10 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 1.0% per year over the past 5 years.
Net income has grown in line with revenue (1.2% vs 1.0% per year).
Operating margin has expanded, at 8.9% in the latest year.
Free cash flow has declined 11.4% per year over the past 5 years.
Financial health
Total debt ($875M) exceeds cash ($149M); net debt is $726M.
Total debt has grown slower than revenue (-13.6% vs 1.0% per year).
Operating income covered interest expense 5.1× in the latest year, up from 2.6× 5 years ago.
Total debt is 2.0× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$3.7B
$196M
51.6%
8.9%
24.7%
6.8%
$173M
$875M
$149M
2024
$3.7B
$153M
50.9%
7.6%
24.4%
5.5%
$145M
$994M
$108M
2023
$3.7B
$185M
50.9%
8.7%
36.3%
6.8%
$159M
$1.1B
$123M
2022
$3.8B
$184M
50.3%
8.8%
62.5%
7.1%
$57M
$1.1B
$71M
2021
$3.9B
$240M
50.4%
10.8%
85.4%
8.4%
$308M
$1.4B
$401M
2020
$3.5B
$185M
48.8%
7.4%
1195.4%
6.4%
$316M
$1.8B
$514M
2019
$3.9B
$272M
49.3%
11.8%
-450.3%
12.9%
$213M
$1.6B
$71M
2018
$3.9B
$258M
49.4%
10.8%
-96.1%
12.3%
$286M
$1.8B
$77M
2017
$3.9B
$215M
49.9%
12.2%
-59.1%
10.2%
$254M
$1.9B
$64M
2016
$4.0B
$223M
49.7%
12.6%
-80.7%
10.6%
$203M
$1.8B
$87M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$935M
$54M
52.4%
9.2%
6.2%
1.9%
$62M
$815M
$173M
Mar '26
$903M
$43M
52.7%
8.0%
5.1%
1.5%
$44M
$835M
$157M
Dec '25
$943M
$46M
51.2%
8.1%
5.5%
1.6%
$57M
$855M
$157M
Sep '25
$947M
$50M
52.2%
8.4%
6.3%
1.7%
$78M
$875M
$149M
Jun '25
$933M
$46M
51.5%
8.4%
6.0%
1.7%
$49M
$896M
$113M
Mar '25
$883M
$39M
52.0%
7.9%
5.6%
1.4%
$32M
$917M
$92M
Dec '24
$938M
$61M
50.8%
10.7%
9.3%
2.3%
$13M
$953M
$106M
Sep '24
$935M
$48M
51.2%
8.8%
7.6%
1.7%
$73M
$994M
$108M
Jun '24
$942M
$38M
51.0%
7.6%
6.5%
1.4%
$29M
$995M
$97M
Mar '24
$908M
$29M
51.0%
6.6%
5.3%
1.1%
$23M
$996M
$97M
Dec '23
$931M
$38M
50.2%
7.4%
7.1%
1.4%
$20M
$1.1B
$121M
Sep '23
$921M
$43M
50.6%
8.3%
8.4%
1.6%
$90M
$1.1B
$123M
Jun '23
$931M
$51M
51.0%
9.7%
10.4%
1.9%
$32M
$1.1B
$74M
Mar '23
$919M
$41M
51.0%
7.8%
9.6%
1.5%
$8M
$1.1B
$62M
Dec '22
$957M
$50M
51.0%
9.0%
13.5%
1.9%
$30M
$1.1B
$99M
Sep '22
$962M
$21M
48.2%
4.1%
7.3%
0.8%
$75M
$1.1B
$71M
Jun '22
$961M
$47M
51.0%
10.3%
15.7%
1.7%
$29M
$1.1B
$101M
Mar '22
$911M
$47M
51.1%
9.5%
17.2%
1.7%
-$15M
$1.4B
$227M
Dec '21
$980M
$69M
51.0%
11.5%
24.5%
2.4%
-$32M
$1.4B
$298M
Sep '21
$990M
$68M
50.6%
11.2%
24.3%
2.4%
$135M
$1.4B
$401M
Valuation over time
How the market has priced SBH against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 7.9× (Mar '23) to 7.9× (Sep '26).
The price-to-sales ratio has risen from 0.4× (Mar '23) to 0.4× (Sep '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is SBH growing its revenue and profit?
Over the past 5 years, Sally Beauty Holdings, Inc.'s revenue has grown 1.0% per year, and net income grown 1.2% per year. These are computed facts, not advice.
How much debt does SBH have?
As of FY2025, Sally Beauty Holdings, Inc. reported $875M of total debt against $149M of cash; operating income covered interest expense 5.1×.
What is SBH's profit margin?
In FY2025, gross margin was 51.6%, operating margin 8.9%, and net margin 5.3%.
What is SBH's P/E ratio?
As of Sep '26, Sally Beauty Holdings, Inc. traded at a price-to-earnings ratio of about 7.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.