Skip to content
Optionomics Free · No account needed

Earnings analysis · 10-K

MCK earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

McKesson Corporation's FY 2026 10-K report highlights a strategic shift towards operational efficiencies and expanded service offerings, reflected in a 12% revenue increase year-over-year to $403.43 billion, coupled…

Read full summary

McKesson Corporation's FY 2026 10-K report highlights a strategic shift towards operational efficiencies and expanded service offerings, reflected in a 12% revenue increase year-over-year to $403.43 billion, coupled with a 49% increase in diluted EPS to $38.38. The company is transitioning into a more focused structure with planned separations of certain segments, amidst ongoing legal challenges and market competitiveness.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $96 Operating expenses $2 Left as operating profit $2

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$38.38
Segment
North American Pharmaceutical
Segment
Oncology & Multispecialty
Segment
Prescription Technology Solutions
Segment
Medical-Surgical Solutions

What stood out

  • Impressive Revenue Growth

    Total revenues increased 12% to $403.43 billion for FY 2026, driven by the North American Pharmaceutical segment.

  • Significant EPS Growth

    Diluted EPS rose 49% from $25.72 in FY 2025 to $38.38 in FY 2026.

  • Strong Cash Flow Generation

    Free cash flow was $1.12 billion for Q3 FY 2026, supporting robust operational funding.

  • Successful Acquisitions

    Acquired a controlling interest in PRISM Vision for $875M, enhancing oncology services.

  • Increased Shareholder Returns

    Returned $5.1 billion to shareholders via $4.8 billion in stock buybacks and $381 million in dividends.

  • Strategic Segment Reporting

    Transitioned to 4 reportable segments to streamline operations and improve focus.

What to watch

  • Litigation Risks

    Ongoing opioid-related litigation could result in significant financial impacts; estimated accrued liability at $5.7 billion.

  • Market Volatility Exposure

    Rapid fluctuations in pharmaceuticals market pricing and reimbursement policies can adversely affect revenues.

  • Operational Execution Risks

    Transitioning business structure and focus on operational efficiency may disrupt existing operations.

Management's outlook

Fiscal 2027 outlook deferred to earnings press release / call.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.