McKesson (MCK) FY2021 results: revenue $238.2 billion, up 3.1% on the year
McKesson Corp. (MCK) reported revenue of $238.2 billion for fiscal 2021, the year ended 31 March 2021, up 3.1% on the year before. Net income was -$4.5 billion, and diluted earnings per share $-28.26. The figures are the company's own, from the 10-K it filed with the SEC on 12 May 2021.
Revenue
$238.2 billion
+3.1% on the year
FY2014FY2021
Operating margin
-2.1%
1.1% a year earlier
FY2014FY2021
Net income
-$4.5 billion
FY2014FY2021
Diluted EPS
-$28.26
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
238,228
231,051
214,319
+3.1%
Cost of revenue
226,080
219,028
202,565
+3.2%
Gross profit
12,148
12,023
11,754
+1.0%
Gross margin
5.1%
5.2%
5.5%
Research and development
n/a
96.0
71.0
Selling, general and administrative
8,849
9,168
8,437
-3.5%
Operating income
-5,040
2,489
886
Operating margin
-2.1%
1.1%
0.4%
Interest expense
217
249
264
-12.9%
Pre-tax income
-5,034
1,144
610
Income tax
-695
18.0
356
Effective tax rate
n/a
1.6%
58.4%
Net income
-4,539
900
34.0
Net margin
-1.9%
0.4%
0.0%
Diluted EPS
-$28.26
$4.95
$0.17
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
4,542
4,374
4,036
+3.8%
Capital expenditure
451
362
426
+24.6%
Free cash flow
4,091
4,012
3,610
+2.0%
Free cash flow margin
1.7%
1.7%
1.7%
Cash from investing
-415
-579
-1,381
Cash from financing
-1,693
-2,734
-2,227
Depreciation and amortisation
344
335
317
+2.7%
Share-based compensation
151
119
95.0
+26.9%
Buybacks
742
1,934
1,639
-61.6%
Dividends paid
276
294
292
-6.1%
Dividend per share
$1.67
$1.62
$1.51
+3.1%
Diluted shares, weighted
161m
182m
197m
-11.8%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
-21.0
5,092
8,094
Non-controlling interest
196
217
193
-9.7%
Short-term borrowings
0.0
0.0
0.0
Debt
7,148
7,387
7,595
-3.2%
Operating lease liabilities
1,867
1,660
n/a
+12.5%
Finance lease liabilities
206
151
n/a
+36.4%
Other liabilities
55,619
46,740
43,790
+19.0%
Total liabilities and equity
65,015
61,247
59,672
+6.2%
Fixed assets
2,581
2,365
2,548
+9.1%
Goodwill
9,493
9,360
9,358
+1.4%
Intangible assets
2,878
3,156
3,689
-8.8%
Cash and equivalents
6,278
4,015
2,981
+56.4%
Receivables
19,181
19,950
18,246
-3.9%
Inventory
19,246
16,734
16,709
+15.0%
Other assets
5,358
5,667
6,141
-5.5%
Total assets
65,015
61,247
59,672
+6.2%
10-K for the year ended 31 March 2021, filed 12 May 2021: the filing.