Henry Schein (HSIC) FY2013 results: revenue $9.6 billion, up 6.9% on the year
Henry Schein Inc. (HSIC) reported revenue of $9.6 billion for fiscal 2013, the year ended 28 December 2013, up 6.9% on the year before. Net income was $432 million, up 11.2%, and diluted earnings per share $2.46. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2014.
Revenue
$9.6 billion
+6.9% on the year
FY2008FY2013
Operating margin
7.1%
6.9% a year earlier
FY2008FY2013
Net income
$432 million
+11.2% on the year
FY2008FY2013
Diluted EPS
$2.46
+14.1% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
9,561
8,940
8,530
+6.9%
Cost of revenue
6,905
6,432
6,112
+7.3%
Gross profit
2,656
2,508
2,418
+5.9%
Gross margin
27.8%
28.0%
28.3%
Selling, general and administrative
1,979
1,873
1,836
+5.6%
Operating income
677
619
582
+9.4%
Operating margin
7.1%
6.9%
6.8%
Interest expense
27.5
30.9
30.4
-10.9%
Pre-tax income
665
604
569
+10.0%
Income tax
191
188
180
+1.6%
Effective tax rate
28.7%
31.1%
31.7%
Net income
432
388
368
+11.2%
Net margin
4.5%
4.3%
4.3%
Diluted EPS
$2.46
$2.16
$1.99
+14.1%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
664
408
555
+62.7%
Capital expenditure
60.2
51.2
45.2
+17.5%
Free cash flow
604
357
509
+69.2%
Free cash flow margin
6.3%
4.0%
6.0%
Cash from investing
n/a
-270
-193
Cash from financing
n/a
-171
-357
Depreciation and amortisation
128
125
116
+2.2%
Share-based compensation
35.5
37.3
36.9
-4.8%
Buybacks
300
300
200
+0.1%
Diluted shares, weighted
175m
180m
185m
-2.5%
Shares outstanding at period end
171m
176m
180m
-2.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,785
2,614
2,432
+6.6%
Non-controlling interest
2.8
2.3
1.4
+23.0%
Debt
485
533
441
-9.0%
Other liabilities
2,351
2,185
1,865
+7.6%
Total liabilities and equity
5,625
5,334
4,740
+5.4%
Fixed assets
276
273
262
+0.9%
Goodwill
1,635
1,601
1,497
+2.1%
Intangible assets
417
462
410
-9.7%
Cash and equivalents
189
122
147
+54.5%
Receivables
1,055
1,015
888
+3.9%
Inventory
1,250
1,204
948
+3.9%
Other assets
802
657
588
+22.2%
Total assets
5,625
5,334
4,740
+5.4%
10-K for the year ended 28 December 2013, filed 11 February 2014: the filing.