15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 7.8% per year over the past 5 years.
Operating margin has expanded, at 1.0% in the latest year.
Free cash flow has grown 3.1% per year over the past 5 years.
Financial health
Total debt ($8.5B) exceeds cash ($3.9B); net debt is $4.7B.
Total debt has grown slower than revenue (4.6% vs 7.8% per year).
Operating income covered interest expense 11× in the latest year, up from -17.2× 5 years ago.
Total debt is 2.8× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 31.6% of earnings and 26.7% of free cash flow.
The dividend has declined 2.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$222.6B
$1.6B
3.7%
1.0%
$1.9B
$8.5B
$3.9B
2024
$226.8B
$852M
3.3%
0.5%
$3.3B
$5.1B
$5.1B
2023
$205.0B
$330M
3.4%
0.4%
$2.4B
$4.7B
$4.1B
2022
$181.3B
-$938M
3.6%
-0.3%
$2.8B
$5.3B
$4.7B
2021
$162.5B
$611M
4.2%
0.3%
$2.0B
$6.2B
$3.4B
2020
$152.9B
-$3.7B
4.5%
-2.7%
$1.6B
$6.8B
$2.8B
2019
$145.5B
$1.4B
4.7%
1.4%
$2.4B
—
$2.5B
2018
$136.8B
$256M
5.2%
0.1%
$2.4B
—
$1.8B
2017
$130.0B
$1.3B
5.0%
1.6%
$797M
—
$6.9B
2016
$121.5B
$1.4B
5.4%
2.0%
$2.5B
—
$2.4B
2015
$102.5B
$1.2B
5.6%
2.1%
$2.2B
—
$4.6B
2014
$91.1B
$1.2B
5.7%
2.1%
$2.3B
—
$2.9B
2013
$101.1B
$334M
4.9%
1.0%
$1.5B
—
$1.9B
2012
$107.6B
$1.1B
4.2%
1.7%
$916M
—
$2.3B
2011
$102.6B
$959M
4.1%
1.5%
$1.1B
$2.5B
$1.9B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Dec '25
$65.6B
$467M
3.7%
1.1%
$555M
—
$2.8B
Sep '25
$64.0B
$450M
3.6%
1.0%
$865M
$9.0B
$4.6B
Jun '25
$60.2B
$239M
3.7%
0.7%
$1.3B
$8.5B
$3.9B
Mar '25
$54.9B
$506M
3.9%
1.3%
$2.8B
—
$3.3B
Dec '24
$55.3B
$400M
3.5%
1.0%
-$495M
—
$3.8B
Sep '24
$52.3B
$416M
3.6%
1.1%
-$1.7B
$5.2B
$2.9B
Jun '24
$59.9B
$235M
3.1%
0.7%
$1.9B
$5.1B
$5.1B
Mar '24
$54.9B
$261M
3.5%
0.7%
-$139M
—
$3.7B
Dec '23
$57.4B
$368M
3.2%
0.9%
$1.1B
$4.7B
$4.6B
Sep '23
$54.6B
-$12M
3.2%
-0.1%
$436M
$4.7B
$3.9B
Jun '23
$53.4B
$5M
3.4%
0.3%
$646M
$4.7B
$4.1B
Mar '23
$50.5B
$365M
3.6%
1.2%
$1.3B
—
$4.0B
Dec '22
$51.5B
-$77M
3.3%
-0.2%
$512M
—
$3.7B
Sep '22
$49.6B
$110M
3.3%
0.3%
-$47M
$5.3B
$3.5B
Jun '22
$47.1B
$138M
3.4%
0.1%
$2.8B
$5.3B
$4.7B
Mar '22
$44.8B
-$1.4B
3.8%
-0.2%
-$501M
—
$2.4B
Dec '21
$45.5B
$49M
3.6%
-2.1%
$1.1B
—
$3.2B
Sep '21
$44.0B
$271M
3.7%
0.9%
-$713M
$5.7B
$2.5B
Jun '21
$42.6B
$116M
3.5%
0.4%
$539M
$6.2B
$3.4B
Mar '21
$39.3B
$119M
4.6%
1.2%
$177M
—
$3.5B
Valuation over time
How the market has priced CAH against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 67.4× (Jun '23) to 35.4× (Jun '26).
The price-to-sales ratio has risen from 0.1× (Mar '23) to 0.2× (Jun '26).
The dividend yield has fallen from 3.1% (Mar '23) to 0.9% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is CAH growing its revenue and profit?
Over the past 5 years, Cardinal Health's revenue has grown 7.8% per year. These are computed facts, not advice.
How much debt does CAH have?
As of FY2025, Cardinal Health reported $8.5B of total debt against $3.9B of cash; operating income covered interest expense 11×.
What is CAH's profit margin?
In FY2025, gross margin was 3.7%, operating margin 1.0%, and net margin 0.7%.
What is CAH's P/E ratio?
As of Jun '26, Cardinal Health traded at a price-to-earnings ratio of about 35.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.