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MCKMcKesson

Health care · Drug Wholesale · NYSE
MCK quote by TradingView
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FY2026 at a glance

Sales up 12.4%, free cash flow up to $5.7B

XBRL, from each 10-K
RevenueStatements ↓
$403.4B
from $359.1B in FY2025
FY2017FY2026
Net incomeStatements ↓
$4.8B
from $3.3B in FY2025
FY2017FY2026
Free cash flowStatements ↓
$5.7B
from $5.5B in FY2025
FY2017FY2026
EPS (diluted)Statements ↓
$38.38
from $25.72 in FY2025
FY2017FY2026
Operating marginStatements ↓
1.5%
from 1.2% in FY2025
FY2017FY2026
Total debtStatements ↓
$6.5B
from $5.7B in FY2025
FY2017FY2026
Price and key numbers

The latest figures

All key numbers (40, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)38.75Sales (ttm)418.8BNet income (ttm)4.7BSales growth+12.4%EPS growth+49.2%Sales Q/Q+7.6%
Free cash flow7.1BGross margin3.7%Oper. margin1.6%Net margin1.1%FCF margin1.7%ROEn/m
ROA5.1%R&D / sales-Dividend3.17Debt/Eqn/mCurr. ratio0.90Cash6.5B
Op. cash flow (ttm)7.5BEBITDA6.5BEBITDA margin1.6%Net debt2.7BQuick ratio0.57Interest cover25.15
Payout ratio8.3%Tax rate17.8%Stock pay / sales0.1%Shares out.115.5MShares Y/Y-3.1%Book / share-34.25
Cash / share56.54Sales / share3,627.25Asset turnover4.54Inventory turns16.06Days sales out.25Sales 3Y CAGR+13.4%
Sales 5Y CAGR+11.1%EPS 3Y CAGR+15.3%Employees43,000Sales / employee9.7M

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

MCK against Health care peers

Ten years, side by side → · All 60 →
GrowthProfitBalanceCleanInsiders
MCKPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 60 companies, the better end on the right. Hover a dot for the company.

Sales growth
+12.4%11th of 60 · median +7.1%
Net margin
1.1%51st of 60 · median 9.6%
Free cash flow margin
1.7%53rd of 56 · median 15.5%
MCK and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
MCK McKesson$418.8B +12.4%3.7%1.1%-1.7%-
UNH UnitedHealth Group$449.7B +11.8%88.3%3.5%15.3%5.1%0.71
CVS CVS Health$420.6B +7.8%44.2%2.6%13.7%3.7%0.75
COR Cencora$332.8B +9.3%4.0%0.8%86.0%1.2%3.93
CI Cigna$286.3B +11.2%20.7%2.1%13.8%-0.68
CAH Cardinal Health$257.8B +14.2%3.9%0.7%-1.9%-
Where each dollar goes

From $264.0B of sales to $1.1B of profit

FY2022, from the 10-K income statement
Revenue to Gross profit: $13.1BRevenue to Cost of revenue: $250.8BGross profit to Operating profit: $2.0BGross profit to Operating expenses: $11.1BOperating profit to Net profit: $1.1BOperating profit to Tax & other: $924.0M Revenue: $264.0B Revenue$264.0B +11% Y/Y Gross profit: $13.1B · 5% margin Gross profit$13.1B5% margin +8% Y/Y Cost of revenue: $250.8B · 95% of revenue Cost of revenue$250.8B95% of revenue Operating profit: $2.0B · 1% margin Operating profit$2.0B1% margin Operating expenses: $11.1B · 4% of revenue Operating expenses$11.1B4% of revenue Net profit: $1.1B · 0% margin Net profit$1.1B0% margin Tax & other: $924.0M · 0% of revenue Tax & other$924.0M0% of revenue

Swipe sideways for the whole flow →

From $276.7B of sales to $3.6B of profit

FY2023, from the 10-K income statement and revenue by segment
Medical Surgical Solutions to Revenue: $11.1BPrescription Technology Solutions to Revenue: $4.4BUS Pharmaceutical to Revenue: $240.6BInternational to Revenue: $20.6BRevenue to Gross profit: $12.4BRevenue to Cost of revenue: $264.4BGross profit to Operating profit: $4.4BGross profit to Operating expenses: $8.0BOperating profit to Net profit: $3.6BOperating profit to Tax: $821.0M Medical Surgical Solutions: $11.1B · 4% Medical Surgical Soluti…$11.1B4% Prescription Technology Solutions: $4.4B · 2% Prescription Technology…$4.4B2% US Pharmaceutical: $240.6B · 87% US Pharmaceutical$240.6B87% International: $20.6B · 7% International$20.6B7% Revenue: $276.7B Revenue$276.7B +5% Y/Y Gross profit: $12.4B · 4% margin Gross profit$12.4B4% margin −6% Y/Y Cost of revenue: $264.4B · 96% of revenue Cost of revenue$264.4B96% of revenue Operating profit: $4.4B · 2% margin Operating profit$4.4B2% margin +115% Y/Y Operating expenses: $8.0B · 3% of revenue Operating expenses$8.0B3% of revenue Net profit: $3.6B · 1% margin Net profit$3.6B1% margin +220% Y/Y Tax: $821.0M · 0% of revenue Tax$821.0M0% of revenue

Swipe sideways for the whole flow →

From $309.0B of sales to $3.0B of profit

FY2024, from the 10-K income statement
Revenue to Gross profit: $12.8BRevenue to Cost of revenue: $296.1BGross profit to Operating profit: $3.9BGross profit to Operating expenses: $8.9BOperating profit to Net profit: $3.0BOperating profit to Tax & other: $907.0M Revenue: $309.0B Revenue$309.0B +12% Y/Y Gross profit: $12.8B · 4% margin Gross profit$12.8B4% margin +4% Y/Y Cost of revenue: $296.1B · 96% of revenue Cost of revenue$296.1B96% of revenue Operating profit: $3.9B · 1% margin Operating profit$3.9B1% margin −11% Y/Y Operating expenses: $8.9B · 3% of revenue Operating expenses$8.9B3% of revenue Net profit: $3.0B · 1% margin Net profit$3.0B1% margin −16% Y/Y Tax & other: $907.0M · 0% of revenue Tax & other$907.0M0% of revenue

Swipe sideways for the whole flow →

From $359.1B of sales to $3.3B of profit

FY2025, from the 10-K income statement
Revenue to Gross profit: $13.3BRevenue to Cost of revenue: $345.7BGross profit to Operating profit: $4.4BGross profit to Operating expenses: $8.9BOperating profit to Net profit: $3.3BOperating profit to Tax & other: $1.1B Revenue: $359.1B Revenue$359.1B +16% Y/Y Gross profit: $13.3B · 4% margin Gross profit$13.3B4% margin +4% Y/Y Cost of revenue: $345.7B · 96% of revenue Cost of revenue$345.7B96% of revenue Operating profit: $4.4B · 1% margin Operating profit$4.4B1% margin +13% Y/Y Operating expenses: $8.9B · 2% of revenue Operating expenses$8.9B2% of revenue Net profit: $3.3B · 1% margin Net profit$3.3B1% margin +10% Y/Y Tax & other: $1.1B · 0% of revenue Tax & other$1.1B0% of revenue

Swipe sideways for the whole flow →

From $403.4B of sales to $4.8B of profit

FY2026, from the 10-K income statement and revenue by segment
North American Pharmaceutical to Revenue: $336.7BOncology And Multispecialty to Revenue: $48.4BMedical Surgical Solutions to Revenue: $11.5BPrescription Technology Solutions to Revenue: $5.8BRevenue to Gross profit: $14.6BRevenue to Cost of revenue: $388.9BGross profit to Operating profit: $6.2BGross profit to Operating expenses: $8.3BOperating profit to Net profit: $4.8BOperating profit to Tax & other: $1.4B North American Pharmaceutical: $336.7B · 84% North American Pharmace…$336.7B84% Oncology And Multispecialty: $48.4B · 12% Oncology And Multispeci…$48.4B12% Medical Surgical Solutions: $11.5B · 3% Medical Surgical Soluti…$11.5B3% Prescription Technology Solutions: $5.8B · 1% Prescription Technology…$5.8B1% Revenue: $403.4B Revenue$403.4B +12% Y/Y Gross profit: $14.6B · 4% margin Gross profit$14.6B4% margin +9% Y/Y Cost of revenue: $388.9B · 96% of revenue Cost of revenue$388.9B96% of revenue Operating profit: $6.2B · 2% margin Operating profit$6.2B2% margin +40% Y/Y Operating expenses: $8.3B · 2% of revenue Operating expenses$8.3B2% of revenue Net profit: $4.8B · 1% margin Net profit$4.8B1% margin +45% Y/Y Tax & other: $1.4B · 0% of revenue Tax & other$1.4B0% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2022
FY2023
FY2024
FY2025
FY2026
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

0 of 3
  • !
    Net margin below the peer median1.1% vs 9.6%
  • !
    Gross margin down over 5 years5.1% → 3.6%
  • !
    A profit in 9 of 10 years
Net margin, FY2017 to FY2026: 2.6% → 1.2%

Balance sheet

2 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 25.1× interest expense
  • !
    Equity below zeroDebt $9.2B, equity −$4.0B
  • !
    Current ratio below 1Current ratio 0.90
  • ✓
    Net debt under 3 years of free cash flow$2.7B net debt, 0.4 years
Debt / equity at each year end, FY2017 to FY2026: 0.77 → 1.45
What the debt is made of ↓

Cash and shareholders

4 of 4
  • ✓
    Free cash flow positive in every one of 10 years$5.7B last year
  • ✓
    Share count down over 5 years−22.7%
  • ✓
    Dividend per share up over 5 years$1.67 → $3.17
  • ✓
    Cash from operations above net income$6.2B vs $4.8B
Free cash flow, FY2017 to FY2026: 4.3B → 5.7B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$6.5B of principal due, schedule of Mar 31, 2026

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2017 to FY2026

Revenue 403.4B Net income 4.8B
FY2017 revenue 198.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-19-000009 FY2017 net income 5.1B · NetIncomeLoss, 0000927653-19-000009 198.5B FY2017 FY2018 revenue 208.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-20-000033 FY2018 net income 67.0M · NetIncomeLoss, 0000927653-20-000033 208.4B FY2018 FY2019 revenue 214.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-21-000039 FY2019 net income 34.0M · NetIncomeLoss, 0000927653-21-000039 214.3B FY2019 FY2020 revenue 231.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-22-000051 FY2020 net income 900.0M · NetIncomeLoss, 0000927653-22-000051 231.1B FY2020 FY2021 revenue 238.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-23-000038 FY2021 net income -4.5B · NetIncomeLoss, 0000927653-23-000038 238.2B FY2021 FY2022 revenue 264.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-24-000035 FY2022 net income 1.1B · NetIncomeLoss, 0000927653-24-000035 264.0B FY2022 FY2023 revenue 276.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-25-000036 FY2023 net income 3.6B · NetIncomeLoss, 0000927653-25-000036 276.7B FY2023 FY2024 revenue 309.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-26-000069 FY2024 net income 3.0B · NetIncomeLoss, 0000927653-26-000069 309.0B FY2024 FY2025 revenue 359.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-26-000069 FY2025 net income 3.3B · NetIncomeLoss, 0000927653-26-000069 359.1B FY2025 FY2026 revenue 403.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000927653-26-000069 FY2026 net income 4.8B · NetIncomeLoss, 0000927653-26-000069 403.4B FY2026

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

MCK's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue403.4B
FY2017: 198.5BFY2018: 208.4BFY2019: 214.3BFY2020: 231.1BFY2021: 238.2BFY2022: 264.0BFY2023: 276.7BFY2024: 309.0BFY2025: 359.1BFY2026: 403.4B FY2018FY2020FY2022FY2024FY2026
Net income4.8B
FY2017: 5.1BFY2018: 67.0MFY2019: 34.0MFY2020: 900.0MFY2021: -4.5BFY2022: 1.1BFY2023: 3.6BFY2024: 3.0BFY2025: 3.3BFY2026: 4.8B FY2018FY2020FY2022FY2024FY2026
Free cash flow5.7B
FY2017: 4.3BFY2018: 3.9BFY2019: 3.6BFY2020: 4.0BFY2021: 4.1BFY2022: 4.0BFY2023: 4.8BFY2024: 3.9BFY2025: 5.5BFY2026: 5.7B FY2018FY2020FY2022FY2024FY2026
EPS (diluted)38.38
FY2017: 22.73FY2018: 0.32FY2019: 0.17FY2020: 4.95FY2021: -28.26FY2022: 7.23FY2023: 25.03FY2024: 22.39FY2025: 25.72FY2026: 38.38 FY2018FY2020FY2022FY2024FY2026
Dividend per share3.17
FY2017: 1.12FY2018: 1.30FY2019: 1.51FY2020: 1.62FY2021: 1.67FY2022: 1.83FY2023: 2.09FY2024: 2.40FY2025: 2.75FY2026: 3.17 FY2018FY2020FY2022FY2024FY2026
Diluted shares124.1M
FY2017: 223.0MFY2018: 209.0MFY2019: 197.3MFY2020: 181.6MFY2021: 160.6MFY2022: 154.1MFY2023: 142.2MFY2024: 134.1MFY2025: 128.1MFY2026: 124.1M FY2018FY2020FY2022FY2024FY2026

The segments changed

10-K filed 2026-05-08

Compared with the 10-K of May 9, 2025: new segments North American Pharmaceutical, Oncology And Multispecialty; no longer reported: International, US Pharmaceutical.

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by business segment

year to Mar 31, 2026
RevenueSharevs year before
North American Pharmaceutical 336.7B83.4% +10.6%
Oncology And Multispecialty 48.4B12.0% +31.4%
Medical Surgical Solutions 11.5B2.9% +1.1%
Prescription Technology Solutions 5.8B1.4% +11.3%

10-K 0000927653-26-000069, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue198.5B208.4B214.3B231.1B238.2B264.0B276.7B309.0B359.1B403.4B
Cost of revenue187.3B197.2B202.6B219.0B226.1B250.8B264.4B296.1B345.7B388.9B
Gross profit11.3B11.2B11.8B12.0B12.1B13.1B12.4B12.8B13.3B14.6B
R&D341.0M125.0M71.0M96.0M------
SG&A7.4B8.1B8.4B9.2B8.8B10.5B7.8B8.7B8.5B8.1B
Operating income7.1B762.0M886.0M2.5B-5.0B2.0B4.4B3.9B4.4B6.2B
Interest expense315.0M283.0M264.0M249.0M217.0M178.0M248.0M252.0M265.0M247.0M
Pretax income6.9B239.0M610.0M1.1B-5.0B1.9B4.6B3.8B4.4B6.2B
Income tax1.6B-53.0M356.0M18.0M-695.0M636.0M905.0M629.0M878.0M1.1B
Net income5.1B67.0M34.0M900.0M-4.5B1.1B3.6B3.0B3.3B4.8B
EPS (diluted)22.730.320.174.95-28.267.2325.0322.3925.7238.38
Diluted shares223.0M209.0M197.3M181.6M160.6M154.1M142.2M134.1M128.1M124.1M
Depreciation & amortization910.0M951.0M317.0M335.0M344.0M312.0M272.0M279.0M272.0M287.0M
EBITDA8.0B1.7B1.2B2.8B-4.7B2.4B4.7B4.2B4.7B6.5B
Gross margin5.7%5.4%5.5%5.2%5.1%5.0%4.5%4.2%3.7%3.6%
Operating margin3.6%0.4%0.4%1.1%-2.1%0.8%1.6%1.3%1.2%1.5%
Net margin2.6%0.0%0.0%0.4%-1.9%0.4%1.3%1.0%0.9%1.2%
Revenue growth-+4.9%+2.9%+7.8%+3.1%+10.8%+4.8%+11.7%+16.2%+12.4%
EPS growth--98.6%-46.9%+2812%-671%-+246%-10.5%+14.9%+49.2%

Balance sheet

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash2.8B2.7B3.0B4.0B6.3B3.5B4.7B4.6B5.7B4.0B
Receivables18.2B17.7B18.2B19.9B19.2B18.6B19.4B21.6B25.6B28.0B
Inventory15.3B16.3B16.7B16.7B19.2B18.7B19.7B21.1B23.0B24.2B
Current assets36.9B37.1B38.5B42.2B45.4B46.2B44.3B48.0B55.4B57.2B
Property & equipment2.3B2.5B2.5B2.4B2.6B2.1B2.2B2.3B2.5B2.7B
Goodwill10.6B10.9B9.4B9.4B9.5B9.5B9.9B10.1B10.0B11.3B
Total assets61.0B60.4B59.7B61.2B65.0B63.3B62.3B67.4B75.1B82.3B
Accounts payable31.0B32.2B33.9B37.2B39.0B38.1B42.5B47.1B55.3B60.0B
Current liabilities35.6B36.7B37.6B42.6B44.1B48.5B48.0B52.4B61.6B67.0B
Total debt8.5B7.9B7.6B7.4B7.1B5.9B5.6B5.6B5.7B6.5B
Shareholders' equity11.1B9.8B8.1B5.1B-21.0M-2.3B-1.9B-2.0B-2.1B-2.2B
Retained earnings13.2B13.0B12.4B13.0B8.2B9.0B12.3B15.0B17.9B22.3B

Cash flow

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow4.7B4.3B4.0B4.4B4.5B4.4B5.2B4.3B6.1B6.2B
Capital spending404.0M405.0M426.0M362.0M451.0M388.0M390.0M431.0M537.0M436.0M
Free cash flow4.3B3.9B3.6B4.0B4.1B4.0B4.8B3.9B5.5B5.7B
Stock-based pay (added back)115.0M69.0M95.0M119.0M151.0M161.0M162.0M182.0M226.0M247.0M
Dividends paid253.0M262.0M292.0M294.0M276.0M277.0M292.0M314.0M345.0M381.0M
Buybacks2.3B1.7B1.6B1.9B742.0M3.5B3.6B3.0B3.1B4.8B
Acquisitions4.2B2.9B905.0M133.0M35.0M6.0M867.0M272.0M24.0M3.4B
Debt raised1.8B1.5B1.1B0500.0M498.0M997.0M991.0M498.0M2.0B
Debt repaid1.6B2.3B1.1B298.0M1.0B1.6B1.3B288.0M519.0M1.2B
Investing cash flow-3.3B-3.0B-1.4B-579.0M-415.0M-89.0M-542.0M-1.1B-733.0M-3.4B
Financing cash flow-2.1B-3.1B-2.2B-2.7B-1.7B-6.3B-4.4B-3.3B-4.0B-4.6B
Dividend per share1.121.301.511.621.671.832.092.402.753.17

Stock-based pay and leases

From EDGAR
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Stock-based pay (expense)115.0M69.0M95.0M119.0M151.0M161.0M162.0M182.0M226.0M247.0M
Stock-based pay / revenue0.1%0.0%0.0%0.1%0.1%0.1%0.1%0.1%0.1%0.1%
Operating lease cost---459.0M465.0M431.0M384.0M418.0M418.0M433.0M
Operating lease cash paid---377.0M362.0M356.0M338.0M339.0M404.0M270.0M
Finance lease principal paid---18.0M31.0M31.0M29.0M47.0M39.0M36.0M
Right-of-use assets--2.1B1.9B2.1B1.5B1.6B1.7B1.8B2.1B
Operating lease liabilities--2.2B2.0B2.3B1.7B1.7B1.8B1.7B2.1B
Finance lease liabilities---166.0M228.0M210.0M202.0M193.0M195.0M189.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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