MCKESSON CORPORATION Reports Impressive First Quarter Earnings Results for FY 2024
August 9, 2023
☀️Earnings Overview
On August 2nd 2023, MCKESSON CORPORATION ($NYSE:MCK) reported their earnings for the first quarter of FY 2024 (ending June 30 2023), with total revenue of USD 74483.0 million, an increase of 10.9% compared to the same quarter in the prior year. Net income was also up 24.7%, amounting to USD 958.0 million.
Stock Price
The stock opened at $406.9 and closed at $413.1, representing a 2.0% increase from the previous closing price of $405.0. The company remains confident that their investments in innovative solutions and technology will help them continue to deliver positive results in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mckesson Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 284.04k | 3.75k | 1.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mckesson Corporation. More…
| Operations | Investing | Financing |
| 5.05k | -730 | -4.03k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mckesson Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 64.1k | 65.34k | -11.88 |
Key Ratios Snapshot
Some of the financial key ratios for Mckesson Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.1% | 18.1% | 1.7% |
| FCF Margin | ROE | ROA |
| 1.6% | -179.4% | 4.8% |
Analysis
GoodWhale has just completed an analysis of MCKESSON CORPORATION‘s wellbeing. Our findings indicate that MCKESSON CORPORATION has a very strong health score of 8/10, according to our Star Chart evaluation system. Specifically, the company has solid cashflows and debt, indicating that it is capable of paying off its debt and funding its future operations. When looking at MCKESSON CORPORATION’s other factors of success, our analysis reveals that it is strong in assets, medium in growth, profitability and weak in dividend. Based on these results, we have classified MCKESSON CORPORATION as a ‘rhino’, which is a type of company we have concluded has achieved moderate revenue or earnings growth. Given these results, investors interested in companies with moderate growth potential may be interested in MCKESSON CORPORATION. Furthermore, investors seeking stability may be attracted to the company’s strong asset base and financial health. Ultimately, this company may appeal to a wide variety of investors depending on their individual investment goals. More…
Peers
In the healthcare sector, McKesson Corp competes against Cardinal Health Inc, AmerisourceBergen Corp, and Sigma Healthcare Ltd. These companies are all major players in the healthcare industry, and each one brings something unique to the table. However, McKesson Corp is the largest of these companies, and its size gives it a significant competitive advantage.
– Cardinal Health Inc ($NYSE:CAH)
Cardinal Health Inc is a healthcare services and products company that operates in two segments: Pharmaceutical and Medical. The company’s Pharmaceutical segment includes sales of branded, generic and over-the-counter pharmaceutical products, as well as nuclear pharmacy services. The Medical segment provides a range of medical products and services, including surgical and medical products, medical devices and laboratory products and services. Cardinal Health Inc has a market cap of 18.55B as of 2022. The company’s Return on Equity for the same period is 55.12%.
– AmerisourceBergen Corp ($NYSE:ABC)
AmerisourceBergen is one of the world’s largest pharmaceutical services companies. It offers a range of services and products to healthcare providers and pharmaceutical companies. The company has a market cap of 29.64B as of 2022 and a return on equity of 417.0%. AmerisourceBergen is a publicly traded company listed on the New York Stock Exchange.
– Sigma Healthcare Ltd ($ASX:SIG)
Sigma Healthcare is a leading full-line wholesale and distribution company that services pharmacies across Australia. The company has a market capitalisation of $693.83 million as of March 2022 and a return on equity of 0.46%. Sigma Healthcare is a diversified healthcare company with operations in both pharmacy and hospital sectors. The company’s primary activities include the wholesale distribution of pharmaceuticals, medical and surgical supplies. Sigma Healthcare also owns and operates a number of community pharmacies across Australia.
Summary
Investors in McKesson Corporation are likely to be pleased with the company’s first quarter results for FY 2024. Revenue for the period ending June 30th 2023 was up 10.9% year-over-year, reaching USD 74483.0 million, while net income grew 24.7% to USD 958.0 million. These figures demonstrate a strong start to the financial year and bode well for investors looking for sustained growth in the future.
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