SEC filings · customer concentration · CAH

Cardinal Health's major customers

CVS Health accounted for 28% of Cardinal Health's revenue in FY 2026, about the same as 30% a year earlier. 10 listed suppliers report Cardinal Health as a customer worth 10% or more of their revenue, led by Gilead Sciences at 29%.

1major customers now
28%of revenue from them
10listed suppliers depending on it
2011–2026years covered
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Major customers of Cardinal Health

Customers that Cardinal Health named in its annual report as 10% or more of revenue. A missing year means the customer was below that line or not named.

CustomerShare of revenueChange vs prior yearHistoryLatest filing
CVS HealthCVS28%from 30%FY 2022: 25%FY 2023: 25%FY 2024: 24%FY 2025: 30%FY 2026: 28%5 yearsFY 2026 · filed 11 Aug 2026

Formerly disclosed

CustomerShare of revenueChange vs prior yearHistoryLatest filing
CVS Caremark25%last FY 2023FY 2019: 26%FY 2020: 26%FY 2021: 26%FY 2022: 25%FY 2023: 25%5 yearsFY 2023 · filed 15 Aug 2023
Optum Rx17%last FY 2024FY 2019: 13%FY 2020: 14%FY 2021: 15%FY 2022: 16%FY 2023: 16%FY 2024: 17%6 yearsFY 2024 · filed 11 Aug 2026

Suppliers that depend on Cardinal Health

Listed companies whose annual report names Cardinal Health as a customer worth 10% or more of their revenue. If Cardinal Health cuts orders or switches supplier, these are the companies that feel it.

SupplierIts revenue from this companyChange vs prior yearHistoryLatest filing
Gilead SciencesGILD29%from 29%FY 2016: 16%FY 2017: 19%FY 2018: 21%FY 2019: 21%FY 2020: 21%FY 2021: 22%FY 2022: 25%FY 2023: 28%FY 2024: 29%FY 2025: 29%10 yearsFY 2025 · filed 24 Feb 2026
Bristol Myers SquibbBMY22%from 22%FY 2019: 17%FY 2020: 19%FY 2021: 20%FY 2022: 21%FY 2023: 23%FY 2024: 22%FY 2025: 22%7 yearsFY 2025 · filed 11 Feb 2026
ADC TherapeuticsADCT22%from 24%FY 2022: 25%FY 2023: 22%FY 2024: 24%FY 2025: 22%4 yearsFY 2025 · filed 10 Mar 2026
ArdelyxARDX21%▲ from 14%FY 2022: 10%FY 2023: 20%FY 2024: 14%FY 2025: 21%4 yearsFY 2025 · filed 19 Feb 2026
Amphastar PharmaceuticalsAMPH19%from 19%FY 2012: 13%FY 2013: 13%FY 2014: 14%FY 2015: 17%FY 2016: 22%FY 2017: 23%FY 2018: 21%FY 2019: 22%FY 2020: 17%FY 2021: 16%FY 2022: 17%FY 2023: 15%FY 2024: 19%FY 2025: 19%14 yearsFY 2025 · filed 26 Feb 2026
AlkermesALKS17%from 19%FY 2018: 13%FY 2020: 21%FY 2021: 20%FY 2022: 24%FY 2023: 20%FY 2024: 19%FY 2025: 17%7 yearsFY 2025 · filed 25 Feb 2026
Bausch Health CompaniesBHC14%from 14%FY 2011: 21%FY 2012: 20%FY 2013: 13%FY 2014: 9%FY 2015: 12%FY 2016: 15%FY 2017: 13%FY 2018: 13%FY 2019: 14%FY 2020: 13%FY 2021: 12%FY 2022: 13%FY 2023: 13%FY 2024: 14%FY 2025: 14%15 yearsFY 2025 · filed 19 Feb 2026
PfizerPFE13%from 14%FY 2018: 8%FY 2019: 9%FY 2020: 10%FY 2021: 5%FY 2022: 4%FY 2023: 10%FY 2024: 14%FY 2025: 13%8 yearsFY 2025 · filed 26 Feb 2026
ModernaMRNA11%newFY 2025: 11%1 yearFY 2025 · filed 20 Feb 2026
Bausch & LombBLCO10%from 10%FY 2024: 10%FY 2025: 10%2 yearsFY 2025 · filed 18 Feb 2026

Formerly disclosed

SupplierIts revenue from this companyChange vs prior yearHistoryLatest filing
Ani PharmaceuticalsANIP23%last FY 2019FY 2019: 23%1 yearFY 2019 · filed 15 Mar 2022
Rigel PharmaceuticalsRIGL13%last FY 2024FY 2022: 19%FY 2023: 25%FY 2024: 13%3 yearsFY 2024 · filed 3 Mar 2026
DexcomDXCM10%last FY 2022FY 2019: 10%FY 2022: 10%2 yearsFY 2022 · filed 9 Feb 2023
Akebia TherapeuticsAKBA10%last FY 2023FY 2021: 11%FY 2023: 10%2 yearsFY 2023 · filed 26 Feb 2026
ViatrisVTRS5%last FY 2023FY 2019: 8%FY 2020: 8%FY 2021: 5%FY 2022: 5%FY 2023: 5%5 yearsFY 2023 · filed 26 Feb 2026

About this data

US-listed companies must disclose revenue from any single customer that reaches 10% of their total (ASC 280). ShadowGraph reads these disclosures from the XBRL data of every 10-K and 20-F we scan, keeps one value per fiscal year (restatements replace earlier values) and links each number to its filing. Companies that describe a customer only as "Customer A" are not listed by name. Figures are as reported; nothing here is investment advice.

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