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-Q filed Nov 5, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Earnings (Unaudited)
(in millions, except per common share amounts)
| Description | Three months ended September 30, 2026 | Three months ended September 30, 2025 |
|---|---|---|
| Revenue | 67,513 | 64,009 |
| Cost of products sold | 64,917 | 61,690 |
| Gross margin | 2,596 | 2,319 |
| Operating expenses: | ||
| Distribution, selling, general, and administrative expenses | 1,595 | 1,461 |
| Restructuring and employee severance | 23 | 20 |
| Amortization and other acquisition-related costs | 182 | 104 |
| Acquisition-related cash and share-based compensation costs | 94 | 64 |
| Impairments and (gain)/loss on disposal of assets, net | (4) | 2 |
| Litigation (recoveries)/charges, net | (47) | — |
| Operating earnings | 753 | 668 |
| Other (income)/expense, net | (6) | (10) |
| Interest expense, net | 73 | 80 |
| Impairment of equity interest in Outcomes | (2) | — |
| Earnings before income taxes | 688 | 598 |
| Provision for income taxes | 132 | 144 |
| Net earnings | 556 | 454 |
| Less: Net earnings attributable to noncontrolling interests | (2) | (4) |
| Net earnings attributable to Cardinal Health, Inc. | 554 | 450 |
| Earnings per common share attributable to Cardinal Health, Inc.: | ||
| Basic | 2.39 | 1.89 |
| Diluted | 2.38 | 1.88 |
| Weighted-average number of common shares outstanding: | ||
| Basic | 232 | 238 |
| Diluted | 233 | 239 |
| Cash dividends declared per common share | 0.5158 | 0.5107 |
Condensed Consolidated Balance Sheets
(in millions)
| Description | September 30, 2026 (Unaudited) | June 30, 2026 |
|---|---|---|
| Current assets: | ||
| Cash and equivalents | 5,264 | 4,856 |
| Trade receivables, net | 14,542 | 13,815 |
| Inventories, net | 18,395 | 17,297 |
| Prepaid expenses and other | 2,781 | 2,764 |
| Assets held for sale | 8 | 21 |
| Total current assets | 40,990 | 38,753 |
| Property and equipment, net | 2,999 | 3,031 |
| Goodwill and other intangibles, net | 13,689 | 13,631 |
| Other assets | 1,866 | 1,884 |
| Total assets | 59,544 | 57,299 |
| Liabilities and Shareholders’ Deficit | ||
| Current liabilities: | ||
| Accounts payable | 40,937 | 38,283 |
| Current portion of long-term obligations and other short-term borrowings | 1,886 | 1,882 |
| Other accrued liabilities | 3,503 | 3,739 |
| Total current liabilities | 46,326 | 43,904 |
| Long-term obligations, less current portion | 6,929 | 7,004 |
| Deferred income taxes and other liabilities | 9,155 | 9,115 |
| 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 September 30, 2026 and June 30, 2026 | 2,773 | 2,887 |
| Retained earnings | 2,438 | 2,009 |
| Common shares in treasury, at cost: 39 million shares and 38 million shares at September 30, 2026 and June 30, 2026, respectively | (8,077) | (7,614) |
| Accumulated other comprehensive loss | (159) | (165) |
| Total Cardinal Health, Inc. shareholders' deficit | (3,025) | (2,883) |
| Noncontrolling interests | 159 | 159 |
| Total shareholders’ deficit | (2,866) | (2,724) |
| Total liabilities and shareholders’ deficit | 59,544 | 57,299 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Three months ended September 30, 2026 | Three months ended September 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net earnings | 556 | 454 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation and amortization | 247 | 233 |
| Impairments and (gain)/loss on sale of other investments, net | 16 | 5 |
| Impairment and (gain)/loss on sale of equity interest in Outcomes, net | (2) | — |
| Impairments and (gain)/loss on disposal of assets, net | (4) | 2 |
| Share-based compensation | 109 | 93 |
| Provision for bad debts | 14 | 13 |
| Change in operating assets and liabilities, net of effects from acquisitions and divestitures: | ||
| Increase in trade receivables | (734) | (539) |
| Increase in inventories | (1,171) | (736) |
| Increase in accounts payable | 2,653 | 2,147 |
| Repurchases of liability-classified Specialty Alliance Units | (4) | (16) |
| Other accrued liabilities and operating items, net | (282) | (683) |
| Net cash provided by operating activities | 1,398 | 973 |
| Cash flows from investing activities: | ||
| Acquisition of subsidiaries, net of cash acquired | (149) | (41) |
| Additions to property and equipment | (157) | (108) |
| Proceeds from investments | 34 | 9 |
| Proceeds from disposal of property and equipment | 15 | — |
| Other investing items, net | 6 | (2) |
| Net cash used in investing activities | (251) | (142) |
| Cash flows from financing activities: | ||
| Proceeds from long-term obligations, net of issuance costs | — | 989 |
| Reduction of long-term obligations | (11) | (512) |
| Payments to noncontrolling interests, net | (3) | (3) |
| Net tax withholding from share-based compensation | (102) | (80) |
| Dividends on common shares | (126) | (129) |
| Purchase of treasury shares | (500) | (375) |
| Net cash used in financing activities | (742) | (110) |
| Effect of exchange rates changes on cash and equivalents | 3 | (2) |
| Net increase in cash and equivalents | 408 | 719 |
| Cash and equivalents at beginning of period | 4,856 | 3,874 |
| Cash and equivalents at end of period | 5,264 | 4,593 |
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 ↗