McKesson Corporation (MCK): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage complexe de la distribution et de la technologie des soins de santé, McKesson Corporation est une puissance transformatrice, tissant ensemble la logistique pharmaceutique, les solutions technologiques avancées et les innovations stratégiques de soins de santé. Avec un modèle commercial qui s'étend sur des chaînes d'approvisionnement complexes et des plateformes numériques de pointe, McKesson s'est positionné comme un lien critique des fabricants, des fournisseurs de soins de santé et des systèmes technologiques. Cette toile complète du modèle commercial dévoile l'architecture stratégique qui permet à McKesson de livrer 276 milliards de dollars Dans les revenus annuels, révolutionnant la façon dont les produits médicaux, l'information et les services circulent à travers l'écosystème des soins de santé.

McKesson Corporation (MCK) - Modèle d'entreprise: partenariats clés

Fabricants pharmaceutiques et fournisseurs de médicaments

McKesson collabore avec plus de 3 000 fabricants pharmaceutiques. Les partenariats clés comprennent:

Fabricant	Détails du partenariat	Volume annuel
Pfizer	Distribution pharmaceutique	12,5 milliards de dollars
Johnson & Johnson	Gestion complète de la chaîne d'approvisionnement	8,7 milliards de dollars
Miserrer	Distribution nationale de médicaments	7,3 milliards de dollars

Fournisseurs de soins de santé et hôpitaux

McKesson dessert environ 25 000 systèmes hospitaliers et établissements de santé.

• 90% des hôpitaux américains sont des clients McKesson
• Couverture de partenariat dans 50 États
• Valeur de contrat du fournisseur de soins de santé annuel: 45,6 milliards de dollars

Technologie et sociétés de logiciels

Les partenariats technologiques stratégiques comprennent:

Partenaire technologique	Focus technologique	Investissement annuel
Microsoft	Infrastructure cloud	37 millions de dollars
SÈVE	Solutions logicielles d'entreprise	28 millions de dollars
Ibm	IA et analyse	22 millions de dollars

Sociétés de gestion des avantages sociaux en pharmacie

McKesson collabore avec les principaux gestionnaires de prestations de pharmacie:

• CVS Caremark: contrat de 15,2 milliards de dollars
• Scripts express: partenariat de 12,7 milliards de dollars
• Optumrx: accord de collaboration de 9,5 milliards de dollars

Équipements médicaux et fournisseurs de fournitures

Partenariats des fournisseurs dans les secteurs des équipements médicaux:

Fournisseur	Catégorie d'équipement	Volume de l'offre annuelle
Medtronic	Dispositifs médicaux	6,8 milliards de dollars
Stryker	Équipement chirurgical	4,5 milliards de dollars
GE Healthcare	Technologies diagnostiques	5,2 milliards de dollars

McKesson Corporation (MCK) - Modèle d'entreprise: activités clés

Distribution pharmaceutique et logistique

McKesson distribue environ 20% de tous les produits pharmaceutiques aux États-Unis, avec des revenus de distribution pharmaceutique annuels de 276,7 milliards de dollars en 2023. La société exploite 31 centres de distribution en Amérique du Nord et dessert plus de 200 000 emplacements de santé.

Métrique de distribution	2023 données
Centres de distribution totaux	31
Revenus de distribution annuelle	276,7 milliards de dollars
Les lieux de santé servis	200,000+

Développement de solutions de technologie des soins de santé

McKesson investit 1,2 milliard de dollars par an dans la recherche et le développement technologiques, en se concentrant sur les plateformes de logiciels de santé.

• Systèmes de dossier de santé électronique (DSE)
• Logiciel de gestion de la pratique
• Solutions de gestion du cycle des revenus
• Technologies de gestion de la pharmacie

Gestion de la chaîne d'approvisionnement médicale

McKesson gère des chaînes d'approvisionnement pour plus de 50 000 fabricants de produits pharmaceutiques et médicaux, un réseau logistique mondial traitant 1,5 milliard de packages par an.

Métrique de la chaîne d'approvisionnement	2023 données
Fabricants gérés	50,000+
Packages annuels traités	1,5 milliard

Optimisation des stocks pharmaceutiques

Les technologies de gestion des stocks de McKesson soutiennent le suivi en temps réel pour une précision des stocks de 99,8% dans les réseaux de soins de santé.

Services d'analyse de logiciels de soins de santé et d'analyse de données

McKesson traite plus de 3,5 milliards de transactions de soins de santé par an via ses plateformes d'analyse de données, avec 4,7 milliards de dollars dédiés au segment des services technologiques.

• Solutions d'analyse prédictive
• Gestion de la santé de la population
• Systèmes d'aide à la décision clinique
• Technologies de suivi pharmaceutique

McKesson Corporation (MCK) - Modèle d'entreprise: Ressources clés

Infrastructure de réseau de distribution étendue

McKesson exploite 30 centres de distribution à travers les États-Unis, couvrant environ 10,4 millions de pieds carrés d'espace d'entrepôt. La société gère plus de 300 000 produits pharmaceutiques et médicaux-chirurgicaux uniques.

Infrastructure de distribution	Métrique
Centres de distribution totaux	30
Espace d'entrepôt	10,4 millions de pieds carrés.
SKU de produits uniques	300,000+

Plateformes de technologie de santé avancée

Les plateformes technologiques de McKesson comprennent:

• Systèmes de pharmacie McKesson
• Plate-forme de connectivité électronique RelayHealth
• Logiciel de gestion d'entreprise

Professionnels pharmaceutiques et de soins de santé qualifiés

McKesson emploie 48 500 professionnels à partir de l'exercice 2023, avec une main-d'œuvre spécialisée dans la distribution pharmaceutique, la technologie des soins de santé et les solutions médicales-chirurgicales.

Capacités d'entreposage stratégique et logistique

Capacité logistique	Métriques de performance
Réalisation quotidienne des commandes	95,7% de livraison le jour le jour suivant
Distribution annuelle des produits	276,7 milliards de dollars en produits médicaux

Analyse des données et systèmes d'information robustes

Les plateformes d'analyse de données de McKesson traitent plus de 3,5 milliards de transactions de santé par an, en tirant parti des technologies avancées d'analyse prédictive et d'apprentissage automatique.

• Suivi des stocks en temps réel
• Prévision de demande prédictive
• Algorithmes d'optimisation de la chaîne d'approvisionnement

McKesson Corporation (MCK) - Modèle d'entreprise: propositions de valeur

Solutions complètes de la chaîne d'approvisionnement pharmaceutique

McKesson Corporation distribue environ 20% de tous les produits pharmaceutiques aux États-Unis, ce qui représente 238,2 milliards de dollars de revenus de distribution pharmaceutique pour l'exercice 2023.

Métrique de la chaîne d'approvisionnement	Valeur
Volume total de distribution pharmaceutique	20% du marché américain
Revenus de distribution pharmaceutique annuelle	238,2 milliards de dollars
Nombre de clients des prestataires de soins de santé	Plus de 67 000

Intégration de technologie de santé rentable

McKesson investit 1,2 milliard de dollars par an dans la recherche et le développement technologiques, en se concentrant sur les systèmes d'information sur les soins de santé et les solutions numériques.

• Solutions d'intégration du dossier de santé électronique (DSE)
• Plateformes logicielles de gestion de la pharmacie
• Technologies de gestion du cycle des revenus

Distribution efficace des produits médicaux

McKesson exploite 30 centres de distribution à travers l'Amérique du Nord, avec plus de 130 000 produits médicaux et chirurgicaux quotidiennement.

Métrique du réseau de distribution	Valeur
Centres de distribution	30
Capacité quotidienne de traitement des produits	130 000 produits
Couverture géographique	Amérique du Nord

Services avancés de gestion des stocks

McKesson fournit un suivi des stocks en temps réel pour 99,7% des transactions d'approvisionnement pharmaceutique et médicale, réduisant les déchets et optimisant l'efficacité de la chaîne d'approvisionnement.

• Réapprovisionnement automatisé
• Prévision de demande prédictive
• Systèmes de livraison juste à temps

Informations sur les soins de santé et plateformes technologiques rationalisées

Les solutions technologiques de McKesson desservent plus de 50% des hôpitaux aux États-Unis, avec des plateformes logicielles générant 4,3 milliards de dollars de revenus technologiques annuels.

Métrique de la plate-forme technologique	Valeur
Pénétration du marché hospitalier	50%
Revenus technologiques annuels	4,3 milliards de dollars
Solutions logicielles du fournisseur de soins de santé	Plusieurs plates-formes intégrées

McKesson Corporation (MCK) - Modèle d'entreprise: relations clients

Partenariats contractuels à long terme

McKesson maintient plus de 180 contrats de distribution pharmaceutique à long terme avec les systèmes de soins de santé, les hôpitaux et les pharmacies. La durée moyenne du contrat est de 7,2 ans. La valeur totale du contrat en 2023 a atteint 68,4 milliards de dollars.

Type de contrat	Nombre de contrats	Valeur annuelle
Systèmes hospitaliers	87	24,6 milliards de dollars
Réseaux de pharmacie au détail	63	29,8 milliards de dollars
Fournisseurs de soins de santé spécialisés	30	14 milliards de dollars

Gestion de compte dédiée

McKesson emploie 672 gestionnaires de comptes dédiés au service des clients de santé de niveau d'entreprise. Le gestionnaire de compte moyen gère 102 millions de dollars de revenus des clients annuels.

Services de support technologique et de conseil

• Plateformes technologiques desservant plus de 60 000 établissements de santé
• 412 millions de dollars investis dans des solutions de soins de santé numériques en 2023
• Infrastructure de support technique 24/7

Solutions de soins de santé personnalisés

Catégorie de solution	Segments de clientèle	Revenus annuels
Distribution pharmaceutique	Hôpitaux, pharmacies	54,3 milliards de dollars
Approvisionnement médical-chirurgical	Cliniques, centres ambulatoires	12,7 milliards de dollars
Solutions en oncologie	Centres de traitement du cancer	3,9 milliards de dollars

Plateforme numérique et systèmes de support en ligne

Les plates-formes numériques de McKesson traitent 98,4 millions de transactions mensuellement. Le portail en ligne dessert 42 000 clients de soins de santé avec des capacités de gestion et de commande des stocks en temps réel.

• 99,7% de hausse de la plate-forme numérique
• 276 millions de dollars d'investissement annuel dans les infrastructures numériques
• Application mobile prenant en charge 18 500 emplacements de pharmacie

McKesson Corporation (MCK) - Modèle d'entreprise: canaux

Force de vente directe

McKesson utilise une force de vente dédiée de 8 500+ professionnels de la santé dans plusieurs segments à partir de 2024.

Canal de vente	Nombre de représentants	Focus principal
Distribution pharmaceutique	3,750	Pharmaceutique en gros
Ventes médicales chirurgicales	2,900	Équipement de prestataires de soins de santé
Solutions technologiques	1,850	Services informatiques de la santé

Plateformes numériques en ligne

McKesson exploite plusieurs plateformes numériques avec un taux d'engagement numérique du fournisseur de soins de santé à 92%.

• McKesson.com B2B Portail
• RELAYHEALTH DIGITAL MARKETPLACE
• Plateforme de commande ONESTOP
• Applications d'approvisionnement mobile

Conférences de l'industrie des soins de santé

McKesson participe à 47 grandes conférences de soins de santé par an avec un engagement direct de plus de 12 500 professionnels de l'industrie.

Type de conférence	Participation annuelle	Public cible
Technologie de santé	18	It dirigeants
Pharmaceutique	15	Gestionnaires de pharmacie
Approvisionnement médical	14	Achat d'hôpital

Services d'intégration technologique

McKesson fournit des services d'intégration technologique à 85% des hôpitaux américains et plus de 60 000 pharmacies.

• Intégration des dossiers de santé électronique
• Systèmes de gestion de la chaîne d'approvisionnement
• Logiciel de gestion de la pharmacie
• Solutions de cycle de revenus

Réseaux de partenariat stratégiques

McKesson maintient des partenariats stratégiques avec plus de 300 fabricants de soins de santé et plus de 200 fournisseurs de technologies.

Catégorie de partenariat	Nombre de partenaires	Valeur de collaboration annuelle
Fabricants pharmaceutiques	180	47,3 milliards de dollars
Sociétés de dispositifs médicaux	75	22,6 milliards de dollars
Vendeurs technologiques	45	8,9 milliards de dollars

McKesson Corporation (MCK) - Modèle d'entreprise: segments de clientèle

Pharmacies et pharmacies au détail

McKesson dessert environ 40 000 pharmacies de vente au détail aux États-Unis. Les clients clés comprennent:

Chaîne de pharmacie	Nombre de magasins	Part de marché
Pharmacie CVS	9 900 magasins	25.3%
Walgreens	9 021 magasins	22.7%
Pharmacie Walmart	5 100 magasins	12.8%

Hôpitaux et systèmes de soins de santé

McKesson fournit plus de 3 500 hôpitaux et 15 000 établissements de santé non aigus à l'échelle nationale.

• Les meilleurs réseaux hospitaliers servis comprennent HCA Healthcare, Mayo Clinic et Kaiser Permanente
• Environ 80% des hôpitaux américains utilisent des produits médicaux-chirurgicaux McKesson

Pratiques de médecin

McKesson soutient plus de 125 000 pratiques de médecins sur plusieurs spécialités.

Spécialité	Nombre de pratiques
Soins primaires	47,500
Oncologie	22,000
Pratiques chirurgicales	18,500

Fabricants pharmaceutiques

McKesson distribue des produits pour plus de 500 fabricants pharmaceutiques.

• Les meilleurs fabricants comprennent Pfizer, Johnson & Johnson et Merck
• Gère environ 270 milliards de dollars de distribution pharmaceutique par an

Organisations de soins de santé gouvernementaux

McKesson sert plusieurs segments de soins de santé gouvernementaux:

Segment du gouvernement	Valeur du contrat annuel
Système de soins de santé VA	3,2 milliards de dollars
Ministère de la Défense	1,8 milliard de dollars
Programmes d'État Medicaid	4,5 milliards de dollars

McKesson Corporation (MCK) - Modèle d'entreprise: Structure des coûts

Achat d'inventaire pharmaceutique

Les coûts d'approvisionnement des stocks pharmaceutiques de McKesson en 2023 ont totalisé 238,4 milliards de dollars. Les frais d'acquisition d'inventaire de la société se décomposent comme suit:

Catégorie d'approvisionnement	Coût annuel
Pharmaceutiques de marque	142,6 milliards de dollars
Médicaments génériques	65,3 milliards de dollars
Fournitures médicales	30,5 milliards de dollars

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques pour McKesson en 2023 étaient de 1,2 milliard de dollars, avec la ventilation suivante:

• Infrastructure de cloud computing: 412 millions de dollars
• Systèmes de cybersécurité: 287 millions de dollars
• Maintenance des logiciels d'entreprise: 341 millions de dollars
• Mises à niveau matériel: 160 millions de dollars

Dépenses de distribution et de logistique

Les coûts de distribution et de logistique de McKesson en 2023 s'élevaient à 7,6 milliards de dollars, notamment:

Catégorie de dépenses logistiques	Coût annuel
Transport	3,2 milliards de dollars
Opérations de l'entrepôt	2,1 milliards de dollars
Entretien de la flotte	1,3 milliard de dollars
Emballage et manutention	1 milliard de dollars

Compensation et formation des employés

Les dépenses totales liées aux employés de McKesson en 2023 étaient de 4,8 milliards de dollars:

• Salaires de base: 3,1 milliards de dollars
• Avantages et soins de santé: 812 millions de dollars
• Bonus de performance: 456 millions de dollars
• Formation et développement: 432 millions de dollars

Investissements de recherche et développement

Les investissements en R&D pour McKesson en 2023 ont totalisé 345 millions de dollars, axés sur:

• Solutions de technologie de santé: 187 millions de dollars
• Technologie de distribution pharmaceutique: 98 millions de dollars
• Plateformes d'analyse de données: 60 millions de dollars

McKesson Corporation (MCK) - Modèle d'entreprise: Strots de revenus

Frais de distribution pharmaceutique

Au cours de l'exercice 2023, les revenus de distribution pharmaceutique de McKesson étaient de 276,8 milliards de dollars. Les frais de distribution représentaient environ 3 à 5% du total des revenus de distribution pharmaceutique.

Source de revenus	Montant annuel	Pourcentage du total des revenus
Distribution pharmaceutique	276,8 milliards de dollars	75.2%
Frais de service de distribution	8,3 milliards de dollars	3-5%

Contrats de services de technologie des soins de santé

Les services de technologie de santé de McKesson ont généré 2,4 milliards de dollars de revenus pour l'exercice 2023.

• Solutions de dossier de santé électronique (DSE)
• Logiciel de gestion de la pratique
• Services de gestion du cycle des revenus

Gestion de la chaîne d'approvisionnement médicale

Les services de gestion de la chaîne d'approvisionnement médicale ont contribué 5,6 milliards de dollars au total des revenus de McKesson en 2023.

Service de chaîne d'approvisionnement	Revenus annuels
Gestion des stocks	1,9 milliard de dollars
Services logistiques	2,1 milliards de dollars
Solutions d'approvisionnement	1,6 milliard de dollars

Licence d'analyse des logiciels et des données

Les licences d'analyse des logiciels et de données de McKesson ont généré 1,2 milliard de dollars au cours de l'exercice 2023.

• Systèmes de gestion de la pharmacie
• Plateformes d'analyse des soins de santé
• Outils d'aide à la décision clinique

Services de conseil et d'intégration

Les services de conseil et d'intégration ont représenté 750 millions de dollars de revenus pour 2023.

Service de conseil	Revenus annuels
Conseil des technologies de la santé	350 millions de dollars
Intégration du système	400 millions de dollars

McKesson Corporation (MCK) - Canvas Business Model: Value Propositions

You're looking at the core value McKesson Corporation (MCK) delivers across its segments as of late 2025. This isn't just about moving boxes; it's about integrated healthcare services underpinning massive scale.

Best-in-class distribution efficiency and supply chain reliability.

The sheer scale of the U.S. Pharmaceutical segment demonstrates this reliability. For the fiscal year ended March 31, 2025, McKesson Corporation reported total revenues of $359.05 billion, up 16.2% from the prior year. The U.S. Pharmaceutical unit was the engine, bringing in $327.72 billion, marking a 17.6% increase over fiscal 2024. This growth was fueled by increased prescription volumes from major retail national account customers and specialty product distribution. The company is focused on maintaining this operational strength, updating its long-term growth target for the U.S. Pharmaceutical Segment Operating Profit to a range of 6% to 8%. That's a commitment to efficiency baked into the long-term plan.

Here's a quick look at the financial scale supporting this distribution value proposition for the full fiscal year 2025:

Metric	Amount/Rate (FY2025)	Comparison/Context
Consolidated Revenues	$359.1 billion	Increase of 16% over FY2024
U.S. Pharmaceutical Segment Revenue	$327.72 billion	Increase of 17.6% year-over-year
Q4 FY2025 U.S. Pharmaceutical Revenue Growth	20.9%	Driven by specialty product distribution
Long-Term U.S. Pharmaceutical Operating Profit Growth Target	6% to 8%	Updated long-term target

Improving medication access and affordability for patients.

McKesson Corporation quantifies its impact on patient affordability through its biopharma services platform. In the year leading up to the fourth quarter of fiscal 2025, this platform achieved significant patient support. The efforts resulted in helping patients save over $10 billion on brand and specialty medications. Furthermore, the technology and services helped prevent 12 million prescriptions from being abandoned due to affordability issues, and facilitated patient access to medicine more than 100 million times. The Prescription Technology Solutions Segment saw its Adjusted Segment Operating Profit increase by 22% in the third quarter of fiscal 2025, directly driven by growth in these access and affordability solutions.

Integrated solutions for community-based oncology and specialty practices.

The company is actively expanding its specialty footprint through strategic acquisitions. McKesson Corporation completed the acquisition of an 80% interest in Prism Vision Holdings LLC for $850 million last month (prior to May 2025 earnings). Additionally, an agreement was signed to acquire a 70% ownership stake in Core Ventures for $2.49 billion, which is expected to close in June 2025. This focus on integrated oncology and specialty platforms is showing up in segment results; the U.S. Pharmaceutical Segment Adjusted Segment Operating Profit increased 14% in Q3 FY2025, driven by growth in specialty product distribution to providers and health systems. The company also supports community providers with differentiated offerings, including nine oncology-specific quality measures through its Practice Insights℠ tool.

Broad portfolio of over 245,000 medical and pharmaceutical products.

While the exact total portfolio size for late 2025 isn't explicitly cited, the breadth is evident in segment performance and private label offerings. The U.S. Pharmaceutical segment revenue growth of 17.6% in FY2025 is supported by the distribution of a vast array of products. As a concrete example of portfolio depth, the McKesson Brands private label offering includes over 5,000 products. The company is also actively managing its portfolio, announcing the intent to separate its Medical-Surgical Solutions unit to focus capital deployment on higher growth areas like Oncology and Biopharma Solutions.

Customized services and technology to improve provider operating efficiency.

Technology services are a key component of the value delivered to providers, helping them manage administrative burdens. McKesson Corporation's Practice Insights℠ performance analytics tool was named a Qualified Clinical Data Registry (QCDR) by the Centers for Medicare & Medicaid Services (CMS) for the ninth consecutive year in 2025. This designation allows providers using iKnowMed℠ to efficiently submit data directly for Merit-based Incentive Payment System (MIPS) quality measures, eliminating the need for a separate registry vendor. The Prescription Technology Solutions Segment saw revenues increase 14% in the third quarter of fiscal 2025, reflecting increased prescription volumes in its third-party logistics and technology services businesses. Point-of-care technologies are also key, enabling real-time data sharing for improved decision-making.

The Prescription Technology Solutions Segment delivered strong financial results in Q3 FY2025.

• Revenues: $1.4 billion, an increase of 14%
• Adjusted Segment Operating Profit: $235 million, an increase of 22%

Finance: draft 13-week cash view by Friday.

McKesson Corporation (MCK) - Canvas Business Model: Customer Relationships

You're looking at how McKesson Corporation (MCK) locks in its vast customer base, which is really about embedding itself so deeply into their operations that leaving becomes prohibitively complex. This isn't just about selling pills; it's about providing the essential infrastructure for healthcare delivery, especially through long-term, high-volume contracts.

Long-term, high-volume contracts with major national accounts.

The core relationship here is with major retail national account customers within the U.S. Pharmaceutical segment. This segment is the backbone, generating $327.72 Billion in revenue for fiscal year 2025, which accounted for 91.28% of the company's total revenue of $359.1 billion. Growth in this area, up 18% year-over-year for the segment in FY2025, was explicitly driven by higher volumes from these retail national account customers. Furthermore, the company is actively growing this base, evidenced by the onboarding of a new strategic partner within the U.S. Pharmaceutical segment during FY2025.

Here's a quick look at the scale of the key customer-facing segments in fiscal year 2025:

Segment	FY 2025 Revenue	Year-over-Year Growth (FY2024 to FY2025)
U.S. Pharmaceutical	$327.72 Billion	18%
Prescription Technology Solutions	$5.22 Billion	9.37%
International	$14.72 Billion	4.18%
Medical-Surgical Solutions	$11.39 Billion	0.65%

Dedicated account management and tailored service models.

For specialized customer groups, like oncology practices, McKesson Corporation deploys tailored models that go beyond simple distribution. This is seen in their focus on oncology and specialty platforms, where they are deploying capital to deepen relationships. For instance, the company completed the acquisition of an 80% interest in Prism Vision Holdings LLC for $850 million and agreed to buy a 70% stake in Core Ventures for $2.49 billion. These moves are strategic engagements designed to provide differentiated solutions directly to providers, ensuring retention by offering services that address complex care pathways.

Providing 24/7 technical support for practice management software.

The Prescription Technology Solutions segment is where this relationship is most evident in a software context. This segment generated $5.22 Billion in revenue in FY2025, with an Adjusted Segment Operating Profit of $235 million in the third quarter of that year. A key component is Practice Insights℠, an analytics tool powered by Ontada®, McKesson's technology business. This tool, which has been named a Qualified Clinical Data Registry (QCDR) by CMS for the ninth consecutive year, supports nine oncology-specific QCDR measures. This level of integration, allowing providers using iKnowMed℠ EHR to submit quality data directly to CMS, creates a sticky relationship by minimizing administrative burden for the customer.

Strategic engagement to ensure customer retention and growth.

The company signals its commitment to long-term customer value through its financial outlook. McKesson Corporation is reaffirming and updating its long-term Adjusted Earnings per Diluted Share growth target to 13% to 16%. This aggressive target is predicated on sustained operational momentum and disciplined execution across its differentiated assets, which directly translates to the value it promises to deliver to its customer base over the long haul. If onboarding takes 14+ days, churn risk rises, so speed in integrating new strategic partners is key.

Consulting and outsourcing services for pharmacies and providers.

The expansion into provider services acts as a significant relationship anchor. Beyond distribution, McKesson Corporation is actively building out its biopharma services platforms. The acquisition of Core Ventures, which provides administrative and advisory services to oncology practices at nearly 100 locations in Florida, is a prime example of an outsourcing/consulting play. Also, the Practice Insights tool helps providers manage quality reporting, which is essentially a consulting service delivered via technology, supporting measures like patient-reported outcomes for addressing health-related social needs.

Finance: draft 13-week cash view by Friday.

McKesson Corporation (MCK) - Canvas Business Model: Channels

You're looking at how McKesson Corporation gets its value proposition-the delivery of pharmaceuticals and healthcare products-into the hands of its customers. This is all about the physical and digital pathways they use, which are massive in scale.

Network of U.S. and Canadian pharmaceutical distribution centers.

McKesson Corporation supports a third of all medicine distribution across the U.S.. This physical backbone is extensive, designed for high-volume, regulated delivery.

• Network includes over 50 distribution centers across the U.S..
• The network moves a full range of pharmaceutical products-branded, generic, and specialty-to care settings nationwide.
• The International segment, which includes Canadian operations, generated $14.7 billion in revenue for fiscal year 2025.

Direct sales force to hospitals and institutional providers.

The results of this channel are clear in the segment performance. Growth in the distribution of specialty products to providers and health systems was a key driver for the U.S. Pharmaceutical segment's Adjusted Segment Operating Profit increase of 12% for the full fiscal year 2025. The U.S. Pharmaceutical segment, which includes sales to institutional providers, accounted for nearly 92% of the company's full-year revenue.

Prescription Technology Solutions (RxTS) digital platforms.

The Prescription Technology Solutions segment acts as a digital channel, connecting various stakeholders to improve medication access and affordability. For the third quarter of fiscal 2025, this segment generated $1.4 billion in revenue. The long-term Adjusted Segment Operating Profit growth target for RxTS is set between 10% to 13% annually.

This platform's reach is substantial, being integrated with:

• Most Electronic Health Records (EHRs).
• 50,000+ pharmacies.
• 950,000 providers.
• Supporting 650+ biopharma brands.

Medical-Surgical supply distribution to alternate care sites.

This channel involves distributing medical-surgical supplies and logistics services to places like clinics, surgical centres, and home health agencies. McKesson Corporation announced plans to separate this segment in May 2025. For fiscal year 2025, this Medical-Surgical Solutions business generated approximately $11.4 billion in revenue, representing about 3.2% of total company revenue. The business delivers over 245,000 branded medical-surgical products.

Specialty distribution channels for high-cost, complex drugs.

This is a high-growth focus area, often channeled through the company's oncology platform and specialty distribution network. Growth in the distribution of specialty products, including higher volumes in oncology, was a primary driver for the overall consolidated revenue increase of 16.2% in fiscal year 2025, reaching $359.05 billion. The newly defined Oncology & Multispecialty unit, which includes specialty drug distribution, has a long-term Adjusted Segment Operating Profit growth target of 13% to 16% annually, the fastest among the company's divisions.

Here's a quick math breakdown of the major revenue channels for the fiscal year ended March 31, 2025:

Channel/Segment	Fiscal Year 2025 Revenue (Approximate)	Percentage of Consolidated Revenue (FY2025)
U.S. Pharmaceutical (Core Distribution)	$327.7 billion	~91.3%
Medical-Surgical Solutions (Planned Spin-off)	$11.4 billion	~3.2%
International (Includes Canada)	$14.7 billion	~4.1%
Prescription Technology Solutions (RxTS)	Approx. $5.2 billion (Full Year estimate based on growth rates)	~1.4%

McKesson Corporation (MCK) - Canvas Business Model: Customer Segments

You're looking at McKesson Corporation's customer base as of late 2025, grounded in the financial structure reported for the fiscal year ended March 31, 2025, and the strategic segment realignment announced in September 2025.

The core of McKesson Corporation's business, the U.S. Pharmaceutical Segment, generated revenues of $327.72 B in fiscal year 2025, representing nearly 92% of the company's total consolidated revenue of $359.05 B for that year. This segment's growth was explicitly driven by volumes from key customer groups.

The customer base is segmented across several key areas, which are being formally grouped into new reportable segments effective in the second quarter of fiscal year 2026:

• Retail and community pharmacies in the U.S. and Canada. This group is a primary focus of the new North American Pharmaceutical segment. Growth in the U.S. Pharmaceutical Segment was driven by increased prescription volumes from retail national account customers.
• Hospitals and health systems (institutional healthcare providers). These providers are also served under the North American Pharmaceutical segment umbrella. Growth in adjusted segment operating profit was driven by distribution of specialty products to providers and health systems.
• Biopharma companies and drug manufacturers. These partners are connected through the Prescription Technology Solutions segment, which offers services across the product lifecycle.
• Community-based oncology and multispecialty physician practices. This group forms the basis of the new Oncology and Multispecialty segment. Growth was noted in the oncology platform and specialty product distribution.
• Government and extended care markets. The former Medical-Surgical Solutions segment served customers like nursing homes and home health care agencies, and the company also has agreements with government entities and agencies.

Customer concentration is a factor you need to watch. Sales to McKesson Corporation's single largest customer, CVS Health Corporation, accounted for approximately 24% of total consolidated revenues in fiscal 2025.

Here's a look at the revenue contribution from the segments that most directly map to these customer groups for the fiscal year ended March 31, 2025:

Customer-Relevant Segment (FY2025 Reporting)	Fiscal 2025 Revenue Amount	Percentage of Total Revenue (FY2025)
U.S. Pharmaceutical Segment	$327.72 B	91.28%
International Segment (Includes Canadian Distribution)	$14.72 B	4.1%
Medical-Surgical Solutions Segment	$11.39 B	3.17%
Prescription Technology Solutions	$5.22 B	1.45%

The growth drivers within the U.S. Pharmaceutical Segment for fiscal 2025 included:

• Increased prescription volumes from retail national account customers.
• Growth in the distribution of specialty products.
• Higher volumes in oncology.

For the Prescription Technology Solutions segment, revenue increased by 9%, driven by higher volumes in third-party logistics and technology services.

The International Segment, which includes Canadian operations, saw revenues of $14.72 B, an increase of 4%, largely due to higher pharmaceutical distribution volumes in Canada.

Finance: draft 13-week cash view by Friday.

McKesson Corporation (MCK) - Canvas Business Model: Cost Structure

The cost structure for McKesson Corporation is heavily weighted toward the direct costs associated with moving massive volumes of pharmaceuticals and medical supplies, complemented by significant ongoing investments in its technology backbone.

High cost of goods sold (COGS) due to the distribution model. The sheer scale of distribution means COGS is the dominant cost component. For the third quarter of fiscal 2025, consolidated revenues reached $95.3 billion. With a reported Gross Profit of $3.3 billion for that same quarter, the implied Cost of Goods Sold was approximately $92.0 billion. This high ratio of COGS to revenue is inherent to the wholesale distribution business.

Significant operating expenses, including $1.9 billion in Q3 2025. Operating expenses are substantial, reflecting the necessary infrastructure to support this distribution. In the third quarter of fiscal 2025, operating expenses were reported at $1.9 billion. This figure was driven by higher expenses supporting growth within the U.S. pharmaceutical segment. The company noted that the operating expense to gross profit ratio improved by over 250 basis points compared to the prior year, showing efficiency gains despite the absolute dollar increase.

For a clearer picture of the scale, here are some key cost-related financial figures from the fiscal year ended March 31, 2025:

Metric	Amount (FY Ended 3/31/2025)	Period
Consolidated Revenues	$359.1 billion	Full Year
Annual Operating Expenses	$354.629 billion	Annual 2025
Operating Expenses (Twelve Months Ending Sep 30, 2025)	$381.836 billion	TTM
Operating Expenses (Q3 2025)	$1.9 billion	Quarterly
Capital Expenditures	$859 million	Full Year

Logistics and distribution network maintenance costs. Maintaining a reliable, expansive network is a non-negotiable cost. McKesson Corporation announced in October 2025 the expansion of its healthcare logistics network, deploying new automated distribution centers. These facilities integrate AI and robotics for real-time inventory tracking and predictive demand planning, which represents a significant capital and operational outlay to ensure supply reliability for hospitals and clinics across the U.S.

Technology investment spend to modernize the enterprise. The company deploys a substantial $1.5 billion annual Research and Development (R&D) budget to develop advanced solutions. This investment is a cornerstone of the growth strategy, focused on increasing operational efficiency and supporting value-based care models. Key technology costs support platforms like HealthOS, which integrates real-time data from over 80% of U.S. pharmacies.

Interest expense, anticipated at $255 million to $265 million for FY2025. The cost of financing operations and acquisitions factors into the structure. The anticipated interest expense for fiscal year 2025 is projected to fall within the range of $255 million to $265 million. This figure is tracked separately as Adjusted Interest Expense in non-GAAP reporting, which excludes transaction-related adjustments like those from cross-currency swaps.

Key components driving the cost base include:

• High cost of product acquisition (COGS).
• Operating expenses supporting U.S. Pharmaceutical segment growth.
• Investments to support future growth in technology services.
• Capital deployment for logistics automation and AI integration.
• Corporate expenses, which were $134 million in Q3 2025.

Finance: draft the Q1 2026 cash flow projection incorporating the FY2025 interest expense run-rate by next Tuesday.

McKesson Corporation (MCK) - Canvas Business Model: Revenue Streams

You're looking at the core engine of McKesson Corporation's revenue generation as of late 2025. Honestly, it's a story dominated by volume and scale in the U.S. pharmaceutical space, but with clear, high-growth pockets you need to watch.

The overall picture for fiscal year 2025 shows consolidated revenues hitting approximately $359.05 B, a significant jump of 16.22% from the prior year, showing the sheer scale of their distribution network.

Here is the breakdown of the primary revenue streams based on the fiscal year 2025 results:

Revenue Stream Segment	FY2025 Revenue Amount	Percentage of Total Revenue (Approximate)
U.S. Pharmaceutical distribution sales	$327.72 B	91.28%
International pharmaceutical distribution revenue	$14.72 B	4.1%
Medical-Surgical product sales	$11.39 B	3.17%
Prescription Technology Solutions fees	$5.22 B	1.45%

The U.S. Pharmaceutical distribution segment remains the backbone, accounting for over 91% of the total. That $327.72 B figure represents a substantial 17.6% increase year-over-year, driven by increased prescription volumes from retail national customers.

Now, let's look closer at the growth drivers within these streams, especially where McKesson Corporation is focusing capital deployment. You see the clear emphasis on specialty care.

• Specialty drug distribution and related services: This is a high-growth area, with revenue growth in the U.S. Pharmaceutical segment specifically driven by higher volumes in specialty products, including oncology treatments.
• Prescription Technology Solutions (RxTS) fees: This segment generated $5.22 B in FY2025, showing a healthy growth rate of about 9.37% from the previous year.
• International distribution: Revenue reached $14.72 B, which was up about 4.18% from FY2024, despite currency headwinds.

The Medical-Surgical Solutions segment contributed $11.39 B to the top line. To be defintely clear, McKesson Corporation has signaled plans to spin off this Medical-Surgical Solutions unit, which accounted for about 3.2% of revenue in fiscal 2025, to concentrate capital on the core pharmaceutical and biopharma solutions businesses.

The revenue from Prescription Technology Solutions, at $5.22 B, is generated through fees associated with their technology offerings supporting pharmacies and providers. This stream is smaller but growing at a faster clip than the Medical-Surgical segment, which saw only a modest 0.65% revenue increase.

Finance: draft 13-week cash view by Friday.