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HSICHenry Schein

Health care · Medical Distribution · Nasdaq
HSIC quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 4.0%, free cash flow down to $573.0M

XBRL, from each 10-K
RevenueStatements ↓
$13.2B
from $12.7B in FY2024
FY2016FY2025
Net incomeStatements ↓
$398.0M
from $390.0M in FY2024
FY2016FY2025
Free cash flowStatements ↓
$573.0M
from $700.0M in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$3.27
from $3.05 in FY2024
FY2016FY2025
Operating marginStatements ↓
5.0%
from 4.9% in FY2024
FY2016FY2025
Total debtStatements ↓
$3.1B
from $2.5B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (41, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)3.65Sales (ttm)13.7BNet income (ttm)421.0MSales growth+4.0%EPS growth+7.2%Sales Q/Q+4.0%
Free cash flow559.0MGross margin31.6%Oper. margin5.2%Net margin3.1%FCF margin4.1%ROE13.3%
ROA3.7%R&D / sales-Dividend-Debt/Eq1.12Curr. ratio1.33Cash184.0M
Op. cash flow (ttm)687.0MEBITDA964.0MEBITDA margin7.3%Net debt3.3BQuick ratio0.77Interest cover4.35
ROIC7.5%Tax rate23.6%Stock pay / sales0.3%Shares out.110.5MShares Y/Y-4.7%Book / share28.58
Cash / share1.66Sales / share124.25Asset turnover1.19Inventory turns4.53Days sales out.46Sales 3Y CAGR+1.4%
Sales 5Y CAGR+5.4%EPS 3Y CAGR-5.8%EPS 5Y CAGR+3.0%Employees25,000Sales / employee549K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

HSIC against Health care peers

Ten years, side by side → · All 60 →
GrowthProfitBalanceCleanInsiders
HSICPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 60 companies, the better end on the right. Hover a dot for the company.

Sales growth
+4.0%42nd of 60 · median +7.1%
Net margin
3.1%46th of 60 · median 9.6%
Return on equity
13.3%27th of 54 · median 13.1%
Free cash flow margin
4.1%47th of 56 · median 15.5%
Debt / equity (less is better)
1.1240th of 49 · median 0.66
HSIC and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
HSIC Henry Schein$13.7B +4.0%31.6%3.1%13.3%4.1%1.12
VTRS Viatris$14.7B -3.0%35.3%-4.1%-4.4%14.3%0.97
LH Labcorp$14.6B +7.2%29.0%6.9%11.3%8.8%0.66
DVA DaVita$14.2B +6.5%-6.5%-9.1%-
VRTX Vertex Pharmaceuticals$13.0B +8.9%85.5%30.7%19.0%24.7%0.22
DGX Quest Diagnostics$11.8B +11.8%33.1%9.5%14.8%11.6%0.73
Where each dollar goes

From $12.4B of sales to $631.0M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $3.7BRevenue to Cost of revenue: $8.7BGross profit to Operating profit: $852.0MGross profit to Operating expenses: $2.8BOperating profit to Net profit: $631.0MOperating profit to Tax & other: $221.0M Revenue: $12.4B Revenue$12.4B +23% Y/Y Gross profit: $3.7B · 30% margin Gross profit$3.7B30% margin +30% Y/Y Cost of revenue: $8.7B · 70% of revenue Cost of revenue$8.7B70% of revenue Operating profit: $852.0M · 7% margin Operating profit$852.0M7% margin +59% Y/Y Operating expenses: $2.8B · 23% of revenue Operating expenses$2.8B23% of revenue Net profit: $631.0M · 5% margin Net profit$631.0M5% margin +56% Y/Y Tax & other: $221.0M · 2% of revenue Tax & other$221.0M2% of revenue

Swipe sideways for the whole flow →

From $12.6B of sales to $538.0M of profit

FY2022, from the 10-K income statement and revenue by segment
Global Distribution And Value Added Services to Revenue: $11.0BGlobal Specialty Products to Revenue: $1.3BGlobal Technology to Revenue: $549.0MRevenue to Gross profit: $3.8BRevenue to Cost of revenue: $8.8BGross profit to Operating profit: $747.0MGross profit to Operating expenses: $3.1BOperating profit to Net profit: $538.0MOperating profit to Tax & other: $209.0M Global Distribution And Value Added Services: $11.0B · 86% Global Distribution And…$11.0B86% Global Specialty Products: $1.3B · 10% Global Specialty Produc…$1.3B10% Global Technology: $549.0M · 4% Global Technology$549.0M4% Revenue: $12.6B Revenue$12.6B +2% Y/Y Gross profit: $3.8B · 30% margin Gross profit$3.8B30% margin +4% Y/Y Cost of revenue: $8.8B · 70% of revenue Cost of revenue$8.8B70% of revenue Operating profit: $747.0M · 6% margin Operating profit$747.0M6% margin −12% Y/Y Operating expenses: $3.1B · 24% of revenue Operating expenses$3.1B24% of revenue Net profit: $538.0M · 4% margin Net profit$538.0M4% margin −15% Y/Y Tax & other: $209.0M · 2% of revenue Tax & other$209.0M2% of revenue

Swipe sideways for the whole flow →

From $12.3B of sales to $416.0M of profit

FY2023, from the 10-K income statement and revenue by segment
Global Distribution And Value Added Services to Revenue: $10.6BGlobal Specialty Products to Revenue: $1.3BGlobal Technology to Revenue: $602.0MRevenue to Gross profit: $3.9BRevenue to Cost of revenue: $8.5BGross profit to Operating profit: $615.0MGross profit to Operating expenses: $3.2BOperating profit to Net profit: $416.0MOperating profit to Tax & other: $199.0M Global Distribution And Value Added Services: $10.6B · 85% Global Distribution And…$10.6B85% Global Specialty Products: $1.3B · 11% Global Specialty Produc…$1.3B11% Global Technology: $602.0M · 5% Global Technology$602.0M5% Revenue: $12.3B Revenue$12.3B −2% Y/Y Gross profit: $3.9B · 31% margin Gross profit$3.9B31% margin +1% Y/Y Cost of revenue: $8.5B · 69% of revenue Cost of revenue$8.5B69% of revenue Operating profit: $615.0M · 5% margin Operating profit$615.0M5% margin −18% Y/Y Operating expenses: $3.2B · 26% of revenue Operating expenses$3.2B26% of revenue Net profit: $416.0M · 3% margin Net profit$416.0M3% margin −23% Y/Y Tax & other: $199.0M · 2% of revenue Tax & other$199.0M2% of revenue

Swipe sideways for the whole flow →

From $12.7B of sales to $390.0M of profit

FY2024, from the 10-K income statement and revenue by segment
Global Distribution And Value Added Services to Revenue: $10.8BGlobal Specialty Products to Revenue: $1.4BGlobal Technology to Revenue: $630.0MRevenue to Gross profit: $4.0BRevenue to Cost of revenue: $8.7BGross profit to Operating profit: $621.0MGross profit to Operating expenses: $3.4BOperating profit to Net profit: $390.0MOperating profit to Tax & other: $231.0M Global Distribution And Value Added Services: $10.8B · 84% Global Distribution And…$10.8B84% Global Specialty Products: $1.4B · 11% Global Specialty Produc…$1.4B11% Global Technology: $630.0M · 5% Global Technology$630.0M5% Revenue: $12.7B Revenue$12.7B +3% Y/Y Gross profit: $4.0B · 32% margin Gross profit$4.0B32% margin +4% Y/Y Cost of revenue: $8.7B · 68% of revenue Cost of revenue$8.7B68% of revenue Operating profit: $621.0M · 5% margin Operating profit$621.0M5% margin +1% Y/Y Operating expenses: $3.4B · 27% of revenue Operating expenses$3.4B27% of revenue Net profit: $390.0M · 3% margin Net profit$390.0M3% margin −6% Y/Y Tax & other: $231.0M · 2% of revenue Tax & other$231.0M2% of revenue

Swipe sideways for the whole flow →

From $13.2B of sales to $398.0M of profit

FY2025, from the 10-K income statement and revenue by segment
Global Distribution And Value Added Services to Revenue: $11.1BGlobal Specialty Products to Revenue: $1.5BGlobal Technology to Revenue: $675.0MRevenue to Gross profit: $4.1BRevenue to Cost of revenue: $9.1BGross profit to Operating profit: $653.0MGross profit to Operating expenses: $3.5BOperating profit to Net profit: $398.0MOperating profit to Tax & other: $255.0M Global Distribution And Value Added Services: $11.1B · 83% Global Distribution And…$11.1B83% Global Specialty Products: $1.5B · 12% Global Specialty Produc…$1.5B12% Global Technology: $675.0M · 5% Global Technology$675.0M5% Revenue: $13.2B Revenue$13.2B +4% Y/Y Gross profit: $4.1B · 31% margin Gross profit$4.1B31% margin +2% Y/Y Cost of revenue: $9.1B · 69% of revenue Cost of revenue$9.1B69% of revenue Operating profit: $653.0M · 5% margin Operating profit$653.0M5% margin +5% Y/Y Operating expenses: $3.5B · 26% of revenue Operating expenses$3.5B26% of revenue Net profit: $398.0M · 3% margin Net profit$398.0M3% margin +2% Y/Y Tax & other: $255.0M · 2% of revenue Tax & other$255.0M2% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

2 of 4
  • !
    Net margin below the peer median3.1% vs 9.6%
  • ✓
    Gross margin up over 5 years27.8% → 31.1%
  • !
    Return on equity below 15%13.3%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 4.4% → 3.0%

Balance sheet

1 of 4
  • !
    Interest covered less than 5 timesOperating income is 4.4× interest expense
  • !
    Debt larger than equityDebt / equity 1.12 on the latest balance sheet (peer median 0.66)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.33
  • !
    Net debt over 3 years of free cash flow$3.3B net debt, 6.0 years
Debt / equity at each year end, FY2016 to FY2025: 0.28 → 0.96
What the debt is made of ↓

Cash and shareholders

3 of 3
  • ✓
    Free cash flow positive in every one of 10 years$573.0M last year
  • ✓
    Share count down over 5 years−15.1%
  • ✓
    Cash from operations above net income$712.0M vs $398.0M
Free cash flow, FY2016 to FY2025: 572.4M → 573.0M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$- of principal due

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 13.2B Net income 398.0M
FY2016 revenue 11.6B · Revenues, 0001000228-19-000015 FY2016 net income 506.8M · NetIncomeLoss, 0001000228-19-000015 11.6B FY2016 FY2017 revenue 12.5B · Revenues, 0001000228-19-000015 FY2017 net income 406.3M · NetIncomeLoss, 0001000228-20-000018 12.5B FY2017 FY2018 revenue 13.2B · Revenues, 0001000228-19-000015 FY2018 net income 535.9M · NetIncomeLoss, 0001000228-21-000019 13.2B FY2018 FY2019 revenue 10.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001000228-22-000016 FY2019 net income 694.7M · NetIncomeLoss, 0001000228-22-000016 10.0B FY2019 FY2020 revenue 10.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001000228-23-000011 FY2020 net income 404.0M · NetIncomeLoss, 0001000228-23-000011 10.1B FY2020 FY2021 revenue 12.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001000228-24-000011 FY2021 net income 631.0M · NetIncomeLoss, 0001000228-24-000011 12.4B FY2021 FY2022 revenue 12.6B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001000228-25-000014 FY2022 net income 538.0M · NetIncomeLoss, 0001000228-25-000014 12.6B FY2022 FY2023 revenue 12.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001000228-26-000013 FY2023 net income 416.0M · NetIncomeLoss, 0001000228-26-000013 12.3B FY2023 FY2024 revenue 12.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001000228-26-000013 FY2024 net income 390.0M · NetIncomeLoss, 0001000228-26-000013 12.7B FY2024 FY2025 revenue 13.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001000228-26-000013 FY2025 net income 398.0M · NetIncomeLoss, 0001000228-26-000013 13.2B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

HSIC's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue13.2B
FY2016: 11.6BFY2017: 12.5BFY2018: 13.2BFY2019: 10.0BFY2020: 10.1BFY2021: 12.4BFY2022: 12.6BFY2023: 12.3BFY2024: 12.7BFY2025: 13.2B FY2017FY2019FY2021FY2023FY2025
Net income398.0M
FY2016: 506.8MFY2017: 406.3MFY2018: 535.9MFY2019: 694.7MFY2020: 404.0MFY2021: 631.0MFY2022: 538.0MFY2023: 416.0MFY2024: 390.0MFY2025: 398.0M FY2017FY2019FY2021FY2023FY2025
Free cash flow573.0M
FY2016: 572.4MFY2017: 483.1MFY2018: 613.4MFY2019: 577.9MFY2020: 550.0MFY2021: 631.0MFY2022: 506.0MFY2023: 353.0MFY2024: 700.0MFY2025: 573.0M FY2017FY2019FY2021FY2023FY2025
EPS (diluted)3.27
FY2016: 3.10FY2017: 2.57FY2018: 3.49FY2019: 4.65FY2020: 2.82FY2021: 4.45FY2022: 3.91FY2023: 3.16FY2024: 3.05FY2025: 3.27 FY2017FY2019FY2021FY2023FY2025
Diluted shares121.7M
FY2016: 163.7MFY2017: 158.2MFY2018: 153.7MFY2019: 149.3MFY2020: 143.4MFY2021: 141.8MFY2022: 137.8MFY2023: 131.7MFY2024: 127.8MFY2025: 121.7M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 27, 2025
RevenueSharevs year before
Global Distribution And Value Added Services 11.1B84.5% +3.5%
Global Specialty Products 1.5B11.7% +6.8%
Global Technology 675.0M5.1% +7.1%

10-K 0001000228-26-000013, segment and revenue notes (XBRL).

Revenue by region

year to Dec 27, 2025
RevenueSharevs year before
United States 9.1B69.0% +3.1%
Other 4.1B31.0% +6.2%

10-K 0001000228-26-000013, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue11.6B12.5B13.2B10.0B10.1B12.4B12.6B12.3B12.7B13.2B
Cost of revenue8.3B6.1B6.5B6.9B7.3B8.7B8.8B8.5B8.7B9.1B
Gross profit3.2B2.7B2.9B3.1B2.8B3.7B3.8B3.9B4.0B4.1B
SG&A2.4B2.1B2.2B2.4B2.1B2.6B2.8B3.0B3.0B3.1B
Operating income771.6M669.8M600.6M718.3M535.0M852.0M747.0M615.0M621.0M653.0M
Interest expense31.9M51.1M76.0M50.8M41.0M27.0M35.0M87.0M131.0M150.0M
Pretax income755.8M629.8M536.8M680.3M500.0M831.0M721.0M542.0M513.0M533.0M
Income tax218.0M309.0M107.4M159.5M95.0M198.0M170.0M120.0M128.0M126.0M
Net income506.8M406.3M535.9M694.7M404.0M631.0M538.0M416.0M390.0M398.0M
EPS (diluted)3.102.573.494.652.824.453.913.163.053.27
Diluted shares163.7M158.2M153.7M149.3M143.4M141.8M137.8M131.7M127.8M121.7M
Depreciation & amortization169.8M133.9M143.6M184.9M186.0M210.0M212.0M248.0M297.0M311.0M
EBITDA941.4M803.6M744.2M903.2M721.0M1.1B959.0M863.0M918.0M964.0M
Gross margin27.9%22.0%22.0%31.0%27.8%29.6%30.3%31.3%31.7%31.1%
Operating margin6.7%5.4%4.5%7.2%5.3%6.9%5.9%5.0%4.9%5.0%
Net margin4.4%3.3%4.1%7.0%4.0%5.1%4.3%3.4%3.1%3.0%
Revenue growth-+7.7%+5.9%-24.4%+1.3%+22.6%+2.0%-2.4%+2.7%+4.0%
EPS growth--17.1%+35.8%+33.2%-39.4%+57.8%-12.1%-19.2%-3.5%+7.2%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash62.4M158.0M56.9M106.1M421.0M118.0M117.0M171.0M122.0M156.0M
Receivables1.3B1.5B1.2B1.2B1.4B1.5B1.4B1.9B1.5B1.7B
Inventory1.7B1.9B1.4B1.4B1.5B1.9B2.0B1.8B1.8B2.0B
Current assets3.3B4.1B4.2B3.2B3.8B3.8B4.0B4.5B4.0B4.5B
Property & equipment333.9M375.0M314.2M329.6M342.0M366.5M----
Goodwill2.0B1.6B2.1B2.5B2.5B2.9B2.9B3.9B3.9B4.2B
Total assets6.8B7.9B8.5B7.2B7.8B8.5B8.6B10.6B10.2B11.2B
Accounts payable1.0B1.2B785.8M880.3M1.0B1.1B1.0B1.0B962.0M1.2B
Current liabilities2.3B2.8B3.2B2.0B2.3B2.3B2.2B2.7B2.8B3.2B
Total debt781.4M924.4M1.9B756.7M699.0M873.0M1.1B2.4B2.5B3.1B
Total liabilities3.4B4.2B4.6B3.2B3.5B3.8B3.9B5.4B5.4B6.4B
Shareholders' equity2.8B2.8B3.0B3.0B3.3B3.4B3.4B3.7B3.4B3.2B
Retained earnings3.0B2.9B3.2B3.1B3.5B3.6B3.7B3.9B3.8B3.3B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow642.6M545.5M684.7M654.1M599.0M710.0M602.0M500.0M848.0M712.0M
Capital spending70.2M62.4M71.3M76.2M49.0M79.0M96.0M147.0M148.0M139.0M
Free cash flow572.4M483.1M613.4M577.9M550.0M631.0M506.0M353.0M700.0M573.0M
Stock-based pay (added back)58.2M36.8M32.6M44.9M9.0M78.0M54.0M39.0M39.0M39.0M
Buybacks550.0M450.0M200.0M525.0M74.0M401.0M485.0M250.0M385.0M850.0M
Debt raised260.8M200.4M115.0M741K501.0M305.0M270.0M1.4B120.0M489.0M
Debt repaid15.4M59.3M24.7M260.9M611.0M122.0M59.0M468.0M318.0M44.0M
Investing cash flow-316.4M-342.3M-193.0M-424.4M-115.0M-677.0M-276.0M-1.1B-430.0M-400.0M
Financing cash flow-327.3M-112.6M-603.8M-216.0M-187.0M-333.0M-315.0M701.0M-510.0M-188.0M

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)58.2M36.8M32.6M44.9M9.0M78.0M54.0M39.0M39.0M39.0M
Stock-based pay / revenue0.5%0.3%0.2%0.4%0.1%0.6%0.4%0.3%0.3%0.3%
Operating lease cost---88.2M87.0M89.0M132.0M99.0M107.0M94.0M
Operating lease cash paid---79.7M77.0M85.0M87.0M92.0M94.0M99.0M
Finance lease principal paid---1.4M2.1M3.0M3.0M5.0M4.0M3.0M
Right-of-use assets--0231.7M288.8M325.0M284.0M325.0M293.0M301.0M
Operating lease liabilities--0241.6M303.4M344.0M348.0M390.0M334.0M329.0M
Finance lease liabilities--3.9M5.4M6.0M7.0M10.0M8.0M6.0M7.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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