Henry Schein (HSIC) FY2019 results: revenue $10.0 billion, up 6.0% on the year
Henry Schein Inc. (HSIC) reported revenue of $10.0 billion for fiscal 2019, the year ended 28 December 2019, up 6.0% on the year before. Net income was $695 million, up 29.6%, and diluted earnings per share $4.65. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$10.0 billion
+6.0% on the year
FY2012FY2019
Operating margin
7.2%
6.4% a year earlier
FY2012FY2019
Net income
$695 million
+29.6% on the year
FY2012FY2019
Diluted EPS
$4.65
+33.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
9,986
9,418
8,883
+6.0%
Cost of revenue
6,895
6,507
6,137
+6.0%
Gross profit
3,091
2,911
2,747
+6.2%
Gross margin
31.0%
30.9%
30.9%
Selling, general and administrative
2,358
2,217
2,072
+6.3%
Operating income
718
601
670
+19.6%
Operating margin
7.2%
6.4%
7.5%
Interest expense
50.8
76.0
51.1
-33.2%
Pre-tax income
680
537
630
+26.7%
Income tax
160
107
309
+48.5%
Effective tax rate
23.4%
20.0%
49.1%
Net income
695
536
406
+29.6%
Net margin
7.0%
5.7%
4.6%
Diluted EPS
$4.65
$3.49
$2.57
+33.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
654
685
546
-4.5%
Capital expenditure
76.2
71.3
62.4
+6.9%
Free cash flow
578
613
483
-5.8%
Free cash flow margin
5.8%
6.5%
5.4%
Cash from investing
-424
-193
-342
Cash from financing
-216
-604
-113
Depreciation and amortisation
185
144
134
+28.8%
Share-based compensation
44.9
32.6
36.8
+37.7%
Buybacks
525
200
450
+162.5%
Diluted shares, weighted
149m
154m
158m
-2.9%
Shares outstanding at period end
143m
151m
154m
-5.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,998
2,961
2,811
+1.2%
Non-controlling interest
632
580
12.9
+8.9%
Redeemable equity
287
220
466
+30.7%
Debt
757
1,940
908
-61.0%
Operating lease liabilities
176
0.0
n/a
Finance lease liabilities
3.7
n/a
n/a
Other liabilities
2,297
2,799
3,666
-17.9%
Total liabilities and equity
7,151
8,501
7,864
-15.9%
Fixed assets
330
314
375
+4.9%
Goodwill
2,462
2,081
1,554
+18.3%
Intangible assets
573
376
670
+52.3%
Cash and equivalents
106
80.2
175
+32.3%
Receivables
1,246
1,169
1,523
+6.6%
Inventory
1,429
1,416
1,934
+0.9%
Other assets
1,005
3,065
1,635
-67.2%
Total assets
7,151
8,501
7,864
-15.9%
10-K for the year ended 28 December 2019, filed 20 February 2020: the filing.