Henry Schein (HSIC) FY2017 results: revenue $8.9 billion, down 23.2% on the year
Henry Schein Inc. (HSIC) reported revenue of $8.9 billion for fiscal 2017, the year ended 30 December 2017, down 23.2% on the year before. Net income was $406 million, down 19.8%, and diluted earnings per share $2.57. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$8.9 billion
-23.2% on the year
FY2010FY2017
Operating margin
7.5%
6.7% a year earlier
FY2010FY2017
Net income
$406 million
-19.8% on the year
FY2010FY2017
Diluted EPS
$2.57
-17.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
8,883
11,572
10,630
-23.2%
Cost of revenue
6,137
8,338
7,617
-26.4%
Gross profit
2,747
3,226
3,012
-14.9%
Gross margin
30.9%
27.9%
28.3%
Selling, general and administrative
2,072
2,409
2,238
-14.0%
Operating income
670
772
734
-13.2%
Operating margin
7.5%
6.7%
6.9%
Interest expense
51.1
31.9
26.0
+60.1%
Pre-tax income
630
756
721
-16.7%
Income tax
309
218
211
+41.8%
Effective tax rate
49.1%
28.8%
29.3%
Net income
406
507
479
-19.8%
Net margin
4.6%
4.4%
4.5%
Diluted EPS
$2.57
$3.10
$2.85
-17.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
546
643
616
-15.1%
Capital expenditure
62.4
70.2
71.7
-11.1%
Free cash flow
483
572
544
-15.6%
Free cash flow margin
5.4%
4.9%
5.1%
Cash from investing
-342
-316
-260
Cash from financing
-113
-327
-348
Depreciation and amortisation
134
170
159
-21.2%
Share-based compensation
36.8
58.2
44.6
-36.7%
Buybacks
450
550
300
-18.2%
Diluted shares, weighted
158m
164m
168m
-3.4%
Shares outstanding at period end
154m
159m
165m
-3.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,811
2,793
2,884
+0.7%
Non-controlling interest
12.9
7.7
2.6
+66.9%
Redeemable equity
466
286
n/a
+63.0%
Debt
908
1,219
810
-25.5%
Other liabilities
3,666
2,507
2,838
+46.3%
Total liabilities and equity
7,864
6,812
6,535
+15.4%
Fixed assets
375
334
318
+12.3%
Goodwill
1,554
2,020
1,908
-23.1%
Intangible assets
670
621
593
+7.8%
Cash and equivalents
175
62.4
72.1
+180.0%
Receivables
1,523
1,254
1,230
+21.4%
Inventory
1,934
1,666
1,510
+16.1%
Other assets
1,635
855
904
+91.2%
Total assets
7,864
6,812
6,535
+15.4%
10-K for the year ended 30 December 2017, filed 20 February 2019: the filing.