Cardinal Health, Inc.CAH
NYSE•Healthcare•Medical Distribution
Cardinal Health, Inc. operates as a healthcare services and products company in the United States and internationally. It operates in two segments: Pharmaceutical and Specialty Solutions, and Global Medical Products and Distribution. The company provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. It distributes branded and generic pharmaceutical, specialty pharmaceutical, and over-the-counter healthcare and consumer products. The company also provides services to pharmaceutical manufacturers and healthcare providers for specialty pharmaceutical products; pharmacy management services to hospitals; operates pharmacies, including pharmacies in community health centers; and repackages generic pharmaceuticals and over-the-counter healthcare products. In addition, it manufactures, sources, and distributes Cardinal Health branded medical, surgical, and laboratory products and devices that include exam and surgical gloves; needles, syringe, and sharps disposals; compression, incontinence, nutritional delivery, and wound care products; single-use surgical drapes, gowns, and apparel products; fluid suction and collection systems; urology products; operating room supply products; and electrode product lines. Further, the company distributes a range of national brand products, including medical, surgical, and laboratory products; provides supply chain services and solutions to hospitals, ambulatory surgery centers, clinical laboratories, and other healthcare providers; and assembles and sells sterile and non-sterile procedure kits. Additionally, it manufactures, prepares, and delivers radiopharmaceuticals; and optimizes direct shipments through integrated technology solutions. The company was incorporated in 1979 and is headquartered in Dublin, Ohio.
Cardinal Health, Inc. (CAH) reported trailing twelve months revenue of $250.74B as of March 2026, a 12.8% increase year-over-year. Quarterly revenue reached $60.94B, reflecting continued top-line momentum.
Cardinal Health, Inc. generated $1.55B in TTM net income, with quarterly EBITDA of $1.09B. The operating margin expanded from 1.2% to 1.4%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (1.4%) and net margin (0.7%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 0.9% a year ago, reflecting increased costs or interest expense.
CAH trades at a P/E of 31.2x (a premium multiple) and a P/S of 0.2x.
The company generated $1.83B in free cash flow over the trailing twelve months, a 40.5% decrease year-over-year, indicating strong cash generation ability. The balance sheet shows $56.69B in total assets with $8.24B in long-term debt against $-2.67B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~1.1% on average, but show some variability — pricing power may be sensitive to market conditions.
Limited ROE data for a reliable assessment.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~1.2% — no sign of cost or pricing stress.
FCF covers net income by 3.3x on average — earnings are well-supported by cash generation.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares decreased 3.3% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation