Henry Schein, Inc. (HSIC) Balance Sheet

NASDAQ: HSICAssets, liabilities, debt and equity over 10 years.

HSIC balance sheet, 2025

December 31, 2025 · U.S. dollars

$11.21B assets = $6.42B liabilities + $4.79B equity

Both columns are drawn to the same scale: what HSIC owns equals what it owes plus shareholders’ equity. Hover a block for its value.

HSIC financial health

Current ratio1.38

Adequate · current assets cover current liabilities 1.38×

Debt / equity1.14

Moderate leverage · $1.14 of debt for each $1 of equity

Equity / assets28.9%

Balanced · of assets funded by shareholders

Cash / debt4.2%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles46.6%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

HSIC balance sheet trends, 2017–2025

Henry Schein, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$7.86B2017	$11.21B2025	+4.0%/yr
Total liabilities	$4.21B2017	$6.42B2025	+4.8%/yr
Shareholders’ equity	$2.81B2017	$3.25B2025	+1.6%/yr
Cash & short-term investments	$174.7M2017	$156.0M2025	−1.2%/yr
Total debt	$1.67B2017	$3.69B2025	+9.2%/yr
Net cash (debt)	−$1.49B2017	−$3.53B2025	−$2.0B
Working capital	$1.26B2017	$1.24B2025	−$21.0M
Book value per share	$17.772017	$26.662025	+4.6%/yr
Current ratio	1.442017	1.382025	−0.06
Debt / equity	0.592017	1.142025	+0.54
Shares outstanding	158.2M2017	121.7M2025	−2.9%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

HSIC assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

HSIC liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

HSIC debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

HSIC balance sheet

Henry Schein, Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2018	2017
Assets
Cash & short-term investments	$156.0M	$122.0M	$171.0M	$117.0M	$118.0M	$421.2M	$106.1M	$56.9M	$174.7M	$174.7M
Cash & equivalents	$156.0M	$122.0M	$171.0M	$117.0M	$118.0M	$421.2M	$106.1M	$56.9M	$174.7M	$174.7M
Short-term investments	—	—	—	—	—	—	—	—	$0	—
Receivables	$1.65B	$1.48B	$1.86B	$1.44B	$1.45B	$1.42B	$1.25B	$1.17B	$0	$1.52B
Inventory	$2.00B	$1.81B	$1.81B	$1.96B	$1.86B	$1.51B	$1.43B	$1.42B	$1.93B	$1.93B
Other current assets	$655.0M	$569.0M	$639.0M	$466.0M	$413.0M	$432.9M	$445.4M	$1.53B	$1.92B	$454.8M
Total current assets	$4.46B	$3.98B	$4.49B	$3.99B	$3.84B	$3.79B	$3.23B	$4.18B	$4.03B	$4.09B
Property, plant & equipment (net)	$922.0M	$824.0M	$823.0M	$667.0M	$691.0M	$630.9M	$561.3M	$314.2M	$0	$375.0M
Goodwill & intangible assets	$5.23B	$4.91B	$4.79B	$3.48B	$3.52B	$2.98B	$3.04B	$2.46B	$2.97B	$2.97B
Long-term investments	$174.0M	$170.0M	$180.0M	$472.0M	$423.9M	$366.4M	$327.9M	$538.4M	$0	$432.0M
Other non-current assets	$424.0M	$331.0M	$291.0M	$0	$126,000	$0	$0	$1.02B	$807.0M	$0
Total assets	$11.21B	$10.22B	$10.57B	$8.61B	$8.48B	$7.77B	$7.15B	$8.50B	$7.81B	$7.86B
Liabilities
Accounts payable	$1.15B	$962.0M	$1.02B	$1.00B	$1.05B	$1.01B	$880.3M	$785.8M	$0	$1.15B
Short-term debt	$875.0M	$781.0M	$494.0M	$182.0M	$138.0M	$247.9M	$199.2M	$959.7M	—	$758.3M
Deferred revenue	—	$81.0M	$8.0M	$86.0M	$89.2M	$71.5M	$70.8M	$65.3M	—	$85.7M
Total current liabilities	$3.23B	$2.80B	$2.68B	$2.22B	$2.31B	$2.28B	$2.04B	$3.22B	$2.78B	$2.83B
Long-term debt	$2.31B	$1.83B	$1.94B	$1.04B	$811.3M	$515.8M	$622.9M	$1.00B	$0	$907.8M
Lease obligations	$329.0M	$334.0M	$390.0M	$348.0M	$344.2M	$303.4M	$241.6M	—	—	—
Other long-term liabilities	$883.0M	$748.0M	$800.0M	$672.0M	$686.7M	$661.6M	$572.4M	$423.9M	$1.38B	$470.7M
Total liabilities	$6.42B	$5.38B	$5.42B	$3.94B	$3.81B	$3.46B	$3.23B	$4.65B	$4.15B	$4.21B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.4M	$1.4M	$1.5M	$0	$1.5M
Retained earnings (deficit)	$3.29B	$3.77B	$3.86B	$3.68B	$3.60B	$3.45B	$3.12B	$3.21B	$0	$2.94B
Treasury stock	—	—	—	—	—	—	—	—	$0	—
Accumulated other comprehensive income	−$226.0M	−$379.0M	−$206.0M	−$233.0M	−$171.0M	−$108.1M	−$167.4M	−$248.8M	−$249.0M	−$130.1M
Minority interest	$1.55B	$1.44B	$1.50B	$649.0M	$638.1M	$636.2M	$632.1M	$580.5M	$0	$12.9M
Total shareholders' equity	$3.25B	$3.39B	$3.65B	$3.45B	$3.42B	$3.35B	$3.00B	$2.96B	$3.66B	$2.81B
Key figures
Total debt	$3.69B	$2.87B	$2.74B	$1.50B	$1.22B	$1.00B	$998.3M	$1.94B	$924.4M	$1.67B
Net cash (debt)	−$3.53B	−$2.75B	−$2.57B	−$1.38B	−$1.10B	−$581.2M	−$892.3M	−$1.88B	−$749.8M	−$1.49B
Working capital	$1.24B	$1.18B	$1.80B	$1.76B	$1.54B	$1.51B	$1.19B	$956.4M	$1.26B	$1.26B
Tangible book value	−$1.99B	−$1.52B	−$1.14B	−$34.0M	−$97.0M	$364.4M	−$37.3M	$503.7M	$685.6M	−$160.9M
Book value per share	$26.66	$26.55	$27.74	$25.02	$24.16	$23.35	$20.09	$19.27	—	$17.77
Shares outstanding	121.7M	127.8M	131.7M	137.8M	141.8M	143.4M	149.3M	153.7M	—	158.2M
Current ratio	1.38	1.42	1.67	1.79	1.67	1.66	1.58	1.30	1.45	1.44
Quick ratio	0.56	0.57	0.76	0.70	0.68	0.81	0.66	0.38	0.06	0.60
Debt / equity	1.14	0.85	0.75	0.43	0.36	0.30	0.33	0.66	0.25	0.59
Equity / assets	28.9%	33.2%	34.6%	40.0%	40.4%	43.1%	41.9%	34.8%	46.8%	35.8%

Henry Schein, Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$157.0M	$138.0M	$156.0M	$136.0M	$145.0M	$127.0M	$122.0M	$126.0M	$138.0M	$159.0M	$171.0M	$166.0M
Cash & equivalents	$157.0M	$138.0M	$156.0M	$136.0M	$145.0M	$127.0M	$122.0M	$126.0M	$138.0M	$159.0M	$171.0M	$166.0M
Receivables	$1.76B	$1.72B	$1.65B	$1.74B	$1.65B	$1.58B	$1.48B	$1.66B	$1.56B	$1.64B	$1.86B	$1.57B
Inventory	$2.06B	$2.01B	$2.00B	$1.91B	$1.91B	$1.84B	$1.81B	$1.75B	$1.66B	$1.69B	$1.81B	$1.83B
Other current assets	$621.0M	$625.0M	$655.0M	$604.0M	$545.0M	$490.0M	$569.0M	$607.0M	$587.0M	$589.0M	$639.0M	$541.0M
Total current assets	$4.60B	$4.50B	$4.46B	$4.39B	$4.24B	$4.04B	$3.98B	$4.15B	$3.94B	$4.08B	$4.49B	$4.11B
Property, plant & equipment (net)	$940.0M	$930.0M	$922.0M	$911.0M	$887.0M	$850.0M	$824.0M	$844.0M	$822.0M	$814.0M	$823.0M	$797.0M
Goodwill & intangible assets	$5.24B	$5.29B	$5.23B	$5.19B	$5.13B	$4.98B	$4.91B	$5.09B	$4.99B	$4.75B	$4.79B	$4.43B
Long-term investments	$0	$0	$174.0M	$0	$0	$0	$170.0M	$0	$0	$503.0M	$180.0M	$471.0M
Other non-current assets	$604.0M	$587.0M	$424.0M	$598.0M	$650.0M	$609.0M	$331.0M	$528.0M	$502.0M	$0	$291.0M	$0
Total assets	$11.38B	$11.30B	$11.21B	$11.10B	$10.91B	$10.48B	$10.22B	$10.61B	$10.25B	$10.14B	$10.57B	$9.81B
Liabilities
Accounts payable	$1.14B	$1.04B	$1.15B	$1.03B	$918.0M	$908.0M	$962.0M	$1.03B	$867.0M	$879.0M	$1.02B	$953.0M
Short-term debt	$1.24B	$1.16B	$875.0M	$1.02B	$1.01B	$1.00B	$781.0M	$824.0M	$686.0M	$442.0M	$494.0M	$158.0M
Deferred revenue	—	—	—	—	—	—	$81.0M	$76.0M	$77.0M	$84.0M	$89.0M	−$158.0M
Total current liabilities	$3.49B	$3.30B	$3.23B	$3.15B	$3.01B	$2.92B	$2.80B	$2.93B	$2.55B	$2.33B	$2.68B	$2.09B
Long-term debt	$2.30B	$2.33B	$2.31B	$2.15B	$2.09B	$1.97B	$1.83B	$1.91B	$1.89B	$2.01B	$1.94B	$1.81B
Lease obligations	$351.0M	$341.0M	$329.0M	$345.0M	$340.0M	$333.0M	$334.0M	$339.0M	$336.0M	$341.0M	$390.0M	$388.0M
Other long-term liabilities	$870.0M	$858.0M	$883.0M	$895.0M	$910.0M	$876.0M	$748.0M	$799.0M	$807.0M	$766.0M	$800.0M	$801.0M
Total liabilities	$6.66B	$6.48B	$6.42B	$6.20B	$6.01B	$5.76B	$5.38B	$5.63B	$5.25B	$5.11B	$5.42B	$4.71B
Shareholders' equity
Common stock & paid-in capital	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M
Retained earnings (deficit)	$3.20B	$3.29B	$3.29B	$3.38B	$3.48B	$3.63B	$3.77B	$3.77B	$3.80B	$3.84B	$3.86B	$3.90B
Accumulated other comprehensive income	−$184.0M	−$189.0M	−$226.0M	−$222.0M	−$227.0M	−$317.0M	−$379.0M	−$264.0M	−$292.0M	−$239.0M	−$206.0M	−$247.0M
Minority interest	$1.57B	$1.56B	$1.55B	$1.54B	$1.45B	—	—	—	—	—	—	—
Total shareholders' equity	$3.16B	$3.27B	$3.25B	$3.36B	$3.44B	$3.31B	$3.39B	$3.50B	$3.51B	$3.60B	$3.65B	$3.65B
Key figures
Total debt	$3.81B	$3.75B	$3.69B	$3.44B	$3.36B	$3.22B	$2.87B	$2.99B	$2.84B	$2.72B	$2.74B	$2.29B
Net cash (debt)	−$3.66B	−$3.61B	−$3.53B	−$3.31B	−$3.21B	−$3.10B	−$2.75B	−$2.87B	−$2.70B	−$2.56B	−$2.57B	−$2.12B
Working capital	$1.11B	$1.20B	$1.24B	$1.25B	$1.24B	$1.12B	$1.18B	$1.22B	$1.39B	$1.74B	$1.80B	$2.02B
Tangible book value	−$2.08B	−$2.02B	−$1.99B	−$1.83B	−$1.68B	−$1.67B	−$1.52B	−$1.58B	−$1.47B	−$1.15B	−$1.14B	−$778.0M
Book value per share	$27.60	$28.14	$27.42	$27.77	$28.09	$26.51	$27.01	$27.57	$27.30	$27.74	$27.96	$27.78
Shares outstanding	114.4M	116.1M	118.3M	121.0M	122.6M	124.8M	125.6M	127.1M	128.6M	129.8M	130.7M	131.4M
Current ratio	1.32	1.36	1.38	1.40	1.41	1.38	1.42	1.42	1.55	1.75	1.67	1.97
Quick ratio	0.55	0.56	0.56	0.60	0.60	0.58	0.57	0.61	0.67	0.77	0.76	0.83
Debt / equity	1.21	1.15	1.14	1.02	0.97	0.97	0.85	0.85	0.81	0.76	0.75	0.63
Equity / assets	27.7%	28.9%	28.9%	30.3%	31.6%	31.6%	33.2%	33.0%	34.3%	35.5%	34.6%	37.2%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.

HSIC financial position

At the end of fiscal 2025 (December 31, 2025), Henry Schein had total assets of $11.2 billion (up 9.8% from a year earlier), total liabilities of $6.4 billion and shareholders' equity of $3.2 billion. It held $156.0 million in cash and short-term investments against $3.7 billion of debt, net debt of $3.5 billion. Its current ratio was 1.38. In the latest quarter (ended June 30, 2026) total assets were $11.4 billion and equity $3.2 billion.

Related: HSIC income statement, HSIC cash flow statement, HSIC key metrics. See the HSIC stock overview for the latest quote and news.

HSIC balance sheet FAQ

What are Henry Schein's total assets?

Henry Schein reported total assets of $11.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $10.2 billion a year earlier.

How much debt does Henry Schein have?

Henry Schein had $3.7 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.14.

How much cash does Henry Schein have?

Henry Schein held $156.0 million in cash and short-term investments at the end of fiscal 2025; with $3.7 billion of debt that is net debt of $3.5 billion.

What is Henry Schein's book value?

Henry Schein's shareholders' equity (book value) was $3.2 billion at the end of fiscal 2025, or $26.66 per share.

What is Henry Schein's current ratio?

Henry Schein had current assets of $4.5 billion and current liabilities of $3.2 billion, a current ratio of 1.38 (it can cover its short-term obligations).

How much goodwill does Henry Schein have?

Henry Schein carried $5.2 billion of goodwill and intangible assets, 46.6% of total assets, at the end of fiscal 2025.