McKesson Corporation (MCK) Fair Value & Analysis
Healthcare · US · Market cap $94.4B · ISIN US58155Q1031
What is McKesson Corporation really worth?
McKesson Corporation
MCK · US
A solid business, but trading 12% above our fair value of $819.31.
Strengths
Risks
For context
Fair value as of: Sep 3, 2026
From 23 valuation models · updated yesterday
Share price +11.0% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits in the upper half of our model range, so the margin of safety is thin.
- Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.
How to read this chart
60‑month range $179.95 – $994.59 · fair‑value band $604.58 – $1,034 · the $921.38 price screens above the $819.31 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 3, 2026.
Analysis
McKesson Corporation (MCK) currently trades at $921.38, while our model-based Fair Value estimate is $819.31, implying the stock looks roughly 12.5% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of $943.17 per share, and 8 of the 23 models we run sit above the $921.38 price. Bear case: the Earnings-Based group reads lowest at $390.88, and 15 of the 23 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, McKesson Corporation generated revenue of $403B at a net margin of 1.2%. Revenue grew 6.0% year over year. Net debt stands at $4.6B. The stock trades on a trailing P/E of 24.0. Fundamentals as of Sep 3, 2026
Our scenario range runs from $604.58 (bear case) to $1,034 (bull case); at $921.38, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 36% fair-value upside, at −11%, MCK screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly $15.24 per share, which is 1.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 23 models by family
Widest divergence: DCF Models ($943.17) versus Dividend Discount ($52.39). Highest evidence: FCF DCF (78).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 70
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: North American Pharmaceutical, Oncology & Multispecialty, Prescription Technology Solutions, and Medical-Surgical Solutions.
Full company description
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: North American Pharmaceutical, Oncology & Multispecialty, Prescription Technology Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products; delivers products to retail pharmacies, hospitals, long-term care centers, clinics, and institutions; and provides logistics and distribution services for manufacturers. It also provides consulting, outsourcing, technological, and other services, as well as sells financial, operational, and clinical solutions to pharmacies; gene therapy with InspiroGene, practice consulting, and vaccine distribution services; and technology solutions, as well as research, insights, technologies, and services to improve cancer and specialty care. In addition, the company helps in solving medication access, affordability, and adherence challenges for patients by working across healthcare to connect patients, pharmacies, providers, pharmacy benefit managers, health plans, and biopharma companies. Further, it offers technology services, which includes electronic prior authorization, prescription price transparency, benefit insight, dispensing support services, patient enrollment, third-party logistics, and wholesale distribution support; medical-surgical supplies, laboratory equipment, pharmaceutical distribution, logistics, and other services to healthcare providers, including physician offices, surgery centers, and hospital reference labs, nursing homes, hospice and home health care agencies, government facilities ,and online marketplaces and retailers. McKesson Corporation was founded in 1833 and is headquartered in Irving, Texas.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
McKesson Corporation reported revenue of $403B in FY2026 versus $264B in FY2022, a compound +11.2%/yr. Reported net income was $4.8B in FY2026, compounding +43.8%/yr from FY2022.
of which total revenue +7.3 % · buybacks/dilution +6.7 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
MCK screens 12% overvalued. Compare with Cencora, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Why Is McKesson (MCK) Up 5.7% Since Last Earnings Report?
- Here's How Much a $1000 Investment in McKesson Made 10 Years Ago Would Be Worth Today
Peer Group
Medical Distribution · 78 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Medical Distribution median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Distribution stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cencora, Inc COR | $330.97 | $211.07 | −36% |
| Cardinal Health, Inc CAH | $234.55 | $141.77 | −40% |
| Henry Schein, Inc HSIC | $88.46 | $71.70 | −19% |
| Shanghai Pharmaceuticals Holding 601607 | ¥16.37 | ¥33.96 | +107% |
| Sinopharm Group 1099 | HK$16.75 | HK$58.67 | +250% |
| Galenica AG GALE | CHF 80.85 | CHF 61.79 | −24% |
| Guangzhou Baiyunshan Pharmaceutical Holdings 600332 | ¥21.03 | ¥28.65 | +36% |
| Jointown Pharmaceutical Group 600998 | ¥5.04 | ¥9.84 | +95% |
| Asker Healthcare Group ASKER | kr 74.40 | kr 28.26 | −62% |
| China National Medicines Corporation 600511 | ¥26.84 | ¥58.22 | +117% |
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