McKesson (MCK) FY2020 results: revenue $231.1 billion, up 7.8% on the year
McKesson Corp. (MCK) reported revenue of $231.1 billion for fiscal 2020, the year ended 31 March 2020, up 7.8% on the year before. Net income was $900 million, up 2547.1%, and diluted earnings per share $4.95. The figures are the company's own, from the 10-K it filed with the SEC on 22 May 2020.
Revenue
$231.1 billion
+7.8% on the year
FY2013FY2020
Operating margin
1.1%
0.4% a year earlier
FY2013FY2020
Net income
$900 million
+2,547.1% on the year
FY2013FY2020
Diluted EPS
$4.95
+2,811.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
231,051
214,319
208,357
+7.8%
Cost of revenue
219,028
202,565
197,173
+8.1%
Gross profit
12,023
11,754
11,184
+2.3%
Gross margin
5.2%
5.5%
5.4%
Research and development
96.0
71.0
125
+35.2%
Selling, general and administrative
9,168
8,437
8,138
+8.7%
Operating income
2,489
886
762
+180.9%
Operating margin
1.1%
0.4%
0.4%
Interest expense
249
264
283
-5.7%
Pre-tax income
1,144
610
239
+87.5%
Income tax
18.0
356
-53.0
-94.9%
Effective tax rate
1.6%
58.4%
-22.2%
Net income
900
34.0
67.0
+2,547.1%
Net margin
0.4%
0.0%
0.0%
Diluted EPS
$4.95
$0.17
$0.32
+2,811.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,374
4,036
4,345
+8.4%
Capital expenditure
362
426
405
-15.0%
Free cash flow
4,012
3,610
3,940
+11.1%
Free cash flow margin
1.7%
1.7%
1.9%
Cash from investing
-579
-1,381
-2,993
Cash from financing
-2,734
-2,227
-3,084
Depreciation and amortisation
335
317
951
+5.7%
Share-based compensation
119
95.0
69.0
+25.3%
Buybacks
1,934
1,639
1,709
+18.0%
Dividends paid
294
292
262
+0.7%
Dividend per share
$1.62
$1.51
$1.30
+7.3%
Diluted shares, weighted
182m
197m
209m
-7.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,092
8,094
9,804
-37.1%
Non-controlling interest
217
193
253
+12.4%
Short-term borrowings
0.0
0.0
0.0
Debt
7,387
7,595
7,880
-2.7%
Operating lease liabilities
1,660
n/a
n/a
Finance lease liabilities
151
n/a
n/a
Other liabilities
46,740
43,790
42,444
+6.7%
Total liabilities and equity
61,247
59,672
60,381
+2.6%
Fixed assets
2,365
2,548
2,464
-7.2%
Goodwill
9,360
9,358
10,924
+0.0%
Intangible assets
3,156
3,689
4,102
-14.4%
Cash and equivalents
4,015
2,981
2,672
+34.7%
Receivables
19,950
18,246
17,711
+9.3%
Inventory
16,734
16,709
16,310
+0.1%
Other assets
5,667
6,141
6,198
-7.7%
Total assets
61,247
59,672
60,381
+2.6%
10-K for the year ended 31 March 2020, filed 22 May 2020: the filing.