Sally Beauty Holdings, Inc.

Listed Company

SBHCIK 0001368458NYSELarge AcceleratedRetail-Retail Stores, NecFY ends Sep 30

Period

FY 2025

Revenue

$3.70B

Net Income

$195.88M

Total Assets

$2.87B

Equity

$794.21M

Shares Out

97.01M

Op. Cash Flow

$274.83M

Business

Sally Beauty Holdings, Inc. is an international specialty retailer and distributor of professional beauty supplies focused on hair color and care. It offers products and services including hair color, hair care, styling tools, nails, skin and cosmetics, owned brands, education, and digital services such as Licensed Colorist on Demand. The company operates two primary omni-channel segments — Sally (retail stores, digital platforms and new concepts like Happy Beauty Co.) and Beauty Systems Group (BSG) serving salons via company and franchised stores, consultants and B2B digital channels. Sally Beauty distributes across North America, South America and Europe through stores, e-commerce, marketplaces and fulfillment options like BOPIS and rapid delivery.

Summary from filing dated 2025-11-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Net sales	3,701	3,717	3,728	3,816	3,875
Cost of goods sold	1,791	1,827	1,830	1,896	1,922
Gross profit	1,911	1,890	1,898	1,919	1,953
Selling, general and administrative expenses	1,583	1,608	1,556	1,554	1,530
Restructuring	0	−75,000	17	28	5
Operating earnings	328	283	325	338	418
Interest expense	64	76	73	94	94
Earnings before provision for income taxes	263	206	252	244	325
Provision for income taxes	68	53	67	61	85
Net earnings	196	153	185	184	240
Basic (per share)	1.95	1.48	1.72	1.69	2.13
Diluted (per share)	1.89	1.43	1.69	1.66	2.1
Basic (shares)	101	104	107	109	113
Diluted (shares)	104	107	109	110	114

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	149	108	123	71	401
Trade accounts receivable, net	32	34	33	34	33
Accounts receivable, other	85	59	42	38	34
Inventory	988	1,037	975	936	871
Other current assets	48	69	54	53	45
Total current assets	1,301	1,305	1,228	1,132	1,384
Property and equipment, net	284	270	298	298	307
Operating lease assets	647	583	571	532	538
Goodwill	541	538	533	526	541
Intangible assets, excluding goodwill, net	53	60	55	50	56
Other assets	45	37	41	38	22
Total assets	2,871	2,793	2,725	2,577	2,847
Current maturities of long-term debt	4	4	4	69	194,000
Accounts payable	225	269	259	276	292
Accrued liabilities	185	163	163	161	206
Current operating lease liabilities	159	136	150	158	156
Income taxes payable	4	20	2	5	11
Total current liabilities	576	593	579	668	665
Long-term debt	862	978	1,066	1,083	1,383
Long-term operating lease liabilities	538	480	455	425	404
Other liabilities	21	22	23	22	29
Deferred income tax liabilities, net	79	92	93	85	86
Total liabilities	2,077	2,164	2,217	2,283	2,566
Common stock, $0.01 par value. Authorized 500,000 shares; 97,875 and 101,854 shares issued and outstanding at September 30, 2025 and 2024, respectively	979,000	1	1	1	1
Preferred stock, $0.01 par value. Authorized 50,000 shares; none issued	—	—	—	—	—
Additional paid-in capital	0	0	6	4	17
Accumulated earnings	898	741	625	440	357
Accumulated other comprehensive loss, net of tax	−105	−113	−123	−152	−95
Total stockholders equity	794	629	509	294	281
Total liabilities and stockholders equity	2,871	2,793	2,725	2,577	2,847

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization	100	110	102	100	102
Share-based compensation expense	19	17	16	10	12
Amortization of deferred financing costs	2	2	3	3	4
Impairment of long-lived assets, including operating lease assets	5	605,000	3	25	628,000
Gain on disposal of long-lived assets	−27	−103,000	−92,000	−53,000	−338,000
Gain on divestiture of subsidiary	−768,000	—	—	—	—
Loss on extinguishment of debt	1	4	2	16	4
Deferred income taxes	−12	−2	10	−18	—
Trade accounts receivable	2	230,000	1	−3	3
Accounts receivable, other	−26	−15	−3	−6	−14
Inventory	50	−55	−22	−96	−52
Other current assets	3	3	−102,000	−10	976,000
Other assets	−6	−2	−695,000	4	4
Accounts payable and accrued liabilities	−32	15	−30	−46	80
Income taxes payable	−16	18	−2	−7	8
Operating lease assets and liabilities	16	−2	−16	6	730,000
Other liabilities	−891,000	−1	706,000	−7	−4
Net cash provided by operating activities	275	247	249	157	382
Payments for property and equipment	−102	−101	−91	−99	−74
Proceeds from sales of property and equipment, net	44	—	—	—	235,000
Proceeds from divestiture of subsidiary	3	—	—	—	—
Acquisitions, net of cash acquired	−3	−8	−9	−3	−2
Net cash used by investing activities	−58	−109	−100	−102	−76
Proceeds from issuance of long-term debt and ABL facility	502	1,541	1,290	—	—
Repayments of long-term debt and ABL facility	−621	−1,626	−1,371	—	—
Debt issuance costs	−2	−9	−5	—	−1
Payments for common stock repurchased	−54	−60	−15	−130	—
Proceeds from equity awards	2	2	2	8	—
Employee withholding taxes paid related to net share settlement of equity awards	−5	−2	−1	−1	—
Net cash used by financing activities	−178	−154	−101	−374	−420
Effect of foreign exchange rate changes on cash and cash equivalents	3	1	4	−11	935,000
Net increase (decrease) in cash and cash equivalents	41	−15	52	−330	−113
Interest paid	64	87	72	82	89
Income taxes paid	94	36	64	83	80
Capital expenditures incurred but not paid	24	16	23	16	20

Filings

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