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How Henry Schein (HSIC) makes money
Henry Schein (HSIC) made $3.5B of revenue in the third quarter 2026 (Q3 2026), +4% from a year earlier. Global Distribution and Value-Added Services brought in $2.9B (85%); Global Specialty Products brought in $350M (10%); Global Technology brought in $181M (5%). Of every dollar of revenue, 32¢ was left as gross profit, 6¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Global Distribution and Value-Added Services | $2.9B | 84.7% | +1% | +4% |
| Global Specialty Products | $350M | 10.1% | -6% | +6% |
| Global Technology | $181M | 5.2% | 0% | +5% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $3.5B | 100.0% |
| Cost of revenue | $2.4B | 68.2% |
| Gross profit | $1.1B | 31.8% |
| Operating expenses | $912M | 26.3% |
| Operating profit | $193M | 5.6% |
| Income tax | $37.0M | 1.1% |
| Net earnings | $119M | 3.4% |
| Operating cash flow | $161M | 4.6% |
| Free cash flow | $131M | 3.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $3.5B | +4% |
| Q2 2026 | $3.5B | +7% |
| Q1 2026 | $3.4B | +6% |
| Q4 2025 | $3.4B | +8% |
| Q3 2025 | $3.3B | +5% |
| Q2 2025 | $3.2B | +3% |
| Q1 2025 | $3.2B | -0.1% |
From Henry Schein's 10-Q filed Nov 3, 2026 (on EDGAR).
Questions
How does Henry Schein make money?
Henry Schein (HSIC) made $3.5B of revenue in the third quarter 2026 (Q3 2026), +4% from a year earlier. Global Distribution and Value-Added Services brought in $2.9B (85%); Global Specialty Products brought in $350M (10%); Global Technology brought in $181M (5%). Of every dollar of revenue, 32¢ was left as gross profit, 6¢ was left as operating profit, 3¢ was left as net earnings.
What is Henry Schein's biggest business?
Global Distribution and Value-Added Services: $2.9B in the third quarter 2026, 85% of revenue, +4% from a year earlier.
What is Henry Schein's profit margin?
Net earnings were $119M, 3.4% of revenue, in the third quarter 2026; the operating margin was 5.6%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.