Cardinal Health vs Samsung: Revenue, Profit and Business Model
Cardinal Health reported $254.2B of revenue in FY2026 and $1.7B of net income. Samsung reported ~$236.9B of revenue in FY2025 and ~$31.4B of net income.
Latest financial snapshot
Cardinal Health
- Latest revenue
- $254.2B (FY2026)
- Net income
- $1.7B
- Net margin
- 0.7%
- Revenue growth
- +7.7% a year, FY2017–FY2026
Samsung
- Latest revenue
- ~$236.9B (FY2025)
- Net income
- ~$31.4B
- Net margin
- 13.3%
- Revenue growth
- +4.5% a year, FY2021–FY2025
Financial summary
Cardinal Health
Cardinal Health combines very large revenue with thin margins. Fiscal 2026 revenue was $254.2 billion, up 14% from $222.6 billion in fiscal 2025, driven by brand and specialty drug volume from existing customers. GAAP operating earnings were $2.6 billion, GAAP diluted EPS was $7.23, and net earnings attributable to Cardinal Health were about $1.7 billion. Non-GAAP diluted EPS rose 37% to $11.26 ($10.95 excluding the IEEPA tariff refund). Operating cash flow was $5.2 billion and adjusted free cash flow was $5.0 billion. The company repurchased $1.4 billion of stock in fiscal 2026 and the board added $5.0 billion to the buyback authorization in August 2026. Fourth-quarter fiscal 2026 revenue was $63.7 billion, up 6%.
Samsung
Samsung's earnings follow the memory cycle. Revenue fell from ~$215 billion (KRW 302.2 trillion) in 2022 to ~$184 billion (KRW 258.9 trillion) in 2023 during a chip downturn, then recovered to ~$214 billion (KRW 300.9 trillion) in 2024 and ~$237 billion (KRW 333.6 trillion) in 2025, when net income reached about $31.5 billion (KRW 44.3 trillion). In 2026, AI server demand created a memory shortage. Q1 operating profit of ~$40.6 billion (KRW 57.2 trillion) exceeded the full-year 2025 total, and Q2 reached ~$63.5 billion (KRW 89.5 trillion) on ~$122 billion (KRW 171.5 trillion) revenue. Higher memory costs also squeezed Samsung's own devices: the MX and Networks unit lost ~$497 million (KRW 0.7 trillion) in Q2 2026 on ~$23.6 billion (KRW 33.2 trillion) revenue.
Revenue and profit by year
Cardinal Health
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $254.2B | $1.7B | 0.7% | +14.2% | Source |
| FY2025 | $222.6B | $1.6B | 0.7% | -1.9% | Source |
| FY2024 | $226.8B | $852M | 0.4% | +10.7% | Source |
| FY2023 | $205B | $330M | 0.2% | +13.0% | Source |
| FY2022 | $181.3B | -$938M | -0.5% | +11.6% | Source |
| FY2021 | $162.5B | $611M | 0.4% | +6.2% | Source |
| FY2020 | $152.9B | -$3.7B | -2.4% | +5.1% | Source |
| FY2019 | $145.5B | $1.4B | 0.9% | +6.4% | Source |
| FY2018 | $136.8B | $256M | 0.2% | +5.3% | Source |
| FY2017 | $130B | $1.3B | 1.0% | — | Source |
Samsung
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$236.9B | ~$31.4B | 13.3% | +10.9% | Source |
| FY2024 | ~$213.6B | ~$23.9B | 11.2% | +16.2% | Source |
| FY2023 | ~$183.8B | ~$10.3B | 5.6% | -14.3% | Source |
| FY2022 | ~$214.6B | ~$38.9B | 18.1% | +8.1% | Source |
| FY2021 | ~$198.5B | ~$27.9B | 14.0% | — | Source |
Where the revenue comes from
Cardinal Health
- Pharmaceutical Distribution - Branded, Generic, and Specialty~92%
Product sales and fees from distributing branded, generic, and specialty drugs, plus services from specialty practice platforms. Fiscal 2026 segment revenue was $234.8 billion (up 15%) and segment profit was $2.8 billion (up 23%), driven by brand and specialty volume and generics program performance.
- Medical and Surgical Products Manufacturing and Distribution~5%
Sales of Cardinal Health-brand and national-brand medical, surgical, and laboratory products. Fiscal 2026 GMPD revenue was $12.7 billion and segment profit was $258 million, including a one-time $100 million IEEPA tariff refund benefit. Fiscal 2027 guidance calls for $200-$220 million of segment profit.
- Nuclear Pharmacy, at-Home Solutions, and Logistics~3%
Nuclear and Precision Health Solutions (radiopharmaceuticals), at-Home Solutions (direct-to-patient supplies), and OptiFreight Logistics. Together they generated $6.8 billion of fiscal 2026 revenue (up 26%) and $707 million of segment profit (up 37%), the highest margins in the company.
Samsung
- Memory semiconductors
- Foundry and system LSI
- Galaxy smartphones and mobile devices
- Display panels
- TVs and appliances
- Network equipment
- Harman automotive and audio
Business model and strategy
Cardinal Health
How it makes money
The business model is large, high-volume logistics divided into two segments: Pharmaceutical and Medical. In the Pharma segment, they buy billions of dollars of drugs from manufacturers (like Pfizer) and distribute them daily to tens of thousands of pharmacies and hospitals, taking a tiny markup.
Growth strategy
Cardinal Health's growth plan rests on three levers. First, specialty pharmaceuticals and physician practice platforms: it bought a 71% stake in GI Alliance for about $2.8 billion (announced November 2024) and funded The Specialty Alliance's roughly $1.9 billion acquisition of urology MSO Solaris Health (completed November 2025).
Competitive advantage
Cardinal Health's advantage is physical scale and regulatory standing. Moving regulated, temperature-sensitive drugs and biologics across the country overnight takes a network of specialized distribution centers and security procedures that cost billions of dollars and take decades to build. The barrier to entry is high, so drug distribution is concentrated among a few large companies.
Samsung
How it makes money
Samsung earns money from two groups of businesses. Device Solutions (DS) makes and sells memory (DRAM, HBM, NAND), System LSI chips such as Exynos processors and ISOCELL image sensors, and contract foundry manufacturing.
Growth strategy
Samsung's growth plan centers on AI memory: ramping HBM4 for Nvidia and AMD accelerators, developing HBM4E, and adding DRAM capacity at Pyeongtaek. In foundry it is pursuing 2nm gate-all-around production and building its Taylor, Texas fab to win customers from TSMC. On the device side it relies on Galaxy AI features, foldables and premium TVs to defend share against Apple and Chinese brands.
Competitive advantage
Samsung's edge is manufacturing scale and breadth. It is the largest memory producer and one of only three major DRAM makers, alongside SK hynix and Micron. That lets it capture pricing upswings like the 2026 AI-driven shortage.
Questions about Cardinal Health vs Samsung
Which company has higher revenue — Cardinal Health, Inc. or Samsung Electronics Co., Ltd.?
Cardinal Health, Inc. reported $254.2B (FY2026), while Samsung Electronics Co., Ltd. reported ~$236.9B (FY2025). By last reported revenue, Cardinal Health, Inc. is the larger business, with Samsung Electronics Co., Ltd. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Cardinal Health, Inc. vs Samsung Electronics Co., Ltd.?
Cardinal Health, Inc.'s market capitalisation stands at $56.0B, while Samsung Electronics Co., Ltd.'s is $1.33T. Samsung Electronics Co., Ltd. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Cardinal Health, Inc..
Which is more financially efficient — Cardinal Health, Inc. or Samsung Electronics Co., Ltd.?
Cardinal Health, Inc. generates $3.98M / employee in revenue per employee, while Samsung Electronics Co., Ltd. generates $914k / employee. Cardinal Health, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Cardinal Health, Inc. and Samsung Electronics Co., Ltd. make money?
Cardinal Health, Inc. and Samsung Electronics Co., Ltd. generate revenue in fundamentally different ways. Cardinal Health, Inc.: The business model is large, high-volume logistics divided into two segments: Pharmaceutical and Medical. Samsung Electronics Co., Ltd.: Samsung earns money from two groups of businesses.
Which company is valued higher relative to revenue — Cardinal Health, Inc. or Samsung Electronics Co., Ltd.?
On a price-to-sales (P/S) basis, Cardinal Health, Inc. trades at 0.2x P/S and Samsung Electronics Co., Ltd. at 5.6x P/S. Samsung Electronics Co., Ltd. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Cardinal Health, Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Cardinal Health, Inc. bigger than Samsung Electronics Co., Ltd.?
By last reported revenue, Cardinal Health, Inc. ($254.2B (FY2026)) is the larger company compared to Samsung Electronics Co., Ltd. (~$236.9B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Cardinal Health vs Samsung overview