Cardinal Health Inc (CAH)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 8,168,000 | 7,775,000 | 7,535,000 | 7,440,000 | 7,281,000 | 7,299,000 | 7,201,000 | 7,018,000 | 6,889,000 | 6,667,000 | 6,564,000 | 6,517,000 | 6,545,000 | 6,415,000 | 6,545,000 | 6,705,000 | 6,778,000 | 6,893,000 | 6,966,000 | 6,904,000 |
| Revenue (ttm) | US$ in thousands | 222,578,000 | 222,286,000 | 222,319,000 | 224,500,000 | 226,986,000 | 220,572,000 | 216,148,000 | 210,172,000 | 205,012,000 | 198,662,000 | 193,011,000 | 186,999,000 | 181,364,000 | 176,847,000 | 171,286,000 | 167,370,000 | 162,467,000 | 156,570,000 | 156,452,000 | 154,646,000 |
| Gross profit margin | 3.67% | 3.50% | 3.39% | 3.31% | 3.21% | 3.31% | 3.33% | 3.34% | 3.36% | 3.36% | 3.40% | 3.49% | 3.61% | 3.63% | 3.82% | 4.01% | 4.17% | 4.40% | 4.45% | 4.46% |
June 30, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $8,168,000K ÷ $222,578,000K
= 3.67%
The gross profit margin of Cardinal Health Inc. exhibits a declining trend from the fiscal year ending September 30, 2020, through the middle of 2023. Initially, the margin remained relatively stable around 4.45%, with minimal fluctuations, declining slightly from 4.46% in September 2020 to 4.01% in September 2021. This period demonstrates a gradual decrease in gross profit efficiency, correlating with ongoing pressures in product margins or cost management challenges.
From late 2021 onwards, the gross profit margin continued its downward trajectory, reaching a low of approximately 3.33% as of December 2023. Throughout this period, the margin stabilized briefly around 3.36% to 3.49%, indicating persistent margin compression. The consistent decline over these years suggests sustained challenges in maintaining previous profitability levels, potentially driven by competitive dynamics, pricing pressures, or increased costs.
Starting from the first quarter of 2024, there is a noticeable turnaround, with the margin increasing from 3.31% to 3.39% by the end of 2024. This upward movement indicates a positive shift, possibly due to strategic adjustments, better cost control, or improved pricing strategies. The trend continues into 2025, with the margin further expanding to 3.50% in March 2025 and reaching 3.67% by June 2025.
Overall, while the gross profit margin experienced significant compression from 2020 through 2023, recent data suggests a reversal of this trend, with margins gradually recovering. This pattern implies a period of margin pressure possibly due to market conditions or internal challenges, followed by a phase of strategic improvement or market stabilization leading to margin expansion in the most recent periods analyzed.
Peer comparison
Jun 30, 2025