Health Care · Health Care Distributors · US stock · price as of 16 Oct 2026
Key indicators
Price
$86.38
52-week range
$61.95 – $92.18
Market cap
$9.9B
P/E (trailing)
24.1×
EV / EBITDA
13.1×
Free-cash-flow yield
5.8%
Dividend yield
–
Revenue (last 12 months)
$13.6B
Revenue growth (3y a year)
1.4%
Operating margin
5.0%
Return on invested capital
8.0%
Net debt / EBITDA
3.3×
Fair value
Blended fair value$93.76 range $89 – $98
Versus priceFair+9% to fair value
Peer multiples
$108.70
Fundamentals-adjusted multiple
$115.43
10-year DCF (market-scaled)
$57.14
Earnings power value (floor, not blended)
$28.32
Model uncertainty
Medium
X-Ray Score
42/ 100 · High confidence · ahead of 28% of sector peers
Valuation63
Growth32
Profitability46
Financial health22
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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.
StocksXray gives Henry Schein Inc an X-Ray Score of 42 out of 100 (high confidence), ahead of 28% of the S&P 500 stocks in its sector. Its strongest lens is valuation (63) and its weakest is financial health (22).
Our fair value blend is $93.76 (range $89.08 to $98.44). At $86.38 the stock trades 8% below that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Henry Schein Inc (HSIC)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$74.93
$79.87
$75.71
$70.42
$76.13
$86.38
Market cap
$10.6B
$11.0B
$10.0B
$9.0B
$9.3B
$9.9B
P/E
16.8×
20.4×
24.0×
23.1×
23.3×
24.1×
EV / revenue
1.0×
1.0×
1.0×
1.0×
1.0×
1.0×
EV / EBITDA
11.3×
13.2×
14.8×
13.1×
13.4×
13.7×
Price / free cash flow
16.8×
21.7×
28.3×
12.9×
16.2×
17.4×
Free-cash-flow yield
5.9%
4.6%
3.5%
7.8%
6.2%
5.8%
Price / book
3.1×
3.2×
2.7×
2.7×
2.9×
3.1×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 1 Good · ● 6 Average · ● 9 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−2.4%Bad
Free-cash-flow yield5.8%Average
Risk models
Altman Z score2.5×Bad
Piotroski F-Score4 of 9Bad
Growth
EPS growth (3y)−5.8%Bad
Free-cash-flow growth (3y)4.2%Average
Revenue growth (3y)1.4%Bad
Growth consistency90%Average
Balance sheet
Current ratio1.3×Average
Net debt / EBITDA3.3×Bad
Interest cover4.3×Bad
Valuation
Fair value vs price1.1×Average
EBIT / EV yield4.9%Average
Profitability
Return on invested capital8.0%Bad
Operating margin5.0%Bad
Gross profitability37.4%Good
XStocksXray
Henry Schein Inc (HSIC)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
12,401
12,647
12,339
12,673
13,184
13,602
Gross profit
3,674
3,831
3,860
4,016
4,105
4,260
Operating income
852
747
615
621
653
680
Net income
660
566
436
398
419
424
Diluted EPS ($)
4.45
3.91
3.16
3.05
3.27
3.58
Free cash flow
631
506
353
700
573
569
Gross margin
29.6%
30.3%
31.3%
31.7%
31.1%
31.3%
Operating margin
6.9%
5.9%
5.0%
4.9%
5.0%
5.0%
Net margin
5.3%
4.5%
3.5%
3.1%
3.2%
3.1%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
8,481
8,607
10,573
10,218
11,215
11,381
Cash
118
117
171
122
156
157
Total debt
873
1,149
2,351
2,536
3,107
3,462
Equity
3,425
3,446
3,655
3,393
3,245
3,157
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.