Henry Schein (HSIC) FY2020 results: revenue $10.1 billion, up 1.3% on the year
Henry Schein Inc. (HSIC) reported revenue of $10.1 billion for fiscal 2020, the year ended 26 December 2020, up 1.3% on the year before. Net income was $404 million, down 41.9%, and diluted earnings per share $2.82. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$10.1 billion
+1.3% on the year
FY2013FY2020
Operating margin
5.3%
7.2% a year earlier
FY2013FY2020
Net income
$404 million
-41.9% on the year
FY2013FY2020
Diluted EPS
$2.82
-39.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
10,119
9,986
9,418
+1.3%
Cost of revenue
7,305
6,895
6,507
+5.9%
Gross profit
2,814
3,091
2,911
-8.9%
Gross margin
27.8%
31.0%
30.9%
Selling, general and administrative
2,086
2,358
2,217
-11.5%
Operating income
535
718
601
-25.5%
Operating margin
5.3%
7.2%
6.4%
Interest expense
41.0
50.8
76.0
-19.3%
Pre-tax income
500
680
537
-26.5%
Income tax
95.0
160
107
-40.4%
Effective tax rate
19.0%
23.4%
20.0%
Net income
404
695
536
-41.9%
Net margin
4.0%
7.0%
5.7%
Diluted EPS
$2.82
$4.65
$3.49
-39.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
599
654
685
-8.4%
Capital expenditure
49.0
76.2
71.3
-35.7%
Free cash flow
550
578
613
-4.8%
Free cash flow margin
5.4%
5.8%
6.5%
Cash from investing
-115
-424
-193
Cash from financing
-187
-216
-604
Depreciation and amortisation
186
185
144
+0.6%
Share-based compensation
9.0
44.9
32.6
-80.0%
Buybacks
74.0
525
200
-85.9%
Diluted shares, weighted
143m
149m
154m
-3.9%
Shares outstanding at period end
142m
143m
151m
-0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,348
2,998
2,961
+11.7%
Non-controlling interest
636
632
580
+0.7%
Redeemable equity
328
287
220
+14.1%
Debt
699
757
1,940
-7.6%
Operating lease liabilities
239
176
0.0
+35.4%
Finance lease liabilities
3.5
3.7
n/a
-3.2%
Other liabilities
2,519
2,297
2,799
+9.7%
Total liabilities and equity
7,773
7,151
8,501
+8.7%
Fixed assets
342
330
314
+3.7%
Goodwill
2,504
2,462
2,081
+1.7%
Intangible assets
479
573
376
-16.3%
Cash and equivalents
421
106
80.2
+297.0%
Receivables
1,425
1,246
1,169
+14.3%
Inventory
1,512
1,429
1,416
+5.9%
Other assets
1,088
1,005
3,065
+8.3%
Total assets
7,773
7,151
8,501
+8.7%
10-K for the year ended 26 December 2020, filed 17 February 2021: the filing.