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Sally Beauty Holdings, Inc.

SBH Consumer Cyclical Specialty Retail

Sally Beauty Holdings, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $3.7 billion, roughly unchanged from fiscal 2024.

Revenue
+0.23%
EPS
+23.9%
Free cash flow
+25.4%
Total debt
−8.89%

Quarter to June 2026, against a year earlier

18.67 0.57 −2.96%
Market cap
$1.8B
P/E
9.4×
Fwd P/E
8.8×
Dividend yield
—
F-score
8/9
Altman Z
2.88
Beneish M
−2.31
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.64
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — — — — — 1 — — — — —
Insider Ownership 2.86%

Capital & Financial Ratios $m

Size
Market Cap 1,750.00
Revenue ttm 3,729.12
Net income ttm 192.27
Free cash flow ttm 241.21
Net debt Q 634.47
Valuation
P/E 9.38
Forward P/E 8.79
Price / sales 0.48
Forward P/S Powerpack
Price / FCF 7.36
Price / book 2.04
Financial health
Current ratio Q 2.37 (at or above 1.5: strong)
Debt / equity Q 0.93
Interest coverage Q 6.31
Growth
Revenue growth Q +0.23% (above 0%: growing)
Operating income growth Q +10.52% (above 0%: growing)
EPS, this year +8.84%
EPS, next year A +8.03%
Revenue, next year A +0.83%
EPS, past 5 yrs +13.81%
EPS, next 5 yrs A +8.25%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 0.8×; over the ten years it ranged from 0.4× in 2025 to 1.7× in 2016.
P/E against its own 10 years 65.93%
10-year low 10-year high
P/S against its own 10 years 57.02%
10-year low 10-year high
P/B against its own 10 years 34.92%
10-year low 10-year high
EV/Sales against its own 10 years 34.84%
10-year low 10-year high
EV/FCF against its own 10 years 19.95%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 123 108 149 173
Receivables 76 92 117 96
Inventory 975 1,037 988 996
Other 54 69 48 46
1,228 1,305 1,301 1,311
2023 2024 2025 Q'26
Payables 259 269 225 224
ST’ Debt 4 4 4 4
Other — — — —
579 593 576 554

Compound Annual Growth %

10y 5y 3y
Sales (0.35%) 1.04% (1.01%)
Cash Flow (0.90%) (8.43%) 20.65%
Earnings (1.81%) 11.58% 2.19%
Book Value 0.00% 119.91% 39.33%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.53 Actual 0.55

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.49 0.55 Beat by 0.06
Q1 FY26 0.47 0.48 Beat by 0.01
Q2 FY26 0.41 0.44 Beat by 0.03
Q3 FY26 0.53 0.55 Beat by 0.02
Q4 FY26 0.60 — Reports 10 November 2026

EPS $

Dec Mar Jun Sep Year
’26 0.45 0.43 0.55 — —
’25 0.58 0.38 0.44 0.49 1.89
’24 0.35 0.27 0.36 0.46 1.43
’23 0.46 0.37 0.46 0.39 1.69
’22 0.60 0.42 0.43 0.20 1.66
’21 0.50 0.34 0.66 0.59 2.10
’20 0.45 0.12 (0.21) 0.62 0.99
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 943 903 935 — —
’25 938 883 933 947 3,701
’24 931 908 942 935 3,717
’23 957 919 931 921 3,728
’22 980 911 961 962 3,816
’21 936 926 1,022 990 3,875
’20 980 871 705 958 3,514
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 93 73 81 — —
’25 33 51 69 121 275
’24 51 37 48 111 247
’23 55 25 53 117 249
’22 (6) 3 52 107 157
’21 39 93 86 164 382
’20 62 14 198 153 427
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 57 44 62 — —
’25 57 32 49 78 216
’24 20 23 29 73 145
’23 30 8 32 90 159
’22 (32) (15) 29 75 57
’21 24 81 68 135 308
’20 21 (17) 181 131 316
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,953 3,938 3,933 3,876 3,514 3,875 3,816 3,728 3,717 3,701 3,729 (0.7%) 3,732 3,777 3,848 +1.3%
Gross margin, % 49.69 49.89 49.44 49.29 48.82 50.41 50.30 50.92 50.86 51.62 52.11 +1.9 pt
EBT 354 346 328 362 160 325 244 252 206 263 257 (3.2%)
EBT margin, % 8.96 8.78 8.35 9.34 4.55 8.39 6.40 6.76 5.55 7.12 6.89 (1.8) pt
Net income 223 215 258 272 113 240 184 185 153 196 192 (1.4%)
Per share, $
Per share, $ Revenue 26.86 28.64 31.92 32.40 30.86 34.40 35.11 34.73 35.76 36.77 39.23 +3.6%
Earnings 1.51 1.56 2.09 2.27 0.99 2.13 1.69 1.72 1.48 1.95 1.99 +2.9%
Cash flow 2.41 2.50 3.03 2.68 3.75 3.39 1.44 2.32 2.37 2.73 3.87 +1.4%
Capex (1.01) (0.65) (0.70) (0.77) (0.97) (0.65) (0.91) (0.85) (0.97) (0.58) (1.34) (5.9%)
Free cash flow 1.40 1.84 2.33 1.91 2.78 2.74 0.53 1.48 1.40 2.15 2.54 +4.9%
Book value (1.88) (2.64) (2.18) (0.50) 0.14 2.49 2.70 4.74 6.05 7.89 9.17 n/m
Shares, m 147 138 123 120 114 113 109 107 104 101 98 (4.1%)
Valuation, ×
Valuation, × P/E 16.89 12.58 8.61 6.56 8.69 7.91 7.50 4.91 9.17 8.31 9.38 9.1
P/S 0.96 0.69 0.56 0.46 0.28 0.49 0.36 0.24 0.38 0.44 0.48 0.5
P/B 0.00 0.00 0.00 0.00 64.08 6.76 4.66 1.78 2.24 2.06 2.04 8.2
EV/Sales 1.39 1.14 0.99 0.85 0.65 0.74 0.64 0.50 0.61 0.64 0.65 0.8
EV/FCF 26.66 17.76 13.62 14.49 7.19 9.34 42.80 11.69 15.72 10.89 9.99 17.0
Cash, $m
Cash, $m Operating cash flow 354 343 373 320 427 382 157 249 247 275 368 (2.8%)
Capex (149) (90) (86) (92) (111) (74) (99) (91) (101) (59) (127) (9.8%)
Free cash flow 205 254 287 228 316 308 57 159 145 216 241 +0.6%
Balance, $m
Balance, $m Working capital 684 569 664 707 870 719 464 649 713 725 757 +0.7%
Net debt 1,697 1,804 1,697 1,523 1,283 982 1,081 947 874 717 634 (9.1%)
Shareholders’ equity (276) (364) (269) (60) 15 281 294 509 629 794 871 n/m
Returns, %
Returns, % ROA 10.55 10.17 12.30 12.95 4.54 8.35 6.77 6.96 5.56 6.92 6.83 (3.6) pt
ROIC 21.91 20.76 18.66 19.59 12.46 20.71 15.35 13.95 11.76 13.56 13.04 (8.3) pt
ROE (77.68) (67.23) (81.64) (165.18) (504.66) 161.97 63.91 46.01 26.98 27.54 23.53 +105.2 pt
People
People Employees 29,665 29,475 29,970 30,050 30,000 29,000 29,000 27,000 27,000 27,000 — (1.0%)
Revenue/emp, $m 0.13 0.13 0.13 0.13 0.12 0.13 0.13 0.14 0.14 0.14 — +0.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Sally Beauty Holdings, Inc. vs peers in Specialty Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MNSO MINISO Group Holding Limited Unsponsored ADR $3.2B 18.7× 9.5× +23.53% (above 0%: growing) n/m +219.06% (above 0%: growing) 45.26% 2.04% Compare
RH RH $2.6B 23.3× 21.6× +2.56% (above 0%: growing) +15.22% (above 0%: growing) +23.83% (above 0%: growing) 48.24% 11.67% Compare
BOBS Bob's Discount Furniture, Inc. $2.5B 16.7× 15.4× +19.47% (above 0%: growing) +0.03% (above 0%: growing) +685.84% (above 0%: growing) 46.45% 8.68% Compare
ARHS Arhaus, Inc. $1.8B 27.5× 23.2× +6.83% (above 0%: growing) −33.33% (below 0%: shrinking) +303.70% (above 0%: growing) 39.23% 2.74% Compare
SBH Sally Beauty Holdings, Inc. $1.8B 9.4× 8.8× +0.23% (above 0%: growing) +23.91% (above 0%: growing) +25.44% (above 0%: growing) 52.41% 9.24%
EYE National Vision Holdings, Inc. $1.4B 28.2× 23.8× +2.55% (above 0%: growing) +45.45% (above 0%: growing) −133.21% (below 0%: shrinking) 58.23% 4.27% Compare
SVV Savers Value Village, Inc. $1.4B 22.5× 21.7× +8.47% (above 0%: growing) n/m +563.29% (above 0%: growing) 56.89% 9.83% Compare
HZO MarineMax, Inc. $1.2B — (loss-making) 254× −5.80% (below 0%: shrinking) n/m +0.54% (above 0%: growing) 37.36% (0.33%) Compare
WINA Winmark Corporation $956.0M 23.1× 25.7× +23.23% (above 0%: growing) +5.11% (above 0%: growing) +3.89% (above 0%: growing) 82.89% 56.60% Compare
Median of peers $1.6B 23.1× 22.5× +7.65% +5.11% +121.45% 47.35% 6.48%

All 45 Specialty Retail stocks →

Pay and ownership Proxy statement filed 10 December 2025

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 9.11m 12.55m 187.34
2024 7.54m 12.77m 156.16
2023 7.23m 2.85m 96.43
2022 8.36m 6.27m 144.99
2021 6.72m 5.73m 193.90

Ownership

Directors and executive officers, together 2.00%
BlackRock, Inc. 15.20%
The Vanguard Group 11.80%
Dimensional Fund Advisors LP 5.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Sally Beauty Holdings, Inc. (SBH) Latest News

19 Oct

Impact 4 · · Zacks
Impact 3 · · StockStory

30 Sep

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22 Sep

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3 Sep

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28 Aug

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21 Aug

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18 Aug

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11 Aug

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10 Aug

Impact 4 · · The Motley Fool transcript

4 Aug

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3 Aug

Impact 3 · · The Motley Fool
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1 Aug

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27 Jul

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12 Jun

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1 Jun

Impact 3 · · StockStory
Impact 3 · · The Motley Fool transcript

24 May

Impact 3 · · Simply Wall St.

17 May

Impact 3 · · StockStory
stockrow.com/SBH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com