Filing Flows › McKesson (MCK) › Q4 FY26
McKesson (MCK) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed May 8, 2026
McKesson (MCK) reported revenue of $96.3B for the fourth quarter fiscal 2026 (Q4 FY26), +6% from a year earlier and -9% from the quarter before. Operating margin was 2.2%, net earnings $1.7B (1.7% of revenue).
McKesson, Q4 FY26: revenue $96.3B (+6% year over year), operating margin 2.2%, net earnings $1.7B, operating cash flow $3.4B. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $96.3B | -9% | +6% |
| Gross profit | $4.0B | +10% | +11% |
| Operating profit | $2.1B | +33% | +35% |
| Net earnings | $1.7B | +42% | +33% |
| Operating cash flow | $3.4B | +178% | -56% |
| Free cash flow | $3.3B | +194% | -56% |
What changed
Revenue was $96.3B in Q4 FY26, up 6% year over year and down 9% from the previous quarter.
Gross margin was 4.2%, up 0.2 points from Q4 FY25. Operating profit was $2.1B, a 2.2% margin (up 0.5 points year over year). Of the extra revenue versus Q4 FY25, 10% reached operating profit, above the 2% margin then. Operating expenses fell 8% while revenue rose 6%. The fastest-growing cost line was Other operating costs (+34%). Net earnings were $1.7B, up 33% year over year. The effective tax rate was 12.7%.
Operating cash flow was $3.4B (down 56% year over year), 184% of net income including minority interests. Non-cash charges added back $0.20B of depreciation and amortization. Working capital and other items added $1.4B. Capital expenditures of $0.11B left free cash flow of $3.3B.
Questions
What was McKesson's revenue in the fourth quarter fiscal 2026?
McKesson (MCK) reported revenue of $96.3B for the fourth quarter fiscal 2026 (Q4 FY26), +6% from a year earlier and -9% from the quarter before.
Was McKesson profitable in the fourth quarter fiscal 2026?
Operating profit was $2.1B (2.2% of revenue) and net earnings $1.7B.
Source: McKesson 10-K on SEC EDGAR.