Note 22 – Earnings Per Share
Basic earnings per share is computed by dividing net income attributable
to Henry Schein, Inc. by the weighted-
average number of common shares outstanding for the period.
Our diluted earnings per share is computed similarly
to basic earnings per share, except that it reflects the effect of common shares issuable
for unvested RSUs and upon
exercise of stock options using the treasury stock method in periods
in which they have a dilutive effect.
A reconciliation of shares used in calculating earnings per basic and
diluted share follows:
Years
Ended
December 27,
December 28,
December 30,
2025
2024
2023
Basic
120,813,977
126,788,997
130,618,990
Effect of dilutive securities:
Stock options and restricted stock units
903,899
990,231
1,129,181
Diluted
121,717,876
127,779,228
131,748,171
The number of antidilutive securities that were excluded from the calculation
of diluted weighted average common
shares outstanding are as follows:
Years
Ended
December 27,
December 28,
December 30,
2025
2024
2023
Stock options
396,052
406,676
424,695
Restricted stock units
6,200
9,287
15,040
Total anti-dilutive
securities excluded from earnings per share
computation
402,252
415,963
439,735

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 25, 2025
2023Feb 28, 2024
2022Feb 21, 2023
2021Feb 15, 2022
2020Feb 17, 2021
2019Feb 20, 2020
2018Feb 21, 2018
2016Feb 21, 2017
2015Feb 10, 2016

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.