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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $13.2B | $964M | $398M | $521M | 12.3% | 4.0% | 2.1% |
| 2024 | $12.7B | $912M | $390M | $661M | 11.5% | 2.7% | -6.3% |
| 2023 | $12.3B | $851M | $416M | $313M | 11.4% | -2.4% | -22.7% |
| 2022 | $12.6B | $950M | $538M | $474M | 15.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 12,647 | 12,339 | 12,673 | 13,184 |
| Operating Revenue | - | 12,647 | 12,339 | 12,673 | 13,184 |
| Cost Of Revenue | - | 8,816 | 8,479 | 8,657 | 9,079 |
| Gross Profit | - | 3,831 | 3,860 | 4,016 | 4,105 |
| Operating Expense | - | 2,953 | 3,165 | 3,285 | 3,347 |
| Selling General And Administration | - | 2,771 | 2,956 | 3,034 | 3,084 |
| Total Expenses | - | 11,769 | 11,644 | 11,942 | 12,426 |
| Operating Income | - | 878 | 695 | 731 | 758 |
| Total Operating Income As Reported | - | 747 | 615 | 621 | 653 |
| EBITDA | - | 950 | 851 | 912 | 964 |
| Normalized EBITDA | - | 1,081 | 931 | 1,022 | 1,069 |
| EBIT | - | 756 | 629 | 644 | 683 |
| Interest Income | - | 8 | 17 | 24 | 33 |
| Interest Expense | - | 35 | 87 | 131 | 150 |
| Net Interest Income | - | -27 | -70 | -107 | -117 |
| Other Non Operating Income Expenses | - | 1 | -3 | -1 | -3 |
| Other Income Expense | - | -130 | -83 | -111 | -108 |
| Interest Income Non Operating | - | 8 | 17 | 24 | 33 |
| Interest Expense Non Operating | - | 35 | 87 | 131 | 150 |
| Net Non Operating Interest Income Expense | - | -27 | -70 | -107 | -117 |
| Pretax Income | - | 721 | 542 | 513 | 533 |
| Tax Provision | - | 170 | 120 | 128 | 126 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -30.78 | -17.71 | -27.39 | -24.88 |
| Net Income Continuous Operations | - | 566 | 436 | 398 | 419 |
| Net Income From Continuing And Discontinued Operation | - | 538 | 416 | 390 | 398 |
| Net Income From Continuing Operation Net Minority Interest | - | 538 | 416 | 390 | 398 |
| Net Income | - | 538 | 416 | 390 | 398 |
| Net Income Common Stockholders | - | 538 | 416 | 390 | 398 |
| Net Income Including Noncontrolling Interests | - | 566 | 436 | 398 | 419 |
| Normalized Income | - | 638.22 | 478.29 | 472.61 | 478.12 |
| Diluted NI Availto Com Stockholders | - | 538 | 416 | 390 | 398 |
| Basic Average Shares | - | 136.06 | 130.62 | 126.79 | 120.81 |
| Diluted Average Shares | - | 137.76 | 131.75 | 127.78 | 121.72 |
| Reconciled Depreciation | - | 194 | 222 | 268 | 281 |
| Reconciled Cost Of Revenue | - | 8,804 | 8,466 | 8,640 | 9,061 |
| Total Unusual Items | - | -131 | -80 | -110 | -105 |
| Total Unusual Items Excluding Goodwill | - | -131 | -80 | -110 | -105 |
| Minority Interests | - | -28 | -20 | -8 | -21 |
| Net Income Discontinuous Operations | 0 | 0 | - | - | - |
| Earnings From Equity Interest Net Of Tax | - | 15 | 14 | 13 | 12 |
| Special Income Charges | - | -131 | -80 | -110 | -105 |
| Restructuring And Mergern Acquisition | - | 131 | 80 | 110 | 105 |
| Depreciation Amortization Depletion Income Statement | - | 182 | 209 | 251 | 263 |
| Depreciation And Amortization In Income Statement | - | 182 | 209 | 251 | 263 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Henry Schein, Inc.this co. | HSIC | $8.7B | 21.84β discount | 2.68 | 12.3% | 12.42 |
| Molina Healthcare, Inc. | MOH | $10.0B | 21.28 | 2.47 | 11.6% | - |
| Baxter International Inc. | BAX | $10.0B | -10.44 | 1.63 | -15.6% | 23.25 |
| Krystal Biotech, Inc. | KRYS | $9.1B | 44.30 | 7.44 | 16.8% | 51.16 |
| Charles River Laboratories International, Inc. | CRL |
| - |
| - |
| - |
| - |
| - |
| $8.9B |
| - |
| 2.83 |
| -4.6% |
| 27.52 |
| Bio-Techne Corporation | TECH | $8.3B | 113.50 | 4.34 | 3.8% | 39.69 |
| Corcept Therapeutics Incorporated | CORT | $8.0B | 80.68 | 12.41 | 15.4% | 66.11 |
| Alkermes plc | ALKS | $7.2B | 29.92 | 3.97 | 13.3% | 20.89 |
| Glaukos Corporation | GKOS | $7.1B | -38.08 | 10.89 | -28.6% | -49.02 |
| Peer Median | - | 29.92 | 4.16 | 7.7% | 27.52 | |