McKesson Corporation (MCK) Q4 2025 10-Q Quarterly Report
Filed: Feb 4, 2026Period ending Dec 31, 2025
Consumer Staples
Wholesale-Drugs, Proprietaries & Druggists' SundriesSEC EDGAR McKesson Corporation (MCK) 10-Q quarterly report for Q4 2025, filed with SEC EDGAR on Feb 4, 2026 for the fiscal period ending Dec 31, 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 Q4 2025 10-Q Analysis
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
McKesson Corporation Q4 2025 Quarterly FinancialsXBRL
Revenue
$106.2B
▲ +11.4% YoY▲ +2.9% QoQ
Net Income
$1.2B
▲ +34.9% YoY▲ +6.8% QoQ
Gross Margin
3.5%
▲ +3bp YoY▲ +4bp QoQ
Operating Margin
1.5%
▲ +24bp YoY▲ +16bp QoQ
Net Margin
1.1%
▲ +19bp YoY▲ +4bp QoQ
ROE
-91.4%
▼ -6287bp YoY
Total Assets
$84.2B
▲ +18.4% YoY
EPS (Diluted)
$9.57
▲ +38.5% YoY▲ +7.4% QoQ
Operating Cash Flow
$1.2B
▲ +151.7% YoY▼ -49.1% QoQ
Source: XBRL data from McKesson Corporation Q4 2025 10-Q filing on SEC EDGAR. All figures in USD.
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