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Sentiment · FY2027 Q1
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Lisa Gill | JPMorgan | 7 (0%) |
| Daniel Grosslight | Citigroup | 6 (0%) |
| Elizabeth Anderson | Evercore ISI | 6 (0%) |
| Allen Lutz | Bank of America | 6 (0%) |
| Brian Tanquilut | Jefferies | 6 (0%) |
| Eric Percher | Nephron Research | 6 (0%) |
| Erin Wright | Morgan Stanley | 6 (0%) |
| Kevin Caliendo | UBS | 5 (20%) |
| Steve Baxter | Wells Fargo | 5 (0%) |
| George Hill | Deutsche Bank | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 | 7 (0%) |
| Citigroup | 1 | 6 (0%) |
| Bank of America | 1 | 6 (0%) |
| Evercore ISI | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2025 Q2 | $93.65B | +21.3% | $1.86 | -62.3% | 3.4% | 0.8% | 0.3% | $1.88B |
| FY2025 Q3 | $95.29B | +17.8% | $6.94 | +57.0% | 3.4% | 1.4% | 0.9% | $-2.58B |
| FY2025 Q4 | $90.82B | +18.9% | $10.01 |
| 6 (0%) |
| Jefferies | 1 | 6 (0%) |
| Leerink Partners | 2 | 6 (0%) |
| Morgan Stanley | 1 | 6 (0%) |
| Nephron Research | 1 | 6 (0%) |
Consolidated revenue grew 6% to $96.3 billion with adjusted EPS of $11.69, up 16%, capping a full year of 18% adjusted EPS growth. The Medical-Surgical separation with Apollo investment was announced while 570+ oncology providers were added and the biopharma services division delivered a record verification season. Management introduced FY2027 EPS guidance of $43.80-$44.60 with operating cash flow of $6.2 billion exceeding plans.
Competitive Dynamics | Demand | Guidance Reliability | Revenue Growth | M&A | Margin | Innovation & R&D | Regulation Policy | |
|---|---|---|---|---|---|---|---|---|
| 2025Q3 | 4 | 3 | 2 | 1 | 3 | 2 | 1 | |
| 2025Q4 | 3 | 1 | 2 | 2 | 1 | 1 | 1 | 2 |
| 2026Q1 | 3 | 4 | 2 | 3 | 1 | 1 | 2 | 3 |
| 2026Q2 | 5 | 3 | 5 | 1 | 3 | 3 | 2 | 2 |
| 2026Q3 | 3 | 2 | 3 | 4 | 2 | 3 | 4 | 1 |
| 2026Q4 | 3 | 3 | 1 | 2 | 2 | 1 | 1 | 2 |
| '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | '26Q4 | |
|---|---|---|---|---|---|---|
| Competitive Dynamics | 4 | 3 | 3 | 5 | 3 | 3 |
| Demand | 3 | 1 | 4 | 3 | 2 | 3 |
| Guidance Reliability | 2 | 2 | 2 | 5 | 3 | 1 |
| Revenue Growth | 1 | 2 | 3 | 1 | 4 | 2 |
| M&A | 3 | 1 | 1 | 3 | 2 | 2 |
| Margin | 2 | 1 | 1 | 3 | 3 | 1 |
| Innovation & R&D | 1 | 1 | 2 | 2 | 4 | 1 |
| Regulation Policy | 2 | 3 | 2 | 1 | 2 |
| +66.6% |
| 3.2% |
| 1.1% |
| 1.4% |
| $7.47B |
| FY2026 Q1 | $97.83B | +23.4% | $6.25 | -10.7% | 3.4% | 1.1% | 0.8% | $-1.03B |
| FY2026 Q2 | $103.15B | +10.1% | $8.92 | +379.6% | 3.4% | 1.4% | 1.1% | $2.53B |
| FY2026 Q3 | $106.16B | +11.4% | $9.59 | +38.2% | 3.5% | 1.5% | 1.1% | $1.12B |
| FY2026 Q4 | $96.30B | +6.0% | $13.71 | +37.0% | 4.2% | 2.3% | 1.7% | $3.31B |
| FY2027 Q1 | $105.38B | +7.7% | $5.15 | -17.6% | 3.5% | 1.3% | 0.6% | $-332M |
| Year | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2023 | $276.71B | +4.8% | $25.04 | +247.6% | 4.3% | 1.6% | 1.3% | $4.60B |
| FY2024 | $308.95B | +11.7% | $22.37 | -10.7% | 3.9% | 1.3% | 1.0% | $3.63B |
| FY2025 | $359.05B | +16.2% | $25.81 | +15.4% | 3.4% | 1.1% | 0.9% | $5.23B |
| FY2026 | $403.43B | +12.4% | $38.47 | +49.1% | 3.6% | 1.6% | 1.2% | $5.94B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What MCK and other companies said about each other on FY2026 Q4 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“this outcome was achieved through direct negotiations with Baylor and McKesson, leveraging decades-long relationships and in-house operating platform”
Healthpeak negotiated the Baylor cancer-center lease renewals directly with Baylor and McKesson, indicating McKesson's involvement (US Oncology) as a party in the outpatient oncology real estate.
“Ontada, our data and insights business, for example, is now incorporating in-office dispensing data from Florida Cancer Specialists and Research Institute.”
McKesson's Ontada data business is now incorporating in-office dispensing data from Florida Cancer Specialists and Research Institute to expand its biopharma insights.
“We also had 3 quarters of revenue related to Rite Aid.”
McKesson is lapping three quarters of distribution revenue tied to Rite Aid, a revenue (though minimal income) headwind in fiscal 2027.
“We also announced a definitive agreement with Apollo Funds for a $1.25 billion strategic minority investment in Medical-Surgical Solutions, representing approximately 13% minority interest and valuing NewCo at approximately $13 billion of total enterprise value.”
Apollo is making a $1.25 billion strategic minority investment (~13%) in McKesson's Medical-Surgical Solutions carve-out, valuing NewCo at ~$13 billion.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
MCK McKesson Corporation | 8 | +6.0% | |
| CAH Cardinal Health | 9 | +11.1% | |
| COR Cencora | 8 | +3.9% | |
| HSIC Henry Schein | 6 | +6.3% |