McKesson Corporation (MCK) Q3 2025 10-Q Quarterly Report
Filed: Nov 6, 2025Period ending Sep 30, 2025
Consumer Staples
Wholesale-Drugs, Proprietaries & Druggists' SundriesSEC EDGAR McKesson Corporation (MCK) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 6, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
McKesson Corporation Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $103.2B Q1 FY2025, up 10% YoY from $93.7B; 16% increase for six months to $201.0B vs $172.9B prior year
- • Operating margin improved across segments: North American Pharmaceutical 0.99% vs 0.43% YoY; Oncology & Multispecialty 2.76% vs 2.18%
- • Best segment growth Oncology & Multispecialty revenue up 32% ($2.9B) and operating profit up 66% ($332M) YoY Q1; weakest Medical-Surgical Solutions with flat revenue and 7.47% margin vs 3.09%
- • Operating cash flow increased by $782M to $1.5B; investing activities used $3.6B, mainly $3.4B acquisitions (Core Ventures, PRISM Vision); financing activities provided $215M vs $2.4B use prior year
- • Management completed $2B debt offering to fund acquisitions; raised quarterly dividend to $0.82; expect cash, credit facilities sufficient for capital and liabilities including $5.7B opioid litigation exposure
Risk Factors
- • New risks from increased regulatory uncertainty and government actions noted as potential future goodwill impairment triggers
- • Updated litigation risk: $108M estimated opioid-related claims liability impacting six months ended Sept 30, 2025, down from prior $108M in 2024
- • Operational risk: Completed divestiture of Canadian retail disposal group reduces SDG&A expenses by $643M charge recognized in 2024
- • Market risk: Revenue growth 10% (Q3) and 16% (YTD) driven by North American Pharmaceutical volumes and specialty pharmaceutical sales
- • Financial risk: Provision for bad debts $189M in six months ended Sept 30, 2025, increased from $203M credit in six months ended Sept 30, 2024
McKesson Corporation Q3 2025 Quarterly FinancialsXBRL
Revenue
$103.2B
▲ +10.1% YoY▲ +5.4% QoQ
Net Income
$1.1B
▲ +360.6% YoY▲ +41.6% QoQ
Gross Margin
3.4%
▼ -3bp YoY▲ +8bp QoQ
Operating Margin
1.4%
▲ +75bp YoY▲ +31bp QoQ
Net Margin
1.1%
▲ +82bp YoY▲ +27bp QoQ
EPS (Diluted)
$8.91
▲ +371.4% YoY▲ +42.6% QoQ
Operating Cash Flow
$2.4B
▲ +15.2% YoY▲ +363.6% QoQ
Source: XBRL data from McKesson Corporation Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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