MEDIUMOutside partyCustomer
43%
five largest customers
“10-K Item 1: 'In the aggregate, our five largest customers, including CVS Health, accounted for 43 percent of our fiscal 2025 revenue.'”
CAH · Concentration risk · 10-K extracted
Cardinal Health (CAH) concentration risks
Updated
The most significant concentration Cardinal Health discloses is five largest customers at 43%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Cardinal Health’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 5 disclosed concentrations
HIGH0
MEDIUM4
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partySupplier
37%
five largest suppliers
“10-K Item 1: 'During fiscal 2025, revenue resulting from sales of products obtained from our five largest suppliers accounted for an aggregate of 37 percent of our revenue and our largest supplier’s products accounted for approximately 9 percent of revenue.'”
MEDIUMOutside partyCustomer
30%
CVS Health
“10-K Item 1: 'Our largest customer, CVS Health, accounted for 30 percent of our fiscal 2025 revenue.'”
MEDIUMOutside partyCounterparty
27%
Vizient and Premier GPOs
“10-K Item 1: 'Sales to members of these two GPOs, under numerous contracts across our businesses, collectively accounted for 27 percent of our revenue in fiscal 2025.'”
LOWOutside partySupplier
9%
largest supplier
“10-K Item 1: 'During fiscal 2025, revenue resulting from sales of products obtained from our five largest suppliers accounted for an aggregate of 37 percent of our revenue and our largest supplier’s products accounted for approximately 9 percent of revenue.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-30Cardinal Health discloses concentration on both the customer and supplier sides, all of it dependency-type and mostly clustered in the medium-share band. On the customer side, the five largest customers, including CVS Health, accounted for 43% of fiscal 2025 revenue in aggregate, and CVS Health alone — the company's largest customer — accounted for 30% of fiscal 2025 revenue, meaning one customer represents most of that five-customer total. Sales tied to members of the Vizient and Premier group purchasing organizations added a further 27% of revenue across numerous contracts. On the supply side, the five largest suppliers accounted for an aggregate 37% of revenue, though the largest supplier's products alone were only 9% of revenue — a low-share figure suggesting supplier exposure is more distributed than customer exposure. Netting these out, Cardinal Health's more consequential concentration sits with CVS Health and the two large GPOs on the revenue side, since those figures are larger and more counterparty-specific than the supplier book, where even the top supplier represents a comparatively modest share.
For the engine’s reasoning on CAH’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Medical Distribution
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| COR | Cencora, Inc. | 1 | 1 | 1 | 3 |
| CAH● | Cardinal Health, Inc. | 0 | 4 | 1 | 5 |
| HSIC | Henry Schein, Inc. | 0 | 0 | 0 | 0 |
| MCK | McKesson Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.