NASDAQ: HSIC
Henry Schein
Health Care · Wholesale-Medical, Dental & Hospital Equipment & Supplies
52-week range
$62.32$92.18
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$9.47B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $12.0B |
| FY2017, ended Dec 30, 2017 | $10.7B |
| FY2018, ended Dec 29, 2018 | $11.8B |
| FY2019, ended Dec 28, 2019 | $9.55B |
| FY2020, ended Dec 26, 2020 | $9.38B |
| FY2021, ended Dec 25, 2021 | $10.3B |
| FY2022, ended Dec 31, 2022 | $10.5B |
| FY2023, ended Dec 30, 2023 | $9.73B |
| FY2024, ended Dec 28, 2024 | $8.74B |
| FY2025, ended Dec 27, 2025 | $8.73B |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $9.47B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$13.6B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $11.6B |
| FY2017, ended Dec 30, 2017 | $12.5B |
| FY2018, ended Dec 29, 2018 | $13.2B |
| FY2019, ended Dec 28, 2019 | $9.99B |
| FY2020, ended Dec 26, 2020 | $10.1B |
| FY2021, ended Dec 25, 2021 | $12.4B |
| FY2022, ended Dec 31, 2022 | $12.6B |
| FY2023, ended Dec 30, 2023 | $12.3B |
| FY2024, ended Dec 28, 2024 | $12.7B |
| FY2025, ended Dec 27, 2025 | $13.2B |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $13.6B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $507M | $572M |
| FY2017, ended Dec 30, 2017 | $406M | $483M |
| FY2018, ended Dec 29, 2018 | $536M | $613M |
| FY2019, ended Dec 28, 2019 | $695M | $578M |
| FY2020, ended Dec 26, 2020 | $404M | $550M |
| FY2021, ended Dec 25, 2021 | $631M | $631M |
| FY2022, ended Dec 31, 2022 | $538M | $506M |
| FY2023, ended Dec 30, 2023 | $416M | $353M |
| FY2024, ended Dec 28, 2024 | $390M | $700M |
| FY2025, ended Dec 27, 2025 | $398M | $573M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $403M | $569M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$157M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $62.4M |
| FY2017, ended Dec 30, 2017 | $158M |
| FY2018, ended Dec 29, 2018 | $56.9M |
| FY2019, ended Dec 28, 2019 | $106M |
| FY2020, ended Dec 26, 2020 | $421M |
| FY2021, ended Dec 25, 2021 | $118M |
| FY2022, ended Dec 31, 2022 | $117M |
| FY2023, ended Dec 30, 2023 | $171M |
| FY2024, ended Dec 28, 2024 | $122M |
| FY2025, ended Dec 27, 2025 | $156M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $157M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.$3.46B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $781M |
| FY2017, ended Dec 30, 2017 | $924M |
| FY2018, ended Dec 29, 2018 | $1.94B |
| FY2019, ended Dec 28, 2019 | $757M |
| FY2020, ended Dec 26, 2020 | $699M |
| FY2021, ended Dec 25, 2021 | $873M |
| FY2022, ended Dec 31, 2022 | $1.15B |
| FY2023, ended Dec 30, 2023 | $2.35B |
| FY2024, ended Dec 28, 2024 | $2.54B |
| FY2025, ended Dec 27, 2025 | $3.11B |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $3.46B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 29.6% since 2016.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.111M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 158M |
| FY2017, ended Dec 30, 2017 | 154M |
| FY2018, ended Dec 29, 2018 | 151M |
| FY2019, ended Dec 28, 2019 | 143M |
| FY2020, ended Dec 26, 2020 | 142M |
| FY2021, ended Dec 25, 2021 | 137M |
| FY2022, ended Dec 31, 2022 | 131M |
| FY2023, ended Dec 30, 2023 | 129M |
| FY2024, ended Dec 28, 2024 | 124M |
| FY2025, ended Dec 27, 2025 | 115M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | 111M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 27, 2026. Hover or tap a column for another year.Net: $689M more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $550M | $58.2M | — |
| FY2017, ended Dec 30, 2017 | $450M | $36.8M | — |
| FY2018, ended Dec 29, 2018 | $200M | $32.6M | — |
| FY2019, ended Dec 28, 2019 | $525M | $44.9M | — |
| FY2020, ended Dec 26, 2020 | $74.0M | $9.00M | — |
| FY2021, ended Dec 25, 2021 | $401M | $78.0M | — |
| FY2022, ended Dec 31, 2022 | $485M | $54.0M | — |
| FY2023, ended Dec 30, 2023 | $250M | $39.0M | $0 |
| FY2024, ended Dec 28, 2024 | $385M | $39.0M | $0 |
| FY2025, ended Dec 27, 2025 | $850M | $39.0M | $250M |
| Trailing 12 months to Jun 27, 2026 (through Q2 FY2026) | $728M | $39.0M | $0 |
Revenue (TTM)
$13.6B
+6.5% YoY
Net income (TTM)
$403M
+3.6% YoY
Cash
$157M
+8.3% YoY
Total debt
$3.46B
+14.7% YoY
Valuation
At current price- Market Cap
- $9.46B
- P/E
- 23.5×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 0.7×
- Price / Book
- 3.0×
- EV / EBITDA
- 12.7×
Growth
Trailing 12 months- Revenue (TTM)
- $13.6B
- Revenue Growth YoY
- 6.5%
- Revenue CAGR 3Y
- 1.4%
- Revenue CAGR 5Y
- 5.4%
- EPS Growth YoY
- 10.3%
- Net Income Growth YoY
- 3.6%
Profitability
Trailing 12 months- Gross Margin
- 31.3%
- Operating Margin
- 5.0%
- Net Margin
- 3.0%
- FCF Margin
- 4.2%
- Return on Equity
- 12.2%
Earnings
Trailing 12 months- Net Income
- $403M
- EPS (diluted)
- $3.43
- EBITDA
- $1.01B
- Operating Income
- $680M
Balance Sheet
As of Jun 27, 2026- Cash and cash equivalents
- $157M
- Total Debt
- $3.46B
- Net Debt
- $3.31B
- Total Assets
- $11.4B
- Total Liabilities
- $6.66B
- Shareholders' Equity
- $3.16B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $700M
- Capital Expenditure
- $131M
- Free Cash Flow
- $569M
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 0.84
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 6.5% year over year, at $13.6B.
Note
Net margin of 3.0% over the last 12 months.
Watch
Net debt is 3.3× EBITDA ($3.31B), a heavy load.
Note
Free cash flow of $569M, 4.2% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 27, 2025 · filed Feb 24, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K55Some concerns
55Some concerns
10-K for the fiscal year ended Dec 28, 2024
Filed Feb 25, 2025 · Read the filing on EDGAR
- Sales rose 2.7% to $12.7 billion thanks to acquisitions, while operating income held near $621 million and net income fell about 6% to $390 million.
- Excluding acquisitions and currency, sales slipped 0.4%, as customers moved to cheaper products and some occasional buyers did not return after the 2023 cyberattack.
- Operating cash flow jumped to $848 million from $500 million, and the auditor now says internal controls are effective, after last year's material weakness finding.
- KKR agreed to invest another $250 million, reaching a 12% stake with two board seats, and the board authorized $500 million more in share buybacks.
Business momentum
Mixed
“Global net sales for the year ended December 28, 2024 increased 2.7%.”
Outlook
Neutral
“We believe that demand for our products and services will grow while continuing to be impacted by current and future operating, economic, and industry conditions.”
Financial stress
Low
“Net cash provided by operating activities was $848 million for the year ended December 28, 2024, compared to net cash provided by operating activities of $500 million for the prior year.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Much stronger operating cash flow
“Net cash provided by operating activities was $848 million for the year ended December 28, 2024, compared to net cash provided by operating activities of $500 million for the prior year.”
Auditor now says internal controls are effective
“In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 28, 2024, based on the COSO criteria.”
New $250 million investment from KKR
“In addition to KKR’s current holdings, KKR will make an additional $250 million investment in the Company’s common stock.”
Concerns
Sales growth came from acquisitions, not the existing business
“The 0.4% decrease in our internally generated local currency sales was primarily attributable to the migration to lower priced products and the challenging economic environment in certain markets and lower sales of PPE products and COVID-19 test kits.”
Some customers have not returned since the cyberattack
“During the year ended December 28, 2024, we had a sales decrease in our dental and medical distribution businesses, which we believe was primarily a result of lower sales to episodic customers following last year’s cyber incident.”
Higher interest costs reduced profit
“Interest expense increased primarily due to increased borrowings and increased interest rates.”
New risks since the previous report
KKR's large stake could create uncertainty and conflicts
“KKR also invests in many different types of businesses, and has or may continue to invest in customers, suppliers, joint venture partners, or other entities that have relationships with the Company, or in competitors of such entities, which may create unintended conflicts resulting in a loss of business.”
Activist investors could distract management and raise costs
Generative AI could expose company data and harm its reputation
“Additionally, widely assessable generative AI that rapidly surpasses our organizational ability to understand associated risks and opportunities (including employees’ failure to comply with policies governing AI usage) could endanger our intellectual property, lead to misuse of data and cause reputational harm.”
Dependence on a CEO whose contract ends in 2025
“In November 2022, Mr. Bergman’s employment agreement was extended through December 31, 2025.”
Biggest risks named
- Cyberattacks, data breaches and related claims
- Acquisition integration and restructuring execution
- Competition, consolidation, buying groups and online sellers
- Health care regulation, fraud enforcement and privacy laws
- Supplier dependence and supply disruption
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | 0 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 55 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 13 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 24, 2026 | Pro | |||
| 10-K | Feb 25, 2025 | 55 | Mixed | None | |
| 10-K | Feb 28, 2024 | 31 | Weakening | 1 serious1 medium | |
| 10-K | Feb 21, 2023 | 48 | Mixed | 1 medium1 minor | |
| 10-K | Feb 15, 2022 | 69 | Strong improvement | 1 minor | |
| 10-K | Feb 17, 2021 | 36 | Sharp deterioration | 1 medium1 minor | |
| 10-K | Feb 20, 2020 | 74 | Strong improvement | 1 minor | |
| 10-K | Feb 20, 2019 | 51 | Mixed | 2 medium2 minor | |
| 10-K | Feb 21, 2018 | 53 | Mixed | 2 medium | |
| 10-K | Feb 21, 2017 | 66 | Improving | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 27, 2026), filed Aug 4, 2026. View filings on SEC EDGAR