McKesson Corporation
Financial Performance
McKesson Revenue & Financials
Revenue
$403.4B (FY2026)
Employees
43,000
What is McKesson's revenue?
McKesson had $403.4B in revenue for fiscal year 2026, up 12.3% from 2025.
- Latest revenue
- $403.4B (FY2026)
- Year-over-year
- +12.3%
- Growth rate (CAGR)
- 14.3% over 2 years
- Peak revenue
- $403.4B (FY2026)
- Years of data
- 3
- Employees
- 43,000
- How many employees does McKesson have?
- McKesson has about 43,000 employees.
Financial Analysis
McKesson reported fiscal 2026 revenue of $403.4 billion, up 12%, operating cash flow of $6.2 billion, and free cash flow of $5.4 billion. North American Pharmaceutical produced $336.7 billion of revenue; Oncology & Multispecialty produced $48.4 billion; Prescription Technology Solutions produced $5.8 billion; and Medical-Surgical Solutions produced $11.5 billion. Revenue should be read alongside segment profit and cash flow because distribution and retail represented about 98% of consolidated revenue but operate on thin margins.
Revenue Trend Analysis
YoY Change
+12.3%
2-Year CAGR
+14.3%
Peak Year
2026
Trend
Not enough comparable years
McKesson Corporation has 3 full fiscal year figures on this page, compounding at +14.3% annually over 2 years. The most recent year saw a 12.3% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at $403.4B. Of 2 comparable year-over-year steps, 2 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | YoY Change | Source |
|---|---|---|---|
| FY2026 | $403.4B | +12.3% | McKesson FY2026 results |
| FY2025 | $359.1B | +16.2% | McKesson FY2025 results |
| FY2024 | $309B | — | McKesson Form 10-K |
Click any row to see year details.
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McKesson Revenue and Financial FAQ
What is McKesson Corporation's annual total revenue and Fortune 500 ranking?
McKesson Corporation reported revenue of $403.4 billion for fiscal year 2026, up from $359.1 billion in fiscal 2025.
What are McKesson's profit margins and adjusted operating profit?
Because McKesson is an ultra-high-volume distributor, its net profit margins are typically between 0.8% and 1.2%. However, on hundreds of billions in revenue, McKesson generates adjusted operating profit of $4.5 billion to $5.2 billion and adjusted diluted earnings per share (EPS) exceeding $30.00 to $33.00.
What is McKesson's capital allocation strategy regarding share repurchases and dividends?
McKesson generates strong free cash flow ($3.5B to $4.5B annually) and returns the vast majority to shareholders through aggressive share buybacks, having retired over 30% of its outstanding share count over the past decade, alongside steady, increasing quarterly cash dividends.
How did McKesson resolve and financially provision for national opioid litigation?
In 2022, McKesson, alongside AmerisourceBergen (Cencora) and Cardinal Health, finalized a comprehensive $19.5 billion nationwide opioid settlement agreement with US state attorneys general and local governments. McKesson's share of the settlement (~$7.4 billion) is being paid out over an 18-year schedule, funded through ongoing operating cash flows.
What was the financial impact of McKesson divesting its European healthcare businesses?
Between 2021 and 2024, McKesson executed a deliberate strategic divestiture of its European distribution assets (including LloydsPharmacy and pharmaceutical wholesale operations in France, Germany, the UK, and Italy), generating billions in net cash proceeds to reinvest into high-margin North American oncology and digital health services.
What credit rating does McKesson maintain on its corporate debt?
McKesson maintains investment-grade credit ratings from major rating agencies (Baa1 from Moody's and BBB+ from S&P Global), supported by stable pharmaceutical demand, strong interest coverage ratios, and conservative debt leverage management.
How do specialty pharmaceuticals impact McKesson's revenue mix and margin profile?
Specialty pharmaceuticals account for an increasing portion of McKesson's U.S. Pharmaceutical revenue (over $100 billion). While specialty drugs carry lower percentage distribution margins due to high unit costs, they generate higher absolute dollar margins and drive demand for McKesson's clinical support and hub services.
What is McKesson's working capital management cycle and cash conversion efficiency?
McKesson manages a tight cash conversion cycle (often under 5 to 7 days), rapidly turning over multi-billion-dollar pharmaceutical inventories and balancing accounts receivable from hospital systems against accounts payable to global drug manufacturers.
How much did McKesson pay in the opioid settlement?
It was a massive financial blow. Because McKesson physically distributed millions of highly addictive prescription opioids, they (along with Cardinal Health and AmerisourceBergen) were heavily sued by state governments for fueling the crisis. In 2021, the three distributors agreed to a highly historic, massive $21 billion national settlement (with McKesson paying roughly $7.4 billion) to resolve the litigation and protect their future financials.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "McKesson Revenue & Financials." CorpDigest, https://corpdigest.com/company/mckesson/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>McKesson reported $403.4B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/mckesson/financials" target="_blank" rel="noopener">CorpDigest — McKesson financials</a></div>Related Financial Audits
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