Cardinal Health Inc (CAH)
Quick ratio
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 3,874,000 | 3,326,000 | 3,810,000 | 2,867,000 | 5,133,000 | 3,718,000 | 4,591,000 | 3,854,000 | 4,076,000 | 3,990,000 | 3,654,000 | 3,492,000 | 4,717,000 | 2,356,000 | 3,161,000 | 2,463,000 | 3,407,000 | 3,499,000 | 3,737,000 | 2,746,000 |
| Short-term investments | US$ in thousands | — | — | — | — | 200,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 13,242,000 | 12,666,000 | 12,369,000 | 11,781,000 | 12,084,000 | 11,566,000 | 11,788,000 | 11,265,000 | 11,108,000 | 10,992,000 | 11,421,000 | 11,039,000 | 10,561,000 | 10,250,000 | 9,406,000 | 9,305,000 | 9,103,000 | 8,727,000 | 8,728,000 | 8,637,000 |
| Total current liabilities | US$ in thousands | 38,897,000 | 36,662,000 | 35,223,000 | 34,678,000 | 35,640,000 | 36,306,000 | 38,286,000 | 35,065,000 | 33,740,000 | 32,503,000 | 33,212,000 | 31,559,000 | 30,550,000 | 28,715,000 | 27,729,000 | 26,499,000 | 27,624,000 | 25,323,000 | 25,750,000 | 24,016,000 |
| Quick ratio | 0.44 | 0.44 | 0.46 | 0.42 | 0.49 | 0.42 | 0.43 | 0.43 | 0.45 | 0.46 | 0.45 | 0.46 | 0.50 | 0.44 | 0.45 | 0.44 | 0.45 | 0.48 | 0.48 | 0.47 |
June 30, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,874,000K
+ $—K
+ $13,242,000K)
÷ $38,897,000K
= 0.44
The quick ratio of Cardinal Health Inc. has demonstrated relatively stable levels over the period from September 2020 to June 2025. The ratio has generally hovered around the low to mid-0.40s, indicating a consistent but modest ability to meet short-term obligations with its most liquid assets excluding inventory.
Specifically, the ratio was approximately 0.47 at September 30, 2020, and showed minimal fluctuations through December 2021, maintaining a narrow range between 0.44 and 0.48. This stability persisted into early 2022, with the ratio slightly rising to 0.50 as of June 2022, indicating a marginal improvement in liquidity position during that period.
Subsequent quarters saw slight declines, with the ratio generally fluctuating around 0.43 to 0.46 through the remainder of 2022 and into early 2023. Notably, the ratio reached approximately 0.49 at June 2024, reflecting a temporary uptick in liquidity levels, but then declined again to approximately 0.42 by September 2024.
Across the more recent periods, the ratio has consistently remained below 0.50, suggesting that the company's liquid assets are less than half of its current liabilities, which is typical for firms with high accounts receivable or inventory levels that are not included in the quick ratio. The slight fluctuations over the years denote a relatively steady liquidity position, with no significant deterioration or improvement observed.
Overall, the data indicates that Cardinal Health Inc. has maintained a cautious liquidity posture, with a quick ratio consistently below 0.50—implying a reliance on other sources of liquidity or longer-term assets to support its short-term obligations. The stability of this ratio over time suggests effective liquidity management, although the low ratio may warrant scrutiny regarding the company's ability to meet unexpected short-term liabilities solely through its most liquid assets.
Peer comparison
Jun 30, 2025