McKESSON CORPORATION

MCK · Industrials · $101.0B mkt cap · FY2026 filings · Shallow moat

Doesn't clear the bar

Shallow moat

The four filters

Pricing power16

Median gross margin 5.0% over 10y, stable.

Returns on capital85

Median ROIC 28.9%, above the 9% hurdle in 57% of years.

Balance-sheet safety95

Net debt/EBITDA 0.4x, interest coverage 25x.

Capital discipline52

Owner earnings -1.7%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

70% above value

Owner earnings (normalized): $3.3B
Est. intrinsic value / share: $493.41
Recent price: $840.43
Discount to value: 70% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell MCK. See the disclaimer.