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Cardinal Health vs McKesson: revenue, profit, margins and growth compared

Cardinal Health brought in $254.2B of revenue in fiscal 2026, McKesson $403.4B in fiscal 2026. Revenue changed by +14.2% at Cardinal Health and +12.4% at McKesson on the year before, so Cardinal Health grew faster. Cardinal Health kept 0.7% of its revenue as net profit, McKesson 1.2%. Free cash flow was $4.5B at Cardinal Health and $5.7B at McKesson.

Side by side, latest fiscal year

CAHMCK
Fiscal year endedFY2026 (June 30, 2026)FY2026 (March 31, 2026)
Revenue$254.2B$403.4B
Revenue growth+14.2%+12.4%
Net income$1.7B$4.8B
Net margin0.7%1.2%
Free cash flow$4.5B$5.7B
Free cash flow margin1.8%1.4%
Earnings per share (diluted)$7.23$38.38
Cash$4.9B$4B
Debt$8.9B$6.5B
Price to earnings30.522.6
Market value$51.2B$101B
Dividend yield0.93%0.37%
Rank by revenue in sector#5 of 523 · Health care#2 of 523 · Health care

Over the years

Revenue
CAH FY2019: $145.5BCAH FY2020: $152.9BCAH FY2021: $162.5BCAH FY2022: $181.3BCAH FY2023: $205BCAH FY2024: $226.8BCAH FY2025: $222.6BCAH FY2026: $254.2BMCK FY2019: $214.3BMCK FY2020: $231.1BMCK FY2021: $238.2BMCK FY2022: $264BMCK FY2023: $276.7BMCK FY2024: $309BMCK FY2025: $359.1BMCK FY2026: $403.4BFY19FY20FY21FY22FY23FY24FY25FY26
CAH $254.2BMCK $403.4B
Net income
CAH FY2019: $1.4BCAH FY2020: -$3.7BCAH FY2021: $611MCAH FY2022: -$938MCAH FY2023: $330MCAH FY2024: $852MCAH FY2025: $1.6BCAH FY2026: $1.7BMCK FY2019: $34MMCK FY2020: $900MMCK FY2021: -$4.5BMCK FY2022: $1.1BMCK FY2023: $3.6BMCK FY2024: $3BMCK FY2025: $3.3BMCK FY2026: $4.8BFY19FY20FY21FY22FY23FY24FY25FY26
CAH $1.7BMCK $4.8B
Net margin
CAH FY2019: 0.9%CAH FY2020: -2.4%CAH FY2021: 0.4%CAH FY2022: -0.5%CAH FY2023: 0.2%CAH FY2024: 0.4%CAH FY2025: 0.7%CAH FY2026: 0.7%MCK FY2019: 0.0%MCK FY2020: 0.4%MCK FY2021: -1.9%MCK FY2022: 0.4%MCK FY2023: 1.3%MCK FY2024: 1.0%MCK FY2025: 0.9%MCK FY2026: 1.2%FY19FY20FY21FY22FY23FY24FY25FY26
CAH 0.7%MCK 1.2%
Revenue growth
CAH FY2020: +5.1%CAH FY2021: +6.2%CAH FY2022: +11.6%CAH FY2023: +13.0%CAH FY2024: +10.7%CAH FY2025: -1.9%CAH FY2026: +14.2%MCK FY2020: +7.8%MCK FY2021: +3.1%MCK FY2022: +10.8%MCK FY2023: +4.8%MCK FY2024: +11.7%MCK FY2025: +16.2%MCK FY2026: +12.4%FY20FY21FY22FY23FY24FY25FY26
CAH +14.2%MCK +12.4%
Free cash flow
CAH FY2019: $2.4BCAH FY2020: $1.6BCAH FY2021: $2BCAH FY2022: $2.8BCAH FY2023: $2.4BCAH FY2024: $3.3BCAH FY2025: $1.9BCAH FY2026: $4.5BMCK FY2019: $3.6BMCK FY2020: $4BMCK FY2021: $4.1BMCK FY2022: $4BMCK FY2023: $4.8BMCK FY2024: $3.9BMCK FY2025: $5.5BMCK FY2026: $5.7BFY19FY20FY21FY22FY23FY24FY25FY26
CAH $4.5BMCK $5.7B

Fiscal years as each company reports them; the two may end in different months.

Questions about Cardinal Health and McKesson

Which is bigger by revenue, Cardinal Health or McKesson?

McKesson is bigger by revenue: $403.4B in fiscal 2026, against $254.2B for Cardinal Health in fiscal 2026.

Which keeps more of its revenue as profit, Cardinal Health or McKesson?

Cardinal Health had a net margin of 0.7% in fiscal 2026; McKesson had 1.2% in fiscal 2026.

Which grew revenue faster, Cardinal Health or McKesson?

In their latest fiscal years revenue changed by +14.2% at Cardinal Health and +12.4% at McKesson.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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