank Of America Corp $689M 2.9M 1.4% ▲ 0.7%
Northern Trust Corp $682M 2.9M 1.4% ▲ 2.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cardinal Health's complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $61.6M 35 trades by 8 insiders · 0% under pre-set plans
Net ▼ $61.6M net selling
Insider Date Trade Shares Price Value
Hollar Jason M. Chief Executive Officer August 19, 2026 Sell 6,244 $237.88 $1.5M
Hollar Jason M. Chief Executive Officer August 19, 2026 Sell 16,187 $237.23 $3.8M
Hollar Jason M. Chief Executive Officer August 19, 2026 Sell 6,731 $236.46 $1.6M
Hollar Jason M. Chief Executive Officer August 19, 2026 Sell 5,704 $235.34 $1.3M
Hollar Jason M. Chief Executive Officer August 19, 2026 Sell 3,457 $234.29 $809,941
Hollar Jason M. Chief Executive Officer August 19, 2026 Sell 6,206 $233.22 $1.4M
Scherer Mary C. Chief Accounting Officer August 19, 2026 Sell 2,202 $237.39 $522,733
Scherer Mary C. Chief Accounting Officer August 19, 2026 Sell 100 $237.40 $23,740
Greene Michelle D. Chief Information Officer August 18, 2026 Sell 686 $237.25 $162,754
Greene Michelle D. Chief Information Officer August 18, 2026 Sell 3,512 $236.31 $829,921
Greene Michelle D. Chief Information Officer August 18, 2026 Sell 4,952 $235.68 $1.2M
Greene Michelle D. Chief Information Officer August 18, 2026 Sell 2,500 $234.57 $586,425

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 24 trades and filings

No trades in Cardinal Health disclosed in the last 12 months; 24 earlier trades on record.

  • Marjorie Taylor Greene(R-GA 14):Purchase, $1,001 - $15,000, traded October 24, 2025, filed October 28, 2025
  • Marjorie Taylor Greene(R-GA 14):Purchase, $1,001 - $15,000, traded May 14, 2025, filed May 19, 2025
  • Marjorie Taylor Greene(R-GA 14):Purchase, $1,001 - $15,000, traded May 5, 2025, filed May 6, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 9, 2026 estimated from the company's past filing pattern, not announced

  • August 11, 2026
  • April 30, 2026
  • February 5, 2026
  • October 30, 2025
  • August 12, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Cardinal Health was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Cardinal Health in brief

What does Cardinal Health do?
Cardinal Health is a US-listed company in the health care distributors industry. Its financial year ends in June.
What is Cardinal Health's stock ticker?
Cardinal Health trades under the ticker CAH on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Cardinal Health's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Cardinal Health reported revenue of $245B, 10.1% higher than a year earlier, according to its SEC filings.
What is Cardinal Health's free cash flow?
Cardinal Health's free-cash-flow margin is 2.2% of revenue over the trailing twelve months.
Who are Cardinal Health's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Wellington Management Group LLP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Cardinal Health buying back stock, and does it pay a dividend?
Cardinal Health spent $1.1B on share repurchases over the trailing twelve months, and its diluted share count fell 2.5% over the year.
What is Cardinal Health's market cap?
On June 30, 2026, Cardinal Health's market capitalisation was about $56B, with a price-to-earnings ratio of 32.7 and net debt of $4B. Market figures come from third-party market data and may be delayed.
Does Cardinal Health pay a dividend?
Yes: Cardinal Health paid $495M in dividends over the trailing twelve months, a dividend yield of 0.82% and a payout ratio of 29.8%.
Who are Cardinal Health's competitors?
In our Health Care Distributors peer group, the companies closest to Cardinal Health are Cencora, McKesson, Henry Schein, 111, Inc. and Cosmos Health Inc. The side-by-side comparison below sets their revenue, margins and growth against Cardinal Health's.
Are insiders buying or selling Cardinal Health stock?
Over the last 12 months, Cardinal Health's directors and officers reported 0 open-market purchases and 35 sales on Form 4. The insider trading page charts every trade.
When is Cardinal Health's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Cardinal Health announces its own schedule.