01—Abstract
Summary
Summary of the 10-K filed May 8, 2026. Cited figures are marked; the original filing is the authoritative source.
McKesson Corporation (MCK) reported strong financial performance for the fiscal year ended March 31, 2026, with revenues increasing by 12% to $403.4 billiona and diluted earnings per share rising significantly to $38.38.
This growth was driven by solid performance across its business segments, particularly in North American Pharmaceutical and Oncology & Multispecialty. The company also actively managed its capital, returning $5.1 billionb to shareholders through share repurchases and dividends, and raised its quarterly dividend. Strategically, McKesson is advancing its business model through significant acquisitions in the Oncology & Multispecialty segment, including PRISM Vision and Core Ventures.
Concurrently, the company announced its intention to separate its Medical-Surgical Solutions segment, entering into an agreement for Apollo Funds to acquire a minority interest, signaling a focused approach on core healthcare services. The company also reported no goodwill impairment and continued to manage its operational efficiencies through ongoing restructuring initiatives.
02—Key points
Key Highlights
- Revenues increased by 12% year-over-year to $403.4 billion.
- Diluted earnings per share saw a substantial increase to $38.38 from $25.72 in the prior year.
- Returned $5.1 billion to shareholders via $4.8 billion in stock repurchases and $381 million in dividends.
- Completed significant acquisitions in the Oncology & Multispecialty segment: PRISM Vision for $875 million and Core Ventures for $2.5 billion.
- Announced plans to separate the Medical-Surgical Solutions segment, with a minority stake sale to Apollo Funds for $1.25 billion.
- No goodwill impairment was recorded in fiscal year 2026, indicating stable value of acquired businesses.
- Continued investment in operational efficiencies through restructuring charges, with $170 million recorded in fiscal 2026.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2026, McKesson Corp kept $0.01.
- Revenue$403.43B100.0%
- Cost of revenue−$388.88B96.4%
- Gross profit$14.55B3.6%
- Operating costs−$8.34B2.1%
- Operating income$6.21B1.5%
- Interest, other & tax−$1.45B0.4%
- Net income$4.76B1.2%
Where FY2026 revenue went
$403.43B- Cost of revenue: $388.88B, 96% of revenue
- Net income: $4.76B, 1.2% of revenue
- SG&A: $8.10B, 2.0% of revenue
Kept 1.2% as net incomeNet income $4.76B · 1.2%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-KFY2026filed May 8, 2026Financial Statements
FY2026 against FY2025
| Line item | FY2026FY2025 | Change |
|---|---|---|
| Revenue | $403.43B$359.05B | +12.4% |
| Cost of Revenue | $388.88B$345.73B | +12.5% |
| Gross Profit | $14.55B$13.32B | +9.2% |
| SG&A Expenses | $8.10B$8.51B | −4.8% |
| Operating Expenses | $8.34B$8.90B | −6.3% |
| Operating Income | $6.21B$4.42B | +40.5% |
| Net Income | $4.76B$3.29B | +44.5% |
| EPS (Basic) | $38.55$25.86 | +49.1% |
| EPS (Diluted) | $38.38$25.72 | +49.2% |
| Shares Outstanding (Basic) | 123.60M127.40M | −3.0% |
| Shares Outstanding (Diluted) | 124.10M128.10M | −3.1% |
05—Questions
Frequently Asked Questions
What is McKesson's strategy regarding its business segments, particularly the Medical-Surgical Solutions segment?
McKesson is strategically focusing on its core healthcare services by announcing its intention to separate its Medical-Surgical Solutions segment. As part of this strategy, the company has entered into a definitive agreement for Apollo Funds to acquire a minority ownership interest for approximately $1.25 billion. This move aims to streamline operations and enhance focus on high-growth areas.
How did McKesson's acquisitions impact its performance in fiscal year 2026?
McKesson completed significant acquisitions in fiscal year 2026, including PRISM Vision for $875 million and Core Ventures for $2.5 billion, both within the Oncology & Multispecialty segment. These acquisitions contributed to the segment's 31% revenue growth and are expected to strengthen McKesson's position in specialty care.
What is the company's approach to returning capital to shareholders?
McKesson demonstrated a strong commitment to returning capital to shareholders in fiscal year 2026, repurchasing $4.8 billion of its common stock and paying $381 million in dividends. The Board also approved an additional $5.0 billion share repurchase authorization, reflecting confidence in future cash flows and shareholder returns.
What are the key financial performance indicators for McKesson in fiscal year 2026?
For the fiscal year ended March 31, 2026, McKesson reported a 12% increase in revenues to $403.4 billion and a significant rise in diluted earnings per share to $38.38, up from $25.72 in the prior year. The company also saw a 9% increase in gross profit, driven by growth in its Oncology & Multispecialty and Prescription Technology Solutions segments.
06—Continue