Cardinal Health, Inc. (CAH)财务
NYSE · Healthcare · Medical - Distribution · 员工61,344人 · CEO Jason Hollar
- 股价
- $250.48 -0.24%
- 市值
- $580亿
- 企业价值
- $631亿
- 最近财报
- Q4 '26 2026-08-11提交
- 下次财报
- 2026-11-05 EPS预期 $2.94
营收(TTM)$2540亿+14.2% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)1.0%0.0 百分点 对比去年同期营业利润 $26.1亿
净利润(TTM)$17.1亿+9.8% 对比去年同期税后,含营业外收益
自由现金流(TTM)$45.3亿+144.6% 对比去年同期资本支出 $6.49亿
稀释EPS(TTM)$7.23+12.1% 对比去年同期最近4个季度之和
净现金-$50.9亿+6.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $580亿 EV $631亿
- 营收
- $2540亿 过去12个月
- 营收增速
- +5% FY2027年一致预期
- 净利润率
- 0.7% 净利润 / 营收,TTM
- P/E
- 34.5× 预期 19.9×(FY2027)
- P/S
- 0.2× 股价 / 营收,TTM
- EV / EBITDA
- 18.1× TTM
- 自由现金流
- $45.3亿 过去12个月
- 净利润
- $17.1亿 过去12个月
- 营收预期
- $2660亿 FY2027年一致预期
- 盈利
- 2026-11-05 营收预期 $667亿
- 股息
- $2.05 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-11):营收低于预期2.3%,EPS 超预期20.2%营收$637亿,预期$652亿(-2.3%);EPS $2.91,预期$2.42(+20.2%)。
- 营收增长放缓:同比6.1%Q4 '26营收$639亿,此前四个季度的平均值为13.2%。
- 营业利润率1.0%(TTM),较去年同期0.0 百分点营收增长14.2%,营业利润增长14.9%。
- 税前利润的20.2%被营业外亏损吞噬税前利润$21.7亿,营业利润$26.1亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的0.3%(去年为0.2%)最近4个季度投入$6.49亿(同比+18.6%)。自由现金流$45.3亿,相当于净利润的264.0%。
- 股东回报$18.5亿 = 自由现金流的40.9%回购$13.6亿(去年为$0),股息$4.91亿,股权激励$3.67亿(TTM)。
- 稀释股数一年内减少1.2%Q4 '26稀释股数2.37亿,一年前为2.4亿。
- 净债务 $50.9亿现金 + 短期投资 $48.6亿,含租赁债务 $99.5亿;一年前净债务 $54.7亿。
上一季度:Q4 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q4 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $639亿 | $602亿 | +6.1% |
| 毛利率 | 4.3% | 3.7% | +0.6 百分点 |
| 营业利润 | $7.29亿 | $4.28亿 | +70.3% |
| 营业利润率 | 1.1% | 0.7% | +0.4 百分点 |
| 净利润 | $3.94亿 | $2.39亿 | +64.9% |
| 稀释EPS | $1.69 | $1.00 | +69.0% |
| 经营现金流 | $16.9亿 | $15.3亿 | +10.8% |
| 资本支出 | $2.64亿 | $2.32亿 | +13.8% |
| 自由现金流 | $14.3亿 | $13亿 | +10.3% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $5800万 | $1.53亿 | -62.1% |
实际 vs 一致预期
2026-08-11| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $637亿 | $652亿 | -2.3% |
| EPS(一致预期口径) | $2.91 | $2.42 | +20.2% |
来自2026-08-11发布的Q4 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q4 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Pharmaceutical Member | $1180亿 | +113.2% | 92.4% | – | – | |
| GMPD | $63.1亿 | +97.3% | 4.9% | – | – | |
| Other Operating Segment | $33.6亿 | +108.9% | 2.6% | – | – |
按地区划分的营收
占总额比例| 分部 | Q4 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $1270亿 | +112.4% | 99.3% | – | – | |
| Non-US | $8.47亿 | +95.2% | 0.7% | – | – |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q4 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Pharmaceutical And Specialty Solutions | – | – | $6.45亿 | +20.6% | – | – | $27.8亿 |
| GMPD | – | – | $1.5亿 | +114.3% | – | – | $2.58亿 |
| All other segments | – | – | $1.83亿 | +14.4% | – | – | $7.07亿 |
| Corporate (unallocated) | – | – | -$2.49亿 | +26.1% | – | – | -$11.4亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $51.7亿
- 资本支出
- -$6.49亿
- 股票回购
- -$13.6亿
- 股息
- -$4.91亿
- 收购
- -$19.9亿
- 债务净发行
- $3.37亿
- 股权激励费用
- $3.67亿
- 自由现金流
- $45.3亿
- 股东回报 / FCF
- 40.9%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 34.5× | 40.4× 5年中的4年 | 25.9× – 75.1× |
| EV / EBITDA | 18.1× | 69.5× | 12.5× – 284.9× |
| EV / 营收 | 0.2× | 0.2× | 0.1× – 0.2× |
| 股价 / FCF | 12.8× | 11.5× | 5.3× – 21.9× |
| 股价 / 净资产 | -20.5× | – | – |
| FCF收益率 | 7.8% | 10.9% | 4.6% – 18.8% |
| 投入资本回报率 | 13.2% | 6.5% | -4.3% – 13.2% |
| 净资产收益率 | -59.7% | -4.2% | -59.5% – 132.3% |
分析师
一致目标价 $278.22 (+11.1%)
区间 $265.00 – $295.00 · 评级 Buy
强烈买入0
买入18
持有15
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $2660亿 | +4.5% | $12.57 | +73.9% | 19.9× | 10 |
| FY2028 | $2820亿 | +6.0% | $14.08 | +12.0% | 17.8× | 9 |
| FY2029 | $2970亿 | +5.6% | $15.59 | +10.8% | 16.1× | 4 |
| FY2030 | $3060亿 | +3.1% | $17.81 | +14.2% | 14.1× | 1 |
| FY2031 | $3140亿 | +2.5% | $20.43 | +14.7% | 12.3× | 2 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Cardinal Health, Inc.在近期10-Q / 10-K文件中标记的全部243项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | $100万 | – | – | |
| – | – | – | 0.0% | – | – | |
| – | – | – | $1.56亿 | – | – | |
| – | – | – | 7.1% | – | – | |
| – | – | – | $1.55亿 | – | – | |
| – | – | – | $6400万 | – | – | |
| – | – | – | $1.19亿 | – | – | |
| Accounts Payable | $383亿 | $347亿 | +10.4% | $383亿 | $347亿 | +10.4% |
| Accounts Payable, Current | $383亿 | $347亿 | +10.3% | $383亿 | $347亿 | +10.3% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $1400万2025-12-31 | $1200万 | +16.7% | $7400万 | $5300万 | +39.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $49.4亿 | $46.6亿 | +5.9% | $49.4亿 | $46.6亿 | +5.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.65亿 | -$1.55亿 | -6.5% | -$1.65亿 | -$1.55亿 | -6.5% |
| Amortization of Intangible Assets | $8400万2025-12-31 | $6900万 | +21.7% | $3.61亿 | $3.03亿 | +19.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | – | – | – | 100万2024-06-30 | 200万 | -50.0% |
| Assets | $573亿 | $531亿 | +7.9% | $573亿 | $531亿 | +7.9% |
| Assets, Current | $388亿 | $364亿 | +6.5% | $388亿 | $364亿 | +6.5% |
| Cash and Cash Equivalents, at Carrying Value | $48.6亿 | $38.7亿 | +25.3% | $48.6亿 | $38.7亿 | +25.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $48.6亿 | $38.7亿 | +25.3% | $48.6亿 | $38.7亿 | +25.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$18.2亿2025-12-31 | $9.43亿 | -292.6% | $9.82亿 | -$12.6亿 | +178.0% |
| Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | $02025-12-31 | $0 | – | $0 | $0 | – |
| Common Stock, Dividends, Per Share, Cash Paid | – | – | – | $2.04 | $2.02 | +1.0% |
| Common Stock, Dividends, Per Share, Declared | $0.512025-12-31 | $0.51 | +1.0% | – | – | – |
| Common Stock, Shares Authorized | 7.55亿 | 7.55亿 | 0.0% | 7.55亿 | 7.55亿 | 0.0% |
| Common Stock, Shares, Issued | 2.71亿 | 2.71亿 | 0.0% | 2.71亿 | 2.71亿 | 0.0% |
| Common Stock, Value, Issued | $28.9亿 | $29.6亿 | -2.3% | $28.9亿 | $29.6亿 | -2.3% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $4.73亿2025-12-31 | $3.75亿 | +26.1% | $17亿 | $15.7亿 | +8.3% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $4.77亿2025-12-31 | $3.76亿 | +26.9% | $17亿 | $15.8亿 | +7.2% |
| Cost of Goods and Services Sold | $632亿2025-12-31 | $533亿 | +18.6% | $2440亿 | $2140亿 | +14.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.64亿 | $1.35亿 | +21.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $9100万 | $8200万 | +11.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $3.78亿 | $2.89亿 | +30.8% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.23亿 | $7200万 | +70.8% |
| Debt and Lease Obligation | $88.9亿 | $85.3亿 | +4.2% | $88.9亿 | $85.3亿 | +4.2% |
| Debt, Long-term and Short-term, Combined Amount | $90.3亿2025-09-30 | $52亿 | +73.7% | – | – | – |
| DebtInstrumentIssuedPrincipal | $02025-12-31 | – | – | $10亿 | $29亿 | -65.5% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1.04亿 | $2.05亿 | -49.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $200万 | -$100万 | +300.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $9100万 | $2.43亿 | -62.6% |
| Deferred Income Taxes and Other Assets, Noncurrent | $6300万 | $6400万 | -1.6% | $6300万 | $6400万 | -1.6% |
| Deferred Income Taxes and Other Tax Liabilities, Noncurrent | $23.7亿 | $23.6亿 | +0.3% | $23.7亿 | $23.6亿 | +0.3% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$1500万 | $3900万 | -138.5% |
| Deferred Tax and Other Liabilities, Noncurrent | $91.2亿 | $88.8亿 | +2.6% | $91.2亿 | $88.8亿 | +2.6% |
| Deferred Tax Assets, Gross | $13.3亿 | $12.3亿 | +8.3% | $13.3亿 | $12.3亿 | +8.3% |
| Deferred Tax Assets, Net | $10.8亿 | $9.76亿 | +10.1% | $10.8亿 | $9.76亿 | +10.1% |
| Deferred Tax Assets, Other | $9600万 | $9700万 | -1.0% | $9600万 | $9700万 | -1.0% |
| Deferred Tax Assets, Tax Credit Carryforwards | $4.26亿 | $3.86亿 | +10.4% | $4.26亿 | $3.86亿 | +10.4% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $2400万 | $2300万 | +4.3% | $2400万 | $2300万 | +4.3% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $7亿 | $6.51亿 | +7.5% | $7亿 | $6.51亿 | +7.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | $3500万 | $2600万 | +34.6% | $3500万 | $2600万 | +34.6% |
| Deferred Tax Assets, Valuation Allowance | $2.57亿 | $2.54亿 | +1.2% | $2.57亿 | $2.54亿 | +1.2% |
| Deferred Tax Liabilities, Deferred Expense, Reserves and Accruals | $9.93亿 | $9.81亿 | +1.2% | $9.93亿 | $9.81亿 | +1.2% |
| Deferred Tax Liabilities, Goodwill and Intangible Assets | $8.26亿 | $8.34亿 | -1.0% | $8.26亿 | $8.34亿 | -1.0% |
| Deferred Tax Liabilities, Gross | $33.8亿 | $32.8亿 | +3.2% | $33.8亿 | $32.8亿 | +3.2% |
| Deferred Tax Liabilities, Inventory | $10.8亿 | $11亿 | -2.5% | $10.8亿 | $11亿 | -2.5% |
| Deferred Tax Liabilities, Net | $23.1亿 | $23亿 | +0.3% | $23.1亿 | $23亿 | +0.3% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $4.88亿 | $3.58亿 | +36.3% | $4.88亿 | $3.58亿 | +36.3% |
| Defined Contribution Plan, Cost | – | – | – | $1.52亿 | $8900万 | +70.8% |
| Depreciation | – | – | – | $5.89亿 | $4.88亿 | +20.7% |
| Depreciation, Depletion and Amortization | $2.34亿2025-12-31 | $1.92亿 | +21.9% | $9.56亿 | $7.9亿 | +21.0% |
| Derivative Asset, Fair Value, Gross Asset | $2500万 | $2000万 | +25.0% | $2500万 | $2000万 | +25.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-K 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31, 10-Q 2025-09-30, 10-K 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-12-31, 10-Q 2024-09-30, 10-K 2024-06-30
数据截至 2026-11-02