McKesson Corporation (MCK) Financial Ratios
30 years of historical data (1997–2026) · Healthcare · Medical - Distribution
EV/EBITDA
↑
13.21
-10% vs avg
5yr avg: 14.66
30Y Low4.7·High36.7
P/FCF
↑
15.78
+1% vs avg
5yr avg: 15.65
30Y Low6.4·High56.5
P/B Ratio
N/A
—
5yr avg: N/A
30Y Low1.6·High21.7
ROE
N/A
—
5yr avg: N/A
30Y Low-111%·High45%
Debt/EBITDA
↓
1.20
↓-22% vs avg
5yr avg: 1.54
30Y Low0.7·High6.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MCK Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
McKesson Corporation trades at 19.6x earnings, 24% below its 5-year average of 25.9x, sitting at the 50th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a discount of 12%. On a free-cash-flow basis, the stock trades at 15.8x P/FCF, roughly in line with the 5-year average of 15.6x.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $90.2B | $107.4B | $86.2B | $72.0B | $50.6B | $47.2B | $31.3B | $24.6B | $23.1B | $29.4B | $33.1B |
| Enterprise Value | $94.9B | $112.0B | $87.9B | $74.8B | $53.2B | $51.2B | $34.5B | $30.0B | $27.7B | $34.6B | $38.8B |
| P/E Ratio → | 19.56 | 22.55 | 26.17 | 23.98 | 14.22 | 42.34 | — | 27.33 | 688.59 | 440.22 | 6.52 |
| P/S Ratio | 0.22 | 0.27 | 0.24 | 0.23 | 0.18 | 0.18 | 0.13 | 0.11 | 0.11 | 0.14 | 0.17 |
| P/B Ratio | — | — | — | — | — | — | 21.66 | 3.67 | 2.39 | 2.56 | 2.62 |
| P/FCF | 15.78 | 18.78 | 16.50 | 19.85 | 11.00 | 12.10 | 8.03 | 6.36 | 6.64 | 7.82 | 7.91 |
| P/OCF | 14.66 | 17.45 | 14.17 | 16.69 | 9.81 | 10.64 | 6.90 | 5.63 | 5.72 | 6.78 | 6.97 |
P/E links to full P/E history page with 30-year chart
MCK EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
McKesson Corporation's enterprise value stands at 13.2x EBITDA, 10% below its 5-year average of 14.7x. The Healthcare sector median is 14.2x, placing the stock at a 7% discount on an enterprise-value basis.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.28 | 0.24 | 0.24 | 0.19 | 0.19 | 0.14 | 0.13 | 0.13 | 0.17 | 0.20 |
| EV / EBITDA | 13.21 | 15.60 | 17.55 | 16.40 | 10.03 | 13.74 | 7.28 | 7.63 | 6.88 | 8.95 | 9.10 |
| EV / EBIT | 14.70 | 17.36 | 19.05 | 18.55 | 10.92 | 24.30 | — | 21.54 | 31.70 | 66.38 | 5.39 |
| EV / FCF | — | 19.59 | 16.82 | 20.62 | 11.57 | 13.13 | 8.83 | 7.76 | 7.96 | 9.20 | 9.28 |
MCK Profitability
Margins and return-on-capital ratios measuring operating efficiency
McKesson Corporation earns an operating margin of 1.6%. ROIC of 254.1% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 3.6% | 3.6% | 3.5% | 3.9% | 4.3% | 4.8% | 4.9% | 4.9% | 5.0% | 5.0% | 5.4% |
| Operating Margin | 1.6% | 1.6% | 1.2% | 1.3% | 1.6% | 1.0% | 1.5% | 1.3% | 1.4% | 1.4% | 1.7% |
| Net Profit Margin | 1.2% | 1.2% | 0.9% | 1.0% | 1.3% | 0.4% | -1.9% | 0.4% | 0.0% | 0.0% | 2.6% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | -111.3% | 11.0% | 0.3% | 0.6% | 45.0% |
| ROA | 6.0% | 6.0% | 4.6% | 4.6% | 5.7% | 1.7% | -7.2% | 1.5% | 0.1% | 0.1% | 8.8% |
| ROIC | 254.1% | 254.1% | 540.6% | 252.3% | 199.7% | 60.1% | 31.6% | 17.1% | 14.9% | 12.5% | 15.3% |
| ROCE | 44.8% | 44.8% | 30.5% | 26.7% | 30.5% | 15.2% | 17.8% | 14.8% | 13.5% | 11.9% | 14.3% |
MCK Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
McKesson Corporation carries a Debt/EBITDA ratio of 1.2x, which is manageable (63% below the sector average of 3.2x). Net debt stands at $4.6B ($8.6B total debt minus $4.0B cash). Interest coverage of 26.1x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | 6.50 | 1.40 | 0.78 | 0.68 | 0.68 |
| Debt / EBITDA | 1.20 | 1.20 | 1.48 | 1.62 | 1.37 | 2.03 | 1.99 | 2.39 | 1.89 | 2.04 | 2.00 |
| Net Debt / Equity | — | — | — | — | — | — | 2.16 | 0.80 | 0.48 | 0.45 | 0.46 |
| Net Debt / EBITDA | 0.65 | 0.65 | 0.34 | 0.62 | 0.49 | 1.08 | 0.66 | 1.37 | 1.15 | 1.35 | 1.35 |
| Debt / FCF | — | 0.81 | 0.33 | 0.77 | 0.57 | 1.03 | 0.80 | 1.39 | 1.33 | 1.38 | 1.38 |
| Interest Coverage | 26.13 | 26.13 | 18.03 | 16.59 | 19.67 | 11.83 | -22.20 | 5.59 | 3.31 | 1.84 | 23.37 |
MCK Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.85x is below 1.0, meaning current liabilities exceed current assets — though the company's $4.0B cash position helps mitigate short-term liquidity concerns. The quick ratio of 0.49x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 0.92x to 0.85x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.85 | 0.85 | 0.90 | 0.92 | 0.92 | 0.95 | 1.03 | 0.99 | 1.02 | 1.01 | 1.04 |
| Quick Ratio | 0.49 | 0.49 | 0.53 | 0.51 | 0.51 | 0.57 | 0.59 | 0.60 | 0.58 | 0.57 | 0.61 |
| Cash Ratio | 0.06 | 0.06 | 0.09 | 0.09 | 0.10 | 0.07 | 0.14 | 0.09 | 0.08 | 0.07 | 0.08 |
| Asset Turnover | — | 4.90 | 4.78 | 4.58 | 4.44 | 4.17 | 3.66 | 3.77 | 3.59 | 3.45 | 3.26 |
| Inventory Turnover | 16.06 | 16.06 | 15.07 | 14.04 | 13.45 | 13.44 | 11.78 | 13.13 | 12.18 | 12.14 | 12.30 |
| Days Sales Outstanding | — | 25.32 | 26.07 | 25.54 | 25.60 | 25.70 | 29.39 | 31.52 | 31.07 | 31.03 | 33.49 |
MCK Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
McKesson Corporation returns 5.7% to shareholders annually — split between a 0.4% dividend yield and 5.3% buyback yield. The payout ratio of 8.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.4% | 0.4% | 0.4% | 0.4% | 0.6% | 0.6% | 0.9% | 1.2% | 1.3% | 0.9% | 0.8% |
| Payout Ratio | 8.0% | 8.0% | 10.5% | 10.5% | 8.2% | 24.9% | — | 32.7% | 858.8% | 391.0% | 4.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.1% | 4.4% | 3.8% | 4.2% | 7.0% | 2.4% | — | 3.7% | 0.1% | 0.2% | 15.3% |
| FCF Yield | 6.3% | 5.3% | 6.1% | 5.0% | 9.1% | 8.3% | 12.5% | 15.7% | 15.1% | 12.8% | 12.6% |
| Buyback Yield | 5.3% | 4.4% | 3.6% | 4.2% | 7.2% | 7.5% | 2.4% | 7.9% | 7.1% | 5.8% | 7.0% |
| Total Shareholder Yield | 5.7% | 4.8% | 4.0% | 4.6% | 7.8% | 8.0% | 3.3% | 9.1% | 8.4% | 6.7% | 7.8% |
| Shares Outstanding | — | $124M | $128M | $134M | $142M | $154M | $161M | $182M | $197M | $209M | $223M |
Peer Comparison
Compare MCK with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MCKYou | $90B | 19.6 | 13.2 | 15.8 | 3.6% | 1.6% | — | 254.1% | 1.2 |
 CAH | $52B | 34.4 | 18.8 | 28.2 | 3.7% | 1.0% | — | 3378.7% | 3.0 |
 HSIC | $9B | 24.4 | 11.9 | 16.0 | 29.1% | 5.7% | 8.3% | 7.1% | 3.4 |
 CVS | $125B | 70.7 | 14.0 | 16.1 | 13.8% | 2.6% | 2.3% | 5.0% | 6.2 |
 CI | $74B | 12.6 | 8.3 | 8.8 | 9.5% | 3.3% | 14.3% | 10.4% | 2.7 |
 OMI | $171M | -0.2 | 1.7 | — | — | 1.0% | -2111.6% | 1.8% | 2.6 |
 JNJ | $550B | 39.4 | 19.1 | 27.7 | 69.1% | 24.9% | 20.1% | 20.7% | 1.2 |
 PFE | $143B | 18.5 | 10.3 | 15.8 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
 MRK | $281B | 15.6 | 10.8 | 22.8 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 ABBV | $383B | 91.4 | 15.8 | 21.5 | 70.2% | 32.8% | 6214.7% | 23.9% | 2.4 |
 ORCL | $530B | 31.6 | 22.8 | — | 65.2% | 30.8% | 53.4% | 11.0% | 5.4 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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MCK — Frequently Asked Questions
Quick answers to the most common questions about buying MCK stock.
What is McKesson Corporation's P/E ratio?
McKesson Corporation's current P/E ratio is 19.6x. The historical average is 21.7x. This places it at the 50th percentile of its historical range.
What is McKesson Corporation's EV/EBITDA?
McKesson Corporation's current EV/EBITDA is 13.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.3x.
Is MCK stock overvalued?
Based on historical data, McKesson Corporation is trading at a P/E of 19.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is McKesson Corporation's dividend yield?
McKesson Corporation's current dividend yield is 0.41% with a payout ratio of 8.0%.
What are McKesson Corporation's profit margins?
McKesson Corporation has 3.6% gross margin and 1.6% operating margin.
How much debt does McKesson Corporation have?
McKesson Corporation's Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.