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How McKesson (MCK) makes money: Q1 FY2027 revenue breakdown
US GAAP · $M · vs Q1 FY2026 · quarter ended 06/30/2026
McKesson Corporation is an American publicly traded company that distributes pharmaceuticals and provides health information technology, medical supplies, and health management tools. · Wikipedia
More about the company
The company delivers a third of all pharmaceutical products used or consumed in North America and employs over 80,000 employees. With $308.9 billion in 2024 revenue, it is the ninth-largest company by revenue in the United States and the nation's largest health care company. The company is headquartered in Irving, Texas. It is a component of the S&P 500 and is listed on the New York Stock Exchange, where it is traded under the ticker symbol "MCK".
Key growth driver: Oncology & Multispecialty — the fastest-growing revenue line: $14,200, +33% y/y. · by the Q1 FY2027 report
How does McKesson make money?
McKesson brought in $105 billion of revenue in Q1 FY2027, up 7.7% year over year. The largest source was North American Pharmaceutical: ≈$86.8 billion, or 82% of the total, followed by Oncology & Multispecialty (≈$14.2B, 13%) and Medical-Surgical (≈$2.78B, 3%); other lines add the remaining 2%. Net income for the quarter was $1.03 billion, up 24.2% year over year.
Revenue by source, Q1 FY2027
- North American Pharmaceutical≈$86.8B · 82% · +5%
- Oncology & Multispecialty≈$14.2B · 13% · +33%
- Medical-Surgical≈$2.78B · 3% · +4%
- Prescription Tech≈$1.60B · 2% · +9%
Shares of $105B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is MCK’s next earnings date?
Wednesday, November 4, 2026confirmed · after market close
McKesson (MCK) is scheduled to report results for the quarter ending Sep 2026 on Nov 4, 2026. Consensus EPS forecast: $10.72 (5 analysts), vs $9.86 in the same quarter last year.
What time does MCK report? Usually after market close: the last 4 results releases reached the SEC at 4:06 pm, 4:07 pm, 4:05 pm, 4:05 pm ET.
Last report: Aug 5, 2026 (Q1 FY2027) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$105,380
+7.7%
Gross profit
$3,685
+12.4%
3.5% margin
Operating income
$1,319
+27.3%
1.25% of revenue
Net income
$1,032
+24.2%
Verdict: the distributor's razor-thin machine ran faster and better — revenue +8%, operating income +27%, adjusted EPS +20% — while the headline 22% drop in net income to shareholders is accounting noise: a one-time $293M redemption-value adjustment for the Medical-Surgical minority stake sold to Apollo ahead of the Wellverse spin-off.
Quarter used $220M of operating cash (seasonal working capital; FCF −$372M); returned $2.6B to shareholders ($2.5B buybacks incl. ASR). Dividend raised 15% to $0.94/sh — tenth consecutive annual increase. FY2027 adjusted EPS guidance raised to $44.20-45.00.
Source and notation
* marks non-cash / ≈ estimated. Segment revenues are press-release approximations. Source: McKesson press release 8-K EX-99.1 (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
MCK earnings history: past report dates
| Aug 5, 2026 Wed | 4:06 pmafter market close | Jun 30, 2026 | $105B+8% y/y | $5.15−18% y/y |
| May 7, 2026 Thu | 4:07 pmafter market close | Mar 31, 2026 | ≈$96.3B+6% y/y | ≈$13.62+38% y/y |
| Feb 4, 2026 Wed | 4:05 pmafter market close | Dec 31, 2025 | $106B+11% y/y | $9.59+38% y/y |
| Nov 5, 2025 Wed | 4:05 pmafter market close | Sep 30, 2025 | $103B+10% y/y | $8.92+377% y/y |
| Aug 6, 2025 Wed | 4:06 pmafter market close | Jun 30, 2025 | $97.8B+23% y/y | $6.25−11% y/y |
| May 8, 2025 Thu | 4:06 pmafter market close | Mar 31, 2025 | ≈$90.8B+19% y/y | ≈$9.90+64% y/y |
| Feb 5, 2025 Wed | 4:05 pmafter market close | Dec 31, 2024 | $95.3B+18% y/y | $6.95+57% y/y |
| Nov 6, 2024 Wed | 4:05 pmafter market close | Sep 30, 2024 | $93.7B+21% y/y | $1.87−62% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
McKesson: 5-year financials
| FY2026 | 403,430 | 6,212 | 4,762 | 5,719 | 381 |
| FY2025 | 359,051 | 4,422 | 3,295 | 5,548 | 345 |
| FY2024 | 308,951 | 3,909 | 3,002 | 3,883 | 314 |
| FY2023 | 276,711 | 4,381 | 3,560 | 4,769 | 292 |
| FY2022 | 263,966 | 2,038 | 1,114 | 4,046 | 277 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1.5/2mostly good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- May 2023McKesson settled the Evanston Police Pension Fund shareholder class action (earnings inflated in 2013–2017 by a generic-drug price-fixing conspiracy) for $141M, paid by insurers in February 2023. sec.gov ↗
- May 2026FY2026 10-K: a single class of common stock; diluted share count −22.7% over 5 years, dividend up from $1.67 to $3.17. sec.gov ↗
- Jun 20262026 proxy: there were no reportable related-party transactions in FY2026. sec.gov ↗
Scoring: 2.0 −0.5 (criterion 9: Evanston shareholder class action over concealed generic-drug price fixing settled for $141M, 2022–2023) = 1.5
- Share classes
- Single class — MCK common stock on the NYSE (cover of FY2026 10-K); everything else is notes.
- Dilution
- Diluted share count FY2021→FY2026 −22.7% (XBRL); SBC 0.1% of revenue.
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- Dividend raised every year: $1.67 (FY2021) → $3.17 (FY2026); buybacks of $3–4.8B a year.
- Lawsuits & regulators
- Evanston Police Pension Fund suit (10(b), 2018) settled for $141M (insurance-funded, no admission) → −0.5; the HBOC suits (settled 2005–2006) are older than 15 years and not counted; opioid settlements are not shareholder suits — no deduction.
- Related parties
- 2026 proxy: "there were no reportable related-party transactions in FY2026."
How the score works · checked as of Sep 2026
McKesson (MCK) earnings: FAQ
How does McKesson make money?
McKesson brought in $105 billion of revenue in Q1 FY2027, up 7.7% year over year. The largest source was North American Pharmaceutical: ≈$86.8 billion, or 82% of the total, followed by Oncology & Multispecialty (≈$14.2B, 13%) and Medical-Surgical (≈$2.78B, 3%); other lines add the remaining 2%. Net income for the quarter was $1.03 billion, up 24.2% year over year.
When is MCK's next earnings date?
McKesson (MCK) is scheduled to report on Nov 4, 2026, after market close.
What time does MCK report earnings?
McKesson is scheduled to report after market close on Nov 4, 2026. Its last results releases were filed after market close, most recently at 4:06 pm ET on Aug 5, 2026.
When did MCK last report earnings?
McKesson reported Q1 FY2027 results on Aug 5, 2026.
What is the EPS estimate for MCK's next earnings?
The consensus EPS forecast is $10.72 (5 analysts), vs $9.86 in the same quarter last year.
Where can I find McKesson's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to MCK's filings; this page breaks the latest report down in a Sankey chart.
What was MCK's net income in Q1 FY2027?
McKesson reported net income of $1,032M for Q1 FY2027 (+24.2% year over year), under US GAAP.
Does McKesson pay dividends?
Yes. In fiscal 2026, McKesson paid $381M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/26/2026. How we make the breakdowns · Report an error
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