NYSE · CAH
Cardinal Health, Inc.
Healthcare · Medical - Distribution
$251.54▲ 0.79% ($1.97)at close
After hours$251.01▼ 0.21%7:05 PM ET
Valuation
Cash-flow DCF
Verdict: cheap. Price below all scenarios.
The price holds with free cash flow shrinking 8.8% a year for 5 years. Our scenarios assume −8.4–21.6%.
That's below its past 10-year pace of 6.6%.
Value per share
Base case
$537.72
Price used $251.54 is 53% below this
USD · TTM ending Jun 30, 2026 · Price Oct 26, 8:00 PM UTC
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
3 more notes
CapEx normalization ceiling applied: historical capex ratio was set at smaller revenue scale. Capped at 2× TTM capex.
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Reported total debt includes capitalised leases (~13% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.
Free cash flow each value needs
Free cash flow today $3.8B. The price needs $2.9B by 2036. Base case: $6.2B. At its recent pace: $7.2B. Bear to Bull: $2.9B to $17.7B.
Free cash flow today $3.8B. The price needs $2.9B by 2036. Base case: $6.2B. At its recent pace: $7.2B. Bear to Bull: $2.9B to $17.7B.
Free cash flow in 2036
today $3.8B
−$3.4Bless than the Base case
Value per share · Base case
$537.72
Price $251.54
53% below this
- Stage 1 growth, yrs 1–5
- 6.6%
- Stage 2 growth, yrs 6–10
- 3.6%
- Discount rate
- 6.6%
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
3 more notes
CapEx normalization ceiling applied: historical capex ratio was set at smaller revenue scale. Capped at 2× TTM capex.
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Reported total debt includes capitalised leases (~13% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.
USD · TTM ending Jun 30, 2026 · Price Oct 26, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 53.57% over the last year. Revenue grew 14.23% in FY2026 versus FY2025. Operating margin moved from 1.02% to 1.03% (FY2026 versus FY2025). Free cash flow grew 144.59% in FY2026 versus FY2025.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/FCF range (79th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at 1.03% — continued expansion would be needed to justify the premium. Revenue growth of 14.23% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Return analysis
Company profile
Cardinal Health, Inc. operates as a global, integrated provider of healthcare services and products, with its reach spanning the United States, Canada, Europe, Asia, and other international markets.
Market multiples
Stock splits
Every 2 shares became 3
Every 2 shares became 3
Every 2 shares became 3
Every 4 shares became 5
Every 4 shares became 5
Every 4 shares became 5
Every 4 shares became 5
Every 10 shares became 11
Profitability & growth
Analyst consensus
18
Buy
15
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Actuals vs estimates by quarter, or any quarter against the same one a year earlier.
Next report
Nov 5, 2026
Q1 FY27 · EPS est $2.94 · Revenue est $66.7B
Same quarter, year over year
FY26 Full year +36.7%Each cell vs the same quarter a year earlier (the cell below) · Q1–Q4 combined $11.26 vs $8.24 · all 4 quarters up
Q1
Q2
Q3
Q4
FY total
FY27
—
—
—
—
FY26
FY25
FY24
Fiscal year totals
- FY26
- $11.26
- +36.7%
- FY25
- $8.24
- +10.3%
- FY24
- $7.47
- —
Q4 FY26
Reported Aug 11, 2026 · Latest
HoverTap a cell to inspect
Actual
$2.91
Estimate
$2.42
Year over year
+39.9%
Vs prior quarter
-8.2%
Institutional Sentiment
Cardinal Health, Inc. · CAH
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.