Henry Schein (HSIC)
Market Price (4/21/2026): $79.185 | Market Cap: $9.3 BilSector: Health Care | Industry: Health Care Distributors
Henry Schein (HSIC)
Market Price (4/21/2026): $79.185Market Cap: $9.3 BilSector: Health CareIndustry: Health Care Distributors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldFCF Yield is 5.6% Stock buyback supportStock Buyback 3Y Total is 1.5 Bil Low stock price volatilityVol 12M is 27% Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Biotechnology & Genomics. Themes include Telehealth Platforms, Health Data Analytics, Show more. | Weak multi-year price returns2Y Excs Rtn is -29%, 3Y Excs Rtn is -76% | Key risksHSIC key risks include [1] decreased sales from the lingering effects of a significant cyberattack and [2] weakened demand and loss of treatment exclusivity in its key dental segment. |
| Attractive yieldFCF Yield is 5.6% |
| Stock buyback supportStock Buyback 3Y Total is 1.5 Bil |
| Low stock price volatilityVol 12M is 27% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine, and Biotechnology & Genomics. Themes include Telehealth Platforms, Health Data Analytics, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -29%, 3Y Excs Rtn is -76% |
| Key risksHSIC key risks include [1] decreased sales from the lingering effects of a significant cyberattack and [2] weakened demand and loss of treatment exclusivity in its key dental segment. |
Qualitative Assessment
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Henry Schein (HSIC) stock has gained about 5% since 12/31/2025 because of the following key factors:
1. Mixed Q4 2025 Financial Performance and Steady 2026 Guidance.
Henry Schein reported mixed financial results for the fourth quarter of 2025, which likely contributed to the stock's flat movement. The company surpassed revenue expectations with sales increasing 7.7% year-over-year to $3.44 billion, and also beat non-GAAP diluted earnings per share (EPS) estimates, reporting $1.34 against a $1.30 forecast. However, GAAP diluted EPS of $0.85 fell short of analyst expectations of $1.02, and a decline in gross margin was noted due to an unfavorable mix in its distribution and specialty products businesses. Looking ahead, the company introduced 2026 non-GAAP diluted EPS guidance in the range of $5.23 to $5.37, with total sales growth projected at 3-5%, indicating a steady but not remarkably accelerating outlook. This combination of mixed past performance and modest forward guidance likely balanced investor sentiment, preventing significant upward or downward shifts.
2. Strategic Restructuring and Leadership Transition.
The company is undergoing significant strategic changes, including a leadership transition and a multi-year value creation program. Fred Lowery was appointed as the new CEO, effective March 2, 2026, and the Board of Directors is set to reduce in size from 15 to 10 members following the May 21 Annual Meeting, with Chairman Stanley M. Bergman retiring. Henry Schein has also initiated a value creation plan aimed at achieving over $200 million in operating profit improvements by optimizing pricing strategies and consolidating back-office functions. Additionally, the company is strategically focusing on higher-margin operations, such as digital dentistry and cloud-based practice management software. While these initiatives are viewed as positive for long-term growth and efficiency, the short-term market reaction may reflect a "wait-and-see" approach due to the inherent uncertainties associated with leadership changes and the initial investment required for such restructuring efforts.
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1. Mixed Q4 2025 Financial Performance and Steady 2026 Guidance.
Henry Schein reported mixed financial results for the fourth quarter of 2025, which likely contributed to the stock's flat movement. The company surpassed revenue expectations with sales increasing 7.7% year-over-year to $3.44 billion, and also beat non-GAAP diluted earnings per share (EPS) estimates, reporting $1.34 against a $1.30 forecast. However, GAAP diluted EPS of $0.85 fell short of analyst expectations of $1.02, and a decline in gross margin was noted due to an unfavorable mix in its distribution and specialty products businesses. Looking ahead, the company introduced 2026 non-GAAP diluted EPS guidance in the range of $5.23 to $5.37, with total sales growth projected at 3-5%, indicating a steady but not remarkably accelerating outlook. This combination of mixed past performance and modest forward guidance likely balanced investor sentiment, preventing significant upward or downward shifts.
2. Strategic Restructuring and Leadership Transition.
The company is undergoing significant strategic changes, including a leadership transition and a multi-year value creation program. Fred Lowery was appointed as the new CEO, effective March 2, 2026, and the Board of Directors is set to reduce in size from 15 to 10 members following the May 21 Annual Meeting, with Chairman Stanley M. Bergman retiring. Henry Schein has also initiated a value creation plan aimed at achieving over $200 million in operating profit improvements by optimizing pricing strategies and consolidating back-office functions. Additionally, the company is strategically focusing on higher-margin operations, such as digital dentistry and cloud-based practice management software. While these initiatives are viewed as positive for long-term growth and efficiency, the short-term market reaction may reflect a "wait-and-see" approach due to the inherent uncertainties associated with leadership changes and the initial investment required for such restructuring efforts.
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Stock Movement Drivers
Fundamental Drivers
The 4.7% change in HSIC stock from 12/31/2025 to 4/20/2026 was primarily driven by a 2.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 12312025 | 4202026 | Change |
|---|---|---|---|
| Stock Price ($) | 75.58 | 79.15 | 4.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,938 | 13,184 | 1.9% |
| Net Income Margin (%) | 3.0% | 3.0% | -0.1% |
| P/E Multiple | 23.2 | 23.3 | 0.4% |
| Shares Outstanding (Mil) | 120 | 117 | 2.4% |
| Cumulative Contribution | 4.7% |
Market Drivers
12/31/2025 to 4/20/2026| Return | Correlation | |
|---|---|---|
| HSIC | 4.7% | |
| Market (SPY) | -5.4% | 46.4% |
| Sector (XLV) | -4.8% | 39.8% |
Fundamental Drivers
The 19.3% change in HSIC stock from 9/30/2025 to 4/20/2026 was primarily driven by a 12.2% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4202026 | Change |
|---|---|---|---|
| Stock Price ($) | 66.37 | 79.15 | 19.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,773 | 13,184 | 3.2% |
| Net Income Margin (%) | 3.0% | 3.0% | -0.9% |
| P/E Multiple | 20.8 | 23.3 | 12.2% |
| Shares Outstanding (Mil) | 122 | 117 | 3.9% |
| Cumulative Contribution | 19.3% |
Market Drivers
9/30/2025 to 4/20/2026| Return | Correlation | |
|---|---|---|
| HSIC | 19.3% | |
| Market (SPY) | -2.9% | 27.1% |
| Sector (XLV) | 6.4% | 36.0% |
Fundamental Drivers
The 15.6% change in HSIC stock from 3/31/2025 to 4/20/2026 was primarily driven by a 6.7% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4202026 | Change |
|---|---|---|---|
| Stock Price ($) | 68.49 | 79.15 | 15.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,673 | 13,184 | 4.0% |
| Net Income Margin (%) | 3.1% | 3.0% | -1.9% |
| P/E Multiple | 21.9 | 23.3 | 6.7% |
| Shares Outstanding (Mil) | 125 | 117 | 6.1% |
| Cumulative Contribution | 15.6% |
Market Drivers
3/31/2025 to 4/20/2026| Return | Correlation | |
|---|---|---|
| HSIC | 15.6% | |
| Market (SPY) | 16.3% | 43.2% |
| Sector (XLV) | 2.3% | 44.6% |
Fundamental Drivers
The -2.9% change in HSIC stock from 3/31/2023 to 4/20/2026 was primarily driven by a -29.0% change in the company's Net Income Margin (%).| (LTM values as of) | 3312023 | 4202026 | Change |
|---|---|---|---|
| Stock Price ($) | 81.54 | 79.15 | -2.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,647 | 13,184 | 4.2% |
| Net Income Margin (%) | 4.3% | 3.0% | -29.0% |
| P/E Multiple | 20.3 | 23.3 | 14.9% |
| Shares Outstanding (Mil) | 134 | 117 | 14.2% |
| Cumulative Contribution | -2.9% |
Market Drivers
3/31/2023 to 4/20/2026| Return | Correlation | |
|---|---|---|
| HSIC | -2.9% | |
| Market (SPY) | 63.3% | 32.5% |
| Sector (XLV) | 19.2% | 38.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HSIC Return | 16% | 3% | -5% | -9% | 9% | 4% | 18% |
| Peers Return | 28% | -24% | 15% | -18% | 12% | 10% | 12% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 90% |
Monthly Win Rates [3] | |||||||
| HSIC Win Rate | 58% | 50% | 42% | 42% | 50% | 50% | |
| Peers Win Rate | 53% | 45% | 58% | 47% | 57% | 65% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HSIC Max Drawdown | -8% | -15% | -23% | -16% | -10% | -5% | |
| Peers Max Drawdown | -5% | -41% | -16% | -28% | -25% | -5% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: XRAY, NVST, ALGN, IDXX, MCK. See HSIC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/20/2026 (YTD)
How Low Can It Go
| Event | HSIC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -32.7% | -25.4% |
| % Gain to Breakeven | 48.6% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -41.4% | -33.9% |
| % Gain to Breakeven | 70.7% | 51.3% |
| Time to Breakeven | 295 days | 148 days |
| 2018 Correction | ||
| % Loss | -32.0% | -19.8% |
| % Gain to Breakeven | 47.0% | 24.7% |
| Time to Breakeven | 720 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -47.8% | -56.8% |
| % Gain to Breakeven | 91.5% | 131.3% |
| Time to Breakeven | 764 days | 1,480 days |
Compare to XRAY, NVST, ALGN, IDXX, MCK
In The Past
Henry Schein's stock fell -32.7% during the 2022 Inflation Shock from a high on 4/13/2022. A -32.7% loss requires a 48.6% gain to breakeven.
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About Henry Schein (HSIC)
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 segments, Health Care Distribution, and Technology and Value-Added Services. The Health Care Distribution segment offers dental products, including infection-control products, handpieces, preventatives, impression materials, composites, anesthetics, teeth, dental implants, gypsum, acrylics, articulators, abrasives, dental chairs, delivery units and lights, X-ray supplies and equipment, personal protective equipment, and high-tech and digital restoration equipment, as well as equipment repair services. This segment also provides medical products comprising branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, X-ray products, equipment, and vitamins. The Technology and Value-Added Services segment offers software, technology, and other value-added services that include practice management software systems for dental and medical practitioners. This segment also provides value-added practice solutions, which comprise financial services on a non-recourse basis, e-services, practice technology, network, and hardware services, as well as continuing education services for practitioners, and consulting and other services. Henry Schein, Inc. was founded in 1932 and is headquartered in Melville, New York.
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Here are 1-3 brief analogies for Henry Schein (HSIC):
- Sysco for healthcare practices
- Grainger for medical and dental offices
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- Dental Supplies & Equipment: Provides a comprehensive range of products for dental practices, including infection control items, handpieces, preventatives, impression materials, composites, anesthetics, dental implants, and X-ray and digital restoration equipment.
- Medical Supplies & Equipment: Offers products for physician practices, such as branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control items, and X-ray equipment.
- Equipment Repair Services: Delivers repair and maintenance services for various dental and medical equipment.
- Practice Management Software: Develops and provides software systems for managing operations in dental and medical practices.
- Financial Services: Offers financial solutions on a non-recourse basis to healthcare practitioners.
- E-services & Practice Technology Solutions: Provides digital services, network management, hardware support, and other technology solutions to optimize practice operations.
- Continuing Education Services: Offers educational programs for ongoing professional development of healthcare practitioners.
- Consulting Services: Provides advisory and other professional services to healthcare practices.
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Henry Schein (HSIC) sells primarily to other companies and organizations within the healthcare sector. Its major customer categories include:
- Dental practitioners and laboratories
- Physician practices
- Government, institutional health care clinics, and other alternate care clinics
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```htmlFrederick M. Lowery – Chief Executive Officer
Frederick M. Lowery joined Henry Schein, Inc. on March 2, 2026, when he was named Chief Executive Officer and a member of the Board of Directors. He succeeded Stanley M. Bergman. Mr. Lowery has extensive experience in growing distribution and owned product businesses, including manufacturing, research and development, marketing, and sales functions. Prior to joining Henry Schein as CEO, Mr. Lowery held various leadership positions at Thermo Fisher Scientific.
Ronald N. South – Senior Vice President, Chief Financial Officer
Ronald N. South has been with Henry Schein, Inc. since 2008 and in his current position as Senior Vice President and Chief Financial Officer (and principal financial officer and principal accounting officer) since April 2022. He is also a member of the Executive Management Committee and on the board of directors of the Henry Schein Cares Foundation, Inc. Previously, Mr. South served as Henry Schein's Vice President, Corporate Finance from 2008 through April 2022 and Chief Accounting Officer from 2013 through April 2022, responsible for the Company's internal and external financial reporting and corporate tax functions. Prior to joining Henry Schein in 2008 as Vice President, Corporate Finance, Mr. South held senior finance leadership roles at Bristol-Myers Squibb, audit leadership at PepsiCo, and client advisory at PricewaterhouseCoopers. He is a Certified Public Accountant (CPA).
Michael S. Ettinger – Executive Vice President and Chief Operating Officer
Michael S. Ettinger has been with Henry Schein, Inc. since 1994, and in his current position as Executive Vice President and Chief Operating Officer of the Company since 2022. He is also a member of the Executive Management Committee. As Executive Vice President and Chief Operating Officer, Mr. Ettinger oversees the Office of the CEO (including Henry Schein Cares, the Company's global corporate social responsibility program), as well as the Company's corporate affairs, corporate communications, legal, compliance and regulatory, global human resources, global security, global supply chain, and information technology functions. Prior to his current position, Mr. Ettinger served in various roles including Senior Vice President, Corporate & Legal Affairs and Chief of Staff, Secretary (2015-2022) and General Counsel. Before joining the Company, Mr. Ettinger served as Senior Associate with Bower & Gardner and as a member of the Tax Department at Arthur Andersen.
Andrea Albertini – Chief Executive Officer, Global Distribution and Technology
Andrea Albertini served as Chief Executive Officer, International Distribution Group from February 2023 to January 2025 and as President, International Distribution Group from 2021 to February 2023. Previously, he was President of the EMEA Dental Distribution Group from 2019 to 2021 and Vice President of International Dental Equipment from 2013 to 2019. Before joining Henry Schein, Mr. Albertini held leadership positions at Cefla and Castellini, both leading global manufacturers of dental and medical equipment and instruments. He brings more than 20 years of experience in the health care industry.
Mark E. Mlotek – Executive Vice President, Chief Strategic Officer
Mark E. Mlotek is an Executive Vice President and Chief Strategic Officer at Henry Schein, Inc. He has also served as VP/Secretary/General Counsel and Senior Vice President of Business Development at Henry Schein, Inc., and was a Partner at Feit & Ahrens. Mr. Mlotek is a Board Member at Provet Holdings Ltd and Henry Schein, Inc., and a member of the New York State Bar association. He studied at Columbia Law School, New York University School of Law, and New York City College.
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Key Risks to Henry Schein's Business (HSIC)
Henry Schein (HSIC) faces several key risks to its business operations and financial performance.
- Cybersecurity Risks: A significant and ongoing risk for Henry Schein is its vulnerability to cybersecurity threats. The company experienced a major cybersecurity incident in October 2023 that primarily affected its North American and European dental and medical distribution businesses. This incident led to the temporary disruption of some business operations, including taking certain systems offline, and resulted in decreased sales, particularly to episodic customers. Henry Schein has continued to experience residual impacts from this event, which has affected its financial performance and is expected to incur costs in 2024.
- Macroeconomic Uncertainties: Henry Schein's business is susceptible to global economic uncertainties. Factors such as exchange rate fluctuations and rising costs and expenses adversely impact the company's operational results. Sustained macroeconomic pressure can make it challenging for the company to control its cost of revenues and operating expenses.
- Dependence on Key Suppliers: The company relies on a limited number of third-party suppliers for the manufacture and supply of a significant portion of its products and raw materials. This dependence creates a risk of supply chain disruptions, which could impact product availability and the company's ability to meet customer demand, or if relationships with these key suppliers deteriorate.
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- The increasing market penetration and expansion of large-scale e-commerce platforms and online marketplaces (e.g., Amazon Business) into the medical and dental supply distribution sector. These platforms offer a broad range of products, often competitive pricing, and streamlined procurement processes, directly challenging Henry Schein's traditional distribution model by providing alternative, potentially more convenient and lower-cost, sourcing channels for healthcare practitioners. This shift can put pressure on Henry Schein's market share and profit margins in its core Health Care Distribution segment.
- The rapid evolution and consolidation within healthcare technology, particularly the rise of cloud-native, AI-powered, and highly integrated practice management and electronic health record (EHR) platforms. Newer entrants or larger tech companies are developing comprehensive digital ecosystems that offer superior integration, efficiency, and user experience across practice management, patient engagement, and financial services. This trend poses a threat to Henry Schein's existing suite of technology and value-added services, as its offerings may become less competitive if they do not continually match or exceed the advanced capabilities and seamless integration provided by these emerging platforms.
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Henry Schein (HSIC) operates within several substantial addressable markets for its diverse range of healthcare products and services.
Health Care Distribution Segment
- Dental Products: The global dental market was valued at approximately USD 40 billion. More specifically, the global dental care products market was estimated at USD 60.8 billion in 2025. In the U.S., the dental equipment market alone accounted for USD 2.92 billion in 2024.
- Medical Products: The global medical supplies market was valued at USD 184.95 billion in 2024. The broader global medical devices market, which includes many of the products Henry Schein distributes, was valued at USD 572.31 billion in 2025.
Technology and Value-Added Services Segment
- Practice Management Software: The global dental practice management software market size was valued at USD 2.86 billion in 2024. For medical practitioners, the global medical practice management software market was valued at USD 8.87 billion in 2024.
- Overall Practice Management Systems (including software and other value-added services): The global practice management system market, which encompasses software and related services for both dental and medical practices, was estimated at USD 14.45 billion in 2024.
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Henry Schein (HSIC) is anticipated to drive future revenue growth over the next two to three years through several key strategic initiatives and market expansions. Here are 4 expected drivers of future revenue growth for Henry Schein: * Strategic Acquisitions: Acquisitions are a consistent driver of sales growth for Henry Schein. Acquisitions completed in 2023 and announced acquisitions are expected to contribute to 2024 sales growth. For instance, the acquisition of Acentus in January 2025 is specifically noted for strengthening homecare medical supplies. The company also plans to pursue further acquisitions within its global specialty products segment. * Growth in Global Specialty Products: This segment, encompassing dental implants, endodontics, and biomaterials, has shown robust performance, with sales growing 14.6% in Q4 2025. Henry Schein's strategy aims for high-growth, high-margin businesses, including specialty dental products, to contribute over 50% of its operating income by the end of 2027. * Expansion of Technology and Value-Added Services: The company's Technology Group, including Henry Schein One, is experiencing accelerated adoption of cloud-based software and newly launched solutions, with sales increasing 8.4% in Q4 2025. Key initiatives include the integration of artificial intelligence (AI) solutions with Amazon Web Services into its practice management platforms like Dentrix Ascend and Dentrix, which is expected to drive growth in recurring software-as-a-service (SaaS) subscription revenue and transactional services. * Growth in Homecare Medical Solutions: Henry Schein is actively expanding its medical business into the at-home care market, a strategic focus reinforced by acquisitions. The home solutions business has demonstrated strong growth, contributing to overall medical distribution sales. The acquisition of Acentus, a specialist in Continuous Glucose Monitors, is a key move to strengthen its offerings in this growing market.AI Analysis | Feedback
Share Repurchases
- In 2025, Henry Schein repurchased approximately 12.1 million shares of common stock for a total of $850 million.
- As of year-end 2025, the company had $780 million authorized and available for future stock repurchases.
- For the full year 2024, Henry Schein repurchased approximately 5.4 million shares of its common stock, totaling $385 million.
Share Issuance
- Henry Schein's shares outstanding have consistently decreased over the last three to five years, indicating that repurchases have outweighed any issuances. For instance, shares outstanding as of September 30, 2025, declined by 4.74% year-over-year.
- The company issues restricted stock units (RSUs) and performance stock units (PSUs) as part of compensation plans for executives and directors, such as awards granted in March 2026 to the Chief Operating Officer and Chief Financial Officer.
Inbound Investments
- KKR made a significant strategic investment in Henry Schein, becoming its largest non-index shareholder. An agreement in November 2025 granted KKR the right to increase its HSIC stock ownership up to 19.9%.
- As of March 2026, KKR disclosed a 16.4% stake in Henry Schein, which included swap exposure.
Outbound Investments
- Henry Schein expanded its homecare medical supplies market presence with the acquisition of Acentus in January 2025, building on the 2023 acquisition of a majority ownership in Shield Healthcare, Inc., and the 2021 acquisition of Prism Medical Products, LLC.
- The company made strategic acquisitions in the dental sector, including S.I.N Implant System in Brazil (2023) and Biotech Dental in France (2023), alongside Midway Dental Supply in the Midwestern U.S. (2022).
- Henry Schein also invested in dental technology solutions, acquiring an 80% ownership in Jarvis Analytics (2021) and a 70% ownership in eAssist Dental Solutions (2021).
Capital Expenditures
- In the trailing twelve months ending Q4 2025, capital expenditures were approximately $139.0 million, primarily funding long-term assets and infrastructure.
- Capital expenditures for the fourth quarter of 2025 amounted to $43.0 million.
- In the fourth quarter of 2024, capital expenditures were $45.0 million.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 135.41 |
| Mkt Cap | 11.5 |
| Rev LTM | 4,169 |
| Op Inc LTM | 672 |
| FCF LTM | 506 |
| FCF 3Y Avg | 536 |
| CFO LTM | 653 |
| CFO 3Y Avg | 696 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.2% |
| Rev Chg 3Y Avg | 2.3% |
| Rev Chg Q | 9.6% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Inc Chg LTM | 24.8% |
| Op Inc Chg 3Y Avg | -0.3% |
| Op Mgn LTM | 7.9% |
| Op Mgn 3Y Avg | 7.7% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 8.3% |
| CFO/Rev 3Y Avg | 10.4% |
| FCF/Rev LTM | 6.2% |
| FCF/Rev 3Y Avg | 7.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 11.5 |
| P/S | 1.2 |
| P/Op Inc | 18.4 |
| P/EBIT | 19.8 |
| P/E | 28.9 |
| P/CFO | 14.8 |
| Total Yield | 2.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 5.3% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 10.1% |
| 3M Rtn | 3.5% |
| 6M Rtn | 16.5% |
| 12M Rtn | 23.0% |
| 3Y Rtn | -17.5% |
| 1M Excs Rtn | 1.2% |
| 3M Excs Rtn | 1.1% |
| 6M Excs Rtn | 12.0% |
| 12M Excs Rtn | -10.2% |
| 3Y Excs Rtn | -87.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global Distribution and Value-Added Services | 10,760 | 10,525 | |||
| Global Specialty Products | 1,446 | 1,212 | |||
| Global Technology | 630 | 602 | |||
| Eliminations | -163 | ||||
| Health care distribution | 11,924 | 11,754 | 9,530 | ||
| Technology and value-added services | 723 | 647 | 514 | ||
| Corporate transition services agreement revenues | 75 | ||||
| Total | 12,673 | 12,339 | 12,647 | 12,401 | 10,119 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global Distribution and Value-Added Services | 696 | 665 | |||
| Global Specialty Products | 178 | 175 | |||
| Global Technology | 152 | 142 | |||
| Cyber incident-insurance proceeds, net of third-party advisory expenses | 31 | ||||
| Impairment of intangible assets | 0 | ||||
| Costs associated with shareholder advisory matters and select value creation consulting costs | -2 | ||||
| Litigation settlements | -6 | ||||
| Impairment of capitalized assets | -12 | ||||
| Change in contingent consideration | -45 | ||||
| Corporate, net | -77 | -92 | |||
| Restructuring and related costs | -110 | ||||
| Acquisition intangible amortization | -184 | ||||
| Adjustments | -275 | ||||
| Health care distribution | 619 | 727 | 436 | ||
| Technology and value-added services | 128 | 125 | 99 | ||
| Total | 621 | 615 | 747 | 852 | 535 |
Price Behavior
Price Behavior
| Market Price | $79.15 | |
| Market Cap ($ Bil) | 9.3 | |
| First Trading Date | 11/03/1995 | |
| Distance from 52W High | -5.0% | |
| 50 Days | 200 Days | |
| DMA Price | $77.05 | $72.42 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 2.7% | 9.3% |
| 3M | 1YR | |
| Volatility | 26.7% | 27.2% |
| Downside Capture | 0.25 | 0.24 |
| Upside Capture | 72.82 | 61.25 |
| Correlation (SPY) | 46.1% | 33.3% |
HSIC Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.91 | 1.05 | 1.03 | 0.61 | 0.65 | 0.56 |
| Up Beta | 1.73 | 2.12 | 2.05 | 1.29 | 0.70 | 0.65 |
| Down Beta | 0.66 | 1.22 | 1.21 | 0.55 | 0.55 | 0.44 |
| Up Capture | 48% | 102% | 76% | 63% | 54% | 20% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 21 | 30 | 64 | 124 | 360 |
| Down Capture | 123% | 67% | 73% | 39% | 77% | 85% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 21 | 32 | 61 | 125 | 386 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HSIC | |
|---|---|---|---|---|
| HSIC | 26.9% | 27.4% | 0.86 | - |
| Sector ETF (XLV) | 9.7% | 16.0% | 0.39 | 39.6% |
| Equity (SPY) | 23.9% | 12.7% | 1.53 | 33.7% |
| Gold (GLD) | 44.9% | 27.4% | 1.34 | -7.3% |
| Commodities (DBC) | 23.7% | 16.2% | 1.32 | -4.5% |
| Real Estate (VNQ) | 18.0% | 13.7% | 0.96 | 42.5% |
| Bitcoin (BTCUSD) | -8.3% | 42.7% | -0.09 | 11.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HSIC | |
|---|---|---|---|---|
| HSIC | 2.9% | 25.6% | 0.10 | - |
| Sector ETF (XLV) | 6.1% | 14.6% | 0.24 | 45.7% |
| Equity (SPY) | 10.7% | 17.1% | 0.48 | 41.4% |
| Gold (GLD) | 22.2% | 17.8% | 1.02 | 5.9% |
| Commodities (DBC) | 11.4% | 18.8% | 0.50 | 12.6% |
| Real Estate (VNQ) | 4.4% | 18.8% | 0.14 | 42.0% |
| Bitcoin (BTCUSD) | 4.0% | 56.4% | 0.29 | 14.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HSIC | |
|---|---|---|---|---|
| HSIC | 2.1% | 27.4% | 0.11 | - |
| Sector ETF (XLV) | 9.7% | 16.5% | 0.48 | 51.5% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 49.4% |
| Gold (GLD) | 14.0% | 15.9% | 0.73 | 1.0% |
| Commodities (DBC) | 8.4% | 17.6% | 0.40 | 17.0% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 45.4% |
| Bitcoin (BTCUSD) | 68.4% | 66.9% | 1.07 | 9.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/24/2026 | 3.5% | 1.0% | -8.1% |
| 11/4/2025 | 10.8% | 12.9% | 13.5% |
| 8/5/2025 | -7.4% | -5.6% | -4.1% |
| 5/5/2025 | 2.0% | 5.1% | 8.1% |
| 1/29/2025 | 0.2% | 2.6% | -9.6% |
| 11/5/2024 | -4.6% | -5.6% | 3.0% |
| 8/6/2024 | -8.1% | -2.4% | -0.2% |
| 5/7/2024 | 3.9% | 6.7% | 1.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 12 | 11 |
| # Negative | 12 | 12 | 13 |
| Median Positive | 3.7% | 6.2% | 8.1% |
| Median Negative | -4.1% | -4.4% | -6.9% |
| Max Positive | 10.8% | 12.9% | 20.5% |
| Max Negative | -8.1% | -8.0% | -12.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/28/2023 | 10-Q |
| 06/30/2023 | 08/07/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Non-GAAP diluted EPS | 5.23 | 5.3 | 5.37 | 7.7% | Higher New | Guidance: 4.92 for 2025 | |
| 2026 Total sales growth | 3.0% | 4.0% | 5.0% | 14.3% | 0.5% | Higher New | Guidance: 3.5% for 2025 |
| 2026 Adjusted EBITDA growth | Higher New | Guidance: 5.0% for 2025 | |||||
Prior: Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Non-GAAP diluted EPS | 4.88 | 4.92 | 4.96 | 1.0% | Raised | Guidance: 4.87 for 2025 | |
| 2025 Total sales growth | 3.0% | 3.5% | 4.0% | 16.7% | 0.5% | Raised | Guidance: 3.0% for 2025 |
| 2025 Adjusted EBITDA growth | 5.0% | 0 | 0 | Affirmed | Guidance: 5.0% for 2025 | ||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Daniel, William K | The Reporting Person and spouse as Co-Trustees of a trust for the benefit of the Reporting Person. | Buy | 8112025 | 67.08 | 10,000 | 670,800 | 670,800 | Form | |
| 2 | Laskawy, Philip A | Direct | Sell | 3202025 | 71.04 | 2,604 | 184,999 | 1,762,246 | Form | |
| 3 | Connett, Bradford C | CEO, NA Distribution Group | Direct | Sell | 3202025 | 71.15 | 4,036 | 287,161 | 4,460,251 | Form |
| 4 | Kuehn, Kurt P | Direct | Sell | 3062025 | 71.55 | 2,787 | 199,396 | 1,122,326 | Form | |
| 5 | Bergman, Stanley M | Chairman, CEO | Spouse | Sell | 3032026 | 81.31 | 43,812 | 3,562,354 | 31,207,022 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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