Intrinsic value of Henry Schein - HSIC

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$173.80

  Intrinsic Value

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  Rating & Target

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  Value-price divergence*

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Previous close

$173.80

 
Intrinsic value

$162.71

 
Up/down potential

-6%

 
Rating

hold

 
Value-price divergence* premium content

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*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of HSIC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 13.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.86
  8.90
  8.51
  8.16
  7.84
  7.56
  7.30
  7.07
  6.87
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.59
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
Revenue, $m
  11,572
  12,602
  13,674
  14,790
  15,950
  17,156
  18,409
  19,710
  21,064
  22,470
  23,934
  25,456
  27,040
  28,690
  30,409
  32,200
  34,069
  36,019
  38,054
  40,179
  42,400
  44,721
  47,148
  49,686
  52,342
  55,122
  58,033
  61,081
  64,273
  67,618
  71,123
Variable operating expenses, $m
 
  11,714
  12,694
  13,713
  14,773
  15,874
  17,019
  18,208
  19,445
  20,730
  22,066
  23,255
  24,702
  26,209
  27,780
  29,417
  31,124
  32,905
  34,764
  36,706
  38,734
  40,855
  43,072
  45,391
  47,817
  50,357
  53,016
  55,800
  58,716
  61,772
  64,974
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  10,800
  11,714
  12,694
  13,713
  14,773
  15,874
  17,019
  18,208
  19,445
  20,730
  22,066
  23,255
  24,702
  26,209
  27,780
  29,417
  31,124
  32,905
  34,764
  36,706
  38,734
  40,855
  43,072
  45,391
  47,817
  50,357
  53,016
  55,800
  58,716
  61,772
  64,974
Operating income, $m
  772
  888
  980
  1,077
  1,177
  1,281
  1,390
  1,502
  1,619
  1,741
  1,867
  2,201
  2,338
  2,480
  2,629
  2,784
  2,945
  3,114
  3,290
  3,474
  3,666
  3,866
  4,076
  4,296
  4,525
  4,766
  5,017
  5,281
  5,557
  5,846
  6,149
EBITDA, $m
  942
  1,149
  1,247
  1,349
  1,455
  1,564
  1,679
  1,797
  1,921
  2,049
  2,183
  2,321
  2,466
  2,616
  2,773
  2,936
  3,107
  3,285
  3,470
  3,664
  3,867
  4,078
  4,300
  4,531
  4,773
  5,027
  5,292
  5,570
  5,861
  6,166
  6,486
Interest expense (income), $m
  29
  40
  53
  65
  78
  92
  106
  121
  136
  152
  168
  185
  203
  222
  241
  261
  282
  304
  327
  351
  376
  402
  429
  457
  487
  518
  551
  585
  621
  658
  697
Earnings before tax, $m
  756
  847
  928
  1,012
  1,099
  1,189
  1,284
  1,381
  1,483
  1,589
  1,699
  2,015
  2,135
  2,259
  2,388
  2,523
  2,663
  2,810
  2,963
  3,123
  3,290
  3,465
  3,647
  3,838
  4,038
  4,247
  4,466
  4,696
  4,936
  5,188
  5,452
Tax expense, $m
  218
  229
  250
  273
  297
  321
  347
  373
  400
  429
  459
  544
  576
  610
  645
  681
  719
  759
  800
  843
  888
  935
  985
  1,036
  1,090
  1,147
  1,206
  1,268
  1,333
  1,401
  1,472
Net income, $m
  507
  618
  677
  738
  802
  868
  937
  1,008
  1,083
  1,160
  1,240
  1,471
  1,558
  1,649
  1,743
  1,842
  1,944
  2,051
  2,163
  2,280
  2,402
  2,529
  2,662
  2,802
  2,948
  3,101
  3,260
  3,428
  3,603
  3,787
  3,980

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  62
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  6,730
  7,263
  7,881
  8,525
  9,193
  9,888
  10,610
  11,361
  12,140
  12,951
  13,795
  14,672
  15,585
  16,536
  17,527
  18,559
  19,636
  20,760
  21,933
  23,158
  24,438
  25,776
  27,175
  28,638
  30,169
  31,771
  33,448
  35,205
  37,045
  38,973
  40,993
Adjusted assets (=assets-cash), $m
  6,668
  7,263
  7,881
  8,525
  9,193
  9,888
  10,610
  11,361
  12,140
  12,951
  13,795
  14,672
  15,585
  16,536
  17,527
  18,559
  19,636
  20,760
  21,933
  23,158
  24,438
  25,776
  27,175
  28,638
  30,169
  31,771
  33,448
  35,205
  37,045
  38,973
  40,993
Revenue / Adjusted assets
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
  1.735
Average production assets, $m
  936
  1,021
  1,108
  1,198
  1,292
  1,390
  1,491
  1,597
  1,706
  1,820
  1,939
  2,062
  2,190
  2,324
  2,463
  2,608
  2,760
  2,918
  3,082
  3,255
  3,434
  3,622
  3,819
  4,025
  4,240
  4,465
  4,701
  4,948
  5,206
  5,477
  5,761
Working capital, $m
  1,022
  1,588
  1,723
  1,864
  2,010
  2,162
  2,319
  2,484
  2,654
  2,831
  3,016
  3,207
  3,407
  3,615
  3,831
  4,057
  4,293
  4,538
  4,795
  5,063
  5,342
  5,635
  5,941
  6,260
  6,595
  6,945
  7,312
  7,696
  8,098
  8,520
  8,962
Total debt, $m
  1,219
  1,502
  1,861
  2,235
  2,623
  3,027
  3,446
  3,882
  4,336
  4,807
  5,297
  5,806
  6,337
  6,889
  7,465
  8,065
  8,691
  9,344
  10,025
  10,737
  11,480
  12,258
  13,070
  13,920
  14,810
  15,741
  16,715
  17,736
  18,805
  19,925
  21,099
Total liabilities, $m
  3,937
  4,220
  4,579
  4,953
  5,341
  5,745
  6,164
  6,600
  7,054
  7,525
  8,015
  8,524
  9,055
  9,607
  10,183
  10,783
  11,409
  12,062
  12,743
  13,455
  14,198
  14,976
  15,788
  16,638
  17,528
  18,459
  19,433
  20,454
  21,523
  22,643
  23,817
Total equity, $m
  2,793
  3,043
  3,302
  3,572
  3,852
  4,143
  4,446
  4,760
  5,087
  5,427
  5,780
  6,148
  6,530
  6,929
  7,344
  7,776
  8,228
  8,698
  9,190
  9,703
  10,240
  10,800
  11,386
  11,999
  12,641
  13,312
  14,015
  14,751
  15,522
  16,330
  17,176
Total liabilities and equity, $m
  6,730
  7,263
  7,881
  8,525
  9,193
  9,888
  10,610
  11,360
  12,141
  12,952
  13,795
  14,672
  15,585
  16,536
  17,527
  18,559
  19,637
  20,760
  21,933
  23,158
  24,438
  25,776
  27,174
  28,637
  30,169
  31,771
  33,448
  35,205
  37,045
  38,973
  40,993
Debt-to-equity ratio
  0.436
  0.490
  0.560
  0.630
  0.680
  0.730
  0.780
  0.820
  0.850
  0.890
  0.920
  0.940
  0.970
  0.990
  1.020
  1.040
  1.060
  1.070
  1.090
  1.110
  1.120
  1.130
  1.150
  1.160
  1.170
  1.180
  1.190
  1.200
  1.210
  1.220
  1.230
Adjusted equity ratio
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419
  0.419

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  507
  618
  677
  738
  802
  868
  937
  1,008
  1,083
  1,160
  1,240
  1,471
  1,558
  1,649
  1,743
  1,842
  1,944
  2,051
  2,163
  2,280
  2,402
  2,529
  2,662
  2,802
  2,948
  3,101
  3,260
  3,428
  3,603
  3,787
  3,980
Depreciation, amort., depletion, $m
  170
  262
  267
  272
  278
  283
  289
  295
  302
  308
  315
  121
  128
  136
  144
  153
  161
  171
  180
  190
  201
  212
  223
  235
  248
  261
  275
  289
  304
  320
  337
Funds from operations, $m
  460
  880
  944
  1,010
  1,080
  1,152
  1,226
  1,304
  1,385
  1,468
  1,556
  1,592
  1,686
  1,785
  1,887
  1,994
  2,106
  2,222
  2,343
  2,470
  2,602
  2,741
  2,886
  3,037
  3,196
  3,362
  3,535
  3,717
  3,908
  4,107
  4,317
Change in working capital, $m
  -155
  130
  135
  141
  146
  152
  158
  164
  171
  177
  184
  192
  200
  208
  217
  226
  235
  246
  256
  268
  280
  292
  306
  320
  335
  350
  367
  384
  402
  421
  442
Cash from operations, $m
  615
  772
  809
  870
  933
  1,000
  1,068
  1,140
  1,214
  1,291
  1,371
  1,400
  1,487
  1,577
  1,671
  1,768
  1,870
  1,976
  2,087
  2,202
  2,323
  2,449
  2,580
  2,717
  2,861
  3,011
  3,169
  3,333
  3,506
  3,686
  3,875
Maintenance CAPEX, $m
  0
  -55
  -60
  -65
  -70
  -76
  -81
  -87
  -93
  -100
  -106
  -113
  -121
  -128
  -136
  -144
  -153
  -161
  -171
  -180
  -190
  -201
  -212
  -223
  -235
  -248
  -261
  -275
  -289
  -304
  -320
New CAPEX, $m
  -70
  -85
  -87
  -90
  -94
  -98
  -101
  -105
  -110
  -114
  -119
  -123
  -128
  -134
  -139
  -145
  -151
  -158
  -165
  -172
  -180
  -188
  -197
  -206
  -215
  -225
  -236
  -247
  -259
  -271
  -284
Cash from investing activities, $m
  -316
  -140
  -147
  -155
  -164
  -174
  -182
  -192
  -203
  -214
  -225
  -236
  -249
  -262
  -275
  -289
  -304
  -319
  -336
  -352
  -370
  -389
  -409
  -429
  -450
  -473
  -497
  -522
  -548
  -575
  -604
Free cash flow, $m
  299
  632
  662
  715
  769
  826
  886
  947
  1,011
  1,077
  1,146
  1,163
  1,238
  1,315
  1,395
  1,479
  1,566
  1,657
  1,751
  1,850
  1,953
  2,060
  2,172
  2,288
  2,411
  2,538
  2,672
  2,811
  2,958
  3,111
  3,271
Issuance/(repayment) of debt, $m
  344
  345
  359
  374
  388
  404
  420
  436
  453
  471
  490
  510
  531
  552
  576
  600
  626
  653
  682
  712
  744
  777
  813
  850
  889
  931
  975
  1,021
  1,069
  1,120
  1,174
Issuance/(repurchase) of shares, $m
  -539
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -300
  345
  359
  374
  388
  404
  420
  436
  453
  471
  490
  510
  531
  552
  576
  600
  626
  653
  682
  712
  744
  777
  813
  850
  889
  931
  975
  1,021
  1,069
  1,120
  1,174
Total cash flow (excl. dividends), $m
  -10
  977
  1,021
  1,088
  1,158
  1,230
  1,305
  1,383
  1,464
  1,548
  1,636
  1,673
  1,768
  1,868
  1,971
  2,079
  2,192
  2,310
  2,433
  2,562
  2,696
  2,837
  2,984
  3,139
  3,300
  3,469
  3,646
  3,832
  4,027
  4,231
  4,445
Retained Cash Flow (-), $m
  91
  -250
  -259
  -269
  -280
  -291
  -303
  -314
  -327
  -340
  -353
  -368
  -383
  -398
  -415
  -433
  -451
  -471
  -491
  -513
  -536
  -561
  -586
  -613
  -641
  -671
  -703
  -736
  -771
  -808
  -846
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  726
  762
  819
  878
  939
  1,003
  1,069
  1,137
  1,209
  1,283
  1,306
  1,386
  1,469
  1,556
  1,646
  1,741
  1,839
  1,941
  2,048
  2,160
  2,276
  2,398
  2,525
  2,659
  2,798
  2,944
  3,096
  3,256
  3,423
  3,598
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  696
  698
  713
  723
  728
  728
  722
  711
  694
  673
  620
  591
  559
  522
  483
  442
  400
  358
  315
  274
  235
  199
  166
  135
  109
  86
  66
  50
  37
  27
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Henry Schein, Inc. provides health care products and services to dental practitioners and laboratories, animal health clinics, physician practices, government, institutional health care clinics, and other alternate care clinics worldwide. It operates through two segments, Health Care Distribution, and Technology and Value-Added Services. The Health Care Distribution segment offers dental products, including infection-control products, handpieces, preventatives, impression materials, composites, anesthetics, teeth, dental implants, gypsum, acrylics, articulators, abrasives, dental chairs, delivery units and lights, X-ray supplies and equipment, and high-tech and digital restoration equipment, as well as equipment repair services. This segment also provides animal health products, such as branded and generic pharmaceuticals, surgical and consumable products and services, and equipment; and medical products comprising branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products, X-ray products, equipment, and vitamins. The Technology and Value-Added Services segment offers software, technology, and other value-added services that include practice management software systems for dental and medical practitioners, and animal health clinics. This segment also provides value-added practice solutions, which comprise financial services on a non-recourse basis, e-services, practice technology, network, and hardware services, as well as continuing education services for practitioners. The company was founded in 1932 and is headquartered in Melville, New York.

FINANCIAL RATIOS  of  Henry Schein (HSIC)

Valuation Ratios
P/E Ratio 27.2
Price to Sales 1.2
Price to Book 4.9
Price to Tangible Book
Price to Cash Flow 22.4
Price to Free Cash Flow 25.3
Growth Rates
Sales Growth Rate 8.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -2.8%
Cap. Spend. - 3 Yr. Gr. Rate 3.1%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 25.6%
Total Debt to Equity 43.6%
Interest Coverage 27
Management Effectiveness
Return On Assets 8%
Ret/ On Assets - 3 Yr. Avg. 8%
Return On Total Capital 13.2%
Ret/ On T. Cap. - 3 Yr. Avg. 13.4%
Return On Equity 17.9%
Return On Equity - 3 Yr. Avg. 17.1%
Asset Turnover 1.7
Profitability Ratios
Gross Margin 27.9%
Gross Margin - 3 Yr. Avg. 28.1%
EBITDA Margin 8.3%
EBITDA Margin - 3 Yr. Avg. 8.4%
Operating Margin 6.7%
Oper. Margin - 3 Yr. Avg. 6.8%
Pre-Tax Margin 6.5%
Pre-Tax Margin - 3 Yr. Avg. 6.7%
Net Profit Margin 4.4%
Net Profit Margin - 3 Yr. Avg. 4.5%
Effective Tax Rate 28.8%
Eff/ Tax Rate - 3 Yr. Avg. 29.5%
Payout Ratio 0%

HSIC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HSIC stock intrinsic value calculation we used $11572 million for the last fiscal year's total revenue generated by Henry Schein. The default revenue input number comes from 2016 income statement of Henry Schein. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our HSIC stock valuation model: a) initial revenue growth rate of 8.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for HSIC is calculated based on our internal credit rating of Henry Schein, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Henry Schein.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of HSIC stock the variable cost ratio is equal to 93.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for HSIC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Henry Schein.

Corporate tax rate of 27% is the nominal tax rate for Henry Schein. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the HSIC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for HSIC are equal to 8.1%.

Life of production assets of 17.1 years is the average useful life of capital assets used in Henry Schein operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for HSIC is equal to 12.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2793 million for Henry Schein - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 78.779 million for Henry Schein is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Henry Schein at the current share price and the inputted number of shares is $13.7 billion.


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COMPANY NEWS

▶ Henry Schein Announces New $750 Million Credit Facility   [Apr-19-17 08:00AM  PR Newswire]
▶ Can this non-Trump play keep climbing?   [05:11PM  CNBC Videos]
▶ Henry Schein To Acquire Southern Anesthesia + Surgical   [Feb-20-17 04:05PM  PR Newswire]
▶ DoD quietly turns on Cerner's EHR pilot   [Feb-10-17 04:49PM  at bizjournals.com]
▶ Veterinary supplier plans to add 50 jobs in Columbus, Dublin   [Dec-05-16 04:35PM  at bizjournals.com]
▶ Hedge Funds Are Dumping Parker-Hannifin Corp (PH)   [Dec-01-16 09:56AM  at Insider Monkey]
▶ Is DENTSPLY International Inc. (XRAY) A Good Stock To Buy?   [Nov-25-16 10:01PM  at Insider Monkey]
Stock chart of HSIC Financial statements of HSIC
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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