Henry Schein (HSIC) Corporate presentation summary

Business overview and market position

• Global leader in dental merchandise, specialty products, equipment, and services, with $13.2B in FY2025 net sales and operations in 34 countries.

• Serves over 1 million customers and employs more than 25,000 people.

• Holds #1 market share in dental distribution in the US, Canada, Europe, Australia/New Zealand, and Brazil.

• Diversified sales: 84% from distribution and value-added services, 11% specialty products, 5% technology.

• S&P 500 component with a 94-year operating history.

Strategic transformation and growth initiatives

• BOLD + 1 strategy focuses on agility, digital transformation, and high-growth, high-margin businesses.

• High-growth, high-margin businesses now contribute ~47% of non-GAAP operating income, targeting over 50% by 2027.

• Strategic priorities include expanding specialty and technology offerings, operational efficiency, and digital solutions.

• Active M&A pipeline targets bolt-on acquisitions in software, specialty, and services.

• Value creation initiatives aim to deliver $200M+ in operating income improvements via SG&A reduction and margin enhancement.

Financial performance and capital allocation

• FY2025 net sales reached $13.2B, up 4% from 2024; non-GAAP operating income grew 2.4% to $972M.

• Non-GAAP EPS rose 4.9% to $4.97; 12% non-GAAP EPS CAGR since IPO.

• Operating margin at 7.37% in 2025, with a 14 bps average annual increase since IPO.

• Strong cash flow supports investments, M&A, and accelerated share repurchases.

• Maintains investment-grade balance sheet, $712M operating cash flow in 2025, and $1.5B borrowing capacity.