McKesson Corporation (MCK) Key Metrics
MCK valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $117.15B
- Enterprise value
- $101.89B
- P/E (TTM)
- 26.9 10-yr median 26.2
- Forward P/E
- 19.7
- PEG ratio
- 1.66
- Price / sales
- 0.3 10-yr median 0.2
- Price / book
- 5.0 10-yr median 2.6
- EV / EBITDA
- 19.6 10-yr median 15.6
- Dividend yield
- 0.37% $3.76 a year
- Beta
- 0.30
MCK key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsMCK valuation Price multiples at each fiscal year-end price.
MCK returns How much profit the business earns on the capital it uses.
MCK per-share figures Results divided by the shares outstanding at year-end.
MCK financial health Debt, liquidity and how easily interest is covered.
MCK efficiency & capital use Working capital cycle and where the cash goes.
MCK valuation history
MCK returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MCK debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MCK cash returned to shareholders
MCK price vs earnings per share
MCK key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $107.39B | $86.21B | $71.99B | $50.63B | $47.17B | $31.32B | $24.62B | $23.10B | $29.44B | $33.06B |
| Enterprise value | $112.03B | $87.91B | $74.80B | $53.25B | $51.18B | $34.45B | $30.00B | $27.71B | $34.65B | $38.82B |
| P/E ratio | 22.6 | 26.2 | 24.0 | 14.2 | 42.3 | — | 27.4 | 679.3 | 439.4 | 6.4 |
| Price / sales | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 |
| Price / book | — | — | — | — | — | 21.7 | 3.7 | 2.4 | 2.6 | 2.6 |
| Price / free cash flow | 19.9 | 16.5 | 19.8 | 11.0 | 12.1 | 8.0 | 6.4 | 6.6 | 7.8 | 7.9 |
| Price / operating cash flow | 17.4 | 14.2 | 16.7 | 9.8 | 10.6 | 6.9 | 5.6 | 5.7 | 6.8 | 7.0 |
| EV / sales | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 |
| EV / EBITDA | 15.6 | 16.7 | 16.0 | 9.7 | 17.9 | — | 13.0 | 15.2 | 23.5 | 4.8 |
| EV / free cash flow | 20.7 | 16.8 | 20.6 | 11.6 | 13.1 | 8.8 | 7.8 | 8.0 | 9.2 | 9.3 |
| Earnings yield | 4.4% | 3.8% | 4.2% | 7.0% | 2.4% | −14.5% | 3.7% | 0.1% | 0.2% | 15.7% |
| Free cash flow yield | 5.0% | 6.1% | 5.0% | 9.1% | 8.3% | 12.5% | 15.7% | 15.1% | 12.8% | 12.6% |
| Dividend yield | 0.4% | 0.4% | 0.4% | 0.6% | 0.6% | 0.9% | 1.2% | 1.3% | 0.9% | 0.8% |
| Shareholder yield (dividends + buybacks) | 4.8% | 4.0% | 4.6% | 7.8% | 8.0% | 3.3% | 9.1% | 8.4% | 6.7% | 7.8% |
| Share price at fiscal year-end | $865.36 | $672.99 | $536.85 | $356.05 | $306.13 | $195.04 | $135.26 | $117.06 | $140.87 | $148.26 |
| Per share | ||||||||||
| Revenue per share | $3,250.85 | $2,802.90 | $2,303.89 | $1,945.93 | $1,712.95 | $1,483.36 | $1,269.51 | $1,086.26 | $996.92 | $890.28 |
| Earnings per share | $38.37 | $25.72 | $22.39 | $25.04 | $7.23 | −$28.26 | $4.95 | $0.17 | $0.32 | $23.24 |
| Operating cash flow per share | $49.60 | $47.50 | $32.17 | $36.28 | $28.77 | $28.28 | $24.03 | $20.46 | $20.79 | $21.27 |
| Free cash flow per share | $43.59 | $40.80 | $27.05 | $32.36 | $25.30 | $24.29 | $21.25 | $17.63 | $18.01 | $18.75 |
| Cash per share | $32.03 | $44.43 | $34.18 | $32.90 | $22.92 | $39.09 | $22.06 | $15.11 | $12.78 | $12.48 |
| Book value per share | −$17.50 | −$13.22 | −$11.92 | −$10.48 | −$11.63 | $9.00 | $36.87 | $49.06 | $55.10 | $56.50 |
| Tangible book value per share | −$141.56 | −$102.89 | −$103.21 | −$96.44 | −$86.32 | −$68.03 | −$31.90 | −$17.07 | −$16.79 | −$7.40 |
| Dividends per share | $3.07 | $2.69 | $2.34 | $2.05 | $1.80 | $1.72 | $1.62 | $1.48 | $1.25 | $1.13 |
| Capex per share | $6.00 | $6.71 | $5.12 | $3.92 | $3.47 | $3.99 | $2.78 | $2.82 | $2.78 | $2.52 |
| Debt per share | $69.41 | $57.69 | $55.11 | $51.30 | $48.94 | $58.56 | $51.65 | $38.49 | $37.70 | $38.32 |
| Shares outstanding | 124.1M | 128.1M | 134.1M | 142.2M | 154.1M | 160.6M | 182.0M | 197.3M | 209.0M | 223.0M |
| Change in shares outstanding | −3.1% | −4.5% | −5.7% | −7.7% | −4.0% | −11.8% | −7.8% | −5.6% | −6.3% | −4.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | — | — | — | −111.3% | 11.0% | 0.3% | 0.6% | 45.0% |
| Return on invested capital (ROIC) | 429.4% | 575.7% | 280.5% | 214.2% | 53.7% | 33.3% | 22.5% | 9.9% | 16.7% | 15.6% |
| Return on assets (ROA) | 6.0% | 4.6% | 4.6% | 5.7% | 1.7% | −7.2% | 1.5% | 0.1% | 0.1% | 8.8% |
| Return on tangible assets | 7.1% | 5.2% | 5.4% | 7.1% | 2.2% | −8.6% | 1.8% | 0.1% | 0.1% | 11.1% |
| Free cash flow margin | 1.3% | 1.5% | 1.2% | 1.7% | 1.5% | 1.6% | 1.7% | 1.6% | 1.8% | 2.1% |
| Income quality (OCF / net income) | 1.29 | 1.85 | 1.44 | 1.45 | 3.98 | — | 4.86 | 118.71 | 64.85 | 0.92 |
| Financial health | ||||||||||
| Total debt | $8.61B | $7.39B | $7.39B | $7.29B | $7.54B | $9.40B | $9.40B | $7.59B | $7.88B | $8.54B |
| Cash & short-term investments | $3.98B | $5.69B | $4.58B | $4.68B | $3.53B | $6.28B | $4.01B | $2.98B | $2.67B | $2.78B |
| Net debt | $4.64B | $1.70B | $2.81B | $2.62B | $4.01B | $3.13B | $5.39B | $4.61B | $5.21B | $5.76B |
| Debt / equity | — | — | — | — | — | 6.50 | 1.40 | 0.78 | 0.68 | 0.68 |
| Debt / assets | 0.10 | 0.10 | 0.11 | 0.12 | 0.12 | 0.14 | 0.15 | 0.13 | 0.13 | 0.14 |
| Net debt / EBITDA | 0.65 | 0.32 | 0.60 | 0.48 | 1.40 | — | 2.33 | 2.53 | 3.54 | 0.71 |
| Current ratio | 0.85 | 0.90 | 0.92 | 0.92 | 0.95 | 1.03 | 0.99 | 1.02 | 1.01 | 1.04 |
| Quick ratio | 0.49 | 0.53 | 0.51 | 0.51 | 0.57 | 0.59 | 0.60 | 0.58 | 0.57 | 0.61 |
| Interest coverage | 26.1 | 17.1 | 16.2 | 18.0 | 15.3 | 16.2 | 12.1 | 11.7 | 10.3 | 10.9 |
| Working capital | −$9.81B | −$6.21B | −$4.39B | −$3.67B | −$2.23B | $1.28B | −$402.0M | $839.0M | $451.0M | $1.34B |
| Invested capital | $2.47B | $5.0M | $1.21B | $1.13B | $2.22B | $4.57B | $12.10B | $14.29B | $16.72B | $18.36B |
| Tangible asset value | −$16.23B | −$13.18B | −$13.84B | −$13.71B | −$13.30B | −$10.93B | −$5.80B | −$3.37B | −$3.51B | −$1.65B |
| Net current asset value | −$25.95B | −$21.44B | −$21.07B | −$19.52B | −$18.86B | −$18.19B | −$12.31B | −$11.53B | −$11.73B | −$11.42B |
| Graham number | — | — | — | — | — | — | $64.05 | $13.79 | $19.94 | $171.89 |
| Graham net-net per share | −$371.39 | −$315.46 | −$280.93 | −$244.23 | −$248.34 | −$207.24 | −$149.40 | −$126.57 | −$118.44 | −$108.90 |
| Capital allocation | ||||||||||
| Dividends paid | $381.0M | $345.0M | $314.0M | $292.0M | $277.0M | $276.0M | $294.0M | $292.0M | $262.0M | $253.0M |
| Share buybacks (net) | $4.75B | $3.15B | $3.02B | $3.64B | $3.52B | $770.0M | $1.95B | $1.64B | $1.71B | $2.31B |
| Dividend payout ratio | 8.0% | 10.5% | 10.5% | 8.2% | 24.9% | — | 32.7% | 858.8% | 391.0% | 4.9% |
| Dividends + buybacks / free cash flow | 94.8% | 66.8% | 92.1% | 85.4% | 97.3% | 26.8% | 58.1% | 55.5% | 52.4% | 61.3% |
| Capex / revenue | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% | 0.2% | 0.3% | 0.3% | 0.3% |
| Capex / operating cash flow | 12.1% | 14.1% | 15.9% | 10.8% | 12.1% | 14.1% | 11.6% | 13.8% | 13.3% | 11.8% |
| Capex / depreciation | 1.02 | 1.35 | 1.08 | 0.92 | 0.70 | 0.72 | 0.55 | 0.59 | 0.61 | 0.62 |
| Stock-based compensation / revenue | — | — | 0.1% | 0.1% | 0.1% | 0.1% | 0.5% | 0.0% | 0.0% | 0.1% |
| R&D / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.2% |
| SG&A / revenue | 2.0% | 2.4% | 2.6% | 5.6% | 8.0% | 7.4% | 7.9% | 3.5% | 3.9% | 3.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 24.3 | 24.0 | 24.2 | 25.1 | 26.1 | 30.0 | 30.2 | 30.6 | 31.5 | 33.3 |
| Days of inventory on hand | 22.2 | 23.2 | 25.1 | 26.5 | 27.6 | 29.0 | 27.8 | 29.6 | 29.1 | 29.7 |
| Days payables outstanding | 54.1 | 53.9 | 55.1 | 55.5 | 56.0 | 61.3 | 59.0 | 59.2 | 58.3 | 57.9 |
| Cash conversion cycle (days) | -7.7 | -6.7 | -5.7 | -4.0 | -2.3 | -2.4 | -1.1 | 1.0 | 2.3 | 5.1 |
| Receivables turnover | 15.05 | 15.19 | 15.06 | 14.57 | 13.98 | 12.18 | 12.10 | 11.92 | 11.60 | 10.97 |
| Payables turnover | 6.75 | 6.77 | 6.62 | 6.57 | 6.52 | 5.95 | 6.18 | 6.17 | 6.26 | 6.30 |
| Inventory turnover | 16.48 | 15.70 | 14.54 | 13.80 | 13.25 | 12.60 | 13.14 | 12.33 | 12.53 | 12.27 |
| Asset turnover | 5.12 | 5.04 | 4.76 | 4.41 | 4.11 | 3.77 | 3.82 | 3.57 | 3.43 | 3.38 |
| Average receivables | $26.81B | $23.63B | $20.52B | $19.00B | $18.88B | $19.57B | $19.10B | $17.98B | $17.96B | $18.10B |
| Average payables | $57.65B | $51.21B | $44.79B | $40.29B | $38.53B | $38.09B | $35.52B | $33.02B | $31.60B | $29.80B |
| Average inventory | $23.60B | $22.07B | $20.41B | $19.20B | $18.97B | $17.99B | $16.72B | $16.51B | $15.79B | $15.31B |
| Intangibles / total assets | 18.7% | 15.3% | 18.2% | 19.6% | 18.2% | 19.0% | 20.4% | 21.9% | 24.9% | 23.4% |
Computed from MCK's annual financial statements (latest annual report filed May 8, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MCK valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), McKesson traded at 22.6 times earnings, against a 10-year median of 26.2. Based on the latest twelve months, the trailing P/E is 26.9 and the forward P/E is 19.7. McKesson earned a return on invested capital of 429.4% in fiscal 2026. It ended the year with $8.6 billion of debt and $4.0 billion in cash and short-term investments, net debt of $4.6 billion. It returned $5.1 billion to shareholders: $381.0 million in dividends and $4.8 billion in share buybacks, 95% of free cash flow. The share count fell 44.3% from 223.0M to 124.1M over 9 years.
See the MCK income statement, the MCK chart for price history, or the MCK stock overview for the latest quote and news.
MCK key metrics FAQ
What is McKesson's P/E ratio?
McKesson's trailing P/E ratio is 26.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 19.7. At the end of fiscal 2026 it was 22.6, compared with a 10-year median of 26.2.
What is McKesson's EV/EBITDA?
McKesson's enterprise value was 15.6 times EBITDA at the end of fiscal 2026 (enterprise value $112.0 billion, EBITDA $7.2 billion); the current EV/EBITDA is 19.6.
What is McKesson's ROIC?
McKesson's return on invested capital was 429.4% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does McKesson have?
McKesson had total debt of $8.6 billion at the end of fiscal 2026 and $4.6 billion of net debt (0.65 times EBITDA).
What is McKesson's dividend yield?
McKesson's forward dividend yield is 0.37%. McKesson paid $381.0 million in dividends in fiscal 2026 ($3.07 per share), a payout ratio of 8.0%.
Does McKesson buy back its shares?
Yes. McKesson spent $4.8 billion on net share repurchases in fiscal 2026 Shares outstanding changed −3.1% over the year, to 124.1M..
What is McKesson's free cash flow yield?
McKesson generated $5.4 billion of free cash flow in fiscal 2026, a free cash flow yield of 5.0% on its market value at year-end ($107.4 billion).
What is McKesson's current ratio?
McKesson's current ratio was 0.85 at the end of fiscal 2026: current assets were 0.85 times current liabilities.