- Income Tax Expense (Benefit)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Current Ratio
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
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McKesson Corp. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Income Tax Expense (Benefit)
12 months ended: | Mar 31, 2016 | Mar 31, 2015 | Mar 31, 2014 | Mar 31, 2013 | Mar 31, 2012 | Mar 31, 2011 | |||||||
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Income tax expense |
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
Item | Description | The company |
---|---|---|
Current | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | McKesson Corp. current decreased from 2014 to 2015 but then increased from 2015 to 2016 exceeding 2014 level. |
Deferred | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | McKesson Corp. deferred increased from 2014 to 2015 but then slightly decreased from 2015 to 2016 not reaching 2014 level. |
Income tax expense | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | McKesson Corp. income tax expense increased from 2014 to 2015 and from 2015 to 2016. |
Components of Deferred Tax Assets and Liabilities
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
Item | Description | The company |
---|---|---|
Subtotal | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | McKesson Corp. subtotal decreased from 2014 to 2015 but then increased from 2015 to 2016 not reaching 2014 level. |
Assets | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | McKesson Corp. assets decreased from 2014 to 2015 but then increased from 2015 to 2016 not reaching 2014 level. |
Net deferred tax asset (liability) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | McKesson Corp. net deferred tax asset (liability) increased from 2014 to 2015 but then slightly decreased from 2015 to 2016. |
Deferred Tax Assets and Liabilities, Classification
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
Item | Description | The company |
---|---|---|
Long-term deferred tax asset | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | McKesson Corp. long-term deferred tax asset increased from 2014 to 2015 and from 2015 to 2016. |
Long-term deferred tax liability | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | McKesson Corp. long-term deferred tax liability decreased from 2014 to 2015 but then increased from 2015 to 2016 exceeding 2014 level. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
McKesson Corp., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
Financial ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | McKesson Corp. adjusted current ratio deteriorated from 2014 to 2015 and from 2015 to 2016. |
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | McKesson Corp. adjusted net profit margin ratio deteriorated from 2014 to 2015 but then improved from 2015 to 2016 exceeding 2014 level. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | McKesson Corp. adjusted total asset turnover ratio improved from 2014 to 2015 and from 2015 to 2016. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
McKesson Corp. adjusted financial leverage ratio increased from 2014 to 2015 but then slightly decreased from 2015 to 2016. |
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | McKesson Corp. adjusted ROE improved from 2014 to 2015 and from 2015 to 2016. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | McKesson Corp. adjusted ROA improved from 2014 to 2015 and from 2015 to 2016. |
McKesson Corp., Financial Ratios: Reported vs. Adjusted
Adjusted Current Ratio
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
2016 Calculations
1 Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= ÷ =
Liquidity ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | McKesson Corp. adjusted current ratio deteriorated from 2014 to 2015 and from 2015 to 2016. |
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
2016 Calculations
1 Net profit margin = 100 × Net income attributable to McKesson Corporation ÷ Revenues
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income attributable to McKesson Corporation ÷ Revenues
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | McKesson Corp. adjusted net profit margin ratio deteriorated from 2014 to 2015 but then improved from 2015 to 2016 exceeding 2014 level. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
2016 Calculations
1 Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= ÷ =
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | McKesson Corp. adjusted total asset turnover ratio improved from 2014 to 2015 and from 2015 to 2016. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
2016 Calculations
1 Financial leverage = Total assets ÷ Total McKesson Corporation stockholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total McKesson Corporation stockholders’ equity
= ÷ =
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
McKesson Corp. adjusted financial leverage ratio increased from 2014 to 2015 but then slightly decreased from 2015 to 2016. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
2016 Calculations
1 ROE = 100 × Net income attributable to McKesson Corporation ÷ Total McKesson Corporation stockholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income attributable to McKesson Corporation ÷ Adjusted total McKesson Corporation stockholders’ equity
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | McKesson Corp. adjusted ROE improved from 2014 to 2015 and from 2015 to 2016. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31).
2016 Calculations
1 ROA = 100 × Net income attributable to McKesson Corporation ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income attributable to McKesson Corporation ÷ Adjusted total assets
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | McKesson Corp. adjusted ROA improved from 2014 to 2015 and from 2015 to 2016. |