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MCKESSON CORPMCK

Sector
Healthcare
Industry
Wholesale-Drugs, Proprietaries & Druggists' Sundries
Exchange
NYSE

Stock Price $MCK

Latest filings

You are here#17 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1110-Q328-K146

MCK filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 146 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Leadership change8-K · Apr ’21Apr ’21
  4. FY2025 annual report10-K · May ’25May ’25

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $403.43B
YoY changeLargest recent move+16.2%in FY25Latest +12.4%

Latest bar from 10-KFY2026Click a bar to open its SEC filing

View full history →
All MCK Financial Metrics63 metrics

Income Statement18

Balance Sheet25

Cash Flow15

Per Share5

02—Overview

MCKESSON CORP Financial Overview 2022–2026

Updated Jul 10, 2026

McKesson Corporation drove a massive profitability surge by pivoting away from international retail to focus on domestic specialty care, sending diluted earnings per share to $38.38a in FY2026. This strategic narrowing highlights a clear investment thesis: shedding peripheral global operations to dominate U.S. oncology and prescription technology unlocks tremendous shareholder value. Total revenue grew from $264 billion in FY2022 to $403.4 billion in FY2026, capped by a 12% year-over-year expansion fueled heavily by higher drug utilization in the U.S. Pharmaceutical segment.

To execute this shift, the distributor aggressively restructured its portfolio. McKesson absorbed fair-value charges to exit Europe and Canada—including a $667 millionb hit in FY2025 for its Canadian retail divestiture—while reallocating capital into high-growth targets. During FY2026, the company deployed $3.37 billion to acquire PRISM Vision and Core Ventures. It also struck a $1.25 billion deal to sell a minority stake in its Medical-Surgical unit to Apollo Funds. Despite managing an ongoing opioid litigation liability that stood at $5.7 billion at the end of FY2026, cash generation remained strong enough to return $5.1 billion to shareholders through buybacks and dividends that year.

The market has rewarded this operational focus and share reduction. At the close of FY2025, the stock traded at 26.2x earnings with a price of $672.99c. As the benefits of the oncology acquisitions and sustained revenue growth materialized, the equity climbed to $865.36 by the end of FY2026.

Recent Developments (Q3 and Q4 2026)

In Q3 2026, total revenue rose 11% year-over-year to $106.2 billiond, lifting quarterly diluted earnings per share by 38% to $9.59. During the first nine months, gross profit climbed 8% while total operating expenses declined 6%, highlighting aggressive cost control. To optimize its capital structure, the company secured a new $5.0 billion revolving credit facility in April 2026, capped by a 4.25x debt-to-EBITDA covenant, followed by a $2.25 billion term loan in June 2026.

Significant leadership turnover is also approaching. Kenny K. Cheung assumes the Chief Financial Officer role on May 29, 2026, and Chief Strategy Officer Thomas L. Rodgers retires on August 1, 2026. Bulls see tremendous operating leverage as falling expenses amplify double-digit top-line growth. Conversely, bears worry that simultaneous C-suite transitions and new debt loads create execution risks, especially with the stock trading at 28.6x earnings as of May 8, 2026.

What to watch: leverage ratio fluctuations following recent credit facility expansions; strategic continuity under the incoming executive team.

03—Filings

Recent SEC Filings

  1. 8-KMCKESSON CORP 8-K Report, Regulation FD Disclosure (Oct 6, 2026)McKesson Corporation (NYSE: MCK) announced on October 6, 2026, that it has entered into a definitive agreement with Clayton, Dubilier & Rice (CD&R) to acquire a minority interest in Option Care Health, Inc. (Nasdaq: OPCH), the nation's largest independent provider of home and alternate site infusion services. The transaction values Option Care Health at $32.05 per share, or a total enterprise value of approximately $5.8 billion, representing a premium of roughly 37% to its October 5, 2026 closing price. CD&R will hold a majority stake of approximately 51%, while McKesson will invest approximately $1.4 billion for a roughly 49% minority interest. For McKesson investors, the key takeaways are the size of the capital commitment relative to the company's strategy and the accounting treatment. McKesson intends to account for its stake using the equity method, recording its share of Option Care Health's net income or loss within Other Income, net, which means the investment will flow through McKesson's earnings and could add volatility. The agreement also establishes a framework for McKesson to later acquire CD&R's interest, subject to conditions and regulatory approvals, which could represent a further future capital outlay. The filing does not disclose the expected financial impact on McKesson's earnings, leverage, or capital allocation beyond the investment amount. The transaction is expected to close in the first half of calendar 2027, subject to Option Care Health stockholder approval and regulatory clearances. Upon closing, Option Care Health will be delisted from Nasdaq and become privately held, and it will continue to operate under its existing management team. Option Care Health also withdrew its prior financial guidance and will not host a conference call for its Q3 2026 results, scheduled for November 4, 2026. Investors should monitor the proxy statement, regulatory process, and any future disclosures on McKesson's strategic rationale and financial impact.
  2. 8-KMCKESSON CORP 8-K Report, Regulation FD Disclosure (Aug 28, 2026)McKesson Corporation (MCK) filed an 8-K on August 28, 2026, to disclose a cybersecurity incident that was discovered on August 25, 2026. The company has initiated an investigation, which is currently in its early stages. McKesson is providing updates on its website at www.mckesson.com/cybersecurity for interested parties. At the time of this filing, the company has not yet determined the materiality of the incident or its potential impact on financial condition or results of operations.
  3. 8-KMCKESSON CORP 8-K Report, Financial Results (Aug 5, 2026)McKesson (MCK) reported fiscal 2027 first-quarter results for the quarter ended June 30, 2026, with revenue up 8% to $105.4 billion and Adjusted Earnings per Diluted Share up 20% to $9.93, while GAAP diluted EPS fell 18% to $5.15. The GAAP decline is driven mainly by a $293 million remeasurement charge to redemption value of redeemable noncontrolling interests tied to the Apollo Funds' purchase of an approximately 13% stake in the Medical-Surgical Solutions business, which lifted noncontrolling interest income to $418 million from $47 million. Management attributes the adjusted growth to North American Pharmaceutical and Oncology & Multispecialty, plus a lower share count (diluted shares down 5% to 119.2 million). Oncology & Multispecialty revenue grew 33% and adjusted segment operating profit grew 41%, while Medical-Surgical Solutions adjusted profit fell 20%. Cash generation was weak in the quarter: operating cash flow was negative $220 million and free cash flow was negative $372 million, versus negative $1.1 billion a year earlier. Capital return remained heavy at $2.6 billion, including $2.5 billion of buybacks, of which $2.25 billion was an accelerated share repurchase, and the quarterly dividend was raised 15% to $0.94. Total debt rose meaningfully, with long-term debt increasing to $8.4 billion from $5.3 billion, and stockholders' deficit widened to $(4.2) billion, reflecting the buyback and separation-related activity. Management raised fiscal 2027 Adjusted EPS guidance to $44.20-$45.00 from $43.80-$44.60, implying 13%-15% growth, and no GAAP EPS forecast is provided. The planned separation of Medical-Surgical Solutions, now named Wellverse, remains in progress and is a key driver of both the ownership changes and the upcoming GAAP volatility. Investors should weigh the strong adjusted earnings momentum against the negative free cash flow, rising leverage, and the reliance on non-GAAP adjustments to present results.
  4. 8-KMCKESSON CORP 8-K Report, Shareholder Vote Results (Jul 24, 2026)McKesson Corporation (MCK) has filed an 8-K reporting the final results of its Annual Meeting of Shareholders held on July 22, 2026. The filing confirms the election of all director nominees presented by the Board of Directors, with each individual receiving a substantial majority of "for" votes compared to "against" votes. Additionally, shareholders ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the upcoming fiscal year. The advisory vote to approve executive compensation also passed with a majority of "for" votes. While the overall outcomes are positive, investors should note the varying levels of support for individual director nominees and the advisory executive compensation vote, as indicated by the number of "against" votes and abstentions. The consistent broker non-vote count across director elections suggests a stable portion of shares held in "street name."
  5. 8-KMCKESSON CORP 8-K Report, Executive Changes (Jul 1, 2026)McKesson Corporation (MCK) has announced a significant executive transition, with Thomas L. Rodgers, Executive Vice President, Chief Strategy and Business Development Officer, intending to retire effective August 1, 2026. Mr. Rodgers has served as a key named executive officer, and his departure marks the end of his tenure with the company. The company has also taken proactive steps to ensure a smooth handover by appointing Ramesh Srinivasan to the newly titled position of Executive Vice President, Chief Strategy Officer, also effective August 1, 2026. This strategic appointment underscores McKesson's commitment to maintaining continuity and leadership in its strategic initiatives during this period of change.
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04—See also

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