Cardinal Health (CAH)
Market Price (9/4/2026): $248.5 | Market Cap: $57.9 BilInvestor Relations Sector: Health Care | Industry: Health Care Distributors
Cardinal Health (CAH)
Market Price (9/4/2026): $248.5Market Cap: $57.9 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 7.8% Stock buyback supportStock Buyback 3Y Total is 2.9 Bil Attractive cash flow generationCFO LTM is 5.2 Bil, FCF LTM is 4.5 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. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 23x, P/EPrice/Earnings or Price/(Net Income) is 34x Key risksCAH key risks include [1] substantial financial and operational strain from ongoing, Show more. |
| Attractive yieldFCF Yield is 7.8% |
| Stock buyback supportStock Buyback 3Y Total is 2.9 Bil |
| Attractive cash flow generationCFO LTM is 5.2 Bil, FCF LTM is 4.5 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. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 23x, P/EPrice/Earnings or Price/(Net Income) is 34x |
| Key risksCAH key risks include [1] substantial financial and operational strain from ongoing, Show more. |
Qualitative Assessment
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Updated on 9/1/2026
Cardinal Health (CAH) stock has gained about 25% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q4 2026 Earnings Performance. Cardinal Health reported robust financial results for fiscal Q4 2026, which ended on June 30, 2026. The company's non-GAAP diluted earnings per share (EPS) reached $2.91, marking a significant 40% increase year-over-year and substantially surpassing analysts' consensus estimates of $2.42 by $0.49, representing a 20.2% beat. Concurrently, non-GAAP operating earnings for the quarter surged by 30% to $935 million.
2. Strong Fiscal Year 2027 Earnings Guidance. The company provided an optimistic outlook for fiscal year 2027, projecting non-GAAP diluted EPS growth of 13% to 15%, translating to an EPS range of $12.40 to $12.60. This guidance not only exceeded Cardinal Health's long-term EPS growth target but also surpassed analyst expectations by 3.7% at the midpoint, signaling strong anticipated future profitability.
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Cardinal Health (CAH) stock has gained about 25% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q4 2026 Earnings Performance. Cardinal Health reported robust financial results for fiscal Q4 2026, which ended on June 30, 2026. The company's non-GAAP diluted earnings per share (EPS) reached $2.91, marking a significant 40% increase year-over-year and substantially surpassing analysts' consensus estimates of $2.42 by $0.49, representing a 20.2% beat. Concurrently, non-GAAP operating earnings for the quarter surged by 30% to $935 million.
2. Strong Fiscal Year 2027 Earnings Guidance. The company provided an optimistic outlook for fiscal year 2027, projecting non-GAAP diluted EPS growth of 13% to 15%, translating to an EPS range of $12.40 to $12.60. This guidance not only exceeded Cardinal Health's long-term EPS growth target but also surpassed analyst expectations by 3.7% at the midpoint, signaling strong anticipated future profitability.
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Updated on 9/1/2026
Cardinal Health (CAH) stock has gained about 25% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q4 2026 Earnings Performance. Cardinal Health reported robust financial results for fiscal Q4 2026, which ended on June 30, 2026. The company's non-GAAP diluted earnings per share (EPS) reached $2.91, marking a significant 40% increase year-over-year and substantially surpassing analysts' consensus estimates of $2.42 by $0.49, representing a 20.2% beat. Concurrently, non-GAAP operating earnings for the quarter surged by 30% to $935 million.
2. Strong Fiscal Year 2027 Earnings Guidance. The company provided an optimistic outlook for fiscal year 2027, projecting non-GAAP diluted EPS growth of 13% to 15%, translating to an EPS range of $12.40 to $12.60. This guidance not only exceeded Cardinal Health's long-term EPS growth target but also surpassed analyst expectations by 3.7% at the midpoint, signaling strong anticipated future profitability.
3. Increased Shareholder Returns. Cardinal Health demonstrated a commitment to returning capital to shareholders through significant share repurchases and an enhanced dividend. The Board authorized a new $5.0 billion incremental share repurchase program. This followed the completion of an additional $350 million accelerated share repurchase in fiscal year 2026, bringing the total repurchases for fiscal year 2026 to $1.4 billion. Furthermore, the Board approved an increased quarterly dividend of $0.5158 per share.
4. Favorable Analyst Revisions and Price Target Increases. Following the strong earnings report and positive guidance, numerous investment analysts reiterated "Buy" or "Moderate Buy" ratings for Cardinal Health and significantly raised their price targets. For instance, Wells Fargo & Company increased its price objective from $245.00 to $277.00, and Leerink Partners set a price target of $292.00. The consensus 12-month price target among analysts now ranges between $266.56 and $270.94.
Show less
Cardinal Health (CAH) stock has gained about 25% since 5/31/2026 because of the following key factors:
1. Exceptional Fiscal Q4 2026 Earnings Performance. Cardinal Health reported robust financial results for fiscal Q4 2026, which ended on June 30, 2026. The company's non-GAAP diluted earnings per share (EPS) reached $2.91, marking a significant 40% increase year-over-year and substantially surpassing analysts' consensus estimates of $2.42 by $0.49, representing a 20.2% beat. Concurrently, non-GAAP operating earnings for the quarter surged by 30% to $935 million.
2. Strong Fiscal Year 2027 Earnings Guidance. The company provided an optimistic outlook for fiscal year 2027, projecting non-GAAP diluted EPS growth of 13% to 15%, translating to an EPS range of $12.40 to $12.60. This guidance not only exceeded Cardinal Health's long-term EPS growth target but also surpassed analyst expectations by 3.7% at the midpoint, signaling strong anticipated future profitability.
3. Increased Shareholder Returns. Cardinal Health demonstrated a commitment to returning capital to shareholders through significant share repurchases and an enhanced dividend. The Board authorized a new $5.0 billion incremental share repurchase program. This followed the completion of an additional $350 million accelerated share repurchase in fiscal year 2026, bringing the total repurchases for fiscal year 2026 to $1.4 billion. Furthermore, the Board approved an increased quarterly dividend of $0.5158 per share.
4. Favorable Analyst Revisions and Price Target Increases. Following the strong earnings report and positive guidance, numerous investment analysts reiterated "Buy" or "Moderate Buy" ratings for Cardinal Health and significantly raised their price targets. For instance, Wells Fargo & Company increased its price objective from $245.00 to $277.00, and Leerink Partners set a price target of $292.00. The consensus 12-month price target among analysts now ranges between $266.56 and $270.94.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 26.6% change in CAH stock from 5/31/2026 to 9/3/2026 was primarily driven by a 13.9% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9032026 | Change |
|---|---|---|---|
| Stock Price ($) | 196.37 | 248.61 | 26.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 250,735 | 254,248 | 1.4% |
| Net Income Margin (%) | 0.6% | 0.7% | 8.7% |
| P/E Multiple | 29.7 | 33.8 | 13.9% |
| Shares Outstanding (Mil) | 235 | 233 | 0.9% |
| Cumulative Contribution | 26.6% |
Market Drivers
5/31/2026 to 9/3/2026| Return | Correlation | |
|---|---|---|
| CAH | 26.6% | |
| Market (SPY) | 2.2% | -12.7% |
| Sector (XLV) | 15.9% | 47.5% |
Fundamental Drivers
The 9.0% change in CAH stock from 2/28/2026 to 9/3/2026 was primarily driven by a 4.3% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 9032026 | Change |
|---|---|---|---|
| Stock Price ($) | 228.18 | 248.61 | 9.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 244,673 | 254,248 | 3.9% |
| Net Income Margin (%) | 0.7% | 0.7% | -0.8% |
| P/E Multiple | 32.4 | 33.8 | 4.3% |
| Shares Outstanding (Mil) | 236 | 233 | 1.3% |
| Cumulative Contribution | 9.0% |
Market Drivers
2/28/2026 to 9/3/2026| Return | Correlation | |
|---|---|---|
| CAH | 9.0% | |
| Market (SPY) | 13.0% | 0.2% |
| Sector (XLV) | 8.6% | 40.0% |
Fundamental Drivers
The 68.8% change in CAH stock from 8/31/2025 to 9/3/2026 was primarily driven by a 50.5% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9032026 | Change |
|---|---|---|---|
| Stock Price ($) | 147.25 | 248.61 | 68.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 222,578 | 254,248 | 14.2% |
| Net Income Margin (%) | 0.7% | 0.7% | -3.9% |
| P/E Multiple | 22.5 | 33.8 | 50.5% |
| Shares Outstanding (Mil) | 238 | 233 | 2.1% |
| Cumulative Contribution | 68.8% |
Market Drivers
8/31/2025 to 9/3/2026| Return | Correlation | |
|---|---|---|
| CAH | 68.8% | |
| Market (SPY) | 20.9% | -3.5% |
| Sector (XLV) | 27.7% | 26.4% |
Fundamental Drivers
The 198.2% change in CAH stock from 8/31/2023 to 9/3/2026 was primarily driven by a 318.7% change in the company's Net Income Margin (%).| (LTM values as of) | 8312023 | 9032026 | Change |
|---|---|---|---|
| Stock Price ($) | 83.38 | 248.61 | 198.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 204,979 | 254,248 | 24.0% |
| Net Income Margin (%) | 0.2% | 0.7% | 318.7% |
| P/E Multiple | 64.4 | 33.8 | -47.5% |
| Shares Outstanding (Mil) | 255 | 233 | 9.4% |
| Cumulative Contribution | 198.2% |
Market Drivers
8/31/2023 to 9/3/2026| Return | Correlation | |
|---|---|---|
| CAH | 198.2% | |
| Market (SPY) | 77.7% | 13.8% |
| Sector (XLV) | 36.2% | 32.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CAH Return | -0% | 54% | 34% | 19% | 76% | 20% | 420% |
| Peers Return | 18% | 13% | 10% | 4% | 23% | 11% | 109% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| CAH Win Rate | 42% | 67% | 58% | 50% | 75% | 67% | |
| Peers Win Rate | 55% | 57% | 57% | 53% | 62% | 64% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| CAH Max Drawdown | -25% | -21% | -14% | -18% | -13% | -20% | |
| Peers Max Drawdown | -15% | -22% | -19% | -16% | -19% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[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 9/3/2026 (YTD)
How Low Can It Go
| Event | CAH | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.2% | -6.7% |
| % Gain to Breakeven | 15.1% | 7.1% |
| Time to Breakeven | 13 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.9% | -33.7% |
| % Gain to Breakeven | 44.8% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.5% | -19.2% |
| % Gain to Breakeven | 25.7% | 23.8% |
| Time to Breakeven | 45 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -16.2% | -3.7% |
| % Gain to Breakeven | 19.4% | 3.9% |
| Time to Breakeven | 95 days | 6 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -17.5% | -17.9% |
| % Gain to Breakeven | 21.2% | 21.8% |
| Time to Breakeven | 529 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -10.5% | -15.4% |
| % Gain to Breakeven | 11.7% | 18.2% |
| Time to Breakeven | 111 days | 125 days |
In The Past
Cardinal Health's stock fell -2.2% during the 2025 US Tariff Shock. Such a loss loss requires a 2.3% gain to breakeven.
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| Event | CAH | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -30.9% | -33.7% |
| % Gain to Breakeven | 44.8% | 50.9% |
| Time to Breakeven | 77 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.5% | -19.2% |
| % Gain to Breakeven | 25.7% | 23.8% |
| Time to Breakeven | 45 days | 105 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -50.5% | -53.4% |
| % Gain to Breakeven | 102.1% | 114.4% |
| Time to Breakeven | 777 days | 1085 days |
In The Past
Cardinal Health's stock fell -2.2% during the 2025 US Tariff Shock. Such a loss loss requires a 2.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Cardinal Health (CAH)
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Cardinal Health, Inc. (CAH) is a global integrated healthcare services and products company that provides essential solutions across the healthcare industry. Operating internationally, it serves as a critical link in the healthcare supply chain, distributing pharmaceuticals and medical products, and offering a variety of supporting services to healthcare providers.
The company primarily operates through two segments. Its Pharmaceutical segment is a leading distributor of branded, generic, and specialty pharmaceuticals, along with over-the-counter healthcare products. This segment also offers services such as specialty pharmaceutical solutions for manufacturers and providers, operates nuclear pharmacies, and provides medication therapy management and pharmacy management services to hospitals and other healthcare facilities.
Cardinal Health's Medical segment manufactures, sources, and distributes a wide array of medical, surgical, and laboratory products, both under its own brand and national brands. This includes items like gloves, needles, wound care supplies, surgical drapes, and procedure kits. The company also provides supply chain services and solutions. Its main customers encompass hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices, all aimed at supporting patient care across diverse healthcare settings.
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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.
Peer Outperformance in Health Care Distributors
CAH has outperformed 100% of its 6 Health Care Distributors peers over 5Y. Health Care Distributors ranks 1st of 10 industries in Health Care by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Health Care Distributors constituents that CAH has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 6 industry peers · 66.8% return
3Y
100%
of 6 industry peers · 197.3% return
5Y
100%
of 6 industry peers · 416.8% return
No Health Care Distributors peer with a comparable growth profile has beaten CAH by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Health Care Distributors is CAH's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors ← | 7 | 15.1% | 97.6% | 144.4% | CAH 417% · MCK 358% · COR 184% |
| Managed Health Care | 8 | 32.9% | 4.7% | 4.6% | OSCR 77% · HQY 52% · ELV 18% |
| Health Care Services | 20 | 20.7% | 49.5% | -0.8% | HIMS 239% · RDNT 137% · DGX 69% |
| Health Care Facilities | 24 | 3.9% | -6.1% | -18.8% | NHC 249% · THC 247% · ENSG 110% |
| Health Care Equipment | 50 | -2.1% | -6.6% | -24.5% | POCI 10825% · UFPT 314% · GKOS 205% |
| Health Care Supplies | 12 | 35.0% | -15.0% | -34.8% | LNTH 272% · HAE 59% · MMSI 21% |
| Pharmaceuticals | 63 | 2.2% | 0.0% | -35.6% | LQDA 2405% · INDV 1144% · ETON 1050% |
| Life Sciences Tools & Services | 109 | 0.8% | -31.0% | -73.5% | SNWV 1716% · MEDP 204% · AXGN 171% |
| Biotechnology | 363 | 7.2% | -26.2% | -76.6% | BRTX 71750% · DNTH 1554% · CELZ 1414% |
| Health Care Technology | 20 | -25.8% | -58.7% | -78.2% | SPOK 68% · HSTM 0% · VEEV -10% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 218.12 |
| Mkt Cap | 61.5 |
| Rev LTM | 145,306 |
| Op Inc LTM | 3,937 |
| FCF LTM | 4,293 |
| FCF 3Y Avg | 3,110 |
| CFO LTM | 4,997 |
| CFO 3Y Avg | 3,701 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.6% |
| Rev Chg 3Y Avg | 7.4% |
| Rev Chg Q | 6.3% |
| QoQ Delta Rev Chg LTM | 1.5% |
| Op Inc Chg LTM | 24.1% |
| Op Inc Chg 3Y Avg | 13.0% |
| Op Mgn LTM | 3.7% |
| Op Mgn 3Y Avg | 3.5% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 3.6% |
| CFO/Rev 3Y Avg | 3.2% |
| FCF/Rev LTM | 2.8% |
| FCF/Rev 3Y Avg | 2.4% |
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% | 41.0% | 57.0% | 57.0% |
| ANDA203603 | FLUDEOXYGLUCOSE F18 | fludeoxyglucose f-18 | injectable | 11132015 | -7.4% | -10.0% | -14.8% | -28.4% | 289.9% |
| ANDA203780 | SODIUM FLUORIDE F-18 | sodium fluoride f-18 | injectable | 7302015 | 0.1% | -4.3% | 2.3% | -2.8% | 302.1% |
| NDA202207 | LYMPHOSEEK KIT | technetium tc-99m tilmanocept | injectable | 3132013 | 1.3% | 12.9% | 58.4% | 96.1% | 651.7% |
| ANDA203700 | AMMONIA N 13 | ammonia n-13 | injectable | 2252013 | 5.0% | 14.2% | 63.0% | 103.5% | 678.7% |
| ANDA078809 | TECHNETIUM TC 99M SESTAMIBI | technetium tc-99m sestamibi kit | injectable | 4282009 | -0.8% | 21.4% | 54.8% | 89.5% | 1,505.5% |
| 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% | 41.0% | 57.0% | 57.0% |
| ANDA203603 | FLUDEOXYGLUCOSE F18 | fludeoxyglucose f-18 | injectable | 11132015 | -7.4% | -10.0% | -14.8% | -28.4% | 289.9% |
| ANDA203780 | SODIUM FLUORIDE F-18 | sodium fluoride f-18 | injectable | 7302015 | 0.1% | -4.3% | 2.3% | -2.8% | 302.1% |
| NDA202207 | LYMPHOSEEK KIT | technetium tc-99m tilmanocept | injectable | 3132013 | 1.3% | 12.9% | 58.4% | 96.1% | 651.7% |
| ANDA203700 | AMMONIA N 13 | ammonia n-13 | injectable | 2252013 | 5.0% | 14.2% | 63.0% | 103.5% | 678.7% |
| ANDA078809 | TECHNETIUM TC 99M SESTAMIBI | technetium tc-99m sestamibi kit | injectable | 4282009 | -0.8% | 21.4% | 54.8% | 89.5% | 1,505.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Pharmaceutical and Specialty Solutions | 204,644 | 210,019 | 188,814 | 164,596 | |
| Global Medical Products and Distribution (GMPD) | 12,636 | 12,381 | 12,222 | 13,280 | |
| Other | 5,382 | 4,512 | 4,021 | 3,518 | |
| Corporate | -84 | -85 | -78 | -68 | -16 |
| Medical | 16,687 | ||||
| Pharmaceutical | 145,796 | ||||
| Total | 222,578 | 226,827 | 204,979 | 181,326 | 162,467 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Pharmaceutical and Specialty Solutions | 2,258 | 2,015 | 1,881 | 1,643 | |
| Other | 516 | 423 | 396 | 390 | |
| Global Medical Products and Distribution (GMPD) | 135 | 92 | -147 | -64 | |
| Corporate | -634 | -1,287 | -1,378 | -2,576 | -1,789 |
| Medical | 577 | ||||
| Pharmaceutical | 1,684 | ||||
| Total | 2,275 | 1,243 | 752 | -607 | 472 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Pharmaceutical and Specialty Solutions | 37,313 | 29,149 | |||
| Global Medical Products and Distribution (GMPD) | 6,889 | 7,047 | |||
| Corporate | 4,875 | 6,319 | 5,210 | 5,837 | 5,421 |
| Other | 4,045 | 2,606 | |||
| Medical | 10,130 | 11,632 | 15,408 | ||
| Pharmaceutical | 28,077 | 26,409 | 23,624 | ||
| Total | 53,122 | 45,121 | 43,417 | 43,878 | 44,453 |
Price Behavior
Price Behavior
| Market Price | $248.61 | |
| Market Cap ($ Bil) | 57.9 | |
| First Trading Date | 12/31/1987 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $233.94 | $214.89 |
| DMA Trend | up | up |
| Distance from DMA | 6.3% | 15.7% |
| 3M | 1YR | |
| Volatility | 23.7% | 29.8% |
| Downside Capture | -87.39 | -25.93 |
| Upside Capture | 18.03 | 38.76 |
| Correlation (SPY) | -13.5% | -3.4% |
CAH Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.09 | -0.09 | -0.25 | -0.00 | -0.09 | 0.22 |
| Up Beta | 0.29 | -0.19 | 0.12 | 0.12 | -0.03 | 0.29 |
| Down Beta | 3.62 | 0.30 | -0.38 | -0.13 | -0.49 | 0.14 |
| Up Capture | -19% | -17% | 9% | 2% | 26% | 15% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 21 | 37 | 67 | 139 | 427 |
| Down Capture | -90% | -11% | -95% | -5% | -35% | 11% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 10 | 21 | 27 | 60 | 112 | 321 |
[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 | 67.2% | 29.8% | 1.72 | - |
| Sector ETF (XLV) | 28.3% | 16.0% | 1.37 | 26.5% |
| Equity (SPY) | 21.2% | 12.8% | 1.23 | -3.5% |
| Gold (GLD) | 25.1% | 29.1% | 0.77 | -2.7% |
| Commodities (DBC) | 42.9% | 20.4% | 1.64 | -16.3% |
| Real Estate (VNQ) | 10.7% | 13.6% | 0.50 | 19.8% |
| Bitcoin (BTCUSD) | -31.0% | 43.5% | -0.73 | -11.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CAH | |
|---|---|---|---|---|
| CAH | 40.2% | 24.6% | 1.34 | - |
| Sector ETF (XLV) | 6.8% | 15.1% | 0.26 | 40.0% |
| Equity (SPY) | 13.1% | 17.2% | 0.58 | 26.3% |
| Gold (GLD) | 19.6% | 18.8% | 0.85 | 1.6% |
| Commodities (DBC) | 11.0% | 19.5% | 0.44 | 3.0% |
| Real Estate (VNQ) | 2.0% | 18.9% | 0.00 | 25.0% |
| Bitcoin (BTCUSD) | 10.5% | 52.6% | 0.38 | 4.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CAH | |
|---|---|---|---|---|
| CAH | 15.0% | 29.3% | 0.53 | - |
| Sector ETF (XLV) | 10.8% | 16.7% | 0.53 | 51.1% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 41.7% |
| Gold (GLD) | 12.5% | 16.3% | 0.63 | 0.6% |
| Commodities (DBC) | 8.0% | 18.1% | 0.36 | 12.2% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 35.4% |
| Bitcoin (BTCUSD) | 63.1% | 66.1% | 1.03 | 5.5% |
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Earnings Returns History
Updated 8/20/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | 1.3% | -0.6% | |
| 4/30/2026 | -4.9% | -5.6% | -3.0% |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 13 |
| # Negative | 12 | 12 | 11 |
| Median Positive | 5.1% | 8.4% | 9.3% |
| Median Negative | -4.0% | -6.0% | -5.3% |
| Max Positive | 15.4% | 19.7% | 26.5% |
| Max Negative | -14.3% | -12.4% | -13.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/11/2026 | 1.3% | -0.6% | |
| 4/30/2026 | -4.9% | -5.6% | -3.0% |
| 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% |
| 2/1/2024 | -3.7% | -3.2% | 3.8% |
| 11/3/2023 | 6.9% | 9.6% | 14.6% |
| 8/15/2023 | -2.6% | -6.5% | -5.4% |
| 5/4/2023 | -1.0% | 4.3% | 3.6% |
| 2/2/2023 | 0.7% | 5.5% | -0.7% |
| 11/4/2022 | 5.1% | 3.0% | 5.0% |
| 8/11/2022 | 5.2% | 10.1% | 11.4% |
| 5/5/2022 | -4.3% | -7.6% | -11.0% |
| 2/3/2022 | -0.3% | 4.6% | 4.7% |
| 11/9/2021 | -0.6% | 1.7% | -2.8% |
| 8/5/2021 | -14.3% | -12.4% | -9.2% |
| 5/6/2021 | -7.1% | -8.3% | -7.0% |
| 2/5/2021 | -3.1% | -6.4% | -2.3% |
| 11/5/2020 | 7.3% | 13.7% | 15.3% |
| 8/6/2020 | -7.8% | -6.6% | -13.2% |
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 13 |
| # Negative | 12 | 12 | 11 |
| Median Positive | 5.1% | 8.4% | 9.3% |
| Median Negative | -4.0% | -6.0% | -5.3% |
| 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 |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-K |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 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 |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-K |
| 03/31/2026 | 04/30/2026 | 10-Q |
| 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 |
| 12/31/2021 | 02/03/2022 | 10-Q |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-K |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/05/2021 | 10-Q |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/13/2020 | 10-K |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 02/06/2020 | 10-Q |
| 09/30/2019 | 11/07/2019 | 10-Q |
Recent Forward Guidance
Updated 8/12/2026Latest: Q4 2026 Earnings Reported 8/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Pharmaceutical and Specialty Solutions segment profit growth | Reported | 8.0% | 9.5% | 11.0% | -13.0% | Lower New | Guidance: 22.5% for 2026 | |
| 2027 Global Medical Products and Distribution segment profit | Reported | 200.00 Mil | 210.00 Mil | 220.00 Mil | ||||
| 2027 Other segment profit growth | Reported | 15.0% | 16.5% | 18.0% | -20.5% | Lower New | Guidance: 37.0% for 2026 | |
| 2027 Pharmaceutical and Specialty Solutions segment Revenue Growth | Reported | 3.0% | 4.0% | 5.0% | ||||
| 2027 Global Medical Products and Distribution segment Revenue Growth | Reported | 2.0% | 3.0% | 4.0% | ||||
| 2027 Other segment Revenue Growth | Reported | 11.0% | 12.0% | 13.0% | ||||
| 2027 Interest and other | Reported | 240.00 Mil | 265.00 Mil | 290.00 Mil | -22.1% | Lower New | Guidance: 340.00 Mil for 2026 | |
| 2027 Non-GAAP effective tax rate | Reported | 19.0% | 19.5% | 20.0% | 0.5% | Higher New | Guidance: 19.0% for 2026 | |
| 2027 Non-GAAP earnings per share | Reported | 12.4 | 12.5 | 12.6 | 16.3% | Higher New | Guidance: 10.8 for 2026 | |
| 2027 Diluted weighted average shares outstanding | Reported | 233.00 Mil | -1.7% | Lower New | Guidance: 237.00 Mil for 2026 | |||
| 2027 Capital Expenditures | Reported | 700.00 Mil | ||||||
| 2027 Non-GAAP adjusted free cash flow | Reported | 3.50 Bil | 3.75 Bil | 4.00 Bil | 7.1% | Higher New | Guidance: 3.50 Bil for 2026 | |
| 2027 Share repurchases | Reported | 1.00 Bil | ||||||
Prior: Q3 2026 Earnings Reported 4/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Pharmaceutical and Specialty Solutions segment profit growth | Reported | 22.0% | 22.5% | 23.0% | 1.5% | Raised | Guidance: 21.0% for 2026 | |
| 2026 Other segment profit growth | Reported | 36.0% | 37.0% | 38.0% | 3.0% | Raised | Guidance: 34.0% for 2026 | |
| 2026 Interest and Other expense | Reported | 340.00 Mil | 4.6% | Raised | Guidance: 325.00 Mil for 2026 | |||
| 2026 Non-GAAP effective tax rate | Reported | 19.0% | -3.0% | Lowered | Guidance: 22.0% for 2026 | |||
| 2026 Non-GAAP Diluted EPS | Reported | 10.7 | 10.8 | 10.8 | 4.9% | Raised | Guidance: 10.2 for 2026 | |
| 2026 Diluted weighted average shares outstanding | Reported | 237.00 Mil | -0.2% | Lowered | Guidance: 237.50 Mil for 2026 | |||
| 2026 Adjusted free cash flow | Reported | 3.30 Bil | 3.50 Bil | 3.70 Bil | 7.7% | Raised | Guidance: 3.25 Bil for 2026 | |
Q2 2026 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Pharmaceutical and Specialty Solutions segment profit growth | Reported | 20.0% | 21.0% | 22.0% | 3.5% | Raised | Guidance: 17.5% for 2026 | |
| 2026 Global Medical Products and Distribution segment profit | Reported | 150.00 Mil | ||||||
| 2026 Other segment profit growth | Reported | 33.0% | 34.0% | 35.0% | 4.0% | Raised | Guidance: 30.0% for 2026 | |
| 2026 Non-GAAP effective tax rate | Reported | 21.0% | 22.0% | 23.0% | ||||
| 2026 Non-GAAP Diluted EPS | Reported | 10.2 | 10.2 | 10.3 | 5.1% | Raised | Guidance: 9.75 for 2026 | |
Q1 2026 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Pharmaceutical and Specialty Solutions segment profit growth | Reported | 16.0% | 17.5% | 19.0% | 5.5% | Raised | Guidance: 12.0% for 2026 | |
| 2026 Other segment profit growth | Reported | 29.0% | 30.0% | 31.0% | 4.0% | Raised | Guidance: 26.0% for 2026 | |
| 2026 BioPharma Solutions business growth | Reported | 30.0% | ||||||
| 2026 Interest and other expense | Reported | 325.00 Mil | 18.2% | Raised | Guidance: 275.00 Mil for 2026 | |||
| 2026 Non-GAAP Diluted EPS | Reported | 9.65 | 9.75 | 9.85 | 3.7% | Raised | Guidance: 9.4 for 2026 | |
| 2026 Diluted weighted average shares outstanding | Reported | 238.00 Mil | -0.4% | Lowered | Guidance: 239.00 Mil for 2026 | |||
| 2026 Capital expenditures | Reported | 600.00 Mil | 625.00 Mil | 650.00 Mil | 4.2% | Raised | Guidance: 600.00 Mil for 2026 | |
| 2026 Non-GAAP Adjusted Free Cash Flow | Reported | 3.00 Bil | 3.25 Bil | 3.50 Bil | 8.3% | Raised | Guidance: 3.00 Bil for 2026 | |
Insider Activity
Updated 8/20/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Scherer, Mary C | Chief Accounting Officer | Direct | Sell | 8202026 | 237.39 | 2,302 | 546,473 | 667,305 | Form |
| 2 | Hollar, Jason M | Chief Executive Officer | Direct | Sell | 8202026 | 236.18 | 44,529 | 10,516,660 | 45,015,765 | Form |
| 3 | Hollar, Jason M | Chief Executive Officer | Direct | Sell | 8202026 | 235.74 | 80,000 | 18,858,855 | 55,429,005 | Form |
| 4 | Mason, Stephen M | CEO, GMPD Segment | Direct | Sell | 8202026 | 236.40 | 35,000 | 8,274,117 | 4,269,681 | Form |
| 5 | Weitzman, Deborah | CEO, PSS Segment | Direct | Sell | 8202026 | 235.45 | 7,354 | 1,731,524 | 18,342,051 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Scherer, Mary C | Chief Accounting Officer | Direct | Sell | 8202026 | 237.39 | 2,302 | 546,473 | 667,305 | Form |
| 2 | Hollar, Jason M | Chief Executive Officer | Direct | Sell | 8202026 | 236.18 | 44,529 | 10,516,660 | 45,015,765 | Form |
| 3 | Hollar, Jason M | Chief Executive Officer | Direct | Sell | 8202026 | 235.74 | 80,000 | 18,858,855 | 55,429,005 | Form |
| 4 | Mason, Stephen M | CEO, GMPD Segment | Direct | Sell | 8202026 | 236.40 | 35,000 | 8,274,117 | 4,269,681 | Form |
| 5 | Weitzman, Deborah | CEO, PSS Segment | Direct | Sell | 8202026 | 235.45 | 7,354 | 1,731,524 | 18,342,051 | Form |
| 6 | Alt, Aaron E | Chief Financial Officer | Direct | Sell | 8202026 | 236.34 | 42,000 | 9,926,140 | 4,843,720 | Form |
| 7 | Mayer, Jessica L | Chief Legal/Compliance Officer | Direct | Sell | 8192026 | 236.19 | 29,436 | 6,952,485 | 7,812,216 | Form |
| 8 | Greene, Michelle D | Chief Information Officer | Direct | Sell | 8192026 | 235.72 | 11,650 | 2,746,187 | 2,435,031 | Form |
| 9 | Greene, Michelle D | Chief Information Officer | Direct | Sell | 3032026 | 228.47 | 2,746 | 627,387 | 2,794,224 | Form |
| 10 | Alt, Aaron E | Chief Financial Officer | Direct | Sell | 2182026 | 225.50 | 2,328 | 524,964 | 5,955,004 | Form |
| 11 | Hall, Patricia Hemingway | Direct | Sell | 2102026 | 229.72 | 4,000 | 918,880 | 6,492,806 | Form | |
| 12 | Weitzman, Deborah | CEO, PSS Segment | Direct | Sell | 8202025 | 150.53 | 21,367 | 3,216,375 | 8,042,517 | Form |
| 13 | Hollar, Jason M | Chief Executive Officer | Direct | Sell | 8202025 | 150.04 | 35,901 | 5,386,566 | 30,007,891 | Form |
| 14 | Scherer, Mary C | Chief Accounting Officer | Direct | Sell | 8192025 | 149.25 | 6,766 | 1,009,826 | 530,733 | Form |
| 15 | Greene, Michelle D | Chief Information Officer | Direct | Sell | 8192025 | 148.82 | 13,500 | 2,009,043 | 2,228,699 | Form |
| 16 | Mason, Stephen M | CEO, GMPD Segment | Direct | Sell | 8192025 | 148.82 | 41,575 | 6,187,064 | 3,881,889 | Form |
| 17 | Hollar, Jason M | Chief Executive Officer | Direct | Sell | 8192025 | 148.90 | 107,705 | 16,037,649 | 35,126,478 | Form |
| 18 | Mayer, Jessica L | Chief Legal/Compliance Officer | Direct | Sell | 8192025 | 148.82 | 38,078 | 5,666,833 | 7,211,453 | Form |
| 19 | Alt, Aaron E | Chief Financial Officer | Direct | Sell | 8192025 | 148.78 | 48,243 | 7,177,389 | 4,559,977 | Form |
| 20 | Snow, Ola M | Chief Human Resources Officer | Direct | Sell | 8192025 | 148.94 | 28,151 | 4,192,917 | 2,298,352 | Form |
Investor Activity (13F)
Updated Sep 4, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Cambridge Financial Group, Inc. | $11.2 Mil | 4.2% | 33 | Hold | 13F |
| Lone Peak Global Investors LLC | $24.1 Mil | 4.0% | 42 | Hold | 13F |
| Sector Gamma AS | $11.6 Mil | 2.7% | 42 | TRIM -11.4% | 13F |
| Promethos Capital, LLC | $7.8 Mil | 2.1% | 46 | TRIM -6.3% | 13F |
| Oribel Capital Management, LP | $5.3 Mil | 0.8% | 41 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Lone Peak Global Investors LLC | $24.1 Mil | 4.0% | 42 | Hold | 13F |
| Sector Gamma AS | $11.6 Mil | 2.7% | 42 | TRIM -11.4% | 13F |
| Cambridge Financial Group, Inc. | $11.2 Mil | 4.2% | 33 | Hold | 13F |
| Promethos Capital, LLC | $7.8 Mil | 2.1% | 46 | TRIM -6.3% | 13F |
| Oribel Capital Management, LP | $5.3 Mil | 0.8% | 41 | New | 13F |
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Core Cache Last Updated: 9/3/2026