Explain this page
Arphra AIPlain-English read on Henry Schein, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +29.61% | +28.85% | +29.59% | +29.71% | +29.14% | +29.64% | +30.26% | +29.74% | +29.09% |
| Operating margin | +6.89% | +7.42% | +5.79% | +5.75% | +5.75% | +5.69% | +5.61% | +5.64% | +5.59% |
| EBITDA margin | +8.61% | +7.73% | +7.11% | +7.43% | +7.63% | +7.59% | +7.47% | +7.52% | +7.33% |
| EBIT margin | +6.92% | +6.05% | +5.10% | +5.08% | +5.27% | +5.29% | +5.15% | +5.05% | +5.03% |
| Pre-tax margin | +6.86% | +5.82% | +4.51% | +4.15% | +4.13% | +4.20% | +4.20% | +4.29% | +4.14% |
| Net margin | +5.03% | +4.25% | +3.37% | +3.08% | +3.02% | +3.18% | +3.24% | +3.19% | +3.13% |
| Cost structure | |||||||||
| Cost of revenue / sales | +70.39% | +71.15% | +70.41% | +70.29% | +70.86% | +68.50% | +70.53% | +72.21% | +71.95% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +22.72% | +21.44% | +23.80% | +23.96% | +23.39% | +23.40% | +23.44% | +24.31% | +24.30% |
| Effective tax rate | +23.20% | +23.10% | +21.58% | +24.33% | +23.12% | +23.89% | +23.02% | +23.44% | +23.98% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +13.34% | +11.52% | +8.07% | +8.06% | +8.30% | +8.00% | +8.37% | +8.30% | +8.22% |
| Return on assets (ROA) | +7.36% | +6.25% | +3.93% | +3.82% | +3.55% | +3.73% | +3.80% | +3.71% | +3.85% |
| Return on capital (ROC) | +14.51% | +15.21% | +9.04% | +9.46% | +8.94% | +8.89% | +8.86% | +8.94% | +9.06% |
| Return on invested capital (ROIC) | +10.59% | +8.72% | +5.27% | +5.06% | +4.69% | +4.97% | +5.11% | +5.05% | +5.08% |
| Asset turnover | +146.22% | +146.94% | +116.70% | +124.03% | +117.56% | +117.34% | +117.59% | +116.54% | +122.78% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +5.03% | +4.25% | +3.37% | +3.08% | +3.02% | +3.18% | +3.24% | +3.19% | +3.13% |
| Asset turnover (× revenue / assets) | +146.22% | +146.94% | +116.70% | +124.03% | +117.56% | +117.34% | +117.59% | +116.54% | +122.78% |
| Equity multiplier (× assets / equity) | +181.37% | +184.26% | +205.18% | +211.25% | +233.94% | +214.44% | +220.00% | +223.30% | +213.80% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 1.46 | 1.47 | 1.17 | 1.24 | 1.18 | 1.17 | 1.18 | 1.17 | 1.23 |
| Fixed-asset turnover | 17.95 | 18.96 | 14.99 | 15.38 | 14.30 | — | — | — | — |
| Inventory turnover | 4.69 | 4.58 | 4.79 | 4.92 | 4.67 | — | — | — | — |
| Receivables turnover | 8.54 | 8.77 | 6.62 | 8.55 | 7.99 | — | — | — | — |
| Payables turnover | 8.28 | 8.96 | 8.52 | 9.26 | 8.10 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 42.74 | 41.62 | 55.11 | 42.68 | 45.71 | — | — | — | — |
| Days inventory outstanding (DIO) | 77.82 | 79.63 | 76.25 | 74.16 | 78.22 | — | — | — | — |
| Days payables outstanding (DPO) | 44.07 | 40.73 | 42.85 | 39.42 | 45.09 | — | — | — | — |
| Cash conversion cycle | 76.48 | 80.52 | 88.51 | 77.43 | 78.84 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.14 | 1.12 | 1.20 | 2.17 | 1.79 | 1.65 | 1.68 | 1.71 | 1.69 |
| FCF / Net income | 1.01 | 0.94 | 0.85 | 1.69 | 1.44 | 1.28 | 1.27 | 1.33 | 1.36 |
| FCF margin | +5.08% | +4.00% | +2.86% | +5.22% | +4.35% | +4.06% | +4.11% | +4.24% | +4.24% |
| OCF margin | +5.72% | +4.76% | +4.05% | +6.69% | +5.40% | +5.25% | +5.45% | +5.45% | +5.28% |
| CapEx / Revenue | +0.64% | +0.76% | +1.19% | +1.48% | +1.05% | +1.26% | +1.28% | +1.27% | +1.24% |
| CapEx / D&A | 0.38 | 0.45 | 0.66 | 0.70 | 0.45 | — | — | — | — |
| Stock-based comp / Revenue | +0.63% | +0.43% | +0.32% | +0.31% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 4.45 | 3.91 | 3.16 | 3.05 | 3.27 | 5.35 | 5.91 | 6.50 | 6.74 |
| EPS · basic | 4.51 | 3.95 | 3.18 | 3.07 | 3.29 | 5.32 | 5.92 | 6.62 | 6.74 |
| Book value / share | 32.98 | 33.91 | 39.11 | 37.85 | 39.39 | 44.89 | 45.68 | 46.64 | 48.14 |
| Tangible BV / share | 8.14 | 8.65 | 2.75 | -0.57 | -3.59 | 44.89 | 45.68 | 46.64 | 48.14 |
| Sales / share | 87.47 | 91.81 | 93.66 | 99.18 | 108.32 | 112.96 | 118.17 | 121.38 | 126.37 |
| Operating CF / share | 5.01 | 4.37 | 3.80 | 6.64 | 5.85 | 5.94 | 6.44 | 6.62 | 6.67 |
| Free cash flow / share | 4.45 | 3.67 | 2.68 | 5.17 | 4.71 | 4.59 | 4.85 | 5.15 | 5.36 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +1.98% | -2.44% | +2.71% | +4.03% | +4.27% | +3.76% | +3.74% | +3.62% | +2.69% |
| Gross profit · YoY | — | -0.63% | +0.05% | +3.12% | +2.05% | +6.05% | +5.93% | +1.95% | +1.38% | +2.46% |
| Profit | ||||||||||
| Operating income · YoY | — | +9.73% | -23.88% | +2.10% | +3.98% | +3.11% | +2.39% | +4.28% | +2.72% | +0.04% |
| EBITDA · YoY | — | -8.49% | -10.24% | +7.30% | +6.91% | +3.69% | +2.19% | +4.38% | +1.01% | +0.64% |
| Net income · YoY | — | -13.77% | -22.68% | -6.25% | +2.05% | +9.74% | +5.65% | +2.22% | +1.81% | -3.22% |
| Operating | ||||||||||
| EBIT · YoY | — | -10.85% | -17.78% | +2.38% | +7.92% | +4.64% | +1.02% | +1.67% | +3.19% | -1.33% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -12.13% | -19.18% | -3.48% | +7.21% | +63.50% | +10.50% | +9.95% | +3.76% | +5.33% |
| EPS · basic · YoY | — | -12.42% | -19.49% | -3.46% | +7.17% | +61.57% | +11.39% | +11.78% | +1.84% | +5.15% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $1.22B | $1.5B | $2.74B | $2.87B | $3.69B | $3.33B | $3.52B | $3.65B | $3.62B |
| Net debt | $1.1B | $1.38B | $2.57B | $2.75B | $3.53B | $3.17B | $3.35B | $3.47B | $3.44B |
| Net debt / EBITDA | 1.03 | 1.41 | 2.93 | 2.92 | 3.51 | 3.04 | 3.15 | 3.12 | 3.06 |
| Debt / equity | 0.26 | 0.32 | 0.53 | 0.59 | 0.77 | 0.61 | 0.64 | 0.64 | 0.62 |
| Debt / assets | +14.35% | +17.39% | +25.92% | +28.09% | +32.88% | +28.43% | +29.04% | +28.77% | +28.96% |
| Equity / assets | +55.14% | +54.27% | +48.74% | +47.34% | +42.75% | +46.63% | +45.45% | +44.78% | +46.77% |
| Coverage | |||||||||
| EBITDA / interest expense | 38.68 | 22.20 | 10.08 | 7.18 | 6.71 | 7.71 | 7.62 | 7.88 | 7.61 |
| Operating income / interest | 30.97 | 21.32 | 8.21 | 5.56 | 5.05 | 5.77 | 5.72 | 5.91 | 5.80 |
| Interest expense | $27.6M | $44M | $87M | $131M | $150M | $135.34M | $139.84M | $141.22M | $147.72M |
| Liquidity | |||||||||
| Current ratio | 1.67 | 1.79 | 1.67 | 1.42 | 1.38 | — | — | — | — |
| Quick ratio | 0.68 | 0.70 | 0.76 | 0.57 | 0.56 | — | — | — | — |
| Cash ratio | 0.05 | 0.05 | 0.06 | 0.04 | 0.05 | — | — | — | — |
| Working capital | $1.54B | $1.76B | $1.81B | $1.18B | $1.24B | — | — | — | — |
| Working capital / revenue | +12.39% | +13.95% | +14.63% | +9.31% | +9.38% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).