MARKETS / NYSE / SBH

NYSE · RETAIL-RETAIL STORES, NEC · LARGE CAP

Sally Beauty Holdings, Inc. SBH

18 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$3.7B

▼ 0.4% YoY

Net income

$195.9M

▲ 27.7% YoY

Free cash flow

$172.7M

▲ 18.8% YoY

In brief

What this company does

Sally Beauty Holdings, Inc. retails and distributes professional beauty supplies. As of September 30, 2025, it had approximately 27,000 global associates, including approximately 11,000 full-time associates. For fiscal year 2025, its five largest suppliers accounted for approximately 48% of its consolidated merchandise purchases. It operates two business segments that offer beauty products in categories including hair care, hair color, styling tools and nails. The Sally segment is an omni-channel retailer that offers professional beauty supplies to retail consumers and salon professionals throughout North America, South America and Europe, operating primarily through retail stores under the Sally Beauty banner and through digital platforms. In the United States and Canada, it has more than 15 million active customers who shopped with Sally in the past 12 months.

Written from the business description in Sally Beauty Holdings, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 13 November 2025. Every sentence was checked against that document before publication.

Growth

USD 3.7B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 3.7 · Net income 0.2

Compound annual growth

Revenue

−1.0%

+1.0%

−0.4%

+1.6%

Net income

+2.2%

+1.2%

EPS, diluted

+4.4%

+13.8%

+2.4%

+6.1%

Returned to shareholders

−24.1%

−1.6%

−11.0%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +1.0% a year over five years — but profit grew faster: net income at +1.2%, earnings per share at +13.8%.

The share count fell from 0.12B to 0.10B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

5 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 8.9% · Net 5.3%

ROE

FY2025 · ROE 27.5%

Gross margin51.6%

Operating margin8.9%

Net margin5.3%

Return on assets6.9%

EBITDAUSD 427.7M

Each USD of equity produced 28 cents of profit this year.

Cash & shareholders

USD 54.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 172.7

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 54.0

Dividends paid—

Net buybacksUSD 54.0M

Share of profit27.6%

Consecutive raises—

USD 54.0M in buybacks — 28% of the year's profit went back to shareholders.

Total assetsUSD 2.9B

EquityUSD 794.2M

CashUSD 149.2M

Gross debtUSD 875.0M

Net debtUSD 725.8M

Current ratio2.26×

Net debt stands at 91% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	3.7	3.7	3.7	3.8	3.9	3.5	3.9	3.9	3.9	4.0	3.8	3.8	3.6	3.5	3.3	2.9	2.6	2.6
Operating income $B	0.3	0.3	0.3	0.3	0.4	0.3	0.5	0.4	0.5	0.5	0.5	0.5	0.5	0.5	0.4	0.3	0.3	0.3
EBITDA $B	0.4	0.4	0.4	0.4	0.5	0.4	0.6	0.5	0.6	0.6	0.6	0.6	0.6	0.6	0.5	0.4	0.3	0.3
Income tax $B	0.1	0.1	0.1	0.1	0.1	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.1	0.1	0.1	0.1	0.0
Net income $B	0.2	0.2	0.2	0.2	0.2	0.2	0.3	0.3	0.2	0.2	0.2	0.2	0.3	0.2	0.2	0.1	0.1	0.1
Free cash flow $B	0.2	0.1	0.2	0.1	0.3	0.3	0.2	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1
EPS, diluted $	1.89	1.43	1.69	1.66	2.10	0.99	2.26	2.08	1.56	1.50	1.49	1.51	1.48	1.24	1.14	0.78	0.54	0.42
Dividend / sh $	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	27.5	27.0	46.0	63.9	162.0	·	·	·	·	·	·	·	·	·	·	·	·	·
Shares out B	0.10	0.10	0.11	0.11	0.11	0.12	0.12	0.12	0.13	0.14	0.15	0.15	0.16	0.18	0.18	0.18	0.18	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityRetail-Retail Stores, NEC

Listed onNYSE

Incorporated innot stated in the filings

Fiscal year endsSeptember 30

Data on record since2008