Cardinal Health, Inc. (CAH)
Cardinal Health distributes pharmaceuticals and manufactures medical and laboratory products.
Health Care stock comparison
CAH vs WAT: which business are you actually underwriting?
Compare Cardinal Health, Inc. with Waters Corporation using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Health
- Industry
- Different SIC
- Shared themes
- 1
- Updated
- 2026-02-23
CAH vs WAT: quick comparison
| Company fact | CAH | WAT |
|---|---|---|
| Company | Cardinal Health, Inc. | Waters Corporation |
| Exchange | NYSE | NYSE |
| Headquarters | Not recorded | Not recorded |
| Founded | Not recorded | Not recorded |
| SEC industry | Wholesale-Drugs, Proprietaries & Druggists' Sundries | Laboratory Analytical Instruments |
| Fiscal year-end | June 30 | December 31 |
| Latest annual filing | 10-K · 2025-08-12 | 10-K · 2026-02-23 |
How the businesses differ
Waters Corporation (WAT)
Waters Corporation makes analytical instruments for chromatography and mass spectrometry used in labs.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. CAH is classified by the SEC as Wholesale-Drugs, Proprietaries & Druggists' Sundries, while WAT is classified as Laboratory Analytical Instruments. The different industry codes are a warning against treating sector membership as proof of identical economics.
Which thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study CAH when…
- Drug approvals and clinical-trial readouts
- Medicare and drug-pricing policy
- Demographics and an aging population
- GLP-1 and obesity-drug demand
Study WAT when…
- Drug approvals and clinical-trial readouts
- Medicare and drug-pricing policy
- Demographics and an aging population
- GLP-1 and obesity-drug demand
Shared research themes
US markets
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.CAH's fiscal year ends June 30, while WAT's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House Clerk snapshot contains 0matched transaction rows for CAHand 1 for WAT. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
CAH primary filings
WAT primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving CAH or WAT
CAH vs WAT FAQs
Are CAH and WAT direct competitors?
Cardinal Health, Inc. and Waters Corporation sit in the same Health Care sector but have different SEC industry classifications. The comparison is most useful for portfolio role and sector exposure, not as a claim that every product competes directly.
Which is better, CAH or WAT?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this CAH vs WAT comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. Use a regulated broker or licensed quote provider for current prices, then use the primary filings here to test the business thesis.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-08-10. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-08-10. Independent educational research; not investment advice.
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