Form 10-K · Annual report
Cardinal Health 10-K, filed Aug 11, 2026
- Filed
- CIK
- 0000721371
- Accession no.
- 0000721371-26-000038
Summary
Cardinal Health reported fiscal 2026 total revenue of $254.2 billion, up 14%, and consolidated operating earnings of $2.6 billion, up 15%, as Pharmaceutical and Specialty Solutions segment profit rose 23% to $2.8 billion. The company paid about $200 million in IEEPA tariffs, recorded an approximately $200 million receivable expected refund in the fourth quarter, and said GLP-1 demand growth moderated in fiscal 2026 and is expected to continue moderating.
Key points
- Fiscal 2026 Pharma segment revenue rose 15% to $234.8 billion, GMPD revenue was roughly flat at $12.7 billion, and Other segment revenue rose 26% to $6.8 billion.
- Gross margin increased 20% to $9.8 billion, while SG&A expenses increased 14% to $6.1 billion.
- The U.S. Supreme Court ruled in February 2026 that IEEPA tariffs were unlawful, and Cardinal Health's refund requests under CBP Phases 1 and 2 were submitted and accepted.
- An April 2026 presidential proclamation imposed tariffs on imported branded pharmaceutical products and associated ingredients, and the President indicated generic pharmaceutical products would face 100% tariffs beginning in 2028 and 200% beginning in 2029.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
roducts. The Inflation Reduction Act has and will continue to adversely impact our revenue by capping prices for certain drugs; however, our profitability has not been negatively impacted. Additionally, the Executive Order titled “Delivering Most-Favored Nation Prescription Drug Pricing to American Patients” and other administrative policies or actions may impact sales or profitability of branded pharmaceutical products. The extent of any future impacts is uncertain and may vary depending on the timeline for implementation and the extent of any price reductions. …
An excerpt of the text as filed with the SEC, cut for length.
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