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Henry Schein, Inc.

henryschein.com

How Do They Make Money?

FY2025 revenue by reportable segment revenue
SegmentShareRevenue
Global Distribution and Value-Added Services
84%
FY2022: 87%
Global Specialty Products
11%
FY2022: 9.1%
Global Technology
5.1%
FY2022: 4.3%

Who Are Their Customers?

A network of trusted advisors serves office-based dental and medical practitioners; the company’s solutions also support dental laboratories, government and institutional health care clinics, and other alternate care sites.

Do Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 4 cents into free cash flow.

Operating income, FY2025
5% of revenue
▲ +5% vs FY2024 ($621M, 5%)
Net income, FY2025
3% of revenue
▲ +2% vs FY2024 ($390M, 3%)
Free cash flow, FY2025
4% of revenue
▼ −18% vs FY2024 ($700M, 6%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 27, 2026
Revenue
▲ +7%
vs $3.2B in Q2 FY2025
Net income
▲ +9%
vs $86M in Q2 FY2025
Global Distribution and Value-Added Services share of revenue vs 84.2% in Q2 FY2025
  • May 22, 2026 William Daniel elected independent board chair; Stanley Bergman retired from the board Daniel succeeded Bergman, who was named chairman emeritus.

Flat. Revenue was $13.2B in FY2025, about the same as the $12.4B of FY2021.

Revenue over time
Global Distribution and Value-Added Services Global Specialty Products Global Technology
$20B$10B$0

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