Sally Beauty Hldgs Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Sally Beauty Hldgs has an operating margin of 8.9%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 44/100, indicating healthy but not exceptional operating efficiency. This is up from 7.6% the prior year.
Sally Beauty Hldgs's revenue declined 0.4% year-over-year, from $3.7B to $3.7B. This contraction results in a growth score of 27/100.
Sally Beauty Hldgs carries a low D/E ratio of 1.10, meaning only $1.10 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 70/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.26, Sally Beauty Hldgs holds $2.26 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 70/100.
Sally Beauty Hldgs's free cash flow margin of 4.7% results in a low score of 23/100. Capital expenditures of $102.1M absorb a large share of operating cash flow.
Sally Beauty Hldgs earns a strong 24.7% return on equity (ROE), meaning it generates $25 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 99/100. This is up from 24.4% the prior year.
Sally Beauty Hldgs scores 2.86, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Sally Beauty Hldgs passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Sally Beauty Hldgs generates $1.40 in operating cash flow ($274.8M OCF vs $195.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Sally Beauty Hldgs earns $5.1 in operating income for every $1 of interest expense ($327.8M vs $64.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Sally Beauty Hldgs (SBH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Sally Beauty Hldgs generated $3.7B in revenue in fiscal year 2025. This represents a decrease of 0.4% from the prior year.
Sally Beauty Hldgs's EBITDA was $427.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.0% from the prior year.
Sally Beauty Hldgs generated $172.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 18.8% from the prior year.
Sally Beauty Hldgs reported $195.9M in net income in fiscal year 2025. This represents an increase of 27.7% from the prior year.
Sally Beauty Hldgs earned $1.89 per diluted share (EPS) in fiscal year 2025. This represents an increase of 32.2% from the prior year.
Sally Beauty Hldgs held $149.2M in cash against $875.0M in long-term debt as of fiscal year 2025.
Sally Beauty Hldgs had 97M shares outstanding in fiscal year 2025. This represents a decrease of 4.3% from the prior year.
Sally Beauty Hldgs's gross margin was 51.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the prior year.
Sally Beauty Hldgs's operating margin was 8.9% in fiscal year 2025, reflecting core business profitability. This is up 1.2 percentage points from the prior year.
Sally Beauty Hldgs's net profit margin was 5.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.2 percentage points from the prior year.
Sally Beauty Hldgs's ROE was 24.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the prior year.
Sally Beauty Hldgs spent $54.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 10.6% from the prior year.
Sally Beauty Hldgs invested $102.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1.0% from the prior year.
SBH Income Statement
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $943K-99.9% | $943.2M+1.1% | $933.3M+5.7% | $883.1M-5.8% | $937.9M-0.5% | $942.3M+3.7% | $908.4M-2.5% | $931.3M |
| Cost of Revenue | $460K-99.9% | $459.9M+1.7% | $452.3M+6.6% | $424.3M-8.0% | $461.1M-0.1% | $461.5M+3.6% | $445.3M-4.1% | $464.1M |
| Gross Profit | $483K-99.9% | $483.3M+0.5% | $481.0M+4.8% | $458.8M-3.8% | $476.8M-0.8% | $480.9M+3.8% | $463.1M-0.9% | $467.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $407K-99.9% | $407.3M+1.1% | $402.8M+3.4% | $389.4M+3.4% | $376.5M-7.9% | $408.7M+1.3% | $403.4M+1.3% | $398.1M |
| Operating Income | $76K-99.9% | $75.9M-2.9% | $78.2M+12.7% | $69.4M-30.8% | $100.3M+39.8% | $71.8M+20.5% | $59.6M-13.8% | $69.1M |
| Interest Expense | $15K-99.9% | $14.6M-6.9% | $15.7M-3.6% | $16.3M-6.6% | $17.4M-15.8% | $20.7M+0.9% | $20.5M+18.5% | $17.3M |
| Income Tax | $16K-99.9% | $15.8M-5.9% | $16.7M+20.7% | $13.9M-36.5% | $21.9M+63.9% | $13.3M+36.0% | $9.8M-26.9% | $13.4M |
| Net Income | $46K-99.9% | $45.6M-0.4% | $45.7M+16.6% | $39.2M-35.7% | $61.0M+61.7% | $37.7M+29.0% | $29.2M-23.8% | $38.4M |
| EPS (Diluted) | $0.450.0% | $0.45+2.3% | $0.44+15.8% | $0.38-34.5% | $0.58+61.1% | $0.36+33.3% | $0.27-22.9% | $0.35 |
SBH Balance Sheet
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.9M-99.9% | $2.9B+3.9% | $2.7B+1.4% | $2.7B-0.2% | $2.7B-2.9% | $2.8B+1.7% | $2.7B+0.6% | $2.7B |
| Current Assets | $1.3M-99.9% | $1.3B+1.9% | $1.3B+1.8% | $1.2B-0.6% | $1.2B-4.5% | $1.3B+2.0% | $1.3B+1.4% | $1.3B |
| Cash & Equivalents | $157K-99.9% | $157.2M+39.3% | $112.8M+22.4% | $92.2M-12.7% | $105.5M-2.3% | $108.0M+11.1% | $97.2M-19.7% | $121.0M |
| Inventory | $979K-99.9% | $978.8M-2.6% | $1.0B-0.1% | $1.0B+0.1% | $1.0B-3.0% | $1.0B-0.3% | $1.0B+3.2% | $1.0B |
| Accounts Receivable | $27K-99.9% | $26.8M-9.8% | $29.7M+8.9% | $27.3M+2.8% | $26.6M-21.0% | $33.6M-3.0% | $34.7M+7.9% | $32.2M |
| Goodwill | $542K-99.9% | $541.5M+0.1% | $541.0M+1.3% | $534.2M+0.5% | $531.4M-1.3% | $538.3M+0.7% | $534.5M-0.4% | $536.7M |
| Total Liabilities | $2.0M-99.9% | $2.0B+2.3% | $2.0B-1.2% | $2.0B-2.3% | $2.1B-5.1% | $2.2B-1.4% | $2.2B+0.3% | $2.2B |
| Current Liabilities | $542K-99.9% | $542.2M+3.5% | $523.8M-1.8% | $533.3M-2.8% | $548.6M-7.4% | $592.7M-7.9% | $643.8M+12.3% | $573.1M |
| Long-Term Debt | $600K-99.9% | $855.0M-4.6% | $896.0M-2.3% | $917.0M-3.8% | $953.0M-4.1% | $994.0M-0.2% | $996.0M-7.5% | $1.1B |
| Total Equity | $824K-99.9% | $823.6M+8.0% | $762.9M+9.0% | $699.8M+6.6% | $656.5M+4.4% | $628.5M+14.1% | $550.9M+1.8% | $541.3M |
| Retained Earnings | $923K-99.9% | $923.3M+7.0% | $863.3M+4.5% | $826.2M+4.2% | $792.6M+7.0% | $740.7M+11.1% | $666.6M+2.2% | $652.2M |
SBH Cash Flow Statement
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $93K-99.9% | $93.2M+34.3% | $69.4M+36.0% | $51.1M+52.6% | $33.5M-69.8% | $110.7M+199.6% | $36.9M-27.6% | $51.0M |
| Capital Expenditures | $36K-99.9% | $35.8M+76.3% | $20.3M+7.4% | $18.9M-5.9% | $20.1M-46.3% | $37.4M+164.8% | $14.1M-53.8% | $30.6M |
| Free Cash Flow | $57K-99.9% | $57.5M+16.9% | $49.1M+52.7% | $32.2M+140.5% | $13.4M-81.8% | $73.3M+221.1% | $22.8M+11.5% | $20.5M |
| Investing Cash Flow | $36K+100.1% | -$35.8M-108.4% | -$17.2M+9.1% | -$18.9M-181.7% | $23.1M+151.5% | -$44.9M-218.1% | -$14.1M+54.1% | -$30.8M |
| Financing Cash Flow | $48K+100.1% | -$47.9M-40.0% | -$34.2M+25.6% | -$46.0M+20.2% | -$57.7M-3.2% | -$55.9M-21.1% | -$46.2M-102.7% | -$22.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $21K-99.9% | $20.8M+57.8% | $13.2M+28.4% | $10.2M+2.9% | $9.9M+0.6% | $9.9M-51.0% | $20.2M0.0% | $20.2M |
SBH Financial Ratios
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 51.2%0.0pp | 51.2%-0.3pp | 51.5%-0.4pp | 51.9%+1.1pp | 50.8%-0.2pp | 51.0%+0.0pp | 51.0%+0.8pp | 50.2% |
| Operating Margin | 8.1%0.0pp | 8.1%-0.3pp | 8.4%+0.5pp | 7.9%-2.8pp | 10.7%+3.1pp | 7.6%+1.1pp | 6.6%-0.9pp | 7.4% |
| Net Margin | 4.8%0.0pp | 4.8%-0.1pp | 4.9%+0.5pp | 4.4%-2.1pp | 6.5%+2.5pp | 4.0%+0.8pp | 3.2%-0.9pp | 4.1% |
| Return on Equity | 5.5%0.0pp | 5.5%-0.5pp | 6.0%+0.4pp | 5.6%-3.7pp | 9.3%+2.8pp | 6.5%+1.2pp | 5.3%-1.8pp | 7.1% |
| Return on Assets | 1.6%0.0pp | 1.6%-0.1pp | 1.7%+0.2pp | 1.5%-0.8pp | 2.3%+0.9pp | 1.4%+0.3pp | 1.1%-0.3pp | 1.4% |
| Current Ratio | 2.370.0 | 2.37-0.0 | 2.41+0.1 | 2.32+0.1 | 2.27+0.1 | 2.20+0.2 | 1.99-0.2 | 2.20 |
| Debt-to-Equity | 0.73-0.3 | 1.04-0.1 | 1.17-0.1 | 1.31-0.1 | 1.45-0.1 | 1.58-0.2 | 1.81-0.2 | 1.99 |
| FCF Margin | 6.1%0.0pp | 6.1%+0.8pp | 5.3%+1.6pp | 3.6%+2.2pp | 1.4%-1.6pp | 3.0%+0.5pp | 2.5%+0.3pp | 2.2% |
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Frequently Asked Questions
What is Sally Beauty Hldgs's annual revenue?
Sally Beauty Hldgs (SBH) reported $3.7B in total revenue for fiscal year 2025. This represents a -0.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Sally Beauty Hldgs's revenue growing?
Sally Beauty Hldgs (SBH) revenue declined by 0.4% year-over-year, from $3.7B to $3.7B in fiscal year 2025.
Is Sally Beauty Hldgs profitable?
Yes, Sally Beauty Hldgs (SBH) reported a net income of $195.9M in fiscal year 2025, with a net profit margin of 5.3%.
What is Sally Beauty Hldgs's earnings per share (EPS)?
Sally Beauty Hldgs (SBH) reported diluted earnings per share of $1.89 for fiscal year 2025. This represents a 32.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Sally Beauty Hldgs's EBITDA?
Sally Beauty Hldgs (SBH) had EBITDA of $427.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Sally Beauty Hldgs have?
As of fiscal year 2025, Sally Beauty Hldgs (SBH) had $149.2M in cash and equivalents against $875.0M in long-term debt.
What is Sally Beauty Hldgs's gross margin?
Sally Beauty Hldgs (SBH) had a gross margin of 51.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Sally Beauty Hldgs's operating margin?
Sally Beauty Hldgs (SBH) had an operating margin of 8.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Sally Beauty Hldgs's net profit margin?
Sally Beauty Hldgs (SBH) had a net profit margin of 5.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Sally Beauty Hldgs's return on equity (ROE)?
Sally Beauty Hldgs (SBH) has a return on equity of 24.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sally Beauty Hldgs's free cash flow?
Sally Beauty Hldgs (SBH) generated $172.7M in free cash flow during fiscal year 2025. This represents a 18.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Sally Beauty Hldgs's operating cash flow?
Sally Beauty Hldgs (SBH) generated $274.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sally Beauty Hldgs's total assets?
Sally Beauty Hldgs (SBH) had $2.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Sally Beauty Hldgs's capital expenditures?
Sally Beauty Hldgs (SBH) invested $102.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Sally Beauty Hldgs buy back shares?
Yes, Sally Beauty Hldgs (SBH) spent $54.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Sally Beauty Hldgs have outstanding?
Sally Beauty Hldgs (SBH) had 97M shares outstanding as of fiscal year 2025.
What is Sally Beauty Hldgs's current ratio?
Sally Beauty Hldgs (SBH) had a current ratio of 2.26 as of fiscal year 2025, which is generally considered healthy.
What is Sally Beauty Hldgs's debt-to-equity ratio?
Sally Beauty Hldgs (SBH) had a debt-to-equity ratio of 1.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sally Beauty Hldgs's return on assets (ROA)?
Sally Beauty Hldgs (SBH) had a return on assets of 6.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sally Beauty Hldgs's Altman Z-Score?
Sally Beauty Hldgs (SBH) has an Altman Z-Score of 2.86, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Sally Beauty Hldgs's Piotroski F-Score?
Sally Beauty Hldgs (SBH) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sally Beauty Hldgs's earnings high quality?
Sally Beauty Hldgs (SBH) has an earnings quality ratio of 1.40x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Sally Beauty Hldgs cover its interest payments?
Sally Beauty Hldgs (SBH) has an interest coverage ratio of 5.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Sally Beauty Hldgs?
Sally Beauty Hldgs (SBH) scores 56 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.