MCK
McKesson Corporation
MCK's fundamentals are mixed: earnings per share grew 21%, while its operating margin held steady at 1.6%. At 28x earnings, it's trading in line with its usual 26x. Analysts expect earnings growth.
MCK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Strong |
MCK's profitability and balance sheet are currently healthy, and its revenue and cash flow are stable.
MCK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $654 | -39% |
| Forward | 22x | $1,077 | — |
| Fair | 26x | $1,019 | -5.4% |
| Current | 28x | $1,077 | — |
| Expensive | 31x | $1,206 | +12% |
Historical ranges are pointers, not guarantees.
MCK's PE is in its expensive range at 28x. If earnings grow as analysts expect, today's price would be 22x next year's earnings, in its cheap range.
MCK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MCK, with profitability holding steady.
MCK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $48.95 | +26% |
| Q3 2026 | $38.80 | +21% |
| Q2 2026 | $37.28 | +49% |
| Q1 2026 | $38.38 | +49% |
| Q4 2025 | $34.66 | +59% |
| Q3 2025 | $32.02 | +66% |
| Q2 2025 | $24.97 | +12% |
| Q1 2025 | $25.72 | +15% |
| Q4 2024 | $21.85 | -0.9% |
MCK earned $38.80 per share over the past year, up 21% from the year before.
MCK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $111B | +7.6% |
| Q2 2026 | $105.4B | +7.7% |
| Q1 2026 | $96.3B | +6% |
| Q4 2025 | $106.2B | +11% |
| Q3 2025 | $103.2B | +10% |
| Q2 2025 | $97.8B | +23% |
| Q1 2025 | $90.8B | +19% |
| Q4 2024 | $95.3B | +18% |
MCK's revenue has grown year over year every quarter since late 2020: $111B last quarter, up 7.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.4% | +0.1 points |
| Q2 2026 | 1.3% | +0.2 points |
| Q1 2026 | 2.2% | +0.5 points |
| Q4 2025 | 1.5% | +0.3 points |
| Q3 2025 | 1.4% | +0.7 points |
| Q2 2025 | 1.1% | -0.2 points |
| Q1 2025 | 1.8% | +0.2 points |
| Q4 2024 | 1.3% | +0.5 points |
MCK's operating margin was 1.4% last quarter, about level with the same quarter a year ago.
MCK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3B | +30% |
| Q2 2026 | -$332M | +$697M |
| Q1 2026 | $3.3B | -56% |
| Q4 2025 | $1.1B | +$3.6B |
| Q3 2025 | $2.3B | +18% |
| Q2 2025 | -$1B | +$457M |
| Q1 2025 | $7.6B | +91% |
| Q4 2024 | -$2.5B | -1630% |
MCK generated $7.1B in free cash flow over the past year, up 12% from the year before.
MCK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.1% | -2.5M shares |
| 1 year | -6.2% | -7.7M shares |
| 3 years | -13% | -18.1M shares |
| 5 years | -25% | -39.1M shares |
| Available history | -35% | -63.3M shares |
MCK has 117M diluted shares, down 6.2% from a year ago, with $6.8B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $894M |
| Q2 2026 | $2.5B |
| Q1 2026 | $2.7B |
| Q4 2025 | $680M |
| Q3 2025 | $818M |
| Q2 2025 | $581M |
| Q1 2025 | $300M |
| Q4 2024 | $827M |
MCK spent $6.8B buying back its own shares over the past year, up 168% from the year before.
MCK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.4x | Very low |
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 0.4x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 1.1x | Healthy |
| Q1 2025 | -0.0x | Net Cash |
| Q4 2024 | 1.5x | Healthy |
MCK's net debt is less than a year of its operating earnings (EBITDA).
MCK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 76.3 | Overbought |
| Stochastic | 82.8 | Overbought |
MCK's weekly RSI is 76 (overbought) and its Stochastic is 83 (overbought).
MCK PE vs Healthcare Sector
| Metric | MCK | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 26x | 7.4% above |
| PE % | 67 | 29 | 38 pts above |
MCK is trading at 28x earnings, in line with the Healthcare sector's median of 26x.
MCK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $980.7 | 9.8% above |
| 20 week MA | $906.6 | 19% above |
| 50 week MA | $865.9 | 24% above |
| 100 week MA | $781.2 | 38% above |
| 200 week MA | $628.8 | 71% above |
MCK is in an uptrend: it's above all five of its weekly moving averages, and 71% above its 200-week average.
MCK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $139.4 | $170.8 | +22% |
| 2021 | $170.8 | $240.8 | +41% |
| 2022 | $240.8 | $383.7 | +59% |
| 2023 | $383.7 | $463.0 | +21% |
| 2024 | $463.0 | $576.6 | +25% |
| 2025 | $576.6 | $828.3 | +44% |
| 2026 YTD | $828.3 | $1,077.1 | +30% |
MCK has finished every year since 2020 higher, and it's up 30% so far in 2026.