Sally Beauty Holdings, Inc.

sallybeautyholdings.com

What Do They Do?

Sells professional beauty supplies, including hair color and care, styling tools and nails, to retail consumers and salon professionals through Sally Beauty stores and digital platforms; also distributes professional products to salons through Beauty Systems Group.

How Do They Make Money?

Customers buy merchandise through stores, digital platforms, franchisees and sales consultants; sales are counted at the point of sale or shipment, while certain salon professionals have 30-day payment terms.

revenue

Segment	Share	Revenue	How money arrives
Sally Beauty Supply Sold outright	57% FY2022: 57%		Sold outright
Beauty Systems Group Sold outright	43% FY2022: 43%		Sold outright

Who Are Their Customers?

Retail consumers and salon professionals buy Sally products through its stores and digital platforms; BSG serves salons and licensed professionals directly through its stores, online platforms and sales consultants, as well as through franchises.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.

Operating income, FY2025

9% of revenue

▲ +16% vs FY2024 ($282.7M, 8%)

Net income, FY2025

5% of revenue

▲ +28% vs FY2024 ($153.4M, 4%)

Free cash flow, FY2025

5% of revenue

▲ +19% vs FY2024 ($145.4M, 4%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Jun 30, 2026

Revenue: ▲ 0%; vs $933.3M in Q3 FY2025
Net income: ▲ +18%; vs $45.7M in Q3 FY2025

SBS share of revenue vs 56.4% in Q3 FY2025

May 11, 2026 Company narrows its full-year sales guidance The updated fiscal-year net sales range is narrower; the company left its other full-year guidance measures unchanged.
Apr 2, 2026 CFO Marlo Cormier departs; Adrianne Lee is appointed Marlo Cormier leaves effective April 11, and Adrianne Lee is appointed effective April 28.
Feb 9, 2026 Company raises the low end of full-year EPS guidance The low end of the adjusted diluted EPS range rose, while other full-year guidance measures were unchanged.

Flat. Revenue was $3.7B in FY2025, about the same as the $3.9B of FY2021.

Broader digital retail channels Sally's online retail presence has expanded beyond the website and app described in the older report to include third-party digital marketplaces.

Revenue over time

Sally Beauty Supply Beauty Systems Group

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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