Intrinsic value of Cardinal Health - CAH

Previous Close

$53.19

  Intrinsic Value

$149.66

stock screener

  Rating & Target

str. buy

+181%

Previous close

$53.19

 
Intrinsic value

$149.66

 
Up/down potential

+181%

 
Rating

str. buy

We calculate the intrinsic value of CAH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 16.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.11
  5.09
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
Revenue, $m
  137,385
  145,119
  153,198
  161,640
  170,464
  179,692
  189,345
  199,446
  210,020
  221,090
  232,684
  244,830
  257,555
  270,891
  284,870
  299,524
  314,888
  331,000
  347,898
  365,622
  384,214
  403,719
  424,183
  445,656
  468,187
  491,832
  516,646
  542,689
  570,022
  598,711
Variable operating expenses, $m
  134,584
  142,110
  149,970
  158,183
  166,768
  175,746
  185,138
  194,965
  205,252
  216,023
  226,382
  238,199
  250,580
  263,554
  277,154
  291,411
  306,360
  322,036
  338,476
  355,720
  373,808
  392,785
  412,695
  433,586
  455,507
  478,511
  502,653
  527,991
  554,584
  582,496
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  134,584
  142,110
  149,970
  158,183
  166,768
  175,746
  185,138
  194,965
  205,252
  216,023
  226,382
  238,199
  250,580
  263,554
  277,154
  291,411
  306,360
  322,036
  338,476
  355,720
  373,808
  392,785
  412,695
  433,586
  455,507
  478,511
  502,653
  527,991
  554,584
  582,496
Operating income, $m
  2,800
  3,010
  3,228
  3,457
  3,696
  3,946
  4,207
  4,481
  4,767
  5,067
  6,302
  6,631
  6,976
  7,337
  7,715
  8,112
  8,528
  8,965
  9,422
  9,902
  10,406
  10,934
  11,488
  12,070
  12,680
  13,321
  13,993
  14,698
  15,438
  16,215
EBITDA, $m
  4,161
  4,395
  4,640
  4,896
  5,163
  5,443
  5,735
  6,041
  6,361
  6,697
  7,048
  7,416
  7,801
  8,205
  8,628
  9,072
  9,538
  10,026
  10,537
  11,074
  11,637
  12,228
  12,848
  13,498
  14,181
  14,897
  15,649
  16,437
  17,265
  18,134
Interest expense (income), $m
  200
  561
  664
  771
  883
  1,000
  1,122
  1,250
  1,383
  1,523
  1,669
  1,822
  1,983
  2,151
  2,327
  2,511
  2,705
  2,907
  3,120
  3,343
  3,577
  3,822
  4,079
  4,349
  4,632
  4,929
  5,241
  5,568
  5,911
  6,271
  6,649
Earnings before tax, $m
  2,239
  2,345
  2,457
  2,574
  2,696
  2,824
  2,958
  3,098
  3,244
  3,398
  4,480
  4,648
  4,825
  5,010
  5,204
  5,407
  5,621
  5,845
  6,080
  6,326
  6,584
  6,855
  7,140
  7,438
  7,751
  8,080
  8,425
  8,787
  9,167
  9,566
Tax expense, $m
  604
  633
  663
  695
  728
  762
  799
  836
  876
  917
  1,209
  1,255
  1,303
  1,353
  1,405
  1,460
  1,518
  1,578
  1,641
  1,708
  1,778
  1,851
  1,928
  2,008
  2,093
  2,182
  2,275
  2,373
  2,475
  2,583
Net income, $m
  1,634
  1,712
  1,794
  1,879
  1,968
  2,061
  2,159
  2,261
  2,368
  2,481
  3,270
  3,393
  3,522
  3,657
  3,799
  3,947
  4,103
  4,267
  4,438
  4,618
  4,806
  5,004
  5,212
  5,430
  5,658
  5,898
  6,150
  6,415
  6,692
  6,983

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  42,403
  44,790
  47,283
  49,889
  52,612
  55,461
  58,440
  61,558
  64,821
  68,238
  71,816
  75,565
  79,492
  83,608
  87,923
  92,446
  97,188
  102,161
  107,376
  112,846
  118,585
  124,605
  130,921
  137,548
  144,502
  151,800
  159,459
  167,497
  175,933
  184,787
Adjusted assets (=assets-cash), $m
  42,403
  44,790
  47,283
  49,889
  52,612
  55,461
  58,440
  61,558
  64,821
  68,238
  71,816
  75,565
  79,492
  83,608
  87,923
  92,446
  97,188
  102,161
  107,376
  112,846
  118,585
  124,605
  130,921
  137,548
  144,502
  151,800
  159,459
  167,497
  175,933
  184,787
Revenue / Adjusted assets
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
  3.240
Average production assets, $m
  6,869
  7,256
  7,660
  8,082
  8,523
  8,985
  9,467
  9,972
  10,501
  11,055
  11,634
  12,241
  12,878
  13,545
  14,243
  14,976
  15,744
  16,550
  17,395
  18,281
  19,211
  20,186
  21,209
  22,283
  23,409
  24,592
  25,832
  27,134
  28,501
  29,936
Working capital, $m
  1,649
  1,741
  1,838
  1,940
  2,046
  2,156
  2,272
  2,393
  2,520
  2,653
  2,792
  2,938
  3,091
  3,251
  3,418
  3,594
  3,779
  3,972
  4,175
  4,387
  4,611
  4,845
  5,090
  5,348
  5,618
  5,902
  6,200
  6,512
  6,840
  7,185
Total debt, $m
  12,305
  14,287
  16,356
  18,519
  20,779
  23,143
  25,616
  28,204
  30,912
  33,748
  36,718
  39,830
  43,090
  46,506
  50,087
  53,841
  57,777
  61,904
  66,233
  70,773
  75,536
  80,533
  85,775
  91,276
  97,048
  103,105
  109,462
  116,133
  123,135
  130,484
Total liabilities, $m
  35,194
  37,176
  39,245
  41,408
  43,668
  46,032
  48,505
  51,093
  53,801
  56,637
  59,607
  62,719
  65,979
  69,395
  72,976
  76,730
  80,666
  84,793
  89,122
  93,662
  98,425
  103,422
  108,664
  114,165
  119,937
  125,994
  132,351
  139,022
  146,024
  153,373
Total equity, $m
  7,208
  7,614
  8,038
  8,481
  8,944
  9,428
  9,935
  10,465
  11,020
  11,600
  12,209
  12,846
  13,514
  14,213
  14,947
  15,716
  16,522
  17,367
  18,254
  19,184
  20,159
  21,183
  22,257
  23,383
  24,565
  25,806
  27,108
  28,474
  29,909
  31,414
Total liabilities and equity, $m
  42,402
  44,790
  47,283
  49,889
  52,612
  55,460
  58,440
  61,558
  64,821
  68,237
  71,816
  75,565
  79,493
  83,608
  87,923
  92,446
  97,188
  102,160
  107,376
  112,846
  118,584
  124,605
  130,921
  137,548
  144,502
  151,800
  159,459
  167,496
  175,933
  184,787
Debt-to-equity ratio
  1.710
  1.880
  2.030
  2.180
  2.320
  2.450
  2.580
  2.700
  2.810
  2.910
  3.010
  3.100
  3.190
  3.270
  3.350
  3.430
  3.500
  3.560
  3.630
  3.690
  3.750
  3.800
  3.850
  3.900
  3.950
  4.000
  4.040
  4.080
  4.120
  4.150
Adjusted equity ratio
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170
  0.170

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,634
  1,712
  1,794
  1,879
  1,968
  2,061
  2,159
  2,261
  2,368
  2,481
  3,270
  3,393
  3,522
  3,657
  3,799
  3,947
  4,103
  4,267
  4,438
  4,618
  4,806
  5,004
  5,212
  5,430
  5,658
  5,898
  6,150
  6,415
  6,692
  6,983
Depreciation, amort., depletion, $m
  1,361
  1,386
  1,412
  1,439
  1,467
  1,497
  1,528
  1,560
  1,594
  1,629
  746
  785
  825
  868
  913
  960
  1,009
  1,061
  1,115
  1,172
  1,231
  1,294
  1,360
  1,428
  1,501
  1,576
  1,656
  1,739
  1,827
  1,919
Funds from operations, $m
  2,995
  3,098
  3,205
  3,318
  3,435
  3,558
  3,687
  3,821
  3,962
  4,110
  4,016
  4,178
  4,348
  4,525
  4,712
  4,907
  5,113
  5,328
  5,553
  5,790
  6,038
  6,298
  6,572
  6,858
  7,159
  7,475
  7,806
  8,154
  8,519
  8,902
Change in working capital, $m
  89
  93
  97
  101
  106
  111
  116
  121
  127
  133
  139
  146
  153
  160
  168
  176
  184
  193
  203
  213
  223
  234
  246
  258
  270
  284
  298
  313
  328
  344
Cash from operations, $m
  2,906
  3,005
  3,108
  3,216
  3,329
  3,447
  3,571
  3,700
  3,835
  3,977
  3,877
  4,032
  4,195
  4,365
  4,544
  4,732
  4,928
  5,134
  5,350
  5,577
  5,815
  6,064
  6,326
  6,601
  6,889
  7,191
  7,508
  7,841
  8,191
  8,558
Maintenance CAPEX, $m
  -416
  -440
  -465
  -491
  -518
  -546
  -576
  -607
  -639
  -673
  -709
  -746
  -785
  -825
  -868
  -913
  -960
  -1,009
  -1,061
  -1,115
  -1,172
  -1,231
  -1,294
  -1,360
  -1,428
  -1,501
  -1,576
  -1,656
  -1,739
  -1,827
New CAPEX, $m
  -373
  -387
  -404
  -422
  -441
  -461
  -483
  -505
  -529
  -554
  -580
  -607
  -636
  -667
  -699
  -733
  -768
  -806
  -845
  -886
  -930
  -975
  -1,023
  -1,074
  -1,127
  -1,182
  -1,241
  -1,302
  -1,367
  -1,434
Cash from investing activities, $m
  -789
  -827
  -869
  -913
  -959
  -1,007
  -1,059
  -1,112
  -1,168
  -1,227
  -1,289
  -1,353
  -1,421
  -1,492
  -1,567
  -1,646
  -1,728
  -1,815
  -1,906
  -2,001
  -2,102
  -2,206
  -2,317
  -2,434
  -2,555
  -2,683
  -2,817
  -2,958
  -3,106
  -3,261
Free cash flow, $m
  2,117
  2,178
  2,239
  2,303
  2,370
  2,440
  2,512
  2,588
  2,667
  2,750
  2,588
  2,679
  2,774
  2,873
  2,977
  3,086
  3,200
  3,319
  3,445
  3,576
  3,713
  3,858
  4,009
  4,167
  4,334
  4,508
  4,691
  4,883
  5,085
  5,296
Issuance/(repayment) of debt, $m
  1,910
  1,981
  2,070
  2,163
  2,261
  2,364
  2,473
  2,588
  2,709
  2,836
  2,970
  3,111
  3,260
  3,416
  3,581
  3,754
  3,936
  4,127
  4,329
  4,540
  4,763
  4,997
  5,242
  5,501
  5,772
  6,057
  6,357
  6,671
  7,002
  7,349
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,910
  1,981
  2,070
  2,163
  2,261
  2,364
  2,473
  2,588
  2,709
  2,836
  2,970
  3,111
  3,260
  3,416
  3,581
  3,754
  3,936
  4,127
  4,329
  4,540
  4,763
  4,997
  5,242
  5,501
  5,772
  6,057
  6,357
  6,671
  7,002
  7,349
Total cash flow (excl. dividends), $m
  4,027
  4,159
  4,309
  4,466
  4,631
  4,804
  4,985
  5,176
  5,376
  5,586
  5,558
  5,790
  6,034
  6,289
  6,558
  6,840
  7,136
  7,447
  7,773
  8,116
  8,476
  8,854
  9,251
  9,668
  10,106
  10,565
  11,048
  11,555
  12,087
  12,646
Retained Cash Flow (-), $m
  -380
  -406
  -424
  -443
  -463
  -484
  -506
  -530
  -555
  -581
  -608
  -637
  -668
  -700
  -733
  -769
  -806
  -845
  -887
  -930
  -976
  -1,023
  -1,074
  -1,127
  -1,182
  -1,241
  -1,302
  -1,366
  -1,434
  -1,505
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  3,646
  3,754
  3,885
  4,023
  4,168
  4,319
  4,479
  4,646
  4,821
  5,005
  4,950
  5,153
  5,366
  5,590
  5,824
  6,071
  6,330
  6,601
  6,887
  7,186
  7,501
  7,831
  8,177
  8,541
  8,923
  9,325
  9,746
  10,188
  10,653
  11,140
Discount rate, %
  4.90
  5.15
  5.40
  5.67
  5.96
  6.25
  6.57
  6.89
  7.24
  7.60
  7.98
  8.38
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
PV of cash for distribution, $m
  3,476
  3,395
  3,318
  3,226
  3,121
  3,002
  2,869
  2,725
  2,570
  2,406
  2,127
  1,962
  1,793
  1,622
  1,452
  1,286
  1,125
  972
  828
  696
  576
  469
  375
  295
  228
  172
  128
  92
  65
  45
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Cardinal Health, Inc. is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies. The Medical segment distributes a range of medical, surgical and laboratory products, and provides services to hospitals, ambulatory surgery centers, clinical laboratories and other healthcare providers. This segment also manufactures, sources and develops its own Cardinal Health brand medical and surgical products. It provides post-acute care management and transition services, and software to hospitals.

FINANCIAL RATIOS  of  Cardinal Health (CAH)

Valuation Ratios
P/E Ratio 13
Price to Sales 0.1
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 14.2
Price to Free Cash Flow 21.1
Growth Rates
Sales Growth Rate 6.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -16.8%
Cap. Spend. - 3 Yr. Gr. Rate 9.2%
Financial Strength
Quick Ratio 5
Current Ratio 0
LT Debt to Equity 133.2%
Total Debt to Equity 152.7%
Interest Coverage 11
Management Effectiveness
Return On Assets 3.8%
Ret/ On Assets - 3 Yr. Avg. 4.4%
Return On Total Capital 8.8%
Ret/ On T. Cap. - 3 Yr. Avg. 10.6%
Return On Equity 19.3%
Return On Equity - 3 Yr. Avg. 20.3%
Asset Turnover 3.5
Profitability Ratios
Gross Margin 5%
Gross Margin - 3 Yr. Avg. 5.3%
EBITDA Margin 2.2%
EBITDA Margin - 3 Yr. Avg. 2.4%
Operating Margin 1.6%
Oper. Margin - 3 Yr. Avg. 1.9%
Pre-Tax Margin 1.5%
Pre-Tax Margin - 3 Yr. Avg. 1.8%
Net Profit Margin 1%
Net Profit Margin - 3 Yr. Avg. 1.1%
Effective Tax Rate 32.7%
Eff/ Tax Rate - 3 Yr. Avg. 36.1%
Payout Ratio 44.8%

CAH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CAH stock intrinsic value calculation we used $129976 million for the last fiscal year's total revenue generated by Cardinal Health. The default revenue input number comes from 0001 income statement of Cardinal Health. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CAH stock valuation model: a) initial revenue growth rate of 5.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.9%, whose default value for CAH is calculated based on our internal credit rating of Cardinal Health, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Cardinal Health.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CAH stock the variable cost ratio is equal to 98%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for CAH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Cardinal Health.

Corporate tax rate of 27% is the nominal tax rate for Cardinal Health. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CAH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CAH are equal to 5%.

Life of production assets of 15.6 years is the average useful life of capital assets used in Cardinal Health operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CAH is equal to 1.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $6828 million for Cardinal Health - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 310.685 million for Cardinal Health is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Cardinal Health at the current share price and the inputted number of shares is $16.5 billion.

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