Sally Beauty Holdings, Inc. SBH
Sally Beauty Holdings, Inc. is a leading international specialty retailer and distributor of professional beauty supplies. As experts in hair color and care, we aim to empower our customers to express themselves through their hair and beyond. We operate two business segments that offer beauty products in key categories, including hair care, hair color, styling tools and nails.
Sally Beauty ("Sally") – An omni-channel retailer that offers professional-quality beauty supplies at attractive prices and provides education to retail consumers and salon professionals throughout North America, South America and Europe. Sally operates primarily through retail stores (generally operating under the Sally Beauty banner) and digital platforms, including our www.sallybeauty.com website, a mobile commerce-based app, and third-party digital marketplaces.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.70B | $3.72B | $3.73B | $3.82B | $3.87B | $3.51B | $3.88B | $3.93B | $3.94B | $3.95B |
| Cost of revenue | $1.79B | $1.83B | $1.83B | $1.90B | $1.92B | $1.80B | $1.97B | $1.99B | $1.97B | $1.99B |
| Gross profit | $1.91B | $1.89B | $1.90B | $1.92B | $1.95B | $1.72B | $1.91B | $1.94B | $1.96B | $1.96B |
| SG&A | $1.58B | $1.61B | $1.56B | $1.55B | $1.53B | $1.44B | $1.45B | $1.48B | $1.46B | $1.47B |
| Operating income | $327.8M | $282.7M | $325.0M | $337.6M | $418.4M | $258.8M | $458.5M | $426.6M | $478.6M | $498.3M |
| Interest expense | $64.4M | $76.4M | $73.0M | $93.5M | $93.5M | $98.8M | $96.3M | $98.2M | $132.9M | $144.2M |
| Pre-tax income | $263.4M | $206.3M | $252.1M | $244.1M | $324.9M | $160.0M | $362.2M | $328.4M | $345.7M | $354.1M |
| Income tax | $67.5M | $52.9M | $67.5M | $60.5M | $85.1M | $46.7M | $90.5M | $70.4M | $130.6M | $131.1M |
| Net income | $195.9M | $153.4M | $184.6M | $183.6M | $239.9M | $184.6M | $271.6M | $258.0M | $215.1M | $222.9M |
| EPS, basic | 1.95 | 1.48 | 1.72 | 1.69 | 2.13 | 0.99 | 2.27 | 2.09 | 1.56 | 1.51 |
| EPS, diluted | 1.89 | 1.43 | 1.69 | 1.66 | 2.10 | 0.99 | 2.26 | 2.08 | 1.56 | 1.50 |
| Shares, diluted (wtd. avg.) | $103.8M | $106.9M | $109.3M | $110.3M | $114.2M | $114.7M | $120.3M | $123.8M | $138.2M | $148.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $149.2M | $108.0M | $123.0M | $70.6M | $401.0M | $514.2M | $71.5M | $77.3M | $63.8M | $86.6M |
| Receivables | $31.8M | $33.6M | $33.4M | $34.1M | $32.6M | $35.6M | $43.1M | $48.4M | $47.0M | $46.9M |
| Inventory | $987.6M | $1.04B | $975.2M | $936.4M | $871.3M | $814.5M | $952.9M | $944.3M | $930.9M | $907.3M |
| Total current assets | $1.30B | $1.31B | $1.23B | $1.13B | $1.38B | $1.43B | $1.16B | $1.16B | $1.14B | $1.17B |
| Property, plant and equipment | $284.3M | $269.9M | $297.8M | $297.9M | $307.4M | $315.0M | $319.6M | $308.4M | $313.7M | $319.6M |
| Goodwill | $540.7M | $538.3M | $533.1M | $526.1M | $541.2M | $540.0M | $530.8M | $535.9M | $537.8M | $532.7M |
| Other intangibles | $53.0M | $60.0M | $55.2M | $50.3M | $55.5M | $58.3M | $62.1M | $72.7M | $80.3M | $93.0M |
| Total assets | $2.87B | $2.79B | $2.73B | $2.58B | $2.85B | $2.90B | $2.10B | $2.10B | $2.10B | $2.10B |
| Accounts payable | $224.5M | $269.4M | $258.9M | $275.7M | $291.6M | $236.3M | $278.7M | $303.2M | $307.8M | $271.4M |
| Total current liabilities | $576.0M | $592.7M | $579.3M | $667.9M | $664.9M | $563.4M | $456.1M | $491.2M | $572.6M | $488.7M |
| Long-term debt | $875.0M | $994.0M | $1.08B | $1.09B | $1.39B | $1.81B | $1.61B | $1.79B | $1.89B | $1.80B |
| Total liabilities | $2.08B | $2.16B | $2.22B | $2.28B | $2.57B | $2.88B | $2.16B | $2.37B | $2.46B | $2.41B |
| Retained earnings | $898.1M | $740.7M | $624.8M | $440.2M | $357.0M | $117.1M | $55.8M | -$179.8M | -$283.1M | -$177.6M |
| Total equity | $794.2M | $628.5M | $508.7M | $293.6M | $280.7M | $15.4M | -$60.3M | -$268.6M | -$363.6M | -$276.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $274.8M | $246.5M | $249.3M | $156.5M | $381.9M | $426.9M | $320.4M | $372.7M | $343.3M | $354.1M |
| Depreciation and amortisation | $99.9M | $109.7M | $102.4M | $99.9M | $102.2M | $106.8M | $107.7M | $108.8M | $112.3M | $99.7M |
| Stock-based compensation | $19.2M | $17.2M | $15.9M | $9.9M | $11.7M | $8.4M | $9.2M | $10.5M | $10.5M | $12.6M |
| Capital expenditure | $102.1M | $101.2M | $90.7M | $99.2M | $73.9M | $110.9M | $107.8M | $86.5M | $89.7M | $151.2M |
| Investing cash flow | -$58.3M | -$108.9M | -$99.8M | -$102.4M | -$76.0M | -$123.8M | -$95.9M | -$95.3M | -$89.6M | -$174.8M |
| Financing cash flow | -$178.4M | -$153.7M | -$100.8M | -$373.7M | -$420.0M | $139.8M | -$229.3M | -$263.3M | -$277.3M | -$232.1M |
| Buybacks | $54.0M | $60.4M | $15.2M | $130.3M | — | $61.4M | $47.4M | $166.7M | $346.9M | $209.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-25-280122.
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