McKesson (MCK) stock
Health Care · Health Care Distributors
McKesson (MCK) is a Health Care Distributors company in the Health Care sector, headquartered in Irving, Texas. As of October 23, 2026, MCK closed at $1,000.77, a market capitalization of $116.68 billion, the 107th largest company in the S&P 500. Over the last twelve months it generated $410.98 billion in revenue (+8% year over year) and $6.14 billion in free cash flow. The stock trades at 26.8x trailing earnings and 19.8x forward earnings.
- 1-year total return: +26.7% (dividends reinvested)
- 5-year return: +37.5% a year
- 52-week range: $723.68 – $1,030.27
- Gross margin 3.6%, operating margin 1.3%
- Dividend yield: 0.38%, 18 straight years of increases
- FI Handbook report card: C across 9 metrics
- 18th largest of 60 Health Care stocks in the S&P 500
MCK price chart
1Y price change: +26.2% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MCK | +13.7% | +22.4% | +26.7% | +31.1% | +37.5% | +21.0% | +14.7% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1994.
MCK key statistics
- Market cap
- $116.7B
- #107 in S&P 500
- P/E (TTM)
- 26.8x
- Forward P/E
- 19.8x
- EPS (TTM)
- $37.31
- Revenue (TTM)
- $411.0B
- +8%
- Free cash flow
- $6.1B
- Gross margin
- 3.6%
- Operating margin
- 1.3%
- Return on equity
- —
- Dividend yield
- 0.38%
- 52-week range
- $723.68 – $1,030
- Beta
- 0.30
- Price / sales
- 0.3x
- EV / EBITDA
- 17.9x
- Debt / equity
- —
- Employees
- 41,600
MCK report card
CTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth7.7%C
- Gross margin3.6%F
- Operating margin1.3%D
- FCF margin1.5%D
- Return on equity——
- Net debt / EBITDA0.9xB
- Forward P/E19.8xB
- PEG ratio1.9xC
- Shareholder yield4.4%B
- Share count change / yr-5.0%A
McKesson financials
Revenue went from $198.5B in fiscal 2017 to $403.4B in fiscal 2026, growing 8.2% a year.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $198.5B | $208.4B | $214.3B | $231.1B | $238.2B | $264.0B | $276.7B | $309.0B | $359.1B | $403.4B |
| Gross profit | $11.3B | $11.2B | $11.8B | $12.0B | $12.1B | $13.1B | $12.4B | $12.8B | $13.3B | $14.6B |
| Operating income | $7.1B | $762.0M | $886.0M | $2.5B | -$5.0B | $2.0B | $4.4B | $3.9B | $4.4B | $6.2B |
| Net income | $5.1B | $67.0M | $34.0M | $900.0M | -$4.5B | $1.1B | $3.6B | $3.0B | $3.3B | $4.8B |
| EPS (diluted) | $22.73 | $0.32 | $0.17 | $4.95 | $-28.26 | $7.23 | $25.03 | $22.39 | $25.72 | $38.38 |
| Free cash flow | $4.3B | $3.9B | $3.6B | $4.0B | $4.1B | $4.0B | $4.8B | $3.9B | $5.5B | $5.7B |
| Buybacks | $2.3B | $1.7B | $1.6B | $1.9B | $742.0M | $3.5B | $3.6B | $3.0B | $3.1B | $4.8B |
| Dividends paid | $253.0M | $262.0M | $292.0M | $294.0M | $276.0M | $277.0M | $292.0M | $314.0M | $345.0M | $381.0M |
| Diluted shares | 223.0M | 209.0M | 197.3M | 181.6M | 160.6M | 154.1M | 142.2M | 134.1M | 128.1M | 124.1M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MCK?
A reverse DCF asks what growth the current price requires. With an enterprise value of $123.3B and $6.1B of trailing free cash flow, McKesson needs to grow free cash flow about 10.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 6.9% a year over the last five years.
P/E ratio history
Current 26.1x vs. median 23.1x (10th–90th percentile 13.3x–389.1x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MCK dividend
- Dividend yield
- 0.38%
- Annual dividend
- $3.76
- Years of increases
- 18
- 5-yr dividend growth
- 13.0%
- per year
- Payout ratio
- 9%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
MCK analyst price targets
14 analysts' average 12-month target is $1,010 (+1% vs. $1,001). Targets range from $845.00 to $1,200. 81% rate it a buy.
MCK earnings
Next report: November 4, 2026. McKesson has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $105.4B (+8% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 5, 2026 | $9.54 | $9.93 | +4.1% |
| May 7, 2026 | $11.57 | $11.69 | +1.1% |
| Feb 4, 2026 | $9.27 | $9.34 | +0.7% |
| Nov 5, 2025 | $9.05 | $9.86 | +8.9% |
| Aug 6, 2025 | $8.15 | $8.26 | +1.4% |
| May 8, 2025 | $9.83 | $10.12 | +3.0% |
| Feb 5, 2025 | $7.99 | $8.03 | +0.5% |
| Nov 6, 2024 | $6.87 | $7.07 | +2.9% |
Stocks like MCK
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 COR Cencora | -2.21% | +2% | $63.2B | 24.6x | Compare |
 CAH Cardinal Health | -2.37% | +58% | $57.8B | 34.5x | Compare |
 HSIC Henry Schein | -1.21% | +34% | $9.5B | 24.8x | Compare |
 LLY Eli Lilly and | -2.54% | +56% | $1.1T | 42.7x | Compare |
 JNJ Johnson & Johnson | -1.42% | +40% | $635.1B | 40.0x | Compare |
 ABBV AbbVie | +0.16% | +29% | $504.8B | 80.7x | Compare |
 UNH UnitedHealth | -1.62% | +19% | $375.3B | 26.9x | Compare |
 MRK Merck & | -1.34% | +72% | $358.4B | 117.2x | Compare |
MCK news
- McKesson's Quarterly Earnings Preview: What You Need to Know · Oct 23, 2026
- McKesson (MCK) Stock Dips While Market Gains: Key Facts · Oct 21, 2026
- Is Trending Stock McKesson Corporation (MCK) a Buy Now? · Oct 21, 2026
- McKesson Corporation Declares Quarterly Dividend · Oct 21, 2026
- Would You Have Held McKesson Stock All The Way Up? · Oct 21, 2026
MCK stock FAQ
What is MCK's market cap?
McKesson's market capitalization is $116.68 billion as of October 23, 2026, ranking 107th in the S&P 500.
What is MCK's P/E ratio?
MCK trades at a trailing price-to-earnings ratio of 26.8x and a forward P/E of 19.8x. Its median P/E over the period we track is 23.1x.
Does MCK pay a dividend?
Yes. McKesson pays $3.76 per share a year, a 0.38% yield. It has raised its dividend 18 years in a row. Dividends grew 13.0% a year over the last five years.
How much has MCK stock returned?
Including reinvested dividends, MCK returned +26.7% over one year, +37.5% a year over five years, +21.0% a year over ten years through October 23, 2026.
Is MCK stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies McKesson must grow free cash flow about 11% a year for the next decade. Its free cash flow grew 7% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the MCK price target?
14 analysts cover MCK with an average 12-month price target of $1,009.64, +1% from the current price. 81% of them rate it a buy.
When does MCK report earnings?
McKesson is expected to report earnings on November 4, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does McKesson have?
McKesson has about 41,600 full-time employees, or $9.9 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology