Cardinal Health, Inc.
- Open
- 246.11
- Day high
- 248.35
- Day low
- 246.11
- Prev close
- 245.49
- Volume
- 125K
- Mkt cap
- $57.6B
- P/E (TTM)
- 34.1
- EPS (TTM)
- $7.27
- P/B
- -20.0
- P/S
- 0.2
- Yield
- 0.83%
- Per share
- $2.05
- ▼Insiders net selling -$59.6M over the last 3 months (0 open-market buys, 31 sales)
- 🏛Institutions mixed (13F)
Cardinal Health, Inc. (CAH) is a Healthcare company listed on NYSE. The stock is up 63% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 31 sales (SEC Form 4). Drillr has 1 published research article covering CAH.
Cardinal Health, Inc. (CAH) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CAH earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 11, 2026 | $2.43 | $2.91 | +20.0% | $63.7B | -2.5% |
| Apr 30, 2026 | $2.79 | $3.17 | +13.5% | $60.9B | -1.7% |
| Feb 5, 2026 | $2.34 | $2.63 | +12.5% | $65.4B | +1.1% |
| Oct 30, 2025 | $2.18 | $2.55 | +17.1% | $64.0B | +8.8% |
| Aug 12, 2025 | $2.04 | $2.08 | +2.0% | $60.2B | -1.2% |
| May 1, 2025 | $2.17 | $2.35 | +8.1% | $54.9B | -1.0% |
| Jan 30, 2025 | $1.75 | $1.93 | +10.3% | $55.3B | -0.1% |
| Nov 1, 2024 | $1.63 | $1.88 | +15.2% | $52.3B | +1.7% |
| Aug 14, 2024 | $1.74 | $1.84 | +5.9% | $59.9B | +2.0% |
| May 2, 2024 | $1.96 | $2.08 | +6.2% | $54.9B | -2.1% |
| Feb 1, 2024 | $1.60 | $1.82 | +13.6% | $57.4B | +0.7% |
| Nov 3, 2023 | $1.40 | $1.73 | +23.6% | $54.8B | +0.0% |
CAH insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 20, 2026 | Greene Michelle D.officer: Chief Information Officer | Sell | 4,952 | $235.68 |
| Aug 20, 2026 | WEITZMAN DEBORAHofficer: CEO, PSS Segment | Sell | 281 | $237.44 |
| Aug 20, 2026 | Mayer Jessica Lofficer: Chief Legal/Compliance Officer | Sell | 10,864 | $237.31 |
| Aug 20, 2026 | Alt Aaron Eofficer: Chief Financial Officer | Sell | 12,972 | $237.26 |
| Aug 20, 2026 | Hollar Jason M.officer: Chief Executive Officer | Sell | 6,206 | $233.22 |
| Aug 20, 2026 | Hollar Jason M.officer: Chief Executive Officer | Sell | 6,244 | $237.88 |
| Aug 20, 2026 | Alt Aaron Eofficer: Chief Financial Officer | Sell | 3,115 | $234.55 |
| Aug 20, 2026 | Hollar Jason M.officer: Chief Executive Officer | Sell | 21,407 | $234.56 |
| Aug 20, 2026 | WEITZMAN DEBORAHofficer: CEO, PSS Segment | Sell | 6,665 | $235.30 |
| Aug 20, 2026 | Alt Aaron Eofficer: Chief Financial Officer | Sell | 12,228 | $235.54 |
| Aug 20, 2026 | Mason Stephen Mofficer: CEO, GMPD Segment | Sell | 12,829 | $237.26 |
| Aug 20, 2026 | Mayer Jessica Lofficer: Chief Legal/Compliance Officer | Sell | 10,246 | $235.51 |
| Aug 20, 2026 | Greene Michelle D.officer: Chief Information Officer | Sell | 2,500 | $234.57 |
| Aug 20, 2026 | Mason Stephen Mofficer: CEO, GMPD Segment | Sell | 10,876 | $236.50 |
| Aug 20, 2026 | Mason Stephen Mofficer: CEO, GMPD Segment | Sell | 8,195 | $235.62 |
Source: CAH SEC Form 4 filings, latest Aug 20, 2026. For informational purposes only — not investment advice.
See the full CAH insider & 13F page →Cardinal Health, Inc. company profile
Overview
Cardinal Health, Inc. (NYSE:CAH) is a Fortune 15 healthcare services and products company founded in 1971 and headquartered in Dublin, Ohio. Originally established as Cardinal Foods, the company transformed into a healthcare distribution giant through strategic acquisitions and organic growth over five decades. Today, Cardinal Health operates as one of the largest pharmaceutical and medical product distributors in the United States, serving hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices across North America and internationally. The company went public in 1983 and has evolved into an integrated healthcare services provider with significant scale in both pharmaceutical distribution and medical product manufacturing.
Business
Cardinal Health operates in the healthcare distribution and services industry, functioning as a critical intermediary between manufacturers and healthcare providers. The company's business is organized into two primary segments that serve distinct but complementary markets. The Pharmaceutical and Specialty Solutions segment represents approximately 90% of total revenue and focuses on the distribution of pharmaceutical products. This segment distributes branded and generic pharmaceuticals, specialty medications, over-the-counter healthcare products, and consumer goods to retail pharmacies, hospitals, and healthcare systems. The segment also operates nuclear pharmacies that prepare radiopharmaceuticals for diagnostic imaging and cancer treatment, provides medication therapy management services, and offers pharmacy management solutions to hospitals. Additionally, this segment includes specialty pharmaceutical services that support manufacturers and providers in managing complex, high-cost medications used in oncology, rare diseases, and other specialized therapeutic areas. The Medical segment, also known as Global Medical Products and Distribution (GMPD), accounts for approximately 10% of revenue and encompasses two main activities: manufacturing Cardinal Health-branded medical products and distributing national brand medical supplies. The manufacturing component produces essential medical supplies including examination and surgical gloves, needles and syringes, wound care products, surgical drapes and gowns, and various other single-use medical devices. The distribution component provides supply chain services and distributes a comprehensive range of medical, surgical, and laboratory products to hospitals, ambulatory surgery centers, and other healthcare facilities. The company also operates smaller Other segments that include at-home healthcare solutions, OptiFreight Logistics (a healthcare-focused logistics provider), and various emerging healthcare technology and services businesses. These segments collectively represent a growing portion of the business focused on expanding beyond traditional distribution into higher-value healthcare services.
Revenue model
Cardinal Health generates revenue through multiple complementary business models that leverage its position as a healthcare intermediary. The company's revenue streams are primarily based on product sales, distribution fees, and value-added services. In the pharmaceutical segment, Cardinal Health operates on thin margins typical of distribution businesses, earning revenue through the spread between wholesale acquisition costs and selling prices to customers. The company negotiates volume-based purchasing agreements with pharmaceutical manufacturers, securing favorable pricing that allows for competitive margins when selling to healthcare providers. Additional revenue comes from manufacturer fees for services such as data analytics, promotional support, and specialty pharmaceutical handling. The segment also generates revenue from generic pharmaceutical programs where Cardinal Health sources and sometimes repackages generic medications, capturing higher margins than traditional brand distribution. The medical segment operates on a different model, combining manufacturing margins with distribution fees. For Cardinal Health-branded products, the company captures manufacturing margins by producing medical supplies in its own facilities, primarily located in the United States and internationally. For distributed national brand products, the company earns traditional distribution margins and fees. The segment also provides value-added services such as supply chain consulting, inventory management, and custom procedure kit assembly, which command premium pricing. Several factors influence Cardinal Health's margins and profitability. Positive margin drivers include the company's scale advantages in purchasing negotiations, growth in higher-margin specialty pharmaceutical distribution, expansion of Cardinal Health-branded medical products, and value-added services that command premium pricing. The company's extensive distribution network and established customer relationships provide pricing power and operational efficiency. Negative margin pressures include intense competition in pharmaceutical distribution, pricing pressure from large healthcare systems and pharmacy chains, inflation in manufacturing and logistics costs, and regulatory changes affecting drug pricing. The company is also sensitive to changes in pharmaceutical utilization patterns, generic drug pricing cycles, and healthcare spending trends that can impact demand for its products and services.
Competitive moat
Cardinal Health possesses a moderate competitive moat built primarily on scale advantages, operational infrastructure, and customer relationships, though the strength of this moat varies across its business segments. The company's most significant competitive advantage lies in its extensive distribution network and established relationships with both suppliers and customers in the healthcare industry. The pharmaceutical distribution business benefits from substantial scale economies and high switching costs. Cardinal Health's massive purchasing volume provides negotiating leverage with pharmaceutical manufacturers, while its comprehensive distribution infrastructure - including specialized cold-chain storage, nuclear pharmacy capabilities, and nationwide logistics network - creates significant barriers to entry. Healthcare providers value the company's ability to provide reliable, next-day delivery of a vast array of pharmaceutical products, and the complexity of managing pharmaceutical inventory, regulatory compliance, and specialty drug handling creates customer stickiness. However, this segment faces intense competition from other large distributors like McKesson and AmerisourceBergen, limiting pricing power and keeping margins relatively thin. The medical segment's moat is more mixed. Cardinal Health's manufacturing capabilities for medical products provide some differentiation, particularly in specialized products where the company has developed proprietary technologies or established quality certifications. The company's scale in medical product distribution and its ability to provide comprehensive supply chain solutions create value for healthcare customers. However, this segment faces significant competitive pressure from both large medical device manufacturers and other distributors, and many of its products are commoditized with limited differentiation. The company's emerging growth businesses in specialty pharmaceuticals, nuclear medicine, and at-home healthcare services represent potential areas for stronger competitive positioning, as these markets often require specialized expertise and regulatory capabilities that create higher barriers to entry. Competitive threats include continued consolidation among healthcare providers increasing their negotiating power, potential disintermediation by large pharmaceutical manufacturers or technology companies, and the ongoing pressure from generic drug pricing cycles. The company's moat is also vulnerable to regulatory changes in healthcare reimbursement and drug pricing policies that could compress margins or alter competitive dynamics.
Risks & safety
Cardinal Health presents a moderate margin of safety profile with some financial concerns but reasonable operational stability. Liquidity and Solvency: - Current ratio of 0.94 indicates tight working capital management but potential liquidity concerns - Cash and short-term investments of $3.3 billion provide reasonable liquidity cushion - Negative shareholders' equity of approximately -$1.9 billion due to significant debt levels and share repurchases - Debt-to-equity ratio of -2.6 reflects high leverage relative to equity base - Strong operating cash flow generation of $2.9 billion in recent quarter supports debt service capacity Valuation Metrics: - Price-to-earnings ratio of 16.3x appears reasonable for a mature distribution business - EV/EBITDA of 12.8x suggests moderate valuation relative to cash flow generation - Free cash flow yield of approximately 7.6% based on recent quarterly performance provides decent returns Other Considerations: - Revenue concentration risk from large customer relationships, though diversified across thousands of healthcare providers - Exposure to pharmaceutical pricing cycles and healthcare policy changes - Capital-intensive business model requiring ongoing investment in distribution infrastructure - Consistent dividend payments and share repurchase programs demonstrate commitment to shareholder returns
Recent development
Over the past several years, Cardinal Health has undergone significant strategic transformation focused on portfolio optimization, operational improvement, and growth investment in higher-value healthcare services. The company has systematically divested non-core assets while investing heavily in specialty pharmaceutical services, nuclear medicine capabilities, and at-home healthcare solutions. A major strategic initiative has been the comprehensive GMPD Improvement Plan launched to address persistent challenges in the medical segment. This multi-year program targets $300 million in segment profit by fiscal 2026 through pricing optimization, cost reduction, supply chain improvements, and portfolio rationalization. The company has implemented multiple waves of price increases to offset inflation, expanded domestic manufacturing capabilities, and streamlined operations to improve efficiency. Cardinal Health has also pursued strategic acquisitions to expand its specialty healthcare capabilities. Recent acquisitions include GI Alliance (a gastroenterology services platform), Integrated Oncology Network (oncology practice support services), and Advanced Diabetes Supply Group (diabetes care products distribution). These acquisitions reflect the company's strategy to move beyond traditional distribution into higher-margin healthcare services that provide comprehensive support to specialty physician practices. The company has significantly expanded its specialty pharmaceutical and nuclear medicine capabilities, investing in advanced therapy solutions for cell and gene therapies, expanding radiopharmaceutical manufacturing, and developing comprehensive biopharma services. Cardinal Health formed a joint venture called Averon with CVS Health to enhance biosimilar sourcing and distribution capabilities, positioning the company to benefit from the growing biosimilar market. Technology and automation investments have been another key focus area, with Cardinal Health implementing artificial intelligence and machine learning across its operations to improve efficiency, enhance customer service, and optimize inventory management. The company has also invested heavily in its OptiFreight Logistics business and At-Home Solutions platform to capitalize on the growing trend toward home-based healthcare delivery. Recent earnings calls indicate management's confidence in achieving double-digit earnings per share growth in fiscal 2026, driven by continued specialty business expansion, operational improvements, and the contribution from recent acquisitions.
CAH company profile · for informational purposes only — not investment advice.
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