MCKNYSEWholesale-Drugs, Proprietaries & Druggists' SundriesFiscal year ends March 31
MCKESSON CORP
Financials through Q1 FY2027, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$1010.43+5.59 (+0.56%)
Close on Oct 19, 2026
- Market cap
- $120.44B
- P/E (TTM)
- 27.1
- Dividend yield
- 0.31%
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
3.6%−1.5 pts over 5 years
Operating margin
1.5%+3.7 pts over 5 years
Net margin
1.2%+3.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +12.4% | +13.4% | +11.1% | +7.8% | |
| Gross profit | +9.2% | +5.6% | +3.7% | +2.5% | |
| Operating income | +40.5% | +12.3% | – | +5.8% | |
| Net income | +44.5% | +10.2% | – | +7.7% | |
| EPS, diluted | +49.2% | +15.3% | – | +14.7% | |
| Free cash flow | +3.1% | +6.2% | +6.9% | +6.0% | |
| Dividend per share | +15.3% | +14.9% | +13.7% | +11.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 50.7% | -179.0% | -224.3% | |
| Return on assets | 8.6% | -7.2% | 6.0% | |
| Current ratio | 1.04 | 1.03 | 0.85 | |
| Debt to equity | 0.77 | -340.38 | -3.00 | |
| Net debt to EBITDA | 0.53× | -0.16× | 0.39× | |
| Interest coverage | – | -23.2× | 25.1× | |
| Inventory turnover | 12.2× | 12.6× | 16.5× | |
| Capex to revenue | 0.2% | 0.2% | 0.1% | |
| Diluted shares | 223M | 161M | 124M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Mckesson generated $26.15B from operations and spent $21.87B on capital expenditure, dividends and share buybacks. 10% of that went back into the business.
Generated
$26.15B
Used
$21.87B
Capital expenditure$2.18B10%Dividends$1.61B7%Share buybacks$18.08B83%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin1.2%
×Asset turnover5.12×
×Equity multiplier-37.09×
=Return on equity, FY2026-224.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 1.2% | 5.12× | -37.09× | -224.3% |
| FY2025 | 0.9% | 5.04× | -35.25× | -162.9% |
| FY2024 | 1.0% | 4.76× | -33.90× | -156.8% |
| FY2023 | 1.3% | 4.41× | -30.42× | -172.4% |
| FY2022 | 0.4% | 4.11× | -55.96× | -97.2% |
| FY2021 | -1.9% | 3.77× | 24.90× | -179.0% |
| FY2020 | 0.4% | 3.82× | 9.17× | 13.7% |
| FY2019 | 0.0% | 3.57× | 6.71× | 0.4% |
| FY2018 | 0.0% | 3.43× | 5.81× | 0.6% |
| FY2017 | 2.6% | 3.38× | 5.87× | 50.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
6of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$4.76B
- Cash generatingOperating cash flow above zero$6.16B
- Return on assets improvedROA up on the prior year4.9% → 6.3%
- Earnings backed by cashOperating cash flow above net income$6.16B vs $4.76B
- Less leverageLong-term debt to assets fell5.9% → 6.4%
- Better liquidityCurrent ratio rose0.90 → 0.85
- No dilutionShare count did not rise128M → 124M
- Gross margin improvedGross margin up on the prior year3.71% → 3.61%
- More efficientAsset turnover rose5.32 → 5.37