National Vision Holdings, Inc. (EYE) vs Sally Beauty Holdings, Inc. (SBH)

National Vision Holdings, Inc. and Sally Beauty Holdings, Inc. are both Specialty Retail companies. Sally Beauty Holdings, Inc. is the larger, with a market value of $1.6B against $1.3B — 1.2× the size. Sally Beauty Holdings, Inc. trades at the lower P/E: 8.6× against 26.2×. National Vision Holdings, Inc. grew revenue faster over the last twelve months: 7.84% against 1.08%. Sally Beauty Holdings, Inc. has the higher net margin (5.16% vs 2.47%) and the higher return on invested capital (13.0% vs 4.71%). Across the 22 metrics below, Sally Beauty Holdings, Inc. leads on 15 and National Vision Holdings, Inc. on 7.

Valuation

Metric EYE SBH Specialty Retail median
P/E 26.24 8.63 17.14
P/S 0.65 0.44 0.48
P/B 1.47 1.87 1.71
Price to free cash flow 26.79 6.77 13.04
EV/EBITDA 8.14 5.46 8.92
EV/Sales 0.75 0.61 0.64
Earnings yield 3.81% 11.58% 3.85%
Free cash flow yield 3.73% 14.77% 3.02%

Profitability

Metric EYE SBH Specialty Retail median
Gross margin 58.62% 52.11% 37.89%
Operating margin 4.07% 8.43% 3.66%
Net margin 2.47% 5.16% 1.42%
Free cash flow margin 2.41% 6.47% 1.44%
Return on equity 5.75% 23.53% 2.58%
Return on assets 2.54% 6.83% 0.25%
Return on invested capital 4.71% 13.04% 0.00%

Growth

Metric EYE SBH Specialty Retail median
Revenue growth (TTM) 7.84% 1.08% 3.35%
EPS growth (last fiscal year) 202.78% 32.17% —
Revenue growth, 5-year CAGR 3.03% 1.04% 3.70%
Net income growth, 5-year CAGR (3.99%) 11.58% 0.00%

Health

Metric EYE SBH Specialty Retail median
Debt to equity 0.27 0.93 0.27
Current ratio 0.59 2.37 1.35
Net debt to EBITDA 1.30 1.67 0.24

Dividend

Metric EYE SBH Specialty Retail median
Dividend yield — — 1.73%
Payout ratio 0.00 0.00 0.00

Size

Metric EYE SBH Specialty Retail median
Market cap 1.30b 1.59b 348.57m

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