Cardinal Health Inc (CAH) is slightly overvalued and Mckesson Corp (MCK) is undervalued.
Against our estimates of intrinsic value, MCK trades at the wider discount: a margin of safety of +29%, against -9% for CAH.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.9% (average of 3 methods) values the shares at $203.47; the price of $222.04 is 9% above that value, and 80% of that value comes from beyond year five.
Leak Score 43/100 on 8 of 12 signals
Discounting its cash flows at 7.5% (average of 3 methods) values the shares at $1250.61; the price of $891.23 is 29% below that value, and 82% of that value comes from beyond year five.
Leak Score 78/100 on 8 of 12 signals
| Metric | CAH | MCK |
|---|---|---|
| Verdict | Slightly overvalued | Undervalued |
| Price | $222.04 | $891.23 |
| Intrinsic value | $203.47 | $1250.61 |
| Margin of safety | -9% | +29% |
| Leak Score | 43/100 (8/12) | 78/100 (8/12) |
| Market cap | $51.6B | $103.9B |
| Revenue growth, 5 years | 9.4% | 11.1% |
| Operating margin | 1.3% | 1.6% |
| Net margin | 0.7% | 1.1% |
| P/E | 30.7x | 23.9x |
| Forward P/E | 15.8x | 17.6x |
| Dividend yield | 0.9% | 0.4% |