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McKesson MCK Q2 2026 earnings

Reported November 5, 2025 · After market close

Revenue$103.15BMiss by $986.3MDiluted EPS$9.86Beat by $0.83
Revenue estimate$104.14B
EPS estimate$9.03

Next report

Aug 5, 2026 (In 3 weeks)
Revenue estimate$103.80B
EPS estimate$9.59

Financials

Q2 2026

Income statement

See full
Revenue$103.15B+10.1%
Gross profit$3.5B+9.1%
Operating income$1.4B+143%
Net income$1.1B+361%
EPS (diluted)$8.92+377%

Balance sheet

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Cash & equivalents$4.1B+63.6%
Total debt$11.6B+60.2%
Total equity-$1.7B+42.4%
Total assets$84.2B+16.2%

Cash flow

See full
Operating cash flow$2.4B+15.2%
CapEx$106.0M-22.1%
Free cash flow$2.3B+17.8%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$96.09B+49.7%
Enterprise value$103.56B+50.3%
P/E23.8×-1.5×
P/S0.2×+0.1×

Profitability

See full
Gross margin3.6%-0.4pp
Operating margin1.4%+0.3pp
Net margin1%+0.3pp
FCF margin1.6%—

Returns & leverage

See full
Current ratio0.9×0.0×

Segments

By segment

See full
North American Pharmaceutical$86.5B—
Oncology & Multispecialty$12.0B—
Medical-Surgical Solutions$2.9B0.0%
Prescription Technology Solutions$1.4B+8.8%

Versus estimates

Revenue

Q4 2026$96.3BMiss by $5.1BQ3 2026$106.16BBeat by $362.8M
Q2 2026$103.15BMiss by $986.3M
Q1 2026$97.8BBeat by $1.6BQ4 2025$90.8BMiss by $3.5BQ3 2025$95.3BMiss by $760.8M

Diluted EPS

Q4 2026$11.69Beat by $0.13Q3 2026$9.34Beat by $0.17
Q2 2026$9.86Beat by $0.83
Q1 2026$8.26Beat by $0.12Q4 2025$10.12Beat by $0.29Q3 2025$8.03Miss by $0.57

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Questions, answered.

When did McKesson report Q2 2026 earnings?
McKesson (MCK) reported Q2 2026 earnings on November 5, 2025 after market close.
What were McKesson's Q2 2026 revenue and EPS?
McKesson reported revenue of $103.15B and diluted EPS of $9.86 for Q2 2026.
Did McKesson beat estimates in Q2 2026?
Revenue missed the consensus estimate of $104.14B by $986.3M. EPS beat the consensus estimate of $9.03 by $0.83.
How did McKesson's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.1% from $93.7B a year earlier and diluted EPS grew 39.5% from $7.07.
Where can I find McKesson's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000927653-25-000138) and the 10-Q periodic report (0000927653-25-000140) directly on SEC EDGAR. The filing index links above go to sec.gov.