Zacks Investment Research·Jun 26, 2026
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McKesson Corporation(MCK)Earnings, Financials & Key Ratios
MCK•NYSE
$807.33
21.0× P/E·Price updated Jul 7, 2026
AboutMcKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products. This segment also provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices; and consulting, outsourcing, technological, and other services, as well as sells financial, operational, and clinical solutions to pharmacies. The International segment offers distribution and services to wholesale, institutional, and retail customers in 13 European countries and Canada. The Medical-Surgical Solutions segment provides medical-surgical supply distribution, logistics, and other services to healthcare providers. The RxTS segment serves biopharma and life sciences partners and patients to address medication challenges for patients throughout their journeys; connects pharmacies, providers, payers, and biopharma companies to deliver innovative access and adherence solutions; and provides third-party logistics and wholesale distribution support solutions. McKesson Corporation was founded in 1833 and is headquartered in Irving, Texas.Show more
- Revenue$403.43B+12.4%
- EBITDA$7.18B+43.4%
- Net Income$4.76B+44.5%
- EPS (Diluted)38.38+49.2%
- Gross Margin3.61%+3.7%
- EBITDA Margin1.78%+27.7%
- Operating Margin1.6%+31.4%
- Net Margin1.18%+28.6%
MCK Price & Volume
McKesson Corporation (MCK) stock price & volume — 10-year historical chart
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Volatile Margins Mask Persistent Negative Equity Position
Investment Thesis • Updated 2026Q4
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Mixed
Cash Flow:Mixed
Primary Risk:Regulatory drug pricing reform
Key Thesis Takeaways
- McKesson is navigating a complex transition toward higher-margin specialty markets, yet its fundamental profile remains constrained by thin operating margins that fluctuated between 0.8% and 2.3% over the last ten quarters.
- While the company generates significant revenue, the persistent negative equity position of $2.2 billion as of 2026Q4, driven by aggressive share repurchases, raises concerns regarding long-term capital structure sustainability.
- Investors should monitor the company's ability to stabilize cash flow, which has been hampered by erratic working capital swings as large as $6.7 billion in a single quarter.
Verdict Logic
while the company maintains a 17.25 forward P/E ratio, the combination of a negative equity position and erratic free cash flow margins, which hit a low of negative 2.7% in 2025Q3, warrants a cautious approach.
MCK Growth Metrics
McKesson Corporation (MCK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years7.77%
5 Years11.11%
3 Years13.39%
TTM12.36%
Profit CAGR
10 Years7.75%
5 Years-
3 Years10.18%
TTM44.52%
EPS CAGR
10 Years14.74%
5 Years-
3 Years15.3%
TTM49.05%
Return on Capital
10 Years22%
5 Years29.54%
3 Years33.99%
Last Year44.75%
MCK Recent Earnings
McKesson Corporation (MCK) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$11.69+1.1%
$11.56
Rev
$96.3B-5.0%
$101.3B
Q1 2026
Feb 4, 2026Metric
Actual
Est
EPS
$9.34+1.9%
$9.17
Rev
$106.2B+0.3%
$105.8B
Q4 2025
Nov 5, 2025Metric
Actual
Est
EPS
$9.86+9.2%
$9.03
Rev
$103.2B-0.9%
$104.1B
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$8.26+1.5%
$8.14
Rev
$97.8B+1.7%
$96.2B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $11.69vs $11.56+1.1% | $96.3Bvs $101.3B-5.0% |
| Q1 2026 | Feb 4, 2026 | $9.34vs $9.17+1.9% | $106.2Bvs $105.8B+0.3% |
| Q4 2025 | Nov 5, 2025 | $9.86vs $9.03+9.2% | $103.2Bvs $104.1B-0.9% |
| Q3 2025 | Aug 6, 2025 | $8.26vs $8.14+1.5% | $97.8Bvs $96.2B+1.7% |
Based on last 12 quarters of dataView full earnings history →
Latest MCK News
Recent stock market news and headlines for McKesson Corporation (MCK)
Zacks Investment Research·Jun 24, 2026
McKesson Corporation (MCK) Is a Trending Stock: Facts to Know Before Betting on ItMcKesson (MCK) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Business Wire·Jun 24, 2026
McKesson Corporation Announces First Quarter Fiscal 2027 Earnings Release DateIRVING, Texas--(BUSINESS WIRE)--McKesson Corporation (NYSE: MCK) will release its first quarter fiscal 2027 financial results after market close on Wednesday, August 5, 2026. The company will host a live webcast of the earnings conference call for investors at 4:30 PM Eastern Time to review its financial results. The live and archived audio webcast will be available on McKesson's Investor Relations website. About McKesson Corporation McKesson Corporation is a diversified healthcare services lea.
Business Wire·Jun 23, 2026
McKesson ideaShare 2026 Fuels Momentum for Independent PharmaciesIRVING, Texas--(BUSINESS WIRE)--Last week, McKesson Corporation hosted McKesson ideaShare 2026, the company's annual event for independent community pharmacies, in Denver, Colorado.
Zacks Investment Research·Jun 18, 2026
McKesson (MCK) Stock Sinks As Market Gains: Here's WhyMcKesson (MCK) closed the most recent trading day at $750.63, moving 3.74% from the previous trading session.
Peers Comparison
Key metrics vs top competitors for McKesson Corporation (MCK)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $807.33 | $97.04B | 21.04 | 12.36% | 1.18% | — | 0.38% | |
| $239.71 | $56.41B | 37.16 | -1.87% | 0.62% | — | — | |
| $86.84 | $9.89B | 26.56 | 4.03% | 2.95% | 8.14% | — | |
| $104.33 | $133.12B | 75.06 | 7.85% | 0.72% | 3.86% | — | |
| $286.62 | $75.57B | 12.93 | 11.26% | 2.26% | 15.08% | — | |
| $2.24 | $171.11M | -0.16 | -74.19% | -39.85% | — | — |
Compare MCK vs Peers
McKesson Corporation (MCK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MCK SEC Filings & Documents
McKesson Corporation (MCK) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 7, 2026·SEC
Material company update
Apr 28, 2026·SEC
Material company update
Apr 6, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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MCK Frequently Asked Questions
McKesson Corporation (MCK) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is McKesson Corporation's revenue?
McKesson Corporation (MCK) reported $403.43B in revenue for fiscal year 2026. This represents a 3031% increase from $12.89B in 1997.
How fast is McKesson Corporation growing?
McKesson Corporation (MCK) grew revenue by 12.4% over the past year. This is steady growth.
Is MCK profitable?
Yes, McKesson Corporation (MCK) is profitable, generating $4.76B in net income for fiscal year 2026 (1.2% net margin).
Dividend & Returns
Does MCK pay dividends?
Yes, McKesson Corporation (MCK) pays a dividend with a yield of 0.38%. This makes it attractive for income-focused investors.
What is McKesson Corporation's free cash flow?
McKesson Corporation (MCK) generated $5.94B in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.