McKesson (MCK) FY2019 results: revenue $214.3 billion, up 2.9% on the year
McKesson Corp. (MCK) reported revenue of $214.3 billion for fiscal 2019, the year ended 31 March 2019, up 2.9% on the year before. Net income was $34 million, down 49.3%, and diluted earnings per share $0.17. The figures are the company's own, from the 10-K it filed with the SEC on 15 May 2019.
Revenue
$214.3 billion
+2.9% on the year
FY2012FY2019
Operating margin
0.4%
0.4% a year earlier
FY2012FY2019
Net income
$34 million
-49.3% on the year
FY2012FY2019
Diluted EPS
$0.17
-46.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
214,319
208,357
198,533
+2.9%
Cost of revenue
202,565
197,173
187,262
+2.7%
Gross profit
11,754
11,184
11,271
+5.1%
Gross margin
5.5%
5.4%
5.7%
Research and development
71.0
125
341
-43.2%
Selling, general and administrative
8,437
8,138
7,447
+3.7%
Operating income
886
762
7,109
+16.3%
Operating margin
0.4%
0.4%
3.6%
Interest expense
264
283
n/a
-6.7%
Pre-tax income
610
239
6,891
+155.2%
Income tax
356
-53.0
1,614
Effective tax rate
58.4%
-22.2%
23.4%
Net income
34.0
67.0
5,070
-49.3%
Net margin
0.0%
0.0%
2.6%
Diluted EPS
$0.17
$0.32
$22.73
-46.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,036
4,345
4,744
-7.1%
Capital expenditure
426
405
404
+5.2%
Free cash flow
3,610
3,940
4,340
-8.4%
Free cash flow margin
1.7%
1.9%
2.2%
Cash from investing
-1,381
-2,993
-3,269
Cash from financing
-2,227
-3,084
-2,069
Depreciation and amortisation
317
951
910
-66.7%
Share-based compensation
95.0
69.0
115
+37.7%
Buybacks
1,639
1,709
2,311
-4.1%
Dividends paid
292
262
253
+11.5%
Dividend per share
$1.51
$1.30
$1.12
+16.2%
Diluted shares, weighted
197m
209m
223m
-5.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
8,094
9,804
11,095
-17.4%
Non-controlling interest
193
253
178
-23.7%
Short-term borrowings
0.0
0.0
n/a
Debt
7,595
7,880
8,545
-3.6%
Other liabilities
43,790
42,444
41,151
+3.2%
Total liabilities and equity
59,672
60,381
60,969
-1.2%
Fixed assets
2,548
2,464
2,292
+3.4%
Goodwill
9,358
10,924
10,586
-14.3%
Intangible assets
3,689
4,102
3,665
-10.1%
Cash and equivalents
2,981
2,672
2,783
+11.6%
Receivables
18,246
17,711
18,215
+3.0%
Inventory
16,709
16,310
15,278
+2.4%
Other assets
6,141
6,198
8,150
-0.9%
Total assets
59,672
60,381
60,969
-1.2%
10-K for the year ended 31 March 2019, filed 15 May 2019: the filing.