MCKMcKesson
- Employees
- 43,000
- Headquarters
- Irving, TX
- CEO
- Brian S. Tyler
- Next results
- around Feb 3, 2027
The biggest changes in the 10-K filed 2026-05-08, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Net income
+44.5% Big change FY to 2026-03-31 vs 2025-03-31“Other income, net increased for the year ended March 31, 2026 compared to the prior year primarily due to prior year charges of $87 million related to the termination of the U.K. pension plan, a prior year loss of $43 million related to one of our equity method investments, and a favorable year-over-year impact from interest income, partially offset by a prior year net gain of $101 million related to our investments in equity securities of certain U.S. growth stage companies in the healthcare industry.”
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“the Company’s net income increased by $1.6 billion and was impacted by lower net non-cash items of $836 million, compared to the prior year period driven by factors discussed in more detail in the “Overview of Consolidated Results” section of this Financial Review;”
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Revenue
+12.4% Big change FY to 2026-03-31 vs 2025-03-31“Revenues increased for the year ended March 31, 2026 compared to the prior year largely due to market growth in our North American Pharmaceutical segment, including higher volumes primarily from retail national account customers.”
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“Within the segment, sales to U.S. pharmacies and healthcare providers increased $31.6 billion primarily due to higher volumes from retail national account customers, partially offset by branded to generic drug conversions and branded pharmaceutical price decreases.”
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Operating margin
1.2% → 1.5% (+0.3 pts) FY to 2026-03-31 vs 2025-03-31“Operating profit for this segment increased for the year ended March 31, 2026 compared to the prior year primarily due to growth in specialty pharmaceuticals, including contributions from FY26 business acquisitions, a net gain of $51 million related to the sale of an investment and market decisions, and a prior year loss of $43 million related to one of our equity method investments, partially offset by an increase in operating expenses to support higher volumes.”
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“Operating profit increased for the year ended March 31, 2026 compared to the prior year primarily driven by higher demand for access solutions.”
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Cash from operations
+1.2% FY to 2026-03-31 vs 2025-03-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Gross margin
3.7% → 3.6% (-0.1 pts) FY to 2026-03-31 vs 2025-03-31“Gross profit increased for the year ended March 31, 2026 compared to the prior year primarily due to growth in our Oncology & Multispecialty segment, driven by the addition of providers in practice management and growth of specialty pharmaceuticals, and in our Prescription Technology Solutions segment driven by higher volumes.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
Work on MCK in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/MCK/export.csv") into a cell.