HSIC

MKT CAP:$9B

Henry Schein, Inc.

Market Cap

$9B

Healthcare·Medical - Distribution·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$78.84+$2.02 (+2.63%)

Apr 21, 2026

Company Details

Henry Schein, Inc. provides health care products and services to dental practitioners and laboratories, physician practices, government, institutional health care clinics, and other alternate care clinics worldwide. It operates through two ...

CEO

Frederick Lowery

IPO Date

Nov 3, 1995

Website

www.henryschein.com

Key Metrics TTM

Revenue

$12.9B

+4.6% YoY

Net Income

$397M

EPS (Diluted)

$3.15

Free Cash Flow

$850M

Revenue / Share

$109.17

Gross Margin

29.6%

Operating Margin

5.6%

Net Margin

3.1%

FCF Margin

6.6%

P/S

0.7x

P/E

22.4x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Feb 24, 2026

$13.2BEPS $3.27

Q4 2025

Feb 24, 2026

$3.4BEPS $0.85

Q3 2024

Nov 5, 2024

$3.2B+0.4%EPS $0.78

Q2 2024

Aug 6, 2024

$3.1B+1.2%EPS $0.80

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$1.7B	$454M	$9M
Q3 20	$2.8B	$754M	$195M
Q1 21	$2.9B	$891M	$233M
Q2 21	$3.0B	$890M	$211M
Q4 21	$3.3B	$980M	$203M
Q1 22	$3.2B	$926M	$244M
Q2 22	$3.0B	$900M	$220M
Q3 22	$3.1B	$869M	$221M
Q2 23	$3.1B	$926M	$219M
Q3 23	$3.2B	$936M	$211M
Q4 23	$3.0B	$867M	$60M
Q1 24	$3.2B	$951M	$160M
Q2 24	$3.1B	$955M	$174M
Q3 24	$3.2B	$929M	$205M
Q4 25	$3.4B	$994M	$186M

Valuation

Quarter	P/S	P/E
Q2 20	—	—
Q3 20	—	—
Q1 21	—	—
Q2 21	0.9x	19.6x
Q4 21	0.7x	14.6x
Q1 22	0.7x	13.7x
Q2 22	0.7x	13.8x
Q3 22	0.7x	13.9x
Q2 23	0.7x	14.1x
Q3 23	0.7x	15.1x
Q4 23	0.7x	20.0x
Q1 24	0.7x	22.9x
Q2 24	0.7x	25.3x
Q3 24	0.7x	28.3x
Q4 25	0.7x	22.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	-$91M	-$98M
Q3 20	$261M	$254M
Q1 21	$63M	$49M
Q2 21	$159M	$141M
Q4 21	$277M	$247M
Q1 22	$93M	$74M
Q2 22	$157M	$133M
Q3 22	$98M	$74M
Q2 23	$274M	$237M
Q3 23	$231M	$191M
Q4 23	-$32M	-$71M
Q1 24	$197M	$147M
Q2 24	$296M	$248M
Q3 24	$151M	$117M
Q4 25	$381M	$338M

Capital Expenditures

Quarter	CapEx
Q2 20	$8M
Q3 20	$7M
Q1 21	$14M
Q2 21	$18M
Q4 21	$30M
Q1 22	$19M
Q2 22	$24M
Q3 22	$24M
Q2 23	$37M
Q3 23	$40M
Q4 23	$39M
Q1 24	$50M
Q2 24	$48M
Q3 24	$34M
Q4 25	$43M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+97.7%	+86.6%
Q1 22	+11.9%	+10.9%
Q2 22	+3.6%	+4.4%
Q3 22	+3.4%	+3.3%
Q2 23	-6.9%	-7.9%
Q3 23	-0.5%	+0.5%
Q4 23	-0.4%	+5.2%
Q1 24	+3.4%	+5.8%
Q2 24	+1.2%	+2.8%
Q3 24	+0.4%	+0.6%
Q4 25	+13.9%	+9.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$5M	0.3%
Q3 20	$6M	0.2%
Q1 21	$13M	0.4%
Q2 21	$17M	0.6%
Q4 21	$20M	0.6%
Q1 22	$12M	0.4%
Q2 22	$15M	0.5%
Q3 22	$17M	0.6%
Q2 23	$14M	0.5%
Q3 23	$14M	0.4%
Q4 23	$1M	0.0%
Q1 24	$8M	0.3%
Q2 24	$12M	0.4%
Q3 24	$10M	0.3%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q2 20	$446M
Q3 20	$560M
Q1 21	$658M
Q2 21	$679M
Q4 21	$776M
Q1 22	$682M
Q2 22	$680M
Q3 22	$648M
Q2 23	$707M
Q3 23	$725M
Q4 23	$807M
Q1 24	$791M
Q2 24	$781M
Q3 24	$724M
Q4 25	$808M

Revenue Segments

Quarter	Healthcare Distribution	Technology
Q2 20	$1.6B	$105M
Q3 20	$2.7B	$138M
Q2 21	$2.8B	$152M
Q1 22	$3.0B	$179M
Q2 22	$2.8B	$181M
Q3 22	$2.9B	$176M
Q2 23	$2.9B	$193M
Q3 23	$3.0B	$210M
Q1 24	$3.0B	$217M
Q2 24	$2.9B	$214M
Q3 24	$3.0B	$221M

Revenue by Geography

Quarter	International	North America
Q2 20	$479M	$1.2B
Q3 20	$708M	$2.1B
Q1 21	$793M	$2.1B
Q2 21	$832M	$2.1B
Q1 22	$768M	$2.4B
Q2 22	$771M	$2.3B
Q3 22	$693M	$2.4B
Q2 23	$838M	$2.3B
Q3 23	$799M	$2.4B
Q1 24	$866M	$2.3B
Q2 24	$851M	$2.3B
Q3 24	$819M	$2.4B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$126M	$0	$126M
Q2 22	$108M	$0	$108M
Q3 22	$123M	$0	$123M
Q4 22	$117M	$0	$117M
Q1 23	$126M	$0	$126M
Q2 23	$137M	$0	$137M
Q3 23	$166M	$0	$166M
Q4 23	$171M	$0	$171M
Q1 24	$159M	$0	$159M
Q2 24	$138M	$0	$138M
Q3 24	$126M	$0	$126M
Q4 24	$122M	$0	$122M
Q1 25	$127M	$0	$127M
Q2 25	$145M	$0	$145M
Q3 25	$136M	$0	$136M
Q4 25	$156M	$0	$156M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	142M	—	—
Q3 20	143M	+0.5%	—
Q1 21	143M	+0.2%	—
Q2 21	142M	-1.2%	—
Q4 21	140M	-0.9%	-1.4%
Q1 22	139M	-0.8%	-2.7%
Q2 22	139M	-0.3%	-3.2%
Q3 22	137M	-1.3%	-3.2%
Q2 23	132M	-3.8%	-6.0%
Q3 23	131M	-0.3%	-5.6%
Q4 23	131M	-0.5%	-5.9%
Q1 24	130M	-0.7%	-5.3%
Q2 24	129M	-0.9%	-2.4%
Q3 24	127M	-1.2%	-3.3%
Q4 25	118M	-6.9%	-9.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	$88.7K	19K
Q3 20	$149.5K	19K
Q1 21	$153.9K	19K
Q2 21	$156.2K	19K
Q4 21	$154.2K	22K
Q1 22	$147.2K	22K
Q2 22	$140.3K	22K
Q3 22	$142.0K	22K
Q2 23	$140.9K	22K
Q3 23	$143.7K	22K
Q4 23	$120.7K	25K
Q1 24	$126.9K	25K
Q2 24	$125.4K	25K
Q3 24	$127.0K	25K
Q4 25	$137.5K	25K

Revenue / Employee