Stock

Cardinal Health

CAH

Medical - Distribution · Healthcare

Also trades as: 0HTG.L GBP 2.52 (-1.65%)

Price

$249.57

-6.07 (-2.37%)

Market Cap

$57.79B

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Oct 25, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Weak

6/30

Growth

Strong

16/20

Cash Flow

Strong

7/10

Stability

Mixed

3/10

Valuation

Good

6/10

Ownership

Weak

1/15

Dividends

Weak

1/5

40 of 100 counted points = Winston Score 40.

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Share count falling — buybacks

−15.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 279.0M (2022) → 237.0M (2026)

§Winston Score History

The full picture

Cardinal Health is one of the largest distributors of pharmaceuticals and medical supplies in the United States. It moves drugs from manufacturers to hospitals, pharmacies, and clinics — acting like a giant middleman in the healthcare supply chain. The company also sells medical products like gloves, gowns, and surgical kits under its own brand.

Cardinal Health makes money by buying products in bulk and reselling them at a small markup, which explains its very thin profit margins. It operates mainly in the U.S., with some international presence, and generates over $200 billion in annual revenue, making it one of the largest companies in America by sales. Its size and deep relationships with thousands of healthcare customers create a real advantage, but the business depends heavily on a small number of large pharmacy chains for a significant portion of revenue, which is a meaningful concentration risk going forward.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.1% YoY

YoY Growth Rate

Slow revenue growth

Reported EPS Growth

+71.0% YoY

Quarterly reporting periods ended:

30 Jun 2025: $1.00

30 Jun 2026: $1.71

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

$0/ year

0.0% of revenue

Below sector average (18%)

Research and development spending

Insider Activity

0.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$4.9B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Cardinal Health is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

4.3%

Thin — 4.3% gross margin

Profit after running costs

Operating Margin

1.1%

Thin — 1.1% operating margin

Return on the money invested

ROCE

10.3%

Below par — 10.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+14.2%

Fast-growing sales (+14.2% YoY)

Profit growth

EPS YoY

+12.4%

Earnings growing (+12.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

302%

Turns 302% of profit into real cash

Spare cash per sale

FCF Margin

1.8%

Thin free cash flow (1.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

—

Data not available

Covers its interest

Interest Cover

7.51x

Adequate interest coverage (7.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

34.3x

Pricey — P/E 34.3

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+18.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (34.3 → 16.0)

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Dividends

Dividend

Dividend Yield

0.83%

Small dividend — 0.83% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+1.0%

Dividend flat

Payout Ratio

29%

no trend

Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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