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Jun 30, 2025
Cardinal Health Q4 2025 Earnings Report
Cardinal Health reported solid Q4 2025 results, with strong non-GAAP profit growth and raised FY26 guidance.
Key Takeaways
Cardinal Health delivered a stable revenue of $60.2B in Q4 2025 and achieved a 13% increase in non-GAAP EPS to $2.08. Segment profits grew double digits across all divisions, driven by volume and acquisition growth. The company also raised FY26 EPS guidance.
Revenue held steady at $60.2B in Q4 2025, up 21% excluding a prior contract expiration.
Non-GAAP operating earnings rose 19% to $719M.
EPS reached $1.00 (GAAP), $2.08 (Non-GAAP).
Cardinal Health raised FY26 non-GAAP EPS guidance to $9.30–$9.50.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
FY26 guidance was raised based on strong segment momentum and structural profitability improvements.
Positive Outlook
- FY26 non-GAAP EPS raised to $9.30–$9.50.
- Pharma & Specialty segment revenue/profit expected to grow 11–13%.
- Other segment revenue forecasted to grow 26–28%.
- Segment profit for GMPD expected to exceed $140M.
- Free cash flow projected between $2.75B–$3.25B.
Challenges Ahead
- Higher non-GAAP effective tax rate expected (22–24%).
- Interest and other expenses forecasted at ~$275M.
- FY25 revenue still affected by expired contract.
- Increased financing costs from acquisitions.
- Full-year GAAP net income growth constrained by non-operating expenses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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