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 Aug 9, 2026, 10:20 UTC 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 24.5× (Nov '26).
The price-to-sales ratio has risen from 0.1× (Mar '23) to 0.3× (Nov '26).
The dividend yield has fallen from 0.7% (Mar '23) to 0.3% (Nov '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?

McKesson Corporation's P/E (TTM) is 25.40 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the MCK stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 24.5× as of Nov '26) can differ. 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), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.