HSIC · 10-Q · 2026Q3 · Full report

Working Capital and Inventory Trends

HENRY SCHEIN INC · 2026-11-03 · Importance 25 · Surprise 32

Accounts-receivable days sales outstanding from operations increased to 46.6 days at September 26, 2026, from 45.3 days at September 27, 2025. Inventory turns from operations declined to 4.6 from 4.8 over the same dates. During the nine months ended September 26, 2026, the company wrote off approximately $9 million of fully reserved accounts receivable against its trade receivable reserve. Accounts receivable serving as security for the U.S. trade accounts receivable securitization were $606 million at September 26, 2026, compared with $491 million at December 27, 2025.

Key facts

• Henry Schein's working capital was $1,178 million at September 26, 2026 and $1,236 million at December 27, 2025. source
• Accounts receivable days sales outstanding from operations increased to 46.6 days as of September 26, 2026, from 45.3 days as of September 27, 2025. source
• During the nine months ended September 26, 2026, Henry Schein wrote off approximately $9 million of fully reserved accounts receivable against its trade receivable reserve. source
• Inventory turns from operations decreased to 4.6 as of September 26, 2026, from 4.8 as of September 27, 2025. source
• Henry Schein’s working-capital requirements are generally higher from the end of the third quarter to the end of the first quarter of the following year because sales tend to be stronger in the second half and inventory forward-buy opportunities are common before year-end. source
• Henry Schein’s business requires substantial working-capital investment, which fluctuates during the year with inventory purchasing patterns and seasonal demand. source
• Henry Schein’s inventory purchases depend on sales activity, special forward-buy opportunities, and desired inventory levels. source
• Henry Schein's working capital accounts may be impacted by current and future economic conditions. source