Henry Schein vs Medline
Medline is the larger business, with $28.43bn of revenue in fiscal 2025 against $13.18bn for Henry Schein (2.2 times as much). Medline grew faster (11.5% against 4.0%). Medline kept more of each dollar of sales as profit: a net margin of 4.1% against 3.0%. Henry Schein carries less debt relative to equity (95.7% against 118.8%).
| Latest fiscal year | Henry ScheinHSIC, 2025 | MedlineMDLN, 2025 |
|---|---|---|
| Revenue | $13.18bn | $28.43bn |
| Revenue growth | 4.0% | 11.5% |
| Net income | $398m | $1.15bn |
| Operating margin | 5.0% | 7.8% |
| Net margin | 3.0% | 4.1% |
| Return on equity | 12.0% | 10.7% |
| Free cash flow | $573m | $1.30bn |
| Cash | $156m | $1.94bn |
| Total debt | $3.11bn | $12.76bn |
| Debt to equity | 95.7% | 118.8% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $850m | $33.0m |
| Employees | 25,000 | 45,000 |
| Market value | $9.21bn | $27.62bn |
| Price vs our value range | Within our value range | — |
| Moat score | 57 (Moderate) | — |
| Insider trades, 12 months | 1 buys, 10 sales | 5 buys, 41 sales |