Henry Schein (HSIC) FY2018 results: revenue $9.4 billion, up 6.0% on the year
Henry Schein Inc. (HSIC) reported revenue of $9.4 billion for fiscal 2018, the year ended 29 December 2018, up 6.0% on the year before. Net income was $536 million, up 31.9%, and diluted earnings per share $3.49. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$9.4 billion
+6.0% on the year
FY2011FY2018
Operating margin
6.4%
7.5% a year earlier
FY2011FY2018
Net income
$536 million
+31.9% on the year
FY2011FY2018
Diluted EPS
$3.49
+35.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
9,418
8,883
11,572
+6.0%
Cost of revenue
6,507
6,137
8,338
+6.0%
Gross profit
2,911
2,747
3,226
+6.0%
Gross margin
30.9%
30.9%
27.9%
Selling, general and administrative
2,217
2,072
2,409
+7.0%
Operating income
601
670
772
-10.3%
Operating margin
6.4%
7.5%
6.7%
Interest expense
76.0
51.1
31.9
+48.9%
Pre-tax income
537
630
756
-14.8%
Income tax
107
309
218
-65.2%
Effective tax rate
20.0%
49.1%
28.8%
Net income
536
406
507
+31.9%
Net margin
5.7%
4.6%
4.4%
Diluted EPS
$3.49
$2.57
$3.10
+35.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
685
546
643
+25.5%
Capital expenditure
71.3
62.4
70.2
+14.2%
Free cash flow
613
483
572
+27.0%
Free cash flow margin
6.5%
5.4%
4.9%
Cash from investing
-193
-342
-316
Cash from financing
-604
-113
-327
Depreciation and amortisation
144
134
170
+7.3%
Share-based compensation
32.6
36.8
58.2
-11.5%
Buybacks
200
450
550
-55.6%
Diluted shares, weighted
154m
158m
164m
-2.8%
Shares outstanding at period end
151m
154m
159m
-1.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,961
2,811
2,793
+5.3%
Non-controlling interest
580
12.9
7.7
+4,395.8%
Redeemable equity
220
466
286
-52.8%
Debt
1,940
908
1,219
+113.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
2,799
3,666
2,507
-23.7%
Total liabilities and equity
8,501
7,864
6,812
+8.1%
Fixed assets
314
375
334
-16.2%
Goodwill
2,081
1,554
2,020
+34.0%
Intangible assets
376
670
621
-43.8%
Cash and equivalents
80.2
175
62.4
-54.1%
Receivables
1,169
1,523
1,254
-23.2%
Inventory
1,416
1,934
1,666
-26.8%
Other assets
3,065
1,635
855
+87.5%
Total assets
8,501
7,864
6,812
+8.1%
10-K for the year ended 29 December 2018, filed 20 February 2019: the filing.