CAH vs HSIC: Cardinal Health and Henry Schein compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Cardinal Health is the larger company, worth $58.3B, about 5.8 times Henry Schein.
- Cardinal Health grew revenue faster over the last year (+14.2% vs +6.7%).
- Henry Schein keeps more of each dollar of revenue as operating profit (5.0% vs 1.0%).
- On earnings, Henry Schein is the cheaper stock (26.6x vs 32.9x).
- Henry Schein's price assumes faster free cash flow growth: about 3% a year, against -1% for Cardinal Health (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CAH | HSIC |
|---|---|---|
| Market cap | $58.3B | $10.0B |
| Share price | $237.57 | $84.01 |
| Revenue (last fiscal year) | $254.2B | $13.2B |
| Free cash flow (last fiscal year) | $4.5B | $573M |
| Revenue growth, last year | +14.2% | +6.7% |
| Revenue growth per year, last 5 fiscal years | +8.8% | +1.5% |
| Operating margin | 1.0% | 5.0% |
| Net margin | 0.67% | 3.0% |
| Return on equity | — | 12.8% |
| P/E (trailing) | 32.9x | 26.6x |
| Price / free cash flow | 31.5x | 17.5x |
| EV / EBITDA | 17.4x | 13.1x |
| FCF growth the price implies | -0.79% | 3.3% |
| Dividend yield | 0.82% | — |
| Debt / equity | — | 2.11x |
| Fundamental grade | D | D |
| Superinvestors holding it | 6 | 8 |
| Insider purchases, last 12 months | 2 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Cardinal Health
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $181.3B | $2.8B | -0.33% |
| 2023 | $205.0B | $2.4B | 0.37% |
| 2024 | $226.8B | $3.3B | 0.55% |
| 2025 | $222.6B | $1.9B | 1.0% |
| 2026 | $254.2B | $4.5B | 1.0% |
Henry Schein
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.4B | $631M | 6.9% |
| 2022 | $12.6B | $506M | 5.9% |
| 2023 | $12.3B | $353M | 5.0% |
| 2024 | $12.7B | $700M | 4.9% |
| 2025 | $13.2B | $573M | 5.0% |
Where the revenue comes from
Cardinal Health · by segments, 2026
Pharmaceutical and Specialty Solutions$234.8B92%
GMPD$12.7B5%
Other Operating Segment$6.8B3%
Henry Schein · by segments, 2025
Global Distribution and Value-Added Services$11.1B84%
Global Specialty Products$1.4B11%
Global Technology$675M5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CAH in InvestinglyQuestions
Which is bigger, Cardinal Health or Henry Schein?
Cardinal Health (CAH), at $58.3B against $10.0B.
Is CAH or HSIC cheaper?
By trailing P/E, Henry Schein (26.6x) is cheaper than Cardinal Health (32.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, CAH or HSIC?
Cardinal Health: revenue grew +14.2% over the last year, against +6.7%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.