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 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
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
FCF
Total debt
Cash
2026
$403.4B
$4.8B
3.6%
1.5%
$5.7B
$6.5B
$4.0B
2025
$359.1B
$3.3B
3.7%
1.2%
$5.5B
$5.7B
$5.7B
2024
$309.0B
$3.0B
4.2%
1.3%
$3.9B
$5.6B
$4.6B
2023
$276.7B
$3.6B
4.5%
1.6%
$4.8B
$5.6B
$4.7B
2022
$264.0B
$1.1B
5.0%
0.8%
$4.0B
$5.9B
$3.5B
2021
$238.2B
-$4.5B
5.1%
-2.1%
$4.1B
$7.1B
$6.3B
2020
$231.1B
$900M
5.2%
1.1%
$4.0B
$7.4B
$4.0B
2019
$214.3B
$34M
5.5%
0.4%
$3.6B
$7.6B
$3.0B
2018
$208.4B
$67M
5.4%
0.4%
$3.9B
$7.9B
$2.7B
2017
$198.5B
$5.1B
5.7%
3.6%
$4.3B
$8.5B
$2.8B
2016
—
$2.3B
—
—
$3.2B
$8.1B
$4.0B
2015
—
$1.5B
—
—
$2.7B
$9.8B
$5.3B
2014
—
$1.3B
—
—
$2.9B
$10.6B
$4.2B
2013
—
$1.3B
—
—
$2.2B
$4.9B
$2.5B
2012
—
$1.4B
—
—
$2.7B
$3.6B
$3.1B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$96.3B
$1.7B
4.2%
2.2%
$3.3B
$6.5B
$4.0B
Dec '25
$106.2B
$1.2B
3.5%
1.5%
$1.1B
$6.6B
$3.0B
Sep '25
$103.2B
$1.1B
3.4%
1.4%
$2.3B
$7.8B
$4.0B
Jun '25
$97.8B
$784M
3.4%
1.1%
-$1.0B
$7.8B
$2.4B
Mar '25
$90.8B
$1.3B
4.0%
1.8%
$7.6B
$5.7B
$5.7B
Dec '24
$95.3B
$879M
3.4%
1.3%
-$2.5B
$8.0B
$1.1B
Sep '24
$93.7B
$241M
3.5%
0.6%
$2.0B
$5.7B
$2.5B
Jun '24
$79.3B
$915M
4.0%
1.3%
-$1.5B
$5.6B
$2.3B
Mar '24
$76.4B
$791M
4.7%
1.6%
$4.0B
$5.6B
$4.6B
Dec '23
$80.9B
$589M
3.9%
0.8%
$164M
$5.9B
$2.0B
Sep '23
$77.2B
$664M
4.0%
1.2%
$890M
$5.6B
$2.5B
Jun '23
$74.5B
$958M
4.1%
1.5%
-$1.1B
$5.7B
$2.6B
Mar '23
$68.9B
$787M
4.4%
1.4%
$3.2B
$5.6B
$4.7B
Dec '22
$70.5B
$1.1B
4.5%
1.8%
$1.6B
—
$2.8B
Sep '22
$70.2B
$926M
4.4%
1.6%
$1.0B
—
$2.9B
Jun '22
$67.2B
$768M
4.5%
1.5%
-$1.0B
—
$2.2B
Mar '22
$66.1B
$368M
5.0%
1.0%
$2.8B
$5.9B
$3.5B
Dec '21
$68.6B
-$7M
5.0%
0.4%
$1.3B
$5.9B
$2.8B
Sep '21
$66.6B
$267M
5.0%
0.8%
$1.7B
$5.9B
$2.2B
Jun '21
$62.7B
$486M
4.8%
0.9%
-$1.7B
—
$2.4B
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 12.0× (Mar '23) to 19.3× (Jun '26).
The price-to-sales ratio has risen from 0.2× (Mar '23) to 0.2× (Jun '26).
The dividend yield has fallen from 0.7% (Mar '23) to 0.4% (Jun '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 Jun '26, McKesson Corporation traded at a price-to-earnings ratio of about 19.3× (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.