Risk Sleuth
CAH · 10-K filed 11 Aug 2026 · year to 30 Jun 2026

Cardinal Health

40 named things its latest annual report says its results depend on, each in the company's own words. 28 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

CVS Health

earns from · 28 percent of our fiscal 2026 revenuenamed as a risk
CVS Health accounted for 28 percent of our fiscal 2026 revenue and 22 percent of our gross trade receivable balance at June 30, 2026.Risk factors (Item 1A)

Also named by AMGN

Vizient, Inc.

earns from · 29 percent of our revenue in fiscal 2026named as a risk
Our two largest GPO relationships in terms of revenue are with Vizient, Inc. and Premier, Inc.Business (Item 1)

Premier, Inc.

earns from · 29 percent of our revenue in fiscal 2026named as a risk
Our two largest GPO relationships in terms of revenue are with Vizient, Inc. and Premier, Inc.Business (Item 1)

Suppliers

Largest supplier (unnamed)

depends on · approximately 13 percent of revenuenamed as a risk
During fiscal 2026, revenue resulting from sales of products obtained from our five largest suppliers accounted for an aggregate of 39 percent of our revenue and our largest supplier’s products accounted for approximately 13 percent of revenue.Business (Item 1)

Also named by ARW, FND, MCK, ORLY, SMCI

Partners and platforms

Red Oak Sourcing, LLC

depends on
Red Oak Sourcing, LLC ("Red Oak Sourcing"), a U.S.-based generic pharmaceutical sourcing venture with CVS Health, negotiates generic pharmaceutical supply contracts on behalf of both companies.Business (Item 1)

Also named by CVS

Other companies

Integrated Oncology Network (ION)

$184 millionnamed as a risk
In fiscal 2026, due to certain reductions in our long-term financial plan assumptions, we recorded a pre-tax goodwill impairment charge of $184 million to our Navista & ION reporting unit.Risk factors (Item 1A)

Solaris Health

approximately $1.9 billion
In November 2025, we, through The Specialty Alliance, completed the acquisition of Solaris Health, a urology MSO, for a purchase price of approximately $1.9 billion in cash, subject to certain adjustments.Business (Item 1)

GI Alliance

approximately $2.8 billion
In January 2025, we completed the acquisition of 73 percent ownership interest in GIA, a gastroenterology management services organization now part of The Specialty Alliance, for a purchase price of approximately $2.8 billion in cash.Business (Item 1)

Advanced Diabetes Supply Group

approximately $1.0 billion
In April 2025, we completed the acquisition of ADS, a diabetes medical supplies provider to patients in the home, for a purchase price of approximately $1.0 billion in cash.Business (Item 1)

Opioid litigation

named as a risk
We are also being sued by private plaintiffs, such as unions, other health and welfare funds, other healthcare providers, and individuals alleging personal injury for the same activities, and could be named as a defendant in additional lawsuits.Risk factors (Item 1A)

Also named by KR

Cordis OptEase and TrapEase IVC filters

named as a risk
For example, since July 2021, we have entered into settlement agreements to settle the vast majority of product liability claims alleging personal injuries associated with the use of Cordis OptEase and TrapEase IVC filter products.Risk factors (Item 1A)

Competitors

McKesson Corporation

competes with
In the Pharma segment, we compete with wholesale distributors with national reach, including McKesson Corporation and Cencora, Inc., regional wholesale distributors, self-warehousing chains, specialty distributors, third-party logistics companies, and companies that provide specialty pharmaceutical services and managed services to specialty physicians, among others.Business (Item 1)

Also named by ABBV, AMGN, COR, GILD, HALO, HROW, HSIC, LLY and 1 more

Cencora, Inc.

competes with
In the Pharma segment, we compete with wholesale distributors with national reach, including McKesson Corporation and Cencora, Inc., regional wholesale distributors, self-warehousing chains, specialty distributors, third-party logistics companies, and companies that provide specialty pharmaceutical services and managed services to specialty physicians, among others.Business (Item 1)

Also named by ABBV, AMGN, GILD, HROW, LLY, MCK

Medline Industries, Inc.

competes with
In the GMPD segment, we compete with many diversified healthcare companies and national medical product distributors, such as Medline Industries, Inc. and Owens & Minor, Inc., as well as regional medical product distributors and companies that are focused on specific product categories.Business (Item 1)

Also named by HSIC

Places

China

depends onnamed as a risk
For example, in April 2024, the FDA issued a warning letter to Cardinal Health asserting that plastic syringes sourced from a third party manufacturer in China did not have appropriate 510(k) clearance and restating some of the observations from a December 2023 inspection.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Oregon

subject tonamed as a risk
For example, proposed legislation in the Federal legislature and certain states, and adopted legislation in the state of Oregon, would limit, restrict, or prohibit corporate entities from owning or managing physician practices, directly, or indirectly, through a managed services organization.Risk factors (Item 1A)

Also named by BBSI, IOT

Hazards

Iran conflict

exposed to its pricenamed as a risk
For example, the recent conflict in Iran has resulted in increased fuel prices which may lead to increased costs for products that we source, manufacture, or distribute, and may also cause supply chain or manufacturing disruptions, impacting our ability to meet demand.Risk factors (Item 1A)

Also named by DELL, DRVN, MOD, WSM

Commodities and inputs

Oil-based resins

exposed to its price · $457 millionnamed as a risk
We are directly exposed to market price changes for certain commodities, including oil-based resins, nitrile, cotton, diesel fuel, and latex.Market risk (Item 7A)

Diesel fuel

exposed to its pricenamed as a risk
Prices of oil and gas also affect our distribution and transportation costs.Risk factors (Item 1A)

Also named by ADM, BLDR, BTU, CHD, CHRW, COST, CP, CSX and 43 more

Cotton

exposed to its pricenamed as a risk
Our manufacturing businesses use oil-based resins, pulp, cotton, latex, and other commodities as raw materials in many products.Risk factors (Item 1A)

Also named by CROX, FPI, LULU, NKE, PVH, RL, SNEX, TSCO and 2 more

Ethylene oxide (EtO)

depends onnamed as a risk
Additionally, we have been named as a defendant in several lawsuits alleging personal injury as a result of EtO emissions.Risk factors (Item 1A)

Also named by BDX, BSX, SOLV, STE

Nitrile

exposed to its pricenamed as a risk
We are directly exposed to market price changes for certain commodities, including oil-based resins, nitrile, cotton, diesel fuel, and latex.Market risk (Item 7A)

Latex

exposed to its pricenamed as a risk
Our manufacturing businesses use oil-based resins, pulp, cotton, latex, and other commodities as raw materials in many products.Risk factors (Item 1A)

Regulators

Internal Revenue Service (IRS)

subject to · approximately $1.4 billion in additional tax liability (plus interest)named as a risk
Under one of these NOPAs, the IRS is challenging the tax deductibility of self-insurance pre-tax losses and related carryback claims taken under the Coronavirus Aid, Relief and Economic Security Act, which could result in approximately $400 million in additional tax expense (plus interest) and approximately $1.4 billion in additional tax liability (plus interest).Risk factors (Item 1A)

Also named by AAPL, ABNB, ADI, AJG, AMGN, BBSI, BMNR, BRO and 39 more

U.S. Food and Drug Administration (FDA)

subject tonamed as a risk
For example, in April 2024, the FDA issued a warning letter to Cardinal Health asserting that plastic syringes sourced from a third party manufacturer in China did not have appropriate 510(k) clearance and restating some of the observations from a December 2023 inspection.Risk factors (Item 1A)

Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more

U.S. Department of Justice

subject tonamed as a risk
For example, in November 2023, we received a Civil Investigative Demand ("CID") from the Department of Justice focused on potential violations of the Anti-Kickback Statute and False Claims Act in connection with a 2022 transaction in which we purchased a group purchasing organization and a minority ownership interest in a rheumatology managed services organization.Risk factors (Item 1A)

Also named by AAPL, ACN, AMAT, ASO, BEN, BSX, CDNA, CDW and 21 more

U.S. Drug Enforcement Administration (DEA)

subject tonamed as a risk
Wholesale distributors of controlled substances must hold valid DEA registrations and state-level licenses, meet various security and operating standards including effective anti-diversion programs, and comply with the CSA.Business (Item 1)

Also named by COR, DGX, DHR, HALO, HSIC, IQV, LH, MCK and 7 more

U.S. Nuclear Regulatory Commission (NRC)

subject to
Our nuclear pharmacies and radiopharmaceutical manufacturing facilities (including for Xofigo®) require licenses or permits and must abide by regulations issued by the NRC, applicable state boards of pharmacy and the radiologic health agency or department of health of each state in which we operate, including pharmacy sterile compounding standards and practices.Business (Item 1)

Also named by AEE, AEP, BRK/B, BWXT, CDRE, CEG, CW, D and 20 more

Laws and programs

IEEPA tariffs

subject to · approximately $200 millionnamed as a risk
As of the end of fiscal 2026, we have paid approximately $200 million in IEEPA tariffs, primarily related to products that we source, manufacture, or distribute in our GMPD segment.Risk factors (Item 1A)

Also named by FCNCA, FSLR, MCHP, RL, SOLV, TGT, VFC

One Big Beautiful Bill Act

subject tonamed as a risk
And any reduction in Medicare and Medicaid programs as a result of The One Big Beautiful Bill Act, could result in a change in utilization of the healthcare system that may adversely affect demand for our products and services and could have an effect on our results of operations and financial condition.Business (Item 1)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

Medicare

subject tonamed as a risk
Failure to comply with applicable eligibility requirements, standards, and regulations could result in civil or criminal sanctions, including the loss of our ability to participate in Medicare, Medicaid, and other federal and state healthcare programs.Business (Item 1)

Also named by ABT, ARWR, AXGN, BAX, BDX, BMY, BSX, CDNA and 48 more

Inflation Reduction Act

subject tonamed as a risk
The Inflation Reduction Act has and will continue to adversely impact our revenue by capping prices for certain drugs.Risk factors (Item 1A)

Also named by AEE, AMGN, ARWR, BIIB, BKNG, BMY, CI, CNC and 26 more

340B Drug Pricing Program

subject tonamed as a risk
These practices are the subject of ongoing litigation; however, if manufacturers continue this practice and if courts uphold this practice, our customers may be adversely impacted, which could adversely impact our business.Risk factors (Item 1A)

Also named by ABBV, BAX, BIIB, BMY, COR, CVS, EXEL, GILD and 13 more

Anti-Kickback Statute

subject tonamed as a risk
Our MSO businesses involve numerous risks and uncertainties that are different from the risks and uncertainties facing our legacy businesses, including risks arising under or related to fraud, waste, and abuse laws, including the federal Anti-Kickback Statute, the federal self-referral law commonly known as the Stark Law and the federal False Claims Act.Risk factors (Item 1A)

Also named by BSX, HCA, LH, ORCL, PROF, ZBH

Most-Favored Nation Prescription Drug Pricing Executive Order

subject tonamed as a risk
The Executive Order titled "Delivering Most-Favored Nation Prescription Drug Pricing to American Patients," may impact the sales or profitability of branded pharmaceutical products.Business (Item 1)

Also named by ARE, BMY, IQV

Section 122 of the Trade Act of 1974 tariffs

subject tonamed as a risk
Following the Supreme Court IEEPA ruling, the U.S. government replaced IEEPA tariffs with tariffs imposed under Section 122 of the Trade Act of 1974.Risk factors (Item 1A)

Also named by FSLR, TPR

National Opioid Settlement Agreement (NOSA)

subject tonamed as a risk
A monitor will oversee compliance with these provisions for five years from entry into the NOSA, until January 2028.Business (Item 1)

HHS Office of Inspector General Corporate Integrity Agreement

subject tonamed as a risk
In fiscal 2022, our Specialty Pharmaceutical Distribution business entered into a five-year Corporate Integrity Agreement with the Office of Inspector General of the Department of Health and Human Services in connection with an investigation into discounts and rebates offered or provided to certain Specialty customers.Business (Item 1)

EU Medical Device Regulation (MDR)

subject to
Under the MDR, medical devices marketed in the EU require significant pre-market and post-market requirements.Business (Item 1)

Also named by ABBV, BAX, BDX, BSX, COO, DXCM, EW, GEHC and 4 more

Drug Supply Chain Security Act (DSCSA)

subject to
The DSCSA requires standardized, unit-level traceability of pharmaceutical products and requires all trading partners to cooperate in a secure, electronic, interoperable prescription drug traceability system.Business (Item 1)

Also named by COR, EXEL, HSIC, MCK