McKesson (MCK) FY2013 results: revenue $122.2 billion, down 0.1% on the year
McKesson Corp. (MCK) reported revenue of $122.2 billion for fiscal 2013, the year ended 31 March 2013, down 0.1% on the year before. Net income was $1.3 billion, down 4.6%, and diluted earnings per share $5.59. The figures are the company's own, from the 10-K it filed with the SEC on 7 May 2013.
Revenue
$122.2 billion
-0.1% on the year
FY2008FY2013
Operating margin
1.9%
1.7% a year earlier
FY2008FY2013
Net income
$1.3 billion
-4.6% on the year
FY2008FY2013
Diluted EPS
$5.59
0.0% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
122,196
122,321
112,084
-0.1%
Cost of revenue
115,471
115,919
106,114
-0.4%
Gross profit
6,881
6,402
5,970
+7.5%
Gross margin
5.6%
5.2%
5.3%
Research and development
433
402
407
+7.7%
Selling, general and administrative
4,110
3,727
n/a
+10.3%
Operating income
2,347
2,124
1,821
+10.5%
Operating margin
1.9%
1.7%
1.6%
Pre-tax income
1,950
1,893
1,635
+3.0%
Income tax
587
514
505
+14.2%
Effective tax rate
30.1%
27.2%
30.9%
Net income
1,338
1,403
1,202
-4.6%
Net margin
1.1%
1.1%
1.1%
Diluted EPS
$5.59
$5.59
$4.57
0.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
2,483
2,950
2,338
-15.8%
Capital expenditure
241
221
233
+9.0%
Free cash flow
2,242
2,729
2,105
-17.8%
Free cash flow margin
1.8%
2.2%
1.9%
Cash from investing
-2,209
-1,502
-624
Cash from financing
-956
-1,905
-1,841
Depreciation and amortisation
581
493
496
+17.8%
Share-based compensation
167
154
137
+8.4%
Buybacks
1,214
1,874
2,050
-35.2%
Dividends paid
194
195
171
-0.5%
Dividend per share
$0.80
$0.80
$0.72
0.0%
Diluted shares, weighted
239m
251m
263m
-4.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
7,070
6,831
7,220
+3.5%
Non-controlling interest
0.0
n/a
n/a
Short-term borrowings
0.0
n/a
n/a
Debt
4,873
3,980
4,004
+22.4%
Other liabilities
22,843
22,282
19,662
+2.5%
Total liabilities and equity
34,786
33,093
30,886
+5.1%
Fixed assets
1,321
1,043
991
+26.7%
Goodwill
6,405
5,032
4,364
+27.3%
Intangible assets
2,270
1,750
1,456
+29.7%
Cash and equivalents
2,456
3,149
3,612
-22.0%
Receivables
9,975
9,977
9,187
-0.0%
Inventory
10,335
10,073
9,225
+2.6%
Other assets
2,024
2,069
2,051
-2.2%
Total assets
34,786
33,093
30,886
+5.1%
10-K for the year ended 31 March 2013, filed 7 May 2013: the filing.