Short answer
McKesson Corporation (MCK) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $103.2B (up 10.1% year over year) with net income of $1.1B.
Q3 2025 key financials · XBRL
- Revenue
- $103.2B
- +10.1% YoY · +5.4% QoQ
- Net income
- $1.1B
- +360.6% YoY · +41.6% QoQ
- Operating margin
- 1.4%
- Gross margin
- 3.4%
- EPS (diluted)
- $8.91
- +371.4% YoY · +42.6% QoQ
Source: XBRL data from the McKesson Corporation (MCK) Q3 2025 10-Q on SEC EDGAR. USD.
McKesson Corporation Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
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
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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