Cardinal Health (CAH)
Market Price (3/31/2026): $204.8 | Market Cap: $48.3 BilSector: Health Care | Industry: Health Care Distributors
Cardinal Health (CAH)
Market Price (3/31/2026): $204.8Market Cap: $48.3 BilSector: Health CareIndustry: Health Care Distributors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldFCF Yield is 11% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 29x |
| Attractive cash flow generationCFO LTM is 6.1 Bil, FCF LTM is 5.5 Bil | Key risksCAH key risks include [1] substantial financial and operational strain from ongoing, Show more. |
| Low stock price volatilityVol 12M is 30% | |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and E-commerce & DTC Adoption. Themes include Geriatric Care, Oncology Treatments, Show more. |
| Attractive yieldFCF Yield is 11% |
| Attractive cash flow generationCFO LTM is 6.1 Bil, FCF LTM is 5.5 Bil |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Aging Population & Chronic Disease, and E-commerce & DTC Adoption. Themes include Geriatric Care, Oncology Treatments, Show more. |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 29x |
| Key risksCAH key risks include [1] substantial financial and operational strain from ongoing, Show more. |
Qualitative Assessment
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Cardinal Health (CAH) stock has lost about 5% since 11/30/2025 because of the following key factors:
1. Consistent Strong Financial Performance and Upward Revised Outlook: Cardinal Health reported robust financial results during the period, with Q1 FY2026 non-GAAP diluted EPS increasing 36% to $2.55, and Q2 FY2026 EPS reaching $2.63, surpassing analysts' estimates of $2.31. The company subsequently raised its fiscal year 2026 non-GAAP EPS guidance twice, first to a range of $9.65 to $9.85 in October 2025, and then further to at least $10.00 in January 2026, signaling sustained operational strength. This consistent outperformance likely provided a strong floor for the stock.
2. Strategic Growth in Specialty and BioPharma Solutions: The company actively pursued and highlighted strategic growth areas, notably completing the acquisition of Solaris Health in early November 2025 to accelerate its specialty growth strategy. Cardinal Health projected its Specialty revenues to exceed $50 billion in fiscal year 2026, representing a 16% compound annual growth rate over three years, with BioPharma Solutions anticipating over 30% revenue expansion in fiscal 2026. These initiatives generated positive long-term sentiment, counterbalancing short-term volatility.
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1. Consistent Strong Financial Performance and Upward Revised Outlook: Cardinal Health reported robust financial results during the period, with Q1 FY2026 non-GAAP diluted EPS increasing 36% to $2.55, and Q2 FY2026 EPS reaching $2.63, surpassing analysts' estimates of $2.31. The company subsequently raised its fiscal year 2026 non-GAAP EPS guidance twice, first to a range of $9.65 to $9.85 in October 2025, and then further to at least $10.00 in January 2026, signaling sustained operational strength. This consistent outperformance likely provided a strong floor for the stock.
2. Strategic Growth in Specialty and BioPharma Solutions: The company actively pursued and highlighted strategic growth areas, notably completing the acquisition of Solaris Health in early November 2025 to accelerate its specialty growth strategy. Cardinal Health projected its Specialty revenues to exceed $50 billion in fiscal year 2026, representing a 16% compound annual growth rate over three years, with BioPharma Solutions anticipating over 30% revenue expansion in fiscal 2026. These initiatives generated positive long-term sentiment, counterbalancing short-term volatility.
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Stock Movement Drivers
Fundamental Drivers
The -2.6% change in CAH stock from 11/30/2025 to 3/30/2026 was primarily driven by a -7.3% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 3302026 | Change |
|---|---|---|---|
| Stock Price ($) | 211.73 | 206.31 | -2.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 234,310 | 244,673 | 4.4% |
| Net Income Margin (%) | 0.7% | 0.7% | -0.2% |
| P/E Multiple | 31.6 | 29.3 | -7.3% |
| Shares Outstanding (Mil) | 238 | 236 | 0.8% |
| Cumulative Contribution | -2.6% |
Market Drivers
11/30/2025 to 3/30/2026| Return | Correlation | |
|---|---|---|
| CAH | -2.6% | |
| Market (SPY) | -5.3% | 10.8% |
| Sector (XLV) | -8.4% | 16.9% |
Fundamental Drivers
The 39.5% change in CAH stock from 8/31/2025 to 3/30/2026 was primarily driven by a 29.9% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 3302026 | Change |
|---|---|---|---|
| Stock Price ($) | 147.93 | 206.31 | 39.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 222,578 | 244,673 | 9.9% |
| Net Income Margin (%) | 0.7% | 0.7% | -3.1% |
| P/E Multiple | 22.6 | 29.3 | 29.9% |
| Shares Outstanding (Mil) | 238 | 236 | 0.8% |
| Cumulative Contribution | 39.5% |
Market Drivers
8/31/2025 to 3/30/2026| Return | Correlation | |
|---|---|---|
| CAH | 39.5% | |
| Market (SPY) | 0.6% | -0.1% |
| Sector (XLV) | 5.6% | 21.1% |
Fundamental Drivers
The 61.3% change in CAH stock from 2/28/2025 to 3/30/2026 was primarily driven by a 24.2% change in the company's P/E Multiple.| (LTM values as of) | 2282025 | 3302026 | Change |
|---|---|---|---|
| Stock Price ($) | 127.88 | 206.31 | 61.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 222,276 | 244,673 | 10.1% |
| Net Income Margin (%) | 0.6% | 0.7% | 15.1% |
| P/E Multiple | 23.6 | 29.3 | 24.2% |
| Shares Outstanding (Mil) | 242 | 236 | 2.5% |
| Cumulative Contribution | 61.3% |
Market Drivers
2/28/2025 to 3/30/2026| Return | Correlation | |
|---|---|---|
| CAH | 61.3% | |
| Market (SPY) | 9.8% | 22.4% |
| Sector (XLV) | -1.7% | 30.5% |
Fundamental Drivers
The 187.5% change in CAH stock from 2/28/2023 to 3/30/2026 was primarily driven by a 105.1% change in the company's P/S Multiple.| (LTM values as of) | 2282023 | 3302026 | Change |
|---|---|---|---|
| Stock Price ($) | 71.75 | 206.31 | 187.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 192,973 | 244,673 | 26.8% |
| P/S Multiple | 0.1 | 0.2 | 105.1% |
| Shares Outstanding (Mil) | 261 | 236 | 10.6% |
| Cumulative Contribution | 187.5% |
Market Drivers
2/28/2023 to 3/30/2026| Return | Correlation | |
|---|---|---|
| CAH | 187.5% | |
| Market (SPY) | 69.4% | 20.0% |
| Sector (XLV) | 18.9% | 34.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CAH Return | -0% | 54% | 34% | 19% | 76% | 1% | 335% |
| Peers Return | 18% | 13% | 10% | 4% | 23% | -3% | 83% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -7% | 70% |
Monthly Win Rates [3] | |||||||
| CAH Win Rate | 42% | 67% | 58% | 50% | 75% | 67% | |
| Peers Win Rate | 55% | 57% | 57% | 53% | 62% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| CAH Max Drawdown | -12% | -2% | -10% | -6% | 0% | -2% | |
| Peers Max Drawdown | -6% | -11% | -12% | -6% | -8% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MCK, COR, BDX, HSIC, MDT. See CAH Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/30/2026 (YTD)
How Low Can It Go
| Event | CAH | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -26.0% | -25.4% |
| % Gain to Breakeven | 35.2% | 34.1% |
| Time to Breakeven | 132 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -32.1% | -33.9% |
| % Gain to Breakeven | 47.4% | 51.3% |
| Time to Breakeven | 368 days | 148 days |
| 2018 Correction | ||
| % Loss | -48.8% | -19.8% |
| % Gain to Breakeven | 95.2% | 24.7% |
| Time to Breakeven | 1,596 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -62.3% | -56.8% |
| % Gain to Breakeven | 165.3% | 131.3% |
| Time to Breakeven | 1,785 days | 1,480 days |
Compare to MCK, COR, BDX, HSIC, MDT
In The Past
Cardinal Health's stock fell -26.0% during the 2022 Inflation Shock from a high on 5/4/2021. A -26.0% loss requires a 35.2% gain to breakeven.
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About Cardinal Health (CAH)
Cardinal Health, Inc. operates as an integrated healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home. The company operates in two segments, Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, and over-the-counter healthcare and consumer products. The segment also provides services to pharmaceutical manufacturers and healthcare providers for specialty pharmaceutical products; operates nuclear pharmacies and radiopharmaceutical manufacturing facilities; repackages generic pharmaceuticals and over-the-counter healthcare products; and offers medication therapy management and patient outcomes services to hospitals, other healthcare providers, and payers, as well as provides pharmacy management services to hospitals. The Medical segment 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; compressions; incontinences; nutritional delivery products; wound care products; single-use surgical drapes, gowns, and apparels; fluid suction and collection systems; urology products; operating room supply products; and electrode product lines. The segment also 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. It has a collaboration agreement with Journey Biosciences, Inc. Cardinal Health, Inc. was founded in 1979 and is headquartered in Dublin, Ohio.
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- Sysco for hospitals and pharmacies.
- The Amazon for hospitals and pharmacies' medical and pharmaceutical needs.
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- Pharmaceutical Distribution: Distributes branded, generic, specialty, and over-the-counter pharmaceuticals and consumer health products.
- Specialty Pharmaceutical Services: Provides services to pharmaceutical manufacturers and healthcare providers for specialty pharmaceutical products.
- Nuclear Pharmacy & Radiopharmaceutical Manufacturing: Operates nuclear pharmacies and facilities for manufacturing radiopharmaceuticals.
- Pharmaceutical Repackaging: Repackages generic pharmaceuticals and over-the-counter healthcare products.
- Medication Therapy & Pharmacy Management Services: Offers medication therapy management, patient outcomes, and pharmacy management services to healthcare providers and payers.
- Medical & Surgical Product Manufacturing: Manufactures and sources Cardinal Health branded medical, surgical, and laboratory products like gloves, needles, and wound care items.
- Medical & Surgical Product Distribution: Distributes a wide range of Cardinal Health branded and national brand medical, surgical, and laboratory products.
- Healthcare Supply Chain Services: Provides supply chain services and solutions to hospitals, ambulatory surgery centers, and other healthcare providers.
- Procedure Kit Assembly: Assembles and sells sterile and non-sterile medical procedure kits.
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Cardinal Health's major suppliers are primarily the pharmaceutical and medical device manufacturers whose products it distributes. Based on its business description and the nature of the healthcare distribution industry, the following are examples of major public companies that would likely be significant suppliers:
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Jason Hollar, Chief Executive Officer
Jason Hollar was appointed Chief Executive Officer of Cardinal Health in September 2022. Prior to this role, he served as the company's Chief Financial Officer starting in May 2020. His professional background includes experience as Chief Financial Officer at Tenneco Inc. and Sears Holding Corporation. He also held various finance roles with Delphi Automotive and Navistar, working in the United States, Europe, and South America. As CEO, Hollar has focused on strategic simplification and prioritization, leading to improvements in the company's financial performance and service levels.
Aaron Alt, Chief Financial Officer
Aaron Alt became Chief Financial Officer of Cardinal Health effective February 10, 2023. Before joining Cardinal Health, Alt served as Executive Vice President and Chief Financial Officer for Sysco Corporation. His previous experience includes roles as Senior Vice President and Chief Financial Officer for Sally Beauty Holdings, and various senior executive positions in finance, operations, and grocery transformation at Target Corporation. He began his corporate career at Sara Lee Corporation, holding diverse roles in brand management, strategy, finance, and legal. Alt also started his professional career in London, England, as both a U.S. private equity lawyer and an English corporate solicitor.
Debbie Weitzman, Chief Executive Officer, Pharmaceutical and Specialty Solutions Segment
Debbie Weitzman serves as the Chief Executive Officer for Cardinal Health's Pharmaceutical and Specialty Solutions Segment.
Steve Mason, Chief Executive Officer, Global Medical Products and Distribution Segment
Steve Mason holds the position of Chief Executive Officer for the Global Medical Products and Distribution Segment at Cardinal Health.
Jessica L. Mayer, Chief Legal and Compliance Officer
Jessica L. Mayer is the Chief Legal and Compliance Officer at Cardinal Health.
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The key risks to Cardinal Health's business operations stem primarily from the complex and highly regulated healthcare environment, intense market competition, and the inherent challenges of managing an extensive supply chain.
- Regulatory and Legal Environment: Cardinal Health operates within a heavily regulated healthcare industry, making it highly susceptible to changes in government regulations, healthcare policies, and reimbursement models. This includes ongoing pressure for drug pricing reform, which could significantly impact profit margins for its Pharmaceutical segment. The company also faces strict compliance requirements from bodies like the FDA, with past issues including warnings for marketing unapproved syringes and quality system regulation violations. Furthermore, the company has been involved in significant opioid litigation settlements, indicating a substantial legal risk exposure.
- Competitive Landscape and Pricing Pressure: Cardinal Health faces intense competition, particularly in pharmaceutical distribution, where it competes with major players like McKesson Corporation and AmerisourceBergen Corporation. This competitive environment, coupled with fluctuating pharmaceutical prices and the impact of product mix on margins, creates persistent pricing pressure that can erode profitability. The emergence of e-commerce platforms and direct-to-consumer models also poses a growing threat to traditional distribution channels.
- Supply Chain Disruptions and Operational Efficiency: As a major distributor of healthcare products, Cardinal Health's business model is critically dependent on a robust and efficient global supply chain. Risks include disruptions due to tariffs and the company's reliance on products sourced from various international locations, which can lead to increased costs and supply chain vulnerabilities. The business is also exposed to manufacturing risks, including issues with product quality and recalls, and challenges related to raw material costs and logistics. Maintaining operational efficiency across its vast distribution network requires continuous investment in technology and can be impacted by external factors, potentially leading to increased costs and effects on patient care.
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The increasing presence and potential for expansion of major technology companies (e.g., Amazon) into healthcare logistics, pharmaceutical distribution, and medical supply chain management. These entrants leverage advanced technology and vast logistics networks to potentially disintermediate traditional distributors like Cardinal Health, offering more efficient, tech-driven supply chain solutions directly to healthcare providers and consumers, which could lead to significant market share shifts or margin compression.
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Addressable Markets for Cardinal Health (CAH)
Cardinal Health (CAH) operates within several significant addressable markets across its Pharmaceutical and Medical segments, offering a wide range of products and services globally and within the United States.
Pharmaceutical Segment
- Pharmaceutical Wholesale and Distribution: The global pharmaceuticals wholesale and distribution market is projected to reach approximately USD 1.5 trillion by 2033, growing at a compound annual growth rate (CAGR) of 6.2% from 2025 to 2033. North America is expected to maintain its leadership in this market. The U.S. pharmaceutical logistics market alone is predicted to reach approximately USD 43.6 billion in 2032 from USD 24.7 billion in 2025.
- Specialty Pharmacy: The global specialty pharmaceutical market was valued at approximately USD 679–746 billion in the mid-2020s, with forecasts to roughly double to around USD 1.6 trillion by 2033. The U.S. specialty drug spending soared to USD 129 billion in 2024, with a projected annual growth approaching USD 1 trillion by 2030. North America held approximately 42% of the global specialty pharmacy market in 2024, valued at about USD 78.3 billion.
- Radiopharmaceuticals: The global radiopharmaceuticals market size was estimated at USD 6.74 billion in 2024 and is predicted to increase to approximately USD 14.44 billion by 2034. The U.S. radiopharmaceuticals market was valued at USD 2.43 billion in 2024 and is projected to reach around USD 5.13 billion by 2034.
Medical Segment
- Medical Supplies Distribution: The global medical supplies market size was valued at approximately USD 146.86 million in 2024 and is projected to grow to USD 215.31 million by 2034. North America led the global medical supplies market with a 36% market share in 2025.
- Medical Gloves: The global medical gloves market size was estimated at USD 16.50 billion in 2024 and is projected to reach approximately USD 37.09 billion by 2034. The U.S. medical gloves market size was about USD 4.61 billion in 2024 and is projected to be around USD 8.46 billion by 2034.
- Wound Care Products: The global wound care market size was estimated at USD 24.9 billion in 2024 and is expected to grow to USD 44.2 billion by 2034. North America dominated the wound care market with a 37.9% market share in 2025. The U.S. wound care market is projected to reach USD 11.9 billion by 2034.
- Surgical Drapes and Gowns: The global surgical drapes and gowns market is estimated to be valued at USD 3.37 billion in 2025 and is expected to reach USD 4.88 billion by 2032. North America is set to lead the global surgical drapes and gowns market in 2025 with a 40.8% share. The global surgical drapes market alone was valued at USD 3.34 billion in 2025 and is projected to expand to USD 5.84 billion by 2034. North America dominated the surgical drapes market with a 57.35% market share in 2025.
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Cardinal Health (CAH) anticipates several key drivers to fuel its future revenue growth over the next 2-3 years:- Growth in Pharmaceutical and Specialty Solutions Segment: Cardinal Health expects continued revenue growth from its Pharmaceutical and Specialty Solutions segment, primarily driven by strong demand for brand and specialty pharmaceuticals. This includes the ongoing tailwind from GLP-1 medications, which have contributed significantly to revenue growth. The company is also expanding its specialty care footprint through acquisitions and investments in Managed Services Organization (MSO) platforms, such as Solaris Health and Specialty Networks, with specialty revenues projected to surpass $50 billion in fiscal 2026.
- Execution of the Global Medical Products and Distribution (GMPD) Improvement Plan: The company's ongoing Medical Improvement Plan for the GMPD segment is a crucial driver. This plan focuses on enhancing operational performance, mitigating inflationary impacts, simplifying operations, and increasing sales of Cardinal Health brand products. Positive trends in Cardinal Health brand volumes and sales, with an expected growth of 3% to 5% in fiscal year 2025, are anticipated to contribute to revenue growth in this segment.
- Expansion of "Other" Growth Businesses: Cardinal Health is investing in and further developing its "Other" growth businesses, which include at-Home Solutions, Nuclear and Precision Health Solutions, and OptiFreight Logistics. These businesses have consistently demonstrated strong growth, driven by secular tailwinds and strategic investments. Acquisitions, such as Advanced Diabetes Supply (ADS) within at-Home Solutions, also contribute to the growth of these segments.
- Growth from Existing and New Customers: Across both the Pharmaceutical and Medical segments, Cardinal Health anticipates revenue growth through expanding its customer base and increasing sales to existing customers. This is particularly noted in branded and specialty pharmaceutical sales.
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Share Repurchases
- Cardinal Health completed $750 million in share repurchases year-to-date in fiscal year 2026, which included $375 million in the second quarter.
- In fiscal year 2025, the company deployed $750 million for share repurchases.
- The company plans for at least $750 million in baseline share repurchases annually for the next three years, an increase from its previous annual baseline expectation of $500 million.
Outbound Investments
- In November 2024, Cardinal Health acquired a majority stake (71% ownership) in GI Alliance, a gastroenterology management services organization, for approximately $2.8 billion in cash.
- Also in November 2024, the company acquired Advanced Diabetes Supply Group (ADSG), a direct-to-patient provider of diabetes medical supplies, for approximately $1.1 billion in cash.
- In August 2025, Cardinal Health announced the acquisition of Solaris Health, a urology MSO, for approximately $1.9 billion in cash.
Capital Expenditures
- Expected capital expenditures for fiscal year 2026 are approximately $600 million to $650 million, primarily focused on manufacturing and distribution infrastructure projects and technology investments.
- Capital expenditures were $547 million in fiscal year 2025 and $511 million in fiscal year 2024.
- The company has invested more than $150 million over the three years leading up to January 2026 to expand its cyclotron network for PET products and enhance its Center for Theranostics Advancement capabilities.
Latest Trefis Analyses
Trade Ideas
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| 02282026 | QDEL | QuidelOrtho | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | CHE | Chemed | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02272026 | LLY | Eli Lilly | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 02202026 | HAE | Haemonetics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 02132026 | IQV | IQVIA | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | -3.0% |
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 180.50 |
| Mkt Cap | 54.4 |
| Rev LTM | 140,078 |
| Op Inc LTM | 3,623 |
| FCF LTM | 4,509 |
| FCF 3Y Avg | 2,772 |
| CFO LTM | 5,194 |
| CFO 3Y Avg | 3,419 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.2% |
| Rev Chg 3Y Avg | 6.8% |
| Rev Chg Q | 8.2% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 3.6% |
| Op Mgn 3Y Avg | 3.5% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 4.0% |
| CFO/Rev 3Y Avg | 3.4% |
| FCF/Rev LTM | 3.2% |
| FCF/Rev 3Y Avg | 2.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 54.4 |
| P/S | 0.5 |
| P/EBIT | 17.9 |
| P/E | 24.8 |
| P/CFO | 12.5 |
| Total Yield | 4.6% |
| Dividend Yield | 0.9% |
| FCF Yield 3Y Avg | 5.1% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -11.8% |
| 3M Rtn | -2.7% |
| 6M Rtn | 9.1% |
| 12M Rtn | 9.7% |
| 3Y Rtn | 58.0% |
| 1M Excs Rtn | -4.0% |
| 3M Excs Rtn | 5.7% |
| 6M Excs Rtn | 13.5% |
| 12M Excs Rtn | -2.1% |
| 3Y Excs Rtn | 5.7% |
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| ANDA213615 | SODIUM IODIDE I 131 | sodium iodide i-131 | solution | 6122025 | -4.7% | 24.3% | 29.7% | 29.7% | 29.7% |
| ANDA203603 | FLUDEOXYGLUCOSE F18 | fludeoxyglucose f-18 | injectable | 11132015 | -7.4% | -10.0% | -14.8% | -28.4% | 222.1% |
| ANDA203780 | SODIUM FLUORIDE F-18 | sodium fluoride f-18 | injectable | 7302015 | 0.1% | -4.3% | 2.3% | -2.8% | 232.1% |
| NDA202207 | LYMPHOSEEK KIT | technetium tc-99m tilmanocept | injectable | 3132013 | 1.3% | 12.9% | 58.4% | 96.1% | 521.0% |
| ANDA203700 | AMMONIA N 13 | ammonia n-13 | injectable | 2252013 | 5.0% | 14.2% | 63.0% | 103.5% | 543.2% |
| ANDA078809 | TECHNETIUM TC 99M SESTAMIBI | technetium tc-99m sestamibi kit | injectable | 4282009 | -0.8% | 21.4% | 54.8% | 89.5% | 1,226.2% |
Segment Financials
Assets by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Pharmaceutical and Specialty Solutions | 29,149 | ||||
| Global Medical Products and Distribution (GMPD) | 7,047 | ||||
| Corporate | 6,319 | 5,210 | 5,837 | 5,421 | 3,677 |
| Other | 2,606 | ||||
| Medical | 10,130 | 11,632 | 15,408 | 14,691 | |
| Pharmaceutical | 28,077 | 26,409 | 23,624 | 22,398 | |
| Total | 45,121 | 43,417 | 43,878 | 44,453 | 40,766 |
Price Behavior
Price Behavior
| Market Price | $206.31 | |
| Market Cap ($ Bil) | 48.7 | |
| First Trading Date | 12/31/1987 | |
| Distance from 52W High | -10.3% | |
| 50 Days | 200 Days | |
| DMA Price | $217.13 | $183.62 |
| DMA Trend | up | up |
| Distance from DMA | -5.0% | 12.4% |
| 3M | 1YR | |
| Volatility | 32.0% | 30.1% |
| Downside Capture | 0.37 | 0.16 |
| Upside Capture | 79.35 | 63.54 |
| Correlation (SPY) | 9.8% | 21.1% |
CAH Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.13 | -0.03 | 0.06 | -0.21 | 0.33 | 0.31 |
| Up Beta | -1.41 | -1.18 | -0.52 | -0.20 | 0.35 | 0.38 |
| Down Beta | -0.98 | -0.41 | -0.34 | -0.89 | 0.29 | 0.22 |
| Up Capture | 121% | 95% | 67% | 75% | 54% | 22% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 13 | 21 | 32 | 72 | 147 | 430 |
| Down Capture | -21% | 4% | 19% | -58% | 10% | 26% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 8 | 20 | 29 | 52 | 104 | 319 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CAH | |
|---|---|---|---|---|
| CAH | 53.1% | 30.0% | 1.42 | - |
| Sector ETF (XLV) | 0.6% | 17.6% | -0.12 | 30.0% |
| Equity (SPY) | 14.8% | 19.0% | 0.60 | 21.0% |
| Gold (GLD) | 48.2% | 27.7% | 1.42 | 4.9% |
| Commodities (DBC) | 17.5% | 17.6% | 0.83 | 4.1% |
| Real Estate (VNQ) | 1.1% | 16.4% | -0.11 | 27.6% |
| Bitcoin (BTCUSD) | -24.0% | 44.3% | -0.49 | -6.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CAH | |
|---|---|---|---|---|
| CAH | 32.2% | 25.2% | 1.09 | - |
| Sector ETF (XLV) | 6.3% | 14.5% | 0.25 | 39.6% |
| Equity (SPY) | 12.0% | 17.0% | 0.55 | 27.6% |
| Gold (GLD) | 20.9% | 17.7% | 0.97 | 3.5% |
| Commodities (DBC) | 12.2% | 18.8% | 0.53 | 6.5% |
| Real Estate (VNQ) | 3.2% | 18.8% | 0.07 | 23.9% |
| Bitcoin (BTCUSD) | 3.9% | 56.6% | 0.29 | 2.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CAH | |
|---|---|---|---|---|
| CAH | 13.0% | 29.2% | 0.47 | - |
| Sector ETF (XLV) | 9.7% | 16.5% | 0.48 | 52.0% |
| Equity (SPY) | 13.9% | 17.9% | 0.67 | 43.5% |
| Gold (GLD) | 13.4% | 15.8% | 0.70 | 0.0% |
| Commodities (DBC) | 8.2% | 17.6% | 0.38 | 14.1% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 35.3% |
| Bitcoin (BTCUSD) | 66.2% | 66.9% | 1.06 | 5.5% |
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Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/5/2026 | 9.8% | 8.4% | 5.3% |
| 10/30/2025 | 15.4% | 19.7% | 26.5% |
| 8/12/2025 | -7.2% | -5.0% | -5.3% |
| 5/1/2025 | 3.0% | 8.6% | 9.3% |
| 1/30/2025 | 0.4% | -0.2% | 1.3% |
| 11/1/2024 | 7.0% | 8.9% | 12.9% |
| 8/14/2024 | 3.7% | 6.1% | 9.6% |
| 5/2/2024 | 0.8% | -4.6% | -2.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 14 |
| # Negative | 11 | 11 | 10 |
| Median Positive | 5.2% | 8.4% | 9.4% |
| Median Negative | -3.7% | -6.4% | -5.4% |
| Max Positive | 15.4% | 19.7% | 26.5% |
| Max Negative | -14.3% | -12.4% | -13.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-K |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 01/30/2025 | 10-Q |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-K |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/01/2024 | 10-Q |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-K |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/02/2023 | 10-Q |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-K |
| 03/31/2022 | 05/05/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q2 2026 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Non-GAAP Diluted EPS | 10.2 | 10.2 | 10.3 | 5.1% | Raised | Guidance: 9.75 for 2026 | |
| 2026 Pharmaceutical and Specialty Solutions segment profit growth | 20.0% | 21.0% | 22.0% | 20.0% | 3.5% | Raised | Guidance: 17.5% for 2026 |
| 2026 Other segment profit growth | 33.0% | 34.0% | 35.0% | 13.3% | 4.0% | Raised | Guidance: 30.0% for 2026 |
| 2026 Global Medical Products and Distribution segment profit | 150.00 Mil | ||||||
| 2026 Non-GAAP effective tax rate | 21.0% | 22.0% | 23.0% | ||||
Prior: Q1 2026 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Non-GAAP Diluted EPS | 9.65 | 9.75 | 9.85 | 3.7% | Raised | Guidance: 9.4 for 2026 | |
| 2026 Non-GAAP Adjusted Free Cash Flow | 3.00 Bil | 3.25 Bil | 3.50 Bil | 8.3% | Raised | Guidance: 3.00 Bil for 2026 | |
| 2026 Pharmaceutical and Specialty Solutions segment profit growth | 16.0% | 17.5% | 19.0% | 45.8% | 5.5% | Raised | Guidance: 12.0% for 2026 |
| 2026 Other segment profit growth | 29.0% | 30.0% | 31.0% | 15.4% | 4.0% | Raised | Guidance: 26.0% for 2026 |
| 2026 Interest and other expense | 325.00 Mil | 18.2% | Raised | Guidance: 275.00 Mil for 2026 | |||
| 2026 Diluted weighted average shares outstanding | 238.00 Mil | -0.4% | Lowered | Guidance: 239.00 Mil for 2026 | |||
| 2026 Capital expenditures | 600.00 Mil | 625.00 Mil | 650.00 Mil | 4.2% | Raised | Guidance: 600.00 Mil for 2026 | |
| 2026 BioPharma Solutions business growth | 30.0% | Higher New | |||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Weitzman, Deborah | CEO, PSS Segment | Direct | Sell | 8202025 | 150.53 | 21,367 | 3,216,375 | 8,042,517 | Form |
| 2 | Hollar, Jason M | Chief Executive Officer | Direct | Sell | 8202025 | 150.04 | 35,901 | 5,386,566 | 30,007,891 | Form |
| 3 | Scherer, Mary C | Chief Accounting Officer | Direct | Sell | 8192025 | 149.25 | 6,766 | 1,009,826 | 530,733 | Form |
| 4 | Greene, Michelle D | Chief Information Officer | Direct | Sell | 8192025 | 148.82 | 13,500 | 2,009,043 | 2,228,699 | Form |
| 5 | Mason, Stephen M | CEO, GMPD Segment | Direct | Sell | 8192025 | 148.82 | 41,575 | 6,187,064 | 3,881,889 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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