Short answer
McKesson Corporation (MCK) filed its Q4 2025 10-Q quarterly report on Feb 4, 2026 for the quarter ended Dec 31, 2025. Quarterly revenue was $106.2B (up 11.4% year over year) with net income of $1.2B.
Q4 2025 key financials · XBRL
- Revenue
- $106.2B
- +11.4% YoY · +2.9% QoQ
- Net income
- $1.2B
- +34.9% YoY · +6.8% QoQ
- Operating margin
- 1.5%
- Gross margin
- 3.5%
- EPS (diluted)
- $9.57
- +38.5% YoY · +7.4% QoQ
Source: XBRL data from the McKesson Corporation (MCK) Q4 2025 10-Q on SEC EDGAR. USD.
McKesson Corporation Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $106.2B Q2 FY26, up 11% YoY from $95.3B; $307.1B 9M FY26, up 15% YoY from $268.2B
- Operating margin 1.81% Q2 FY26 vs ~1.52% Q2 FY25 estimated (1,916M profit on 106,158M revenue vs 1,448M on 95,294M)
- Best segment: Oncology & Multispecialty revenue +37% Q2 ($13.0B vs $9.5B), operating profit +50% Q2 ($304M vs $202M)
- Worst: Medical-Surgical Solutions revenue +1% Q2 ($3.0B vs $2.9B), operating profit -1% Q2 ($265M vs $269M)
- Operating cash flow +$4.4B 9M FY26 to $2.7B driven by higher net income and working capital timing; cash used in investing $3.9B mainly acquisitions (Core Ventures $2.5B, PRISM Vision $875M)
- Management sees sufficient liquidity from $4B revolving credit and other sources; no updated guidance, notes restructuring charges $650-700M to complete by FY28
Risk Factors
- New operational risk from Rite Aid bankruptcy impact: $29M net charge in provision for bad debts and vendor credits recorded in 3Q FY26
- Most material update in restructuring charges: $146M in 9M FY26 vs $213M in 9M FY25, reflecting ongoing cost optimization initiatives
- Legal risk: $108M opioid-related claims charge in 9M FY25, no new charges recognized in 9M FY26, ongoing litigation exposure remains
- Market risk: 15% revenue growth in 9M FY26 driven by North American Pharmaceutical volume increases and Oncology & Multispecialty specialty pharmaceutical sales
- Financial risk: Operating expenses decreased 6% in 9M FY26 to $6.44B but SDG&A impacted by acquisitions and disposition of Canadian retail business
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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