Henry Schein (HSIC) · Q3 2026 results and valuation

At 1.4% growth a year (3-year revenue growth), the model's fair value is $35.59 a share — the stock trades 148% above it. Today's price assumes 9.5% growth a year.

1. Figure

   7% local currency internal sales growth in Henry Schein's U.S

   Source quote

   “This reflects local currency internal sales growth of 3.1%, a 0.2% increase resulting from foreign currency exchange and 0.7% sales... Global sales were $3.5 billion, with total sales growth of 4.0% compared to the third quarter of 2025. What stood out especially in the quarter was the 7% local currency internal sales growth in our U.S.”

2. Guidance

   Henry Schein now expects 2026 non-GAAP diluted EPS attributable to Henry Schein Inc.

3. Fading

   Henry Schein looks at the value creation initiatives

   Source quote

   “And as we look at the value creation initiatives, our guidance takes into account a range of potential outcomes.”

Script and answers carried a similar tone, so the script's message held up under questioning.

Sentences that drove the tone

“We're gaining share, expanding margins, and delivering strong underlying earnings growth.”

“dental merchandise sales grew 8.6%, with local currency internal sales growth of 7%, as growth continued to accelerate.”

“Growth was driven by Dentrix Ascend and Ventali, our cloud-based practice management platforms, as well as good growth in revenue cycle management, supported by increased claims volume.”