Cardinal Health reported QQ1 2025 revenue of $52.28 billion, a year-over-year decline of 4.34% and a quarter-over-quarter drop of 12.45%. The quarter featured thin gross margins (approximately 3.64%) with operating income of $568 million and net income of $416 million, yielding an EPS of $1.71 (diluted $1.70). EBITDA stood at $755 million, signaling earnings before non-cash and financing effects remained positive, but profitability remains pressured by a lean margin profile in a highly competitive distribution landscape.
The company generated negative free cash flow of about $1.737 billion and an operating cash flow of approximately $-1.647 billion, driven primarily by a sizable working capital swing (notably large payables outflow and inventory and receivables movements). Cash and equivalents totaled roughly $2.867 billion at period end, while total assets were $43.06 billion against liabilities of $46.34 billion, yielding negative reported equity (~$3.28 billion) and a leveraged balance sheet by traditional equity-based metrics. Liquidity is tight (current ratio ~0.95; quick ratio ~0.50), underscoring balance sheet fragility amid ongoing macro/operational headwinds.
Management commentary in this dataset is not provided, so the analysis relies on disclosed financials and typical sector dynamics. Investors should monitor working capital normalization, continued cost containment, and any strategic actions to restore cash generation and balance sheet stability.