Cencora vs McKesson
McKesson is the larger business, with $403.43bn of revenue in fiscal 2026 against $321.33bn for Cencora (1.3 times as much). McKesson grew faster (12.4% against 9.3%). McKesson kept more of each dollar of sales as profit: a net margin of 1.2% against 0.5%.
| Latest fiscal year | CencoraCOR, 2025 | McKessonMCK, 2026 |
|---|---|---|
| Revenue | $321.33bn | $403.43bn |
| Revenue growth | 9.3% | 12.4% |
| Net income | $1.55bn | $4.76bn |
| Operating margin | — | 1.5% |
| Net margin | 0.5% | 1.2% |
| Return on equity | 144.3% | — |
| Free cash flow | $3.21bn | $5.72bn |
| Cash | $4.36bn | $3.98bn |
| Total debt | $7.66bn | $6.53bn |
| Debt to equity | — | — |
| Dividend per share | $2.20 | $3.17 |
| Dividend yield | 0.7% | 0.3% |
| Share buybacks | $435m | $4.75bn |
| Employees | 46,000 | 43,000 |
| Market value | $64.78bn | $119.67bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 40 (Weak) | 43 (Weak) |
| Insider trades, 12 months | 3 buys, 12 sales | 0 buys, 19 sales |