Question 1

What is McKesson's P/FCF ratio?

Accepted Answer

McKesson (MCK) P/FCF ratio is 16.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for McKesson?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For McKesson specifically, the relevant sector benchmark is the current sector median of 19.8×.

Question 5

Is McKesson's P/FCF ratio high or low?

Accepted Answer

McKesson's P/FCF ratio of 16.0× is above its own 5-year average of 15.3× and below the sector median of 19.8×. That places the current reading at the 65th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is McKesson's historical P/FCF ratio range?

Accepted Answer

In the available daily series, McKesson (MCK) P/FCF ratio has ranged from a low of 5.0× in 2005 to a high of 56.0× in 2025. The 5-year average is 15.3× and the 5-year median is 13.3×.

Question 7

What was McKesson's P/FCF ratio in 2026?

Accepted Answer

McKesson (MCK) P/FCF ratio at the end of 2026 was 17.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does McKesson's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2026	$105.66B	$5.94B	17.8×	+1.7×	Mar 31, 2026
2025	$84.26B	$5.23B	16.1×	-3.2×	Mar 31, 2025
2024	$70.12B	$3.63B	19.3×	+8.7×	Mar 31, 2024
2023	$48.74B	$4.60B	10.6×	-1.0×	Mar 31, 2023
2022	$45.06B	$3.90B	11.6×	+3.6×	Mar 31, 2022
2021	$30.97B	$3.90B	7.9×	+1.9×	Mar 31, 2021
2020	$23.40B	$3.87B	6.0×	-0.5×	Mar 31, 2020
2019	$22.69B	$3.48B	6.5×	-1.1×	Mar 31, 2019
2018	$28.88B	$3.77B	7.7×	+0.2×	Mar 31, 2018
2017	$31.43B	$4.18B	7.5×	-4.4×	Mar 31, 2017
2016	$35.70B	$3.00B	11.9×	-8.5×	Mar 31, 2016
2015	$52.48B	$2.57B	20.4×	+5.5×	Mar 31, 2015
2014	$40.61B	$2.72B	14.9×	+3.1×	Mar 31, 2014
2013	$24.50B	$2.08B	11.8×	+3.7×	Mar 31, 2013
2012	$20.71B	$2.55B	8.1×	-2.0×	Mar 31, 2012
2011	$19.68B	$1.95B	10.1×	+1.1×	Mar 31, 2011
2010	$17.48B	$1.94B	9.0×	-0.8×	Mar 31, 2010
2009	$9.46B	$959.00M	9.9×	-18.4×	Mar 31, 2009
2008	$14.51B	$513.00M	28.3×	+14.3×	Mar 31, 2008
2007	$17.27B	$1.23B	14.0×	+7.9×	Mar 31, 2007
2006	$15.74B	$2.58B	6.1×	-1.9×	Mar 31, 2006
2005	$11.21B	$1.40B	8.0×	-11.4×	Mar 31, 2005
2004	$8.73B	$448.40M	19.5×	+8.1×	Mar 31, 2004
2003	$7.22B	$634.80M	11.4×	-43.4×	Mar 31, 2003
2002	$10.81B	$197.50M	54.8×	—	Mar 31, 2002


AbbVie (ABBV)	18.5×
Align Technology (ALGN)	17.8×
Gilead Sciences (GILD)	16.9×
DexCom (DXCM)	16.9×
Pfizer (PFE)	16.7×
Humana (HUM)	16.4×
Quest Diagnostics (DGX)	16.3×
Labcorp Holdings (LH)	15.9×
Becton, Dickinson and (BDX)	14.0×
HCA Healthcare (HCA)	13.5×
Incyte (INCY)	12.9×
UnitedHealth Group (UNH)	12.5×
CVS Health (CVS)	12.4×
Universal Health Services (UHS)	12.2×
Baxter International (BAX)	12.1×
Cardinal Health (CAH)	11.3×
IQVIA (IQV)	10.7×
Bristol-Myers Squibb (BMY)	10.4×
Biogen (BIIB)	10.3×
Elevance Health (ELV)	10.0×
Zimmer Biomet Holdings (ZBH)	9.6×
Cigna (CI)	9.1×
Viatris (VTRS)	9.1×
DaVita (DVA)	6.9×
Centene (CNC)	2.5×

P/FCF Ratio for McKesson (MCK)

P/FCF Ratio daily chart for McKesson (MCK)

Historical P/FCF Ratio for McKesson (MCK) from 2002 to 2026

About P/FCF Ratio at McKesson (MCK)

McKesson P/FCF Ratio by Year

McKesson P/FCF Ratio 2026: 17.8×

McKesson P/FCF Ratio 2025: 16.1×

McKesson P/FCF Ratio 2024: 19.3×

McKesson P/FCF Ratio 2023: 10.6×

McKesson P/FCF Ratio 2022: 11.6×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

McKesson (MCK) Key Financials

P/FCF Ratio daily chart for McKesson (MCK)

Historical P/FCF Ratio for McKesson (MCK) from 2002 to 2026

About P/FCF Ratio at McKesson (MCK)

McKesson P/FCF Ratio by Year

McKesson P/FCF Ratio 2026: 17.8×

McKesson P/FCF Ratio 2025: 16.1×

McKesson P/FCF Ratio 2024: 19.3×

McKesson P/FCF Ratio 2023: 10.6×

McKesson P/FCF Ratio 2022: 11.6×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is McKesson's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for McKesson?

+Is McKesson's P/FCF ratio high or low?

+What is McKesson's historical P/FCF ratio range?

+What was McKesson's P/FCF ratio in 2026?

+Why does McKesson's P/FCF ratio change over time?

McKesson (MCK) Key Financials