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McKesson MCK Gross margin

Gross margin at other companies

Eli Lilly logo
Eli LillyLLY
82.8%+1.1pp
Cardinal Health logo
Cardinal HealthCAH
3.8%+0.2pp
Cencora logo
CencoraCOR
3.8%+0.4pp
Viatris logo
ViatrisVTRS
34.4%-2.5pp
Medline, Inc.
 logo
Medline, Inc. MDLN
27.4%+1.5pp
Becton, Dickinson and Company logo
Becton, Dickinson and CompanyBDX
46.8%+2.5pp

Other financials

Income statement

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Revenue$96.3B+6.0%
Gross profit$4.0B+11.1%
Operating income$2.2B+35.1%
Net income$1.7B+33.5%
EPS (diluted)$13.65+37.6%

Balance sheet

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Cash & equivalents$4.0B-33.3%
Total debt$2.3B-74.2%
Total equity-$2.2B-4.7%
Total assets$82.3B+9.6%

Cash flow

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Operating cash flow$3.4B-55.9%
CapEx$111.0M-34.3%
Free cash flow$3.3B-56.3%

Valuation

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Market cap$91.3B+25.7%
Enterprise value$89.6B+19.6%
P/E19.2×-2.9×
P/S0.2×0.0×

Profitability

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Operating margin1.5%+0.3pp
Net margin1.2%+0.3pp

Returns & leverage

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Return on equity36%
Debt / equity
Current ratio0.9×0.0×

Where this comes from

Calculated from McKesson’s reported figures.

Based on trailing twelve months.

The official record: McKesson’s 10-K, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is McKesson's gross margin?
McKesson (MCK) reported gross margin of 3.6% in Q1 2026.
How has McKesson's gross margin changed year-over-year?
McKesson's gross margin decreased by 2.8% year-over-year, from 3.7% to 3.6%.
What is the long-term trend for McKesson's gross margin?
Over 4 years (2022 to 2026), McKesson's gross margin has grown at a -8.4% compound annual growth rate (CAGR), from 20.3% to 14.3%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.