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Henry Schein, Inc. is a solutions company for health care professionals powered by a network of people and technology. We believe we are the world s largest provider of health care products and services primarily to office- based dental and medical practitioners, as well as alternate sites of care.
Operating margin is thin at 4.95%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 4.0%, steady but not accelerating. Free cash flow declined 18% despite revenue growth, conversion is weakening.
Free cash flow declined 18% versus the prior year, cash generation momentum has weakened. Net debt of $3.29B represents 5.7x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$13.38B
▲ +4.0% YoY
Net Income (TTM)
$395M
▲ +2.1% YoY
Op. Margin
4.93%
ROIC
7.77%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$445M
▼ -18.1% YoY
Op. Cash Flow (TTM)
$578M
▼ -16.0% YoY
Net Debt
$3.62B
Cash & Equiv.
$138M
5Y CAGR: +5.4%
5Y CAGR: +0.8%
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