Cardinal Health, Inc. reported a revenue of $222.6 billion for the fiscal year ending June 30, 2025, a decrease from $226.8 billion in the previous year. The company's operating earnings increased significantly to $2.3 billion, up from $1.2 billion in fiscal 2024, reflecting a growth rate of 83%. Net earnings attributable to Cardinal Health rose to $1.6 billion, or $6.45 per diluted share, compared to $852 million, or $3.45 per diluted share, in the prior year. The effective tax rate for fiscal 2025 was 25.3%, a decrease from 28.9% in fiscal 2024, influenced by non-deductible share-based compensation costs and transaction expenses.
The company undertook significant strategic developments during the fiscal year, including multiple acquisitions totaling approximately $5.3 billion. Notable acquisitions included Advanced Diabetes Supply Group (ADS) for $1.1 billion, GI Alliance (GIA) for $2.8 billion, and Integrated Oncology Network (ION) for $1.1 billion. These acquisitions are expected to enhance Cardinal Health's capabilities in specialty healthcare services and expand its market presence. The company also repurchased $765 million in shares and paid $494 million in dividends, reflecting a commitment to returning value to shareholders.
Operationally, Cardinal Health's customer base remains concentrated, with CVS Health accounting for 30% of total revenue in fiscal 2025. The company reported a total employee headcount of approximately 57,700, with 35,000 working in distribution centers and manufacturing facilities. The company’s cash and equivalents decreased to $3.9 billion from $5.1 billion in the previous year, while net cash provided by operating activities was $2.4 billion, impacted by payments related to opioid litigation totaling $798 million.
Looking ahead, Cardinal Health anticipates continued growth driven by its recent acquisitions and strategic investments. The company expects capital expenditures to increase to approximately $600 million in fiscal 2026, primarily focused on enhancing manufacturing and distribution infrastructure. Additionally, Cardinal Health is evaluating the impact of new tax legislation, including the One Big Beautiful Bill Act, which may affect its future tax obligations and financial performance. The company remains committed to navigating the evolving healthcare landscape while maintaining operational efficiency and profitability.
About CARDINAL HEALTH INC
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