Henry Schein (HSIC) FY2015 results: revenue $10.6 billion, up 2.5% on the year
Henry Schein Inc. (HSIC) reported revenue of $10.6 billion for fiscal 2015, the year ended 26 December 2015, up 2.5% on the year before. Net income was $479 million, up 2.8%, and diluted earnings per share $2.85. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2016.
Revenue
$10.6 billion
+2.5% on the year
FY2008FY2015
Operating margin
6.9%
6.9% a year earlier
FY2008FY2015
Net income
$479 million
+2.8% on the year
FY2008FY2015
Diluted EPS
$2.85
+4.6% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
10,630
10,371
9,561
+2.5%
Cost of revenue
7,617
7,460
6,905
+2.1%
Gross profit
3,012
2,911
2,656
+3.5%
Gross margin
28.3%
28.1%
27.8%
Selling, general and administrative
2,238
2,196
1,979
+1.9%
Operating income
734
715
677
+2.6%
Operating margin
6.9%
6.9%
7.1%
Interest expense
26.0
24.1
27.5
+8.1%
Pre-tax income
721
709
665
+1.6%
Income tax
211
216
191
-2.0%
Effective tax rate
29.3%
30.4%
28.7%
Net income
479
466
432
+2.8%
Net margin
4.5%
4.5%
4.5%
Diluted EPS
$2.85
$2.72
$2.46
+4.6%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
616
593
664
+3.9%
Capital expenditure
71.7
82.1
60.2
-12.7%
Free cash flow
544
510
604
+6.5%
Free cash flow margin
5.1%
4.9%
6.3%
Cash from investing
-260
n/a
n/a
Cash from financing
-348
n/a
n/a
Depreciation and amortisation
159
152
128
+4.5%
Share-based compensation
44.6
45.9
35.5
-2.8%
Buybacks
300
300
300
-0.0%
Diluted shares, weighted
168m
171m
175m
-1.9%
Shares outstanding at period end
165m
168m
171m
-1.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,884
2,814
2,785
+2.5%
Non-controlling interest
2.6
2.9
2.8
-10.3%
Debt
810
731
485
+10.7%
Other liabilities
2,838
2,591
2,351
+9.5%
Total liabilities and equity
6,535
6,139
5,625
+6.4%
Fixed assets
318
311
276
+2.2%
Goodwill
1,908
1,884
1,635
+1.2%
Intangible assets
593
644
417
-7.9%
Cash and equivalents
72.1
89.5
189
-19.4%
Receivables
1,230
1,128
1,055
+9.1%
Inventory
1,510
1,328
1,250
+13.7%
Other assets
904
755
802
+19.8%
Total assets
6,535
6,139
5,625
+6.4%
10-K for the year ended 26 December 2015, filed 10 February 2016: the filing.