McKesson (MCK) FY2025 results: revenue $359.1 billion, up 16.2% on the year
McKesson Corp. (MCK) reported revenue of $359.1 billion for fiscal 2025, the year ended 31 March 2025, up 16.2% on the year before. Net income was $3.3 billion, up 9.8%, and diluted earnings per share $25.72. The figures are the company's own, from the 10-K it filed with the SEC on 9 May 2025.
Revenue
$359.1 billion
+16.2% on the year
FY2018FY2025
Operating margin
1.2%
1.3% a year earlier
FY2018FY2025
Net income
$3.3 billion
+9.8% on the year
FY2018FY2025
Diluted EPS
$25.72
+14.9% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
6,085
4,314
5,159
+41.1%
Capital expenditure
537
431
390
+24.6%
Free cash flow
5,548
3,883
4,769
+42.9%
Free cash flow margin
1.5%
1.3%
1.7%
Cash from investing
-733
-1,072
-542
Cash from financing
-3,965
-3,342
-4,368
Depreciation and amortisation
272
279
272
-2.5%
Share-based compensation
226
182
162
+24.2%
Buybacks
3,146
3,025
3,638
+4.0%
Dividends paid
345
314
292
+9.9%
Dividend per share
$2.75
$2.40
$2.09
+14.6%
Diluted shares, weighted
128m
134m
142m
-4.5%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
-2,074
-1,971
-1,857
Non-controlling interest
380
372
367
+2.2%
Short-term borrowings
n/a
0.0
0.0
Debt
5,654
5,629
5,594
+0.4%
Operating lease liabilities
1,478
1,466
1,402
+0.8%
Finance lease liabilities
163
163
173
0.0%
Other liabilities
69,539
61,784
56,641
+12.6%
Total liabilities and equity
75,140
67,443
62,320
+11.4%
Fixed assets
2,502
2,316
2,177
+8.0%
Goodwill
10,022
10,132
9,947
-1.1%
Intangible assets
1,464
2,110
2,277
-30.6%
Cash and equivalents
5,691
4,583
4,678
+24.2%
Receivables
25,643
21,622
19,410
+18.6%
Inventory
23,001
21,139
19,691
+8.8%
Other assets
6,817
5,541
4,140
+23.0%
Total assets
75,140
67,443
62,320
+11.4%
10-K for the year ended 31 March 2025, filed 9 May 2025: the filing.