InsiderClue
Stocks · Consumer discretionary · Retail-Retail Stores, NEC

Sally Beauty Holdings, Inc.

SBH Clue Score37
United States Fiscal year ends September CIK 0001368458
$15.90 -0.81% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $15.90 +2.71% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue3,938.3Operating income478.6Net income215.1EPS, diluted1.56Fiscal year 2018Revenue3,932.6 −0.1%Operating income426.6Net income258.0 +20.0%EPS, diluted2.08 +33.3%Fiscal year 2019Revenue3,876.4 −1.4%Operating income458.5Net income271.6 +5.3%EPS, diluted2.26 +8.7%Fiscal year 2020Revenue3,514.3 −9.3%Operating income258.8Net income184.6 −32.0%EPS, diluted0.99 −56.2%Fiscal year 2021Revenue3,875.0 +10.3%Operating income418.4Net income239.9 +29.9%EPS, diluted2.10 +112.1%Fiscal year 2022Revenue3,815.6 −1.5%Operating income337.6Net income183.6 −23.5%EPS, diluted1.66 −21.0%Fiscal year 2023Revenue3,728.1 −2.3%Operating income325.0Net income184.6 +0.6%EPS, diluted1.69 +1.8%Fiscal year 2024Revenue3,717.0 −0.3%Operating income282.7Net income153.4 −16.9%EPS, diluted1.43 −15.4%Fiscal year 2025Revenue3,701.4 −0.4%Operating income327.8Net income195.9 +27.7%EPS, diluted1.89 +32.2%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 3,938.3 3,932.6 3,876.4 3,514.3 3,875.0 3,815.6 3,728.1 3,717.0 3,701.4
Growth −0.1% −1.4% −9.3% +10.3% −1.5% −2.3% −0.3% −0.4%
Operating income 478.6 426.6 458.5 258.8 418.4 337.6 325.0 282.7 327.8
Net income 215.1 258.0 271.6 184.6 239.9 183.6 184.6 153.4 195.9
Growth +20.0% +5.3% −32.0% +29.9% −23.5% +0.6% −16.9% +27.7%
EPS, diluted 1.56 2.08 2.26 0.99 2.10 1.66 1.69 1.43 1.89
Growth +33.3% +8.7% −56.2% +112.1% −21.0% +1.8% −15.4% +32.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin49.9%Operating margin12.2%Net margin5.5%Free cash flow margin6.4%Fiscal year 2018Gross margin49.4%Operating margin10.8%Net margin6.6%Free cash flow margin7.3%Fiscal year 2019Gross margin49.3%Operating margin11.8%Net margin7.0%Free cash flow margin5.5%Fiscal year 2020Gross margin48.8%Operating margin7.4%Net margin5.3%Free cash flow margin9.0%Fiscal year 2021Gross margin50.4%Operating margin10.8%Net margin6.2%Free cash flow margin7.9%Fiscal year 2022Gross margin50.3%Operating margin8.8%Net margin4.8%Free cash flow margin1.5%Fiscal year 2023Gross margin50.9%Operating margin8.7%Net margin5.0%Free cash flow margin4.3%Fiscal year 2024Gross margin50.9%Operating margin7.6%Net margin4.1%Free cash flow margin3.9%Fiscal year 2025Gross margin51.6%Operating margin8.9%Net margin5.3%Free cash flow margin4.7%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 49.9% 49.4% 49.3% 48.8% 50.4% 50.3% 50.9% 50.9% 51.6%
Operating margin 12.2% 10.8% 11.8% 7.4% 10.8% 8.8% 8.7% 7.6% 8.9%
Net margin 5.5% 6.6% 7.0% 5.3% 6.2% 4.8% 5.0% 4.1% 5.3%
Free cash flow margin 6.4% 7.3% 5.5% 9.0% 7.9% 1.5% 4.3% 3.9% 4.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow343.3Capital expenditure−89.7Free cash flow253.6Buybacks−346.9Fiscal year 2018Operating cash flow372.7Capital expenditure−86.5Free cash flow286.2 +12.8%Buybacks−166.7Fiscal year 2019Operating cash flow320.4Capital expenditure−107.8Free cash flow212.7 −25.7%Buybacks−47.4Fiscal year 2020Operating cash flow426.9Capital expenditure−110.9Free cash flow316.0 +48.6%Buybacks−61.4Fiscal year 2021Operating cash flow381.9Capital expenditure−73.9Free cash flow308.0 −2.6%Fiscal year 2022Operating cash flow156.5Capital expenditure−99.3Free cash flow57.3 −81.4%Buybacks−130.3Fiscal year 2023Operating cash flow249.3Capital expenditure−90.7Free cash flow158.6 +177.0%Buybacks−15.2Fiscal year 2024Operating cash flow246.5Capital expenditure−101.2Free cash flow145.4 −8.3%Buybacks−60.4Fiscal year 2025Operating cash flow274.8Capital expenditure−102.1Free cash flow172.7 +18.8%Buybacks−54.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 343.3 372.7 320.4 426.9 381.9 156.5 249.3 246.5 274.8
Capital expenditure −89.7 −86.5 −107.8 −110.9 −73.9 −99.3 −90.7 −101.2 −102.1
Free cash flow 253.6 286.2 212.7 316.0 308.0 57.3 158.6 145.4 172.7
Growth +12.8% −25.7% +48.6% −2.6% −81.4% +177.0% −8.3% +18.8%
Buybacks −346.9 −166.7 −47.4 −61.4 n/a −130.3 −15.2 −60.4 −54.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash63.8Total debt1,891.5Net cash (debt)−1,827.7Shareholders’ equity−363.6Fiscal year 2018Cash77.3Total debt1,794.5Net cash (debt)−1,717.2Shareholders’ equity−268.6Fiscal year 2019Cash71.5Total debt1,609.3Net cash (debt)−1,537.8Shareholders’ equity−60.3Fiscal year 2020Cash514.2Total debt1,813.2Net cash (debt)−1,299.0Shareholders’ equity15.4Debt to equity117.41Fiscal year 2021Cash401.0Total debt1,393.0Net cash (debt)−992.0Shareholders’ equity280.7Debt to equity4.96Fiscal year 2022Cash70.6Total debt1,087.5Net cash (debt)−1,016.9Shareholders’ equity293.6Debt to equity3.70Fiscal year 2023Cash123.0Total debt1,078.0Net cash (debt)−955.0Shareholders’ equity508.7Debt to equity2.12Fiscal year 2024Cash108.0Total debt994.0Net cash (debt)−886.0Shareholders’ equity628.5Debt to equity1.58Fiscal year 2025Cash149.2Total debt875.0Net cash (debt)−725.8Shareholders’ equity794.2Debt to equity1.10
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 63.8 77.3 71.5 514.2 401.0 70.6 123.0 108.0 149.2
Total debt 1,891.5 1,794.5 1,609.3 1,813.2 1,393.0 1,087.5 1,078.0 994.0 875.0
Net cash (debt) −1,827.7 −1,717.2 −1,537.8 −1,299.0 −992.0 −1,016.9 −955.0 −886.0 −725.8
Shareholders’ equity −363.6 −268.6 −60.3 15.4 280.7 293.6 508.7 628.5 794.2
Debt to equity n/a n/a n/a 117.41 4.96 3.70 2.12 1.58 1.10

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 30 Sep 2018 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Revenue and profit
3,938.3 3,932.6 3,876.4 3,514.3 3,875.0 3,815.6 3,728.1 3,717.0 3,701.4
Growth −0.1% −1.4% −9.3% +10.3% −1.5% −2.3% −0.3% −0.4%
1,973.4 1,988.2 1,965.9 1,798.7 1,921.7 1,896.4 1,830.0 1,826.7 1,790.7
1,964.9 1,944.4 1,910.5 1,715.6 1,953.3 1,919.2 1,898.2 1,890.3 1,910.7
Growth −1.0% −1.7% −10.2% +13.9% −1.7% −1.1% −0.4% +1.1%
1,463.6 1,484.2 1,452.8 1,442.8 1,530.3 1,553.9 1,555.9 1,607.7 1,582.9
478.6 426.6 458.5 258.8 418.4 337.6 325.0 282.7 327.8
Growth −10.9% +7.5% −43.6% +61.7% −19.3% −3.7% −13.0% +15.9%
345.7 328.4 362.2 160.0 324.9 244.1 252.1 206.3 263.4
130.6 70.4 90.5 46.7 85.1 60.5 67.5 52.9 67.5
215.1 258.0 271.6 184.6 239.9 183.6 184.6 153.4 195.9
Growth +20.0% +5.3% −32.0% +29.9% −23.5% +0.6% −16.9% +27.7%
Per share
1.56 2.09 2.27 0.99 2.13 1.69 1.72 1.48 1.95
1.56 2.08 2.26 0.99 2.10 1.66 1.69 1.43 1.89
Growth +33.3% +8.7% −56.2% +112.1% −21.0% +1.8% −15.4% +32.2%
137.5 123.2 119.6 113.9 112.7 108.7 107.3 103.9 100.7
138.2 123.8 120.3 114.7 114.2 110.3 109.3 106.9 103.8
Growth −10.4% −2.9% −4.7% −0.4% −3.4% −0.9% −2.2% −2.9%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 1.0% a year over five years, and earnings per share grew 13.8% a year.
  • The diluted share count fell 9.5% in five years, so buybacks did some of the work per share.
  • Operating margin is up 1.5 points on five years ago, at 8.9%.
  • Profitable in every one of the 9 years on file.