NYSE : MCK
McKesson Corporation — Financial statements
Healthcare · Medical Distribution · United States
Last price 980.88 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 114.36B
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Financial statements
McKesson Corporation (MCK) reported revenue of 410.98B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 410.98B | 403.43B | 359.05B | 308.95B | 276.71B | 263.97B |
| Cost of Revenue | 396.05B | 388.90B | 346.11B | 296.37B | 264.48B | 250.88B |
| Gross Profit | 14.93B | 14.53B | 12.94B | 12.58B | 12.23B | 13.08B |
| Selling, General & Admin | 8.50B | 8.24B | 8.00B | 8.01B | 7.91B | 8.94B |
| Operating Expenses | 8.50B | 8.24B | 8.00B | 8.01B | 7.91B | 8.94B |
| Operating Income | 6.44B | 6.29B | 4.94B | 4.57B | 4.32B | 4.15B |
| Interest Expense | -275.00M | -247.00M | -265.00M | -252.00M | -248.00M | -178.00M |
| Interest & Investment Income | 179.00M | 179.00M | 173.00M | 118.00M | 107.00M | 10.00M |
| Earnings From Equity Investments | 7.00M | 7.00M | 9.00M | 4.00M | 5.00M | 43.00M |
| Other Non Operating Income (Expenses) | 46.00M | 44.00M | 49.00M | 34.00M | 194.00M | 66.00M |
| EBT Excluding Unusual Items | 6.39B | 6.27B | 4.91B | 4.48B | 4.37B | 4.09B |
| Merger & Restructuring Charges | -401.00M | -312.00M | -246.00M | -72.00M | -137.00M | -106.00M |
| Gain (Loss) on Sale of Investments | 6.00M | 6.00M | 58.00M | -24.00M | 106.00M | 140.00M |
| Gain (Loss) on Sale of Assets | 316.00M | 316.00M | -715.00M | -1.60B | ||
| Asset Writedown | -29.00M | -29.00M | -98.00M | -43.00M | -72.00M | -175.00M |
| Legal Settlements | 60.00M | 26.00M | 336.00M | 97.00M | 137.00M | -228.00M |
| Other Unusual Items | 112.00M | -77.00M | 119.00M | -647.00M | 223.00M | -191.00M |
| Pretax Income | 6.46B | 6.20B | 4.36B | 3.79B | 4.63B | 1.93B |
| Income Tax Expense | 1.16B | 1.10B | 878.00M | 629.00M | 905.00M | 636.00M |
| Earnings From Continuing Operations | 5.30B | 5.10B | 3.48B | 3.16B | 3.73B | 1.29B |
| Earnings From Discontinued Operations | -3.00M | -5.00M | ||||
| Net Income to Company | 5.30B | 5.10B | 3.48B | 3.16B | 3.72B | 1.29B |
| Minority Interest in Earnings | -708.00M | -337.00M | -186.00M | -158.00M | -162.00M | -173.00M |
| Net Income | 4.59B | 4.76B | 3.29B | 3.00B | 3.56B | 1.11B |
| Net Income to Common | 4.59B | 4.76B | 3.29B | 3.00B | 3.56B | 1.11B |
| Shares Outstanding (Basic) | 122.05M | 123.60M | 127.40M | 133.20M | 141.10M | 152.30M |
| Shares Outstanding (Diluted) | 122.53M | 124.10M | 128.10M | 134.10M | 142.20M | 154.10M |
| EPS (Basic) | 37.62 | 38.53 | 25.86 | 22.54 | 25.23 | 7.31 |
| EPS (Diluted) | 37.48 | 38.38 | 25.72 | 22.39 | 25.03 | 7.23 |
| Free Cash Flow | 6.42B | 5.72B | 5.55B | 3.88B | 4.77B | 4.05B |
| Free Cash Flow Per Share | 52.37 | 46.08 | 43.31 | 28.96 | 33.54 | 26.26 |
| Dividend Per Share | 3.28 | 3.17 | 2.75 | 2.40 | 2.09 | 1.83 |
| Gross Margin | 3.63% | 3.60% | 3.60% | 4.07% | 4.42% | 4.96% |
| Operating Margin | 1.57% | 1.56% | 1.38% | 1.48% | 1.56% | 1.57% |
| Profit Margin | 1.12% | 1.18% | 0.92% | 0.97% | 1.29% | 0.42% |
| Free Cash Flow Margin | 1.56% | 1.42% | 1.54% | 1.26% | 1.72% | 1.53% |
| EBITDA | 7.07B | 6.88B | 5.47B | 5.13B | 4.82B | 4.79B |
| EBITDA Margin | 1.72% | 1.71% | 1.52% | 1.66% | 1.74% | 1.81% |
| D&A For EBITDA | 634.00M | 596.00M | 531.00M | 559.00M | 507.00M | 644.00M |
| EBIT | 6.44B | 6.29B | 4.94B | 4.57B | 4.32B | 4.15B |
| EBIT Margin | 1.57% | 1.56% | 1.38% | 1.48% | 1.56% | 1.57% |
| Effective Tax Rate | 17.93% | 17.77% | 20.14% | 16.60% | 19.55% | 32.99% |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 5.16B | 3.98B | 5.69B | 4.58B | 4.68B | 3.53B |
| Trading Asset Securities | 31.00M | |||||
| Cash & Short-Term Investments | 5.16B | 3.98B | 5.69B | 4.58B | 4.68B | 3.56B |
| Accounts Receivable | 30.32B | 23.99B | 21.78B | 18.52B | 17.00B | 16.29B |
| Other Receivables | 4.00B | 3.86B | 3.10B | 2.41B | 2.29B | |
| Receivables | 30.32B | 27.98B | 25.64B | 21.62B | 19.41B | 18.58B |
| Inventory | 26.26B | 24.21B | 23.00B | 21.14B | 19.69B | 18.70B |
| Prepaid Expenses | 936.00M | 874.00M | 743.00M | 611.00M | 507.00M | 434.00M |
| Restricted Cash | 92.00M | 93.00M | 265.00M | 2.00M | 1.00M | 403.00M |
| Other Current Assets | 70.00M | 76.00M | 55.00M | 13.00M | 5.00M | 4.55B |
| Total Current Assets | 62.84B | 57.21B | 55.40B | 47.97B | 44.29B | 46.23B |
| Property, Plant & Equipment | 4.62B | 4.73B | 4.28B | 4.04B | 3.81B | 3.64B |
| Long-Term Investments | 243.00M | 227.00M | 103.00M | 240.00M | 238.00M | 346.00M |
| Goodwill | 11.28B | 11.32B | 10.02B | 10.13B | 9.95B | 9.45B |
| Other Intangible Assets | 4.01B | 4.84B | 2.15B | 2.60B | 2.63B | 2.38B |
| Other Long-Term Assets | 5.33B | 4.00B | 3.19B | 2.45B | 1.40B | 1.25B |
| Total Assets | 88.33B | 82.32B | 75.14B | 67.44B | 62.32B | 63.30B |
| Accounts Payable | 63.73B | 59.97B | 55.33B | 47.10B | 42.49B | 38.09B |
| Accrued Expenses | 4.30B | 4.70B | 3.95B | 4.21B | 3.48B | 3.40B |
| Current Portion of Long-Term Debt | 1.38B | 1.39B | 1.16B | 21.00M | 940.00M | 813.00M |
| Current Portion of Leases | 292.00M | 324.00M | 290.00M | 325.00M | 328.00M | 322.00M |
| Other Current Liabilities | 653.00M | 631.00M | 879.00M | 703.00M | 724.00M | 5.84B |
| Total Current Liabilities | 70.36B | 67.02B | 61.60B | 52.36B | 47.96B | 48.47B |
| Long-Term Debt | 8.28B | 5.12B | 4.34B | 5.45B | 4.47B | 4.93B |
| Long-Term Leases | 1.84B | 1.95B | 1.64B | 1.63B | 1.57B | 1.55B |
| Long-Term Deferred Tax Liabilities | 1.36B | 1.33B | 1.03B | 917.00M | 1.39B | 1.42B |
| Other Long-Term Liabilities | 7.78B | 7.74B | 8.22B | 8.69B | 8.42B | 8.72B |
| Total Liabilities | 89.63B | 83.16B | 76.83B | 69.04B | 63.81B | 65.09B |
| Common Stock | 3.00M | 3.00M | 3.00M | 3.00M | 3.00M | 2.00M |
| Additional Paid-In Capital | 8.59B | 8.28B | 8.37B | 8.05B | 7.75B | 7.28B |
| Retained Earnings | 22.81B | 22.29B | 17.92B | 14.98B | 12.29B | 9.03B |
| Treasury Stock | -34.89B | -32.01B | -27.44B | -24.12B | -21.00B | -17.05B |
| Comprehensive Income & Other | -749.00M | -745.00M | -932.00M | -881.00M | -905.00M | -1.53B |
| Total Common Equity | -4.24B | -2.17B | -2.07B | -1.97B | -1.86B | -2.27B |
| Minority Interest | 2.94B | 1.34B | 380.00M | 372.00M | 367.00M | 480.00M |
| Shareholders' Equity | -1.30B | -834.00M | -1.69B | -1.60B | -1.49B | -1.79B |
| Total Liabilities & Equity | 88.33B | 82.32B | 75.14B | 67.44B | 62.32B | 63.30B |
| Total Debt | 11.80B | 8.79B | 7.43B | 7.43B | 7.31B | 7.62B |
| Net Cash (Debt) | -6.63B | -4.81B | -1.74B | -2.84B | -2.63B | -4.05B |
| Net Cash Per Share | -54.13 | -38.77 | -13.59 | -21.20 | -18.53 | -26.31 |
| Filing Date Shares Outstanding | 116.59M | 120.20M | 125.11M | 129.99M | 135.60M | 145.37M |
| Total Common Shares Outstanding | 116.00M | 120.00M | 125.00M | 130.00M | 136.00M | 145.00M |
| Working Capital | -7.52B | -9.81B | -6.21B | -4.39B | -3.67B | -2.23B |
| Book Value Per Share | -36.55 | -18.10 | -16.59 | -15.16 | -13.65 | -15.67 |
| Tangible Book Value | -19.53B | -18.33B | -14.24B | -14.71B | -14.43B | -14.10B |
| Tangible Book Value Per Share | -168.37 | -152.76 | -113.93 | -113.14 | -106.13 | -97.26 |
| Land | 102.00M | 104.00M | 109.00M | 109.00M | 104.00M | |
| Buildings | 1.45B | 1.43B | 1.48B | 1.41B | 1.33B | |
| Machinery | 3.15B | 2.77B | 2.75B | 2.60B | 2.34B | |
| Construction In Progress | 578.00M | 722.00M | 441.00M | 283.00M | 313.00M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 4.59B | 4.76B | 3.29B | 3.00B | 3.56B | 1.11B |
| Depreciation & Amortization | 634.00M | 596.00M | 531.00M | 559.00M | 507.00M | 644.00M |
| Other Amortization | 164.00M | 164.00M | 135.00M | 102.00M | 101.00M | 116.00M |
| Loss (Gain) From Sale of Assets | -596.00M | -573.00M | 485.00M | -17.00M | -211.00M | -132.00M |
| Asset Writedown & Restructuring Costs | 100.00M | 55.00M | 98.00M | 43.00M | 72.00M | 175.00M |
| Provision & Write-off of Bad Debts | -51.00M | 100.00M | -130.00M | 819.00M | 45.00M | 29.00M |
| Other Operating Activities | 1.31B | 889.00M | 797.00M | -167.00M | 645.00M | 2.41B |
| Change in Accounts Receivable | -2.28B | -2.00B | -3.94B | -2.95B | -1.08B | -1.84B |
| Change in Inventory | -1.19B | -1.08B | -2.27B | -1.29B | -1.26B | -1.17B |
| Change in Accounts Payable | 6.14B | 4.32B | 8.30B | 4.59B | 3.79B | 2.80B |
| Change in Income Taxes | -1.01B | -339.00M | -136.00M | 331.00M | 363.00M | 243.00M |
| Change in Other Net Operating Assets | -960.00M | -735.00M | -1.09B | -697.00M | -1.37B | 49.00M |
| Operating Cash Flow | 6.85B | 6.16B | 6.08B | 4.31B | 5.16B | 4.43B |
| Capital Expenditures | -437.00M | -436.00M | -537.00M | -431.00M | -390.00M | -388.00M |
| Cash Acquisitions | -80.00M | -3.42B | -24.00M | -272.00M | -867.00M | -6.00M |
| Divestitures | 835.00M | 830.00M | 179.00M | 47.00M | 1.08B | 578.00M |
| Sale (Purchase) of Intangibles | -271.00M | -309.00M | -322.00M | -256.00M | -168.00M | -147.00M |
| Other Investing Activities | -129.00M | -101.00M | -29.00M | -160.00M | -194.00M | -126.00M |
| Investing Cash Flow | -82.00M | -3.43B | -733.00M | -1.07B | -542.00M | -89.00M |
| Short-Term Debt Issued | 9.25B | 15.09B | 19.96B | 8.45B | 11.19B | |
| Long-Term Debt Issued | 1.99B | 498.00M | 991.00M | 997.00M | 498.00M | |
| Total Debt Issued | 12.46B | 11.24B | 15.58B | 20.95B | 9.45B | 11.69B |
| Short-Term Debt Repaid | -9.25B | -15.09B | -20.61B | -8.45B | -11.19B | |
| Long-Term Debt Repaid | -1.21B | -519.00M | -288.00M | -1.27B | -1.65B | |
| Total Debt Repaid | -10.46B | -10.45B | -15.61B | -20.90B | -9.72B | -12.84B |
| Net Debt Issued (Repaid) | 2.01B | 783.00M | -21.00M | 56.00M | -277.00M | -1.15B |
| Issuance of Common Stock | 90.00M | 89.00M | 101.00M | 116.00M | 163.00M | 220.00M |
| Repurchase of Common Stock | -6.70B | -4.75B | -3.15B | -3.02B | -3.64B | -3.52B |
| Common Dividends Paid | -393.00M | -381.00M | -345.00M | -314.00M | -292.00M | -277.00M |
| Other Financing Activities | 820.00M | -372.00M | -554.00M | -175.00M | -324.00M | -1.60B |
| Financing Cash Flow | -4.17B | -4.63B | -3.96B | -3.34B | -4.37B | -6.32B |
| Foreign Exchange Rate Adjustments | -23.00M | 20.00M | -16.00M | 6.00M | 25.00M | 55.00M |
| Miscellaneous Cash Flow Adjustments | 470.00M | -540.00M | ||||
| Net Cash Flow | 2.57B | -1.89B | 1.37B | -94.00M | 744.00M | -2.46B |
| Free Cash Flow | 6.42B | 5.72B | 5.55B | 3.88B | 4.77B | 4.05B |
| Free Cash Flow Margin | 1.56% | 1.42% | 1.54% | 1.26% | 1.72% | 1.53% |
| Free Cash Flow Per Share | 52.37 | 46.08 | 43.31 | 28.96 | 33.54 | 26.26 |
| Levered Free Cash Flow | 6.80B | 5.66B | 4.78B | 4.41B | 5.17B | 3.72B |
| Unlevered Free Cash Flow | 6.97B | 5.81B | 4.94B | 4.56B | 5.32B | 3.83B |
| Cash Income Tax Paid | 1.21B | 1.21B | 1.12B | 901.00M | 562.00M | 359.00M |
| Change in Working Capital | 703.00M | 162.00M | 874.00M | -27.00M | 440.00M | 82.00M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 115.96B | 106.00B | 84.34B | 70.55B | 48.76B | 45.86B |
| Enterprise Value | 122.59B | 112.97B | 93.38B | 76.58B | 54.57B | 51.69B |
| Last Close Price | 994.58 | 863.49 | 668.89 | 531.13 | 350.35 | 299.48 |
| PE Ratio | 26.53 | 22.26 | 25.60 | 23.50 | 13.70 | 41.16 |
| Forward PE | 21.37 | 19.99 | 18.47 | 18.47 | 13.59 | 13.44 |
| PS Ratio | 0.28 | 0.26 | 0.23 | 0.23 | 0.18 | 0.17 |
| PB Ratio | -127.09 | -49.79 | -44.12 | -32.72 | -25.59 | |
| P/FCF Ratio | 18.07 | 18.53 | 15.20 | 18.17 | 10.22 | 11.33 |
| P/OCF Ratio | 16.92 | 17.22 | 13.86 | 16.35 | 9.45 | 10.34 |
| PEG Ratio | 1.68 | 1.34 | 1.31 | 1.82 | 1.10 | 1.13 |
| EV/Sales Ratio | 0.30 | 0.28 | 0.26 | 0.25 | 0.20 | 0.20 |
| EV/EBITDA Ratio | 17.34 | 16.41 | 17.07 | 14.92 | 11.32 | 10.79 |
| EV/EBIT Ratio | 19.04 | 17.97 | 18.91 | 16.74 | 12.65 | 12.46 |
| EV/FCF Ratio | 19.11 | 19.75 | 16.83 | 19.72 | 11.44 | 12.78 |
| Debt / Equity Ratio | -9.07 | -10.54 | -4.39 | -4.64 | -4.91 | -4.25 |
| Debt / EBITDA Ratio | 1.55 | 1.18 | 1.24 | 1.31 | 1.37 | 1.42 |
| Debt / FCF Ratio | 1.84 | 1.54 | 1.34 | 1.91 | 1.53 | 1.88 |
| Net Debt / Equity Ratio | -5.10 | -5.77 | -1.03 | -1.78 | -1.77 | -2.26 |
| Net Debt / EBITDA Ratio | 0.94 | 0.70 | 0.32 | 0.55 | 0.55 | 0.85 |
| Net Debt / FCF Ratio | 1.03 | 0.84 | 0.31 | 0.73 | 0.55 | 1.00 |
| Asset Turnover | 4.84 | 5.12 | 5.04 | 4.76 | 4.41 | 4.11 |
| Inventory Turnover | 15.43 | 16.48 | 15.68 | 14.52 | 13.78 | 13.22 |
| Quick Ratio | 0.50 | 0.48 | 0.51 | 0.50 | 0.50 | 0.46 |
| Current Ratio | 0.89 | 0.85 | 0.90 | 0.92 | 0.92 | 0.95 |
| Return on Assets (ROA) | 4.74% | 4.99% | 4.33% | 4.41% | 4.29% | 4.04% |
| Return on Invested Capital (ROIC) | 31.75% | 35.85% | 27.56% | 25.91% | 23.78% | 28.43% |
| Return on Capital Employed (ROCE) | 35.80% | 41.10% | 36.50% | 30.30% | 30.00% | 28.00% |
| Earnings Yield | 3.77% | 4.49% | 3.91% | 4.25% | 7.30% | 2.43% |
| FCF Yield | 5.53% | 5.39% | 6.58% | 5.50% | 9.78% | 8.82% |
| Dividend Yield | 0.38% | 0.36% | 0.41% | 0.44% | 0.58% | 0.58% |
| Payout Ratio | 10.03% | 8.00% | 10.47% | 10.46% | 8.20% | 24.87% |
| Buyback Yield / Dilution | 3.37% | 3.12% | 4.47% | 5.70% | 7.72% | 4.05% |
| Total Shareholder Return | 3.75% | 3.48% | 4.88% | 6.14% | 8.30% | 4.63% |