Cardinal Health, Inc. (CAH)

Cardinal Health executes steadily within the wholesale triopoly, expanding operating margins gradually from FY2026 through FY2027 and FY2028 toward terminal targets by FY2031. Revenue advances from reported FY2026 baseline through FY2027 and FY2028 consensus paths, while diluted EPS expands above reported historical levels through forward expectations, supported by ongoing share repurchases. This yields the composite Fair value of $244.05.

• Revenue growth steadily expands across FY2027 and FY2028
• Operating margin expands progressively across FY2027 and FY2028 toward long-term targets by FY2031
• Reinvestment rate moderates from initial forecast years into steady state
• Effective tax rate remains normalized across intermediate and terminal forecast years
• Cost of capital reflects moderate equity risk premium and baseline discount rates