NYSE: MCK
McKesson
Health Care · Wholesale-Drugs, Proprietaries & Druggists' Sundries
52-week range
$723.68$1,030.27
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$88.1B
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| Period | Market cap |
|---|---|
| FY2017, ended Mar 31, 2017 | $31.3B |
| FY2018, ended Mar 31, 2018 | $28.5B |
| FY2019, ended Mar 31, 2019 | $22.2B |
| FY2020, ended Mar 31, 2020 | $21.9B |
| FY2021, ended Mar 31, 2021 | $30.9B |
| FY2022, ended Mar 31, 2022 | $44.5B |
| FY2023, ended Mar 31, 2023 | $48.3B |
| FY2024, ended Mar 31, 2024 | $69.8B |
| FY2025, ended Mar 31, 2025 | $84.2B |
| FY2026, ended Mar 31, 2026 | $104B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $88.1B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$411B
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| Period | Revenue |
|---|---|
| FY2017, ended Mar 31, 2017 | $199B |
| FY2018, ended Mar 31, 2018 | $208B |
| FY2019, ended Mar 31, 2019 | $214B |
| FY2020, ended Mar 31, 2020 | $231B |
| FY2021, ended Mar 31, 2021 | $238B |
| FY2022, ended Mar 31, 2022 | $264B |
| FY2023, ended Mar 31, 2023 | $277B |
| FY2024, ended Mar 31, 2024 | $309B |
| FY2025, ended Mar 31, 2025 | $359B |
| FY2026, ended Mar 31, 2026 | $403B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $411B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Mar 31, 2017 | $5.07B | $4.34B |
| FY2018, ended Mar 31, 2018 | $67.0M | $3.94B |
| FY2019, ended Mar 31, 2019 | $34.0M | $3.61B |
| FY2020, ended Mar 31, 2020 | $900M | $4.01B |
| FY2021, ended Mar 31, 2021 | −$4.54B | $4.09B |
| FY2022, ended Mar 31, 2022 | $1.11B | $4.05B |
| FY2023, ended Mar 31, 2023 | $3.56B | $4.77B |
| FY2024, ended Mar 31, 2024 | $3.00B | $3.88B |
| FY2025, ended Mar 31, 2025 | $3.29B | $5.55B |
| FY2026, ended Mar 31, 2026 | $4.76B | $5.72B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $4.59B | $6.42B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$5.16B
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Mar 31, 2017 | $2.78B |
| FY2018, ended Mar 31, 2018 | $2.67B |
| FY2019, ended Mar 31, 2019 | $2.98B |
| FY2020, ended Mar 31, 2020 | $4.01B |
| FY2021, ended Mar 31, 2021 | $6.28B |
| FY2022, ended Mar 31, 2022 | $3.53B |
| FY2023, ended Mar 31, 2023 | $4.68B |
| FY2024, ended Mar 31, 2024 | $4.58B |
| FY2025, ended Mar 31, 2025 | $5.69B |
| FY2026, ended Mar 31, 2026 | $3.98B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $5.16B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$9.73B
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| Period | Total debt |
|---|---|
| FY2017, ended Mar 31, 2017 | $8.54B |
| FY2018, ended Mar 31, 2018 | $7.88B |
| FY2019, ended Mar 31, 2019 | $7.59B |
| FY2020, ended Mar 31, 2020 | $7.39B |
| FY2021, ended Mar 31, 2021 | $7.15B |
| FY2022, ended Mar 31, 2022 | $5.88B |
| FY2023, ended Mar 31, 2023 | $5.59B |
| FY2024, ended Mar 31, 2024 | $5.63B |
| FY2025, ended Mar 31, 2025 | $5.65B |
| FY2026, ended Mar 31, 2026 | $6.53B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $9.73B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 44.7% since 2017.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.117M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended Mar 31, 2017 | 211M |
| FY2018, ended Mar 31, 2018 | 202M |
| FY2019, ended Mar 31, 2019 | 190M |
| FY2020, ended Mar 31, 2020 | 162M |
| FY2021, ended Mar 31, 2021 | 158M |
| FY2022, ended Mar 31, 2022 | 145M |
| FY2023, ended Mar 31, 2023 | 136M |
| FY2024, ended Mar 31, 2024 | 130M |
| FY2025, ended Mar 31, 2025 | 125M |
| FY2026, ended Mar 31, 2026 | 120M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | 117M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $6.70B more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2017, ended Mar 31, 2017 | $2.31B | $115M |
| FY2018, ended Mar 31, 2018 | $1.71B | $69.0M |
| FY2019, ended Mar 31, 2019 | $1.64B | $95.0M |
| FY2020, ended Mar 31, 2020 | $1.93B | $119M |
| FY2021, ended Mar 31, 2021 | $742M | $151M |
| FY2022, ended Mar 31, 2022 | $3.52B | $161M |
| FY2023, ended Mar 31, 2023 | $3.64B | $162M |
| FY2024, ended Mar 31, 2024 | $3.02B | $182M |
| FY2025, ended Mar 31, 2025 | $3.15B | $226M |
| FY2026, ended Mar 31, 2026 | $4.75B | $247M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $6.70B | — |
Revenue (TTM)
$411B
+8.8% YoY
Net income (TTM)
$4.59B
+45.1% YoY
Cash
$5.16B
+114% YoY
Total debt
$9.73B
+25.1% YoY
Valuation
At current price- Market Cap
- $116B
- P/E
- 25.3×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 0.3×
- Price / Book
- n/m. Market cap / shareholders' equity
- EV / EBITDA
- 17.7×
Growth
Trailing 12 months- Revenue (TTM)
- $411B
- Revenue Growth YoY
- 8.8%
- Revenue CAGR 3Y
- 13.4%
- Revenue CAGR 5Y
- 11.1%
- EPS Growth YoY
- 49.3%
- Net Income Growth YoY
- 45.1%
Profitability
Trailing 12 months- Gross Margin
- 3.6%
- Operating Margin
- 1.6%
- Net Margin
- 1.1%
- FCF Margin
- 1.6%
- Return on Equity
- n/m. Net income (TTM) / average equity
Earnings
Trailing 12 months- Net Income
- $4.59B
- EPS (diluted)
- $37.28
- EBITDA
- $6.82B
- Operating Income
- $6.50B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $5.16B
- Total Debt
- $9.73B
- Net Debt
- $4.57B
- Total Assets
- $88.3B
- Total Liabilities
- $92.2B
- Shareholders' Equity
- −$4.24B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $6.85B
- Capital Expenditure
- $437M
- Free Cash Flow
- $6.42B
Dividends and risk
Last 12 months- Dividend Yield
- 0.3%
- Dividend / Share
- $3.40
- Beta (5Y)
- 0.30
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 8.8% year over year, at $411B.
Note
Net margin of 1.1% over the last 12 months.
Note
Net debt of $4.57B is 0.7× EBITDA, a manageable load.
Note
Free cash flow of $6.42B, 1.6% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Mar 31, 2026 · filed May 8, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K62Nothing notable
62Nothing notable
10-K for the fiscal year ended Mar 31, 2025
Filed May 9, 2025 · Read the filing on EDGAR
- Revenue rose 16% to $359.1 billion and profit attributable to McKesson rose 10% to $3.3 billion, driven by U.S. drug distribution and specialty drugs.
- McKesson sold its Canadian Rexall and Well.ca businesses and took a $667 million charge on the sale; the International segment swung to a loss.
- It plans to spin off its Medical-Surgical unit and to buy 70% of Core Ventures, an oncology services business, for about $2.49 billion.
- It recovered $206 million of the Rite Aid write-off, but Rite Aid filed for bankruptcy again in May 2025. The opioid liability fell to $6.4 billion.
Business momentum
Improving
“For the year ended March 31, 2025 compared to the prior year, revenues increased by 16%, gross profit increased by 4%, total operating expenses were flat, and other income, net increased by $70 million.”
Outlook
Not discussed
Financial stress
Low
“At March 31, 2025, we were in compliance with all debt covenants, and believe we have the ability to continue to meet our debt covenants in the future.”
Tone against the previous report
More positive
Red flags
- Medium
Large write-down
“We recorded a charge of $667 million for the year ended March 31, 2025 in total operating expenses to remeasure the Canadian retail disposal group to fair value less costs to sell.”
- Minor
Other
“On May 5, 2025, Rite Aid filed a second voluntary petition under Chapter 11 of the Bankruptcy Code.”
Positives
Strong growth in U.S. drug distribution
“U.S. Pharmaceutical revenues for the year ended March 31, 2025 increased $49.0 billion or 18% compared to the prior year.”
Operating cash flow jumped to $6.1 billion
“Operating activities provided cash of $6.1 billion and $4.3 billion for the years ended March 31, 2025 and 2024, respectively.”
Higher shareholder returns
“We returned $3.5 billion of cash to shareholders during fiscal 2025 through $3.1 billion of common stock repurchases through open market transactions and $345 million of dividend payments.”
Concerns
Medical-Surgical profit fell 19%
“Operating profit decreased for the year ended March 31, 2025 compared to the prior year primarily due to higher restructuring charges recorded in fiscal 2025 and a decline in the contribution from our primary care business”
Shrinking gross margin
“Gross profit margin 3.71 % 4.15 % (44) bp”
Heavy dependence on CVS and a few large customers
“Sales to our largest customer, CVS Health Corporation (“CVS”), accounted for approximately 24% of our total consolidated revenues in fiscal 2025”
New risks since the previous report
Planned spin-off of the Medical-Surgical unit
“In May 2025, we announced our intention to separate this segment into an independent company.”
Large $2.49 billion oncology acquisition
New U.S. tariffs and trade retaliation
“recently imposed or announced U.S. tariffs, as well as any retaliatory tariffs or other trade restrictions imposed by other countries, might require us to incur substantial additional sourcing costs”
Rite Aid's second bankruptcy
“On May 5, 2025, Rite Aid filed a second voluntary petition under Chapter 11 of the Bankruptcy Code.”
Multi-year restructuring costing up to $700 million
“We anticipate total charges related to these initiatives of $650 million to $700 million”
Biggest risks named
- Opioid litigation and a $6.4 billion settlement liability
- Dependence on CVS and the ten largest customers
- Customer bankruptcies such as Rite Aid
- Tariffs and drug supply disruptions
- Carrying out the Medical-Surgical spin-off and large acquisitions
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | 0 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | −3.9 | |
| New risks | −2 | |
| Score | 62 | |
Written by AI (Claude Opus 5.5) from the report’s text. 14 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | May 8, 2026 | Pro | |||
| 10-K | May 9, 2025 | 62 | Improving | 1 medium1 minor | |
| 10-K | May 8, 2024 | 52 | Mixed | 1 medium | |
| 10-K | May 9, 2023 | 69 | Strong improvement | 1 minor | |
| 10-K | May 9, 2022 | 68 | Strong improvement | 1 medium1 minor | |
| 10-K | May 12, 2021 | 38 | Sharp deterioration | 1 medium1 minor | |
| 10-K | May 22, 2020 | 66 | Strong improvement | 1 medium1 minor | |
| 10-K | May 15, 2019 | 37 | Sharp deterioration | 1 medium1 minor | |
| 10-K | May 24, 2018 | 34 | Sharp deterioration | 2 medium | |
| 10-K | May 22, 2017 | 49 | Mixed | 1 medium1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2027 (period ended Jun 30, 2026), filed Aug 5, 2026. View filings on SEC EDGAR