FirmAtlas
Company handbook · MCK · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
MCK · CIK 927653 · LATEST FILING: 10-Q JUN '26 · FILED AUG 5, 2026
McKESSON CORPORATION
$1,004.84
+6.20 (+0.62%)
Close, Oct 16, 2026 · 52-week $724–1,015
Last fiscal year
McKESSON CORPORATION reported revenue of $403.4B for the year ended Mar 31, 2026 (FY25), up 12.4% from FY24. Net income was $4.8B, operating cash flow $6.2B and free cash flow $5.7B. Source: 10-K filed May 8, 2026.
Market cap
$124.7B
P/E
27.2
EV/EBITDA
19.6x
P/B
n/m
Div yield
0.34%
ROIC
1964.6%
Revenue 1Y
12.4%/yr
EPS 1Y
49.2%/yr
Shares 1Y
−3%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOBrian S. Tyler
HQIrving, TX
AuditorDeloitte & Touche LLP
Employees43,000
Year endsMarch
Revenue by segment · FY25
North American Pharmaceutical84%
Oncology And Multispecialty12%
Medical Surgical Solutions3%
Prescription Technology Solutions1%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
20.1%
37.5%
30.2%
29.6%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$13.0B deployed
Capex
$973M
7.5%
Acquisitions
$3.4B
26.4%
Dividends
$726M
5.6%
Buybacks
$7.9B
60.6%
Operating cash flow over the period: $12.2B. Total debt changed by +$800M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Mar 31, 2026 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
359,051
403,430+12.4%
410,983
YoY
+12.4%
Gross profit
13,323
14,550+9.2%
14,956
Gross margin
3.7%
3.6%−0.1 pp
—
Operating income
4,422
6,212+40.5%
6,495
Operating margin
1.2%
1.5%+0.3 pp
—
EBITDA
4,694
6,499+38.5%
—
EBITDA margin
1.3%
1.6%+0.3 pp
—
Interest expense
265
247−6.8%
—
Interest coverage
17.71x
26.31x+8.60x
—
Net income
3,295
4,762+44.5%
4,592
YoY
+44.5%
Net margin
0.9%
1.2%+0.3 pp
—
EPS (diluted, $)
25.72
38.38+49.2%
37.21
YoY
+49.2%
Balance sheet
Total assets
75,140
82,323+9.6%
88,330
Cash & short-term investments
5,956
4,068−31.7%
—
Accounts receivable
25,643
27,985+9.1%
—
Inventory
23,001
24,207+5.2%
—
Net PP&E
2,502
2,668+6.6%
—
Other assets
18,038
23,395+29.7%
—
Total liabilities
77,214
84,495+9.4%
92,570
Accounts payable
55,330
59,973+8.4%
—
Total debt
5,700
6,500+14.0%
9,700
Other liabilities
16,184
18,022+11.4%
—
Shareholders’ equity
(2,074)
(2,172)n/m
(4,240)
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
6,085
6,155+1.2%
6,853
Net income
3,481
5,099+46.5%
—
Depreciation & amortization
272
287+5.5%
—
Stock-based compensation
226
247+9.3%
—
Working capital & other
2,106
522−75.2%
—
Cash from investing
(733)
(3,432)n/m
—
Capex
(537)
(436)n/m
—
Acquisitions
(24)
(3,416)n/m
—
Other investing
(172)
420n/m
—
Cash from financing
(3,965)
(4,631)n/m
—
Debt raised
498
1,990+299.6%
—
Debt repaid
(519)
(1,207)n/m
—
Dividends
(345)
(381)n/m
—
Buybacks
(3,146)
(4,750)n/m
—
Other financing
(453)
(283)n/m
—
Net change in cash
1,371
(1,888)−237.7%
—
Free cash flow (OCF − capex)
5,548
5,719+3.1%
6,416
Where the cash went
Operating cash flow
6,085
6,155+1.2%
6,853
Reinvested in the business
561
3,852+586.6%
—
% of operating cash flow
9.2%
62.6%
Capex
537
436−18.8%
437
Acquisitions
24
3,416+14133.3%
—
Free cash flow
5,548
5,719+3.1%
6,416
YoY
+3.1%
Returned to shareholders
3,491
5,131+47.0%
—
% of free cash flow
62.9%
89.7%
Dividends
345
381+10.4%
—
Buybacks
3,146
4,750+51.0%
—
Change in total debt
—
800
—
Cash left over
—
(2,028)
—
FCF conversion (FCF ÷ net income)
168.4%
120.1%−48.3 pp
—
Owner earnings
—
5,708
—
Owner earnings margin
—
1.4%
—
Buyback yield
3.6%
4.4%+0.8 pp
—
Returns & ratios
ROIC (all capital)
—
1964.6%
—
Net debt / EBITDA
−0.05x
0.37x+0.43x
—
Cash conversion cycle (days)
−8
−8−0 d
—
ROE
−158.9%
−219.2%−60.4 pp
—
ROA
4.4%
5.8%+1.4 pp
—
ROCE
32.7%
40.6%+7.9 pp
—
NOPAT
3,531
5,108+44.7%
—
Invested capital (operating)
(4,184)
(5,113)n/m
—
Invested capital (all)
(2,330)
260n/m
—
Reinvestment rate
—
−18.2%
—
Debtor days
26
25−1 d
—
Inventory days
24
23−2 d
—
Days payable
58
56−2 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
103,150
106,158
96,295
105,380
vs year-ago quarter
Gross profit
3,542
3,685
4,044
3,685
Gross margin
3.4%
3.5%
4.2%
3.5%
Operating income
1,407
1,619
2,150
1,319
Net income
1,110
1,186
1,682
614
vs year-ago quarter
Net margin
1.1%
1.1%
1.7%
0.6%
EPS (diluted, $)
8.92
9.59
13.55
5.15
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
84,160
84,190
82,323
88,330
Cash & equivalents
4,109
3,053
4,068
5,256
Total debt
7,800
6,600
6,500
9,700
Shareholders’ equity
(1,739)
(1,298)
(2,172)
(4,240)
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
2,420
1,232
3,421
(220)
Capex
106
108
111
112
Free cash flow
2,314
1,124
3,310
(332)
vs year-ago quarter