McKesson (MCK) FY2016 results: revenue $190.9 billion, up 6.6% on the year
McKesson Corp. (MCK) reported revenue of $190.9 billion for fiscal 2016, the year ended 31 March 2016, up 6.6% on the year before. Net income was $2.3 billion, up 53.0%, and diluted earnings per share $9.70. The figures are the company's own, from the 10-K it filed with the SEC on 5 May 2016.
Revenue
$190.9 billion
+6.6% on the year
FY2009FY2016
Operating margin
1.9%
1.7% a year earlier
FY2009FY2016
Net income
$2.3 billion
+53.0% on the year
FY2009FY2016
Diluted EPS
$9.70
+54.7% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
190,884
179,045
137,609
+6.6%
Cost of revenue
179,468
167,634
129,040
+7.1%
Gross profit
11,416
11,411
8,352
+0.0%
Gross margin
6.0%
6.4%
6.1%
Research and development
392
392
457
0.0%
Selling, general and administrative
7,379
7,901
5,388
-6.6%
Operating income
3,545
2,968
2,439
+19.4%
Operating margin
1.9%
1.7%
1.8%
Pre-tax income
3,250
2,657
2,171
+22.3%
Income tax
908
815
757
+11.4%
Effective tax rate
27.9%
30.7%
34.9%
Net income
2,258
1,476
1,263
+53.0%
Net margin
1.2%
0.8%
0.9%
Diluted EPS
$9.70
$6.27
$5.41
+54.7%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
3,672
3,112
3,136
+18.0%
Capital expenditure
488
376
278
+29.8%
Free cash flow
3,184
2,736
2,858
+16.4%
Free cash flow margin
1.7%
1.5%
2.1%
Cash from investing
-1,557
-677
-5,046
Cash from financing
-3,453
-968
3,619
Depreciation and amortisation
885
1,017
735
-13.0%
Share-based compensation
123
174
160
-29.3%
Buybacks
1,612
450
130
+258.2%
Dividends paid
244
227
214
+7.5%
Dividend per share
$1.08
$0.96
$0.92
+12.5%
Diluted shares, weighted
233m
235m
233m
-0.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
8,924
8,001
8,522
+11.5%
Non-controlling interest
84.0
84.0
1,796
0.0%
Short-term borrowings
7.0
n/a
n/a
Debt
8,107
9,844
10,594
-17.6%
Other liabilities
39,441
35,941
30,847
+9.7%
Total liabilities and equity
56,563
53,870
51,759
+5.0%
Fixed assets
2,278
2,045
2,196
+11.4%
Goodwill
9,786
9,817
9,927
-0.3%
Intangible assets
3,021
3,441
4,871
-12.2%
Cash and equivalents
4,048
5,341
4,193
-24.2%
Receivables
17,980
15,914
13,780
+13.0%
Inventory
15,335
14,296
12,986
+7.3%
Other assets
4,115
3,016
3,806
+36.4%
Total assets
56,563
53,870
51,759
+5.0%
10-K for the year ended 31 March 2016, filed 5 May 2016: the filing.