Direct Answer
Cardinal Health reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Pharmaceutical and Specialty Solutions is the largest, with $205 billion of revenue (92% of the total), followed by GMPD at $12.6 billion (6%). 99% of revenue came from the United States.
How Does Cardinal Health Make Money?
Pharmaceutical and Specialty Solutions supplies 92% of revenue, so Cardinal Health's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, All Other grew fastest (+19.3%) and Pharmaceutical and Specialty Solutions slowest (-2.6%), so the revenue mix tilts toward All Other while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Pharmaceutical and Specialty Solutions | $205 billion | $210 billion | 91.9% | -2.6% |
| GMPD | $12.6 billion | $12.4 billion | 5.7% | 2.1% |
| All Other | $5.4 billion | $4.5 billion | 2.4% | 19.3% |
Which Cardinal Health Segments Earn the Most?
| Segment | FY2025 segment operating income | Segment margin |
|---|---|---|
| Pharmaceutical and Specialty Solutions | $2.3 billion | 1.1% |
| GMPD | $135 million | 1.1% |
| All Other | $516 million | 9.6% |
Segment operating income is the profit measure Cardinal Health reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Cardinal Health more safely than against another company.
Where Does Cardinal Health's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| United States | $221 billion | $225 billion | 99.3% | -1.9% |
| Outside the United States | $1.7 billion | $1.7 billion | 0.7% | -0.7% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Cardinal Health's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Cardinal Health reported in the segment note and revenue disclosures of its Form 10-K filed August 12, 2025 (accession 0000721371-25-000079), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Cardinal Health's business segments?
In its fiscal 2025 Form 10-K, Cardinal Health reports revenue for Pharmaceutical and Specialty Solutions, GMPD and All Other.
Which part of Cardinal Health brings in the most revenue?
Pharmaceutical and Specialty Solutions, with $205 billion of revenue in fiscal 2025, or 92% of the total.
How much of Cardinal Health's revenue comes from outside the United States?
1% in fiscal 2025, by the geographic breakdown Cardinal Health reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.