McKesson Corporation (MCK)财务
NYSE · Healthcare · Medical - Distribution · 员工42,300人 · CEO Brian S. Tyler
- 股价
- $994.58 +1.40%
- 市值
- $1160亿
- 企业价值
- $1220亿
- 最近财报
- Q1 '27 2026-08-05提交
- 下次财报
- 2026-11-04 EPS预期 $10.72
营收(TTM)$4110亿+8.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)1.6%+0.5 百分点 对比去年同期营业利润 $66.5亿
净利润(TTM)$45.9亿+45.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$61.9亿+9.2% 对比去年同期资本支出 $6.68亿
稀释EPS(TTM)$37.37+49.1% 对比去年同期最近4个季度之和
净现金-$65.4亿+13.0% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1160亿 EV $1220亿
- 营收
- $4110亿 过去12个月
- 营收增速
- +7% FY2027年一致预期
- 净利润率
- 1.1% 净利润 / 营收,TTM
- P/E
- 26.5× 预期 22.3×(FY2027)
- P/S
- 0.3× 股价 / 营收,TTM
- EV / EBITDA
- 16.7× TTM
- 自由现金流
- $61.9亿 过去12个月
- 净利润
- $45.9亿 过去12个月
- 营收预期
- $4320亿 FY2027年一致预期
- 盈利
- 2026-11-04 营收预期 $1100亿
- 股息
- $3.40 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-05):营收超预期1.4%,EPS 超预期3.9%营收$1050亿,预期$1040亿(+1.4%);EPS $9.93,预期$9.56(+3.9%)。
- 营收增长放缓:同比7.7%Q1 '27营收$1050亿,此前四个季度的平均值为12.7%。
- 营业利润率1.6%(TTM),较去年同期+0.5 百分点营收增长8.8%,营业利润增长62.1%。
- 资本支出占营收的0.2%(去年为0.2%)最近4个季度投入$6.68亿(同比-24.2%)。自由现金流$61.9亿,相当于净利润的134.7%。
- 股东回报$56.9亿 = 自由现金流的92.0%回购$53亿(去年为$32亿),股息$3.93亿,股权激励$0(TTM)。
- 稀释股数一年内减少5.0%Q1 '27稀释股数1.19亿,一年前为1.26亿。
- 净债务 $65.4亿现金 + 短期投资 $51.6亿,含租赁债务 $117亿;一年前净债务 $75.2亿。
上一季度:Q1 '27
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q1 '27 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $1050亿 | $978亿 | +7.7% |
| 毛利率 | 3.5% | 3.4% | +0.1 百分点 |
| 营业利润 | $13.2亿 | $10.4亿 | +27.3% |
| 营业利润率 | 1.3% | 1.1% | +0.2 百分点 |
| 净利润 | $6.14亿 | $7.84亿 | -21.7% |
| 稀释EPS | $5.15 | $6.25 | -17.6% |
| 经营现金流 | -$2.2亿 | -$9.18亿 | +76.0% |
| 资本支出 | $1.12亿 | $1.89亿 | -40.7% |
| 自由现金流 | -$3.32亿 | -$11.1亿 | +70.0% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-08-05| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $1050亿 | $1040亿 | +1.4% |
| EPS(一致预期口径) | $9.93 | $9.56 | +3.9% |
来自2026-08-05发布的Q1 '27财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q1 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| North American Pharmaceutical Segment | $868亿 | – | 82.3% | $4230亿 | – | |
| Oncology And Multispecialty Segment | $142亿 | – | 13.5% | $626亿 | – | |
| Medical-Surgical Solutions Segment | $28.2亿 | +4.4% | 2.7% | $116亿 | +1.5% | |
| Prescription Technology Solutions Segment | $15.7亿 | – | 1.5% | $73.7亿 | – | |
| Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment | – | – | – | – | – |
按地区划分的营收
占总额比例| 分部 | Q1 '27 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $471亿 | +1.7% | 84.6% | $1940亿 | +7.7% | |
| International Segment | $85.5亿 | -9.1% | 15.4% | $375亿 | -0.6% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '25分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| US Pharmaceutical Segment | $871亿 | – | $8.54亿 | – | 1.0% | – | – |
| International Segment | $38.6亿 | – | $1.11亿 | – | 2.9% | – | – |
| Medical Surgical Solutions Segment | $29.5亿 | – | $2.69亿 | – | 9.1% | – | – |
| Prescription Technology Solutions Segment | $13.7亿 | – | $2.19亿 | – | 16.0% | – | – |
各分部营业利润
季度各分部营业利润率
季度利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $68.5亿
- 资本支出
- -$6.68亿
- 股票回购
- -$53亿
- 股息
- -$3.93亿
- 收购
- $6.09亿
- 债务净发行
- $18.6亿
- 股权激励费用
- $0
- 自由现金流
- $61.9亿
- 股东回报 / FCF
- 92.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 26.5× | 25.7× | 14.1× – 41.9× |
| EV / EBITDA | 16.7× | 15.1× | 9.6× – 17.7× |
| EV / 营收 | 0.3× | 0.2× | 0.2× – 0.3× |
| 股价 / FCF | 18.7× | 15.8× | 10.9× – 19.8× |
| 股价 / 净资产 | -27.8× | – | – |
| FCF收益率 | 5.3% | 6.7% | 5.1% – 9.2% |
| 投入资本回报率 | 27.9% | 22.1% | 11.5% – 31.5% |
| 净资产收益率 | -194.4% | -154.2% | -219.2% – -49.0% |
分析师
一致目标价 $983.13 (-1.2%)
区间 $845.00 – $1,200.00 · 评级 Buy
强烈买入1
买入24
持有6
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $4320亿 | +7.1% | $44.65 | +16.3% | 22.3× | 9 |
| FY2028 | $4610亿 | +6.8% | $50.62 | +13.4% | 19.6× | 9 |
| FY2029 | $4950亿 | +7.2% | $57.93 | +14.4% | 17.2× | 3 |
| FY2030 | $5150亿 | +4.2% | $66.48 | +14.8% | 15.0× | 1 |
| FY2031 | $5600亿 | +8.7% | $80.34 | +20.8% | 12.4× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
McKesson Corporation在近期10-Q / 10-K文件中标记的全部282项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | -$3000万 | – | – | |
| – | – | – | -0.5% | – | – | |
| – | – | – | $8.39亿 | – | – | |
| – | – | – | $1.31亿 | – | – | |
| Accounts Payable, Current | $637亿 | $579亿 | +10.1% | $600亿 | $553亿 | +8.4% |
| Accounts Receivable, Allowance for Credit Loss | $1.94亿2026-03-31 | $4.5亿 | -56.9% | $1.94亿 | $4.5亿 | -56.9% |
| Accounts Receivable, Allowance for Credit Loss, Current | $2.59亿2026-03-31 | $5亿 | -48.2% | $2.59亿 | $5亿 | -48.2% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $282亿2026-03-31 | $261亿 | +8.0% | $282亿 | $261亿 | +8.0% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $4500万 | $1.96亿 | -77.0% | $1亿 | -$1.3亿 | +176.9% |
| Accrued Liabilities, Current | $50.4亿 | $49.2亿 | +2.3% | $54.9亿 | $48.3亿 | +13.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $26.1亿2026-03-31 | $25.3亿 | +3.4% | $26.1亿 | $25.3亿 | +3.4% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$7.49亿 | -$8.98亿 | +16.6% | -$7.45亿 | -$9.32亿 | +20.1% |
| Additional Paid in Capital | $85.9亿 | $84.5亿 | +1.6% | $82.8亿 | $83.7亿 | -1.1% |
| Amortization | $1.26亿 | $9500万 | +32.6% | $4.73亿 | $3.94亿 | +20.1% |
| Amortization of Intangible Assets | $7400万 | $5000万 | +48.0% | $2.76亿 | $2.26亿 | +22.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 100万2025-12-31 | 100万 | 0.0% | 100万2025-03-31 | 100万 | 0.0% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $6700万 | $5500万 | +21.8% | $2.47亿 | $2.26亿 | +9.3% |
| Asset Impairment Charges | – | – | – | $0 | $0 | – |
| Assets | $883亿 | $813亿 | +8.6% | $823亿 | $751亿 | +9.6% |
| Assets, Current | $628亿 | $568亿 | +10.6% | $572亿 | $554亿 | +3.3% |
| Buildings and Improvements, Gross | $14.5亿2026-03-31 | $14.3亿 | +1.3% | $14.5亿 | $14.3亿 | +1.3% |
| Business Exit Costs | $5700万 | $4100万 | +39.0% | $1.91亿 | $1.08亿 | +76.9% |
| Capitalized Computer Software, Accumulated Amortization | $7.5亿2026-03-31 | $6.57亿 | +14.2% | $7.5亿 | $6.57亿 | +14.2% |
| Capitalized Computer Software, Amortization | – | – | – | $1.64亿 | $1.35亿 | +21.5% |
| Capitalized Computer Software, Net | $7.64亿2026-03-31 | $6.81亿 | +12.2% | $7.64亿 | $6.81亿 | +12.2% |
| Cash and Cash Equivalents, at Carrying Value | $51.6亿 | $24.2亿 | +113.6% | $39.8亿 | $56.9亿 | -30.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $52.6亿 | $26.8亿 | +95.9% | $40.7亿 | $59.6亿 | -31.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $11.9亿 | -$32.7亿 | +136.3% | -$18.9亿 | $13.7亿 | -237.7% |
| Common Stock, Dividends, Per Share, Declared | $0.82 | $0.71 | +15.5% | $3.17 | $2.75 | +15.3% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 8亿 | 8亿 | 0.0% | 8亿 | 8亿 | 0.0% |
| Common Stock, Shares, Issued | 2.8亿 | 2.8亿 | 0.0% | 2.8亿 | 2.79亿 | +0.4% |
| Common Stock, Value, Issued | $300万 | $300万 | 0.0% | $300万 | $300万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $4.18亿 | $4700万 | +789.4% | $3.37亿 | $1.86亿 | +81.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $6.1亿 | $8.18亿 | -25.4% | $49.5亿 | $32.4亿 | +52.6% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $10.3亿 | $8.65亿 | +18.8% | $52.9亿 | $34.3亿 | +54.1% |
| Construction in Progress, Gross | $5.78亿2026-03-31 | $7.22亿 | -19.9% | $5.78亿 | $7.22亿 | -19.9% |
| Contract with Customer, Liability | $3.66亿2026-03-31 | $3.54亿 | +3.4% | $3.66亿 | $3.54亿 | +3.4% |
| Cost of Goods and Services Sold | $1020亿 | $945亿 | +7.6% | $3890亿 | $3460亿 | +12.5% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4.37亿 | $5.52亿 | -20.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.18亿 | $2.54亿 | -14.2% |
| Current Income Tax Expense (Benefit) | – | – | – | $8.72亿 | $9.88亿 | -11.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2.17亿 | $1.82亿 | +19.2% |
| Debt and Lease Obligation | $97亿 | $78亿 | +24.4% | $65亿 | $57亿 | +14.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $2.48亿 | $1.02亿 | +143.1% |
| Deferred Foreign Income Tax Expense (Benefit) | $4400万2026-03-31 | – | – | -$7500万 | -$2.17亿 | +65.4% |
| Deferred Income Tax Assets, Net | $4.32亿2026-03-31 | $3.67亿 | +17.7% | $4.32亿 | $3.67亿 | +17.7% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $2.3亿 | -$1.1亿 | +309.1% |
| Deferred Income Tax Liabilities, Net | $13.6亿 | $9.87亿 | +38.1% | $13.3亿 | $10.3亿 | +29.3% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $5700万 | $500万 | +1,040.0% |
| Deferred Tax Assets, Gross | $26.4亿2026-03-31 | $26.1亿 | +1.3% | $26.4亿 | $26.1亿 | +1.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $18.8亿2026-03-31 | $19.7亿 | -4.6% | $18.8亿 | $19.7亿 | -4.6% |
| Deferred Tax Assets, Other | $1.94亿2026-03-31 | $2.36亿 | -17.8% | $1.94亿 | $2.36亿 | -17.8% |
| Deferred Tax Assets, Tax Credit Carryforwards | $9.96亿2026-03-31 | $8.47亿 | +17.6% | $9.96亿 | $8.47亿 | +17.6% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $3.33亿2026-03-31 | $2.87亿 | +16.0% | $3.33亿 | $2.87亿 | +16.0% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | $6900万2026-03-31 | $1.36亿 | -49.3% | $6900万 | $1.36亿 | -49.3% |
| Deferred Tax Assets, Valuation Allowance | $7.69亿2026-03-31 | $6.44亿 | +19.4% | $7.69亿 | $6.44亿 | +19.4% |
| Deferred Tax Liabilities, Gross | $27.7亿2026-03-31 | $26.3亿 | +5.6% | $27.7亿 | $26.3亿 | +5.6% |
| Deferred Tax Liabilities, Inventory | $20.1亿2026-03-31 | $21.4亿 | -6.1% | $20.1亿 | $21.4亿 | -6.1% |
| Deferred Tax Liabilities, Net | $8.98亿2026-03-31 | $6.62亿 | +35.6% | $8.98亿 | $6.62亿 | +35.6% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-K 2026-03-31, 10-Q 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-K 2025-03-31, 10-Q 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01