MEDIUMOutside partyCustomer
43%
five largest customers
“10-K Item 1: 'our five largest customers, including CVS Health, accounted for 43 percent of our fiscal 2026 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.
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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 · 3 disclosed concentrations
HIGH0
MEDIUM3
LOW0
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 partyCustomer
29%
Vizient and Premier GPO members
“10-K Item 1: 'Our two largest GPO relationships in terms of revenue are with Vizient, Inc. and Premier, Inc. ... collectively accounted for 29 percent of our revenue in fiscal 2026'”
MEDIUMOutside partyCustomer
28%
CVS Health largest customer
“10-K Item 1: 'Our largest customer, CVS Health, accounted for 28 percent of our fiscal 2026 revenue.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-18Cardinal Health's disclosed exposures are all customer-side and they nest inside one another. The five largest customers, including CVS Health, accounted for 43 percent of fiscal 2026 revenue. Within that group, CVS Health alone accounted for 28 percent of revenue. Separately, the Vizient and Premier GPO relationships collectively accounted for 29 percent of revenue. Each is a medium-share exposure and each is a dependency in character; the sources do not say how the GPO and top-customer groups overlap, so they should not be added together. The practical meaning is that a distributor operating on thin margins relies on a handful of purchasing relationships for much of its volume. Contract renewals, pricing resets, a change in a GPO's sourcing strategy, or a shift in a large pharmacy customer's own supply arrangements could alter revenue and profitability without any change in end-market demand. Netted together, the CVS Health relationship is the single idiosyncratic item most likely to move the verdict, while the GPO channels add a structural layer of purchasing-power concentration. All of it is clearly disclosed in the 10-K.
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 | 3 | 0 | 3 |
| 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.