NYSE: CAH
CARDINAL HEALTH INCCIK 0000721371 · SIC 5122 · Drugs & Sundries
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Cardinal Health FY26: revenue +14.2% to $254.2B, net income +9.8% to $1.71B, EPS +12.1%
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Latest financial statements
From 10-K filed Aug 11, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Earnings
(in millions, except per common share amounts)
| Description | 2026 | 2025 | 2024 |
|---|---|---|---|
| Revenue | 254,248 | 222,578 | 226,827 |
| Cost of products sold | 244,474 | 214,410 | 219,413 |
| Gross margin | 9,774 | 8,168 | 7,414 |
| Operating expenses: | |||
| Distribution, selling, general, and administrative expenses | 6,132 | 5,382 | 5,000 |
| Restructuring and employee severance | 106 | 88 | 175 |
| Amortization and other acquisition-related costs | 469 | 464 | 284 |
| Acquisition-related cash and share-based compensation costs | 287 | 126 | — |
| Impairments and (gain)/loss on disposal of assets, net | 177 | 18 | 634 |
| Litigation (recoveries)/charges, net | (10) | (185) | 78 |
| Operating earnings | 2,613 | 2,275 | 1,243 |
| Other (income)/expense, net | (31) | (41) | (9) |
| Interest expense, net | 348 | 215 | 51 |
| Impairment of equity interest in Outcomes | 122 | — | — |
| Earnings before income taxes | 2,174 | 2,101 | 1,201 |
| Provision for income taxes | 469 | 532 | 348 |
| Net earnings | 1,705 | 1,569 | 853 |
| Less: Net (earnings)/loss attributable to noncontrolling interests | 9 | (8) | (1) |
| Net earnings attributable to Cardinal Health, Inc. | 1,714 | 1,561 | 852 |
| Earnings per common share attributable to Cardinal Health, Inc. | |||
| Basic | 7.27 | 6.48 | 3.48 |
| Diluted | 7.23 | 6.45 | 3.45 |
| Weighted-average number of common shares outstanding: | |||
| Basic | 236 | 241 | 245 |
| Diluted | 237 | 242 | 247 |
Consolidated Balance Sheets
(in millions)
| Description | June 30 2026 | June 30 2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and equivalents | 4,856 | 3,874 |
| Trade receivables, net | 13,815 | 13,242 |
| Inventories, net | 17,297 | 16,831 |
| Prepaid expenses and other | 2,764 | 2,414 |
| Assets held for sale | 21 | 12 |
| Total current assets | 38,753 | 36,373 |
| Property and equipment, net | 3,031 | 2,858 |
| Goodwill and other intangibles, net | 13,631 | 12,177 |
| Other assets | 1,884 | 1,714 |
| Total assets | 57,299 | 53,122 |
| Liabilities and Shareholders’ Deficit | ||
| Current liabilities: | ||
| Accounts payable | 38,283 | 34,713 |
| Current portion of long-term obligations and other short-term borrowings | 1,882 | 550 |
| Other accrued liabilities | 3,739 | 3,634 |
| Total current liabilities | 43,904 | 38,897 |
| Long-term obligations, less current portion | 7,004 | 7,977 |
| Deferred income taxes and other liabilities | 9,115 | 8,882 |
| Shareholders’ deficit: | ||
| Preferred shares, without par value: | ||
| Authorized—500 thousand shares, Issued—none | — | — |
| Common shares, without par value: | ||
| Authorized—755 million shares, Issued— 271 million shares at June 30, 2026 and 2025 | 2,887 | 2,956 |
| Retained earnings | 2,009 | 783 |
| Common shares in treasury, at cost: 38 million shares and 32 million shares at June 30, 2026 and 2025, respectively | (7,614) | (6,365) |
| Accumulated other comprehensive loss | (165) | (155) |
| Total Cardinal Health, Inc. shareholders' deficit | (2,883) | (2,781) |
| Noncontrolling interests | 159 | 147 |
| Total shareholders’ deficit | (2,724) | (2,634) |
| Total liabilities and shareholders’ deficit | 57,299 | 53,122 |
Consolidated Statements of Cash Flows
(in millions)
| Description | 2026 | 2025 | 2024 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net earnings | 1,705 | 1,569 | 853 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 956 | 790 | 710 |
| Impairments and (gain)/loss on sale of other investments, net | 21 | 3 | 2 |
| Impairment of equity interest in Outcomes | 122 | — | — |
| Impairments and (gain)/loss on disposal of assets, net | 177 | 18 | 634 |
| Share-based compensation | 367 | 244 | 121 |
| Provision for/(benefit from) deferred income taxes | 91 | 243 | (104) |
| Provision for bad debts | 74 | 53 | 36 |
| Change in operating assets and liabilities, net of effects from acquisitions and divestitures: | |||
| Increase in trade receivables | (408) | (833) | (996) |
| (Increase)/decrease in inventories | (488) | (1,816) | 1,115 |
| Increase in accounts payable | 3,463 | 2,732 | 1,824 |
| Repurchases of liability-classified Specialty Alliance Units | (45) | (19) | — |
| Other accrued liabilities and operating items, net | (861) | (587) | (433) |
| Net cash provided by operating activities | 5,174 | 2,397 | 3,762 |
| Cash flows from investing activities: | |||
| Acquisition of subsidiaries, net of cash acquired | (1,991) | (5,250) | (1,190) |
| Additions to property and equipment | (649) | (547) | (511) |
| Proceeds from disposal of property and equipment | 31 | 3 | 12 |
| Proceeds from investments | 41 | 15 | 1 |
| Proceeds from/(payments for) net investment hedge terminations | (13) | 2 | 34 |
| Purchase of short-term time deposits | — | — | (550) |
| Proceeds from short-term investment in time deposit | — | 200 | 350 |
| Other investing items, net | (3) | (16) | 5 |
| Net cash used in investing activities | (2,584) | (5,593) | (1,849) |
| Cash flows from financing activities: | |||
| Proceeds from long-term obligations, net of issuance costs | 990 | 3,669 | 1,139 |
| Reduction of long-term obligations | (653) | (445) | (783) |
| Payments to noncontrolling interests, net | (11) | (12) | — |
| Net tax proceeds/(withholding) from share-based compensation | (79) | (13) | 46 |
| Dividends on common shares | (491) | (494) | (499) |
| Purchase of treasury shares | (1,358) | (765) | (750) |
| Net cash provided by/(used in) financing activities | (1,602) | 1,940 | (847) |
| Effect of exchange rates changes on cash and equivalents | (6) | (3) | (9) |
| Net increase/(decrease) in cash and equivalents | 982 | (1,259) | 1,057 |
| Cash and equivalents at beginning of period | 3,874 | 5,133 | 4,076 |
| Cash and equivalents at end of period | 4,856 | 3,874 | 5,133 |
| Supplemental Information: | |||
| Cash payments for interest | 406 | 315 | 214 |
| Net cash payments for income taxes | 338 | 444 | 191 |
Amounts as printed on the EDGAR/iXBRL face — (in millions, except per common share amounts); (in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗