Henry Schein (HSIC)
NASDAQ:HSIC
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Henry Schein
(NASDAQ:HSIC)
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Rating:65Neutral
Price Target:
$78.00
▲(8.18% Upside)
Action:DowngradedDate:02/25/26
The score is anchored by stable (but leveraged) fundamentals with strong 2025 free-cash-flow improvement, plus supportive technical momentum. These positives are moderated by a relatively full P/E and earnings-call risks around margin mix, restructuring uncertainty, and external pressures (tariffs/medical demand), despite constructive 2026 growth guidance and value-creation targets.
Positive Factors
Strong free cash flow
A sizable, durable rebound in free cash flow (~50% to ~$573M in 2025) strengthens funding for share repurchases, debt reduction, capex and execution of strategic initiatives. Sustained cash generation increases financial flexibility and supports multi-year value-creation plans.
Negative Factors
Increased leverage
Material increase in debt (from ~$1.0B in 2020 to ~$3.7B in 2025) and higher leverage reduce balance‑sheet flexibility. Elevated debt limits tactical responses to shocks, constrains M&A or buyback optionality and raises interest exposure over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
A sizable, durable rebound in free cash flow (~50% to ~$573M in 2025) strengthens funding for share repurchases, debt reduction, capex and execution of strategic initiatives. Sustained cash generation increases financial flexibility and supports multi-year value-creation plans.
Read all positive factors
Henry Schein (HSIC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.27B
Dividend YieldN/A
Average Volume (3M)1.28M
Price to Earnings (P/E)23.1
Beta (1Y)0.36
Revenue Growth3.51%
EPS Growth29.65%
CountryUS
Employees25,000
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)1.34
Shares Outstanding114,704,124
10 Day Avg. Volume1,389,561
30 Day Avg. Volume1,278,409
Financial Highlights & Ratios
PEG Ratio3.22
Price to Book (P/B)2.83
Price to Sales (P/S)0.70
P/FCF Ratio16.05
Enterprise Value/Market Cap1.45
Enterprise Value/Revenue0.91
Enterprise Value/Gross Profit3.13
Enterprise Value/Ebitda12.03
Forecast
1Y Price Target
$89.85Price Target Upside24.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)5.29
Revenue Forecast (FY)$13.72B
Henry Schein Business Overview & Revenue Model
Company Description
Henry Schein, Inc. provides health care products and services to dental practitioners and laboratories, physician practices, government, institutional health care clinics, and other alternate care clinics worldwide. It operates through two segment...
How the Company Makes Money
Henry Schein makes money primarily by selling and distributing healthcare products and related services to dental and medical practices and other care settings. Its core revenue model is product distribution: it purchases branded and proprietary c...
Henry Schein Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call presented a largely positive operational and commercial picture: strong top‑line momentum across core businesses (especially equipment, specialty products, and technology), improving SaaS traction and AI partnerships, solid cash flow, share buybacks, and explicit value‑creation targets. Offsetting items include margin pressure from mix, sizable restructuring costs in 2025, softness in respiratory/medical demand, and uncertainty around remeasurement gains and tariff exposure. Management expects 2026 improvement to be back‑half weighted and provided mid‑single to low‑single digit growth guidance, reflecting cautious optimism.Positive Updates
Strong Quarterly and Year‑over‑Year Sales Growth
Q4 global sales of $3.4 billion, up 7.7% year‑over‑year (5.8% constant currency; +1.9% FX benefit). Acquisitions contributed 0.9% of quarterly sales growth. Company reported the highest sales growth in 15 quarters and momentum continued into January 2026.
Negative Updates
Gross Margin Pressure from Product Mix
Company reported lower gross margins primarily due to product mix shifts (faster growth in value implants and other lower‑margin categories), which constrained gross margin percentage even as gross profit dollars grew.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Quarterly and Year‑over‑Year Sales Growth
Q4 global sales of $3.4 billion, up 7.7% year‑over‑year (5.8% constant currency; +1.9% FX benefit). Acquisitions contributed 0.9% of quarterly sales growth. Company reported the highest sales growth in 15 quarters and momentum continued into January 2026.
Read all positive updates
Company Guidance
Henry Schein's 2026 guidance calls for sales growth of 3–5% versus 2025, non‑GAAP diluted EPS of $5.23–$5.37 (up ~5–8% from 2025 non‑GAAP EPS of $4.97) with an assumed non‑GAAP effective tax rate of ~24%, and adjusted EBITDA to grow in the mid‑single digits versus 2025 adjusted EBITDA of $1.1 billion; the company is not providing GAAP guidance because it cannot reasonably estimate restructuring costs and the guidance excludes restructuring and related items. Management expects earnings to be more heavily weighted to the second half of the year, assumes stable dental and medical end markets, foreign exchange generally consistent with current levels, and mitigable tariff effects, and it assumes lower remeasurement gains in 2026 versus 2025 while pursuing value‑creation initiatives targeted to deliver over $200 million of operating‑income improvement over the next few years (with an annual run‑rate benefit of >$125 million by 2026).Henry Schein Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
54
Neutral
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.18B | 12.67B | 12.34B | 12.65B | 12.40B |
| Gross Profit | 3.84B | 3.77B | 3.65B | 3.65B | 3.67B |
| EBITDA | 1.01B | 941.00M | 877.00M | 977.00M | 1.07B |
| Net Income | 398.00M | 390.00M | 416.00M | 538.00M | 623.91M |
Balance Sheet | |||||
| Total Assets | 11.21B | 10.22B | 10.57B | 8.61B | 8.48B |
| Cash, Cash Equivalents and Short-Term Investments | 156.00M | 122.00M | 171.00M | 117.00M | 118.00M |
| Total Debt | 3.69B | 2.87B | 2.74B | 1.50B | 1.22B |
| Total Liabilities | 6.42B | 5.38B | 5.42B | 3.94B | 3.81B |
| Stockholders Equity | 3.25B | 3.39B | 3.65B | 3.45B | 3.42B |
Cash Flow | |||||
| Free Cash Flow | 573.00M | 661.00M | 353.00M | 506.00M | 630.57M |
| Operating Cash Flow | 712.00M | 848.00M | 500.00M | 602.00M | 709.58M |
| Investing Cash Flow | -477.00M | -430.00M | -1.14B | -276.00M | -677.22M |
| Financing Cash Flow | -111.00M | -510.00M | 701.00M | -315.00M | -332.96M |
Henry Schein Technical Analysis
Negative
72.10
Price Trends
77.37
Negative
75.98
Negative
72.16
Negative
Market Momentum
-1.48
Positive
35.87
Neutral
41.65
Neutral
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 72.1 is below the 20-day moving average (MA) of 75.87, below the 50-day MA of 77.37, and below the 200-day MA of 72.16, indicating a bearish trend. The MACD of -1.48 indicates Positive momentum. The RSI at 35.87 is Neutral, neither overbought nor oversold. The STOCH value of 41.65 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $105.36B | 21.30 | -245.27% | 0.37% | 17.23% | 66.17% | |
72 Outperform | $2.80B | 15.81 | 11.29% | ― | -0.02% | -1.87% | |
65 Neutral | $8.27B | 23.11 | 11.92% | ― | 3.51% | 29.65% | |
65 Neutral | $48.61B | 25.74 | -58.93% | 0.98% | 4.37% | 28.48% | |
64 Neutral | $60.78B | 29.30 | 101.43% | 0.66% | 9.31% | 5.92% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HSIC
Henry Schein
72.10
3.61
5.27%
COR
Cencora
312.45
36.34
13.16%
CAH
Cardinal Health
206.58
70.52
51.83%
MCK
McKesson
860.16
189.82
28.32%
PBH
Prestige Consumer Healthcare
59.22
-26.75
-31.12%
Henry Schein Corporate Events
Business Operations and StrategyExecutive/Board Changes
Henry Schein appoints new CEO amid governance changes
Positive
Jan 12, 2026
On January 10, 2026, Henry Schein’s board appointed Frederick M. Lowery as chief executive officer effective March 2, 2026, expanding the board from 14 to 15 members to add him as a director while long-serving CEO Stanley M. Bergman, who has...
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.