Henry Schein (HSIC) FY2012 results: revenue $8.9 billion, up 4.8% on the year
Henry Schein Inc. (HSIC) reported revenue of $8.9 billion for fiscal 2012, the year ended 29 December 2012, up 4.8% on the year before. Net income was $388 million, up 5.6%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2014.
Revenue
$8.9 billion
+4.8% on the year
FY2008FY2012
Operating margin
6.9%
6.8% a year earlier
FY2008FY2012
Net income
$388 million
+5.6% on the year
FY2008FY2012
Diluted EPS
$2.16
+8.8% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
8,940
8,530
7,527
+4.8%
Cost of revenue
6,432
6,112
5,356
+5.2%
Gross profit
2,508
2,418
2,171
+3.7%
Gross margin
28.0%
28.3%
28.8%
Selling, general and administrative
1,873
1,836
1,637
+2.0%
Operating income
619
582
521
+6.3%
Operating margin
6.9%
6.8%
6.9%
Interest expense
30.9
30.4
33.6
+1.7%
Pre-tax income
604
569
502
+6.1%
Income tax
188
180
160
+4.2%
Effective tax rate
31.1%
31.7%
31.9%
Net income
388
368
326
+5.6%
Net margin
4.3%
4.3%
4.3%
Diluted EPS
$2.16
$1.99
$1.75
+8.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
408
555
395
-26.4%
Capital expenditure
51.2
45.2
39.0
+13.4%
Free cash flow
357
509
356
-30.0%
Free cash flow margin
4.0%
6.0%
4.7%
Cash from investing
-270
-193
-388
Cash from financing
-171
-357
-331
Depreciation and amortisation
125
116
101
+8.1%
Share-based compensation
37.3
36.9
29.9
+1.0%
Buybacks
300
200
57.7
+49.9%
Diluted shares, weighted
180m
185m
187m
-3.0%
Shares outstanding at period end
176m
180m
184m
-2.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,614
2,432
2,412
+7.5%
Non-controlling interest
2.3
1.4
1.3
+62.7%
Debt
533
441
441
+20.8%
Other liabilities
2,185
1,865
1,693
+17.1%
Total liabilities and equity
5,334
4,740
4,547
+12.5%
Fixed assets
273
262
253
+4.3%
Goodwill
1,601
1,497
1,425
+6.9%
Intangible assets
462
410
405
+12.8%
Cash and equivalents
122
147
150
-17.1%
Receivables
1,015
888
886
+14.3%
Inventory
1,204
948
870
+27.0%
Other assets
657
588
558
+11.7%
Total assets
5,334
4,740
4,547
+12.5%
10-K for the year ended 29 December 2012, filed 11 February 2014: the filing.