Sally Beauty (SBH) Financials

$12.18 -0.32 (-2.54%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$12.23 +0.05 (+0.40%)

As of 07:57 AM Eastern

Annual Income Statements for Sally Beauty

This table shows Sally Beauty's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	235	223	215	258	272	113	240	184	185	153	196
Consolidated Net Income / (Loss)	235	223	215	258	272	113	240	184	185	153	196
Net Income / (Loss) Continuing Operations	235	223	215	258	272	113	240	184	185	153	196
Total Pre-Tax Income	378	354	346	328	362	160	325	244	252	206	263
Total Operating Income	495	498	479	427	458	259	418	338	325	283	328
Total Gross Profit	1,898	1,964	1,965	1,944	1,911	1,716	1,953	1,919	1,898	1,890	1,911
Total Revenue	3,834	3,953	3,938	3,933	3,876	3,514	3,875	3,816	3,728	3,717	3,701
Operating Revenue	3,834	3,953	3,938	3,933	3,876	3,514	3,875	3,816	3,728	3,717	3,701
Total Cost of Revenue	1,936	1,989	1,973	1,988	1,966	1,799	1,922	1,896	1,830	1,827	1,791
Operating Cost of Revenue	1,936	1,989	1,973	1,988	1,966	1,799	1,922	1,896	1,830	1,827	1,791
Total Operating Expenses	1,403	1,466	1,486	1,518	1,452	1,457	1,535	1,582	1,573	1,608	1,583
Selling, General & Admin Expense	1,313	1,466	1,464	1,484	1,453	1,443	1,530	1,554	1,556	1,608	1,583
Restructuring Charge	-	-	23	34	-0.68	14	4.61	28	17	-0.08	0.00
Total Other Income / (Expense), net	-117	-144	-133	-98	-96	-99	-94	-94	-73	-76	-64
Interest Expense	117	144	133	98	96	99	94	94	73	76	64
Income Tax Expense	143	131	131	70	91	47	85	61	67	53	68
Basic Earnings per Share	$1.50	$1.51	$1.56	$2.09	$2.27	$0.99	$2.13	$1.69	$1.72	$1.48	$1.95
Weighted Average Basic Shares Outstanding	156.35M	147.18M	137.53M	123.19M	119.64M	113.88M	112.65M	108.67M	107.33M	103.94M	100.66M
Diluted Earnings per Share	$1.49	$1.50	$1.56	$2.08	$2.26	$0.99	$2.10	$1.66	$1.69	$1.43	$1.89
Weighted Average Diluted Shares Outstanding	158.23M	148.80M	138.18M	123.83M	120.28M	114.68M	114.21M	110.29M	109.34M	106.93M	103.82M
Weighted Average Basic & Diluted Shares Outstanding	156.70M	147.60M	137.90M	123.50M	116.33M	112.82M	113.05M	107.04M	106.28M	101.88M	97.50M

This table shows Sally Beauty's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	43	38	29	38	48	61	39	46	50	46	43
Consolidated Net Income / (Loss)	43	38	29	38	48	61	39	46	50	46	43
Net Income / (Loss) Continuing Operations	43	38	29	38	48	61	39	46	50	46	43
Total Pre-Tax Income	57	52	39	51	64	83	53	62	65	61	58
Total Operating Income	77	69	60	72	82	100	69	78	80	76	72
Total Gross Profit	467	467	463	481	479	477	459	481	494	483	476
Total Revenue	921	931	908	942	935	938	883	933	947	943	903
Operating Revenue	921	931	908	942	935	938	883	933	947	943	903
Total Cost of Revenue	455	464	445	461	456	461	424	452	453	460	428
Operating Cost of Revenue	455	464	445	461	456	461	424	452	453	460	428
Total Operating Expenses	390	398	403	409	397	377	389	403	414	407	404
Selling, General & Admin Expense	391	398	403	409	397	377	389	403	414	407	404
Total Other Income / (Expense), net	-20	-17	-21	-21	-18	-17	-16	-16	-15	-15	-14
Interest Expense	20	17	21	21	18	17	16	16	15	15	14
Income Tax Expense	15	13	9.81	13	16	22	14	17	15	16	15
Basic Earnings per Share	$0.40	$0.36	$0.28	$0.37	$0.47	$0.60	$0.39	$0.46	$0.50	$0.47	$0.44
Weighted Average Basic Shares Outstanding	107.33M	105.95M	104.28M	103.19M	103.94M	102.02M	101.61M	100.46M	100.66M	97.80M	96.73M
Diluted Earnings per Share	$0.40	$0.35	$0.27	$0.36	$0.45	$0.58	$0.38	$0.44	$0.49	$0.45	$0.43
Weighted Average Diluted Shares Outstanding	109.34M	108.72M	107.08M	105.90M	106.93M	104.97M	104.44M	103.24M	103.82M	100.77M	99.72M
Weighted Average Basic & Diluted Shares Outstanding	106.28M	-	103.51M	102.64M	101.88M	101.95M	100.89M	98.94M	97.50M	97.01M	95.41M

This table details how cash moves in and out of Sally Beauty's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	33	-53	-23	14	-5.80	443	-113	-330	52	-15	41
Net Cash From Operating Activities	301	354	343	373	320	427	382	157	249	247	275
Net Cash From Continuing Operating Activities	301	354	343	373	320	427	382	157	249	247	276
Net Income / (Loss) Continuing Operations	235	223	215	258	272	113	240	184	185	153	196
Consolidated Net Income / (Loss)	235	223	215	258	272	113	240	184	185	153	196
Depreciation Expense	89	100	112	109	108	107	102	100	102	110	100
Amortization Expense	3.79	3.26	3.26	3.83	3.79	4.12	4.21	3.35	2.69	2.44	2.11
Non-Cash Adjustments To Reconcile Net Income	-2.74	46	47	12	2.59	12	16	51	22	21	-1.42
Changes in Operating Assets and Liabilities, net	-25	-18	-34	-9.62	-65	191	19	-182	-62	-40	-21
Net Cash From Investing Activities	-113	-175	-90	-95	-96	-124	-76	-102	-100	-109	-58
Net Cash From Continuing Investing Activities	-113	-175	-90	-95	-96	-124	-76	-102	-100	-109	-58
Purchase of Property, Plant & Equipment	-107	-151	-90	-87	-108	-111	-74	-99	-91	-101	-102
Acquisitions	-6.47	-26	-	-9.18	-3.42	-13	-2.35	-3.17	-9.03	-7.75	-2.84
Sale of Property, Plant & Equipment	0.18	2.53	0.04	0.37	15	0.05	0.24	0.00	0.00	0.00	44
Divestitures	-	-	-	-	-	-	-	-	0.00	0.00	3.13
Net Cash From Financing Activities	-152	-232	-277	-263	-229	140	-420	-374	-101	-154	-178
Net Cash From Continuing Financing Activities	-152	-232	-277	-263	-229	140	-420	-374	-101	-154	-178
Repayment of Debt	-1.81	-951	-1,225	-560	-778	-889	-424	-770	-1,376	-1,635	-623
Repurchase of Common Equity	-228	-209	-347	-167	-47	-61	0.00	-130	-15	-60	-54
Issuance of Debt	0.98	912	1,277	462	594	1,088	0.02	520	1,290	1,541	502
Issuance of Common Equity	-	-	-	-	-	-	-	8.11	1.89	1.76	1.50
Other Financing Activities, net	76	16	17	1.35	2.16	2.79	3.57	-1.18	-1.17	-1.77	-5.28
Effect of Exchange Rate Changes	-2.55	-0.56	-	-	-1.04	-	0.94	-11	3.73	1.08	3.08
Cash Interest Paid	113	139	142	90	95	83	89	82	72	87	64
Cash Income Taxes Paid	108	124	115	70	84	50	80	83	64	36	94

This table details how cash moves in and out of Sally Beauty's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	49	-2.00	-24	0.20	11	-2.43	-13	21	36	8.02	0.22
Net Cash From Operating Activities	117	51	37	48	111	33	51	69	121	93	73
Net Cash From Continuing Operating Activities	117	51	37	48	111	33	51	69	122	93	73
Net Income / (Loss) Continuing Operations	43	38	29	38	48	61	39	46	50	46	43
Consolidated Net Income / (Loss)	43	38	29	38	48	61	39	46	50	46	43
Depreciation Expense	27	28	27	29	26	26	25	25	24	24	25
Amortization Expense	0.70	0.64	0.64	0.60	0.57	0.56	0.53	0.52	0.51	0.48	0.49
Non-Cash Adjustments To Reconcile Net Income	21	5.12	6.00	6.50	3.78	-20	6.33	5.37	7.02	7.73	9.52
Changes in Operating Assets and Liabilities, net	25	-21	-26	-25	32	-34	-20	-6.85	40	16	-4.70
Net Cash From Investing Activities	-36	-31	-14	-19	-45	23	-19	-17	-45	-36	-29
Net Cash From Continuing Investing Activities	-36	-31	-14	-19	-45	23	-19	-17	-45	-36	-29
Purchase of Property, Plant & Equipment	-27	-31	-14	-19	-37	-20	-19	-20	-43	-36	-29
Net Cash From Financing Activities	-33	-23	-46	-29	-56	-58	-46	-34	-41	-48	-46
Net Cash From Continuing Financing Activities	-33	-23	-46	-29	-56	-58	-46	-34	-41	-48	-46
Repayment of Debt	-238	-68	-1,016	-308	-242	-155	-275	-136	-57	-20	-20
Repurchase of Common Equity	-15	-20	-20	-10	-9.89	-9.95	-10	-13	-21	-21	-26
Issuance of Common Equity	0.08	0.22	1.40	0.04	0.11	0.08	0.32	-	1.10	0.21	0.07
Other Financing Activities, net	-0.03	-1.74	-0.02	0.00	-0.01	-5.26	-0.01	-	-0.01	-7.34	-0.01
Effect of Exchange Rate Changes	-	0.52	-0.50	0.36	0.70	-1.35	-	2.57	1.39	-1.55	1.63
Cash Interest Paid	8.49	27	21	8.25	30	7.65	26	5.43	25	4.44	24
Cash Income Taxes Paid	12	3.50	29	2.47	1.51	19	37	20	19	2.58	31

This table presents Sally Beauty's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	2,094	2,132	2,099	2,097	2,098	2,895	2,847	2,577	2,725	2,793	2,871
Total Current Assets	1,187	1,173	1,142	1,155	1,164	1,433	1,384	1,132	1,228	1,305	1,301
Cash & Equivalents	140	87	64	77	71	514	401	71	123	108	149
Accounts Receivable	91	84	92	90	105	56	67	72	76	92	117
Inventories, net	885	907	931	944	953	815	871	936	975	1,037	988
Other Current Assets	37	55	55	43	35	48	45	53	54	69	48
Plant, Property, & Equipment, net	271	320	314	308	320	315	307	298	298	270	284
Total Noncurrent Assets	636	640	643	634	615	1,147	1,156	1,147	1,199	1,218	1,285
Goodwill	524	533	538	536	531	540	541	526	533	538	541
Intangible Assets	99	93	80	73	62	58	56	50	55	60	53
Other Noncurrent Operating Assets	13	14	25	25	22	549	559	570	611	619	692
Total Liabilities & Shareholders' Equity	2,094	2,132	2,099	2,097	2,098	2,895	2,847	2,577	2,725	2,793	2,871
Total Liabilities	2,392	2,408	2,463	2,366	2,159	2,880	2,566	2,283	2,217	2,164	2,077
Total Current Liabilities	492	489	573	491	456	563	665	668	579	593	576
Short-Term Debt	0.76	0.72	96	5.50	0.00	0.18	0.19	69	4.17	4.13	4.00
Accounts Payable	276	271	308	303	279	236	292	276	259	269	225
Accrued Expenses	209	215	167	180	169	171	206	161	163	163	185
Current Deferred & Payable Income Tax Liabilities	6.31	1.99	2.23	2.14	8.34	2.92	11	4.74	2.36	20	4.26
Other Current Liabilities	-	-	-	-	0.00	153	156	158	150	136	159
Total Noncurrent Liabilities	1,900	1,920	1,890	1,875	1,703	2,316	1,902	1,615	1,637	1,572	1,501
Long-Term Debt	1,787	1,783	1,772	1,769	1,595	1,797	1,383	1,083	1,066	978	862
Capital Lease Obligations	-	-	-	-	-	-	404	425	455	480	538
Noncurrent Deferred & Payable Income Tax Liabilities	86	115	98	76	80	92	86	85	93	92	79
Other Noncurrent Operating Liabilities	28	22	20	30	28	427	29	22	23	22	21
Total Equity & Noncontrolling Interests	-298	-276	-364	-269	-60	15	281	294	509	629	794
Total Preferred & Common Equity	-298	-276	-364	-269	-60	15	281	294	509	629	794
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-298	-276	-364	-269	-60	15	281	294	509	629	794
Common Stock	1.52	1.45	1.30	1.20	1.17	3.04	18	5.31	6.74	1.02	0.98
Retained Earnings	-219	-178	-283	-180	56	117	357	440	625	741	898
Accumulated Other Comprehensive Income / (Loss)	-78	-100	-82	-90	-117	-105	-95	-152	-123	-113	-105

This table presents Sally Beauty's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	6/30/2022	12/31/2022	3/31/2023	6/30/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	2,686	2,669	2,675	2,675	2,747	2,721	2,711	2,706	2,744	2,851	2,853
Total Current Assets	1,243	1,219	1,209	1,199	1,280	1,263	1,247	1,239	1,262	1,286	1,293
Cash & Equivalents	101	99	62	74	97	97	106	92	113	157	157
Accounts Receivable	67	75	76	78	88	91	85	95	96	104	102
Inventories, net	1,015	987	1,024	996	1,040	1,022	1,006	1,007	1,005	979	987
Other Current Assets	60	58	48	51	56	51	51	45	48	45	47
Plant, Property, & Equipment, net	290	289	283	281	273	268	262	256	256	280	285
Total Noncurrent Assets	1,153	1,161	1,183	1,195	1,193	1,191	1,202	1,211	1,226	1,285	1,275
Goodwill	533	533	534	535	534	534	531	534	541	542	539
Intangible Assets	50	51	51	50	54	53	58	56	56	52	51
Other Noncurrent Operating Assets	569	577	598	610	604	604	613	621	629	691	685
Total Liabilities & Shareholders' Equity	2,686	2,669	2,675	2,675	2,747	2,721	2,711	2,706	2,744	2,851	2,853
Total Liabilities	2,390	2,295	2,249	2,188	2,196	2,144	2,054	2,006	1,981	2,027	2,015
Total Current Liabilities	775	677	631	566	644	595	549	533	524	542	553
Short-Term Debt	167	65	38	20	66	49	4.08	4.04	4.00	4.00	4.00
Accounts Payable	279	296	265	244	290	235	221	217	193	208	223
Accrued Expenses	166	143	168	140	150	161	149	151	165	159	170
Current Deferred & Payable Income Tax Liabilities	2.99	17	4.95	6.35	0.37	13	22	6.65	5.92	14	0.00
Other Current Liabilities	159	156	154	155	138	137	152	154	156	157	157
Total Noncurrent Liabilities	1,615	1,618	1,619	1,622	1,552	1,549	1,506	1,473	1,457	1,485	1,462
Long-Term Debt	1,084	1,082	1,065	1,065	978	979	938	903	882	843	823
Capital Lease Obligations	421	427	445	451	458	457	457	461	469	538	532
Noncurrent Deferred & Payable Income Tax Liabilities	93	86	86	84	94	91	89	88	85	83	86
Other Noncurrent Operating Liabilities	17	23	22	22	22	21	22	21	21	22	21
Total Equity & Noncontrolling Interests	296	373	426	488	551	578	656	700	763	824	838
Total Preferred & Common Equity	296	373	426	488	551	578	656	700	763	824	838
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	296	373	426	488	551	578	656	700	763	824	838
Common Stock	3.41	9.40	15	18	1.04	1.03	1.02	1.01	0.99	0.98	0.96
Retained Earnings	419	491	531	582	667	698	793	826	863	923	946
Accumulated Other Comprehensive Income / (Loss)	-126	-127	-120	-113	-117	-122	-137	-127	-101	-101	-110

This table displays calculated financial ratios and metrics derived from Sally Beauty's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.15%	3.08%	-0.36%	-0.15%	-1.43%	-9.34%	10.26%	-1.53%	-2.29%	-0.30%	-0.42%
EBITDA Growth	-0.32%	2.16%	-1.17%	-9.25%	5.69%	-35.14%	41.98%	-15.99%	-2.45%	-8.19%	8.85%
EBIT Growth	-2.30%	0.60%	-3.95%	-10.87%	7.47%	-43.56%	61.71%	-19.31%	-3.74%	-13.01%	15.94%
NOPAT Growth	-3.62%	1.98%	-5.10%	12.57%	2.59%	-46.73%	68.62%	-17.80%	-6.24%	-11.69%	15.95%
Net Income Growth	-4.43%	-5.17%	-3.53%	19.98%	5.26%	-58.31%	111.80%	-23.47%	0.57%	-16.89%	27.68%
EPS Growth	-1.32%	0.67%	4.00%	33.33%	8.65%	-56.19%	112.12%	-20.95%	1.81%	-15.38%	32.17%
Operating Cash Flow Growth	-4.81%	17.73%	-3.06%	8.56%	-14.02%	33.23%	-10.55%	-59.02%	59.30%	-1.12%	11.48%
Free Cash Flow Firm Growth	-11.22%	-16.54%	14.92%	24.73%	-10.85%	12.26%	-117.09%	303.71%	4.78%	9.20%	27.76%
Invested Capital Growth	1.30%	5.30%	1.36%	-0.84%	2.40%	-11.24%	28.37%	7.97%	6.18%	3.76%	3.37%
Revenue Q/Q Growth	0.52%	0.31%	-0.05%	-0.21%	0.00%	-0.23%	0.84%	-0.72%	-1.09%	0.00%	0.33%
EBITDA Q/Q Growth	-0.44%	-1.10%	0.38%	-1.73%	2.28%	0.70%	-1.97%	-13.67%	9.64%	0.00%	-0.98%
EBIT Q/Q Growth	-1.37%	-1.66%	0.20%	-1.98%	2.91%	1.40%	-1.99%	-17.58%	13.13%	0.00%	-0.70%
NOPAT Q/Q Growth	-1.93%	-1.60%	-0.46%	-0.20%	3.90%	4.08%	-2.70%	-15.70%	9.87%	0.00%	0.03%
Net Income Q/Q Growth	-2.31%	-1.57%	-7.29%	8.16%	5.36%	1.05%	-0.84%	-20.32%	13.00%	0.00%	0.97%
EPS Q/Q Growth	-1.97%	-0.66%	-4.29%	9.47%	6.10%	4.21%	-1.41%	-19.02%	12.67%	0.00%	2.16%
Operating Cash Flow Q/Q Growth	-8.69%	3.33%	4.61%	-7.38%	8.78%	9.19%	3.14%	-26.65%	3.86%	-2.32%	3.86%
Free Cash Flow Firm Q/Q Growth	-16.06%	-16.36%	12.05%	-3.79%	9.07%	6.93%	-118.83%	152.55%	-5.57%	0.00%	-13.16%
Invested Capital Q/Q Growth	-2.23%	0.82%	-1.36%	-0.47%	-1.32%	-2.62%	24.82%	-3.60%	-1.97%	0.00%	2.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	49.50%	49.69%	49.89%	49.44%	49.29%	48.82%	50.41%	50.30%	50.92%	50.86%	51.62%
EBITDA Margin	15.35%	15.21%	15.09%	13.71%	14.70%	10.52%	13.54%	11.56%	11.54%	10.62%	11.61%
Operating Margin	12.92%	12.61%	12.15%	10.85%	11.83%	7.36%	10.80%	8.85%	8.72%	7.61%	8.86%
EBIT Margin	12.92%	12.61%	12.15%	10.85%	11.83%	7.36%	10.80%	8.85%	8.72%	7.61%	8.86%
Profit (Net Income) Margin	6.13%	5.64%	5.46%	6.56%	7.01%	3.22%	6.19%	4.81%	4.95%	4.13%	5.29%
Tax Burden Percent	62.11%	62.97%	62.22%	78.57%	75.00%	70.79%	73.82%	75.20%	73.24%	74.36%	74.36%
Interest Burden Percent	76.41%	71.05%	72.23%	76.99%	78.99%	61.82%	77.65%	72.30%	77.55%	72.98%	80.36%
Effective Tax Rate	37.89%	37.03%	37.79%	21.43%	25.00%	29.21%	26.18%	24.80%	26.76%	25.64%	25.64%
Return on Invested Capital (ROIC)	22.94%	22.65%	20.81%	23.37%	23.79%	13.27%	20.84%	14.65%	12.83%	10.80%	12.09%
ROIC Less NNEP Spread (ROIC-NNEP)	18.58%	17.22%	16.09%	18.96%	19.30%	8.28%	15.66%	9.78%	9.16%	6.68%	8.42%
Return on Net Nonoperating Assets (RNNOA)	-95.85%	-100.33%	-88.04%	-105.00%	-188.97%	-517.93%	141.13%	49.26%	33.18%	16.18%	15.44%
Return on Equity (ROE)	-72.91%	-77.68%	-67.23%	-81.64%	-165.18%	-504.66%	161.97%	63.91%	46.01%	26.98%	27.54%
Cash Return on Invested Capital (CROIC)	21.65%	17.49%	19.46%	24.21%	21.42%	25.17%	-4.01%	6.98%	6.83%	7.11%	8.77%
Operating Return on Assets (OROA)	24.17%	23.58%	22.62%	20.33%	21.85%	10.36%	14.57%	12.45%	12.26%	10.25%	11.58%
Return on Assets (ROA)	11.47%	10.55%	10.17%	12.30%	12.95%	4.54%	8.35%	6.77%	6.96%	5.56%	6.92%
Return on Common Equity (ROCE)	-72.91%	-77.68%	-67.23%	-81.64%	-165.18%	-504.66%	161.97%	63.91%	46.01%	26.98%	27.54%
Return on Equity Simple (ROE_SIMPLE)	-78.94%	-80.73%	-59.15%	-96.09%	-450.28%	733.31%	85.44%	62.51%	36.29%	24.41%	0.00%
Net Operating Profit after Tax (NOPAT)	308	314	298	335	344	183	309	254	238	210	244
NOPAT Margin	8.02%	7.94%	7.56%	8.52%	8.87%	5.21%	7.97%	6.65%	6.39%	5.66%	6.59%
Net Nonoperating Expense Percent (NNEP)	4.36%	5.43%	4.72%	4.41%	4.49%	4.99%	5.17%	4.86%	3.68%	4.12%	3.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	11.09%
Cost of Revenue to Revenue	50.50%	50.31%	50.11%	50.56%	50.71%	51.18%	49.59%	49.70%	49.08%	49.14%	48.38%
SG&A Expenses to Revenue	34.25%	37.08%	37.16%	37.74%	37.48%	41.06%	39.49%	40.73%	41.74%	43.25%	42.77%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.58%	37.08%	37.74%	38.60%	37.46%	41.45%	39.61%	41.45%	42.20%	43.25%	42.77%
Earnings before Interest and Taxes (EBIT)	495	498	479	427	458	259	418	338	325	283	328
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	589	601	594	539	570	370	525	441	430	395	430
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	63.50	6.78	4.59	1.78	2.22	2.03
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	45.96	8.03
Price to Revenue (P/Rev)	0.97	0.95	0.65	0.56	0.46	0.28	0.49	0.35	0.24	0.37	0.44
Price to Earnings (P/E)	15.89	16.87	11.96	8.56	6.61	8.66	7.94	7.35	4.89	9.08	8.22
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.29%	5.93%	8.36%	11.68%	15.13%	11.55%	12.59%	13.61%	20.44%	11.01%	12.16%
Enterprise Value to Invested Capital (EV/IC)	3.99	3.84	3.04	2.73	2.27	1.74	1.97	1.59	1.21	1.39	1.40
Enterprise Value to Revenue (EV/Rev)	1.40	1.38	1.11	0.99	0.86	0.64	0.85	0.75	0.62	0.74	0.77
Enterprise Value to EBITDA (EV/EBITDA)	9.15	9.08	7.37	7.24	5.82	6.12	6.27	6.47	5.36	6.96	6.67
Enterprise Value to EBIT (EV/EBIT)	10.87	10.95	9.14	9.16	7.24	8.75	7.86	8.45	7.09	9.72	8.74
Enterprise Value to NOPAT (EV/NOPAT)	17.50	17.40	14.70	11.65	9.65	12.36	10.65	11.24	9.68	13.07	11.76
Enterprise Value to Operating Cash Flow (EV/OCF)	17.90	15.41	12.75	10.48	10.36	5.30	8.62	18.24	9.25	11.14	10.43
Enterprise Value to Free Cash Flow (EV/FCFF)	18.54	22.53	15.72	11.25	10.72	6.51	0.00	23.59	18.18	19.84	16.20
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-6.00	-6.46	-5.14	-6.61	-26.43	116.37	6.36	5.37	3.00	2.33	1.77
Long-Term Debt to Equity	-6.00	-6.46	-4.87	-6.59	-26.43	116.36	6.36	5.13	2.99	2.32	1.76
Financial Leverage	-5.16	-5.83	-5.47	-5.54	-9.79	-62.52	9.01	5.03	3.62	2.42	1.83
Leverage Ratio	-6.36	-7.36	-6.61	-6.64	-12.76	-111.27	19.39	9.44	6.61	4.85	3.98
Compound Leverage Factor	-4.86	-5.23	-4.78	-5.11	-10.08	-68.79	15.06	6.83	5.12	3.54	3.20
Debt to Total Capital	119.99%	118.32%	124.17%	117.84%	103.93%	99.15%	86.42%	84.30%	74.99%	69.93%	63.88%
Short-Term Debt to Total Capital	0.05%	0.05%	6.39%	0.37%	0.00%	0.01%	0.01%	3.67%	0.21%	0.20%	0.18%
Long-Term Debt to Total Capital	119.94%	118.27%	117.78%	117.47%	103.93%	99.14%	86.41%	80.63%	74.78%	69.74%	63.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-19.99%	-18.32%	-24.17%	-17.84%	-3.93%	0.85%	13.58%	15.70%	25.01%	30.07%	36.12%
Debt to EBITDA	3.04	2.97	3.14	3.29	2.80	4.86	3.40	3.58	3.55	3.70	3.27
Net Debt to EBITDA	2.80	2.82	3.04	3.15	2.67	3.47	2.64	3.42	3.26	3.43	2.92
Long-Term Debt to EBITDA	3.04	2.97	2.98	3.28	2.80	4.86	3.40	3.42	3.54	3.69	3.26
Debt to NOPAT	5.81	5.69	6.27	5.29	4.64	9.81	5.78	6.21	6.41	6.95	5.76
Net Debt to NOPAT	5.36	5.41	6.06	5.06	4.43	7.00	4.49	5.93	5.89	6.44	5.15
Long-Term Debt to NOPAT	5.81	5.68	5.95	5.28	4.64	9.81	5.78	5.94	6.39	6.93	5.75
Altman Z-Score	3.80	3.83	3.39	3.37	3.51	2.13	2.77	2.72	2.61	2.73	2.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.41	2.40	1.99	2.35	2.55	2.54	2.08	1.70	2.12	2.20	2.26
Quick Ratio	0.47	0.35	0.27	0.34	0.39	1.01	0.70	0.21	0.34	0.34	0.46
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	290	242	278	347	310	348	-59	121	127	138	177
Operating Cash Flow to CapEx	282.83%	238.16%	383.02%	432.63%	346.61%	385.26%	518.35%	157.68%	274.75%	243.69%	469.23%
Free Cash Flow to Firm to Interest Expense	2.48	1.68	2.10	3.54	3.21	3.52	-0.64	1.29	1.74	1.81	2.75
Operating Cash Flow to Interest Expense	2.57	2.46	2.58	3.80	3.33	4.32	4.08	1.67	3.42	3.23	4.27
Operating Cash Flow Less CapEx to Interest Expense	1.66	1.42	1.91	2.92	2.37	3.20	3.30	0.61	2.17	1.90	3.36
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.87	1.87	1.86	1.87	1.85	1.41	1.35	1.41	1.41	1.35	1.31
Accounts Receivable Turnover	40.45	45.15	44.70	43.04	39.75	43.67	63.00	54.96	50.33	44.23	35.46
Inventory Turnover	2.26	2.22	2.15	2.12	2.07	2.04	2.28	2.10	1.91	1.82	1.77
Fixed Asset Turnover	15.07	13.39	12.44	12.64	12.35	11.07	12.45	12.61	12.52	13.10	13.36
Accounts Payable Turnover	7.23	7.27	6.82	6.51	6.76	6.99	7.28	6.69	6.85	6.92	7.25
Days Sales Outstanding (DSO)	9.02	8.08	8.17	8.48	9.18	8.36	5.79	6.64	7.25	8.25	10.29
Days Inventory Outstanding (DIO)	161.50	164.50	169.99	172.13	176.13	179.32	160.11	173.97	190.64	201.00	206.30
Days Payable Outstanding (DPO)	50.46	50.22	53.56	56.09	54.02	52.25	50.14	54.60	53.32	52.78	50.34
Cash Conversion Cycle (CCC)	120.07	122.36	124.60	124.53	131.29	135.43	115.76	126.01	144.58	156.47	166.25
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,350	1,421	1,441	1,428	1,463	1,298	1,667	1,800	1,911	1,983	2,049
Invested Capital Turnover	2.86	2.85	2.75	2.74	2.68	2.55	2.61	2.20	2.01	1.91	1.84
Increase / (Decrease) in Invested Capital	17	71	19	-12	34	-164	368	133	111	72	67
Enterprise Value (EV)	5,383	5,458	4,376	3,906	3,318	2,264	3,291	2,854	2,305	2,747	2,866
Market Capitalization	3,735	3,761	2,572	2,209	1,795	981	1,905	1,348	903	1,393	1,611
Book Value per Share	($1.89)	($1.89)	($2.77)	($2.24)	($0.50)	$0.14	$2.48	$2.74	$4.72	$6.12	$8.03
Tangible Book Value per Share	($5.86)	($6.16)	($7.47)	($7.30)	($5.42)	($5.17)	($2.80)	($2.64)	($0.74)	$0.30	$2.03
Total Capital	1,490	1,508	1,504	1,506	1,534	1,813	2,068	1,870	2,034	2,091	2,199
Total Debt	1,788	1,784	1,868	1,774	1,595	1,797	1,787	1,576	1,525	1,462	1,404
Total Long-Term Debt	1,787	1,783	1,772	1,769	1,595	1,797	1,787	1,508	1,521	1,458	1,400
Net Debt	1,648	1,697	1,804	1,697	1,523	1,283	1,386	1,506	1,402	1,354	1,255
Capital Expenditures (CapEx)	106	149	90	86	92	111	74	99	91	101	59
Debt-free, Cash-free Net Working Capital (DFCFNWC)	556	598	602	592	636	356	318	463	530	609	580
Debt-free Net Working Capital (DFNWC)	696	685	666	669	707	870	719	533	653	717	729
Net Working Capital (NWC)	695	684	569	664	707	870	719	464	649	713	725
Net Nonoperating Expense (NNE)	73	91	83	77	72	70	69	70	53	57	48
Net Nonoperating Obligations (NNO)	1,648	1,697	1,804	1,697	1,523	1,283	1,386	1,506	1,402	1,354	1,255
Total Depreciation and Amortization (D&A)	93	103	116	113	111	111	106	103	105	112	102
Debt-free, Cash-free Net Working Capital to Revenue	14.50%	15.14%	15.28%	15.06%	16.41%	10.12%	8.20%	12.12%	14.21%	16.38%	15.68%
Debt-free Net Working Capital to Revenue	18.16%	17.33%	16.90%	17.02%	18.25%	24.75%	18.55%	13.97%	17.51%	19.28%	19.71%
Net Working Capital to Revenue	18.14%	17.31%	14.46%	16.88%	18.25%	24.75%	18.55%	12.17%	17.40%	19.17%	19.60%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.50	$1.51	$1.56	$2.09	$2.27	$0.99	$2.13	$1.69	$1.72	$1.48	$1.95
Adjusted Weighted Average Basic Shares Outstanding	156.35M	147.18M	137.53M	123.19M	119.64M	113.88M	112.65M	108.67M	107.33M	103.94M	100.66M
Adjusted Diluted Earnings per Share	$1.49	$1.50	$1.56	$2.08	$2.26	$0.99	$2.10	$1.66	$1.69	$1.43	$1.89
Adjusted Weighted Average Diluted Shares Outstanding	158.23M	148.80M	138.18M	123.83M	120.28M	114.68M	114.21M	110.29M	109.34M	106.93M	103.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	151.86M	144.11M	128.43M	120.14M	116.33M	112.82M	113.05M	107.04M	106.28M	101.88M	97.50M
Normalized Net Operating Profit after Tax (NOPAT)	308	314	312	362	343	193	312	275	251	210	244
Normalized NOPAT Margin	8.02%	7.94%	7.92%	9.19%	8.86%	5.50%	8.06%	7.20%	6.72%	5.65%	6.59%
Pre Tax Income Margin	9.87%	8.96%	8.78%	8.35%	9.34%	4.55%	8.39%	6.40%	6.76%	5.55%	7.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.24	3.45	3.60	4.35	4.76	2.62	4.47	3.61	4.45	3.70	5.09
NOPAT to Interest Expense	2.63	2.18	2.24	3.41	3.57	1.85	3.30	2.71	3.26	2.75	3.79
EBIT Less CapEx to Interest Expense	3.33	2.42	2.93	3.47	3.80	1.50	3.69	2.55	3.21	2.38	4.18
NOPAT Less CapEx to Interest Expense	1.72	1.14	1.57	2.54	2.61	0.73	2.52	1.65	2.02	1.43	2.88
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	96.80%	93.78%	161.28%	64.60%	17.46%	54.18%	0.00%	71.00%	8.21%	39.37%	27.57%

This table displays calculated financial ratios and metrics derived from Sally Beauty's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	97,008,814.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	97,008,814.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.44
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.27%	-2.69%	-1.13%	1.22%	1.48%	0.71%	-2.78%	-0.96%	1.29%	0.56%	2.29%
EBITDA Growth	56.96%	-13.06%	-38.67%	-13.21%	4.61%	29.26%	9.29%	2.45%	-3.91%	-20.88%	2.56%
EBIT Growth	96.21%	-20.17%	-16.57%	-20.37%	6.97%	45.13%	16.45%	8.92%	-2.82%	-24.31%	3.69%
NOPAT Growth	49.01%	-19.31%	-16.33%	-17.26%	7.20%	44.19%	14.86%	7.92%	0.05%	-23.61%	3.75%
Net Income Growth	99.54%	-23.73%	-28.43%	-25.77%	12.86%	58.93%	34.08%	21.21%	3.90%	-25.33%	8.89%
EPS Growth	90.48%	-23.91%	-27.03%	-21.74%	12.50%	65.71%	40.74%	22.22%	8.89%	-22.41%	13.16%
Operating Cash Flow Growth	8.64%	-7.15%	0.00%	-9.84%	-5.03%	-34.42%	38.24%	44.97%	9.22%	178.68%	43.51%
Free Cash Flow Firm Growth	42.83%	552.08%	104.06%	300.12%	80.77%	-198.74%	2,819.18%	-52.99%	47.48%	97.64%	-133.23%
Invested Capital Growth	6.18%	0.00%	2.28%	0.84%	3.76%	0.00%	1.00%	2.04%	3.37%	5.17%	3.22%
Revenue Q/Q Growth	-1.04%	1.08%	0.00%	3.74%	-0.78%	0.00%	-5.84%	5.68%	1.48%	-0.41%	-4.22%
EBITDA Q/Q Growth	-10.32%	-6.16%	0.00%	69.35%	8.08%	0.00%	-24.67%	8.50%	1.37%	-4.52%	-2.34%
EBIT Q/Q Growth	-14.67%	-10.12%	0.00%	20.47%	14.62%	0.00%	-30.85%	12.69%	2.27%	-5.01%	-5.27%
NOPAT Q/Q Growth	-10.65%	-10.55%	0.00%	18.85%	15.77%	0.00%	-30.62%	11.67%	7.33%	-8.14%	-5.77%
Net Income Q/Q Growth	-16.21%	-9.84%	0.00%	29.00%	27.39%	0.00%	-35.74%	16.61%	9.20%	-8.76%	-6.28%
EPS Q/Q Growth	-13.04%	-12.50%	0.00%	33.33%	25.00%	0.00%	-34.48%	15.79%	11.36%	-8.16%	-4.44%
Operating Cash Flow Q/Q Growth	119.38%	-56.22%	0.00%	0.00%	131.07%	-69.77%	52.63%	35.97%	74.10%	-22.87%	-21.41%
Free Cash Flow Firm Q/Q Growth	-194.89%	3,618.45%	0.00%	3,280.53%	-128.34%	0.00%	101.69%	-45.57%	-131.66%	-712.13%	76.26%
Invested Capital Q/Q Growth	-1.97%	-100.00%	0.00%	0.47%	0.87%	0.00%	1.34%	1.50%	2.19%	0.05%	-0.54%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	50.64%	50.16%	50.98%	51.03%	51.25%	50.84%	51.95%	51.54%	52.17%	51.24%	52.67%
EBITDA Margin	11.31%	10.50%	6.56%	10.71%	11.66%	13.48%	10.79%	11.07%	11.06%	10.61%	10.81%
Operating Margin	8.35%	7.42%	6.56%	7.62%	8.80%	10.70%	7.86%	8.38%	8.44%	8.05%	7.96%
EBIT Margin	8.35%	7.42%	6.56%	7.62%	8.80%	10.70%	7.86%	8.38%	8.44%	8.05%	7.96%
Profit (Net Income) Margin	4.62%	4.12%	3.22%	4.00%	5.14%	6.51%	4.44%	4.90%	5.27%	4.83%	4.73%
Tax Burden Percent	74.45%	74.10%	74.89%	73.88%	74.62%	73.62%	73.86%	73.20%	76.83%	74.30%	73.91%
Interest Burden Percent	74.36%	74.95%	65.55%	71.15%	78.29%	82.61%	76.52%	79.90%	81.30%	80.75%	80.31%
Effective Tax Rate	25.55%	25.90%	25.11%	26.12%	25.38%	26.38%	26.14%	26.80%	23.17%	25.70%	26.09%
Return on Invested Capital (ROIC)	12.49%	0.00%	0.00%	0.00%	12.54%	30.08%	10.91%	11.39%	11.91%	11.09%	10.92%
ROIC Less NNEP Spread (ROIC-NNEP)	11.48%	0.00%	0.00%	0.00%	11.57%	28.09%	10.02%	10.52%	11.03%	10.22%	10.08%
Return on Net Nonoperating Assets (RNNOA)	41.60%	0.00%	0.00%	0.00%	28.03%	55.34%	21.48%	20.64%	20.22%	17.41%	16.24%
Return on Equity (ROE)	54.09%	0.00%	0.00%	0.00%	40.57%	85.42%	32.39%	32.03%	32.13%	28.49%	27.17%
Cash Return on Invested Capital (CROIC)	6.83%	0.00%	0.00%	0.00%	7.11%	-176.12%	11.18%	10.26%	8.77%	6.28%	8.20%
Operating Return on Assets (OROA)	11.74%	0.00%	0.00%	0.00%	11.85%	14.69%	10.66%	11.31%	11.03%	10.73%	10.68%
Return on Assets (ROA)	6.50%	0.00%	0.00%	0.00%	6.92%	8.94%	6.02%	6.61%	6.89%	6.44%	6.34%
Return on Common Equity (ROCE)	54.09%	0.00%	0.00%	0.00%	40.57%	85.42%	32.39%	32.03%	32.13%	28.49%	27.17%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	26.81%	26.58%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	57	51	45	53	61	74	51	57	61	56	53
NOPAT Margin	6.21%	5.50%	4.91%	5.63%	6.57%	7.87%	5.80%	6.13%	6.49%	5.98%	5.89%
Net Nonoperating Expense Percent (NNEP)	1.01%	0.00%	1.06%	1.07%	0.97%	1.99%	0.90%	0.87%	0.88%	0.86%	0.85%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	2.94%	3.59%	2.48%	2.70%	2.79%	2.56%	2.42%
Cost of Revenue to Revenue	49.36%	49.84%	49.02%	48.97%	48.75%	49.16%	48.05%	48.46%	47.83%	48.76%	47.33%
SG&A Expenses to Revenue	42.39%	42.75%	44.41%	43.37%	42.50%	40.15%	44.10%	43.16%	43.73%	43.19%	44.70%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	42.29%	42.74%	44.42%	43.41%	42.45%	40.15%	44.10%	43.16%	43.73%	43.19%	44.70%
Earnings before Interest and Taxes (EBIT)	77	69	60	72	82	100	69	78	80	76	72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	104	98	60	101	109	126	95	103	105	100	98
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.78	0.00	0.00	1.92	2.22	1.62	1.32	1.22	2.03	1.69	1.60
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	45.96	15.82	8.38	5.64	8.03	6.05	5.43
Price to Revenue (P/Rev)	0.24	0.39	0.00	0.00	0.37	0.29	0.25	0.25	0.44	0.38	0.36
Price to Earnings (P/E)	4.89	8.29	0.00	0.00	9.08	6.05	4.95	4.82	8.22	7.71	7.31
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	20.44%	12.06%	0.00%	0.00%	11.01%	16.53%	20.20%	20.77%	12.16%	12.98%	13.69%
Enterprise Value to Invested Capital (EV/IC)	1.21	0.00	0.00	1.27	1.39	1.21	1.11	1.09	1.40	1.28	1.25
Enterprise Value to Revenue (EV/Rev)	0.62	0.00	0.00	0.00	0.74	0.63	0.59	0.59	0.77	0.71	0.68
Enterprise Value to EBITDA (EV/EBITDA)	5.36	0.00	0.00	0.00	6.96	5.57	5.09	5.01	6.67	6.49	6.27
Enterprise Value to EBIT (EV/EBIT)	7.09	0.00	0.00	0.00	9.72	7.51	6.79	6.59	8.74	8.63	8.32
Enterprise Value to NOPAT (EV/NOPAT)	9.68	0.00	0.00	0.00	13.07	10.13	9.17	8.93	11.76	11.56	11.15
Enterprise Value to Operating Cash Flow (EV/OCF)	9.25	0.00	0.00	9.90	11.14	10.30	9.04	8.23	10.43	7.82	7.13
Enterprise Value to Free Cash Flow (EV/FCFF)	18.18	0.00	0.00	0.00	19.84	0.00	9.99	10.69	16.20	20.83	15.47
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.00	0.00	2.73	2.57	2.33	2.13	1.96	1.78	1.77	1.68	1.62
Long-Term Debt to Equity	2.99	0.00	2.61	2.49	2.32	2.12	1.95	1.77	1.76	1.68	1.62
Financial Leverage	3.62	0.00	2.96	2.67	2.42	1.97	2.14	1.96	1.83	1.70	1.61
Leverage Ratio	6.61	0.00	5.55	5.07	4.85	4.13	4.36	4.08	3.98	3.76	3.62
Compound Leverage Factor	4.91	0.00	3.64	3.60	3.80	3.41	3.34	3.26	3.24	3.03	2.90
Debt to Total Capital	74.99%	0.00%	73.17%	72.00%	69.93%	68.06%	66.16%	63.98%	63.88%	62.70%	61.86%
Short-Term Debt to Total Capital	0.21%	0.00%	3.22%	2.38%	0.20%	0.20%	0.20%	0.19%	0.18%	0.18%	0.18%
Long-Term Debt to Total Capital	74.78%	0.00%	69.95%	69.61%	69.74%	67.86%	65.96%	63.80%	63.69%	62.51%	61.68%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	25.01%	0.00%	26.83%	28.00%	30.07%	31.94%	33.84%	36.02%	36.12%	37.30%	38.14%
Debt to EBITDA	3.55	0.00	0.00	0.00	3.70	3.30	3.17	3.12	3.27	3.43	3.35
Net Debt to EBITDA	3.26	0.00	0.00	0.00	3.43	3.05	2.96	2.86	2.92	3.04	2.96
Long-Term Debt to EBITDA	3.54	0.00	0.00	0.00	3.69	3.29	3.16	3.11	3.26	3.42	3.34
Debt to NOPAT	6.41	0.00	0.00	0.00	6.95	6.01	5.71	5.56	5.76	6.11	5.95
Net Debt to NOPAT	5.89	0.00	0.00	0.00	6.44	5.56	5.33	5.10	5.15	5.42	5.26
Long-Term Debt to NOPAT	6.39	0.00	0.00	0.00	6.93	5.99	5.70	5.55	5.75	6.10	5.94
Altman Z-Score	2.31	0.00	0.00	0.00	2.49	2.53	2.47	2.48	2.59	2.57	2.56
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.12	0.00	1.99	2.12	2.20	2.27	2.32	2.41	2.26	2.37	2.34
Quick Ratio	0.34	0.00	0.29	0.32	0.34	0.35	0.35	0.40	0.46	0.48	0.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-54	1,900	1.08	37	-10	-1,876	32	17	-5.45	-44	-11
Operating Cash Flow to CapEx	432.49%	167.00%	0.00%	250.12%	296.26%	0.00%	270.28%	342.02%	281.94%	260.56%	251.29%
Free Cash Flow to Firm to Interest Expense	-2.74	109.74	0.05	1.77	-0.58	-107.55	1.94	1.10	-0.36	-3.03	-0.74
Operating Cash Flow to Interest Expense	5.91	2.95	0.00	2.31	6.20	1.92	3.13	4.42	8.08	6.38	5.17
Operating Cash Flow Less CapEx to Interest Expense	4.54	1.18	0.00	1.39	4.10	3.27	1.98	3.13	5.22	3.93	3.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.41	0.00	0.00	0.00	1.35	1.37	1.36	1.35	1.31	1.33	1.34
Accounts Receivable Turnover	50.33	0.00	0.00	0.00	44.23	44.00	40.51	39.38	35.46	39.24	37.91
Inventory Turnover	1.91	0.00	0.00	0.00	1.82	1.81	1.76	1.77	1.77	1.80	1.80
Fixed Asset Turnover	12.52	0.00	0.00	0.00	13.10	14.23	13.98	14.07	13.36	13.68	13.77
Accounts Payable Turnover	6.85	0.00	0.00	0.00	6.92	8.26	7.11	8.39	7.25	8.34	8.15
Days Sales Outstanding (DSO)	7.25	0.00	0.00	0.00	8.25	8.30	9.01	9.27	10.29	9.30	9.63
Days Inventory Outstanding (DIO)	190.64	0.00	0.00	0.00	201.00	201.35	207.17	206.33	206.30	202.41	202.92
Days Payable Outstanding (DPO)	53.32	0.00	0.00	0.00	52.78	44.16	51.34	43.51	50.34	43.76	44.80
Cash Conversion Cycle (CCC)	144.58	0.00	0.00	0.00	156.47	165.48	164.84	172.09	166.25	167.95	167.74
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,911	0.00	1,956	1,965	1,983	1,950	1,976	2,005	2,049	2,051	2,040
Invested Capital Turnover	2.01	0.00	0.00	0.00	1.91	3.82	1.88	1.86	1.84	1.85	1.86
Increase / (Decrease) in Invested Capital	111	-1,849	44	16	72	1,950	20	40	67	101	64
Enterprise Value (EV)	2,305	0.00	0.00	2,499	2,747	2,358	2,197	2,177	2,866	2,617	2,545
Market Capitalization	903	1,431	0.00	1,111	1,393	1,065	921	934	1,611	1,390	1,344
Book Value per Share	$4.72	$0.00	$5.28	$5.58	$6.12	$6.44	$6.86	$7.56	$8.03	$8.45	$8.64
Tangible Book Value per Share	($0.74)	$0.00	($0.36)	($0.09)	$0.30	$0.66	$1.08	$1.64	$2.03	$2.36	$2.55
Total Capital	2,034	0.00	2,053	2,063	2,091	2,055	2,068	2,118	2,199	2,208	2,197
Total Debt	1,525	0.00	1,503	1,485	1,462	1,399	1,368	1,355	1,404	1,384	1,359
Total Long-Term Debt	1,521	0.00	1,436	1,436	1,458	1,395	1,364	1,351	1,400	1,380	1,355
Net Debt	1,402	0.00	1,405	1,388	1,354	1,293	1,276	1,243	1,255	1,227	1,202
Capital Expenditures (CapEx)	27	31	0.00	19	37	-23	19	20	43	36	29
Debt-free, Cash-free Net Working Capital (DFCFNWC)	530	0.00	606	619	609	597	618	629	580	590	586
Debt-free Net Working Capital (DFNWC)	653	0.00	703	717	717	702	710	742	729	748	743
Net Working Capital (NWC)	649	0.00	637	668	713	698	706	738	725	744	739
Net Nonoperating Expense (NNE)	15	13	15	15	13	13	12	11	11	11	10
Net Nonoperating Obligations (NNO)	1,402	0.00	1,405	1,388	1,354	1,293	1,276	1,243	1,255	1,227	1,202
Total Depreciation and Amortization (D&A)	27	29	0.00	29	27	26	26	25	25	24	26
Debt-free, Cash-free Net Working Capital to Revenue	14.21%	0.00%	0.00%	0.00%	16.38%	16.02%	16.70%	17.05%	15.68%	15.93%	15.72%
Debt-free Net Working Capital to Revenue	17.51%	0.00%	0.00%	0.00%	19.28%	18.86%	19.19%	20.11%	19.71%	20.17%	19.94%
Net Working Capital to Revenue	17.40%	0.00%	0.00%	0.00%	19.17%	18.75%	19.08%	20.00%	19.60%	20.06%	19.84%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.40	$0.00	$0.28	$0.37	$0.47	$0.60	$0.39	$0.46	$0.50	$0.47	$0.44
Adjusted Weighted Average Basic Shares Outstanding	107.33M	0.00	104.28M	103.19M	103.94M	102.02M	101.61M	100.46M	100.66M	97.80M	96.73M
Adjusted Diluted Earnings per Share	$0.40	$0.00	$0.27	$0.36	$0.45	$0.58	$0.38	$0.44	$0.49	$0.45	$0.43
Adjusted Weighted Average Diluted Shares Outstanding	109.34M	0.00	107.08M	105.90M	106.93M	104.97M	104.44M	103.24M	103.82M	100.77M	99.72M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	106.28M	0.00	103.51M	102.64M	101.88M	101.95M	100.89M	98.94M	97.50M	97.01M	95.41M
Normalized Net Operating Profit after Tax (NOPAT)	57	51	45	53	61	74	51	57	61	56	53
Normalized NOPAT Margin	6.14%	5.49%	4.92%	5.66%	6.53%	7.87%	5.80%	6.13%	6.49%	5.98%	5.89%
Pre Tax Income Margin	6.21%	5.56%	4.30%	5.42%	6.89%	8.84%	6.01%	6.69%	6.86%	6.50%	6.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.90	3.99	2.90	3.47	4.61	5.75	4.26	4.98	5.35	5.19	5.08
NOPAT to Interest Expense	2.90	2.96	2.17	2.56	3.44	4.23	3.15	3.64	4.11	3.86	3.75
EBIT Less CapEx to Interest Expense	2.53	2.23	0.00	2.54	2.51	7.10	3.10	3.68	2.48	2.75	3.02
NOPAT Less CapEx to Interest Expense	1.54	1.19	0.00	1.64	1.35	5.58	1.99	2.35	1.24	1.41	1.69
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	8.21%	20.47%	0.00%	0.00%	39.37%	28.48%	21.60%	22.28%	27.57%	35.92%	43.59%

Financials Breakdown Chart

Key Financial Trends

Operating cash flow remains robust. In Q1 2026, Sally Beauty generated about $93.2 million of net cash from continuing operating activities, with capex around $35.8 million (PPE purchases), signaling positive free cash flow generation in the latest quarter.
Profitability is stable and steady. Q1 2026 net income from continuing operations was $45.56 million with basic EPS $0.47 and diluted EPS $0.45; peers’ Q4 2025 figures were similar (net income $49.93 million, EPS around $0.50), suggesting durable quarterly profitability.
Revenue levels stay near the $0.9B per quarter range, indicating resilient demand. Q1 2026 Operating Revenue reached $943.2 million, supporting ongoing top-line stability.
Healthy liquidity on the balance sheet. Cash & equivalents were about $157.2 million in Q1 2026, providing a cushion to fund operations and potential initiatives.
Ongoing modest share repurchases. Quarterly repurchases of common equity have been in the $10–$21 million range (example: Q1 2026: $20.76 million; Q4 2025: $20.66 million), which can support per‑share metrics over time.
Leverage is elevated but typical for a consumer retailer. Long-term debt around $0.84–0.90 billion and total liabilities near $2.0 billion at latest reporting points, with equity in the mid-$0.7–$0.8 billion range.
Inventory and working-capital intensity are sizable. Inventories are near $1B in recent quarters, with total current assets around $1.23–$1.29B, indicating substantial working capital requirements.
Cash outflows from financing activities are common and material. In recent quarters, net cash from continuing financing activities was negative (e.g., Q4 2025: -$40.6M; Q1 2026: -$47.9M), reflecting debt repayments and share repurchases.
Investing cash outflows are ongoing, consuming cash for capex and acquisitions. Net cash from investing activities has been negative in multiple quarters (e.g., Q4 2025: -$45.3M; Q1 2026: -$35.8M), indicating continued capital investment rather than cash generation from investments.
Profit margins remain modest. Net income margins typically in the 4–5% range across recent quarters, implying limited operating leverage if costs rise or competition intensifies.

05/14/26 08:08 AM ETAI Generated. May Contain Errors.

Sally Beauty Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Sally Beauty's financial year ends in September. Their financial year 2025 ended on September 30, 2025.

Sally Beauty's net income appears to be on a downward trend, with a most recent value of $195.88 million in 2025, falling from $235.09 million in 2015. The previous period was $153.41 million in 2024. View Sally Beauty's forecast to see where analysts expect Sally Beauty to go next.

Sally Beauty's total operating income in 2025 was $327.81 million, based on the following breakdown:

Total Gross Profit: $1.91 billion
Total Operating Expenses: $1.58 billion

Over the last 10 years, Sally Beauty's total revenue changed from $3.83 billion in 2015 to $3.70 billion in 2025, a change of -3.5%.

Sally Beauty's total liabilities were at $2.08 billion at the end of 2025, a 4.0% decrease from 2024, and a 13.2% decrease since 2015.

In the past 10 years, Sally Beauty's cash and equivalents has ranged from $63.76 million in 2017 to $514.15 million in 2020, and is currently $149.16 million as of their latest financial filing in 2025.

Over the last 10 years, Sally Beauty's book value per share changed from -1.89 in 2015 to 8.03 in 2025, a change of -523.9%.

Related Companies

Financial statements for NYSE:SBH last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Sally Beauty (SBH) Financials

Financials Breakdown Chart

Key Financial Trends

Sally Beauty Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Sally Beauty (SBH) Financials

Annual Income Statements for Sally Beauty

Quarterly Income Statements for Sally Beauty

Annual Cash Flow Statements for Sally Beauty

Quarterly Cash Flow Statements for Sally Beauty

Annual Balance Sheets for Sally Beauty

Quarterly Balance Sheets for Sally Beauty

Annual Metrics And Ratios for Sally Beauty

Quarterly Metrics And Ratios for Sally Beauty

Financials Breakdown Chart

Key Financial Trends

Sally Beauty Financials - Frequently Asked Questions

When does Sally Beauty's fiscal year end?

How has Sally Beauty's net income changed over the last 10 years?

What is Sally Beauty's operating income?

How has Sally Beauty's revenue changed over the last 10 years?

How much debt does Sally Beauty have?

How much cash does Sally Beauty have?

How has Sally Beauty's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools