McKesson (MCK) FY2017 results: revenue $198.5 billion, up 4.0% on the year
McKesson Corp. (MCK) reported revenue of $198.5 billion for fiscal 2017, the year ended 31 March 2017, up 4.0% on the year before. Net income was $5.1 billion, up 124.5%, and diluted earnings per share $22.73. The figures are the company's own, from the 10-K it filed with the SEC on 15 May 2019.
Revenue
$198.5 billion
+4.0% on the year
FY2010FY2017
Operating margin
3.6%
1.9% a year earlier
FY2010FY2017
Net income
$5.1 billion
+124.5% on the year
FY2010FY2017
Diluted EPS
$22.73
+134.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
198,533
190,884
179,045
+4.0%
Cost of revenue
187,262
179,468
167,634
+4.3%
Gross profit
11,271
11,416
11,411
-1.3%
Gross margin
5.7%
6.0%
6.4%
Research and development
341
392
392
-13.0%
Selling, general and administrative
7,447
7,379
7,901
+0.9%
Operating income
7,109
3,545
2,968
+100.5%
Operating margin
3.6%
1.9%
1.7%
Pre-tax income
6,891
3,250
2,657
+112.0%
Income tax
1,614
908
815
+77.8%
Effective tax rate
23.4%
27.9%
30.7%
Net income
5,070
2,258
1,476
+124.5%
Net margin
2.6%
1.2%
0.8%
Diluted EPS
$22.73
$9.70
$6.27
+134.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,744
3,672
3,112
+29.2%
Capital expenditure
404
488
376
-17.2%
Free cash flow
4,340
3,184
2,736
+36.3%
Free cash flow margin
2.2%
1.7%
1.5%
Cash from investing
-3,269
-1,557
-677
Cash from financing
-2,069
-3,453
-968
Depreciation and amortisation
910
885
1,017
+2.8%
Share-based compensation
115
123
174
-6.5%
Buybacks
2,311
1,612
450
+43.4%
Dividends paid
253
244
227
+3.7%
Dividend per share
$1.12
$1.08
$0.96
+3.7%
Diluted shares, weighted
223m
233m
235m
-4.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
11,095
8,924
8,001
+24.3%
Non-controlling interest
178
84.0
84.0
+111.9%
Short-term borrowings
n/a
7.0
n/a
Debt
8,545
8,107
9,844
+5.4%
Other liabilities
41,151
39,441
35,941
+4.3%
Total liabilities and equity
60,969
56,563
53,870
+7.8%
Fixed assets
2,292
2,278
2,045
+0.6%
Goodwill
10,586
9,786
9,817
+8.2%
Intangible assets
3,665
3,021
3,441
+21.3%
Cash and equivalents
2,783
4,048
5,341
-31.2%
Receivables
18,215
17,980
15,914
+1.3%
Inventory
15,278
15,335
14,296
-0.4%
Other assets
8,150
4,115
3,016
+98.1%
Total assets
60,969
56,563
53,870
+7.8%
10-K for the year ended 31 March 2017, filed 15 May 2019: the filing.