Cardinal Health (CAH) Financials

$199.90 +4.70 (+2.41%)

Closing price 05/18/2026 03:59 PM Eastern

Extended Trading

$199.70 -0.19 (-0.10%)

As of 05:21 AM Eastern

Annual Income Statements for Cardinal Health

This table shows Cardinal Health's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	1,215	1,427	1,288	256	1,363	-3,696	611	-938	330	852	1,561
Consolidated Net Income / (Loss)	1,215	1,431	1,294	259	1,365	-3,693	612	-937	331	853	1,569
Net Income / (Loss) Continuing Operations	1,212	1,431	1,294	259	1,365	-3,693	612	-937	331	853	1,569
Total Pre-Tax Income	1,967	2,276	1,924	-228	1,751	-3,772	323	-784	663	1,201	2,101
Total Operating Income	2,161	2,459	2,120	126	2,060	-4,098	472	-607	752	1,243	2,275
Total Gross Profit	5,712	6,543	6,544	7,181	6,834	6,868	6,778	6,484	6,874	7,414	8,168
Total Revenue	102,531	121,546	129,976	136,809	145,534	152,922	162,467	181,326	204,979	226,827	222,578
Operating Revenue	102,531	121,546	129,976	136,809	145,534	152,922	162,467	181,326	204,979	226,827	222,578
Total Cost of Revenue	96,819	115,003	123,432	129,628	138,700	146,054	155,689	174,842	198,105	219,413	214,410
Operating Cost of Revenue	96,819	115,003	123,432	129,628	138,700	146,054	155,689	174,842	198,105	219,413	214,410
Total Operating Expenses	3,551	4,084	4,424	7,055	4,774	10,966	6,306	7,091	6,122	6,171	5,893
Selling, General & Admin Expense	3,240	3,648	3,775	4,596	4,480	4,572	4,533	4,512	4,800	5,000	5,382
Amortization Expense	281	459	527	707	621	524	451	324	285	284	464
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	-	0.00	0.00	126
Impairment Charge	-19	21	18	1,417	-488	7.00	79	2,060	1,246	634	18
Restructuring Charge	44	25	56	176	125	122	114	101	95	175	88
Other Special Charges / (Income)	5.00	-69	48	159	36	5,741	1,129	94	-304	78	-185
Total Other Income / (Expense), net	-194	-183	-196	-354	-309	326	-149	-177	-89	-42	-174
Interest Expense	201	178	201	331	294	254	194	157	84	51	215
Other Income / (Expense), net	7.00	-5.00	5.00	-23	-15	1.00	47	-22	-5.00	9.00	41
Income Tax Expense	755	845	630	-487	386	-79	-289	153	332	348	532
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	4.00	6.00	3.00	2.00	3.00	1.00	1.00	1.00	1.00	8.00
Basic Earnings per Share	$3.66	$4.36	$4.06	$0.82	$4.55	($12.61)	$2.09	($3.37)	$1.27	$3.48	$6.48
Weighted Average Basic Shares Outstanding	332M	327M	317M	313M	300M	293M	292M	279M	261M	245M	241M
Diluted Earnings per Share	$3.62	$4.32	$4.03	$0.81	$4.53	($12.61)	$2.08	($3.37)	$1.26	$3.45	$6.45
Weighted Average Diluted Shares Outstanding	335M	330M	320M	315M	301M	293M	294M	279M	262M	247M	242M
Weighted Average Basic & Diluted Shares Outstanding	332M	327.30M	317.20M	312.20M	299.60M	292.44M	290.44M	272.51M	250.68M	243.85M	238.79M

This table shows Cardinal Health's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-12	368	261	236	416	400	506	239	450	467	399
Consolidated Net Income / (Loss)	-11	369	262	234	417	401	508	243	454	471	380
Net Income / (Loss) Continuing Operations	-11	369	262	234	417	401	508	243	454	471	380
Total Pre-Tax Income	-44	512	342	396	541	511	665	384	598	630	392
Total Operating Income	-32	505	369	408	568	549	730	428	668	707	509
Total Gross Profit	1,743	1,854	1,935	1,853	1,902	1,941	2,123	2,202	2,319	2,397	2,498
Total Revenue	54,650	57,442	54,868	59,708	52,277	55,264	54,878	60,159	64,009	65,627	60,940
Operating Revenue	54,650	57,442	54,868	59,708	52,277	55,264	54,878	60,159	64,009	65,627	60,940
Total Cost of Revenue	52,907	55,588	52,933	57,855	50,375	53,323	52,755	57,957	61,690	63,230	58,442
Operating Cost of Revenue	52,907	55,588	52,933	57,855	50,375	53,323	52,755	57,957	61,690	63,230	58,442
Total Operating Expenses	1,775	1,349	1,566	1,445	1,334	1,392	1,393	1,774	1,651	1,690	1,989
Selling, General & Admin Expense	1,186	1,268	1,269	1,238	1,277	1,306	1,315	1,484	1,461	1,504	1,542
Amortization Expense	64	63	80	77	74	105	152	133	104	130	114
Other Operating Expenses / (Income)	-	-	0.00	-	0.00	0.00	20	-	64	67	112
Impairment Charge	541	1.00	84	12	-1.00	3.00	-17	33	2.00	-14	185
Restructuring Charge	25	28	53	69	24	9.00	28	27	20	21	25
Other Special Charges / (Income)	-41	-11	80	49	-40	-31	-105	-9.00	0.00	-18	11
Total Other Income / (Expense), net	-12	7.00	-27	-12	-27	-38	-65	-44	-70	-77	-117
Interest Expense	11	3.00	28	-4.00	32	35	74	74	80	88	101
Other Income / (Expense), net	-1.00	10	1.00	-16	5.00	-3.00	9.00	30	10	11	-16
Income Tax Expense	-33	143	80	162	124	110	157	141	144	159	12
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	1.00	1.00	-2.00	1.00	1.00	2.00	4.00	4.00	4.00	-19
Weighted Average Basic Shares Outstanding	249M	245M	243M	245M	243M	242M	240M	241M	238M	236M	235M
Weighted Average Diluted Shares Outstanding	249M	246M	245M	247M	245M	243M	241M	242M	239M	237M	236M
Weighted Average Basic & Diluted Shares Outstanding	246.47M	243.23M	243.57M	243.85M	242.01M	241.57M	238.68M	238.79M	237.60M	235.32M	234.21M
Cash Dividends to Common per Share	$0.50	$0.50	$0.50	$0.50	$0.51	$0.51	$0.51	-	$0.51	$0.51	$0.51

This table details how cash moves in and out of Cardinal Health's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Change in Cash & Equivalents	1,751	-2,260	4,523	-5,116	768	240	636	1,363	-669	1,057	-1,259
Net Cash From Operating Activities	2,540	2,971	1,184	2,768	2,722	1,960	2,429	3,175	2,844	3,762	2,397
Net Cash From Continuing Operating Activities	2,543	2,971	1,184	2,768	2,719	1,960	2,429	3,175	2,844	3,762	2,397
Net Income / (Loss) Continuing Operations	1,215	1,431	1,294	259	1,365	-3,693	612	-937	331	853	1,569
Consolidated Net Income / (Loss)	1,215	1,431	1,294	259	1,365	-3,693	612	-937	331	853	1,569
Depreciation Expense	451	641	717	1,032	1,000	913	783	692	692	710	790
Non-Cash Adjustments To Reconcile Net Income	198	205	154	1,584	-318	-360	249	2,210	1,404	793	318
Changes in Operating Assets and Liabilities, net	679	694	-981	-107	672	5,100	785	1,210	417	1,406	-280
Net Cash From Investing Activities	-849	-4,080	-405	-5,608	338	493	-378	567	-454	-1,849	-5,593
Net Cash From Continuing Investing Activities	-849	-4,080	-405	-5,608	338	493	-378	567	-454	-1,867	-5,595
Purchase of Property, Plant & Equipment	-300	-465	-387	-384	-328	-375	-400	-387	-481	-511	-547
Acquisitions	-503	-3,614	-132	-6,142	-82	0.00	-3.00	-22	-10	-1,190	-5,250
Sale and/or Maturity of Investments	243	186	305	65	3.00	886	47	100	29	34	2.00
Other Investing Activities, net	-	-	-	-	-	-	-	0.00	8.00	-200	200
Net Cash From Financing Activities	60	-1,139	3,746	-2,276	-2,293	-2,200	-1,317	-2,463	-3,051	-847	1,940
Net Cash From Continuing Financing Activities	60	-1,139	3,746	-2,276	-2,293	-2,200	-1,317	-2,463	-3,051	-847	1,940
Repayment of Debt	-1,233	-6.00	-310	-1,004	-1,102	-1,401	-570	-885	-579	-783	-445
Repurchase of Common Equity	-1,036	-651	-600	-550	-600	-350	-200	-1,000	-2,000	-750	-765
Payment of Dividends	-460	-512	-577	-581	-577	-569	-573	-559	-528	-499	-506
Issuance of Debt	2,672	26	5,174	3.00	0.00	-	-	0.00	0.00	1,139	3,669
Other Financing Activities, net	117	4.00	59	-144	-14	120	26	-19	56	46	-13
Effect of Exchange Rate Changes	0.00	-12	-2.00	4.00	1.00	-13	11	-25	-8.00	-9.00	-3.00
Cash Interest Paid	150	174	200	320	285	226	182	153	203	214	315
Cash Income Taxes Paid	529	635	686	425	311	368	273	-766	156	191	444

This table details how cash moves in and out of Cardinal Health's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-206	727	-873	1,382	-2,266	943	-484	548	719	-1,816	1,160
Net Cash From Operating Activities	528	1,179	-49	2,077	-1,647	-400	2,917	1,527	973	686	1,823
Net Cash From Continuing Operating Activities	528	1,179	-49	2,077	-1,649	-398	2,917	1,527	963	696	1,823
Net Income / (Loss) Continuing Operations	-11	369	259	234	417	401	508	243	454	471	380
Consolidated Net Income / (Loss)	-11	369	259	234	417	401	508	243	454	471	380
Depreciation Expense	172	175	177	186	182	192	207	209	233	234	248
Non-Cash Adjustments To Reconcile Net Income	579	41	131	24	44	48	27	199	103	75	344
Changes in Operating Assets and Liabilities, net	-212	594	-616	1,633	-2,292	-1,039	2,175	876	173	-84	851
Net Cash From Investing Activities	-63	-105	-1,847	166	-88	-976	-2,898	-1,631	-142	-1,980	-181
Net Cash From Continuing Investing Activities	-63	-105	-1,847	166	-88	-976	-2,898	-1,633	-142	-1,980	-181
Purchase of Property, Plant & Equipment	-92	-114	-112	-193	-90	-99	-126	-232	-108	-131	-146
Acquisitions	-	-	-	2.00	0.00	-	-2,779	-1,395	-41	-1,884	-42
Other Investing Activities, net	-	-	-	350	2.00	-	-	-	7.00	4.00	-20
Net Cash From Financing Activities	-666	-353	1,031	-859	-540	2,331	-507	656	-110	-519	-483
Net Cash From Continuing Financing Activities	-666	-353	1,031	-859	-540	2,331	-507	656	-110	-519	-483
Repayment of Debt	-7.00	-8.00	-8.00	-760	-9.00	-414	-11	-11	-512	-12	-113
Repurchase of Common Equity	-500	-250	-	-	-375	-15	-375	-	-375	-383	-250
Payment of Dividends	-131	-124	-122	-122	-128	-122	-124	-132	-132	-123	-124
Issuance of Debt	-	-	-	-	0.00	-	-	800	989	-	2.00
Other Financing Activities, net	-28	29	22	23	-28	13	3.00	-1.00	-80	-1.00	2.00

This table presents Cardinal Health's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Total Assets	30,142	34,122	40,112	39,951	40,963	40,766	44,453	43,878	43,349	45,121	53,122
Total Current Assets	21,752	21,956	28,345	24,553	25,747	25,940	31,048	32,935	33,737	34,884	36,373
Cash & Equivalents	4,616	2,356	6,879	1,763	2,531	2,771	3,407	4,717	4,076	5,133	3,874
Accounts Receivable	6,523	7,405	8,048	7,800	8,448	8,264	9,103	10,561	11,108	12,084	13,242
Inventories, net	9,211	10,615	11,301	12,308	12,822	13,198	14,594	15,636	16,119	14,957	16,831
Other Current Assets	1,402	1,580	2,117	1,926	1,946	1,707	2,843	2,021	2,294	2,663	2,414
Other Current Nonoperating Assets	-	-	0.00	756	-	0.00	1,101	0.00	140	47	12
Plant, Property, & Equipment, net	1,506	1,796	1,879	2,487	2,356	2,366	2,360	2,361	2,461	2,529	2,858
Total Noncurrent Assets	6,884	10,370	9,888	12,911	12,860	12,460	11,045	8,582	7,151	7,708	13,891
Goodwill	6,018	9,426	9,207	12,229	11,808	11,275	10,094	7,629	6,085	6,450	12,177
Other Noncurrent Operating Assets	866	944	681	682	1,052	1,185	951	953	1,066	1,258	1,714
Total Liabilities & Shareholders' Equity	30,142	34,122	40,112	39,951	40,963	40,766	44,453	43,878	43,349	45,121	53,122
Total Liabilities	23,605	27,434	33,166	33,880	34,633	38,974	42,659	44,584	46,306	48,333	55,756
Total Current Liabilities	17,243	19,701	21,221	22,893	24,109	23,615	27,624	30,550	33,740	35,640	38,897
Short-Term Debt	-	587	1,327	1,001	452	10	871	580	792	434	550
Accounts Payable	14,368	17,306	17,906	19,677	21,535	21,374	23,700	27,128	29,934	31,759	34,713
Accrued Expenses	2,594	1,808	1,988	2,002	2,122	2,231	2,957	2,842	2,972	3,447	3,634
Total Noncurrent Liabilities	6,643	7,733	11,945	10,987	10,524	15,359	15,035	14,034	12,566	12,693	16,859
Long-Term Debt	5,211	4,952	9,068	8,012	7,579	6,765	5,365	4,735	3,909	4,658	7,977
Noncurrent Deferred & Payable Income Tax Liabilities	1,432	2,781	2,877	2,975	2,945	8,594	9,670	9,299	8,657	8,035	8,882
Total Equity & Noncontrolling Interests	6,256	6,571	6,828	6,059	6,330	1,792	1,794	-706	-2,957	-3,212	-2,634
Total Preferred & Common Equity	6,256	6,554	6,808	6,059	6,328	1,789	1,791	-709	-2,958	-3,213	-2,781
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	6,256	6,554	6,808	6,059	6,328	1,789	1,791	-709	-2,958	-3,213	-2,781
Common Stock	3,003	3,010	2,697	2,730	2,763	2,789	2,806	2,813	2,746	2,917	2,956
Retained Earnings	5,521	6,419	4,967	4,645	5,434	1,170	1,205	-280	-642	-286	783
Treasury Stock	-2,245	-2,759	-731	-1,224	-1,790	-2,066	-2,186	-3,128	-4,911	-5,677	-6,365
Accumulated Other Comprehensive Income / (Loss)	-23	-116	-125	-92	-79	-104	-34	-114	-151	-167	-155
Noncontrolling Interest	0.00	17	20	0.00	2.00	3.00	3.00	3.00	1.00	1.00	147

This table presents Cardinal Health's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Total Assets	43,349	43,710	46,573	45,880	45,121	43,059	47,002	49,871	55,228	58,083	56,689
Total Current Assets	33,737	34,688	37,658	35,734	34,884	32,905	35,756	34,595	38,537	39,230	38,064
Cash & Equivalents	4,076	3,854	4,591	3,718	5,133	2,867	3,810	3,326	4,593	2,777	3,937
Accounts Receivable	11,108	11,265	11,788	11,566	12,084	11,781	12,369	12,666	13,770	13,662	13,648
Inventories, net	16,119	16,987	18,451	17,277	14,957	15,619	16,904	16,158	17,559	20,116	18,007
Other Current Assets	2,294	2,582	2,816	3,161	2,663	2,591	2,623	2,398	2,602	2,675	2,472
Other Current Nonoperating Assets	140	0.00	12	12	47	47	50	47	13	0.00	0.00
Plant, Property, & Equipment, net	2,461	2,441	2,446	2,470	2,529	2,535	2,558	2,664	2,831	2,877	2,928
Total Noncurrent Assets	7,151	6,581	6,469	7,676	7,708	7,619	8,688	12,612	13,860	15,976	15,697
Goodwill	6,085	5,432	5,371	6,507	6,450	6,388	7,436	11,014	12,110	13,978	13,698
Other Noncurrent Operating Assets	1,066	1,149	1,098	1,169	1,258	1,231	1,252	1,598	1,750	1,998	1,999
Total Liabilities & Shareholders' Equity	43,349	43,710	46,573	45,880	45,121	43,059	47,002	49,871	55,228	58,083	56,689
Total Liabilities	46,306	47,200	50,020	49,142	48,333	46,335	49,923	51,769	57,959	60,783	59,361
Total Current Liabilities	33,740	35,065	38,286	36,306	35,640	34,678	35,223	36,662	40,268	43,314	41,989
Short-Term Debt	792	788	1,188	1,187	434	940	544	543	52	680	671
Accounts Payable	29,934	31,540	34,259	32,089	31,759	30,365	31,298	32,812	36,860	38,996	37,834
Accrued Expenses	2,972	2,737	2,839	3,030	3,447	3,373	3,381	3,307	3,356	3,638	3,484
Total Noncurrent Liabilities	12,566	12,135	11,734	12,836	12,693	11,657	14,700	15,107	17,691	17,469	17,372
Long-Term Debt	3,909	3,890	3,535	4,667	4,658	4,224	7,062	7,136	8,980	8,347	8,245
Noncurrent Deferred & Payable Income Tax Liabilities	8,657	8,245	8,199	8,169	8,035	7,433	7,638	7,971	8,711	9,122	9,127
Total Equity & Noncontrolling Interests	-2,957	-3,490	-3,447	-3,262	-3,212	-3,276	-2,921	-1,898	-2,731	-2,700	-2,672
Total Preferred & Common Equity	-2,958	-3,491	-3,449	-3,265	-3,213	-3,277	-2,991	-2,948	-2,879	-2,884	-2,832
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-2,958	-3,491	-3,449	-3,265	-3,213	-3,277	-2,991	-2,948	-2,879	-2,884	-2,832
Common Stock	2,746	2,728	2,855	2,887	2,917	2,827	2,932	2,946	2,746	2,847	2,815
Retained Earnings	-642	-654	-425	-289	-286	14	283	664	1,116	1,455	1,732
Treasury Stock	-4,911	-5,400	-5,724	-5,703	-5,677	-5,963	-6,026	-6,382	-6,582	-7,033	-7,218
Accumulated Other Comprehensive Income / (Loss)	-151	-165	-155	-160	-167	-155	-180	-176	-159	-153	-161
Noncontrolling Interest	1.00	1.00	2.00	3.00	1.00	1.00	70	1,050	148	184	160

This table displays calculated financial ratios and metrics derived from Cardinal Health's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/30/2015	6/30/2016	6/30/2017	6/30/2018	6/30/2019	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.57%	18.55%	6.94%	5.26%	6.38%	5.08%	6.24%	11.61%	13.04%	10.66%	-1.87%
EBITDA Growth	9.58%	18.17%	-8.17%	-60.06%	168.28%	-204.56%	140.89%	-95.16%	2,184.13%	36.34%	58.31%
EBIT Growth	12.27%	13.19%	-13.41%	-95.15%	1,885.44%	-300.34%	112.67%	-221.19%	218.76%	67.60%	84.98%
NOPAT Growth	9.21%	16.11%	-7.78%	-93.81%	1,720.73%	-278.63%	131.18%	-147.51%	188.36%	135.15%	92.44%
Net Income Growth	4.20%	17.78%	-9.57%	-79.98%	427.03%	-370.55%	116.57%	-253.10%	135.33%	157.70%	83.94%
EPS Growth	7.10%	19.34%	-6.71%	-79.90%	459.26%	-378.37%	116.49%	-262.02%	137.39%	173.81%	86.96%
Operating Cash Flow Growth	0.63%	16.97%	-60.15%	133.78%	-1.66%	-27.99%	23.93%	30.71%	-10.43%	32.28%	-36.28%
Free Cash Flow Firm Growth	4.16%	-169.86%	169.98%	-366.86%	214.64%	23.94%	-2.94%	7.45%	-18.29%	-35.02%	-305.84%
Invested Capital Growth	-5.01%	38.40%	5.99%	22.14%	-7.42%	-51.01%	-37.58%	-102.99%	-2,150.00%	-35.80%	160.82%
Revenue Q/Q Growth	4.76%	3.26%	1.23%	1.77%	1.40%	-0.43%	3.77%	2.53%	3.20%	2.85%	0.13%
EBITDA Q/Q Growth	6.90%	4.14%	-5.42%	-56.76%	85.22%	-0.89%	-10.88%	-75.10%	12.51%	14.60%	2.68%
EBIT Q/Q Growth	8.45%	2.59%	-7.77%	-93.77%	223.58%	-0.29%	-18.01%	-42.95%	27.91%	23.72%	2.57%
NOPAT Q/Q Growth	4.52%	3.30%	-2.58%	-95.80%	15,504.10%	-0.94%	36.15%	-29.15%	-37.10%	35.39%	2.19%
Net Income Q/Q Growth	5.29%	2.88%	-4.22%	-84.79%	27,200.00%	11.14%	-46.97%	1.78%	-28.04%	37.14%	0.64%
EPS Q/Q Growth	6.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	6.37%	-7.10%	7.54%	-5.79%	-1.73%	-11.95%	21.21%	299.37%	-43.41%	47.65%	-18.80%
Free Cash Flow Firm Q/Q Growth	14.14%	-7.53%	117.67%	-12.63%	-17.33%	9.42%	10.96%	190.85%	-41.79%	454.54%	-91.57%
Invested Capital Q/Q Growth	-0.79%	0.78%	-3.80%	-14.55%	-0.37%	-5.59%	-10.16%	-104.21%	-64.86%	-189.98%	-16.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	5.57%	5.38%	5.03%	5.25%	4.70%	4.49%	4.17%	3.58%	3.35%	3.27%	3.67%
EBITDA Margin	2.55%	2.55%	2.19%	0.83%	2.09%	-2.08%	0.80%	0.03%	0.70%	0.87%	1.40%
Operating Margin	2.11%	2.02%	1.63%	0.09%	1.42%	-2.68%	0.29%	-0.33%	0.37%	0.55%	1.02%
EBIT Margin	2.11%	2.02%	1.63%	0.08%	1.41%	-2.68%	0.32%	-0.35%	0.36%	0.55%	1.04%
Profit (Net Income) Margin	1.19%	1.18%	1.00%	0.19%	0.94%	-2.42%	0.38%	-0.52%	0.16%	0.38%	0.70%
Tax Burden Percent	61.77%	62.87%	67.26%	-113.60%	77.96%	97.91%	189.47%	119.52%	49.92%	71.02%	74.68%
Interest Burden Percent	90.73%	92.75%	90.54%	-221.36%	85.62%	92.07%	62.24%	124.64%	88.76%	95.93%	90.72%
Effective Tax Rate	38.38%	37.13%	32.74%	0.00%	22.04%	0.00%	-89.47%	0.00%	50.08%	28.98%	25.32%
Return on Invested Capital (ROIC)	18.19%	18.19%	14.02%	0.76%	13.05%	-32.55%	19.00%	-24.21%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	6.44%	12.52%	10.09%	4.10%	9.11%	-49.90%	9.31%	-66.50%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	1.01%	3.92%	4.96%	3.22%	8.96%	-58.39%	15.13%	-148.03%	0.00%	0.00%	0.00%
Return on Equity (ROE)	19.20%	22.11%	18.98%	3.98%	22.01%	-90.94%	34.13%	-172.24%	-18.07%	-27.65%	-53.68%
Cash Return on Invested Capital (CROIC)	23.33%	-14.03%	8.21%	-19.17%	20.76%	35.92%	65.27%	0.00%	0.00%	0.00%	-179.77%
Operating Return on Assets (OROA)	7.72%	7.64%	5.73%	0.26%	5.05%	-10.03%	1.22%	-1.42%	1.71%	2.83%	4.71%
Return on Assets (ROA)	4.33%	4.45%	3.49%	0.65%	3.37%	-9.04%	1.44%	-2.12%	0.76%	1.93%	3.19%
Return on Common Equity (ROCE)	19.20%	21.88%	18.60%	3.93%	21.99%	-90.88%	34.08%	-171.29%	-18.09%	-27.66%	-55.04%
Return on Equity Simple (ROE_SIMPLE)	19.42%	21.83%	19.01%	4.27%	21.57%	-206.43%	34.17%	132.16%	-11.19%	-26.55%	0.00%
Net Operating Profit after Tax (NOPAT)	1,332	1,546	1,426	88	1,606	-2,869	894	-425	375	883	1,699
NOPAT Margin	1.30%	1.27%	1.10%	0.06%	1.10%	-1.88%	0.55%	-0.23%	0.18%	0.39%	0.76%
Net Nonoperating Expense Percent (NNEP)	11.75%	5.67%	3.94%	-3.34%	3.95%	17.35%	9.69%	42.29%	7.90%	13.59%	5.71%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	28.83%
Cost of Revenue to Revenue	94.43%	94.62%	94.97%	94.75%	95.30%	95.51%	95.83%	96.42%	96.65%	96.73%	96.33%
SG&A Expenses to Revenue	3.16%	3.00%	2.90%	3.36%	3.08%	2.99%	2.79%	2.49%	2.34%	2.20%	2.42%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.46%	3.36%	3.40%	5.16%	3.28%	7.17%	3.88%	3.91%	2.99%	2.72%	2.65%
Earnings before Interest and Taxes (EBIT)	2,168	2,454	2,125	103	2,045	-4,097	519	-629	747	1,252	2,316
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,619	3,095	2,842	1,135	3,045	-3,184	1,302	63	1,439	1,962	3,106
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.37	3.01	2.87	2.05	1.89	7.56	8.51	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	88.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.21	0.16	0.15	0.09	0.08	0.09	0.09	0.08	0.12	0.11	0.18
Price to Earnings (P/E)	17.34	13.84	15.20	48.62	8.80	0.00	24.95	0.00	71.49	27.96	25.61
Dividend Yield	2.22%	2.66%	2.92%	4.65%	4.75%	4.16%	3.71%	3.94%	2.15%	2.05%	1.21%
Earnings Yield	5.77%	7.23%	6.58%	2.06%	11.37%	0.00%	4.01%	0.00%	1.40%	3.58%	3.90%
Enterprise Value to Invested Capital (EV/IC)	3.04	2.34	2.22	1.54	1.48	3.03	5.00	0.00	0.00	0.00	22.31
Enterprise Value to Revenue (EV/Rev)	0.21	0.19	0.18	0.14	0.12	0.11	0.11	0.08	0.12	0.10	0.20
Enterprise Value to EBITDA (EV/EBITDA)	8.27	7.45	8.17	17.36	5.74	0.00	13.89	225.39	16.83	12.12	14.42
Enterprise Value to EBIT (EV/EBIT)	9.99	9.40	10.93	191.35	8.55	0.00	34.83	0.00	32.42	19.00	19.33
Enterprise Value to NOPAT (EV/NOPAT)	16.27	14.92	16.29	223.46	10.89	0.00	20.21	0.00	64.51	26.94	26.36
Enterprise Value to Operating Cash Flow (EV/OCF)	8.53	7.76	19.62	7.12	6.43	8.95	7.44	4.47	8.52	6.32	18.68
Enterprise Value to Free Cash Flow (EV/FCFF)	12.69	0.00	27.82	0.00	6.85	5.54	5.88	4.30	8.98	13.57	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.83	0.83	1.50	1.48	1.27	3.78	3.48	-7.53	-1.59	-1.59	-3.24
Long-Term Debt to Equity	0.83	0.74	1.31	1.32	1.20	3.78	2.99	-6.71	-1.32	-1.45	-3.03
Financial Leverage	0.16	0.31	0.49	0.79	0.98	1.17	1.63	2.23	-0.31	-0.07	-0.78
Leverage Ratio	4.44	4.96	5.44	6.15	6.52	10.06	23.76	81.19	-23.81	-14.34	-16.81
Compound Leverage Factor	4.03	4.60	4.93	-13.62	5.59	9.26	14.79	101.19	-21.14	-13.76	-15.25
Debt to Total Capital	45.44%	45.30%	59.94%	59.75%	55.92%	79.08%	77.66%	115.32%	269.55%	270.85%	144.70%
Short-Term Debt to Total Capital	0.00%	4.80%	7.65%	6.64%	3.15%	0.12%	10.85%	12.58%	45.41%	23.09%	9.33%
Long-Term Debt to Total Capital	45.44%	40.50%	52.29%	53.12%	52.77%	78.97%	66.81%	102.73%	224.14%	247.77%	135.36%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	1.10%	0.80%	0.08%	0.01%	0.04%	0.04%	0.07%	0.06%	0.05%	2.49%
Common Equity to Total Capital	54.56%	53.60%	39.26%	40.17%	44.06%	20.88%	22.30%	-15.38%	-169.61%	-170.90%	-47.19%
Debt to EBITDA	1.99	1.79	3.66	7.94	2.64	-2.13	4.79	84.37	3.27	2.60	2.75
Net Debt to EBITDA	0.23	1.03	1.24	6.39	1.81	-1.26	2.17	9.49	0.43	-0.02	1.50
Long-Term Debt to EBITDA	1.99	1.60	3.19	7.06	2.49	-2.12	4.12	75.16	2.72	2.37	2.57
Debt to NOPAT	3.91	3.58	7.29	102.19	5.00	-2.36	6.97	-12.51	12.52	5.77	5.02
Net Debt to NOPAT	0.45	2.06	2.47	82.20	3.42	-1.40	3.16	-1.41	1.66	-0.05	2.74
Long-Term Debt to NOPAT	3.91	3.20	6.36	90.84	4.72	-2.36	6.00	-11.14	10.41	5.28	4.70
Altman Z-Score	4.61	4.57	4.16	3.87	4.16	3.74	4.04	4.32	5.07	5.39	4.73
Noncontrolling Interest Sharing Ratio	0.00%	1.04%	2.00%	1.15%	0.11%	0.06%	0.17%	0.55%	-0.11%	-0.03%	-2.53%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.26	1.11	1.34	1.07	1.07	1.10	1.12	1.08	1.00	0.98	0.94
Quick Ratio	0.65	0.50	0.70	0.42	0.46	0.47	0.45	0.50	0.45	0.48	0.44
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,708	-1,193	835	-2,228	2,554	3,165	3,072	3,301	2,697	1,753	-3,608
Operating Cash Flow to CapEx	846.67%	638.92%	305.94%	720.83%	829.88%	525.47%	607.25%	891.85%	606.40%	753.91%	438.21%
Free Cash Flow to Firm to Interest Expense	8.50	-6.70	4.15	-6.73	8.69	12.46	15.84	21.03	32.11	34.37	-16.78
Operating Cash Flow to Interest Expense	12.64	16.69	5.89	8.36	9.26	7.72	12.52	20.22	33.86	73.76	11.15
Operating Cash Flow Less CapEx to Interest Expense	11.14	14.08	3.97	7.20	8.14	6.25	10.46	17.96	28.27	63.98	8.60
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	3.65	3.78	3.50	3.42	3.60	3.74	3.81	4.11	4.70	5.13	4.53
Accounts Receivable Turnover	17.23	17.45	16.82	17.27	17.91	18.30	18.71	18.44	18.92	19.56	17.58
Inventory Turnover	11.08	11.60	11.26	10.98	11.04	11.23	11.20	11.57	12.48	14.12	13.49
Fixed Asset Turnover	69.16	73.62	70.74	62.67	60.10	64.77	68.75	76.82	85.02	90.91	82.64
Accounts Payable Turnover	7.30	7.26	7.01	6.90	6.73	6.81	6.91	6.88	6.94	7.11	6.45
Days Sales Outstanding (DSO)	21.19	20.91	21.70	21.14	20.38	19.94	19.51	19.79	19.29	18.66	20.77
Days Inventory Outstanding (DIO)	32.94	31.46	32.40	33.24	33.07	32.51	32.58	31.55	29.25	25.85	27.06
Days Payable Outstanding (DPO)	49.98	50.26	52.06	52.91	54.23	53.62	52.84	53.05	52.57	51.31	56.58
Cash Conversion Cycle (CCC)	4.15	2.11	2.04	1.47	-0.79	-1.16	-0.75	-1.71	-4.02	-6.81	-8.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,132	9,871	10,462	12,778	11,830	5,796	3,618	-108	-2,430	-3,300	2,007
Invested Capital Turnover	14.01	14.30	12.78	11.77	11.83	17.35	34.52	103.32	-161.53	-79.17	-344.28
Increase / (Decrease) in Invested Capital	-376	2,739	591	2,316	-948	-6,034	-2,178	-3,726	-2,322	-870	5,307
Enterprise Value (EV)	21,667	23,062	23,226	19,709	17,490	17,538	18,078	14,199	24,217	23,784	44,776
Market Capitalization	21,072	19,745	19,572	12,447	11,988	13,531	15,246	13,598	23,591	23,824	39,976
Book Value per Share	$18.91	$20.12	$21.55	$19.50	$21.23	$6.13	$6.17	($2.60)	($11.62)	($13.19)	($11.65)
Tangible Book Value per Share	$0.72	($8.81)	($7.59)	($19.86)	($18.39)	($32.49)	($28.62)	($30.61)	($35.52)	($39.67)	($62.67)
Total Capital	11,467	12,227	17,341	15,084	14,361	8,567	8,030	4,609	1,744	1,880	5,893
Total Debt	5,211	5,539	10,395	9,013	8,031	6,775	6,236	5,315	4,701	5,092	8,527
Total Long-Term Debt	5,211	4,952	9,068	8,012	7,579	6,765	5,365	4,735	3,909	4,658	7,977
Net Debt	595	3,183	3,516	7,250	5,500	4,004	2,829	598	625	-41	4,653
Capital Expenditures (CapEx)	300	465	387	384	328	373	400	356	469	499	547
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-107	486	1,572	898	-441	-436	888	-1,752	-3,287	-5,455	-5,848
Debt-free Net Working Capital (DFNWC)	4,509	2,842	8,451	2,661	2,090	2,335	4,295	2,965	789	-322	-1,974
Net Working Capital (NWC)	4,509	2,255	7,124	1,660	1,638	2,325	3,424	2,385	-3.00	-756	-2,524
Net Nonoperating Expense (NNE)	117	115	132	-171	241	824	282	512	44	30	130
Net Nonoperating Obligations (NNO)	876	3,183	3,516	6,707	5,500	4,004	1,824	598	527	-88	4,641
Total Depreciation and Amortization (D&A)	451	641	717	1,032	1,000	913	783	692	692	710	790
Debt-free, Cash-free Net Working Capital to Revenue	-0.10%	0.40%	1.21%	0.66%	-0.30%	-0.29%	0.55%	-0.97%	-1.60%	-2.40%	-2.63%
Debt-free Net Working Capital to Revenue	4.40%	2.34%	6.50%	1.95%	1.44%	1.53%	2.64%	1.64%	0.38%	-0.14%	-0.89%
Net Working Capital to Revenue	4.40%	1.86%	5.48%	1.21%	1.13%	1.52%	2.11%	1.32%	0.00%	-0.33%	-1.13%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$4.55	($12.61)	$2.09	($3.35)	$1.00	$3.48	$6.48
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	300M	293M	292M	279M	261M	245M	241M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$4.53	($12.61)	$2.08	($3.35)	$1.00	$3.45	$6.45
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	301M	293M	294M	279M	262M	247M	242M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	298.13M	292.44M	290.44M	272.51M	250.68M	243.85M	238.79M
Normalized Net Operating Profit after Tax (NOPAT)	1,350	1,532	1,508	1,315	1,351	1,240	1,256	1,154	1,252	1,513	1,640
Normalized NOPAT Margin	1.32%	1.26%	1.16%	0.96%	0.93%	0.81%	0.77%	0.64%	0.61%	0.67%	0.74%
Pre Tax Income Margin	1.92%	1.87%	1.48%	-0.17%	1.20%	-2.47%	0.20%	-0.43%	0.32%	0.53%	0.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.79	13.79	10.57	0.31	6.96	-16.13	2.68	-4.01	8.89	24.55	10.77
NOPAT to Interest Expense	6.62	8.69	7.09	0.27	5.46	-11.29	4.61	-2.71	4.47	17.31	7.90
EBIT Less CapEx to Interest Expense	9.29	11.17	8.65	-0.85	5.84	-17.60	0.61	-6.27	3.31	14.76	8.23
NOPAT Less CapEx to Interest Expense	5.13	6.07	5.17	-0.89	4.35	-12.76	2.55	-4.97	-1.11	7.53	5.36
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	37.86%	35.78%	44.59%	224.32%	42.27%	-15.41%	93.63%	-59.66%	159.52%	58.50%	32.25%
Augmented Payout Ratio	123.13%	81.27%	90.96%	436.68%	86.23%	-24.88%	126.31%	-166.38%	763.75%	146.42%	81.01%

This table displays calculated financial ratios and metrics derived from Cardinal Health's official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	235,316,016.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	235,316,016.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.70
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	10.17%	11.61%	8.76%	11.77%	-4.34%	-3.79%	0.02%	0.49%	22.44%	18.75%	11.05%
EBITDA Growth	-54.58%	1,089.66%	-26.24%	76.22%	443.17%	6.96%	72.94%	13.82%	20.66%	29.00%	-21.67%
EBIT Growth	-124.44%	559.82%	-34.62%	157.89%	1,836.36%	6.02%	99.73%	14.50%	18.32%	31.50%	-33.29%
NOPAT Growth	-116.20%	536.92%	-23.60%	7,142.65%	2,054.52%	18.37%	97.27%	13.34%	15.84%	22.69%	-11.52%
Net Income Growth	-109.91%	383.85%	-25.36%	7,700.00%	3,890.91%	8.67%	93.89%	4.29%	8.87%	17.46%	-25.20%
EPS Growth	-112.50%	0.00%	0.00%	0.00%	3,500.00%	0.00%	0.00%	0.00%	10.59%	0.00%	0.00%
Operating Cash Flow Growth	2,195.65%	97.49%	-103.60%	140.67%	-411.93%	-133.93%	10,903.70%	-26.66%	159.08%	273.23%	-37.57%
Free Cash Flow Firm Growth	-44.22%	-22.92%	-101.30%	-52.22%	-145.56%	-220.55%	-5,504.99%	-554.13%	-84.15%	40.97%	119.89%
Invested Capital Growth	-53,220.00%	-450.83%	22.80%	-35.80%	61.52%	124.80%	311.60%	160.82%	265.20%	330.30%	-4.19%
Revenue Q/Q Growth	2.30%	5.11%	-4.41%	8.74%	-12.45%	5.71%	-0.70%	9.62%	6.40%	2.53%	-7.14%
EBITDA Q/Q Growth	-57.62%	396.40%	-18.13%	4.90%	30.62%	-2.25%	28.18%	-29.49%	36.58%	4.50%	-22.16%
EBIT Q/Q Growth	-121.71%	1,660.61%	-24.90%	4.81%	46.17%	-4.71%	35.35%	-38.02%	48.03%	5.90%	-31.34%
NOPAT Q/Q Growth	-772.92%	1,724.80%	-19.95%	-13.51%	81.60%	-1.60%	29.44%	-51.43%	87.25%	4.22%	-6.65%
Net Income Q/Q Growth	-466.67%	3,454.55%	-26.84%	-9.65%	78.21%	-3.84%	26.68%	-52.17%	86.83%	3.74%	-19.32%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-38.82%	123.30%	-104.12%	4,338.78%	-179.30%	75.71%	829.25%	-47.65%	-36.28%	-29.50%	165.74%
Free Cash Flow Firm Q/Q Growth	13.47%	16.99%	-101.86%	2,040.70%	-208.20%	-209.53%	19.69%	-68.53%	56.04%	0.79%	127.06%
Invested Capital Q/Q Growth	-9.71%	-24.79%	65.80%	-189.98%	68.91%	180.41%	191.88%	-16.65%	-15.55%	109.44%	-35.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	3.19%	3.23%	3.55%	3.10%	3.64%	3.51%	3.87%	3.66%	3.62%	3.65%	4.10%
EBITDA Margin	0.25%	1.20%	1.00%	0.97%	1.44%	1.34%	1.72%	1.11%	1.42%	1.45%	1.22%
Operating Margin	-0.06%	0.88%	0.67%	0.68%	1.09%	0.99%	1.33%	0.71%	1.04%	1.08%	0.84%
EBIT Margin	-0.06%	0.90%	0.68%	0.66%	1.10%	0.99%	1.35%	0.76%	1.06%	1.09%	0.81%
Profit (Net Income) Margin	-0.02%	0.64%	0.47%	0.39%	0.80%	0.73%	0.93%	0.40%	0.71%	0.72%	0.62%
Tax Burden Percent	25.00%	72.07%	75.95%	59.09%	77.08%	78.47%	76.39%	63.28%	75.92%	74.76%	96.94%
Interest Burden Percent	133.33%	99.42%	91.18%	101.02%	94.42%	93.59%	89.99%	83.84%	88.20%	87.74%	79.51%
Effective Tax Rate	0.00%	27.93%	24.05%	40.91%	22.92%	21.53%	23.61%	36.72%	24.08%	25.24%	3.06%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	355.72%	0.00%	554.99%	90.09%	86.11%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	354.17%	0.00%	553.40%	88.93%	83.67%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-441.34%	0.00%	-615.03%	-158.15%	-170.00%
Return on Equity (ROE)	-7.93%	-25.02%	-22.70%	-27.65%	-37.87%	-41.24%	-85.63%	-53.68%	-60.04%	-68.07%	-83.88%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-335.03%	-78.22%	-179.77%	-56.25%	-39.34%	80.04%
Operating Return on Assets (OROA)	-0.29%	4.25%	3.37%	3.37%	5.67%	4.69%	6.25%	3.45%	5.05%	5.09%	3.81%
Return on Assets (ROA)	-0.10%	3.05%	2.33%	2.01%	4.13%	3.45%	4.30%	1.83%	3.38%	3.34%	2.93%
Return on Common Equity (ROCE)	-7.93%	-25.04%	-22.72%	-27.66%	-37.88%	-41.70%	-103.10%	-55.04%	-61.53%	-71.14%	-106.09%
Return on Equity Simple (ROE_SIMPLE)	-5.99%	-20.53%	-19.05%	0.00%	-39.09%	-43.90%	-52.88%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-22	364	279	241	438	431	558	271	507	529	493
NOPAT Margin	-0.04%	0.63%	0.51%	0.40%	0.84%	0.78%	1.02%	0.45%	0.79%	0.81%	0.81%
Net Nonoperating Expense Percent (NNEP)	-0.88%	-0.58%	1.38%	3.23%	1.35%	1.54%	1.54%	1.22%	1.59%	1.15%	2.44%
Return On Investment Capital (ROIC_SIMPLE)	-	28.52%	-	-	-	9.20%	9.65%	4.60%	8.05%	8.35%	7.90%
Cost of Revenue to Revenue	96.81%	96.77%	96.45%	96.90%	96.36%	96.49%	96.13%	96.34%	96.38%	96.35%	95.90%
SG&A Expenses to Revenue	2.17%	2.21%	2.33%	2.07%	2.44%	2.36%	2.40%	2.47%	2.28%	2.29%	2.53%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.25%	2.35%	2.88%	2.42%	2.55%	2.52%	2.54%	2.95%	2.58%	2.58%	3.26%
Earnings before Interest and Taxes (EBIT)	-33	515	374	392	573	546	739	458	678	718	493
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	139	690	551	578	755	738	946	667	911	952	741
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.10	0.11	0.12	0.11	0.12	0.13	0.15	0.18	0.16	0.20	0.20
Price to Earnings (P/E)	102.05	34.55	43.60	27.96	20.96	21.72	21.30	25.61	23.42	29.30	31.90
Dividend Yield	2.35%	2.02%	1.80%	2.05%	1.82%	1.71%	1.47%	1.21%	1.30%	0.99%	0.97%
Earnings Yield	0.98%	2.89%	2.29%	3.58%	4.77%	4.60%	4.70%	3.90%	4.27%	3.41%	3.13%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	39.23	16.01	22.31	24.75	15.53	23.73
Enterprise Value to Revenue (EV/Rev)	0.11	0.11	0.13	0.10	0.13	0.15	0.17	0.20	0.18	0.23	0.22
Enterprise Value to EBITDA (EV/EBITDA)	17.34	12.88	17.07	12.12	11.30	12.33	12.75	14.42	12.86	15.86	16.74
Enterprise Value to EBIT (EV/EBIT)	38.09	20.33	28.87	19.00	15.68	17.13	17.08	19.33	17.33	21.26	23.32
Enterprise Value to NOPAT (EV/NOPAT)	92.12	33.23	44.81	26.94	22.03	23.32	23.19	26.36	23.73	29.57	30.65
Enterprise Value to Operating Cash Flow (EV/OCF)	6.58	6.24	11.47	6.32	18.35	4,045.78	13.06	18.68	8.36	9.04	10.94
Enterprise Value to Free Cash Flow (EV/FCFF)	7.60	7.09	92.43	13.57	0.00	0.00	0.00	0.00	0.00	0.00	29.01
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.34	-1.37	-1.79	-1.59	-1.58	-2.60	-4.05	-3.24	-3.31	-3.34	-3.34
Long-Term Debt to Equity	-1.11	-1.03	-1.43	-1.45	-1.29	-2.42	-3.76	-3.03	-3.29	-3.09	-3.09
Financial Leverage	-0.49	-0.31	-0.52	-0.07	-0.45	-0.61	-1.25	-0.78	-1.11	-1.78	-2.03
Leverage Ratio	-16.53	-16.09	-16.29	-14.34	-12.82	-14.69	-18.56	-16.81	-16.36	-18.70	-23.32
Compound Leverage Factor	-22.04	-16.00	-14.85	-14.49	-12.11	-13.75	-16.70	-14.09	-14.43	-16.40	-18.54
Debt to Total Capital	393.77%	370.14%	225.85%	270.85%	273.52%	162.35%	132.83%	144.70%	143.34%	142.67%	142.79%
Short-Term Debt to Total Capital	66.33%	93.10%	45.79%	23.09%	49.79%	11.61%	9.39%	9.33%	0.83%	10.75%	10.75%
Long-Term Debt to Total Capital	327.44%	277.04%	180.05%	247.77%	223.73%	150.74%	123.44%	135.36%	142.52%	131.93%	132.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.08%	0.16%	0.12%	0.05%	0.05%	1.49%	18.16%	2.49%	2.35%	2.91%	2.56%
Common Equity to Total Capital	-293.86%	-270.30%	-125.96%	-170.90%	-173.57%	-63.84%	-50.99%	-47.19%	-45.69%	-45.58%	-45.36%
Debt to EBITDA	3.68	2.48	3.42	2.60	2.00	2.90	2.54	2.75	2.77	2.60	2.73
Net Debt to EBITDA	0.65	0.07	1.25	-0.02	0.89	1.45	1.44	1.50	1.36	1.80	1.52
Long-Term Debt to EBITDA	3.06	1.86	2.73	2.37	1.64	2.69	2.36	2.57	2.75	2.40	2.52
Debt to NOPAT	19.54	6.40	8.98	5.77	3.91	5.48	4.62	5.02	5.11	4.84	4.99
Net Debt to NOPAT	3.44	0.18	3.28	-0.05	1.74	2.73	2.62	2.74	2.51	3.35	2.79
Long-Term Debt to NOPAT	16.25	4.79	7.16	5.28	3.20	5.09	4.29	4.70	5.08	4.48	4.62
Altman Z-Score	5.04	4.94	5.14	5.32	5.56	5.13	4.86	4.61	4.66	4.68	4.91
Noncontrolling Interest Sharing Ratio	-0.04%	-0.05%	-0.09%	-0.03%	-0.03%	-1.13%	-20.41%	-2.53%	-2.48%	-4.52%	-26.48%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.99	0.98	0.98	0.98	0.95	1.02	0.94	0.94	0.96	0.91	0.91
Quick Ratio	0.43	0.43	0.42	0.48	0.42	0.46	0.44	0.44	0.46	0.38	0.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,639	3,087	-57	1,111	-1,202	-3,721	-2,988	-5,036	-2,214	-2,196	594
Operating Cash Flow to CapEx	580.22%	1,043.36%	-47.12%	1,087.43%	-1,830.00%	-404.04%	2,371.54%	658.19%	900.93%	523.66%	1,248.63%
Free Cash Flow to Firm to Interest Expense	239.87	1,028.99	-1.73	0.00	-37.57	-106.32	-40.38	-68.06	-27.67	-24.96	5.89
Operating Cash Flow to Interest Expense	48.00	393.00	-1.48	0.00	-51.47	-11.43	39.42	20.64	12.16	7.80	18.05
Operating Cash Flow Less CapEx to Interest Expense	39.73	355.33	-4.64	0.00	-54.28	-14.26	37.76	17.50	10.81	6.31	16.60
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	4.82	4.74	4.94	5.13	5.17	4.75	4.64	4.53	4.77	4.66	4.71
Accounts Receivable Turnover	18.83	18.61	19.55	19.56	19.48	18.40	18.35	17.58	18.34	18.80	19.06
Inventory Turnover	12.35	11.69	12.58	14.12	13.30	12.14	12.83	13.49	13.61	12.73	14.13
Fixed Asset Turnover	87.88	90.24	91.28	90.91	90.21	88.84	86.59	82.64	87.33	90.04	89.68
Accounts Payable Turnover	6.78	6.49	6.91	7.11	7.01	6.55	6.61	6.45	6.72	6.70	6.83
Days Sales Outstanding (DSO)	19.38	19.61	18.67	18.66	18.74	19.83	19.89	20.77	19.90	19.42	19.15
Days Inventory Outstanding (DIO)	29.55	31.21	29.02	25.85	27.44	30.06	28.46	27.06	26.82	28.67	25.84
Days Payable Outstanding (DPO)	53.85	56.24	52.82	51.31	52.09	55.75	55.23	56.58	54.35	54.44	53.43
Cash Conversion Cycle (CCC)	-4.91	-5.41	-5.13	-6.81	-5.92	-5.85	-6.88	-8.76	-7.63	-6.35	-8.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-2,666	-3,327	-1,138	-3,300	-1,026	825	2,408	2,007	1,695	3,550	2,307
Invested Capital Turnover	-157.26	-109.90	-168.87	-79.17	-121.59	-177.68	350.06	-344.28	700.48	111.85	106.36
Increase / (Decrease) in Invested Capital	-2,661	-2,723	336	-870	1,640	4,152	3,546	5,307	2,721	2,725	-101
Enterprise Value (EV)	22,052	24,523	29,217	23,784	29,124	32,366	38,562	44,776	41,946	55,138	54,743
Market Capitalization	21,227	24,389	27,078	23,824	26,826	28,500	33,159	39,976	37,359	48,704	49,604
Book Value per Share	($13.93)	($13.99)	($13.42)	($13.19)	($13.44)	($12.36)	($12.20)	($11.65)	($12.06)	($12.14)	($12.03)
Tangible Book Value per Share	($35.60)	($35.79)	($40.18)	($39.67)	($39.64)	($43.08)	($57.80)	($62.67)	($62.77)	($70.97)	($70.25)
Total Capital	1,188	1,276	2,592	1,880	1,888	4,685	5,781	5,893	6,301	6,327	6,244
Total Debt	4,678	4,723	5,854	5,092	5,164	7,606	7,679	8,527	9,032	9,027	8,916
Total Long-Term Debt	3,890	3,535	4,667	4,658	4,224	7,062	7,136	7,977	8,980	8,347	8,245
Net Debt	824	132	2,136	-41	2,297	3,796	4,353	4,653	4,439	6,250	4,979
Capital Expenditures (CapEx)	91	113	104	191	90	99	123	232	108	131	146
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3,443	-4,031	-3,103	-5,455	-3,700	-2,733	-4,850	-5,848	-6,272	-6,181	-7,191
Debt-free Net Working Capital (DFNWC)	411	560	615	-322	-833	1,077	-1,524	-1,974	-1,679	-3,404	-3,254
Net Working Capital (NWC)	-377	-628	-572	-756	-1,773	533	-2,067	-2,524	-1,731	-4,084	-3,925
Net Nonoperating Expense (NNE)	-11	-5.04	20	7.09	21	30	50	28	53	58	113
Net Nonoperating Obligations (NNO)	824	120	2,124	-88	2,250	3,746	4,306	4,641	4,426	6,250	4,979
Total Depreciation and Amortization (D&A)	172	175	177	186	182	192	207	209	233	234	248
Debt-free, Cash-free Net Working Capital to Revenue	-1.64%	-1.87%	-1.41%	-2.40%	-1.65%	-1.23%	-2.18%	-2.63%	-2.68%	-2.53%	-2.87%
Debt-free Net Working Capital to Revenue	0.20%	0.26%	0.28%	-0.14%	-0.37%	0.48%	-0.69%	-0.89%	-0.72%	-1.39%	-1.30%
Net Working Capital to Revenue	-0.18%	-0.29%	-0.26%	-0.33%	-0.79%	0.24%	-0.93%	-1.13%	-0.74%	-1.67%	-1.57%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.02	$0.00	$0.00	$0.00	$1.71	$0.00	$0.00	$0.00	$1.89	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	249M	245M	243M	245M	243M	242M	240M	241M	238M	236M	235M
Adjusted Diluted Earnings per Share	$0.02	$0.00	$0.00	$0.00	$1.70	$0.00	$0.00	$0.00	$1.88	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	250M	246M	245M	247M	245M	243M	241M	242M	239M	237M	236M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	246.47M	243.23M	243.57M	243.85M	242.01M	241.57M	238.68M	238.79M	237.60M	235.32M	234.21M
Normalized Net Operating Profit after Tax (NOPAT)	345	377	444	318	425	416	486	303	524	520	708
Normalized NOPAT Margin	0.63%	0.66%	0.81%	0.53%	0.81%	0.75%	0.89%	0.50%	0.82%	0.79%	1.16%
Pre Tax Income Margin	-0.08%	0.89%	0.62%	0.66%	1.03%	0.92%	1.21%	0.64%	0.93%	0.96%	0.64%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.00	171.67	11.33	0.00	17.91	15.60	9.99	6.19	8.48	8.16	4.88
NOPAT to Interest Expense	-2.04	121.32	8.45	0.00	13.68	12.31	7.54	3.66	6.34	6.01	4.89
EBIT Less CapEx to Interest Expense	-11.27	134.00	8.18	0.00	15.09	12.77	8.32	3.05	7.13	6.67	3.44
NOPAT Less CapEx to Interest Expense	-10.31	83.65	5.30	0.00	10.87	9.48	5.87	0.52	4.99	4.52	3.44
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	247.37%	72.32%	81.35%	58.50%	38.72%	37.62%	31.82%	32.25%	31.76%	30.25%	32.56%
Augmented Payout Ratio	965.07%	284.18%	282.32%	146.42%	87.51%	67.33%	80.89%	81.01%	79.39%	97.85%	97.67%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Cardinal Health (CAH) from its quarterly statements over the last four years, focusing on revenue, profitability, and cash flow. The bullets are ordered with positives first, then neutral, then negatives.

Net income from continuing operations has trended higher in recent years, averaging around $0.40–0.50B per quarter in 2025–2026 (examples: Q1 2026 about $454M; Q2 2026 $471M; Q3 2025 $508M; Q2 2025 $401M).
Operating revenue has expanded from about $50.5B in 2023 to roughly $65.6B in 2025–2026, reflecting a stronger top line (examples: 2023 Q3 ~50.5B; 2024 Q2 ~57.4B; 2025 Q2 ~65.6B; 2026 Q2 ~65.6B).
Cash flow from continuing operating activities has been positive in the latest periods, with notable prints such as about $2.92B in Q3 2025 and $1.53B in Q4 2025, plus around $0.96B in Q1 2026 and $0.70B in Q2 2026.
Earnings per share have remained solid in the latest quarter, with Q2 2026 diluted EPS of $1.88 and basic EPS of $1.89, alongside a cash dividend per share of $0.5107.
Cash and cash equivalents declined from about $3.81B in Q2 2025 to about $2.78B in Q2 2026, indicating more cash used for investing and financing activities.
Long-term debt hovered around $8.3B–$9.0B in the period, and total liabilities were broadly in the $49B–$60B range, signaling a relatively high leverage base for the company.
Net cash from investing activities has generally been negative across periods, reflecting acquisitions and capital investments (examples: Q2 2026 around -$1.98B; Q3 2025 around -$2.90B; Q4 2024 around -$2.63B).
Net cash from financing activities has often been negative, driven by dividends and other financing outflows (examples: Q2 2026 around -$0.52B; Q4 2025 around -$0.54B).
Net change in cash and equivalents has fluctuated, including a sizable negative print in some quarters (for instance, roughly -$1.82B in a recent period), contributing to volatility in the period-end cash balance.

05/19/26 06:14 AM ETAI Generated. May Contain Errors.

Cardinal Health Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cardinal Health's fiscal year ends in June. Their fiscal year 2025 ended on June 30, 2025.

Cardinal Health's net income appears to be on a downward trend, with a most recent value of $1.57 billion in 2025, rising from $1.22 billion in 2015. The previous period was $853 million in 2024. Check out Cardinal Health's forecast to explore projected trends and price targets.

Cardinal Health's total operating income in 2025 was $2.28 billion, based on the following breakdown:

Total Gross Profit: $8.17 billion
Total Operating Expenses: $5.89 billion

Over the last 10 years, Cardinal Health's total revenue changed from $102.53 billion in 2015 to $222.58 billion in 2025, a change of 117.1%.

Cardinal Health's total liabilities were at $55.76 billion at the end of 2025, a 15.4% increase from 2024, and a 136.2% increase since 2015.

In the past 10 years, Cardinal Health's cash and equivalents has ranged from $1.76 billion in 2018 to $6.88 billion in 2017, and is currently $3.87 billion as of their latest financial filing in 2025.

Over the last 10 years, Cardinal Health's book value per share changed from 18.91 in 2015 to -11.65 in 2025, a change of -161.6%.

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Financial statements for NYSE:CAH last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Cardinal Health (CAH) Financials

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Cardinal Health (CAH) Financials

Annual Income Statements for Cardinal Health

Quarterly Income Statements for Cardinal Health

Annual Cash Flow Statements for Cardinal Health

Quarterly Cash Flow Statements for Cardinal Health

Annual Balance Sheets for Cardinal Health

Quarterly Balance Sheets for Cardinal Health

Annual Metrics And Ratios for Cardinal Health

Quarterly Metrics And Ratios for Cardinal Health

Financials Breakdown Chart

Key Financial Trends

Cardinal Health Financials - Frequently Asked Questions

When does Cardinal Health's financial year end?

How has Cardinal Health's net income changed over the last 10 years?

What is Cardinal Health's operating income?

How has Cardinal Health's revenue changed over the last 10 years?

How much debt does Cardinal Health have?

How much cash does Cardinal Health have?

How has Cardinal Health's book value per share changed over the last 10 years?

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