Cardinal Health, Inc. (CAH) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Medical - Distribution
EV/EBITDA
↓
16.91
↓-66% vs avg
5yr avg: 49.21
30Y Low4.8·High19.5
P/FCF
↑
25.06
↑+134% vs avg
5yr avg: 10.71
30Y Low5.3·High72.1
P/B Ratio
N/A
—
5yr avg: 9.36
30Y Low0.9·High9.4
ROE
↓
N/A
—
5yr avg: -69.2%
30Y Low-172%·High34%
Debt/EBITDA
↓
3.05
↓-82% vs avg
5yr avg: 16.63
30Y Low0.3·High7.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CAH Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Cardinal Health, Inc. trades at 30.5x earnings, 22% below its 5-year average of 39.3x, sitting at the 89th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.2x, the stock trades at a premium of 38%. On a free-cash-flow basis, the stock trades at 25.1x P/FCF, 134% above the 5-year average of 10.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $46.4B | $40.7B | $24.3B | $24.8B | $14.6B | $16.8B | $15.3B | $14.2B | $15.4B | $24.9B | $25.7B |
| Enterprise Value | $51.8B | $46.1B | $24.8B | $25.9B | $15.7B | $20.1B | $19.3B | $19.7B | $22.6B | $28.5B | $28.9B |
| P/E Ratio → | 30.54 | 26.05 | 28.50 | 75.06 | — | 27.45 | — | 10.40 | 60.28 | 19.33 | 18.06 |
| P/S Ratio | 0.21 | 0.18 | 0.11 | 0.12 | 0.08 | 0.10 | 0.10 | 0.10 | 0.11 | 0.19 | 0.21 |
| P/B Ratio | — | — | — | — | — | 9.36 | 8.53 | 2.24 | 2.54 | 3.65 | 3.92 |
| P/FCF | 25.06 | 21.98 | 7.47 | 10.49 | 5.33 | 8.27 | 9.65 | 5.92 | 6.45 | 31.29 | 10.27 |
| P/OCF | 19.34 | 16.96 | 6.46 | 8.71 | 4.67 | 6.91 | 7.80 | 5.21 | 5.56 | 21.06 | 8.66 |
P/E links to full P/E history page with 30-year chart
CAH EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Cardinal Health, Inc.'s enterprise value stands at 16.9x EBITDA, 66% below its 5-year average of 49.2x. The Healthcare sector median is 14.0x, placing the stock at a 21% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.21 | 0.11 | 0.13 | 0.09 | 0.12 | 0.13 | 0.14 | 0.17 | 0.22 | 0.24 |
| EV / EBITDA | 16.91 | 15.05 | 12.68 | 17.92 | 184.37 | 16.01 | — | 6.43 | 19.54 | 10.03 | 9.33 |
| EV / EBIT | 22.78 | 19.92 | 19.78 | 34.64 | — | 39.95 | — | 9.62 | 224.07 | 13.39 | 11.79 |
| EV / FCF | — | 24.93 | 7.62 | 10.95 | 5.73 | 9.90 | 12.17 | 8.22 | 9.49 | 35.70 | 11.54 |
CAH Profitability
Margins and return-on-capital ratios measuring operating efficiency
Cardinal Health, Inc. earns an operating margin of 1.0%. ROIC of 3378.7% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 3.7% | 3.7% | 3.3% | 3.4% | 3.6% | 4.2% | 4.5% | 4.7% | 5.2% | 5.0% | 5.4% |
| Operating Margin | 1.0% | 1.0% | 0.5% | 0.4% | -0.3% | 0.3% | -2.7% | 1.4% | 0.1% | 1.6% | 2.0% |
| Net Profit Margin | 0.7% | 0.7% | 0.4% | 0.2% | -0.5% | 0.4% | -2.4% | 0.9% | 0.2% | 1.0% | 1.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -172.4% | 34.1% | -90.9% | 22.0% | 4.0% | 19.2% | 22.2% |
| ROA | 3.2% | 3.2% | 1.9% | 0.8% | -2.1% | 1.4% | -9.0% | 3.4% | 0.6% | 3.5% | 4.4% |
| ROIC | 3378.7% | 3378.7% | — | — | -16.6% | 6.5% | -34.9% | 12.3% | 0.8% | 15.8% | 21.8% |
| ROCE | 19.2% | 19.2% | 13.0% | 6.6% | -4.0% | 2.8% | -24.1% | 12.1% | 0.7% | 12.7% | 18.0% |
CAH Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Cardinal Health, Inc. carries a Debt/EBITDA ratio of 3.0x, which is moderately leveraged (roughly in line with the sector average of 3.1x). Net debt stands at $5.5B ($9.3B total debt minus $3.9B cash). Interest coverage of 10.8x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | 3.74 | 3.78 | 1.27 | 1.49 | 1.52 | 0.84 |
| Debt / EBITDA | 3.05 | 3.05 | 2.87 | 3.58 | 68.29 | 5.35 | — | 2.62 | 7.78 | 3.66 | 1.79 |
| Net Debt / Equity | — | — | — | — | — | 1.84 | 2.23 | 0.87 | 1.20 | 0.51 | 0.48 |
| Net Debt / EBITDA | 1.78 | 1.78 | 0.24 | 0.76 | 12.80 | 2.64 | — | 1.80 | 6.26 | 1.24 | 1.03 |
| Debt / FCF | — | 2.96 | 0.15 | 0.47 | 0.40 | 1.63 | 2.53 | 2.30 | 3.04 | 4.41 | 1.27 |
| Interest Coverage | 10.77 | 10.77 | 24.55 | 8.89 | -4.33 | 2.79 | -14.85 | 6.96 | 0.31 | 10.57 | 13.79 |
CAH Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.94x is below 1.0, meaning current liabilities exceed current assets — though the company's $3.9B cash position helps mitigate short-term liquidity concerns. The quick ratio of 0.50x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.00x to 0.94x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.94 | 0.94 | 0.98 | 1.00 | 1.08 | 1.12 | 1.10 | 1.07 | 1.07 | 1.34 | 1.11 |
| Quick Ratio | 0.50 | 0.50 | 0.56 | 0.52 | 0.57 | 0.60 | 0.54 | 0.54 | 0.53 | 0.80 | 0.58 |
| Cash Ratio | 0.10 | 0.10 | 0.14 | 0.12 | 0.15 | 0.12 | 0.12 | 0.10 | 0.08 | 0.32 | 0.12 |
| Asset Turnover | — | 4.19 | 5.03 | 4.73 | 4.13 | 3.65 | 3.75 | 3.55 | 3.42 | 3.24 | 3.56 |
| Inventory Turnover | 12.74 | 12.74 | 14.67 | 12.29 | 11.18 | 10.67 | 11.07 | 10.82 | 10.53 | 10.92 | 10.83 |
| Days Sales Outstanding | — | 21.72 | 19.45 | 19.78 | 21.26 | 20.45 | 19.72 | 21.19 | 20.81 | 22.60 | 22.24 |
CAH Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Cardinal Health, Inc. returns 2.7% to shareholders annually — split between a 1.0% dividend yield and 1.7% buyback yield. The payout ratio of 31.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 1.2% | 2.1% | 2.1% | 3.8% | 3.4% | 3.7% | 4.1% | 3.8% | 2.3% | 2.0% |
| Payout Ratio | 31.6% | 31.6% | 58.6% | 159.1% | — | 93.8% | — | 42.3% | 227.0% | 44.8% | 35.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 3.8% | 3.5% | 1.3% | — | 3.6% | — | 9.6% | 1.7% | 5.2% | 5.5% |
| FCF Yield | 4.0% | 4.6% | 13.4% | 9.5% | 18.8% | 12.1% | 10.4% | 16.9% | 15.5% | 3.2% | 9.7% |
| Buyback Yield | 1.7% | 1.9% | 3.1% | 8.1% | 6.9% | 1.2% | 2.3% | 4.2% | 3.6% | 2.4% | 2.5% |
| Total Shareholder Yield | 2.7% | 3.1% | 5.1% | 10.2% | 10.7% | 4.6% | 6.0% | 8.3% | 7.4% | 4.7% | 4.5% |
| Shares Outstanding | — | $242M | $247M | $262M | $279M | $294M | $293M | $301M | $315M | $320M | $330M |
Peer Comparison
Compare CAH with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CAHYou | $46B | 30.5 | 16.9 | 25.1 | 3.7% | 1.0% | — | 3378.7% | 3.0 |
 MCK | $98B | 31.1 | 19.9 | 18.8 | 3.5% | 1.2% | — | 540.6% | 1.5 |
 HSIC | $9B | 22.7 | 11.3 | 14.9 | 29.1% | 5.7% | 8.3% | 7.1% | 3.4 |
 OMI | $171M | -0.2 | 1.7 | — | — | 1.0% | -2111.6% | 1.8% | 2.6 |
 NXST | $6B | 66.4 | 4.6 | 8.1 | — | 17.2% | — | 19.1% | — |
 JNJ | $544B | 39.0 | 18.9 | 27.4 | 69.1% | 24.9% | 20.1% | 20.7% | 1.2 |
 PFE | $150B | 19.4 | 10.7 | 16.6 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
 ABT | $152B | 11.4 | 15.9 | 23.9 | 50.8% | 16.3% | 30.9% | 9.9% | 1.5 |
 BDX | $52B | 24.7 | 14.0 | 19.6 | 45.4% | 11.8% | 6.5% | 4.3% | 3.8 |
 CVS | $103B | 58.1 | 12.5 | 13.1 | 13.8% | 2.6% | 2.3% | 5.0% | 6.2 |
 HCA | $96B | 15.1 | 9.4 | 12.5 | 41.5% | 15.8% | — | 19.9% | 3.2 |
| Healthcare Median | — | 22.2 | 14.0 | 18.6 | 64.1% | -5.3% | -34.0% | -11.2% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full CAH Stock Analysis
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Start ComparisonCAH — Frequently Asked Questions
Quick answers to the most common questions about buying CAH stock.
What is Cardinal Health, Inc.'s P/E ratio?
Cardinal Health, Inc.'s current P/E ratio is 30.5x. The historical average is 24.2x. This places it at the 89th percentile of its historical range.
What is Cardinal Health, Inc.'s EV/EBITDA?
Cardinal Health, Inc.'s current EV/EBITDA is 16.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
Is CAH stock overvalued?
Based on historical data, Cardinal Health, Inc. is trading at a P/E of 30.5x. This is at the 89th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Cardinal Health, Inc.'s dividend yield?
Cardinal Health, Inc.'s current dividend yield is 1.04% with a payout ratio of 31.6%.
What are Cardinal Health, Inc.'s profit margins?
Cardinal Health, Inc. has 3.7% gross margin and 1.0% operating margin.
How much debt does Cardinal Health, Inc. have?
Cardinal Health, Inc.'s Debt/EBITDA ratio is 3.0x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.