Stock Analysis on Net
Stock Analysis on Net

McKesson Corp. (NYSE:MCK)

This company has been moved to the archive! The financial data has not been updated since October 27, 2016.

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

McKesson Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Sep 30, 2016 20.26% = 3.28% × 6.17
Jun 30, 2016 24.05% = 3.84% × 6.26
Mar 31, 2016 25.30% = 3.99% × 6.34
Dec 31, 2015 22.07% = 3.56% × 6.21
Sep 30, 2015 20.45% = 3.22% × 6.35
Jun 30, 2015 18.63% = 2.95% × 6.32
Mar 31, 2015 18.45% = 2.74% × 6.73
Dec 31, 2014 18.88% = 3.11% × 6.07
Sep 30, 2014 14.63% = 2.50% × 5.85
Jun 30, 2014 13.83% = 2.34% × 5.90
Mar 31, 2014 14.82% = 2.44% × 6.07
Dec 31, 2013 14.34% = 3.16% × 4.54
Sep 30, 2013 17.34% = 3.85% × 4.50
Jun 30, 2013 18.66% = 3.89% × 4.79
Mar 31, 2013 18.93% = 3.85% × 4.92
Dec 31, 2012 20.92% = 4.79% × 4.37
Sep 30, 2012 20.76% = 4.86% × 4.27
Jun 30, 2012 20.78% = 4.72% × 4.41
Mar 31, 2012 20.54% = 4.24% × 4.84
Dec 31, 2011 17.49% = 3.93% × 4.45
Sep 30, 2011 16.29% = 3.63% × 4.48
Jun 30, 2011 17.20% = 3.84% × 4.48
Mar 31, 2011 16.65% = 3.89% × 4.28
Dec 31, 2010 — = — × 4.29
Sep 30, 2010 — = — × 3.93
Jun 30, 2010 — = — × 3.98

Based on: 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-K (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-K (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-K (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-K (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-K (reporting date: 2012-03-31), 10-Q (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-K (reporting date: 2011-03-31), 10-Q (reporting date: 2010-12-31), 10-Q (reporting date: 2010-09-30), 10-Q (reporting date: 2010-06-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2017 is the decrease in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

McKesson Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Sep 30, 2016 20.26% = 0.99% × 3.33 × 6.17
Jun 30, 2016 24.05% = 1.15% × 3.33 × 6.26
Mar 31, 2016 25.30% = 1.18% × 3.37 × 6.34
Dec 31, 2015 22.07% = 1.04% × 3.43 × 6.21
Sep 30, 2015 20.45% = 0.96% × 3.36 × 6.35
Jun 30, 2015 18.63% = 0.90% × 3.27 × 6.32
Mar 31, 2015 18.45% = 0.82% × 3.32 × 6.73
Dec 31, 2014 18.88% = 1.00% × 3.13 × 6.07
Sep 30, 2014 14.63% = 0.82% × 3.06 × 5.85
Jun 30, 2014 13.83% = 0.83% × 2.81 × 5.90
Mar 31, 2014 14.82% = 0.92% × 2.66 × 6.07
Dec 31, 2013 14.34% = 0.88% × 3.57 × 4.54
Sep 30, 2013 17.34% = 1.09% × 3.53 × 4.50
Jun 30, 2013 18.66% = 1.12% × 3.49 × 4.79
Mar 31, 2013 18.93% = 1.09% × 3.52 × 4.92
Dec 31, 2012 20.92% = 1.30% × 3.69 × 4.37
Sep 30, 2012 20.76% = 1.30% × 3.74 × 4.27
Jun 30, 2012 20.78% = 1.21% × 3.89 × 4.41
Mar 31, 2012 20.54% = 1.14% × 3.71 × 4.84
Dec 31, 2011 17.49% = 1.09% × 3.62 × 4.45
Sep 30, 2011 16.29% = 0.99% × 3.68 × 4.48
Jun 30, 2011 17.20% = 1.04% × 3.70 × 4.48
Mar 31, 2011 16.65% = 1.07% × 3.63 × 4.28
Dec 31, 2010 — = — × — × 4.29
Sep 30, 2010 — = — × — × 3.93
Jun 30, 2010 — = — × — × 3.98

Based on: 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-K (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-K (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-K (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-K (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-K (reporting date: 2012-03-31), 10-Q (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-K (reporting date: 2011-03-31), 10-Q (reporting date: 2010-12-31), 10-Q (reporting date: 2010-09-30), 10-Q (reporting date: 2010-06-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2017 is the decrease in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

McKesson Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Sep 30, 2016 20.26% = 0.69 × 0.89 × 1.59% × 3.33 × 6.17
Jun 30, 2016 24.05% = 0.71 × 0.90 × 1.79% × 3.33 × 6.26
Mar 31, 2016 25.30% = 0.71 × 0.90 × 1.84% × 3.37 × 6.34
Dec 31, 2015 22.07% = 0.68 × 0.89 × 1.71% × 3.43 × 6.21
Sep 30, 2015 20.45% = 0.66 × 0.88 × 1.63% × 3.36 × 6.35
Jun 30, 2015 18.63% = 0.65 × 0.87 × 1.58% × 3.27 × 6.32
Mar 31, 2015 18.45% = 0.64 × 0.86 × 1.49% × 3.32 × 6.73
Dec 31, 2014 18.88% = 0.71 × 0.86 × 1.64% × 3.13 × 6.07
Sep 30, 2014 14.63% = 0.63 × 0.85 × 1.53% × 3.06 × 5.85
Jun 30, 2014 13.83% = 0.62 × 0.85 × 1.57% × 2.81 × 5.90
Mar 31, 2014 14.82% = 0.63 × 0.87 × 1.68% × 2.66 × 6.07
Dec 31, 2013 14.34% = 0.60 × 0.88 × 1.67% × 3.57 × 4.54
Sep 30, 2013 17.34% = 0.68 × 0.89 × 1.80% × 3.53 × 4.50
Jun 30, 2013 18.66% = 0.70 × 0.89 × 1.80% × 3.49 × 4.79
Mar 31, 2013 18.93% = 0.70 × 0.89 × 1.76% × 3.52 × 4.92
Dec 31, 2012 20.92% = 0.73 × 0.91 × 1.96% × 3.69 × 4.37
Sep 30, 2012 20.76% = 0.73 × 0.90 × 1.96% × 3.74 × 4.27
Jun 30, 2012 20.78% = 0.74 × 0.89 × 1.84% × 3.89 × 4.41
Mar 31, 2012 20.54% = 0.73 × 0.88 × 1.77% × 3.71 × 4.84
Dec 31, 2011 17.49% = 0.72 × 0.87 × 1.75% × 3.62 × 4.45
Sep 30, 2011 16.29% = 0.70 × 0.86 × 1.64% × 3.68 × 4.48
Jun 30, 2011 17.20% = 0.71 × 0.87 × 1.68% × 3.70 × 4.48
Mar 31, 2011 16.65% = 0.70 × 0.88 × 1.72% × 3.63 × 4.28
Dec 31, 2010 — = — × — × — × — × 4.29
Sep 30, 2010 — = — × — × — × — × 3.93
Jun 30, 2010 — = — × — × — × — × 3.98

Based on: 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-K (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-K (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-K (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-K (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-K (reporting date: 2012-03-31), 10-Q (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-K (reporting date: 2011-03-31), 10-Q (reporting date: 2010-12-31), 10-Q (reporting date: 2010-09-30), 10-Q (reporting date: 2010-06-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2017 is the decrease in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

McKesson Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Sep 30, 2016 3.28% = 0.99% × 3.33
Jun 30, 2016 3.84% = 1.15% × 3.33
Mar 31, 2016 3.99% = 1.18% × 3.37
Dec 31, 2015 3.56% = 1.04% × 3.43
Sep 30, 2015 3.22% = 0.96% × 3.36
Jun 30, 2015 2.95% = 0.90% × 3.27
Mar 31, 2015 2.74% = 0.82% × 3.32
Dec 31, 2014 3.11% = 1.00% × 3.13
Sep 30, 2014 2.50% = 0.82% × 3.06
Jun 30, 2014 2.34% = 0.83% × 2.81
Mar 31, 2014 2.44% = 0.92% × 2.66
Dec 31, 2013 3.16% = 0.88% × 3.57
Sep 30, 2013 3.85% = 1.09% × 3.53
Jun 30, 2013 3.89% = 1.12% × 3.49
Mar 31, 2013 3.85% = 1.09% × 3.52
Dec 31, 2012 4.79% = 1.30% × 3.69
Sep 30, 2012 4.86% = 1.30% × 3.74
Jun 30, 2012 4.72% = 1.21% × 3.89
Mar 31, 2012 4.24% = 1.14% × 3.71
Dec 31, 2011 3.93% = 1.09% × 3.62
Sep 30, 2011 3.63% = 0.99% × 3.68
Jun 30, 2011 3.84% = 1.04% × 3.70
Mar 31, 2011 3.89% = 1.07% × 3.63
Dec 31, 2010 — = — × —
Sep 30, 2010 — = — × —
Jun 30, 2010 — = — × —

Based on: 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-K (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-K (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-K (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-K (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-K (reporting date: 2012-03-31), 10-Q (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-K (reporting date: 2011-03-31), 10-Q (reporting date: 2010-12-31), 10-Q (reporting date: 2010-09-30), 10-Q (reporting date: 2010-06-30).

The primary reason for the decrease in return on assets ratio (ROA) over Q2 2017 is the decrease in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

McKesson Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Sep 30, 2016 3.28% = 0.69 × 0.89 × 1.59% × 3.33
Jun 30, 2016 3.84% = 0.71 × 0.90 × 1.79% × 3.33
Mar 31, 2016 3.99% = 0.71 × 0.90 × 1.84% × 3.37
Dec 31, 2015 3.56% = 0.68 × 0.89 × 1.71% × 3.43
Sep 30, 2015 3.22% = 0.66 × 0.88 × 1.63% × 3.36
Jun 30, 2015 2.95% = 0.65 × 0.87 × 1.58% × 3.27
Mar 31, 2015 2.74% = 0.64 × 0.86 × 1.49% × 3.32
Dec 31, 2014 3.11% = 0.71 × 0.86 × 1.64% × 3.13
Sep 30, 2014 2.50% = 0.63 × 0.85 × 1.53% × 3.06
Jun 30, 2014 2.34% = 0.62 × 0.85 × 1.57% × 2.81
Mar 31, 2014 2.44% = 0.63 × 0.87 × 1.68% × 2.66
Dec 31, 2013 3.16% = 0.60 × 0.88 × 1.67% × 3.57
Sep 30, 2013 3.85% = 0.68 × 0.89 × 1.80% × 3.53
Jun 30, 2013 3.89% = 0.70 × 0.89 × 1.80% × 3.49
Mar 31, 2013 3.85% = 0.70 × 0.89 × 1.76% × 3.52
Dec 31, 2012 4.79% = 0.73 × 0.91 × 1.96% × 3.69
Sep 30, 2012 4.86% = 0.73 × 0.90 × 1.96% × 3.74
Jun 30, 2012 4.72% = 0.74 × 0.89 × 1.84% × 3.89
Mar 31, 2012 4.24% = 0.73 × 0.88 × 1.77% × 3.71
Dec 31, 2011 3.93% = 0.72 × 0.87 × 1.75% × 3.62
Sep 30, 2011 3.63% = 0.70 × 0.86 × 1.64% × 3.68
Jun 30, 2011 3.84% = 0.71 × 0.87 × 1.68% × 3.70
Mar 31, 2011 3.89% = 0.70 × 0.88 × 1.72% × 3.63
Dec 31, 2010 — = — × — × — × —
Sep 30, 2010 — = — × — × — × —
Jun 30, 2010 — = — × — × — × —

Based on: 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-K (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-K (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-K (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-K (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-K (reporting date: 2012-03-31), 10-Q (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-K (reporting date: 2011-03-31), 10-Q (reporting date: 2010-12-31), 10-Q (reporting date: 2010-09-30), 10-Q (reporting date: 2010-06-30).

The primary reason for the decrease in return on assets ratio (ROA) over Q2 2017 is the decrease in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

McKesson Corp., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Sep 30, 2016 0.99% = 0.69 × 0.89 × 1.59%
Jun 30, 2016 1.15% = 0.71 × 0.90 × 1.79%
Mar 31, 2016 1.18% = 0.71 × 0.90 × 1.84%
Dec 31, 2015 1.04% = 0.68 × 0.89 × 1.71%
Sep 30, 2015 0.96% = 0.66 × 0.88 × 1.63%
Jun 30, 2015 0.90% = 0.65 × 0.87 × 1.58%
Mar 31, 2015 0.82% = 0.64 × 0.86 × 1.49%
Dec 31, 2014 1.00% = 0.71 × 0.86 × 1.64%
Sep 30, 2014 0.82% = 0.63 × 0.85 × 1.53%
Jun 30, 2014 0.83% = 0.62 × 0.85 × 1.57%
Mar 31, 2014 0.92% = 0.63 × 0.87 × 1.68%
Dec 31, 2013 0.88% = 0.60 × 0.88 × 1.67%
Sep 30, 2013 1.09% = 0.68 × 0.89 × 1.80%
Jun 30, 2013 1.12% = 0.70 × 0.89 × 1.80%
Mar 31, 2013 1.09% = 0.70 × 0.89 × 1.76%
Dec 31, 2012 1.30% = 0.73 × 0.91 × 1.96%
Sep 30, 2012 1.30% = 0.73 × 0.90 × 1.96%
Jun 30, 2012 1.21% = 0.74 × 0.89 × 1.84%
Mar 31, 2012 1.14% = 0.73 × 0.88 × 1.77%
Dec 31, 2011 1.09% = 0.72 × 0.87 × 1.75%
Sep 30, 2011 0.99% = 0.70 × 0.86 × 1.64%
Jun 30, 2011 1.04% = 0.71 × 0.87 × 1.68%
Mar 31, 2011 1.07% = 0.70 × 0.88 × 1.72%
Dec 31, 2010 — = — × — × —
Sep 30, 2010 — = — × — × —
Jun 30, 2010 — = — × — × —

Based on: 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-K (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-K (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-K (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-K (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-K (reporting date: 2012-03-31), 10-Q (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-K (reporting date: 2011-03-31), 10-Q (reporting date: 2010-12-31), 10-Q (reporting date: 2010-09-30), 10-Q (reporting date: 2010-06-30).

The primary reason for the decrease in net profit margin ratio over Q2 2017 is the decrease in operating profitability measured by EBIT margin ratio.