Here are the 10-K annual reports from Cardinal Health, Inc. (CAH) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow CAH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CAH filings page.
Cardinal Health reported solid growth for the fiscal year ended June 30, 2026. Revenue rose 14% to $254.2 billion, driven mainly by branded and specialty pharmaceutical demand, MSO platform acquisitions, and growth in at-Home Solutions, Nuclear and Precision Health Solutions, and OptiFreight® Logistics. GAAP operating earnings increased 15% to $2.6 billion, while non-GAAP operating earnings rose 30% to $3.6 billion. GAAP diluted EPS grew 12% to $7.23 and non-GAAP diluted EPS rose 37% to $11.26.
Pharma segment profit increased 23% to $2.8 billion, GMPD segment profit rose 91% to $258 million, and Other segment profit grew 37% to $707 million. Cash from operations was $5.2 billion, supporting the $1.9 billion Solaris Health acquisition, $1.4 billion of share repurchases, dividends, and debt repayment; year-end cash was $4.9 billion and debt obligations totaled $8.9 billion. Results were tempered by a $184 million goodwill impairment for Navista & ION, a $122 million impairment on the Outcomes equity interest, higher interest expense, ongoing opioid settlement obligations with $4.3 billion accrued, and tariff-related cost pressures with potential future increases on pharmaceuticals.
Cardinal Health reported consolidated revenue of $222.6 billion for fiscal 2025, down 2% from the prior year largely because key Pharma distribution contracts with OptumRx expired (OptumRx accounted for 17% of consolidated revenue in fiscal 2024). Despite lower revenue, GAAP operating earnings rose 83% to $2.3 billion and GAAP diluted EPS increased 87% to $6.45, while non-GAAP operating earnings rose 15% to $2.8 billion and non-GAAP diluted EPS was $8.24, reflecting stronger branded and specialty pharmaceutical contributions and results from newly acquired MSO and at-home businesses.
The company deployed $5.3 billion for acquisitions in fiscal 2025, completed major transactions including a 73% interest in GI Alliance (~$2.8 billion), ADS ($1.1 billion), and ION ($1.1 billion), and recognized higher acquisition-related amortization and costs. Cash and equivalents fell to $3.9 billion, long-term obligations were $8.5 billion, and an opioid litigation accrual totaled $4.9 billion, while interest expense increased to $215 million due to new debt financing.