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Henry Schein
(NASDAQ:HSIC)
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Rating:61Neutral
Price Target:
$88.00
▼(-2.63% Downside)
Action:Reiterated
Date:10/08/26
HSIC scores as a moderate-quality setup: steady financial performance and reliable free cash flow are tempered by margin compression and higher leverage, while technical indicators point to weak near-term momentum. The latest earnings call is a clear positive (raised guidance and margin/profit improvement initiatives), partially offset by restructuring-related uncertainty and localized end-market softness; valuation appears only middling at ~24x earnings with no dividend yield provided.
Positive Factors
Recurring technology revenue
With about 90% of Henry Schein One revenue recurring and 13,000 subscribers, the technology platform can provide repeatable revenue beyond product distribution. Subscriber growth and recurring customer relationships can improve retention and diversify the business over the next several quarters.
Negative Factors
Higher leverage
Debt-to-equity has increased substantially over several years, reaching about 1.15 in the trailing twelve months. Although equity remains solid, the higher debt load reduces financial flexibility and can constrain acquisitions, repurchases, or other investments if operating conditions weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring technology revenue
With about 90% of Henry Schein One revenue recurring and 13,000 subscribers, the technology platform can provide repeatable revenue beyond product distribution. Subscriber growth and recurring customer relationships can improve retention and diversify the business over the next several quarters.
Read all positive factors
Henry Schein Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Shows how profitable each major business line is after operating costs, highlighting which segments drive earnings, where margins are under pressure, and how efficiently management converts sales into profit.
Shows how profitable each major business line is after operating costs, highlighting which segments drive earnings, where margins are under pressure, and how efficiently management converts sales into profit.
Data provided by:
The Fly
The FlyHenry Schein (HSIC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.39B
Dividend YieldN/A
Average Volume (3M)1.29M
Price to Earnings (P/E)24.3
Beta (1Y)0.30
Revenue Growth6.49%
EPS Growth10.41%
CountryUS
Employees25,000
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)3.46
Shares Outstanding111,446,540
10 Day Avg. Volume1,165,502
30 Day Avg. Volume1,285,151
Financial Highlights & Ratios
PEG Ratio3.23
Price to Book (P/B)2.83
Price to Sales (P/S)0.70
P/FCF Ratio16.05
Enterprise Value/Market Cap1.59
Enterprise Value/Revenue1.10
Enterprise Value/Gross Profit3.62
Enterprise Value/Ebitda14.30
Forecast
1Y Price Target
$98.13Price Target Upside8.58% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering16
EPS Forecast (FY)5.39
Revenue Forecast (FY)$13.87B
Henry Schein Business Overview & Revenue Model
Company Description
Henry Schein, Inc. (HSIC) is a global leader in delivering a comprehensive suite of healthcare products and services. The company caters to a diverse clientele across the globe, including dental professionals and laboratories, physician practices,...
How the Company Makes Money
Henry Schein makes money primarily by selling and distributing healthcare products and practice-related solutions to professional customers. A large portion of revenue comes from ongoing, repeat purchases of consumable supplies used in routine pat...
Henry Schein Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive operational and financial update: solid top-line growth (6.7%), expanding margins, double-digit non-GAAP EPS growth (15.5%), strong adjusted EBITDA growth (12.7%), and raised full-year guidance. Management reinforced a clear value-creation program with specific savings targets ($125M run-rate by end-2026; $200M+ over time) and early implementation steps producing measurable benefits. Technology and recurring-revenue businesses (Dentrix Ascend / Henry Schein One) showed notable strength and strategic potential. Near-term headwinds include a small decline in U.S. dental equipment, lower point-of-care diagnostic demand, meaningful Q2 restructuring charges ($29M), and reduced remeasurement gains versus prior year, which constrain GAAP clarity and EPS flow-through. Overall, the positive metrics, guidance raise, and credible execution plan outweigh the localized challenges and one-time costs.Positive Updates
Strong Revenue Growth
Global sales of $3.5 billion, up 6.7% year-over-year; internal local currency sales growth of 4.6%, foreign exchange contributed ~1.4% and acquisitions ~0.7%.
Negative Updates
U.S. Dental Equipment Softness
U.S. Dental Equipment sales declined 1.1% year-over-year, primarily due to tough prior-year comparables (large dental school orders) and continued pressure in some equipment categories.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Global sales of $3.5 billion, up 6.7% year-over-year; internal local currency sales growth of 4.6%, foreign exchange contributed ~1.4% and acquisitions ~0.7%.
Read all positive updates
Company Guidance
Henry Schein raised full‑year 2026 guidance to total sales growth of 4.5%–5.5% over 2025 (prior range 3%–5%), with expected H2 internal local‑currency sales growth of ~3.5%–4.5% (vs. 3.6% internal LCC in H1), and non‑GAAP diluted EPS of $5.29–$5.39 (up 6%–8% vs. 2025 non‑GAAP EPS of $4.97; prior EPS guide $5.23–$5.37); the company is not providing GAAP guidance and is excluding restructuring and other specified items. Guidance assumes no further remeasurement gains (2026 remeasurement gains expected to total $11M, already recorded in Q1), a non‑GAAP effective tax rate of ~24%, and adjusted EBITDA growth in the mid‑ to high‑single digits off 2025 adjusted EBITDA of $1.1B. Management reiterated its value‑creation targets of >$200M in operating‑income improvements (with a $125M run rate exiting 2026, ~40% of 2026 in‑year benefits from gross profit and ~60% from G&A), expects Q4 earnings growth to exceed Q3, and noted operating cash flow should exceed net income for the full year.Henry Schein Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
57
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.60B | 13.18B | 12.67B | 12.34B | 12.65B | 12.40B |
| Gross Profit | 4.12B | 3.84B | 3.77B | 3.65B | 3.65B | 3.67B |
| EBITDA | 1.04B | 1.01B | 912.00M | 851.00M | 977.00M | 1.07B |
| Net Income | 403.00M | 398.00M | 390.00M | 416.00M | 538.00M | 623.91M |
Balance Sheet | ||||||
| Total Assets | 11.38B | 11.21B | 10.22B | 10.57B | 8.61B | 8.48B |
| Cash, Cash Equivalents and Short-Term Investments | 157.00M | 156.00M | 122.00M | 171.00M | 117.00M | 118.00M |
| Total Debt | 3.81B | 3.69B | 2.87B | 2.74B | 1.50B | 1.22B |
| Total Liabilities | 6.66B | 6.42B | 5.38B | 5.42B | 3.94B | 3.81B |
| Stockholders Equity | 3.16B | 3.25B | 3.39B | 3.65B | 3.45B | 3.42B |
Cash Flow | ||||||
| Free Cash Flow | 539.00M | 573.00M | 661.00M | 313.00M | 506.00M | 630.57M |
| Operating Cash Flow | 700.00M | 712.00M | 848.00M | 500.00M | 602.00M | 709.58M |
| Investing Cash Flow | -331.00M | -477.00M | -430.00M | -1.14B | -276.00M | -677.22M |
| Financing Cash Flow | -381.00M | -111.00M | -510.00M | 701.00M | -315.00M | -332.96M |
Henry Schein Technical Analysis
Negative
90.38
Price Trends
86.74
Negative
85.78
Negative
80.92
Positive
Market Momentum
-0.41
Negative
44.62
Neutral
17.69
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HSIC, the sentiment is Negative. The current price of 90.38 is above the 20-day moving average (MA) of 84.84, above the 50-day MA of 86.74, and above the 200-day MA of 80.92, indicating a neutral trend. The MACD of -0.41 indicates Negative momentum. The RSI at 44.62 is Neutral, neither overbought nor oversold. The STOCH value of 17.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HSIC.
Henry Schein Risk Analysis
Henry Schein disclosed 29 risk factors in its most recent earnings report. Henry Schein reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Henry Schein Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $112.75B | 25.77 | -194.39% | 0.35% | 8.84% | 48.98% | |
62 Neutral | $57.07B | 33.90 | -59.73% | 0.83% | 14.23% | 12.28% | |
61 Neutral | $9.39B | 24.35 | 12.37% | ― | 6.49% | 10.41% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
| ― | $1.21B | -20.98 | -15.11% | 1.49% | -6.20% | 95.22% | |
41 Neutral | $26.36M | -1.68 | 23.64% | ― | -23.90% | -45.45% |
* Healthcare Sector Average
HSIC
Henry Schein
84.25
21.04
33.29%
CAH
Cardinal Health
246.45
85.18
52.82%
MCK
McKesson
967.02
165.59
20.66%
AHG
Akso Health Group Sponsored ADR
1.41
-0.18
-11.32%
YI
111
3.00
-1.46
-32.74%
Henry Schein Corporate Events
Business Operations and StrategyExecutive/Board Changes
Henry Schein Announces CFO Transition and Leadership Enhancements
Positive
Oct 8, 2026
Henry Schein, Inc. is a products, services, and technology platforms company focused on healthcare customers, supplying office-based dental and medical practitioners, dental laboratories, and institutional and government clinics with more than 300...
Business Operations and StrategyPrivate Placements and Financing
Henry Schein Expands and Extends Revolving Credit Facility
Positive
Sep 22, 2026
On September 21, 2026, Henry Schein amended and restated its revolving credit agreement, expanding the aggregate commitments from $1 billion to $1.25 billion and extending the facility’s termination date to September 19, 2031. The revised fa...
Business Operations and StrategyExecutive/Board Changes
Henry Schein announces major leadership reorganization initiative
Positive
Jul 30, 2026
On July 30, 2026, Henry Schein announced a major leadership reorganization, creating the Henry Schein Leadership Team to replace its Executive Management Committee and integrating its global supply chain organization with its global distribution g...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.