Is the business good?
How good a business is HSIC?
Henry Schein earns 8.0% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.0%
Return on invested capital · cost of capital 9.0% · 1.0 points below what the capital costs: growth destroys value
- Operating margin
- 4.9%
Operating margin · Healthcare median 3.4% · 12 months to Q1 2026
- Cash conversion
- 1.13×
Cash conversion · 1.35× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −7.0%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 5.3% |
| FY2021 | 6.9% |
| FY2022 | 5.9% |
| FY2023 | 5.0% |
| FY2024 | 4.9% |
| FY2025 | 5.0% |
Details›
- Gross margin12 months to Q1 2026
- 31%
- Operating margin12 months to Q1 2026
- 4.9%
- Net margin12 months to Q1 2026
- 2.9%
- Free cash flow margin
- 3.3%
- Revenue, trailing twelve months
- $13.4B
- Free cash flow, trailing twelve months
- $445M
- Net income, trailing twelve months
- $395M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.0%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.