FirmAtlas
Company handbook · CAH · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
CAH · CIK 721371 · LATEST FILING: 10-K FY26 · FILED AUG 11, 2026
Cardinal Health, Inc.
$254.06
+0.35 (+0.14%)
Close, Oct 16, 2026 · 52-week $152–258
Last fiscal year
Cardinal Health, Inc. reported revenue of $254.2B for the year ended Jun 30, 2026 (FY26), up 14.2% from FY25. Net income was $1.7B, operating cash flow $5.2B and free cash flow $4.5B. Source: 10-K filed Aug 11, 2026.
Market cap
$60.2B
P/E
35.1
EV/EBITDA
18.0x
P/B
n/m
Div yield
0.81%
ROIC
135.8%
Revenue 1Y
14.2%/yr
EPS 1Y
12.1%/yr
Shares 1Y
−2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOJason M. Hollar
HQDublin, OH
AuditorErnst & Young LLP
Employees63,900
Year endsJune
Revenue by segment · FY26
Pharmaceutical And Specialty Solutions92%
GMPD5%
All Other Segments3%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
12.9%
39.2%
40.0%
65.8%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY25–FY26
$11.5B deployed
Capex
$1.2B
10.4%
Acquisitions
$7.2B
62.7%
Dividends
$985M
8.5%
Buybacks
$2.1B
18.4%
Operating cash flow over the period: $7.6B. Total debt changed by +$359M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY26 = year ended Jun 30, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · the latest quarter ends Dec '25, before the last annual report · change vs same quarter a year earlier
Income
Revenue
222,578
254,248+14.2%
YoY
+14.2%
Gross profit
8,168
9,774+19.7%
Gross margin
3.7%
3.8%+0.2 pp
Operating income
2,275
2,613+14.9%
Operating margin
1.0%
1.0%+0.0 pp
EBITDA
3,065
3,569+16.4%
EBITDA margin
1.4%
1.4%+0.0 pp
Interest expense
215
348+61.9%
Interest coverage
14.26x
10.26x−4.00x
Net income
1,561
1,714+9.8%
YoY
+9.8%
Net margin
0.7%
0.7%−0.0 pp
EPS (diluted, $)
6.45
7.23+12.1%
YoY
+12.1%
Balance sheet
Total assets
53,122
57,299+7.9%
Cash & short-term investments
3,874
4,856+25.3%
Accounts receivable
13,242
13,815+4.3%
Inventory
16,831
17,297+2.8%
Net PP&E
2,858
3,031+6.1%
Other assets
16,317
18,300+12.2%
Total liabilities
55,903
60,182+7.7%
Accounts payable
34,713
38,283+10.3%
Total debt
8,527
8,886+4.2%
Other liabilities
12,663
13,013+2.8%
Shareholders’ equity
(2,781)
(2,883)n/m
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,397
5,174+115.9%
Net income
1,569
1,705+8.7%
Depreciation & amortization
790
956+21.0%
Stock-based compensation
244
367+50.4%
Working capital & other
(206)
2,146n/m
Cash from investing
(5,593)
(2,584)n/m
Capex
(547)
(649)n/m
PP&E sold
3
31+933.3%
Acquisitions
(5,250)
(1,991)n/m
Other investing
201
25−87.6%
Cash from financing
1,940
(1,602)−182.6%
Debt raised
2,900
1,000−65.5%
Debt repaid
(445)
(653)n/m
Dividends
(494)
(491)n/m
Buybacks
(765)
(1,358)n/m
Other financing
744
(100)−113.4%
Net change in cash
(1,259)
982n/m
Free cash flow (OCF − capex)
1,850
4,525+144.6%
Where the cash went
Operating cash flow
2,397
5,174+115.9%
Reinvested in the business
5,797
2,640−54.5%
% of operating cash flow
241.8%
51.0%
Capex
547
649+18.6%
Acquisitions
5,250
1,991−62.1%
Free cash flow
1,850
4,525+144.6%
YoY
+144.6%
Returned to shareholders
1,259
1,849+46.9%
% of free cash flow
68.1%
40.9%
Dividends
494
491−0.6%
Buybacks
765
1,358+77.5%
Change in total debt
—
359
Cash left over
—
1,044
FCF conversion (FCF ÷ net income)
118.5%
264.0%+145.5 pp
Owner earnings
—
4,552
Owner earnings margin
—
1.8%
Buyback yield
1.9%
2.4%+0.5 pp
Returns & ratios
ROIC (all capital)
90.8%
135.8%+45.0 pp
Net debt / EBITDA
1.52x
1.13x−0.39x
Cash conversion cycle (days)
−9
−11−3 d
ROE
−56.1%
−59.5%−3.3 pp
ROA
2.9%
3.0%+0.1 pp
ROCE
16.0%
19.5%+3.5 pp
NOPAT
1,699
2,049+20.6%
Invested capital (operating)
(1,782)
(4,140)n/m
Invested capital (all)
1,872
1,147−38.7%
Reinvestment rate
—
−115.1%
Debtor days
22
20−2 d
Inventory days
29
26−3 d
Days payable
59
57−2 d
Income
Mar '25
Jun '25
Sep '25
Dec '25
Revenue
54,878
60,159
64,009
65,627
vs year-ago quarter
Gross profit
2,123
2,202
2,319
2,397
Gross margin
3.9%
3.7%
3.6%
3.7%
Operating income
730
428
668
707
Net income
506
239
450
467
vs year-ago quarter
Net margin
0.9%
0.4%
0.7%
0.7%
EPS (diluted, $)
—
0.99
1.88
—
vs year-ago quarter
Balance sheet
Mar '25
Jun '25
Sep '25
Dec '25
Total assets
49,871
53,122
55,228
58,083
Cash & equivalents
3,326
3,874
4,593
2,777
Total debt
7,679
8,527
8,980
9,027
Shareholders’ equity
(2,948)
(2,781)
(2,879)
(2,884)
Cash flow
Mar '25
Jun '25
Sep '25
Dec '25
Operating cash flow
2,913
1,527
973
686
Capex
126
232
108
131
Free cash flow
2,787
1,295
865
555
vs year-ago quarter