Filing Flows › Cardinal Health (CAH) › Q3 FY26 › vs Q2 FY26
Cardinal Health (CAH) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Cardinal Health's revenue fell $4.7B (-7%) from $65.6B in Q2 FY26 to $60.9B in Q3 FY26. Gross margin 4.1% against 3.7% (+0.4 pts).
Cardinal Health, Q3 FY26: revenue $60.9B (+11% year over year), operating margin 0.8%, net earnings $380M, operating cash flow $1.8B. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 4.1% | 3.7% | +0.4 pts |
| Operating margin | 0.8% | 1.1% | -0.2 pts |
| Net margin | 0.6% | 0.7% | -0.1 pts |
| Free cash flow margin | 2.8% | 0.8% | +1.9 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $60.9B | $65.6B | −$4.7B | -7% |
| Gross profit | $2.5B | $2.4B | $101M | +4% |
| Cost of revenue | $58.4B | $63.2B | −$4.8B | -8% |
| Operating profit | $509M | $707M | −$198M | -28% |
| Operating expenses | $2.0B | $1.7B | $299M | +18% |
| Pre-tax earnings | $392M | $630M | −$238M | -38% |
| SG&A | $1.5B | $1.5B | $38.0M | +3% |
| Other operating costs | $447M | $186M | $261M | +140% |
| Net earnings | $380M | $471M | −$91.0M | -19% |
| Income tax | $12.0M | $159M | −$147M | -92% |
| Depreciation & amortization | $248M | $234M | $14.0M | +6% |
| Share-based compensation | $129M | $87.0M | $42.0M | +48% |
| Working capital & other | $1.1B | −$106M | $1.2B | — |
| Operating cash flow | $1.8B | $686M | $1.1B | +166% |
| Free cash flow (OCF − capex) | $1.7B | $555M | $1.1B | +202% |
| Capital expenditures | $146M | $131M | $15.0M | +11% |
Questions
How much did Cardinal Health's revenue grow quarter over quarter in Q3 FY26?
Cardinal Health's revenue fell $4.7B (-7%) from $65.6B in Q2 FY26 to $60.9B in Q3 FY26. Gross margin 4.1% against 3.7% (+0.4 pts).