TacticScaleWhat Henry Schein Does & How It Makes Money (HSIC)
Updated October 2026 · reflects Henry Schein's latest reported financials
Distributor of dental and medical supplies, equipment, and practice software. Most revenue comes from distributing third-party and private-label consumables, pharmaceuticals, and equipment to dental and medical practices, with added income from repair, financing, and consulting services.
How Henry Schein makes money
Most revenue comes from distributing third-party and private-label consumables, pharmaceuticals, and equipment to dental and medical practices, with added income from repair, financing, and consulting services. It also earns from manufacturing specialty dental products such as implants and from selling practice management software and e-services.
What Henry Schein does
Henry Schein, founded in 1932 and based in Melville, New York, is a large distributor of health care products to office-based dental and medical practitioners worldwide. Its core Global Distribution and Value-Added Services segment sells a wide catalog covering infection-control products, PPE, anesthetics, pharmaceuticals, vaccines, diagnostic tests, dental consumables, and equipment such as dental chairs, X-ray systems, and digital restoration tools. It also sells its own corporate-brand consumables and offers equipment repair, non-recourse financing, continuing education, and consulting. Beyond distribution, the Global Specialty Products segment makes and sells dental implants, biomaterials, and endodontic, orthodontic, and orthopedic products, and the Global Technology segment develops practice management software and e-services. Customers include dental practices and labs, physician practices, ambulatory surgery centers, government and institutional clinics, and home health providers. The company has also partnered with GoTu Technology to help dental practices with staffing shortages.
Products & services
- Dental and medical consumables distribution
- Henry Schein corporate-brand consumables
- Dental equipment (chairs, X-ray, digital restoration)
- Dental implants and biomaterials
- Endodontic and orthodontic products
- Practice management software
What is Henry Schein worth?
On an owner-earnings DCF, Henry Schein's most-likely value is about $95 versus a recent price near $84 (14% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$57) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ High leverage — net debt is 5.5× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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