McKesson's stock returns 144% in 3 years, driven by profit growth and share buybacks amid strategic shifts.

McKesson has delivered a 144% total stock return over the past three years, fueled by consistent profit growth and systematic share repurchases. The company generates $10 billion in annual operational cash flow, supporting dividends and buybacks while investing in higher-margin healthcare segments like oncology. However, margin pressures from GLP-1 weight-loss drugs pose challenges. Investors should watch upcoming earnings and margin trends as McKesson balances low-margin distribution with growth in higher-margin services.