Henry Schein Inc (HSIC)
Health Care · Health Care Distributors · US stock · S&P 500 component
$86.00
▲ +0.99 (1.16%)
Fair valueFair
$87 +1.0% to fair value
$43fair band $74–$105$130
Day's range
$84.81 – $86.26
52-week range
$62.15 – $92.18
About Henry Schein Inc
Henry Schein distributes healthcare products and services to dentists, physicians, veterinarians and other office-based practitioners. It supplies dental consumables, small equipment, medical supplies and pharmaceuticals, and also offers practice management software and services to help clinics run their businesses. Operations cover distribution and technology businesses, and the company serves customers in North America, Europe and other regions.
Henry Schein earns revenue mainly from the product margin on the goods it distributes, plus software, services and subscription income from its technology offerings. Sales for the last twelve months were $13.6 billion, up 1.4% a year across the last three years. The operating margin is 5.0%, and the business earns a profit of 8% on the capital invested in it. It has net debt of 3.3 times EBITDA. The company does not pay a dividend. On the site's X-Ray Score it receives 42 out of 100.
Price chart
52-wk range $62.15 – $92.18Volume 2,075,085Daily, split-adjusted
Vitals
Market cap$9.8B
52-week range$62.15 – $92.18
Volume (last day)2,075,085
P/E (TTM)24.0
EBIT / EV yield4.9%
Free-cash-flow yield5.8%
Dividend yieldNo dividend
Revenue (TTM)$13.6B
Net income (TTM)$424M
Operating margin5.0%
Return on capital8.0%
Debt incl. leases$3.5B
Cash & securities$157M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$87middle half of models $80 – $96
Fair
+1.0% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $86
Undervalued < $74Fair $74 – $105Overvalued > $105
P/E multiple
$85
P/B multiple
$81
P/S multiple
$77
EV/EBITDA multiple
$93
EV/EBIT multiple
$83
EV/revenue multiple
$70
10-year DCF, EBITDA exit
$105
5-year DCF, EBITDA exit
$99
10-year DCF, revenue exit
$102
5-year DCF, revenue exit
$96
10-year DCF, growth exit
$80
5-year DCF, growth exit
$70
Earnings power value
$88
Growth the price implies
13.8%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
63/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.9%
Free-cash-flow yield5.8%
Fair value vs price1.0×
Growth
Weak
32/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)1.4%
EPS growth (3y)-5.8%
Growth consistency90%
Profitability
Weak
46/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital8.0%
Operating margin5.0%
Gross profitability37.4%
Financial health
Weak
22/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score4 / 9
Net debt / EBITDA3.3×
Interest cover4.3×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
-0.1%
Mar '25
+3.3%
Jun '25
+5.2%
Sep '25
+7.7%
Dec '25
+6.3%
Mar '26
+6.7%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.5B, diluted EPS $0.82.
Compare with peers
MCK Mckesson Corp57 CAH Cardinal Health Inc53 COR Cencora, Inc.52Other Health Care Distributors companies by X-Ray Score.
SWOT analysis: Henry Schein Inc
Strengthsinside the company
- Free cash flow equals 5.8% of the market value, which funds dividends, buybacks or debt paydown.
Weaknessesinside the company
- Return on invested capital of 8.0% is well below the 55.4% median of industry peers.
- Earnings per share have declined 5.8% a year over three years.
Opportunitiesvaluation and setting
- No specific opportunity is visible in our valuation, sector or growth data.
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare HSIC with peers and sector
Medians of 3 Health Care Distributors peers and of 59 Health Care stocks in our universe.
Largest peers (X-Ray Score): MCK 57, COR 52, CAH 53.
| Metric | HSIC | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 42 | 53 | 49 |
| Valuation | 63 | 57 | 52 |
| Growth | 32 | 69 | 48 |
| Profitability | 46 | 54 | 51 |
| Financial health | 22 | 45 | 48 |
| Dividends | – | 55 | 51 |
Sector leaders: highest X-Ray Score in Health Care
HSIC ranks #44 of 60 in Health Care and #4 of 4 in Health Care Distributors by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for HSIC
Each factor is rated by where HSIC stands among the 60 Health Care stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 6 Good · 5 Average · 12 Bad of 23
Growth: 0 · 0 · 3
Profitability: 0 · 1 · 4
Financial strength: 0 · 1 · 3
Valuation: 4 · 1 · 0
Cash flow: 0 · 2 · 2
Efficiency: 2 · 0 · 0
| Factor | HSIC | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +1.4% | Bad beats 23% | +5.5% | – | – |
| Revenue growth, last year | +4.0% | Bad beats 31% | +7.1% | +2.7% | ≈ In line |
| EPS growth, 3 years a year | −5.8% | Bad beats 21% | +5.0% | – | – |
| Profitability | |||||
| Gross margin | 31.3% | Bad beats 17% | 65.0% | 31.1% | ≈ In line |
| Operating margin | 5.0% | Bad beats 24% | 16.4% | 5.0% | ≈ In line |
| Net margin | 3.1% | Bad beats 23% | 11.1% | 3.5% | ≈ In line |
| Return on invested capital | 8.0% | Bad beats 31% | 12.2% | – | – |
| Return on equity | 13.4% | Average beats 46% | 13.7% | 12.9% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 3.3x | Bad beats 25% | 2.0x | 2.5x | ▼ Worse |
| Interest cover | 4.3x | Bad beats 23% | 9.4x | 7.1x | ▼ Worse |
| Current ratio | 1.32 | Average beats 36% | 1.52 | 1.67 | ▼ Worse |
| Piotroski F-score | 4 / 9 | Bad beats 10% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 23.2x | Good beats 75% | 28.2x | 22.1x | ≈ In line |
| Price / book | 3.1x | Average beats 61% | 3.7x | 2.9x | ≈ In line |
| Price / sales | 0.7x | Good beats 84% | 3.7x | 0.8x | ≈ In line |
| EV / EBITDA | 13.7x | Good beats 76% | 17.6x | 12.5x | ≈ In line |
| Free cash flow yield | 5.8% | Good beats 68% | 4.4% | 5.9% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 4.2% | Bad beats 17% | 16.3% | 4.3% | ≈ In line |
| Cash from operations / net income | 1.65 | Average beats 60% | 1.61 | 1.15 | ▲ Better |
| Free cash flow growth, 3 years a year | +4.2% | Average beats 48% | +4.3% | – | – |
| Accruals (lower is better) | −2.4% | Bad beats 26% | −3.9% | – | – |
| Efficiency | |||||
| Inventory turnover | 4.5x | Good beats 71% | 2.9x | 4.7x | ≈ In line |
| Days sales outstanding | 47 days | Good beats 81% | 62 days | 43 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 3 Good · ● 4 Average · ● 9 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldGood
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Average
Revenue growth (3y)Bad
Growth consistencyAverage
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceAverage
EBIT / EV yieldGood
Profitability
Return on invested capitalBad
Operating marginBad
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 40/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $12.4B | $12.6B | $12.3B | $12.7B | $13.2B |
| Operating income | $852M | $747M | $615M | $621M | $653M |
| Net income | $660M | $566M | $436M | $398M | $419M |
| Operating cash flow | $710M | $602M | $500M | $848M | $712M |
| Operating margin | 6.9% | 5.9% | 5.0% | 4.9% | 5.0% |
| Free cash flow | $631M | $506M | $353M | $700M | $573M |
| Diluted EPS | $4.45 | $3.91 | $3.16 | $3.05 | $3.27 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
10 bullish · 4 neutral · 2 bearish
Weekly
Bullish
8 bullish · 1 neutral · 3 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 85.19 | Bullish |
| EMA 10 | 85.24 | Bullish |
| SMA 20 | 85.02 | Bullish |
| EMA 20 | 85.39 | Bullish |
| SMA 50 | 87.05 | Bearish |
| EMA 50 | 85.84 | Bullish |
| SMA 100 | 85.52 | Bullish |
| EMA 100 | 84.57 | Bullish |
| SMA 200 | 80.83 | Bullish |
| EMA 200 | 81.49 | Bullish |
Oscillators (daily)
| RSI (14) | 51.74 | Neutral |
| MACD (12, 26) | -0.34 | Bearish |
| Momentum (12) | 1.37 | Bullish |
| Stochastic %K (14) | 75.68 | Neutral |
| Williams %R (14) | -24.32 | Neutral |
| CCI (20) | 62.84 | Neutral |
Pivot points (classic, last session)
S3 83.67 | S2 84.24 | S1 85.12 | Pivot 85.69 | R1 86.57 | R2 87.14 | R3 88.02 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold HSIC
| ETF | Share of the fund |
|---|---|
| RPV Invesco S&P 500 Pure Value | 0.63% |
| DFAT DFA Investment Dimensions Group Inc. | 0.22% |
| RSP Invesco S&P 500 Equal Weight | 0.21% |
| DFAS DFA Investment Dimensions Group Inc. | 0.19% |
| VBR Vanguard Small-Cap Value | 0.17% |
| JHMM John Hancock Multifactor Mid Cap | 0.16% |
| ESML iShares ESG Aware MSCI USA Small-Cap | 0.16% |
| SCHM Schwab U.S. Mid-Cap | 0.14% |
The eight funds with the largest weight in HSIC among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
HSIC stock splits
HSIC has split its stock 2 times since 2005. The latest was a 2-for-1 split on 15 Sep 2017.
Full HSIC stock split history →HSIC SEC filings
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8-KSEC EDGAR
Entered a material agreement
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8-KSEC EDGAR
Shareholder vote results; Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.