McKesson
Distributes medicines while powering specialty care, medication access, and pharmacy operations.
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Profile
Distributes pharmaceuticals across the United States and Canada, combining wholesale logistics with oncology and specialty-practice services, medication-access technology, and medical-surgical supplies. The pharmaceutical network is the core, while the Medical-Surgical business is being prepared for separation as Wellverse.
Distributes branded, generic, specialty, biosimilar, and over-the-counter medicines across the United States and Canada through North American Pharmaceutical, while providing pharmacy operations, sourcing, inventory, and clinical services. Its distribution network and technology coordinate product availability for retail chains, community pharmacies, hospitals, and health systems.
Extends beyond wholesale through Oncology & Multispecialty, which combines specialty distribution, group purchasing, community oncology and ophthalmology practice platforms, research, and technology. Prescription Technology Solutions connects patients, providers, pharmacies, payers, and biopharma around prior authorization, affordability, adherence, and third-party logistics. Medical-Surgical Solutions supplies non-acute care settings.
Depends on high-volume, tightly regulated pharmaceutical flows, controlled-substance oversight, drug-traceability rules, and manufacturer and customer relationships. Medical-Surgical remains controlled and consolidated while its planned separation as Wellverse advances.
Company facts
Key statistics
Year to date +8.6% · Average volume (30d) 960.0K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 19, 2026 | Barclays | Reiterate | Overweight | $1,050 | $1,000 |
| Aug 19, 2026 | RBC Capital | Initiate | Sector Perform | $845 | |
| Aug 11, 2026 | Wells Fargo | Reiterate | Equal Weight | $772 | $933 |
| Aug 6, 2026 | Robert W. Baird | Target | $968 | $1,015 | |
| May 8, 2026 | UBS | Reiterate | Buy | $920 | $1,050 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q1 FY27 | $9.56 | $9.93 | +3.9% | $103.88B | $105.38B | +1.4% | −0.67% |
| May 7, 2026Q4 FY26 | $11.56 | $11.69 | +1.1% | $101.35B | $96.30B | −5.0% | −2.47% |
| Feb 4, 2026Q3 FY26 | $9.17 | $9.34 | +1.9% | $105.80B | $106.16B | +0.3% | +16.52% |
| Nov 5, 2025Q2 FY26 | $9.03 | $9.86 | +9.2% | $104.14B | $103.15B | −0.9% | +1.70% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $90.82B | $97.83B | $103.15B | $106.16B | $96.30B | $105.38B | |
| Gross profit | $2.92B | $3.28B | $3.54B | $3.69B | $4.04B | $3.69B | |
| Operating income | $1.04B | $1.04B | $1.47B | $1.62B | $2.25B | $1.32B | |
| Net income | $1.26B | $784.0M | $1.11B | $1.19B | $1.68B | $614.0M | |
| Diluted EPS | $10.01 | $6.25 | $8.92 | $9.59 | $13.71 | $5.15 | |
| Gross margin | 3.2% | 3.4% | 3.4% | 3.5% | 4.2% | 3.5% | |
| Operating margin | 1.1% | 1.1% | 1.4% | 1.5% | 2.3% | 1.3% |
Fiscal years (4-quarter sums)FY22 $263.97B · FY23 $276.71B · FY24 $308.95B · FY25 $359.05B · FY26 $403.43B
Revenue by product · Q1 FY27
Balance sheet, Jun 30, 2026Cash & short-term investments $5.16B · Total debt $11.70B · Total assets $88.33B · Shareholders' equity −$4.24B
Dividends
Raised for 26 straight years — most recently to $0.82 from $0.71 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jul 1 | $0.82 | |
| Mar 2, 2026 | Mar 2 | Apr 1 | $0.82 | |
| Dec 1, 2025 | Dec 1 | Jan 2 | $0.82 | |
| Sep 2, 2025 | Sep 2 | Oct 1 | $0.82 | raised from $0.71 |
| Jun 2, 2025 | Jun 2 | Jul 1 | $0.71 | |
| Mar 3, 2025 | Mar 3 | Apr 1 | $0.71 | |
| Dec 2, 2024 | Dec 2 | Jan 2 | $0.71 | |
| Aug 30, 2024 | Sep 2 | Oct 1 | $0.71 | raised from $0.62 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 117.08M · Float —
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 10.80M | 9.22% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 7.85M | 6.71% | 13F | Aug 13, 2026 |
| State Street Corp | 5.73M | 4.89% | 13F | Aug 7, 2026 |
| Morgan Stanley | 5.31M | 4.53% | 13F | Aug 13, 2026 |
| Franklin Resources Inc | 2.91M | 2.48% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 10, 2026 | Bradley E. Lerman | director | −301 | $892.33 |
| Jul 7, 2026 | Brian S. Tyler | director, officer: Chief Executive Officer | −8,463 | $793.56 |
| Jun 17, 2026 | Brian S. Tyler | director, officer: Chief Executive Officer | −8,463 | $775.13 |
| Jun 9, 2026 | Brian S. Tyler | director, officer: Chief Executive Officer | −4,929 | $763.00 |
| Jun 5, 2026 | Napoleon B. JR Rutledge | officer: SVP, Controller & CAO | −133 | $764.00 |
Peers
- Cencora
Nearest Big-Three peer; same drug-distribution model at $321B revenue scale.
- Cardinal Health
Third Big-Three distributor; pharma wholesale and med-surg supply overlap.
- CVS Health
Major US PBM and pharmacy; Caremark and CVS Specialty compete on drug access.
- Cigna
Express Scripts PBM and Accredo compete on prior auth and specialty access.
- UnitedHealth Group
Optum Rx and Optum Health compete with MCK's RxTS platform and oncology network.
- Henry Schein
Alternate-site medical-surgical distributor in the same non-acute care channel.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| McKesson | $887.21 | −0.76% | $104.60B | 23.9 | 19.3 | 0.3 | +7.7% |
| Cencora | $320.00 | −0.60% | $62.65B | 23.9 | 16.6 | 0.2 | +5.1% |
| Cardinal Health | $232.64 | −0.84% | $54.93B | 32.4 | 18.7 | 0.2 | +5.8% |
| CVS Health | $93.07 | +0.02% | $118.74B | 24.6 | 11.5 | 0.3 | +7.3% |
| Cigna | $279.20 | +0.06% | $73.69B | 11.5 | 8.8 | 0.3 | +6.6% |
| UnitedHealth Group | $392.50 | −0.12% | $356.86B | 25.3 | 18.4 | 0.8 | +0.4% |
| Henry Schein | $89.52 | +0.01% | $10.20B | 26.1 | 15.8 | 0.7 | +6.7% |
| Median | 24.9 | 16.2 | 0.3 | +6.2% |