Filing Flows › McKesson (MCK) › Q3 FY26
McKesson (MCK) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Feb 4, 2026
McKesson (MCK) reported revenue of $106.2B for the third quarter fiscal 2026 (Q3 FY26), +11% from a year earlier and +3% from the quarter before. Operating margin was 1.5%, net earnings $1.2B (1.2% of revenue).
McKesson, Q3 FY26: revenue $106.2B (+11% year over year), operating margin 1.5%, net earnings $1.2B, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $106.2B | +3% | +11% |
| Gross profit | $3.7B | +4% | +12% |
| Operating profit | $1.6B | +15% | +32% |
| Net earnings | $1.2B | +7% | +35% |
| Operating cash flow | $1.2B | -49% | — |
| Free cash flow | $1.1B | -51% | — |
What changed
Revenue was $106.2B in Q3 FY26, up 11% year over year and up 3% from the previous quarter.
Gross margin was 3.5%, unchanged from a year earlier. Operating profit was $1.6B, a 1.5% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 4% reached operating profit, above the 1% margin then. Operating expenses grew 0% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $1.2B, up 35% year over year. The effective tax rate was 23.3%.
Operating cash flow was $1.2B, 99% of net income including minority interests. Non-cash charges added back $0.19B of depreciation and amortization. Working capital and other items used $0.21B. Capital expenditures of $0.11B left free cash flow of $1.1B.
Questions
What was McKesson's revenue in the third quarter fiscal 2026?
McKesson (MCK) reported revenue of $106.2B for the third quarter fiscal 2026 (Q3 FY26), +11% from a year earlier and +3% from the quarter before.
Was McKesson profitable in the third quarter fiscal 2026?
Operating profit was $1.6B (1.5% of revenue) and net earnings $1.2B.
Source: McKesson 10-Q on SEC EDGAR.