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.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
52-wk range $61.95 – $92.18Volume 1,178,800Daily, split-adjusted
Vitals
Market cap$9.9B
52-week range$61.95 – $92.18
Volume (last day)1,178,800
P/E (TTM)24.1
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 like Apple). 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
$94model spread $89 – $98
Fair+8.5% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $86
Undervalued < $66Fair $66 – $122Overvalued > $122
10-year DCF (market-scaled)
$57
Peer multiples
$109
Earnings power floor (not blended)
$28
Fundamentals-adjusted multiple
$115
Growth the price implies
13.6%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (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.
ValuationFair
63/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.9%
Free-cash-flow yield5.8%
Fair value vs price1.1×
GrowthWeak
32/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)1.4%
EPS growth (3y)-5.8%
Growth consistency90%
ProfitabilityWeak
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 healthWeak
22/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score4 / 9
Net debt / EBITDA3.3×
Interest cover4.3×
DividendsNone
–/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.
Other Health Care Distributors companies by X-Ray Score.
Fundamentals checklist
● 1 Good · ● 6 Average · ● 9 Bad
Cash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
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 yieldAverage
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 · 1 neutral · 5 bearish
Weekly
Strongly bullish
10 bullish · 1 neutral · 1 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
SMA 10
84.96
Bullish
EMA 10
85.44
Bullish
SMA 20
85.19
Bullish
EMA 20
85.58
Bullish
SMA 50
87.38
Bearish
EMA 50
85.99
Bullish
SMA 100
85.18
Bullish
EMA 100
84.54
Bullish
SMA 200
80.67
Bullish
EMA 200
81.35
Bullish
Oscillators (daily)
RSI (14)
52.65
Neutral
MACD (12, 26)
-0.38
Bearish
Momentum (12)
2.87
Bullish
Stochastic %K (14)
80.02
Bearish
Williams %R (14)
-19.98
Bearish
CCI (20)
133.4
Bearish
Pivot points (classic, last session)
S3
83.16
S2
84.51
S1
85.44
Pivot
86.79
R1
87.72
R2
89.07
R3
90.00
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.