Jun 2026 (Q4 FY26) — Aug 11, 2026
Cardinal Health Q4 FY26 — Strong Performance Across Segments, Reaffirms Long-Term EPS Growth
Read the full callCardinal Health (CAH) earnings
- Dec 2025
- Jun 2026 (Q4 FY26)
- Jun 2026
Cardinal Health earnings: last reported Tue, 11 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 65,627 | +18.8% YoY | Quarterly, as filed | Quarter to Dec 2025 | Revenue from operations as filed. |
| Operating margin | 1.1 | +0.1 pts YoY | Operating profit / revenue | Quarter to Dec 2025 | For the quarter; a change is in percentage points. |
| Net profit | 467 | +16.8% YoY | Quarterly, as filed | Quarter to Dec 2025 | Profit after tax as filed. |
Guidance
What management said, and what became of it
16 of 33 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted Free Cash Flow | $2.75 billion to $3.25 billion | Jun 2025 | In addition to the outstanding P&L performance, the company generated $5 billion in adjusted free cash flow for the year. | Achieved |
| Diluted weighted average shares | 237 million to 238 million | Dec 2025 | Ghosted | |
| Adjusted Free Cash Flow | $3.5 billion and $4 billion | Jun 2026 | With respect to cash flow, we expect to generate between $3.5 billion and $4 billion in adjusted free cash flow in fiscal '27 | New |
17 of CARDINAL HEALTH INC's 61 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 58 more targets are in the full ledger.
Claimed
- Enterprise operating earnings grew 30% in Q4 FY26 and 30% for the full FY26.
- Diluted EPS grew 40% in Q4 FY26 and 37% for the full FY26.
- The company generated $5 billion in adjusted free cash flow for FY26.
- Pharma segment profit grew 21% in Q4 FY26.
- Other growth businesses delivered 14% profit growth in Q4 FY26.
Qualified
- GMPD revenue declined 2% in Q4 FY26, impacted by revenue reduction from expected payables to customers associated with anticipated tariff refund and lower distribution volumes.
- IRA WAC changes created an approximate 500 basis points headwind to Pharma revenue growth in Q4 FY26.
- Protracted conflicts in Iran could move GMPD profit to the lower end of its FY27 guidance range.
Price
$252.65 −0.55% · −$1.41
Performance +61.5% 1Y
1Y: $156.41 on 17 Oct 2025 → $252.65. High $254.06 (16 Oct 2026), low $156.41 (17 Oct 2025).
- Previous close
- $254.06
- 52-week range
- $157.27 – $254.06
- One year
- +60.65%
Overview
- Symbol
- CAH
- Sector
- Health Care
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
16 of 33 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted Free Cash Flow | $2.75 billion to $3.25 billion | Jun 2025 | In addition to the outstanding P&L performance, the company generated $5 billion in adjusted free cash flow for the year. | Achieved |
| Diluted weighted average shares | 237 million to 238 million | Dec 2025 | Ghosted | |
| Adjusted Free Cash Flow | $3.5 billion and $4 billion | Jun 2026 | With respect to cash flow, we expect to generate between $3.5 billion and $4 billion in adjusted free cash flow in fiscal '27 | New |
Claimed
- Enterprise operating earnings grew 30% in Q4 FY26 and 30% for the full FY26.
- Diluted EPS grew 40% in Q4 FY26 and 37% for the full FY26.
- The company generated $5 billion in adjusted free cash flow for FY26.
- Pharma segment profit grew 21% in Q4 FY26.
- Other growth businesses delivered 14% profit growth in Q4 FY26.
Qualified
- GMPD revenue declined 2% in Q4 FY26, impacted by revenue reduction from expected payables to customers associated with anticipated tariff refund and lower distribution volumes.
- IRA WAC changes created an approximate 500 basis points headwind to Pharma revenue growth in Q4 FY26.
- Protracted conflicts in Iran could move GMPD profit to the lower end of its FY27 guidance range.
The full ledger
Open CARDINAL HEALTH INC’s full ledger
A free account opens 5 company ledgers a month. All 61 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q3 FY26) — Apr 30, 2026
Cardinal Health Q3 FY26 — Pharma and 'other' growth strength drive another raised outlook
Read the full callDec 2025 (Q2 FY26) — Feb 5, 2026
Cardinal Health Q2 FY26 — Strong Profit Growth Across All Segments and Raised Outlook
Read the full callEvery analysed call
Cardinal Health earnings calls (CAH)
Financials
What the filings say
Net profit, year on year: +17% (quarter to dec 2025 against dec 2024).
| Line item | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Sales | 54,868 | 59,867 | 52,277 | 55,264 | 54,878 | 60,159 | 64,009 | 65,627 |
| Operating profit | 369 | 401 | 568 | 549 | 730 | 428 | 668 | 707 |
| Operating margin | 0.7% | 0.7% | 1.1% | 1.0% | 1.3% | 0.7% | 1.0% | 1.1% |
| Interest | 28 | 9 | 32 | 35 | 74 | 74 | 80 | 88 |
| Profit before tax | 342 | 391 | 541 | 511 | 665 | 384 | 598 | 630 |
| Tax rate | 23.4% | 40.4% | 22.9% | 21.5% | 23.6% | 36.7% | 24.1% | 25.2% |
| Net profit | 261 | 235 | 416 | 400 | 506 | 239 | 450 | 467 |
| EPS ($ per share) | 1.07 | — | 1.71 | — | — | — | 1.89 | — |
| Line item | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2,763 | 2,789 | 2,806 | 2,813 | 2,746 | 2,917 | 2,956 | 2,887 |
| Reserves | 5,434 | 1,170 | 1,205 | -280 | -642 | -286 | 783 | 2,009 |
| Total liabilities | 34,633 | 38,974 | 42,830 | 44,760 | 46,306 | 48,333 | 55,756 | 60,023 |
| Fixed assets | 2,356 | 2,366 | 2,360 | 2,361 | 2,461 | 2,529 | 2,858 | 3,031 |
| Investments | — | — | — | — | — | 200 | — | — |
| Total assets | 40,963 | 40,766 | 44,453 | 43,878 | 43,349 | 45,121 | 53,122 | 57,299 |
| Line item | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 2,722 | 1,960 | 2,429 | 3,175 | 2,844 | 3,762 | 2,397 | 5,174 |
| Cash from investing | 338 | 493 | -378 | 567 | -454 | -1,849 | -5,593 | -2,584 |
| Cash from financing | -2,293 | -2,200 | -1,317 | -2,463 | -3,051 | -847 | 1,940 | -1,602 |
| Net cash flow | 768 | 240 | 636 | 1,363 | -669 | 1,057 | -1,259 | 982 |
| Capital expenditure | -328 | -375 | -400 | -387 | -481 | -511 | -547 | -649 |
| Free cash flow | 2,394 | 1,585 | 2,029 | 2,788 | 2,363 | 3,251 | 1,850 | 4,525 |
CAH revenue by segment
GMPD shrank from 6% to 5% of revenue over the last two years.
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Pharmaceutical and Specialty Solutions | 92% | 92% | 92% | 92% | 92% | 92% | 92% | 92% | +6.3% |
| GMPD | 6% | 6% | 6% | 5% | 5% | 5% | 5% | 5% | -2.2% |
| All Other Segments | 2% | 2% | 2% | 3% | 3% | 3% | 3% | 3% | +7.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q4 FY2026 · share of revenue
- US 99%
- Non Us 1%
As CAH cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
78 filings between Nov 5, 2025 and Aug 19, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$61.62M
35 sales by 8 insiders
Compensation
not trading decisions- 29
- Award — granted as compensation
- 14
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Hollar Jason M. | — | $29.38M | Aug 19, 2026 |
| Alt Aaron E | — | $10.45M | Aug 18, 2026 |
| Mason Stephen M | — | $8.27M | Aug 18, 2026 |
| Mayer Jessica L | — | $6.95M | Aug 18, 2026 |
| Greene Michelle D. | — | $3.37M | Aug 18, 2026 |
| WEITZMAN DEBORAH | — | $1.73M | Aug 18, 2026 |
| Hall Patricia Hemingway | — | $918.9K | Feb 6, 2026 |
| Scherer Mary C. | — | $546.5K | Aug 19, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 19, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 5,704 | $1.34M |
| Aug 19, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 3,457 | $809.9K |
| Aug 19, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 16,187 | $3.84M |
| Aug 19, 2026 | Scherer Mary C. Chief Accounting Officer | Sale | 100 | $23.7K |
| Aug 19, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 6,731 | $1.59M |
| Aug 19, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 6,244 | $1.49M |
| Aug 19, 2026 | Scherer Mary C. Chief Accounting Officer | Sale | 2,202 | $522.7K |
| Aug 19, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 6,206 | $1.45M |
| Aug 18, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 16,208 | $3.83M |
| Aug 18, 2026 | Alt Aaron E Chief Financial Officer | Sale | 12,228 | $2.88M |
| Aug 18, 2026 | WEITZMAN DEBORAH CEO, PSS Segment | Sale | 281 | $66.7K |
| Aug 18, 2026 | Alt Aaron E Chief Financial Officer | Sale | 13,685 | $3.24M |
| Aug 18, 2026 | Alt Aaron E Chief Financial Officer | Sale | 12,972 | $3.08M |
| Aug 18, 2026 | Mayer Jessica L Chief Legal/Compliance Officer | Sale | 3,900 | $915.1K |
| Aug 18, 2026 | WEITZMAN DEBORAH CEO, PSS Segment | Sale | 408 | $96.5K |
| Aug 18, 2026 | Mayer Jessica L Chief Legal/Compliance Officer | Sale | 10,864 | $2.58M |
| Aug 18, 2026 | Alt Aaron E Chief Financial Officer | Sale | 3,115 | $730.6K |
| Aug 18, 2026 | Mason Stephen M CEO, GMPD Segment | Sale | 12,829 | $3.04M |
| Aug 18, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 12,470 | $2.96M |
| Aug 18, 2026 | Mason Stephen M CEO, GMPD Segment | Sale | 3,100 | $727.2K |
| Aug 18, 2026 | WEITZMAN DEBORAH CEO, PSS Segment | Sale | 6,665 | $1.57M |
| Aug 18, 2026 | Mason Stephen M CEO, GMPD Segment | Sale | 10,876 | $2.57M |
| Aug 18, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 21,407 | $5.02M |
| Aug 18, 2026 | Hollar Jason M. Chief Executive Officer | Sale | 29,915 | $7.05M |
| Aug 18, 2026 | Greene Michelle D. Chief Information Officer | Sale | 2,500 | $586.4K |
| Aug 18, 2026 | Greene Michelle D. Chief Information Officer | Sale | 4,952 | $1.17M |
| Aug 18, 2026 | Greene Michelle D. Chief Information Officer | Sale | 3,512 | $829.9K |
| Aug 18, 2026 | Greene Michelle D. Chief Information Officer | Sale | 686 | $162.8K |
| Aug 18, 2026 | Mayer Jessica L Chief Legal/Compliance Officer | Sale | 4,426 | $1.05M |
| Aug 18, 2026 | Mayer Jessica L Chief Legal/Compliance Officer | Sale | 10,246 | $2.41M |
| Aug 18, 2026 | Mason Stephen M CEO, GMPD Segment | Sale | 8,195 | $1.93M |
| Aug 15, 2026 | Pitteroff Valerie Christine Chief Human Resources Officer | Tax withheld | 1,852 | $435.5K |
| Aug 15, 2026 | Scherer Mary C. Chief Accounting Officer | Tax withheld | 1,757 | $413.2K |
| Aug 15, 2026 | Scherer Mary C. Chief Accounting Officer | Award | 765 | $0 |
| Aug 15, 2026 | Greene Michelle D. Chief Information Officer | Tax withheld | 10,031 | $2.36M |
| Aug 15, 2026 | WEITZMAN DEBORAH CEO, PSS Segment | Tax withheld | 29,759 | $7.00M |
| Aug 15, 2026 | WEITZMAN DEBORAH CEO, PSS Segment | Award | 7,314 | $0 |
| Aug 15, 2026 | Mason Stephen M CEO, GMPD Segment | Tax withheld | 25,289 | $5.95M |
| Aug 15, 2026 | Mason Stephen M CEO, GMPD Segment | Award | 5,868 | $0 |
| Aug 15, 2026 | Mayer Jessica L Chief Legal/Compliance Officer | Tax withheld | 25,285 | $5.95M |
| Aug 15, 2026 | Mayer Jessica L Chief Legal/Compliance Officer | Award | 6,378 | $0 |
| Aug 15, 2026 | Greene Michelle D. Chief Information Officer | Award | 2,551 | $0 |
| Aug 15, 2026 | Alt Aaron E Chief Financial Officer | Tax withheld | 30,730 | $7.23M |
| Aug 15, 2026 | Alt Aaron E Chief Financial Officer | Award | 8,079 | $0 |
| Aug 15, 2026 | Hollar Jason M. Chief Executive Officer | Tax withheld | 103,449 | $24.33M |
| Aug 15, 2026 | Pitteroff Valerie Christine Chief Human Resources Officer | Award | 2,977 | $0 |
| Aug 15, 2026 | Hollar Jason M. Chief Executive Officer | Award | 30,616 | $0 |
| Aug 4, 2026 | Greene Michelle D. Chief Information Officer | Award | 17,230 | $0 |
| Aug 4, 2026 | Hollar Jason M. Chief Executive Officer | Award | 187,965 | $0 |
| Aug 4, 2026 | Pitteroff Valerie Christine Chief Human Resources Officer | Award | 2,610 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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