McKesson Corporation (MCK) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$9.54	$9.93	+4.1%	—	$105.4B	—
Q4 26	$11.6	$11.7	+1.0%	—	$96.3B	—
Q3 26	$9.27	$9.34	+0.8%	—	$106.2B	—
Q2 26	$9.05	$9.86	+9.0%	—	$103.2B	—
Q1 26	$8.15	$8.26	+1.3%	—	$97.8B	—
Q4 25	$9.83	$10.1	+3.0%	—	$90.8B	—
Q3 25	$7.99	$8.03	+0.5%	—	$95.3B	—
Q2 25	$6.87	$7.07	+2.9%	—	$93.7B	—
Q1 25	$7.21	$7.88	+9.3%	—	$79.3B	—
Q4 24	$6.36	$6.18	-2.8%	—	$76.4B	—
Q3 24	$7.05	$7.74	+9.8%	—	$80.9B	—
Q2 24	$6.15	$6.23	+1.3%	—	$77.2B	—
Q1 24	$5.87	$7.27	+23.9%	—	$74.5B	—
Q4 23	$7.17	$7.19	+0.3%	—	$68.9B	—
Q3 23	$6.35	$6.9	+8.7%	—	$70.5B	—
Q2 23	$6.09	$6.06	-0.5%	—	$70.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$38.5	—	—	$403.4B	—
FY25	—	$25.9	—	—	$359.1B	—
FY24	—	$22.5	—	—	$309B	—
FY23	—	$25.2	—	—	$276.7B	—
FY22	—	$7.32	—	—	$264B	—
FY21	—	-$28.3	—	—	$238.2B	—
FY20	—	$4.98	—	—	$231.1B	—
FY19	—	$0.17	—	—	$214.3B	—
FY18	—	$0.32	—	—	$208.4B	—
FY17	—	$22.9	—	—	$198.5B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$198.5B	$208.4B	$214.3B	$231.1B	$238.2B	$264B	$276.7B	$309B	$359.1B	$403.4B
YoY change	+4.01%	+4.95%	+2.86%	+7.81%	+3.11%	+10.8%	+4.83%	+11.7%	+16.2%	+12.4%

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$77.2B	$80.9B	$76.4B	$79.3B	$93.7B	$95.3B	$90.8B	$97.8B	$103.2B	$106.2B	$96.3B	$105.4B
YoY change	+10.1%	+14.8%	+10.8%	+6.44%	+21.3%	+17.8%	+18.9%	+23.4%	+10.1%	+11.4%	+6.02%	+7.72%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	198.5B	208.4B	214.3B	231.1B	238.2B	264B	276.7B	309B	359.1B	403.4B
Cost of revenue	187.3B	197.2B	202.6B	219B	226.1B	250.8B	264.4B	296.1B	345.7B	388.9B
Gross profit	11.3B	11.2B	11.8B	12B	12.1B	13.1B	12.4B	12.8B	13.3B	14.6B
Gross margin	5.68%	5.37%	5.48%	5.2%	5.1%	4.97%	4.47%	4.15%	3.71%	3.61%
Research & development	341M	125M	71M	96M	—	—	—	—	—	—
Selling, general & administrative	7.4B	8.1B	8.4B	9.2B	8.8B	10.5B	7.8B	8.7B	8.5B	8.1B
Operating expenses	7.8B	8.3B	8.5B	9.3B	8.8B	10.5B	7.8B	8.7B	8.5B	8.1B
Operating income	3.5B	2.9B	3.3B	2.8B	3.3B	2.6B	4.6B	4.2B	4.8B	6.5B
Operating margin	1.75%	1.4%	1.55%	1.23%	1.38%	0.98%	1.66%	1.35%	1.34%	1.6%
Non-operating income, net	3.7B	-2.4B	-2.5B	-1.5B	-8.1B	-497M	189M	-248M	-365M	-185M
Pretax income	6.9B	239M	610M	1.1B	-5B	1.9B	4.6B	3.8B	4.4B	6.2B
Income tax	1.6B	-53M	356M	18M	-695M	636M	905M	629M	878M	1.1B
Net income	5.2B	297M	255M	1.1B	-4.3B	1.3B	3.7B	3.2B	3.5B	5.1B
Net margin	2.6%	0.14%	0.12%	0.48%	-1.82%	0.49%	1.35%	1.02%	0.97%	1.26%
EBITDA	4.4B	3.7B	4.1B	2.7B	4.2B	3.5B	5.6B	5B	5.6B	7.4B
EPS	22.9	0.32	0.17	4.98	-28.3	7.32	25.2	22.5	25.9	38.5
Diluted EPS	22.7	0.32	0.17	4.95	-28.3	7.23	25	22.4	25.7	38.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	77.2B	80.9B	76.4B	79.3B	93.7B	95.3B	90.8B	97.8B	103.2B	106.2B	96.3B	105.4B
Cost of revenue	74.1B	77.7B	72.8B	76.1B	90.4B	92B	87.2B	94.5B	99.6B	102.5B	92.3B	101.7B
Gross profit	3.1B	3.2B	3.6B	3.2B	3.2B	3.3B	3.6B	3.3B	3.5B	3.7B	4B	3.7B
Gross margin	3.97%	3.9%	4.7%	3.98%	3.47%	3.45%	4.01%	3.35%	3.43%	3.47%	4.2%	3.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.1B	2.5B	2.2B	2B	2.5B	2B	2B	2.2B	2.1B	2B	1.8B	2.3B
Operating expenses	2.1B	2.5B	2.2B	2B	2.5B	2B	2B	2.2B	2.1B	2B	1.8B	2.3B
Operating income	977M	646M	1.4B	1.2B	745M	1.3B	1.7B	1.1B	1.5B	1.7B	2.2B	1.4B
Operating margin	1.27%	0.8%	1.83%	1.45%	0.8%	1.32%	1.83%	1.11%	1.42%	1.56%	2.33%	1.35%
Non-operating income, net	—	30M	-264M	8M	-133M	37M	-277M	17M	1M	38M	-241M	-36M
Pretax income	916M	612M	1.2B	1.1B	534M	1.2B	1.5B	1.1B	1.4B	1.6B	2.1B	1.3B
Income tax	213M	-18M	340M	124M	247M	298M	209M	220M	232M	380M	270M	276M
Net income	703M	630M	830M	960M	287M	928M	1.3B	831M	1.2B	1.3B	1.9B	1B
Net margin	0.91%	0.78%	1.09%	1.21%	0.31%	0.97%	1.44%	0.85%	1.13%	1.18%	1.93%	0.98%
EBITDA	1.2B	839M	1.6B	1.4B	942M	1.5B	1.7B	1.3B	1.7B	1.9B	2.5B	1.7B
EPS	4.95	4.45	6.06	7.04	1.88	6.98	10.1	6.28	8.95	9.63	13.8	5.17
Diluted EPS	4.92	4.42	6.02	7	1.87	6.95	10	6.25	8.92	9.59	13.7	5.15

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	2.8B	2.7B	3B	4B	6.3B	3.5B	4.7B	4.6B	5.7B	4B
Receivables	14.6B	14.3B	14.9B	17.2B	17.1B	16.4B	17.2B	19.4B	22.3B	24.2B
Inventory	15.3B	16.3B	16.7B	16.7B	19.2B	18.7B	19.7B	21.1B	23B	24.2B
Total current assets	36.9B	37.1B	38.5B	42.2B	45.4B	46.2B	44.3B	48B	55.4B	57.2B
Property, plant & equipment	-1.3B	-1.3B	-1.6B	2.6B	2.9B	2.3B	2.4B	2.6B	2.9B	3.3B
Goodwill & intangibles	28.5B	30.1B	26.1B	25B	24.7B	23B	24.4B	24.5B	23B	30.8B
Total assets	61B	60.4B	59.7B	61.2B	65B	63.3B	62.3B	67.4B	75.1B	82.3B
Accounts payable	31B	32.2B	33.9B	37.2B	39B	38.1B	42.5B	47.1B	55.3B	60B
Short-term debt	1.2B	1.1B	330M	1.4B	1.1B	1.1B	1.3B	345M	1.4B	1.6B
Total current liabilities	35.6B	36.7B	37.6B	42.6B	44.1B	48.5B	48B	52.4B	61.6B	67B
Long-term debt	7.3B	6.8B	7.3B	8B	8.3B	6.4B	6B	7B	5.9B	7.1B
Total liabilities	48.4B	48.9B	50B	54.5B	63.6B	65.1B	63.8B	69B	76.8B	83.2B
Shareholders' equity	12.6B	11.5B	9.7B	6.7B	1.4B	-1.8B	-1.5B	-1.6B	-1.7B	-834M
Total debt	8.5B	7.9B	7.6B	9.4B	9.4B	7.5B	7.3B	7.4B	7.4B	8.6B
Net debt	5.8B	5.2B	4.6B	5.4B	3.1B	4B	2.6B	2.8B	1.7B	4.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	2.5B	2B	4.6B	2.3B	2.5B	1.1B	5.7B	2.4B	4B	3B	4B	5.2B
Receivables	22.5B	23.1B	19.4B	23.7B	25.3B	25.8B	22.3B	28.2B	28.3B	28.2B	24.2B	30.3B
Inventory	21.9B	22B	21.1B	25.6B	24.2B	23.8B	23B	25.1B	26.1B	27.1B	24.2B	26.3B
Total current assets	47.5B	47.6B	48B	52.3B	53.3B	51.7B	55.4B	56.8B	59.9B	59.7B	57.2B	62.8B
Property, plant & equipment	3.9B	3.9B	2.6B	4.1B	3.9B	4.2B	2.9B	4.7B	4.6B	4.7B	3.3B	4.6B
Goodwill & intangibles	24.2B	24.1B	24.5B	24.3B	23.3B	23B	23B	31.3B	31B	31B	30.8B	30.6B
Total assets	66.1B	66.5B	67.4B	71.7B	72.4B	71.1B	75.1B	81.3B	84.2B	84.2B	82.3B	88.3B
Accounts payable	46.8B	46.7B	47.1B	51.7B	53.3B	49.7B	55.3B	57.9B	60.9B	60.7B	60B	63.7B
Short-term debt	345M	562M	345M	347M	296M	3.8B	1.4B	1.5B	2B	1.4B	1.6B	1.6B
Total current liabilities	51.1B	51.7B	52.4B	56.4B	58.8B	58.6B	61.6B	64.3B	68B	68.1B	67B	70.4B
Long-term debt	7B	7B	7B	7B	6.9B	5.9B	5.9B	8.4B	7.8B	7.2B	7.1B	10.1B
Total liabilities	67.6B	68.2B	69B	73.1B	75.1B	73.8B	76.8B	82.2B	84.7B	84.3B	83.2B	89.6B
Shareholders' equity	-1.5B	-1.7B	-1.6B	-1.4B	-2.6B	-2.7B	-1.7B	-863M	-578M	-99M	-834M	-1.3B
Total debt	7.3B	7.6B	7.4B	7.4B	7.2B	9.8B	7.4B	9.9B	9.8B	8.6B	8.6B	11.7B
Net debt	4.8B	5.6B	2.8B	5.1B	4.7B	8.6B	1.7B	7.5B	5.8B	5.7B	4.6B	6.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	5.2B	297M	255M	1.1B	-4.3B	1.3B	3.7B	3.2B	3.5B	5.1B
Depreciation & amortization	910M	951M	949M	922M	887M	760M	608M	635M	636M	729M
Stock-based compensation	115M	69M	—	—	—	—	—	—	—	—
Change in working capital	1.3B	1.7B	546M	-3.3B	6.4B	-2.9B	-3.4B	-4.7B	-7.1B	-4.4B
Operating cash flow	4.5B	2.1B	1.8B	-834M	3B	51M	1.5B	-1.1B	-2.7B	6.2B
Capital expenditure	-404M	-405M	-426M	-362M	-451M	-388M	-390M	-431M	-537M	-309M
Investing cash flow	-3.1B	-2.8B	-1.3B	-435M	-225M	58M	-374M	-816M	-411M	-3B
Dividends paid	-253M	-262M	-292M	-294M	-276M	-277M	-292M	-314M	-345M	-381M
Share repurchases	-2.3B	-1.7B	-1.6B	-1.9B	-742M	-3.5B	-3.6B	-3B	-3.1B	-4.8B
Financing cash flow	-10.2B	-23.8B	-39.5B	-24.2B	-8B	-17.5B	-12.8B	-23.3B	-19.1B	-13.9B
Net change in cash	-8.8B	-24.5B	-38.9B	-25.4B	-5.2B	-17.4B	-11.7B	-25.2B	-22.1B	-10.7B
Free cash flow	4.2B	3.8B	3.5B	3.9B	3.9B	3.9B	4.6B	3.6B	5.2B	5.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	703M	630M	830M	960M	287M	928M	1.3B	831M	1.2B	1.3B	1.9B	1B
Depreciation & amortization	157M	159M	160M	169M	163M	153M	151M	157M	188M	188M	196M	195M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-2.7B	-1.2B	2.8B	-7.2B	-800M	-641M	1B	-4B	-2.2B	-732M	2.5B	-5.1B
Operating cash flow	-2.1B	-138M	3.7B	-5.9B	-29M	1.1B	2.2B	-918M	2.4B	1.2B	3.4B	-220M
Capital expenditure	-75M	-90M	-188M	-106M	-136M	-126M	-169M	-78M	-90M	-67M	-74M	-40M
Investing cash flow	-101M	-116M	-496M	-26M	-204M	-66M	-115M	-3.5B	82M	-161M	536M	-102M
Dividends paid	-75M	-83M	-82M	-82M	-80M	-92M	-91M	-90M	-89M	-101M	-101M	-102M
Share repurchases	-809M	-842M	-678M	-527M	-1.5B	-827M	-300M	-581M	-818M	-680M	-2.7B	-2.5B
Financing cash flow	-2.8B	-3.2B	-16.4B	-2.2B	-7.1B	-796M	-9B	1.2B	-3.2B	-2B	-9.8B	1.6B
Net change in cash	-5.1B	-3.4B	-13.2B	-8.1B	-7.3B	245M	-6.9B	-3.2B	-734M	-955M	-5.8B	1.3B
Free cash flow	825M	100M	3.9B	-1.5B	1.9B	-2.6B	7.5B	-1.1B	2.2B	1.1B	3.2B	-372M

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	32.8B	29.3B	22.9B	24.5B	—	46.6B	50.2B	71.5B	85.7B	107B	99.8B
Enterprise value	38.5B	34.5B	27.6B	29.9B	—	50.6B	52.9B	74.3B	87.4B	111.6B	110.6B
Shares outstanding	221M	208M	196M	181M	160.6M	152.3M	141.1M	133.2M	127.4M	123.6M	123.6M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	6.36	98.7	90	21.9	—	36.2	13.5	22.6	24.6	21	23.1
P/S	0.17	0.14	0.11	0.11	—	0.18	0.18	0.23	0.24	0.27	0.24
P/B	2.6	2.54	2.37	3.65	—	-26	-33.7	-44.7	-50.6	-128.2	-78.1
EV/EBITDA	8.68	9.38	6.67	10.9	—	14.6	9.48	15	15.7	15.1	15.6
EV/Sales	0.19	0.17	0.13	0.13	—	0.19	0.19	0.24	0.24	0.28	0.27
Earnings yield	15.7%	1.01%	1.11%	4.57%	—	2.76%	7.41%	4.42%	4.06%	4.77%	4.33%
FCF yield	12.8%	12.8%	15.2%	15.8%	—	8.36%	9.16%	5.07%	6.1%	5.06%	6.81%
PEG	—	—	—	—	—	—	—	—	—	—	-1.31

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	5.68%	5.37%	5.48%	5.2%	5.1%	4.97%	4.47%	4.15%	3.71%	3.61%	3.5%
Operating margin	1.75%	1.4%	1.55%	1.23%	1.38%	0.98%	1.66%	1.35%	1.34%	1.6%	1.35%
Net margin	2.6%	0.14%	0.12%	0.48%	-1.82%	0.49%	1.35%	1.02%	0.97%	1.26%	1.12%
ROE	40.9%	2.58%	2.63%	16.7%	-300.1%	-71.8%	-249.8%	-197.6%	-205.5%	-611.4%	-571%
ROA	8.45%	0.49%	0.43%	1.83%	-6.68%	2.03%	5.97%	4.69%	4.63%	6.19%	4.74%
ROIC	14.5%	17.5%	9.66%	23.1%	72.1%	78.3%	327.1%	288%	76.9K%	139.5%	106.5%
Return on tangible assets	15.9%	0.98%	0.76%	3.09%	-10.8%	3.2%	9.83%	7.36%	6.67%	9.89%	9.18%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	1.04	1.01	1.02	0.99	1.03	0.95	0.92	0.92	0.9	0.85	0.89
Quick ratio	0.61	0.57	0.58	0.6	0.59	0.57	0.51	0.51	0.53	0.49	0.52
Debt / equity	0.68	0.68	0.78	1.4	6.5	-4.21	-4.9	-4.62	-4.36	-10.3	-0.09
Debt / assets	0.14	0.13	0.13	0.15	0.14	0.12	0.12	0.11	0.1	0.1	0.13
Net debt / EBITDA	1.3	1.42	1.12	1.96	0.74	1.16	0.47	0.57	0.3	0.63	0.84
Interest coverage	23.4	1.84	3.31	5.59	-22.2	11.8	19.7	16	17.4	26.1	24.5
Effective tax rate	23.4%	0%	58.4%	1.57%	0%	33%	19.5%	16.6%	20.1%	17.8%	17.9%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	898.3	1K	1.1K	1.3K	1.5K	1.7K	2K	2.3K	2.8K	3.3K	3.4K
EPS (basic)	22.9	0.32	0.17	4.98	-28.3	7.32	25.2	22.5	25.9	38.5	38.5
EPS (diluted)	22.7	0.32	0.17	4.95	-28.3	7.23	25	22.4	25.7	38.4	37.3
Book value per share	57	55.4	49.4	37.1	9	-11.8	-10.6	-12	-13.3	-6.75	-36.6
FCF per share	18.9	18.1	17.8	21.4	24.3	25.6	32.6	27.2	41	43.8	51.6
Cash per share	12.6	12.8	15.2	22.2	39.1	23.2	33.2	34.4	44.7	32.2	44.3
Capex per share	1.83	1.95	2.17	2	2.81	2.55	2.76	3.24	4.22	2.5	2.27

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	0.2%	0.19%	0.2%	0.16%	0.19%	0.15%	0.14%	0.14%	0.15%	0.08%	0.07%
Capex / operating cash flow	9.03%	19.1%	23%	-43.4%	14.8%	760.8%	26.6%	-38.6%	-20.1%	5.02%	3.95%
Payout ratio	4.91%	88.2%	114.5%	26.3%	-6.36%	21.5%	7.85%	9.94%	9.91%	7.47%	8.8%
Dividend yield	0.77%	0.89%	1.27%	1.2%	—	0.59%	0.58%	0.44%	0.4%	0.36%	0.44%

Yield

0.44%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.94

ex-dividend Sep 1, 2026

Payout ratio

of earnings

Dividend growth

19 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.94
Jun 1, 2026	$0.82
Mar 2, 2026	$0.82
Dec 1, 2025	$0.82
Sep 2, 2025	$0.82
Jun 2, 2025	$0.71
Mar 3, 2025	$0.71
Dec 2, 2024	$0.71

Split history

Date	Ratio
Jan 5, 1998	2:1

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$9.54	$9.93	+4.1%	—	$105.4B	—
Q4 26	$11.6	$11.7	+1.0%	—	$96.3B	—
Q3 26	$9.27	$9.34	+0.8%	—	$106.2B	—
Q2 26	$9.05	$9.86	+9.0%	—	$103.2B	—
Q1 26	$8.15	$8.26	+1.3%	—	$97.8B	—
Q4 25	$9.83	$10.1	+3.0%	—	$90.8B	—
Q3 25	$7.99	$8.03	+0.5%	—	$95.3B	—
Q2 25	$6.87	$7.07	+2.9%	—	$93.7B	—
Q1 25	$7.21	$7.88	+9.3%	—	$79.3B	—
Q4 24	$6.36	$6.18	-2.8%	—	$76.4B	—
Q3 24	$7.05	$7.74	+9.8%	—	$80.9B	—
Q2 24	$6.15	$6.23	+1.3%	—	$77.2B	—
Q1 24	$5.87	$7.27	+23.9%	—	$74.5B	—
Q4 23	$7.17	$7.19	+0.3%	—	$68.9B	—
Q3 23	$6.35	$6.9	+8.7%	—	$70.5B	—
Q2 23	$6.09	$6.06	-0.5%	—	$70.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$38.5	—	—	$403.4B	—
FY25	—	$25.9	—	—	$359.1B	—
FY24	—	$22.5	—	—	$309B	—
FY23	—	$25.2	—	—	$276.7B	—
FY22	—	$7.32	—	—	$264B	—
FY21	—	-$28.3	—	—	$238.2B	—
FY20	—	$4.98	—	—	$231.1B	—
FY19	—	$0.17	—	—	$214.3B	—
FY18	—	$0.32	—	—	$208.4B	—
FY17	—	$22.9	—	—	$198.5B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$198.5B	$208.4B	$214.3B	$231.1B	$238.2B	$264B	$276.7B	$309B	$359.1B	$403.4B
YoY change	+4.01%	+4.95%	+2.86%	+7.81%	+3.11%	+10.8%	+4.83%	+11.7%	+16.2%	+12.4%

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$77.2B	$80.9B	$76.4B	$79.3B	$93.7B	$95.3B	$90.8B	$97.8B	$103.2B	$106.2B	$96.3B	$105.4B
YoY change	+10.1%	+14.8%	+10.8%	+6.44%	+21.3%	+17.8%	+18.9%	+23.4%	+10.1%	+11.4%	+6.02%	+7.72%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	198.5B	208.4B	214.3B	231.1B	238.2B	264B	276.7B	309B	359.1B	403.4B
Cost of revenue	187.3B	197.2B	202.6B	219B	226.1B	250.8B	264.4B	296.1B	345.7B	388.9B
Gross profit	11.3B	11.2B	11.8B	12B	12.1B	13.1B	12.4B	12.8B	13.3B	14.6B
Gross margin	5.68%	5.37%	5.48%	5.2%	5.1%	4.97%	4.47%	4.15%	3.71%	3.61%
Research & development	341M	125M	71M	96M	—	—	—	—	—	—
Selling, general & administrative	7.4B	8.1B	8.4B	9.2B	8.8B	10.5B	7.8B	8.7B	8.5B	8.1B
Operating expenses	7.8B	8.3B	8.5B	9.3B	8.8B	10.5B	7.8B	8.7B	8.5B	8.1B
Operating income	3.5B	2.9B	3.3B	2.8B	3.3B	2.6B	4.6B	4.2B	4.8B	6.5B
Operating margin	1.75%	1.4%	1.55%	1.23%	1.38%	0.98%	1.66%	1.35%	1.34%	1.6%
Non-operating income, net	3.7B	-2.4B	-2.5B	-1.5B	-8.1B	-497M	189M	-248M	-365M	-185M
Pretax income	6.9B	239M	610M	1.1B	-5B	1.9B	4.6B	3.8B	4.4B	6.2B
Income tax	1.6B	-53M	356M	18M	-695M	636M	905M	629M	878M	1.1B
Net income	5.2B	297M	255M	1.1B	-4.3B	1.3B	3.7B	3.2B	3.5B	5.1B
Net margin	2.6%	0.14%	0.12%	0.48%	-1.82%	0.49%	1.35%	1.02%	0.97%	1.26%
EBITDA	4.4B	3.7B	4.1B	2.7B	4.2B	3.5B	5.6B	5B	5.6B	7.4B
EPS	22.9	0.32	0.17	4.98	-28.3	7.32	25.2	22.5	25.9	38.5
Diluted EPS	22.7	0.32	0.17	4.95	-28.3	7.23	25	22.4	25.7	38.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	77.2B	80.9B	76.4B	79.3B	93.7B	95.3B	90.8B	97.8B	103.2B	106.2B	96.3B	105.4B
Cost of revenue	74.1B	77.7B	72.8B	76.1B	90.4B	92B	87.2B	94.5B	99.6B	102.5B	92.3B	101.7B
Gross profit	3.1B	3.2B	3.6B	3.2B	3.2B	3.3B	3.6B	3.3B	3.5B	3.7B	4B	3.7B
Gross margin	3.97%	3.9%	4.7%	3.98%	3.47%	3.45%	4.01%	3.35%	3.43%	3.47%	4.2%	3.5%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.1B	2.5B	2.2B	2B	2.5B	2B	2B	2.2B	2.1B	2B	1.8B	2.3B
Operating expenses	2.1B	2.5B	2.2B	2B	2.5B	2B	2B	2.2B	2.1B	2B	1.8B	2.3B
Operating income	977M	646M	1.4B	1.2B	745M	1.3B	1.7B	1.1B	1.5B	1.7B	2.2B	1.4B
Operating margin	1.27%	0.8%	1.83%	1.45%	0.8%	1.32%	1.83%	1.11%	1.42%	1.56%	2.33%	1.35%
Non-operating income, net	—	30M	-264M	8M	-133M	37M	-277M	17M	1M	38M	-241M	-36M
Pretax income	916M	612M	1.2B	1.1B	534M	1.2B	1.5B	1.1B	1.4B	1.6B	2.1B	1.3B
Income tax	213M	-18M	340M	124M	247M	298M	209M	220M	232M	380M	270M	276M
Net income	703M	630M	830M	960M	287M	928M	1.3B	831M	1.2B	1.3B	1.9B	1B
Net margin	0.91%	0.78%	1.09%	1.21%	0.31%	0.97%	1.44%	0.85%	1.13%	1.18%	1.93%	0.98%
EBITDA	1.2B	839M	1.6B	1.4B	942M	1.5B	1.7B	1.3B	1.7B	1.9B	2.5B	1.7B
EPS	4.95	4.45	6.06	7.04	1.88	6.98	10.1	6.28	8.95	9.63	13.8	5.17
Diluted EPS	4.92	4.42	6.02	7	1.87	6.95	10	6.25	8.92	9.59	13.7	5.15

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	2.8B	2.7B	3B	4B	6.3B	3.5B	4.7B	4.6B	5.7B	4B
Receivables	14.6B	14.3B	14.9B	17.2B	17.1B	16.4B	17.2B	19.4B	22.3B	24.2B
Inventory	15.3B	16.3B	16.7B	16.7B	19.2B	18.7B	19.7B	21.1B	23B	24.2B
Total current assets	36.9B	37.1B	38.5B	42.2B	45.4B	46.2B	44.3B	48B	55.4B	57.2B
Property, plant & equipment	-1.3B	-1.3B	-1.6B	2.6B	2.9B	2.3B	2.4B	2.6B	2.9B	3.3B
Goodwill & intangibles	28.5B	30.1B	26.1B	25B	24.7B	23B	24.4B	24.5B	23B	30.8B
Total assets	61B	60.4B	59.7B	61.2B	65B	63.3B	62.3B	67.4B	75.1B	82.3B
Accounts payable	31B	32.2B	33.9B	37.2B	39B	38.1B	42.5B	47.1B	55.3B	60B
Short-term debt	1.2B	1.1B	330M	1.4B	1.1B	1.1B	1.3B	345M	1.4B	1.6B
Total current liabilities	35.6B	36.7B	37.6B	42.6B	44.1B	48.5B	48B	52.4B	61.6B	67B
Long-term debt	7.3B	6.8B	7.3B	8B	8.3B	6.4B	6B	7B	5.9B	7.1B
Total liabilities	48.4B	48.9B	50B	54.5B	63.6B	65.1B	63.8B	69B	76.8B	83.2B
Shareholders' equity	12.6B	11.5B	9.7B	6.7B	1.4B	-1.8B	-1.5B	-1.6B	-1.7B	-834M
Total debt	8.5B	7.9B	7.6B	9.4B	9.4B	7.5B	7.3B	7.4B	7.4B	8.6B
Net debt	5.8B	5.2B	4.6B	5.4B	3.1B	4B	2.6B	2.8B	1.7B	4.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	2.5B	2B	4.6B	2.3B	2.5B	1.1B	5.7B	2.4B	4B	3B	4B	5.2B
Receivables	22.5B	23.1B	19.4B	23.7B	25.3B	25.8B	22.3B	28.2B	28.3B	28.2B	24.2B	30.3B
Inventory	21.9B	22B	21.1B	25.6B	24.2B	23.8B	23B	25.1B	26.1B	27.1B	24.2B	26.3B
Total current assets	47.5B	47.6B	48B	52.3B	53.3B	51.7B	55.4B	56.8B	59.9B	59.7B	57.2B	62.8B
Property, plant & equipment	3.9B	3.9B	2.6B	4.1B	3.9B	4.2B	2.9B	4.7B	4.6B	4.7B	3.3B	4.6B
Goodwill & intangibles	24.2B	24.1B	24.5B	24.3B	23.3B	23B	23B	31.3B	31B	31B	30.8B	30.6B
Total assets	66.1B	66.5B	67.4B	71.7B	72.4B	71.1B	75.1B	81.3B	84.2B	84.2B	82.3B	88.3B
Accounts payable	46.8B	46.7B	47.1B	51.7B	53.3B	49.7B	55.3B	57.9B	60.9B	60.7B	60B	63.7B
Short-term debt	345M	562M	345M	347M	296M	3.8B	1.4B	1.5B	2B	1.4B	1.6B	1.6B
Total current liabilities	51.1B	51.7B	52.4B	56.4B	58.8B	58.6B	61.6B	64.3B	68B	68.1B	67B	70.4B
Long-term debt	7B	7B	7B	7B	6.9B	5.9B	5.9B	8.4B	7.8B	7.2B	7.1B	10.1B
Total liabilities	67.6B	68.2B	69B	73.1B	75.1B	73.8B	76.8B	82.2B	84.7B	84.3B	83.2B	89.6B
Shareholders' equity	-1.5B	-1.7B	-1.6B	-1.4B	-2.6B	-2.7B	-1.7B	-863M	-578M	-99M	-834M	-1.3B
Total debt	7.3B	7.6B	7.4B	7.4B	7.2B	9.8B	7.4B	9.9B	9.8B	8.6B	8.6B	11.7B
Net debt	4.8B	5.6B	2.8B	5.1B	4.7B	8.6B	1.7B	7.5B	5.8B	5.7B	4.6B	6.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	5.2B	297M	255M	1.1B	-4.3B	1.3B	3.7B	3.2B	3.5B	5.1B
Depreciation & amortization	910M	951M	949M	922M	887M	760M	608M	635M	636M	729M
Stock-based compensation	115M	69M	—	—	—	—	—	—	—	—
Change in working capital	1.3B	1.7B	546M	-3.3B	6.4B	-2.9B	-3.4B	-4.7B	-7.1B	-4.4B
Operating cash flow	4.5B	2.1B	1.8B	-834M	3B	51M	1.5B	-1.1B	-2.7B	6.2B
Capital expenditure	-404M	-405M	-426M	-362M	-451M	-388M	-390M	-431M	-537M	-309M
Investing cash flow	-3.1B	-2.8B	-1.3B	-435M	-225M	58M	-374M	-816M	-411M	-3B
Dividends paid	-253M	-262M	-292M	-294M	-276M	-277M	-292M	-314M	-345M	-381M
Share repurchases	-2.3B	-1.7B	-1.6B	-1.9B	-742M	-3.5B	-3.6B	-3B	-3.1B	-4.8B
Financing cash flow	-10.2B	-23.8B	-39.5B	-24.2B	-8B	-17.5B	-12.8B	-23.3B	-19.1B	-13.9B
Net change in cash	-8.8B	-24.5B	-38.9B	-25.4B	-5.2B	-17.4B	-11.7B	-25.2B	-22.1B	-10.7B
Free cash flow	4.2B	3.8B	3.5B	3.9B	3.9B	3.9B	4.6B	3.6B	5.2B	5.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	703M	630M	830M	960M	287M	928M	1.3B	831M	1.2B	1.3B	1.9B	1B
Depreciation & amortization	157M	159M	160M	169M	163M	153M	151M	157M	188M	188M	196M	195M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-2.7B	-1.2B	2.8B	-7.2B	-800M	-641M	1B	-4B	-2.2B	-732M	2.5B	-5.1B
Operating cash flow	-2.1B	-138M	3.7B	-5.9B	-29M	1.1B	2.2B	-918M	2.4B	1.2B	3.4B	-220M
Capital expenditure	-75M	-90M	-188M	-106M	-136M	-126M	-169M	-78M	-90M	-67M	-74M	-40M
Investing cash flow	-101M	-116M	-496M	-26M	-204M	-66M	-115M	-3.5B	82M	-161M	536M	-102M
Dividends paid	-75M	-83M	-82M	-82M	-80M	-92M	-91M	-90M	-89M	-101M	-101M	-102M
Share repurchases	-809M	-842M	-678M	-527M	-1.5B	-827M	-300M	-581M	-818M	-680M	-2.7B	-2.5B
Financing cash flow	-2.8B	-3.2B	-16.4B	-2.2B	-7.1B	-796M	-9B	1.2B	-3.2B	-2B	-9.8B	1.6B
Net change in cash	-5.1B	-3.4B	-13.2B	-8.1B	-7.3B	245M	-6.9B	-3.2B	-734M	-955M	-5.8B	1.3B
Free cash flow	825M	100M	3.9B	-1.5B	1.9B	-2.6B	7.5B	-1.1B	2.2B	1.1B	3.2B	-372M

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	32.8B	29.3B	22.9B	24.5B	—	46.6B	50.2B	71.5B	85.7B	107B	99.8B
Enterprise value	38.5B	34.5B	27.6B	29.9B	—	50.6B	52.9B	74.3B	87.4B	111.6B	110.6B
Shares outstanding	221M	208M	196M	181M	160.6M	152.3M	141.1M	133.2M	127.4M	123.6M	123.6M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	6.36	98.7	90	21.9	—	36.2	13.5	22.6	24.6	21	23.1
P/S	0.17	0.14	0.11	0.11	—	0.18	0.18	0.23	0.24	0.27	0.24
P/B	2.6	2.54	2.37	3.65	—	-26	-33.7	-44.7	-50.6	-128.2	-78.1
EV/EBITDA	8.68	9.38	6.67	10.9	—	14.6	9.48	15	15.7	15.1	15.6
EV/Sales	0.19	0.17	0.13	0.13	—	0.19	0.19	0.24	0.24	0.28	0.27
Earnings yield	15.7%	1.01%	1.11%	4.57%	—	2.76%	7.41%	4.42%	4.06%	4.77%	4.33%
FCF yield	12.8%	12.8%	15.2%	15.8%	—	8.36%	9.16%	5.07%	6.1%	5.06%	6.81%
PEG	—	—	—	—	—	—	—	—	—	—	-1.31

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	5.68%	5.37%	5.48%	5.2%	5.1%	4.97%	4.47%	4.15%	3.71%	3.61%	3.5%
Operating margin	1.75%	1.4%	1.55%	1.23%	1.38%	0.98%	1.66%	1.35%	1.34%	1.6%	1.35%
Net margin	2.6%	0.14%	0.12%	0.48%	-1.82%	0.49%	1.35%	1.02%	0.97%	1.26%	1.12%
ROE	40.9%	2.58%	2.63%	16.7%	-300.1%	-71.8%	-249.8%	-197.6%	-205.5%	-611.4%	-571%
ROA	8.45%	0.49%	0.43%	1.83%	-6.68%	2.03%	5.97%	4.69%	4.63%	6.19%	4.74%
ROIC	14.5%	17.5%	9.66%	23.1%	72.1%	78.3%	327.1%	288%	76.9K%	139.5%	106.5%
Return on tangible assets	15.9%	0.98%	0.76%	3.09%	-10.8%	3.2%	9.83%	7.36%	6.67%	9.89%	9.18%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	1.04	1.01	1.02	0.99	1.03	0.95	0.92	0.92	0.9	0.85	0.89
Quick ratio	0.61	0.57	0.58	0.6	0.59	0.57	0.51	0.51	0.53	0.49	0.52
Debt / equity	0.68	0.68	0.78	1.4	6.5	-4.21	-4.9	-4.62	-4.36	-10.3	-0.09
Debt / assets	0.14	0.13	0.13	0.15	0.14	0.12	0.12	0.11	0.1	0.1	0.13
Net debt / EBITDA	1.3	1.42	1.12	1.96	0.74	1.16	0.47	0.57	0.3	0.63	0.84
Interest coverage	23.4	1.84	3.31	5.59	-22.2	11.8	19.7	16	17.4	26.1	24.5
Effective tax rate	23.4%	0%	58.4%	1.57%	0%	33%	19.5%	16.6%	20.1%	17.8%	17.9%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	898.3	1K	1.1K	1.3K	1.5K	1.7K	2K	2.3K	2.8K	3.3K	3.4K
EPS (basic)	22.9	0.32	0.17	4.98	-28.3	7.32	25.2	22.5	25.9	38.5	38.5
EPS (diluted)	22.7	0.32	0.17	4.95	-28.3	7.23	25	22.4	25.7	38.4	37.3
Book value per share	57	55.4	49.4	37.1	9	-11.8	-10.6	-12	-13.3	-6.75	-36.6
FCF per share	18.9	18.1	17.8	21.4	24.3	25.6	32.6	27.2	41	43.8	51.6
Cash per share	12.6	12.8	15.2	22.2	39.1	23.2	33.2	34.4	44.7	32.2	44.3
Capex per share	1.83	1.95	2.17	2	2.81	2.55	2.76	3.24	4.22	2.5	2.27

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	0.2%	0.19%	0.2%	0.16%	0.19%	0.15%	0.14%	0.14%	0.15%	0.08%	0.07%
Capex / operating cash flow	9.03%	19.1%	23%	-43.4%	14.8%	760.8%	26.6%	-38.6%	-20.1%	5.02%	3.95%
Payout ratio	4.91%	88.2%	114.5%	26.3%	-6.36%	21.5%	7.85%	9.94%	9.91%	7.47%	8.8%
Dividend yield	0.77%	0.89%	1.27%	1.2%	—	0.59%	0.58%	0.44%	0.4%	0.36%	0.44%

Yield

0.44%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.94

ex-dividend Sep 1, 2026

Payout ratio

of earnings

Dividend growth

19 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.94
Jun 1, 2026	$0.82
Mar 2, 2026	$0.82
Dec 1, 2025	$0.82
Sep 2, 2025	$0.82
Jun 2, 2025	$0.71
Mar 3, 2025	$0.71
Dec 2, 2024	$0.71

Split history

Date	Ratio
Jan 5, 1998	2:1

McKesson Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

McKesson Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history