Walgreens Boots Alliance, Inc.
walgreensbootsalliance.comWhat Do They Do?
Sells prescription drugs, pharmacy services, and health and beauty products to consumers and patients through retail pharmacies, specialty and mail-order services.
10-K for FY2024, filed Oct 15, 2024The Company’s U.S. Retail Pharmacy segment includes the Walgreens business which is comprised of the operations of retail drugstores…View ↗
Sales for the segment are principally derived from the sale of prescription drugs and a wide assortment of retail products, including…View ↗
The Company also provides specialty pharmacy and mail services and offers certain other health and wellness services throughout the U.S.…View ↗
How Do They Make Money?
Customers and third-party payors pay for merchandise and prescriptions when sold or dispensed, and for pharmacy services when provided. Wholesale customers pay when goods ship; healthcare payors also pay monthly under care contracts or based on savings.
10-K for FY2024, filed Oct 15, 2024The Company recognizes revenue, net of taxes and expected returns, at the time it sells merchandise, provides services or dispenses…View ↗
Wholesale revenue is recognized, net of taxes and expected returns, upon shipment of goods, which is generally also the day of delivery.View ↗
The Company provides healthcare services under fee-for-service and value-based arrangements. Fee-for-service revenues are recognized at the…View ↗
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10-K for FY2024, filed Oct 15, 2024
FY2024 revenue by reportable segment ↗
$147.7B
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10-K for FY2024, filed Oct 16, 2024
$147.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
U.S. Retail Pharmacy
Sold outright
10-K for FY2024, filed Oct 15, 2024 |
78%
FY2021: 85%
|
U.S. Retail Pharmacy, FY2024
$115.8B Sources
|
Sold outright |
|
International
Sold outright
10-K for FY2024, filed Oct 15, 2024 |
16%
FY2021: 15%
|
International, FY2024
$23.6B Sources
|
Sold outright |
|
U.S. Healthcare
|
5.7%
FY2021: 0.0%
|
U.S. Healthcare, FY2024
$8.3B Sources
|
Who Are Their Customers?
Retail shoppers use Walgreens, Boots and other store and digital channels; the company also sells to wholesale customers and provides care to payors’ eligible members, cash-pay patients, health systems and provider groups.
10-K for FY2024, filed Oct 15, 2024The Company provides customers with convenient, omni-channel access through its portfolio of retail and business brands, which includes…View ↗
The segment provides customers with convenient, omni-channel access to consumer goods and services, including own branded general…View ↗
The Company sells to numerous retail and wholesale customers. The Company also provides healthcare services to healthcare payors’ eligible…View ↗
Do Revenues Turn Into Profits?
No. It lost $8.6B in FY2024.
10-K for FY2024, filed Oct 16, 2024
−$14.1BView ↗
10-K for FY2024, filed Oct 16, 2024
−$8.6BView ↗
10-K for FY2024, filed Oct 16, 2024
−$363MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2025, filed Jun 26, 2025
−$175MView ↗
- ▼ Now a loss
- vs $344M in Q3 FY2024
10-Q for Q3 FY2025, filed Jun 26, 2025
Open tableView ↗
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Aug 28, 2025
Sycamore completed its acquisition of Walgreens Boots Alliance
Walgreens, Boots, Shields Health Solutions, CareCentrix and VillageMD will operate as separate companies, and WBA’s common stock ceased trading.
Sources
8-K, filed Aug 28, 2025
New York – Aug. 28, 2025—Sycamore Partners (“Sycamore”) announced today that it has completed its acquisition of Walgreens Boots Alliance…View ↗
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Jun 26, 2025
Fiscal 2025 guidance was withdrawn amid the pending acquisition
Sources
8-K, filed Jun 26, 2025
Given the pending transaction, pursuant to which WBA will be acquired by entities affiliated with Sycamore Partners, the company previously…View ↗
Growing. Revenue grew 21% in 4 years, from $122B in FY2020 to $147.7B in FY2024, about 5% a year.
Healthcare strategy becomes an operating business
The earlier report described plans to build local clinical care using the pharmacy network and investments in primary, post-acute and home care. The latest describes a U.S. Healthcare business with clinical programs and integrated pharmacy and medical care.
10-K for FY2021, filed Oct 14, 2021 10-K for FY2024, filed Oct 15, 2024In October 2021, the Company announced the launch of its new healthcare strategy. The Company plans to become a leading provider of local…View ↗
The Company’s U.S. Healthcare segment is a healthcare business that is powered by a nationally scaled, locally delivered healthcare…View ↗
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