Henry Schein management check
HSIC · Health Care · Health Care Distributors · CEO Mr. Bergman
Filings as of
2 good · 3 to watch · 2 flagged, across the seven questions below.
- Watch
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2021 grew to $116, against $144 for the peer group the company picked itself.
- Watch
Does pay follow performance?
Pay only loosely tracked returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.01 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
2.9% of net income$12.0m of reported pay in fiscal 2025, against $419.0m of net income.
- Good
Do they own the stock?
Insiders are buying1 insider bought $692k on the open market in the last six months, with their own money, near the lows.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -3.9% a year over the last three fiscal years. Stock-based pay was 0.3% of revenue in the latest year.
- Flag
Is leadership stable?
14 leadership filings in 3 yearsCEO in the pay table: Mr. Bergman. 14 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Flag
Are the books clean?
Red flags on file1 late-filing notice since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Health Care.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 26 | 26 | |
| Pay for performance | 51 | 85 | |
| CEO cost | 12 | 44 | |
| Skin in the game | 80 | 46 | |
| Dilution | 99 | 68 | |
| Stable leadership | 55 | 70 | |
| Clean books | 30 | 100 |
Closest peers
Others in Health Care Distributors, by management score. Henry Schein is 51st of 60 in its sector.
- 45CAHCardinal Health81
- 150MCKMcKesson72
- 233CORCencora66
- 419HSICHenry Schein50
- 422TECHBio-Techne50
- 431ZBHZimmer Biomet49
Pay versus performance
From the proxy statement filed April 8, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Bergman | $12.0m | $9.8m | $3.3m | $116 | $144 | $419.0m |
| 2024 | — | $11.6m | $7.9m | $3.2m | $107 | $126 | $398.0m |
| 2023 | — | $10.0m | $4.9m | $2.8m | $115 | $122 | $436.0m |
| 2022 | — | $8.3m | $10.0m | $2.9m | $121 | $120 | $566.0m |
| 2021 | — | $10.8m | $28.3m | $3.9m | $114 | $124 | $660.0m |
The board says pay is tied most to Non-GAAP EPS. Its other key measures: Adjusted EPS, Revenues, Adjusted Operating Income, Return on Invested Capital.
Insiders and the CEO's stake
1 insider bought $692k on the open market in the last six months, with their own money, near the lows.
- BoughtWilliam K DanielDirector$692kMay 11, 2026
Leadership and governance on file
- Oct 8, 2026Leadership change8-K 5.02
- Jul 30, 2026Leadership change8-K 5.02
- Jan 12, 2026Leadership change8-K 5.02
- Dec 23, 2025Leadership change8-K 5.02
- Sep 9, 2025Leadership change8-K 5.02
- Jul 15, 2025Leadership change8-K 5.02
- May 16, 2025Leadership change8-K 5.02
- May 2, 2025Leadership change8-K 5.02
- Apr 15, 2025Leadership change8-K 5.02
- Mar 14, 2025Leadership change8-K 5.02
- Jan 29, 2025Leadership change8-K 5.02
- May 24, 2024Leadership change8-K 5.02
Latest shareholder vote results: May 22, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $2.4bn returned to owners in buybacks and dividends, 96% of net income, and $249.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $12.4bn | $12.6bn | $12.3bn | $12.7bn | $13.2bn |
| Net income | $660.0m | $566.0m | $436.0m | $398.0m | $419.0m |
| Stock-based pay | $78.0m | $54.0m | $39.0m | $39.0m | $39.0m |
| Buybacks | $401.0m | $485.0m | $250.0m | $385.0m | $850.0m |
| Dividends | — | — | — | — | — |
| Diluted shares | 142m | 138m | 132m | 128m | 122m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.