Henry Schein, Inc.

HSIC · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994
Valuation
Market cap	$8,962	$8,780	$9,838	$10,826	$10,751	$9,272	$9,252	$10,889	$9,691	$12,211	$21,937	$8,998	$7,700	$5,519	$4,554	$4,338	$3,666	$2,563	$4,265	$3,379	$2,978	$2,383	$2,319	$1,544	$2,461	$2,269	$3,270	$10,993	$8,598	$8,445	$6,694	$9,725
Enterprise value	$13,147	$12,166	$13,042	$12,855	$12,488	$10,489	$10,777	$13,352	$11,195	$13,375	$22,677	$9,643	$8,000	$5,932	$4,850	$4,630	$3,463	$2,612	$4,509	$3,603	$3,180	$2,744	$2,427	$1,569	$2,536	$2,496	$3,616	$11,180	$8,737	$8,453	$6,734	$9,783
P/E (TTM) at period end	22.52×	22.51×	23.65×	20.12×	17.04×	22.95×	13.32×	20.32×	23.85×	24.10×	45.79×	19.31×	17.84×	14.22×	12.39×	13.32×	11.78×	10.71×	18.15×	18.49×	21.31×	18.59×	16.86×	13.08×	28.17×	39.99×	65.02×	674.43×	–	437.54×	–	–
P/S (TTM) at period end	0.68×	0.69×	0.80×	0.86×	0.87×	0.92×	0.93×	0.82×	0.78×	1.06×	2.06×	0.87×	0.81×	0.62×	0.53×	0.58×	0.56×	0.40×	0.72×	0.66×	0.64×	0.59×	0.69×	0.55×	0.96×	0.95×	1.43×	5.72×	5.66×	10.17×	10.86×	19.98×
P/B at period end	2.76×	2.59×	2.69×	3.14×	3.14×	2.77×	3.09×	3.68×	3.45×	4.37×	7.61×	3.20×	2.76×	2.11×	1.87×	1.80×	1.70×	1.45×	2.40×	2.30×	2.38×	2.15×	2.31×	1.79×	3.62×	3.92×	6.31×	23.74×	20.27×	21.14×	46.85×	245.57×
EV / EBITDA (TTM)	13.64×	13.25×	15.11×	13.40×	11.76×	14.55×	11.93×	17.94×	13.93×	14.21×	25.39×	11.12×	9.94×	7.97×	6.95×	7.44×	6.35×	5.25×	9.80×	9.76×	9.83×	10.01×	8.97×	6.96×	13.83×	15.47×	24.50×	96.22×	113.77×	224.81×	1346.84×	–
EV / Sales (TTM)	1.00×	0.96×	1.06×	1.02×	1.01×	1.04×	1.08×	1.01×	0.90×	1.16×	2.13×	0.93×	0.84×	0.66×	0.57×	0.62×	0.53×	0.41×	0.76×	0.70×	0.69×	0.68×	0.72×	0.56×	0.99×	1.05×	1.58×	5.82×	5.76×	10.18×	10.93×	20.10×
Returns
Return on equity	12.3%	11.5%	11.4%	15.6%	18.4%	12.1%	23.2%	18.1%	14.5%	18.1%	16.6%	16.6%	15.5%	14.8%	15.1%	13.5%	14.4%	13.5%	13.2%	12.4%	11.2%	11.6%	13.7%	13.7%	12.8%	9.8%	9.7%	3.5%	(0.2%)	4.8%	(7.1%)	(27.5%)
Return on invested capital	6.7%	6.9%	7.0%	10.4%	12.6%	9.5%	12.2%	8.9%	7.9%	13.9%	14.3%	14.4%	15.6%	14.1%	14.6%	13.1%	17.0%	15.4%	13.5%	11.3%	10.6%	9.6%	13.1%	13.4%	12.3%	9.7%	8.1%	6.6%	–	4.6%	(0.5%)	(8.5%)
Dividend yield	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	4.5%	0.0%	0.0%	–	0.0%	0.0%
Financial health
Current ratio	1.38×	1.42×	1.67×	1.79×	1.67×	1.66×	1.58×	1.30×	1.44×	1.44×	1.50×	1.64×	1.83×	1.84×	1.79×	1.86×	2.05×	1.75×	1.97×	2.03×	2.19×	2.06×	2.23×	2.43×	2.12×	2.16×	2.22×	2.34×	2.19×	2.53×	1.88×	1.93×
Debt / equity	0.95×	0.73×	0.60×	0.33×	0.25×	0.18×	0.22×	0.33×	0.59×	0.28×	0.17×	0.19×	0.16×	0.19×	0.16×	0.17×	0.12×	0.24×	0.26×	0.34×	0.42×	0.48×	0.26×	0.29×	0.38×	0.48×	0.70×	0.45×	0.35×	0.12×	0.30×	1.54×
Effective tax rate	23.6%	25.0%	22.1%	23.6%	23.8%	19.0%	23.4%	20.0%	49.1%	28.8%	29.3%	30.4%	28.7%	31.1%	31.7%	31.9%	28.2%	33.2%	34.0%	35.5%	36.6%	37.0%	37.4%	37.4%	37.0%	38.9%	41.4%	55.5%	106.1%	36.9%	(100.0%)	12.8%
Share count
Diluted shares outstanding	122	128	132	138	142	143	149	154	158	164	168	171	175	180	185	187	181	182	182	180	177	179	179	179	348	341	1,254	1,254	1,254	1,254	1,254	2,180

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994
Revenue and gross profit
Revenue	$13,602	$13,184	$12,673	$12,339	$12,647	$12,401	$10,119	$9,986	$13,202	$12,462	$11,572	$10,630	$10,371	$9,561	$8,940	$8,530	$7,527	$6,538	$6,395	$5,920	$5,153	$4,636	$4,060	$3,354	$2,825	$2,558	$2,382	$2,286	$1,922	$1,518	$830	$616	$487
Cost of revenue	($9,342)	($9,079)	($8,657)	($8,479)	($8,816)	($8,727)	($7,303)	($6,895)	($6,507)	($6,137)	($8,345)	($7,623)	($7,460)	($6,905)	($6,432)	($6,112)	($5,356)	($4,626)	($4,506)	($4,202)	–	($3,319)	–	($2,427)	($2,030)	($1,859)	($1,700)	($1,559)	($1,300)	($1,053)	($577)	($420)	($340)
Gross profit	$4,260	$4,105	$4,016	$3,860	$3,831	$3,674	$2,816	$3,091	$2,911	$2,747	$3,226	$3,007	$2,911	$2,656	$2,508	$2,418	$2,171	$1,912	$1,874	$1,718	–	$1,317	–	$927	$795	$699	$682	$727	$622	$465	$253	$197	$146
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($3,208)	($3,084)	($3,034)	($2,956)	($2,771)	($2,634)	($2,086)	($2,358)	($2,217)	($2,072)	($2,409)	($2,238)	($2,196)	($1,979)	($1,873)	($1,836)	($1,637)	($1,450)	($1,432)	($1,332)	($1,168)	($1,054)	($832)	($693)	($599)	($552)	($520)	($579)	($506)	($388)	($216)	($192)	($152)
Total operating expenses	($3,580)	($3,452)	($3,395)	($3,245)	($3,084)	($2,822)	($2,281)	($2,373)	($2,310)	($2,077)	($2,455)	($2,273)	($2,196)	($1,979)	($1,889)	($1,836)	($1,650)	($1,448)	($1,455)	($1,332)	–	($1,054)	–	($693)	($598)	($552)	($554)	($607)	($526)	($403)	($224)	($198)	($156)
Total costs and expenses	($12,922)	($12,531)	($12,052)	($11,724)	($11,900)	($11,549)	($9,584)	($9,268)	($12,601)	($11,792)	($10,800)	($9,896)	($9,656)	($8,884)	($8,321)	($7,948)	($7,006)	($6,074)	($5,976)	($5,534)	($4,849)	($4,373)	($3,837)	($3,120)	($2,628)	($2,410)	($2,254)	($2,166)	($1,826)	($1,456)	($800)	($617)	($496)
Operating income	$680	$653	$621	$615	$747	$852	$535	$718	$601	$670	$772	$734	$715	$677	$619	$582	$521	$464	$419	$386	$304	$263	$223	$234	$197	$148	$128	$119	$96	$62	$30	($1)	($10)
Earnings
EBITDA	$1,007	$964	$918	$863	$959	$1,062	$721	$903	$744	$804	$941	$893	$867	$805	$744	$698	$622	$546	$497	$460	$369	$323	$274	$271	$225	$183	$161	$148	$116	$77	$38	$5	($6)
Interest income	$33	$33	$24	$17	$8	$6	$10	$16	$15	$12	$13	$13	$14	$13	$13	$16	$14	$10	$16	$17	$16	$7	$6	$9	–	–	–	–	–	–	–	–	–
Interest expense	($159)	($150)	($131)	($87)	($35)	($27)	($41)	($51)	($76)	($51)	($32)	($26)	($24)	($28)	($31)	($30)	($34)	($23)	($35)	($25)	($28)	($26)	($18)	($10)	($6)	($9)	($54)	($49)	($107)	($87)	–	($2)	($2)
Pre-tax income	$554	$533	$513	$542	$721	$831	$500	$680	$537	$630	$756	$721	$709	$665	$604	$569	$502	$453	$395	$382	$296	$247	$199	$226	$188	$140	$93	$86	$37	$16	$31	($5)	($12)
Income tax expense	($132)	($126)	($128)	($120)	($170)	($198)	($95)	($160)	($107)	($309)	($218)	($211)	($216)	($191)	($188)	($180)	($160)	($128)	($131)	($130)	($105)	($90)	($74)	($84)	($71)	($52)	($36)	($36)	($20)	($18)	($11)	($5)	$2
Net income	$403	$398	$390	$416	$538	$631	$404	$695	$536	$406	$507	$479	$466	$432	$388	$368	$326	$311	$239	$235	$183	$140	$128	$138	$118	$87	$57	$50	$16	($1)	$19	($10)	($11)
Per share
Diluted EPS (GAAP)	$3.43	$3.27	$3.05	$3.16	$3.91	$4.45	$2.82	$4.65	$3.49	$2.57	$3.10	$2.85	$2.72	$2.46	$2.16	$1.98	$1.75	$1.72	$1.31	$1.29	$1.01	$0.86	$0.72	$0.77	$0.66	$0.25	$0.17	$0.0401	$0.013	($0.0008)	$0.0154	($0.0081)	($0.005)
Basic EPS (GAAP)	$3.46	$3.29	$3.07	$3.18	$3.95	$4.51	$2.83	$4.70	$3.51	$2.59	$3.14	$2.89	$2.77	$2.51	$2.22	$2.04	$1.81	$1.75	$1.34	$1.33	$1.04	$0.87	$0.74	$0.79	$0.67	$0.26	$0.17	$0.0401	$0.013	($0.0008)	$0.0154	($0.0081)	($0.005)
Basic shares outstanding	116	121	127	131	136	140	143	148	153	157	162	166	169	172	175	180	180	178	178	177	176	174	175	175	175	339	334	1,253	1,253	1,253	1,253	1,253	2,180
Margins
Gross margin	31.3%	31.1%	31.7%	31.3%	30.3%	29.6%	27.8%	31.0%	22.0%	22.0%	27.9%	28.3%	28.1%	27.8%	28.0%	28.3%	28.8%	29.2%	29.3%	29.0%	–	28.4%	–	27.6%	28.1%	27.3%	28.6%	31.8%	32.4%	30.6%	30.5%	31.9%	30.1%
Operating margin	5.0%	5.0%	4.9%	5.0%	5.9%	6.9%	5.3%	7.2%	4.5%	5.4%	6.7%	6.9%	6.9%	7.1%	6.9%	6.8%	6.9%	7.1%	6.6%	6.5%	5.9%	5.7%	5.5%	7.0%	7.0%	5.8%	5.4%	5.2%	5.0%	4.1%	3.6%	(0.2%)	(2.0%)
Net margin	3.0%	3.0%	3.1%	3.4%	4.3%	5.1%	4.0%	7.0%	4.1%	3.3%	4.4%	4.5%	4.5%	4.5%	4.3%	4.3%	4.3%	4.8%	3.7%	4.0%	3.5%	3.0%	3.2%	4.1%	4.2%	3.4%	2.4%	2.2%	0.8%	(0.1%)	2.3%	(1.7%)	(2.2%)

Analyst consensus

Buy34 analysts

Bearish · 3 · Hold · 14 · Bullish · 17

Earnings history

	EPS	Estimate
Q3 2024	$1.22	$1.16	Beat
Q4 2024	$1.19	$1.23	Miss
Q1 2025	$1.15	$1.11	Beat
Q2 2025	$1.10	$1.18	Miss
Q3 2025	$1.38	$1.27	Beat
Q4 2025	$1.34	$1.30	Beat
Q1 2026	$1.32	$1.20	Beat
Q2 2026	$1.27	$1.24	Beat

Peers

Company overview

IPO dateNov 3, 1995

CEOFrederick Lowery

Employees25,000

SectorHealthcare

IndustryMedical - Distribution

CountryUS

ExchangeNASDAQ Global Select

Websitewww.henryschein.com

Henry Schein, Inc. (HSIC) is a global leader in delivering a comprehensive suite of healthcare products and services. The company caters to a diverse clientele across the globe, including dental professionals and laboratories, physician practices, governmental entities, and various institutional and alternative healthcare facilities. Its operations are organized into two principal segments: Health Care Distribution, and Technology and Value-Added Services. The Health Care Distribution division supplies an extensive array of dental goods, encompassing consumables (such as infection control items, impression materials, composites, anesthetics, and artificial teeth), specialized tools and equipment (like handpieces, dental chairs, delivery units, X-ray machinery, and advanced digital restoration systems), and personal protective equipment. This segment also provides essential equipment repair services. Furthermore, it distributes a broad range of medical supplies, including pharmaceuticals (both branded and generic), vaccines, surgical instruments, diagnostic kits, infection prevention solutions, imaging products, equipment, and nutritional supplements. The Technology and Value-Added Services segment focuses on empowering practices with advanced software, technology, and supplementary solutions. This includes specialized practice management software systems tailored for both dental and medical professionals. Beyond software, it delivers crucial value-added practice support services, such as non-recourse financial assistance, electronic services, comprehensive technology and network infrastructure support, hardware services, ongoing professional development programs, and expert consulting. Established in 1932, Henry Schein, Inc. maintains its corporate headquarters in Melville, New York.

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