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McKesson Corporation

MCK Healthcare Medical Distribution

McKesson Corporation’s revenue for fiscal 2026 (year ended March 2026) was $403.4 billion, up 12.4% from fiscal 2025. In the quarter to June 2026, revenue grew 7.72%, EPS fell 17.7%, free cash flow grew 66.4% and total debt rose 10.5%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, revenue growth for ten.

1,006.92 8.28 +0.83%
Market cap
$116.4B
P/E
26.8×
Fwd P/E
18.3×
Dividend yield
0.34%
F-score
7/9
Altman Z
6.15
Beneish M
−2.34
Dividend safety
86/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 28.27
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 — 1 4 1 — 2 5 1 1 1 —
Insider Ownership 1.84%

Capital & Financial Ratios $m

Market Cap 116,430.00
Revenue 410,983.00
Net Income 5,300.00
Free Cash Flow 6,145.00
Net Debt 9,623.00
Current Ratio 0.89 (below 1: weak)
Debt/Equity (3.83) (negative: negative equity)
P/E ratio 26.83
Fwd P/E 18.30
P/S ratio 0.29
P/B ratio 0.00
Past 5Y EPS Growth —
This Y EPS Growth 14.17%
Next Y EPS Growth 13.48%
Next Y revenue growth 7.05%
Next 5Y EPS Growth 14.10%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.3×, against a ten-year median of 0.2×; over the ten years it ranged from 0.1× in 2020 to 0.3× in 2026.
P/E against its own 10 years 66.06%
10-year low 10-year high
P/S against its own 10 years 99.26%
10-year low 10-year high
EV/Sales against its own 10 years 99.45%
10-year low 10-year high
EV/FCF against its own 10 years 90.45%
10-year low 10-year high

Dividends

Payout Ratio 0.09
Annual Dividend Rate 3.40
Annual Dividend Yield 0.34%
total individual payouts
2029 Powerpack
2028 Powerpack
2027 Powerpack
2026 2.58
0.82
0.82
0.94
2025 3.06
0.71
0.71
0.82
0.82
2024 2.66
0.62
0.62
0.71
0.71
2023 2.32
0.54
0.54
0.62
0.62
2022 2.02
0.47
0.47
0.54
0.54
2021 2.20
0.42
0.42
0.42
0.47
0.47
2020 1.66
0.41
0.41
0.42
0.42
2019 1.60
0.39
0.39
0.41
0.41
2018 1.46
0.34
0.34
0.39
0.39
2017 1.24
0.28
0.28
0.34
0.34
2016 1.12
0.28
0.28
0.28
0.28
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 4,583 5,691 3,975 5,164
Receivables 21,622 25,643 27,985 30,316
Inventory 21,139 23,001 24,207 26,259
Other — — — —
47,970 55,398 57,210 62,837
2024 2025 2026 Q'26
Payables 47,097 55,330 59,973 63,731
ST’ Debt 50 1,191 1,267 1,297
Other — — — —
52,357 61,604 67,017 70,356

Compound Annual Growth %

10y 5y 3y
Sales 7.77% 11.11% 13.39%
Cash Flow 5.30% 6.27% 6.06%
Earnings 7.75% 0.00% 10.18%
Book Value 0.00% 0.00% 0.00%

Revenue $m

Jun Sep Dec Mar Year
’26 105,380 — — — —
’26 97,827 103,150 106,158 96,295 403,430
’25 79,283 93,651 95,294 90,823 359,051
’24 74,483 77,215 80,898 76,355 308,951
’23 67,154 70,157 70,490 68,910 276,711
’22 62,674 66,576 68,614 66,102 263,966
’21 55,679 60,808 62,599 59,142 238,228
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 (220) — — — —
’26 (918) 2,420 1,232 3,421 6,155
’25 (1,380) 2,100 (2,383) 7,748 6,085
’24 (1,052) 965 254 4,147 4,314
’23 (941) 1,107 1,668 3,325 5,159
’22 (1,622) 1,792 1,377 2,887 4,434
’21 (1,062) 1,021 1,213 3,370 4,542
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 (372) — — — —
’26 (1,107) 2,224 1,057 3,236 5,410
’25 (1,547) 1,882 (2,579) 7,470 5,226
’24 (1,176) 825 100 3,878 3,627
’23 (1,041) 985 1,514 3,143 4,601
’22 (1,781) 1,672 1,276 2,732 3,899
’21 (1,179) 873 1,051 3,156 3,901
Fiscal quarters ending in the months shown.

EPS $

Jun Sep Dec Mar Year
’26 5.15 — — — —
’26 6.25 8.92 9.59 13.71 38.38
’25 7.00 1.87 6.95 10.01 25.72
’24 7.02 4.92 4.42 6.02 22.39
’23 5.32 6.42 7.66 5.71 25.03
’22 3.07 1.71 (0.04) 2.47 7.23
’21 2.72 3.54 (39.03) 4.15 (28.26)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 133.82 106.11 109.16 112.60 169.34 237.61 331.75 462.70 565.75 723.68

Analyst estimates 2027–2029

Powerpack
High 169.29 178.86 154.79 187.67 251.04 401.78 476.35 637.51 895.58 1,014.99
People
People Employees 78,000 78,000 80,000 80,000 76,000 75,000 51,000 51,000 45,000 43,000
Revenue/emp, $m 2.55 2.67 2.68 2.89 3.13 3.52 5.43 6.06 7.98 9.38
Income, $m
Income, $m Revenue 198,533 208,357 214,319 231,051 238,228 263,966 276,711 308,951 359,051 403,430
Gross margin, % 5.68 5.37 5.48 5.20 5.10 4.97 4.47 4.15 3.71 3.61
EBT 6,891 239 610 1,144 (5,034) 1,928 4,630 3,789 4,359 6,201
EBT margin, % 3.47 0.11 0.28 0.50 (2.11) 0.73 1.67 1.23 1.21 1.54
Net income 5,153 297 255 1,120 (4,340) 1,287 3,722 3,160 3,481 5,099
Depreciation 1,200 3,168 3,028 1,061 1,129 760 608 635 636 729
Per share, $
Per share, $ Revenue 898.34 1,001.72 1,091.79 1,279.35 1,483.36 1,733.20 1,961.10 2,319.45 2,818.30 3,264.00
Earnings 22.95 0.32 0.17 4.98 (28.26) 7.32 25.23 22.54 25.86 38.55
Cash flow 21.47 20.89 20.56 24.22 28.28 29.11 36.56 32.39 47.76 49.80
Capex (2.54) (2.79) (2.84) (2.80) (3.99) (3.51) (3.95) (5.16) (6.74) (6.03)
Free cash flow 18.92 18.10 17.72 21.42 24.29 25.60 32.61 27.23 41.02 43.77
Book value 51.01 48.35 42.22 29.40 1.09 (11.77) (10.56) (12.00) (13.30) (14.38)
Shares, m 221 208 196 181 161 152 141 133 127 124
Valuation, ×
Valuation, × P/E 6.29 607.87 1,485.50 26.06 0.00 41.94 14.13 23.81 25.92 22.40
P/S 0.17 0.14 0.11 0.11 0.13 0.18 0.18 0.23 0.24 0.27
P/B 2.91 2.89 2.82 4.60 178.99 0.00 0.00 0.00 0.00 0.00
EV/Sales 0.19 0.16 0.13 0.12 0.17 0.21 0.21 0.25 0.25 0.28
EV/FCF 9.21 9.11 8.03 7.19 10.32 14.41 12.56 21.68 17.47 21.18
Cash, $m
Cash, $m Operating cash flow 4,744 4,345 4,036 4,374 4,542 4,434 5,159 4,314 6,085 6,155
Capex (562) (580) (557) (506) (641) (535) (558) (687) (859) (745)
Free cash flow 4,182 3,765 3,479 3,868 3,901 3,899 4,601 3,627 5,226 5,410
Balance, $m
Balance, $m Working capital 1,336 451 839 (402) 1,279 (2,235) (3,665) (4,387) (6,206) (9,807)
Total debt 8,545 7,880 7,595 7,387 15,215 13,099 12,219 11,742 11,255 11,617
Net debt 5,762 5,208 4,614 3,372 8,937 9,567 7,541 7,159 5,564 7,642
Shareholders’ equity 11,273 10,057 8,287 5,309 175 (1,792) (1,490) (1,599) (1,694) (1,777)
Returns, %
Returns, % ROA 8.63 0.11 0.06 1.49 (7.19) 1.74 5.67 4.63 4.62 6.05
ROIC 26.13 3.12 4.29 17.92 (34.57) 16.38 45.25 43.94 71.41 66.20
ROE 50.00 0.63 0.37 13.24 (165.54) (137.79) (216.94) (194.37) (200.12) (274.39)
Negative figures in brackets.

All 10 years →

Fiscal years to Mar 2026 · latest quarter Jun 2026

Charts ten years each

McKesson Corporation vs peers in Medical Distribution (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MCK McKesson Corporation $116.4B 26.8× 18.3× +7.72% (above 0%: growing) −17.68% (below 0%: shrinking) +66.40% (above 0%: growing) 3.50% 1.25%
COR Cencora, Inc. $65.2B 25.2× 14.5× +5.07% (above 0%: growing) +11.27% (above 0%: growing) +3,385.25% (above 0%: growing) 4.26% 1.32% Compare
CAH Cardinal Health, Inc. $58.8B 35.0× 23.3× +5.84% (above 0%: growing) +68.32% (above 0%: growing) +10.87% (above 0%: growing) 4.02% 1.14% Compare
HSIC Henry Schein, Inc. $9.7B 25.0× 18.5× +6.73% (above 0%: growing) +16.90% (above 0%: growing) +140.91% (above 0%: growing) 31.84% 4.95% Compare
AHG Akso Health Group Sponsored ADR $1.2B — (loss-making) — (loss-making) +263.89% (above 0%: growing) n/m −12,975.04% (below 0%: shrinking) 0.00% 0.00% Compare
FOCL FocalTherics $154.8M — (loss-making) — (loss-making) +38.85% (above 0%: growing) n/m +21.49% (above 0%: growing) 55.59% (60.83%) Compare
COSM Cosmos Health Inc. $33.9M — (loss-making) 25.1× +28.76% (above 0%: growing) n/m +9.39% (above 0%: growing) 7.96% (15.41%) Compare
ACH Accendra Health, Inc. $20.1M — (loss-making) — (loss-making) −10.07% (below 0%: shrinking) n/m −1,624.82% (below 0%: shrinking) 42.95% (5.73%) Compare
HKPD Cellyan Biotechnology Co., Ltd $17.1M — — — — −90.45% (below 0%: shrinking) — — Compare
Median of peers $652.4M 25.2× 20.9× +6.73% +16.90% +10.13% 7.96% 0.00%

All 11 Medical Distribution stocks →

MCK metrics, ten years each

McKesson Corporation (MCK) key facts

  • Strength: McKesson Corporation’s revenue for fiscal 2026 (year ended March 2026) was $403.4 billion, up 12.4% from fiscal 2025.
  • Strength: Net income was $5.1 billion, or $38.55 per share (basic), a net margin of 1.18%.
  • McKesson Corporation (MCK) is a Medical Distribution company in the Healthcare sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, MCK traded at $1,006.92, a market capitalization of $116.4 billion.
  • At that price the stock trades at 26.8× trailing-twelve-month earnings and 0.3× sales; its P/E is higher than 66% of its own readings over the past ten years.
  • McKesson Corporation pays an annual dividend of $3.40 per share, a yield of 0.34%, with a payout ratio of 9.10%.
  • Return on equity was −274.4% and debt-to-equity -3.83.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 6.15 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

McKesson Corporation (MCK) Latest News

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stockrow.com/MCK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com