Is McKesson financially healthy?

On 30 September 2026 McKesson held 6.53B USD in cash and short-term investments against total debt of 11.16B USD. Its current ratio is 0.90: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 6.91B USD of free cash flow.

McKesson's revenue grew 11.1% a year over its last five fiscal years, from 238.23B USD in fiscal year 2021 to 403.43B USD in fiscal year 2026. Over the last twelve months it was up 8.2% on the twelve months before.

Where can I find McKesson's annual report (10-K)?

McKesson files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

McKesson
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MCK

Arincen ScoreBeta73/100

73/100B

1,085.80

USD

26.55

(2.51%)

Market Closed

Last updated: 10 Nov, 15:59 GMT-5 · Delayed 15 min

Fair value935.50Plus+16%589Price 1,085.801,311

Q3 FY2027 · Earnings report

EPS estimate 10.94Revenue estimate 113.63B

Q3 FY2027 · Earnings report

Wednesday 3 February

EPS estimate 10.94Revenue estimate 113.63B

Fair value935.50Plus+16%589Price 1,085.801,311

Q3 FY2027 · Earnings report

EPS estimate 10.94Revenue estimate 113.63B

Q3 FY2027 · Earnings report

Wednesday 3 February

EPS estimate 10.94Revenue estimate 113.63B

Overview Financials Forecast Earnings Dividends Company

McKesson financials

Yes. McKesson earned 4.70B USD of net income over the last twelve months, 1.1% of its revenue. It made a profit in 29 of its 32 fiscal years since 1995. Its last loss was in fiscal year 2021.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 418.79B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 4.70B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 6.91B USD
Cash and short-term investments: 6.53B USD
Total debt: 11.16B USD
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: -3.95B USD

Cash, debt and equity as of 30 Sept 2026.

McKesson earnings

Next earnings · Q3 FY2027

3 Feb 2027

EPS estimate

10.94 USD

Revenue estimate

113.63B USD

Last quarter · Q2 FY2027

EPS11.68Beat +9.0%Revenue110.96BBeat +1.0%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q3 FY2028	—	12.67	—	—	+15.84%	119.62B	—	—	+5.27%
Q2 FY2028	—	12.70	—	—	+8.77%	116.24B	—	—	+4.76%
Q1 FY2028	—	11.57	—	—	+16.50%	112.01B	—	—	+6.29%
Q3 FY2027	3 Feb 2027	10.94	—	—	+17.13%	113.63B	—	—	+7.04%
Q2 FY2027	4 Nov 2026	10.72	11.68	+8.96%	+18.46%	109.90B	110.96B	+0.97%	+7.57%
Q1 FY2027	5 Aug 2026	9.56	9.93	+3.87%	+20.22%	103.88B	105.38B	+1.45%	+7.72%
Q4 FY2026	7 May 2026	11.56	11.69	+1.12%	+15.51%	101.35B	96.30B	-4.98%	+6.02%
Q3 FY2026	4 Feb 2026	9.17	9.34	+1.85%	+16.31%	105.80B	106.16B	+0.34%	+11.40%
Q2 FY2026	5 Nov 2025	9.03	9.86	+9.19%	+39.46%	104.14B	103.15B	-0.95%	+10.14%
Q1 FY2026	6 Aug 2025	8.14	8.26	+1.47%	+4.82%	96.18B	97.83B	+1.71%	+23.39%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2029	58.54	—	—	+13.96%	494.01B	—	—	+6.73%
FY2028	51.37	—	—	+13.76%	462.87B	—	—	+6.83%
FY2027	45.16	—	—	+15.34%	433.28B	—	—	+7.40%
FY2026	39.01	39.15	+0.36%	+18.28%	408.47B	403.43B	-1.24%	+12.36%
FY2025	32.78	33.10	+0.97%	+20.71%	362.56B	359.05B	-0.97%	+16.22%
FY2024	27.61	27.42	-0.69%	+5.54%	311.92B	308.95B	-0.95%	+11.65%
FY2023	25.96	25.98	+0.09%	+9.67%	275.91B	276.71B	+0.29%	+4.83%

McKesson growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 418.79B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 4.70B USD
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 3.67%
Operating margin: 1.62%
Net margin: 1.12%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2026	403.43B	+12.36%	4.76B	+44.52%	3.61%	1.60%	1.18%	7.18B	+36.68%
FY2025	359.05B	+16.22%	3.30B	+9.76%	3.48%	1.22%	0.92%	5.25B	+12.51%
FY2024	308.95B	+11.65%	3.00B	-15.67%	3.95%	1.27%	0.97%	4.67B	-14.93%
FY2023	276.71B	+4.83%	3.56B	+219.57%	4.29%	1.61%	1.29%	5.49B	+91.42%
FY2022	263.97B	+10.80%	1.11B	—	4.79%	1.03%	0.42%	2.87B	—

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q2 FY2027	110.96B	1.22B	3.57%	1.45%	1.10%
Q1 FY2027	105.38B	614.00M	3.50%	1.25%	0.58%
Q4 FY2026	96.30B	1.68B	4.20%	2.33%	1.75%
Q3 FY2026	106.16B	1.19B	3.47%	1.53%	1.12%
Q2 FY2026	103.15B	1.11B	3.43%	1.42%	1.08%

How McKesson makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

North American Pharmaceutical336.65B 83.4%

Oncology And Multispecialty48.42B 12.0%

Medical-Surgical Solutions11.51B 2.9%

Prescription Technology Solutions5.81B 1.4%

Other1.04B 0.3%

Revenue403.43B 100.0%

Cost of revenue388.88B 96.4%

Gross profit14.55B 3.6%

Research and development103.00M 0.0%

Other operating expenses7.99B 2.0%

Operating income6.45B 1.6%

Tax1.10B 0.3%

Other expense590.00M 0.1%

Net income4.76B 1.2%

FY2026, in USD. Each band is as wide as its money; the percentage is its share of revenue.

McKesson revenue breakdown

By product

FY2026

83.4%North American Pharmaceutical12.0%Oncology And Multispecialty2.9%Medical-Surgical Solutions1.4%Prescription Technology Solutions

Segment	Revenue	Share of revenue	Change on the year
North American Pharmaceutical	336.65B	83.4%	—
Oncology And Multispecialty	48.42B	12.0%	—
Medical-Surgical Solutions	11.51B	2.9%	+1.1%
Prescription Technology Solutions	5.81B	1.4%	+11.3%
Other	1.04B	0.3%	—

By region

FY2020

83.4%United States16.6%International

Region	Revenue	Share of revenue	Change on the year
United States	192.71B	83.4%	+9.3%
International	38.34B	16.6%	+0.8%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2026	6.16B	5.41B
FY2025	6.09B	5.23B
FY2024	4.31B	3.63B
FY2023	5.16B	4.60B
FY2022	4.43B	3.90B
FY2021	4.54B	3.90B
FY2020	4.37B	3.87B
FY2019	4.04B	3.48B
FY2018	4.35B	3.77B
FY2017	4.74B	4.18B

McKesson financial health

Full balance sheet

Cash and short-term investments: 6.53B USD
Total debt: 11.16B USD
Net cash: -4.63B USD
Free cash flow (TTM)What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.: 6.91B USD
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 0.90
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 7 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: 5.82

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2026	3.98B	8.61B	5.41B
FY2025	5.69B	7.39B	5.23B
FY2024	4.58B	7.39B	3.63B
FY2023	4.68B	7.30B	4.60B
FY2022	3.53B	7.54B	3.90B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2026	82.32B	83.16B	-2.17B
FY2025	75.14B	76.83B	-2.07B
FY2024	67.44B	69.04B	-1.97B
FY2023	62.32B	63.81B	-1.86B
FY2022	63.30B	65.09B	-2.27B
FY2021	65.02B	63.57B	-21.00M
FY2020	61.25B	54.54B	5.09B
FY2019	59.67B	49.99B	8.09B
FY2018	60.38B	48.87B	9.80B
FY2017	60.97B	48.37B	11.10B

McKesson valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 27.81
Forward P/E (FY2027)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 24.04
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 0.30
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 17.22

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

125.36B USD

Total debt

11.16B USD

−

Cash and short-term investments

6.53B USD

Enterprise value

130.00B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2029 (est.)	18.55	—	—	—	—
FY2028 (est.)	21.14	18.55	—	—	—
FY2027 (est.)	24.04	21.14	—	—	—
Now (TTM)	27.81	22.17	0.30	—	17.22
FY2026	22.45	19.16	0.27	-49.24	15.55
FY2025	26.02	17.27	0.24	-41.34	16.65
FY2024	23.80	16.39	0.23	-36.26	15.91
FY2023	14.11	12.89	0.18	-27.05	9.63
FY2022	41.88	11.81	0.18	-20.52	17.67

McKesson against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2022 to FY2026: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Stryker, Bristol-Myers Squibb, Vertex Pharmaceuticals, HCA Healthcare, CVS Health, and Danaher, the US Healthcare companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Above its median27.8
15.146.9
Gross marginBelow its median3.6%
3.5%4.8%
Against its peers: 7 of 7Peers' median 62.4%
Operating marginAbove its median1.6%
1.0%1.6%
Against its peers: 7 of 7Peers' median 20.2%
Net marginAbove its median1.2%
0.4%1.3%
Against its peers: 6 of 7Peers' median 13.8%
Free cash flow marginBelow its median1.3%
1.2%1.7%
Against its peers: 7 of 7Peers' median 19.2%
Revenue growthAbove its median12.4%
4.8%16.2%
Against its peers: 1 of 7Peers' median 7.5%
EPS growthAbove its median49.2%
-10.6%246.3%
Against its peers: 1 of 5Peers' median 1.8%
Debt to EBITDALowest in 5 years1.20×
1.20×2.63×
Against its peers: 2 of 7Peers' median 2.87×
Current ratioLowest in 5 years0.85
0.850.95
Against its peers: 5 of 7Peers' median 1.56

Figure	FY2026	5-year low – high	Against its history	Against its peers
P/E (today)	27.8	15.146.9	Above its median	—
Gross margin	3.6%	3.5%4.8%	Below its median	7 of 7
Operating margin	1.6%	1.0%1.6%	Above its median	7 of 7
Net margin	1.2%	0.4%1.3%	Above its median	6 of 7
Free cash flow margin	1.3%	1.2%1.7%	Below its median	7 of 7
Revenue growth	12.4%	4.8%16.2%	Above its median	1 of 7
EPS growth	49.2%	-10.6%246.3%	Above its median	1 of 5
Debt to EBITDA	1.20×	1.20×2.63×	Lowest in 5 years	2 of 7
Current ratio	0.85	0.850.95	Lowest in 5 years	5 of 7

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

McKesson dividends

Annual dividend: 3.76 USD
Dividend yield (indicated)What is dividend yield? Dividend yield is a year of dividends as a percentage of the share price: the income a shareholder receives for each dollar invested at today's price.: 0.35%
Payout ratioWhat is the payout ratio? The payout ratio is the share of a company's earnings paid out as dividends: dividends per share divided by earnings per share (EPS).: 11.11%
Years of dividend growthWhat are years of dividend growth? The years in a row a company has raised its dividend per share. 25 years make an S&P 500 company a Dividend Aristocrat; 50 make a Dividend King.: 19
Frequency: Quarterly
Next payment: 0.94 USD
Next ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.: 1 Dec 2026
Next payment date: 4 Jan 2027

Dividends per share

Year	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Dividends per share	2.95	2.57	2.24	1.95	1.73	1.65	1.58	1.41	1.18	1.12

McKesson ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 87.13%
Institutional holders: 2,089 (-24)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 99.94%

Who owns the shares

Institutions 87.1% Others 12.9%

As of 30 Jun 2026

Shares free to trade

Free float 115.38M shares ·99.9% Closely held 74.12K shares ·0.1%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

Quarter	Sales	Shares acquired	Shares disposed of
Q4 2026	3	398.00	2.61K
Q3 2026	3	3.14K	8.88K
Q2 2026	8	100.73K	71.05K
Q1 2026	6	5.26K	11.28K

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2026	123.60M	124.10M	-3.12%
FY2025	127.40M	128.10M	-4.47%
FY2024	133.20M	134.10M	-5.70%
FY2023	141.10M	142.20M	-7.72%
FY2022	152.30M	154.10M	-4.05%

Common questions about McKesson's financials

Source: Financial Modeling Prep

McKesson
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MCK

McKesson financials

McKesson earnings

Revenue

EPS

McKesson growth and profitability

Revenue / Net income

How McKesson makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

McKesson revenue breakdown

By product

By region

Operating and free cash flow

McKesson financial health

Cash, debt and free cash flow

Assets, liabilities and equity

McKesson valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

McKesson against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

McKesson dividends

Dividends per share

McKesson ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about McKesson's financials

Is McKesson profitable?

Is McKesson financially healthy?

Is McKesson growing?

Where can I find McKesson's annual report (10-K)?

Need help?

McKesson DQuotes are delayed by 15 minutes

MCK

McKesson financials

McKesson earnings

Revenue

EPS

McKesson growth and profitability

Revenue / Net income

How McKesson makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

McKesson revenue breakdown

By product

By region

Operating and free cash flow

McKesson financial health

Cash, debt and free cash flow

Assets, liabilities and equity

McKesson valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

McKesson against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

McKesson dividends

Dividends per share

McKesson ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about McKesson's financials

Is McKesson profitable?

Is McKesson financially healthy?

Is McKesson growing?

Where can I find McKesson's annual report (10-K)?

Need help?

McKesson
D
Quotes are delayed by 15 minutes