MCK vs. THC: McKesson vs. Tenet Healthcare Stock Comparison

November 11, 2026

How do McKesson (MCK) and Tenet Healthcare (THC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

McKesson (MCK) and Tenet Healthcare (THC) both belong to the Health Care Providers & Services industry, though MCK is classified under Health Care Distributors while THC falls under Health Care Facilities.

Company profile comparison for McKesson (MCK) and Tenet Healthcare (THC)
Profile Item	MCK	THC
Name	McKesson Corporation	Tenet Healthcare Corp.
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Providers & Services	Health Care Providers & Services
GICS Sub-Industry	Health Care Distributors	Health Care Facilities
Market Capitalization	122.48 billion USD	22.55 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	November 10, 1994	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

MCK

THC

GSPC

McKesson (MCK) vs. Tenet Healthcare (THC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for McKesson (MCK) and Tenet Healthcare (THC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for McKesson (MCK) and Tenet Healthcare (THC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for McKesson (MCK) and Tenet Healthcare (THC)
Metric	MCK	THC
Total Return (1Y)	25.40%	43.40%
Total Return (3Y, Annualized)	32.67%	77.47%
Total Return (5Y, Annualized)	37.84%	29.92%

Risk Profile

Drawdown History

MCK

THC

GSPC

McKesson (MCK) vs. Tenet Healthcare (THC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for McKesson (MCK) and Tenet Healthcare (THC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for McKesson (MCK) and Tenet Healthcare (THC)
Metric	MCK	THC
Volatility (1Y, Annualized)	31.71%	43.80%
Beta (5Y)	0.26	1.17
Max Drawdown (5Y)	-27.17%	-58.88%
Avg. Volume (3M)	822.69K	768.24K

Risk-Adjusted Performance

Risk-Return Positioning

MCK and THC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for McKesson (MCK) and Tenet Healthcare (THC)
Metric	MCK	THC
Sharpe Ratio (1Y)	0.67	0.89
Sortino Ratio (1Y)	1.15	1.71

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Tenet Healthcare (THC) earns 41.70% on shareholders’ equity, ranked against its industry; McKesson (MCK) has no ROE this period.

MCK

Health Care Equipment & Services industry group

Max: 47.61%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%
MCK: --

THC

Health Care Equipment & Services industry group

41.70%

Max: 47.61%
THC: 41.70%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

McKesson (MCK) vs. Tenet Healthcare (THC): MCK does not report ROE, so it has no value marker; THC is benchmarked against the Health Care Equipment & Services industry group.

Net Margin (TTM)

Tenet Healthcare (THC) at 13.09% retains a top-quartile share of revenue as profit, ahead of McKesson (MCK) at 1.12%, which keeps about the industry-typical share.

MCK

Health Care Equipment & Services industry group

1.12%

Max: 29.35%
Q3: 9.33%
Median: 2.18%
MCK: 1.12%
Q1: -6.29%
Min: -28.46%

THC

Health Care Equipment & Services industry group

13.09%

Max: 29.35%
THC: 13.09%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Tenet Healthcare (THC) at 19.04% operates in the top operating margin quartile, ahead of McKesson (MCK) at 1.48%, which runs around its industry’s norm.

MCK

Health Care Equipment & Services industry group

1.48%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
MCK: 1.48%
Q1: -0.28%
Min: -16.29%

THC

Health Care Equipment & Services industry group

19.04%

Max: 35.43%
THC: 19.04%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for McKesson (MCK) and Tenet Healthcare (THC)
Metric	MCK	THC
ROE (TTM)	--	41.70%
ROA (TTM)	4.72%	8.68%
Net Margin (TTM)	1.12%	13.09%
Operating Margin (TTM)	1.48%	19.04%
Gross Margin (TTM)	3.65%	42.47%

Growth

Revenue Growth

McKesson (MCK) at 12.36% is around its peer norm for revenue growth, while Tenet Healthcare (THC) at 3.07% drops into the bottom quartile, signaling weaker demand or pricing momentum.

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their Revenue Growth across different time periods.

EPS Growth

McKesson (MCK) at 49.22% sits in the top EPS growth quartile, while Tenet Healthcare (THC) at -52.63% is in the bottom quartile, showing a clear gap in earnings momentum.

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for McKesson (MCK) and Tenet Healthcare (THC)
Metric	MCK	THC
Revenue Growth (YoY)	12.36%	3.07%
Revenue Growth (3Y CAGR)	13.39%	3.58%
EPS Growth (YoY)	49.22%	-52.63%
EPS Growth (3Y CAGR)	15.31%	59.88%

Financial Strength

Current Ratio (MRQ)

Tenet Healthcare (THC) at 1.59 keeps current ratio within its industry’s typical mid-range, while McKesson (MCK) at 0.90 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for MCK.

MCK

Health Care Equipment & Services industry group

0.90

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
MCK: 0.90
Min: 0.30

THC

Health Care Equipment & Services industry group

1.59

Max: 7.59
Q3: 4.00
Median: 1.98
THC: 1.59
Q1: 1.37
Min: 0.30

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Only one side’s leverage can be read here: Tenet Healthcare (THC) carries debt-to-equity ratio of 1.38 against its industry range, while McKesson (MCK) reports no figure this period.

MCK

Health Care Equipment & Services industry group

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00
MCK: --

THC

Health Care Equipment & Services industry group

1.38

Max: 1.88
THC: 1.38
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00

McKesson (MCK) vs. Tenet Healthcare (THC): MCK does not report debt-to-equity ratio, so it has no value marker; THC is benchmarked against the Health Care Equipment & Services industry group.

Financial Strength Metrics

Financial strength metrics for McKesson (MCK) and Tenet Healthcare (THC)
Metric	MCK	THC
Current Ratio (MRQ)	0.90	1.59
Debt / Equity (MRQ)	--	1.38
Net Debt / EBITDA	0.64	2.06

Dividends

Dividend Yield (TTM)

Tenet Healthcare (THC) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile McKesson (MCK) reports a yield of 0.32%, ranking against industry peers normally.

MCK

Health Care Equipment & Services industry group

0.32%

MCK: 0.32%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

THC

Health Care Equipment & Services industry group

0.00%

THC: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Tenet Healthcare (THC) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile McKesson (MCK) reports a payout of 8.77%, ranking against industry peers normally.

MCK

Health Care Equipment & Services industry group

8.77%

MCK: 8.77%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

THC

Health Care Equipment & Services industry group

0.00%

THC: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for McKesson (MCK) and Tenet Healthcare (THC)
Metric	MCK	THC
Dividend Yield (TTM)	0.32%	0.00%
Dividend Payout Ratio (TTM)	8.77%	0.00%

Valuation

P/E Ratio (TTM)

Tenet Healthcare (THC) at 8.26 sits in the cheaper P/E ratio quartile, while McKesson (MCK) at 27.36 is closer to its industry’s usual earnings multiple — a discount for THC, though growth and earnings durability still matter.

MCK

Health Care Equipment & Services industry group

27.36

Max: 80.41
Q3: 47.62
Median: 29.93
MCK: 27.36
Q1: 21.19
Min: 4.21

THC

Health Care Equipment & Services industry group

8.26

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
THC: 8.26
Min: 4.21

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

Both McKesson (MCK) at 0.29 and Tenet Healthcare (THC) at 1.02 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

MCK

Health Care Equipment & Services industry group

0.29

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
MCK: 0.29
Min: 0.03

THC

Health Care Equipment & Services industry group

1.02

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
THC: 1.02
Min: 0.03

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

McKesson (MCK) reports a negative P/B ratio of -30.85, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile Tenet Healthcare (THC) reports 4.14, ranking against industry peers normally.

MCK

Health Care Equipment & Services industry group

-30.85

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31
MCK: -30.85

THC

Health Care Equipment & Services industry group

4.14

Max: 11.68
Q3: 6.12
THC: 4.14
Median: 3.00
Q1: 1.73
Min: -1.31

McKesson (MCK) vs. Tenet Healthcare (THC): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for McKesson (MCK) and Tenet Healthcare (THC)
Metric	MCK	THC
P/E Ratio (TTM)	27.36	8.26
P/S Ratio (TTM)	0.29	1.02
P/B Ratio (MRQ)	-30.85	4.14
Free Cash Flow Yield (TTM)	6.04%	8.99%