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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. 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 RxTS segment serves biopharma and life sciences partners to address challenges for patients by working across healthcare to connect patients, pharmacies, providers, pharmacy benefit managers, health plans, and biopharma companies to deliver solutions to help people get the medicine needed to live healthier lives; and provides medication access and affordability, prescription decision support, prescription price transparency, benefit insight, dispensing support, third-party logistics, and wholesale distribution support services, as well as electronic prior authorization services. The Medical-Surgical Solutions segment offers medical-surgical supply distribution, logistics, biomedical maintenance, and other services to healthcare providers, including physician offices, surgery centers, nursing homes, post-acute care facilities, hospital reference labs, and home health care agencies. The International segment delivers medicines, supplies, and information technology solutions to retail pharmacies, hospitals, long-term care centers, clinics and institutions; and provides logistics and distribution services for manufacturers. McKesson Corporation was founded in 1833 and is headquartered in Irving, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $403.4B | $7.2B | $4.8B | $5.4B | -219.2% | 12.4% | 44.5% |
| 2025 | $359.1B | $5.3B | $3.3B | $5.2B | -158.9% | 16.2% | 9.8% |
| 2024 | $309.0B | $4.7B | $3.0B | $3.6B | -152.3% | 11.7% | -15.7% |
| 2023 | $276.7B | $5.5B | $3.6B | $4.6B | -191.7% | - | - |
| 2022 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 276,711 | 308,951 | 359,051 | 403,430 |
| Operating Revenue | - | 276,711 | 308,951 | 359,051 | 403,430 |
| Cost Of Revenue | - | 264,353 | 296,123 | 345,728 | 388,880 |
| Gross Profit | - | 12,358 | 12,828 | 13,323 | 14,550 |
| Operating Expense | - | 7,776 | 8,657 | 8,507 | 8,096 |
| Selling General And Administration | - | 7,776 | 8,657 | 8,507 | 8,096 |
| Total Expenses | - | 272,129 | 304,780 | 354,235 | 396,976 |
| Operating Income | - | 4,582 | 4,171 | 4,816 | 6,454 |
| Total Operating Income As Reported | - | 4,381 | 3,909 | 4,422 | 6,212 |
| EBITDA | - | 5,486 | 4,676 | 5,260 | 7,177 |
| Normalized EBITDA | - | 5,576 | 4,958 | 5,587 | 7,406 |
| EBIT | - | 4,878 | 4,041 | 4,624 | 6,448 |
| Interest Income | - | 107 | 118 | 173 | 179 |
| Interest Expense | - | 248 | 252 | 265 | 247 |
| Net Interest Income | - | -141 | -134 | -92 | -68 |
| Other Non Operating Income Expenses | - | 279 | 34 | -38 | 44 |
| Other Income Expense | - | 189 | -248 | -365 | -185 |
| Interest Income Non Operating | - | 107 | 118 | 173 | 179 |
| Interest Expense Non Operating | - | 248 | 252 | 265 | 247 |
| Net Non Operating Interest Income Expense | - | -141 | -134 | -92 | -68 |
| Pretax Income | - | 4,630 | 3,789 | 4,359 | 6,201 |
| Tax Provision | - | 905 | 629 | 878 | 1,102 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -17.55 | -46.81 | -65.73 | -40.76 |
| Net Income Continuous Operations | - | 3,725 | 3,160 | 3,481 | 5,099 |
| Net Income From Continuing And Discontinued Operation | - | 3,560 | 3,002 | 3,295 | 4,762 |
| Net Income From Continuing Operation Net Minority Interest | - | 3,563 | 3,002 | 3,295 | 4,762 |
| Net Income | - | 3,560 | 3,002 | 3,295 | 4,762 |
| Net Income Common Stockholders | - | 3,560 | 3,002 | 3,295 | 4,762 |
| Net Income Including Noncontrolling Interests | - | 3,722 | 3,160 | 3,481 | 5,099 |
| Normalized Income | - | 3,635.45 | 3,237.19 | 3,556.27 | 4,950.24 |
| Diluted NI Availto Com Stockholders | - | 3,560 | 3,002 | 3,295 | 4,762 |
| Basic Average Shares | - | 141.10 | 133.20 | 127.40 | 123.60 |
| Diluted Average Shares | - | 142.20 | 134.10 | 128.10 | 124.10 |
| Reconciled Depreciation | - | 608 | 635 | 636 | 729 |
| Reconciled Cost Of Revenue | - | 264,353 | 296,123 | 345,728 | 388,880 |
| Total Unusual Items | - | -90 | -282 | -327 | -229 |
| Total Unusual Items Excluding Goodwill | - | -90 | -282 | -327 | -229 |
| Minority Interests | - | -162 | -158 | -186 | -337 |
| Net Income Discontinuous Operations | -5 | -3 | 0 | 0 | - |
| Special Income Charges | - | -201 | -262 | -394 | -242 |
| Other Special Charges | - | -8 | 147 | 108 | -3 |
| Impairment Of Capital Assets | 36 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | - | 209 | 115 | 286 | 245 |
| Gain On Sale Of Security | - | 111 | -20 | 67 | 13 |
| Earnings From Equity Interest | 0 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| McKesson Corporationthis co. | MCK | $91.0B | 19.11 | -41.89 | -219.2% | 13.32 |
| Bristol-Myers Squibb Company | BMY | $115.6B | 16.39 | 6.26 | 38.2% | 10.01 |
| Stryker Corporation | SYK | $115.5B | 35.57 | 5.15 | 14.5% | 20.16 |
| Vertex Pharmaceuticals Incorporated | VRTX | $112.1B | 28.36 | 6.01 | 21.2% | 22.41 |
| Medtronic plc | MDT | $105.2B |
| - |
| - |
| - |
| - |
| - |
| 22.56 |
| 2.19 |
| 9.7% |
| 14.26 |
| Elevance Health, Inc. | ELV | $88.9B | 15.70 | 2.03 | 12.9% | - |
| HCA Healthcare, Inc. | HCA | $80.3B | 11.83 | -13.32 | -112.6% | 8.20 |
| The Cigna Group | CI | $74.2B | 12.46 | 1.78 | 14.3% | 10.24 |
| Boston Scientific Corporation | BSX | $72.6B | 25.05 | 3.00 | 12.0% | 16.09 |
| Peer Median | - | 19.47 | 2.59 | 13.6% | 14.26 | |