# McKesson (MCK) Forecast Calculator

Interactive five-year financial forecast and DCF for McKesson. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/mckesson/forecast
- Industry: Healthcare
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 238228000000 | 3901000000 | -4130000000 | -4539000000 |
| 2022 | 263966000000 | 3899000000 | 2831000000 | 1114000000 |
| 2023 | 276711000000 | 4601000000 | 5013000000 | 3560000000 |
| 2024 | 308951000000 | 3627000000 | 4570000000 | 3002000000 |
| 2025 | 359051000000 | 5226000000 | 5088000000 | 3295000000 |

## Frequently asked questions

### What is McKesson Corporation's primary business model?

McKesson Corporation operates as a leading global healthcare services and information technology company, primarily distributing pharmaceuticals and medical supplies. Its business model is characterized as asset-light, high-volume, and low-margin, acting as a critical intermediary in the healthcare supply chain.

### How does McKesson generate revenue across its business segments?

McKesson primarily generates revenue through its U.S. Pharmaceutical segment, which accounts for approximately 91% of its total revenue. Smaller contributions come from its International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS) segments.

### What is McKesson's capital expenditure strategy, and how does it impact its financial model?

McKesson maintains an extremely low capital expenditure as a percentage of revenue, typically around 0.2% to 0.3%. This capex is heavily skewed towards maintenance and IT/automation upgrades in its distribution centers, reflecting its asset-light distribution model.

### What is the primary purpose of the McKesson financial model available for download?

The downloadable McKesson financial model is designed as a sum-of-the-parts (SOTP) equity valuation and scenario analysis tool. It specifically aims to evaluate the financial impact of the planned separation of the Medical-Surgical Solutions segment and the margin accretion from expanding Oncology and Biopharma platforms.

### How does McKesson's working capital profile affect its financial performance?

McKesson operates with a highly efficient, often negative or near-zero net working capital profile. This is achieved by effectively using supplier payment terms to fund inventory, which positively impacts its cash flow dynamics.

### Can I download an Excel financial model for McKesson, and what is its forecast horizon?

Yes, an Excel financial model for McKesson is available for download. This model provides a forecast horizon spanning from FY2026 through FY2030, offering a detailed look into future financial projections.