McKesson Corporation
S&P 500
Cash Flow
Cash Flow Breakdown
Figures in US$OperatingInvestingFinancing
How to read this: the three bars show where cash moved each year. Operating is cash from the core business (you generally want this positive and growing). Investing is usually negative — money spent on assets or acquisitions. Financing shows money raised from, or returned to, lenders and shareholders. Bars above the line are cash in; bars below are cash out.
Operating Cash Flow vs Capex
Figures in US$Operating Cash FlowCapital Expenditure
How to read this: operating cash flow is the cash the business generated; capital expenditure is what it spent on long-term assets like plant and equipment. The gap between them is roughly free cash flow — the cash left over. A wide gap (operating well above capex) means the business funds its investment comfortably from its own earnings.
| Period | Operating Cash Flow | Investing Cash Flow | Financing Cash Flow | Capital Expenditure |
|---|---|---|---|---|
| FY2015 | $3.11B | $-677.00M | $-968.00M | $376.00M |
| FY2016 | $3.67B | $-1.56B | $-3.45B | $488.00M |
| FY2017 | $4.74B | $-3.27B | $-2.07B | $404.00M |
| FY2018 | $4.35B | $-2.99B | $-3.08B | $405.00M |
| FY2019 | $4.04B | $-1.38B | $-2.23B | $426.00M |
| FY2020 | $4.37B | $-579.00M | $-2.73B | $362.00M |
| FY2021 | $4.54B | $-415.00M | $-1.69B | $451.00M |
| FY2022 | $4.43B | $-89.00M | $-6.32B | $388.00M |
| FY2023 | $5.16B | $-542.00M | $-4.37B | $390.00M |
| FY2024 | $4.31B | $-1.07B | $-3.34B | $431.00M |
| FY2025 | $6.09B | $-733.00M | $-3.97B | $537.00M |
| FY2026 | $6.16B | $-3.43B | $-4.63B | $436.00M |
Figures in USD. Educational data only.
Understanding these terms
Plain-English explanations of each figure in the table above, and what a beginner typically looks at. These are educational descriptions only, not advice.
- Operating Cash Flow
- Cash produced by the company's core operations during the period. The US equivalent of "Cash from Operating Activity".How a beginner reads it: A beginner uses this as a reality check on profit, since it reflects cash actually collected. Healthy, consistent operating cash flow underpins a company's ability to invest and repay debt.
- Investing Cash Flow
- Cash used for or generated by buying and selling long-term assets and investments. The US equivalent of "Cash from Investing Activity".How a beginner reads it: A beginner expects this to be negative for companies investing in growth. Reading it next to operating cash flow shows whether the business funds its investments from its own earnings.
- Financing Cash Flow
- Cash flows with lenders and shareholders — borrowing, repaying, issuing shares, buybacks, and dividends. The US equivalent of "Cash from Financing Activity".How a beginner reads it: A beginner reads this to understand whether the company is taking in money (borrowing/issuing) or paying it out (repaying/dividends), and how that fits the operating picture.
- Capital Expenditure
- Money spent on buying or upgrading long-lived assets like plant, equipment, and buildings. Often shortened to "capex".How a beginner reads it: A beginner reads capex against operating cash flow to see whether a company funds its investment from its own earnings. Operating cash flow minus capex is roughly free cash flow.