Mckesson Corp. (MCK) intrinsic value & 10-year financials
Mckesson Corp. (MCK) has a Graham intrinsic value of $678.14 per share. At $1,004.84 on Oct 17, 2026, the stock trades 48% above that value. Over the last 10 fiscal years revenue grew 8.2% a year to $403.4B, with an average return on invested capital of -136.3%.
- Graham intrinsic value
- $678.14
- Share price (Oct 17, 2026)
- $1,004.84
- Price vs Graham value
- 48% above
- Market cap
- $124.7B
- Revenue (FY2026)
- $403.4B
- Revenue growth (10-yr CAGR)
- 8.2%
- ROIC (10-yr avg)
- -136.3%
- Free cash flow (FY2026)
- $5.7B
MCK 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $403.4B | $4.8B | $38.38 | $5.7B | 1.5% | -240.8% |
| FY2025 | $359.1B | $3.3B | $25.72 | $5.5B | 1.2% | -163.3% |
| FY2024 | $309.0B | $3.0B | $22.39 | $3.9B | 1.3% | -224.1% |
| FY2023 | $276.7B | $3.6B | $25.03 | $4.8B | 1.6% | -265.3% |
| FY2022 | $264.0B | $1.1B | $7.23 | $4.0B | 0.8% | -420.5% |
| FY2021 | $238.2B | -$4.5B | -$28.26 | $4.1B | -2.1% | -116.3% |
| FY2020 | $231.1B | $900.0M | $4.95 | $4.0B | 1.1% | 24.7% |
| FY2019 | $214.3B | $34.0M | $0.17 | $3.6B | 0.4% | 3.4% |
| FY2018 | $208.4B | $67.0M | $0.32 | $3.9B | 0.4% | 5.2% |
| FY2017 | $198.5B | $5.1B | $22.73 | $4.3B | 3.6% | 34.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
McKesson Corporation is a consistent compounder, expanding top-line revenue at 8.2% annually over the past decade.
McKesson Corporation has historically struggled to out-earn its cost of capital, averaging just -6.2% ROIC.
Over the decade, McKesson Corporation shows that management has aggressively returned capital to shareholders by retiring 44.3% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, McKesson Corporation is modeled at 6.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $678.14 per share.