Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026
Basics
Sector
Healthcare
Industry
Medical Distribution
Country
United States
Market cap
116.5B USD
Enterprise value
121.7B USD
Full-time employees
41,600
Overall health
Strength:its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback:higher risk than most peers: less short-term liquidity (current ratio 0.89 vs a peer median of 2.59)higher risk: less liquidity (current ratio 0.89 vs peers 2.59)
Ranks #443 of 1,157 healthcare companies (top 39%)
Negative shareholders' equity. Liabilities exceed assets on the balance sheet.
McKesson's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $238.2B in FY Mar 2021 to $403.4B in FY Mar 2026.
McKesson's fiscal-year revenue rose in each of the five years to FY Mar 2026, from $238.2B to $403.4B.
Profit is backed by cash. Free cash flow is 140% of reported profit.
McKesson's free cash flow is 140% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Valuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 64 → 63
Share price +3.4%-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Shareholders' equity is negative, so debt/equity counts as among the highest in its peer group33% base weight · Z-score -9.77Sector median: 0.2215 · MAD: 0.2039
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about McKesson
Is McKesson getting weaker?
Its latest SEC filing (Aug 5, 2026) got stronger: share count down 3.0%. Its overall score is unchanged at 57/100 since Oct 28, 2026.
How is McKesson valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 63/100 against 1,393 healthcare peers.Earnings yield 3.9% vs a peer median of 1.5% (stronger than 70% of peers).Earnings yield 3.9% vs peers 1.5% (stronger than 70% of peers).
Is McKesson growing?
Yes, faster than most of its peers. Growth scores 69/100 against 1,393 healthcare peers.Earnings per share growth 54.8% vs a peer median of 9.8% (stronger than 81% of peers).Earnings per share growth 54.8% vs peers 9.8% (stronger than 81% of peers).
How profitable is McKesson?
More profitable than most of its peers. Profitability scores 87/100 against 1,393 healthcare peers.Return on invested capital 1578.8% vs a peer median of 4.7% (stronger than 95% of peers).Return on invested capital 1578.8% vs peers 4.7% (stronger than 95% of peers).Operating margin 1.6% vs a peer median of 7.1% (weaker than 64% of peers).Operating margin 1.6% vs peers 7.1% (weaker than 64% of peers).
How risky is McKesson?
Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings.Beta 0.30 vs a peer median of 0.63 (stronger than 79% of peers).Beta 0.30 vs peers 0.63 (stronger than 79% of peers).Current ratio 0.89× vs a peer median of 2.59× (weaker than 92% of peers).Current ratio 0.89× vs peers 2.59× (weaker than 92% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026
Got stronger
Share count down 3.0%
Previous quarter
Latest quarter
Change
Revenue (12 months)
403.4B USD
411.0B USD
+1.9%
Net income (12 months)
4.8B USD
4.6B USD
−3.6%
Operating margin
1.5%
1.6%
+0.0 pts
Free cash flow (12 months)
5.7B USD
6.4B USD
+12.2%
Debt
6.5B USD
9.7B USD
+49.1%
Cash
4.0B USD
5.2B USD
+29.9%
Shares outstanding
120.2M
116.6M
−3.0%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Healthcare · 301 companies
Valuations in Healthcare are within their usual range since 2016.
52% of months since 2016 were valued lower than now.
19% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +8% and earnings +24% (medians): earnings grew faster than prices.
Median price-to-sales is +63% vs the whole market, against a usual +119%.
2016Shaded: most expensive fifth of its range2026
Shown for Healthcare: too few Medical Distribution companies have a long enough history of their own.
Earnings-based measures are left out for now because many companies in Healthcare are losing money.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY Mar 2022
FY Mar 2023
FY Mar 2024
FY Mar 2025
FY Mar 2026
Change
Gross margin
5.0%
4.5%
4.2%
3.7%
3.6%
▼ 0.1 pts
Operating margin
0.8%
1.6%
1.3%
1.2%
1.5%
▲ 0.3 pts
Net margin
0.4%
1.3%
1.0%
0.9%
1.2%
▲ 0.3 pts
Return on assets (ROA)
1.8%
5.7%
4.5%
4.4%
5.8%
▲ 1.4 pts
Free cash flow margin
1.5%
1.7%
1.3%
1.5%
1.4%
▼ 0.1 pts
Current ratio
0.95×
0.92×
0.92×
0.90×
0.85×
▼ 5.1%
Quick ratio
0.57×
0.51×
0.51×
0.53×
0.49×
▼ 6.4%
Interest coverage
11.45×
17.67×
15.51×
16.69×
25.15×
▲ 51%
MCK price history
Price history is added with the daily price update and will appear after the next one.