McKesson (MCK) FY2018 results: revenue $208.4 billion, up 4.9% on the year
McKesson Corp. (MCK) reported revenue of $208.4 billion for fiscal 2018, the year ended 31 March 2018, up 4.9% on the year before. Net income was $67 million, down 98.7%, and diluted earnings per share $0.32. The figures are the company's own, from the 10-K it filed with the SEC on 15 May 2019.
Revenue
$208.4 billion
+4.9% on the year
FY2011FY2018
Operating margin
0.4%
3.6% a year earlier
FY2011FY2018
Net income
$67 million
-98.7% on the year
FY2011FY2018
Diluted EPS
$0.32
-98.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
208,357
198,533
190,884
+4.9%
Cost of revenue
197,173
187,262
179,468
+5.3%
Gross profit
11,184
11,271
11,416
-0.8%
Gross margin
5.4%
5.7%
6.0%
Research and development
125
341
392
-63.3%
Selling, general and administrative
8,138
7,447
7,379
+9.3%
Operating income
762
7,109
3,545
-89.3%
Operating margin
0.4%
3.6%
1.9%
Interest expense
283
n/a
n/a
Pre-tax income
239
6,891
3,250
-96.5%
Income tax
-53.0
1,614
908
Effective tax rate
-22.2%
23.4%
27.9%
Net income
67.0
5,070
2,258
-98.7%
Net margin
0.0%
2.6%
1.2%
Diluted EPS
$0.32
$22.73
$9.70
-98.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
4,345
4,744
3,672
-8.4%
Capital expenditure
405
404
488
+0.2%
Free cash flow
3,940
4,340
3,184
-9.2%
Free cash flow margin
1.9%
2.2%
1.7%
Cash from investing
-2,993
-3,269
-1,557
Cash from financing
-3,084
-2,069
-3,453
Depreciation and amortisation
951
910
885
+4.5%
Share-based compensation
69.0
115
123
-40.0%
Buybacks
1,709
2,311
1,612
-26.0%
Dividends paid
262
253
244
+3.6%
Dividend per share
$1.30
$1.12
$1.08
+16.1%
Diluted shares, weighted
209m
223m
233m
-6.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
9,804
11,095
8,924
-11.6%
Non-controlling interest
253
178
84.0
+42.1%
Short-term borrowings
0.0
n/a
7.0
Debt
7,880
8,545
8,107
-7.8%
Other liabilities
42,444
41,151
39,441
+3.1%
Total liabilities and equity
60,381
60,969
56,563
-1.0%
Fixed assets
2,464
2,292
2,278
+7.5%
Goodwill
10,924
10,586
9,786
+3.2%
Intangible assets
4,102
3,665
3,021
+11.9%
Cash and equivalents
2,672
2,783
4,048
-4.0%
Receivables
17,711
18,215
17,980
-2.8%
Inventory
16,310
15,278
15,335
+6.8%
Other assets
6,198
8,150
4,115
-24.0%
Total assets
60,381
60,969
56,563
-1.0%
10-K for the year ended 31 March 2018, filed 15 May 2019: the filing.