Question 1

What is Cardinal Health's P/B ratio?

Accepted Answer

Cardinal Health (CAH) P/B ratio is 17.0× as of May 4, 2022. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Cardinal Health?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Cardinal Health specifically, the relevant sector benchmark is the current sector median of 3.2×.

Question 5

Is Cardinal Health's P/B ratio high or low?

Accepted Answer

Cardinal Health's P/B ratio of 17.0× is above its own 5-year average of 11.3× and above the sector median of 3.2×. That places the current reading at the 94th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Cardinal Health's historical P/B ratio range?

Accepted Answer

In the available daily series, Cardinal Health (CAH) P/B ratio has ranged from a low of 1.3× in 2009 to a high of 18.0× in 2022. The 5-year average is 11.3× and the 5-year median is 10.2×.

Question 7

What was Cardinal Health's P/B ratio in 2021?

Accepted Answer

Cardinal Health (CAH) P/B ratio at the end of 2021 was 9.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Cardinal Health's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$40.2B	-$2.78B	—	—	Jun 30, 2025
2024	$23.9B	-$3.21B	—	—	Jun 30, 2024
2023	$24B	-$2.96B	—	—	Jun 30, 2023
2022	$14.3B	-$709M	—	—	Jun 30, 2022
2021	$16.6B	$1.79B	9.2×	+0.7×	Jun 30, 2021
2020	$15.2B	$1.79B	8.5×	+6.3×	Jun 30, 2020
2019	$14.2B	$6.33B	2.2×	-0.3×	Jun 30, 2019
2018	$15.1B	$6.06B	2.5×	-1.1×	Jun 30, 2018
2017	$24.6B	$6.81B	3.6×	-0.2×	Jun 30, 2017
2016	$25.3B	$6.55B	3.9×	-0.6×	Jun 30, 2016
2015	$27.6B	$6.26B	4.4×	+0.8×	Jun 30, 2015
2014	$23.2B	$6.4B	3.6×	+0.9×	Jun 30, 2014
2013	$16.2B	$5.98B	2.7×	+0.4×	Jun 30, 2013
2012	$14.5B	$6.24B	2.3×	-0.4×	Jun 30, 2012
2011	$15.7B	$5.85B	2.7×	+0.5×	Jun 30, 2011
2010	$11.7B	$5.28B	2.2×	+1.0×	Jun 30, 2010
2009	$11B	$8.72B	1.3×	-1.1×	Jun 30, 2009
2008	$18.3B	$7.75B	2.4×	-1.1×	Jun 30, 2008
2007	$25.6B	$7.38B	3.5×	+0.4×	Jun 30, 2007
2006	$26B	$8.49B	3.1×	+0.2×	Jun 30, 2006
2005	$24.5B	$8.59B	2.9×	-0.9×	Jun 30, 2005
2004	$30.2B	$7.98B	3.8×	+0.1×	Jun 30, 2004
2003	$28.3B	$7.67B	3.7×	-0.2×	Jun 30, 2003
2002	$24.8B	$6.39B	3.9×	—	Jun 30, 2002


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P/B Ratio for Cardinal Health (CAH) 2002-2026

P/B Ratio daily chart for Cardinal Health (CAH)

Historical P/B Ratio for Cardinal Health (CAH) from 2002 to 2025

About P/B Ratio at Cardinal Health (CAH)

Cardinal Health P/B Ratio by Year

Cardinal Health P/B Ratio 2021: 9.2×

Cardinal Health P/B Ratio 2020: 8.5×

Cardinal Health P/B Ratio 2019: 2.2×

Cardinal Health P/B Ratio 2018: 2.5×

Cardinal Health P/B Ratio 2017: 3.6×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Cardinal Health (CAH) Key Financials