Henry Schein, Inc.HSIC
NasdaqGS•Healthcare•Medical Distribution
Henry Schein, Inc. provides health care products and services to office-based dental and medical practitioners worldwide. It operates through Global Distribution and Value-Added Services; Global Specialty Products; and Global Technology segments. The Global Distribution and Value-Added Services segment distributes infection-control products, handpieces, preventatives, impression materials, composites, anesthetics, teeth, gypsum, acrylics, articulators, abrasives, PPE products, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, dental chairs, delivery units and lights, digital dental laboratories, X-ray supplies and equipment, and high-tech and digital restoration equipment, as well as provides equipment repair services, financial services on a non-recourse basis, continuing education services for practitioners, consulting, and other services. It also markets and sells a portfolio of consumable merchandise under its own corporate brand. The Global Specialty Products segment engage in manufacturing, marketing, and sales of dental implant and biomaterial products; and endodontic, orthodontic and orthopedic products, and other health care-related products and services. The Global Technology segment is involved in the development and distribution of practice management software, e-services, and other products which are distributed to health care providers. The company serves dental practices, laboratories, physician practices, and ambulatory surgery centers, as well as government, institutional health care clinics, home health providers, and other alternate care clinics. Henry Schein, Inc. was founded in 1932 and is headquartered in Melville, New York.
Henry Schein, Inc. (HSIC) reported trailing twelve months revenue of $13.38B as of March 2026, a 5.6% increase year-over-year. Quarterly revenue reached $3.37B, reflecting continued top-line momentum.
Henry Schein, Inc. generated $395.00M in TTM net income, with quarterly EBITDA of $249.00M. The operating margin contracted from 6.4% to 5.4%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (5.4%) and net margin (3.2%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 3.5% a year ago, reflecting increased costs or interest expense.
HSIC trades at a P/E of 21.4x (in line with broad market averages) and a P/S of 0.6x. The price-to-book ratio of 2.6x reflects a moderate premium to book value.
The company reported negative free cash flow of $-136.00M, indicating cash consumption over the period. The balance sheet shows $11.30B in total assets with $2.33B in long-term debt against $3.27B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~5.8% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~11.3% on average, adequate but below the threshold typically associated with wide moats.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (6 of 7 quarters up), with ~7.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 8.3% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 1.2x on average — earnings are well-supported by cash generation.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares decreased 9.8% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation