MCK Financials McKesson Corporation

15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated 41 d ago Overview →

Growth & profitability

Revenue has grown 11.1% per year over the past 5 years.
Operating margin has expanded, at 1.5% in the latest year.
Free cash flow has grown 6.9% per year over the past 5 years.

Financial health

Total debt ($6.5B) exceeds cash ($4.0B); net debt is $2.6B.
Total debt has grown slower than revenue (-1.8% vs 11.1% per year).
Operating income covered interest expense 25× in the latest year.
Total debt is 1.0× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 8.0% of earnings and 6.7% of free cash flow.
The dividend has grown 6.7% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2026	$403.4B	$4.8B	3.6%	1.5%	-219.2%	5.8%	$5.7B	$6.5B	$4.0B
2025	$359.1B	$3.3B	3.7%	1.2%	-158.9%	4.4%	$5.5B	$5.7B	$5.7B
2024	$309.0B	$3.0B	4.2%	1.3%	-152.3%	4.5%	$3.9B	$5.6B	$4.6B
2023	$276.7B	$3.6B	4.5%	1.6%	-191.7%	5.7%	$4.8B	$5.6B	$4.7B
2022	$264.0B	$1.1B	5.0%	0.8%	-49.0%	1.8%	$4.0B	$5.9B	$3.5B
2021	$238.2B	-$4.5B	5.1%	-2.1%	21614.3%	-7.0%	$4.1B	$7.1B	$6.3B
2020	$231.1B	$900M	5.2%	1.1%	17.7%	1.5%	$4.0B	$7.4B	$4.0B
2019	$214.3B	$34M	5.5%	0.4%	0.4%	0.1%	$3.6B	$7.6B	$3.0B
2018	$208.4B	$67M	5.4%	0.4%	0.7%	0.1%	$3.9B	$7.9B	$2.7B
2017	$198.5B	$5.1B	5.7%	3.6%	45.7%	8.3%	$4.3B	$8.5B	$2.8B
2016	—	$2.3B	—	—	25.3%	4.0%	$3.2B	$8.1B	$4.0B
2015	—	$1.5B	—	—	18.4%	2.7%	$2.7B	$9.8B	$5.3B
2014	—	$1.3B	—	—	14.8%	2.4%	$2.9B	$10.6B	$4.2B
2013	—	$1.3B	—	—	18.9%	3.8%	$2.2B	$4.9B	$2.5B
2012	—	$1.4B	—	—	20.5%	4.2%	$2.7B	$3.6B	$3.1B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$105.4B	$614M	3.5%	1.3%	-14.5%	0.7%	-$332M	$9.7B	$5.2B
Mar '26	$96.3B	$1.7B	4.2%	2.2%	-77.4%	2.0%	$3.3B	$6.5B	$4.0B
Dec '25	$106.2B	$1.2B	3.5%	1.5%	-91.4%	1.4%	$1.1B	$6.6B	$3.0B
Sep '25	$103.2B	$1.1B	3.4%	1.4%	-63.8%	1.3%	$2.3B	$7.8B	$4.0B
Jun '25	$97.8B	$784M	3.4%	1.1%	-39.9%	1.0%	-$1.0B	$7.8B	$2.4B
Mar '25	$90.8B	$1.3B	4.0%	1.8%	-60.8%	1.7%	$7.6B	$5.7B	$5.7B
Dec '24	$95.3B	$879M	3.4%	1.3%	-28.5%	1.2%	-$2.5B	$8.0B	$1.1B
Sep '24	$93.7B	$241M	3.5%	0.6%	-8.0%	0.3%	$2.0B	$5.7B	$2.5B
Jun '24	$79.3B	$915M	4.0%	1.3%	-52.1%	1.3%	-$1.5B	$5.6B	$2.3B
Mar '24	$76.4B	$791M	4.7%	1.6%	-40.1%	1.2%	$4.0B	$5.6B	$4.6B
Dec '23	$80.9B	$589M	3.9%	0.8%	-28.7%	0.9%	$164M	$5.9B	$2.0B
Sep '23	$77.2B	$664M	4.0%	1.2%	-36.3%	1.0%	$890M	$5.6B	$2.5B
Jun '23	$74.5B	$958M	4.1%	1.5%	-59.8%	1.5%	-$1.1B	$5.7B	$2.6B
Mar '23	$68.9B	$787M	4.4%	1.4%	-42.4%	1.3%	$3.2B	$5.6B	$4.7B
Dec '22	$70.5B	$1.1B	4.5%	1.8%	-44.0%	1.7%	$1.6B	—	$2.8B
Sep '22	$70.2B	$926M	4.4%	1.6%	-52.4%	1.5%	$1.0B	—	$2.9B
Jun '22	$67.2B	$768M	4.5%	1.5%	-38.3%	1.2%	-$1.0B	—	$2.2B
Mar '22	$66.1B	$368M	5.0%	1.0%	-16.2%	0.6%	$2.8B	$5.9B	$3.5B
Dec '21	$68.6B	-$7M	5.0%	0.4%	0.5%	-0.0%	$1.3B	$5.9B	$2.8B
Sep '21	$66.6B	$267M	5.0%	0.8%	-46.8%	0.4%	$1.7B	$5.9B	$2.2B

Valuation over time

How the market has priced MCK against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 11.7× (Mar '23) to 22.6× (Sep '26).
The price-to-sales ratio has risen from 0.1× (Mar '23) to 0.3× (Sep '26).
The dividend yield has fallen from 0.7% (Mar '23) to 0.4% (Sep '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is MCK growing its revenue and profit?

Over the past 5 years, McKesson Corporation's revenue has grown 11.1% per year. These are computed facts, not advice.

How much debt does MCK have?

As of FY2026, McKesson Corporation reported $6.5B of total debt against $4.0B of cash; operating income covered interest expense 25×.

What is MCK's profit margin?

In FY2026, gross margin was 3.6%, operating margin 1.5%, and net margin 1.2%.

What is MCK's P/E ratio?

As of Sep '26, McKesson Corporation traded at a price-to-earnings ratio of about 22.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.