McKesson (MCK) FY2015 results: revenue $179.0 billion, up 30.1% on the year
McKesson Corp. (MCK) reported revenue of $179.0 billion for fiscal 2015, the year ended 31 March 2015, up 30.1% on the year before. Net income was $1.5 billion, up 16.9%, and diluted earnings per share $6.27. The figures are the company's own, from the 10-K it filed with the SEC on 12 May 2015.
Revenue
$179.0 billion
+30.1% on the year
FY2008FY2015
Operating margin
1.7%
1.8% a year earlier
FY2008FY2015
Net income
$1.5 billion
+16.9% on the year
FY2008FY2015
Diluted EPS
$6.27
+15.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
179,045
137,609
122,196
+30.1%
Cost of revenue
167,634
129,040
115,471
+29.9%
Gross profit
11,411
8,352
6,881
+36.6%
Gross margin
6.4%
6.1%
5.6%
Research and development
392
457
433
-14.2%
Selling, general and administrative
7,901
5,388
4,110
+46.6%
Operating income
2,968
2,439
2,347
+21.7%
Operating margin
1.7%
1.8%
1.9%
Pre-tax income
2,657
2,171
1,950
+22.4%
Income tax
815
757
587
+7.7%
Effective tax rate
30.7%
34.9%
30.1%
Net income
1,476
1,263
1,338
+16.9%
Net margin
0.8%
0.9%
1.1%
Diluted EPS
$6.27
$5.41
$5.59
+15.9%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
3,112
3,136
2,483
-0.8%
Capital expenditure
376
278
241
+35.3%
Free cash flow
2,736
2,858
2,242
-4.3%
Free cash flow margin
1.5%
2.1%
1.8%
Cash from investing
-677
-5,046
-2,209
Cash from financing
-968
3,619
-956
Depreciation and amortisation
1,017
735
581
+38.4%
Share-based compensation
174
160
167
+8.8%
Buybacks
450
130
1,214
+246.2%
Dividends paid
227
214
194
+6.1%
Dividend per share
$0.96
$0.92
$0.80
+4.3%
Diluted shares, weighted
235m
233m
239m
+0.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
8,001
8,522
7,070
-6.1%
Non-controlling interest
84.0
1,796
0.0
-95.3%
Short-term borrowings
n/a
n/a
0.0
Debt
9,844
10,594
4,873
-7.1%
Other liabilities
35,941
30,847
22,843
+16.5%
Total liabilities and equity
53,870
51,759
34,786
+4.1%
Fixed assets
2,045
2,196
1,321
-6.9%
Goodwill
9,817
9,927
6,405
-1.1%
Intangible assets
3,441
4,871
2,270
-29.4%
Cash and equivalents
5,341
4,193
2,456
+27.4%
Receivables
15,914
13,780
9,975
+15.5%
Inventory
14,296
12,986
10,335
+10.1%
Other assets
3,016
3,806
2,024
-20.8%
Total assets
53,870
51,759
34,786
+4.1%
10-K for the year ended 31 March 2015, filed 12 May 2015: the filing.