NYSE : CAH
Cardinal Health, Inc. — Financial statements
Healthcare · Medical Distribution · United States
Last price 250.48 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 58.00B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Cardinal Health, Inc. (CAH) reported revenue of 254.25B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 254.25B | 254.25B | 222.58B | 226.83B | 204.98B | 181.33B |
| Cost of Revenue | 244.47B | 244.47B | 214.41B | 219.41B | 198.10B | 174.84B |
| Gross Profit | 9.77B | 9.77B | 8.17B | 7.41B | 6.87B | 6.48B |
| Selling, General & Admin | 6.12B | 6.12B | 5.38B | 5.00B | 4.80B | 4.51B |
| Amortization of Goodwill & Intangibles | 361.00M | 361.00M | 303.00M | 284.00M | 285.00M | 324.00M |
| Operating Expenses | 6.49B | 6.49B | 5.68B | 5.28B | 5.08B | 4.84B |
| Operating Income | 3.29B | 3.29B | 2.49B | 2.13B | 1.79B | 1.65B |
| Interest Expense | -348.00M | -348.00M | -215.00M | -51.00M | -84.00M | -147.00M |
| Currency Exchange Gain (Loss) | -4.00M | -4.00M | -6.00M | 1.00M | -7.00M | |
| Other Non Operating Income (Expenses) | 35.00M | 35.00M | 47.00M | 8.00M | 2.00M | -22.00M |
| EBT Excluding Unusual Items | 2.97B | 2.97B | 2.31B | 2.09B | 1.70B | 1.48B |
| Merger & Restructuring Charges | -508.00M | -508.00M | -378.00M | -175.00M | -95.00M | -101.00M |
| Impairment of Goodwill | -184.00M | -184.00M | -675.00M | -1.20B | -2.10B | |
| Gain (Loss) on Sale of Investments | -122.00M | -122.00M | 2.00M | |||
| Asset Writedown | 7.00M | 7.00M | -18.00M | 41.00M | -46.00M | 40.00M |
| Legal Settlements | 10.00M | 10.00M | 185.00M | -78.00M | 304.00M | -94.00M |
| Other Unusual Items | -10.00M | |||||
| Pretax Income | 2.17B | 2.17B | 2.10B | 1.20B | 663.00M | -784.00M |
| Income Tax Expense | 469.00M | 469.00M | 532.00M | 348.00M | 332.00M | 153.00M |
| Earnings From Continuing Operations | 1.71B | 1.71B | 1.57B | 853.00M | 331.00M | -937.00M |
| Minority Interest in Earnings | 9.00M | 9.00M | -8.00M | -1.00M | -1.00M | -1.00M |
| Net Income | 1.71B | 1.71B | 1.56B | 852.00M | 330.00M | -938.00M |
| Net Income to Common | 1.71B | 1.71B | 1.56B | 852.00M | 330.00M | -938.00M |
| Shares Outstanding (Basic) | 236.00M | 236.00M | 241.00M | 245.00M | 261.00M | 279.00M |
| Shares Outstanding (Diluted) | 237.00M | 237.00M | 242.00M | 247.00M | 262.00M | 279.00M |
| EPS (Basic) | 7.26 | 7.26 | 6.48 | 3.48 | 1.26 | -3.36 |
| EPS (Diluted) | 7.23 | 7.23 | 6.45 | 3.45 | 1.26 | -3.37 |
| Free Cash Flow | 4.53B | 4.53B | 1.85B | 3.25B | 2.36B | 2.79B |
| Free Cash Flow Per Share | 19.09 | 19.09 | 7.64 | 13.16 | 9.02 | 9.99 |
| Dividend Per Share | 2.05 | 2.05 | 2.03 | 2.01 | 1.99 | 1.97 |
| Gross Margin | 3.84% | 3.84% | 3.67% | 3.27% | 3.35% | 3.58% |
| Operating Margin | 1.29% | 1.29% | 1.12% | 0.94% | 0.87% | 0.91% |
| Profit Margin | 0.67% | 0.67% | 0.70% | 0.38% | 0.16% | -0.52% |
| Free Cash Flow Margin | 1.78% | 1.78% | 0.83% | 1.43% | 1.15% | 1.54% |
| EBITDA | 4.24B | 4.24B | 3.28B | 2.84B | 2.48B | 2.34B |
| EBITDA Margin | 1.67% | 1.67% | 1.47% | 1.25% | 1.21% | 1.29% |
| D&A For EBITDA | 956.00M | 956.00M | 790.00M | 710.00M | 692.00M | 692.00M |
| EBIT | 3.29B | 3.29B | 2.49B | 2.13B | 1.79B | 1.65B |
| EBIT Margin | 1.29% | 1.29% | 1.12% | 0.94% | 0.87% | 0.91% |
| Effective Tax Rate | 21.57% | 21.57% | 25.32% | 28.98% | 50.08% |
Balance sheet
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.86B | 4.86B | 3.87B | 5.13B | 4.08B | 4.72B |
| Short-Term Investments | 200.00M | |||||
| Cash & Short-Term Investments | 4.86B | 4.86B | 3.87B | 5.33B | 4.08B | 4.72B |
| Receivables | 13.82B | 13.82B | 13.25B | 12.10B | 11.12B | 10.57B |
| Inventory | 17.30B | 17.30B | 16.83B | 14.96B | 16.12B | 15.64B |
| Prepaid Expenses | 2.76B | 2.76B | 2.41B | 2.45B | 2.29B | 1.97B |
| Other Current Assets | 21.00M | 21.00M | 12.00M | 47.00M | 140.00M | 36.00M |
| Total Current Assets | 38.75B | 38.75B | 36.37B | 34.88B | 33.74B | 32.94B |
| Property, Plant & Equipment | 4.02B | 4.02B | 3.62B | 3.00B | 2.90B | 2.82B |
| Long-Term Investments | 3.00M | 3.00M | 14.00M | 3.00M | ||
| Goodwill | 11.44B | 11.44B | 9.69B | 4.72B | 4.61B | 5.86B |
| Other Intangible Assets | 2.19B | 2.19B | 2.49B | 1.73B | 1.47B | 1.77B |
| Long-Term Accounts Receivable | 25.00M | 25.00M | 25.00M | 29.00M | 47.00M | 51.00M |
| Long-Term Deferred Tax Assets | 63.00M | 63.00M | 64.00M | 72.00M | 53.00M | 36.00M |
| Other Long-Term Assets | 802.00M | 802.00M | 853.00M | 679.00M | 531.00M | 409.00M |
| Total Assets | 57.30B | 57.30B | 53.12B | 45.12B | 43.35B | 43.88B |
| Accounts Payable | 38.28B | 38.28B | 34.71B | 31.76B | 29.93B | 27.13B |
| Accrued Expenses | 3.07B | 3.07B | 3.47B | 3.33B | 2.87B | 2.69B |
| Current Portion of Long-Term Debt | 1.84B | 1.84B | 506.00M | 401.00M | 765.00M | 600.00M |
| Current Portion of Leases | 246.00M | 246.00M | 208.00M | 150.00M | 127.00M | 125.00M |
| Other Current Liabilities | 468.00M | 468.00M | 42.00M | 3.00M | ||
| Total Current Liabilities | 43.90B | 43.90B | 38.90B | 35.64B | 33.74B | 30.55B |
| Long-Term Debt | 6.91B | 6.91B | 7.86B | 4.68B | 3.94B | 4.69B |
| Long-Term Leases | 1.00B | 1.00B | 811.00M | 475.00M | 434.00M | 437.00M |
| Long-Term Deferred Tax Liabilities | 8.20B | 8.20B | 8.16B | 2.04B | 2.06B | 2.03B |
| Other Long-Term Liabilities | 7.00M | 7.00M | 25.00M | 5.50B | 6.13B | 6.88B |
| Total Liabilities | 60.02B | 60.02B | 55.76B | 48.33B | 46.31B | 44.58B |
| Common Stock | 2.89B | 2.89B | 2.96B | 2.92B | 2.75B | 2.81B |
| Retained Earnings | 2.01B | 2.01B | 783.00M | -286.00M | -642.00M | -280.00M |
| Treasury Stock | -7.61B | -7.61B | -6.37B | -5.68B | -4.91B | -3.13B |
| Comprehensive Income & Other | -165.00M | -165.00M | -155.00M | -167.00M | -151.00M | -114.00M |
| Total Common Equity | -2.88B | -2.88B | -2.78B | -3.21B | -2.96B | -709.00M |
| Minority Interest | 159.00M | 159.00M | 147.00M | 1.00M | 1.00M | 3.00M |
| Shareholders' Equity | -2.72B | -2.72B | -2.63B | -3.21B | -2.96B | -706.00M |
| Total Liabilities & Equity | 57.30B | 57.30B | 53.12B | 45.12B | 43.35B | 43.88B |
| Total Debt | 10.00B | 10.00B | 9.39B | 5.70B | 5.27B | 5.85B |
| Net Cash (Debt) | -5.14B | -5.14B | -5.51B | -370.00M | -1.19B | -1.13B |
| Net Cash Per Share | -21.70 | -21.70 | -22.79 | -1.50 | -4.55 | -4.05 |
| Filing Date Shares Outstanding | 232.58M | 232.58M | 238.79M | 243.85M | 250.68M | 272.51M |
| Total Common Shares Outstanding | 233.00M | 233.00M | 239.00M | 244.00M | 251.00M | 273.00M |
| Working Capital | -5.15B | -5.15B | -2.52B | -756.00M | -3.00M | 2.38B |
| Book Value Per Share | -12.37 | -12.37 | -11.64 | -13.17 | -11.78 | -2.60 |
| Tangible Book Value | -16.51B | -16.51B | -14.96B | -9.66B | -9.04B | -8.34B |
| Tangible Book Value Per Share | -70.88 | -70.88 | -62.59 | -39.60 | -36.03 | -30.54 |
| Land | 2.08B | 2.08B | 1.94B | 1.88B | 1.79B | 1.72B |
| Machinery | 3.15B | 3.15B | 3.06B | 2.50B | 2.31B | 2.24B |
| Construction In Progress | 698.00M | 698.00M | 577.00M | 577.00M | 516.00M | 358.00M |
Cash flow statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 1.71B | 1.71B | 1.56B | 852.00M | 330.00M | -938.00M |
| Depreciation & Amortization | 956.00M | 956.00M | 790.00M | 710.00M | 692.00M | 692.00M |
| Asset Writedown & Restructuring Costs | 177.00M | 177.00M | 18.00M | 634.00M | 1.25B | 2.06B |
| Loss (Gain) From Sale of Investments | 143.00M | 143.00M | 3.00M | 2.00M | 7.00M | 22.00M |
| Stock-Based Compensation | 367.00M | 367.00M | 244.00M | 121.00M | 96.00M | 81.00M |
| Provision & Write-off of Bad Debts | 74.00M | 74.00M | 53.00M | 36.00M | 55.00M | 23.00M |
| Other Operating Activities | 82.00M | 82.00M | 251.00M | -103.00M | -39.00M | 25.00M |
| Change in Accounts Receivable | -408.00M | -408.00M | -833.00M | -996.00M | -950.00M | -1.41B |
| Change in Inventory | -488.00M | -488.00M | -1.82B | 1.11B | -412.00M | -1.20B |
| Change in Accounts Payable | 3.46B | 3.46B | 2.73B | 1.82B | 2.82B | 3.56B |
| Change in Other Net Operating Assets | -906.00M | -906.00M | -606.00M | -433.00M | -997.00M | 264.00M |
| Operating Cash Flow | 5.17B | 5.17B | 2.40B | 3.76B | 2.84B | 3.17B |
| Capital Expenditures | -649.00M | -649.00M | -547.00M | -511.00M | -481.00M | -387.00M |
| Sale of Property, Plant & Equipment | 31.00M | 31.00M | 3.00M | 12.00M | 31.00M | |
| Cash Acquisitions | -1.99B | -1.99B | -5.25B | -1.19B | -10.00M | -22.00M |
| Divestitures | 923.00M | |||||
| Investment in Securities | 41.00M | 41.00M | 215.00M | -199.00M | -49.00M | |
| Other Investing Activities | -16.00M | -16.00M | -14.00M | 39.00M | 37.00M | 71.00M |
| Investing Cash Flow | -2.58B | -2.58B | -5.59B | -1.85B | -454.00M | 567.00M |
| Long-Term Debt Issued | 990.00M | 990.00M | 3.67B | 1.14B | ||
| Total Debt Issued | 990.00M | 990.00M | 3.67B | 1.14B | ||
| Long-Term Debt Repaid | -653.00M | -653.00M | -445.00M | -783.00M | -579.00M | -885.00M |
| Total Debt Repaid | -653.00M | -653.00M | -445.00M | -783.00M | -579.00M | -885.00M |
| Net Debt Issued (Repaid) | 337.00M | 337.00M | 3.22B | 356.00M | -579.00M | -885.00M |
| Issuance of Common Stock | 46.00M | 56.00M | ||||
| Repurchase of Common Stock | -1.44B | -1.44B | -778.00M | -750.00M | -2.00B | -1.02B |
| Common Dividends Paid | -491.00M | -491.00M | -494.00M | -499.00M | -525.00M | -559.00M |
| Other Financing Activities | -11.00M | -11.00M | -12.00M | -3.00M | ||
| Financing Cash Flow | -1.60B | -1.60B | 1.94B | -847.00M | -3.05B | -2.46B |
| Foreign Exchange Rate Adjustments | -6.00M | -6.00M | -3.00M | -9.00M | -8.00M | -25.00M |
| Miscellaneous Cash Flow Adjustments | 109.00M | |||||
| Net Cash Flow | 982.00M | 982.00M | -1.26B | 1.06B | -669.00M | 1.36B |
| Free Cash Flow | 4.53B | 4.53B | 1.85B | 3.25B | 2.36B | 2.79B |
| Free Cash Flow Margin | 1.78% | 1.78% | 0.83% | 1.43% | 1.15% | 1.54% |
| Free Cash Flow Per Share | 19.09 | 19.09 | 7.64 | 13.16 | 9.02 | 9.99 |
| Levered Free Cash Flow | 4.75B | 4.75B | 2.05B | 3.98B | 2.95B | 3.92B |
| Unlevered Free Cash Flow | 4.97B | 4.97B | 2.19B | 4.01B | 3.01B | 4.02B |
| Cash Interest Paid | 406.00M | 406.00M | 315.00M | 214.00M | 203.00M | 153.00M |
| Cash Income Tax Paid | 338.00M | 338.00M | 444.00M | 191.00M | 156.00M | -766.00M |
| Change in Working Capital | 1.66B | 1.66B | -523.00M | 1.51B | 457.00M | 1.21B |
Ratios
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 58.61B | 55.64B | 40.10B | 23.95B | 24.08B | 14.24B |
| Enterprise Value | 63.75B | 60.78B | 45.50B | 26.09B | 24.82B | 17.50B |
| Last Close Price | 250.48 | 236.49 | 165.38 | 95.09 | 90.08 | 48.53 |
| PE Ratio | 35.01 | 32.46 | 25.69 | 28.11 | 72.96 | |
| Forward PE | 20.18 | 20.44 | 18.60 | 13.43 | 14.77 | 9.77 |
| PS Ratio | 0.23 | 0.22 | 0.18 | 0.11 | 0.12 | 0.08 |
| PB Ratio | -20.43 | -15.22 | -7.46 | -8.14 | -20.17 | |
| P/FCF Ratio | 13.01 | 12.30 | 21.67 | 7.37 | 10.19 | 5.11 |
| P/OCF Ratio | 11.38 | 10.75 | 16.73 | 6.37 | 8.47 | 4.49 |
| PEG Ratio | 1.34 | 1.20 | 1.39 | 1.01 | 1.06 | 11.42 |
| EV/Sales Ratio | 0.25 | 0.24 | 0.20 | 0.12 | 0.12 | 0.10 |
| EV/EBITDA Ratio | 15.08 | 14.32 | 13.89 | 9.19 | 10.01 | 7.48 |
| EV/EBIT Ratio | 19.47 | 18.48 | 18.30 | 12.25 | 13.88 | 10.62 |
| EV/FCF Ratio | 14.15 | 13.43 | 24.59 | 8.02 | 10.51 | 6.28 |
| Debt / Equity Ratio | -3.67 | -3.67 | -3.56 | -1.78 | -1.78 | -8.28 |
| Debt / EBITDA Ratio | 2.20 | 2.20 | 2.70 | 1.91 | 2.02 | 2.37 |
| Debt / FCF Ratio | 2.21 | 2.21 | 5.08 | 1.75 | 2.23 | 2.10 |
| Net Debt / Equity Ratio | -1.89 | -1.89 | -2.09 | -0.12 | -0.40 | -1.60 |
| Net Debt / EBITDA Ratio | 1.21 | 1.21 | 1.68 | 0.13 | 0.48 | 0.48 |
| Net Debt / FCF Ratio | 1.14 | 1.14 | 2.98 | 0.11 | 0.51 | 0.41 |
| Asset Turnover | 4.61 | 4.61 | 4.53 | 5.13 | 4.70 | 4.11 |
| Inventory Turnover | 14.33 | 14.33 | 13.49 | 14.12 | 12.48 | 11.57 |
| Quick Ratio | 0.42 | 0.42 | 0.44 | 0.49 | 0.45 | 0.50 |
| Current Ratio | 0.88 | 0.88 | 0.94 | 0.98 | 1.00 | 1.08 |
| Return on Equity (ROE) | -172.24% | |||||
| Return on Assets (ROA) | 3.72% | 3.72% | 3.16% | 3.01% | 2.56% | 2.33% |
| Return on Invested Capital (ROIC) | 18.36% | 18.67% | 15.66% | 15.85% | 7.79% | 17.88% |
| Return on Capital Employed (ROCE) | 24.50% | 24.50% | 17.50% | 22.50% | 18.60% | 12.40% |
| Earnings Yield | 2.86% | 3.08% | 3.89% | 3.56% | 1.37% | -6.59% |
| FCF Yield | 7.69% | 8.13% | 4.61% | 13.58% | 9.81% | 19.58% |
| Dividend Yield | 0.82% | 0.86% | 1.21% | 2.04% | 2.07% | 3.77% |
| Payout Ratio | 28.54% | 28.65% | 31.65% | 58.57% | 159.09% | |
| Buyback Yield / Dilution | 2.07% | 2.07% | 2.02% | 5.73% | 6.09% | 5.10% |
| Total Shareholder Return | 2.88% | 2.92% | 3.23% | 7.77% | 8.16% | 8.88% |