Henry Schein Inc (HSIC)
Cash conversion cycle
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 54.83 | 53.32 | 50.61 | 51.84 | 56.46 | 75.39 | 76.73 | 80.67 | 82.09 | 55.90 | 55.53 | 57.24 | 58.10 | 77.29 | 75.98 | 84.25 | 83.58 | 80.94 | 78.29 | 67.80 |
| Days of sales outstanding (DSO) | days | 42.89 | 48.83 | 46.00 | 48.60 | 55.50 | 45.50 | 42.74 | — | 41.76 | 43.75 | 40.50 | 41.71 | 42.79 | 46.33 | 41.70 | 45.42 | 51.53 | 52.54 | 42.55 | 42.86 |
| Number of days of payables | days | 29.14 | 31.19 | 26.48 | 27.03 | 31.73 | 39.20 | 34.01 | 35.96 | 41.99 | 29.43 | 27.44 | 27.96 | 32.91 | 45.80 | 40.68 | 47.12 | 55.58 | 55.69 | 40.91 | 39.85 |
| Cash conversion cycle | days | 68.58 | 70.96 | 70.13 | 73.41 | 80.23 | 81.70 | 85.45 | 44.71 | 81.87 | 70.22 | 68.59 | 70.99 | 67.99 | 77.82 | 77.00 | 82.54 | 79.54 | 77.78 | 79.93 | 70.81 |
December 31, 2024 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 54.83 + 42.89 – 29.14
= 68.58
The cash conversion cycle of Henry Schein Inc has shown some fluctuations over the provided time period. Starting from approximately 70.81 days in March 2020, the cycle increased to around 82.54 days by March 2021, indicating a longer period to convert investments in inventory back into cash.
However, the trend reversed from March 2021 to December 2021, with the cycle decreasing to 67.99 days, reflecting an improvement in the efficiency of managing cash flows. Thereafter, the cycle fluctuated around the 70-day mark until June 2022.
A notable decrease in the cash conversion cycle was observed in March 2023, dropping to 44.71 days, suggesting improved efficiency in converting inventory into cash. This trend was followed by fluctuations in the cycle for the rest of 2023 and into 2024, always remaining below the 80-day mark.
Overall, the cash conversion cycle of Henry Schein Inc has shown variations but generally remained at manageable levels, indicating the company's ability to efficiently manage its cash flows and inventory turnover during the specified periods.
Peer comparison
Dec 31, 2024