Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.95B | $3.94B | $3.93B | $3.88B | $3.51B | $3.87B | $3.82B | $3.73B | $3.72B | $3.70B |
| Revenue growth | — | -0.4% | -0.1% | -1.4% | -9.3% | 10.3% | -1.5% | -2.3% | -0.3% | -0.4% |
| Gross profit | $1.96B | $1.96B | $1.94B | $1.91B | $1.72B | $1.95B | $1.92B | $1.90B | $1.89B | $1.91B |
| Gross margin | 49.7% | 49.9% | 49.4% | 49.3% | 48.8% | 50.4% | 50.3% | 50.9% | 50.9% | 51.6% |
| Operating income | $498M | $479M | $427M | $458M | $259M | $418M | $338M | $325M | $283M | $328M |
| Operating margin | 12.6% | 12.2% | 10.8% | 11.8% | 7.4% | 10.8% | 8.8% | 8.7% | 7.6% | 8.9% |
| Net income | $223M | $215M | $258M | $272M | $185M | $240M | $184M | $185M | $153M | $196M |
| Net margin | 5.6% | 5.5% | 6.6% | 7.0% | 5.3% | 6.2% | 4.8% | 5.0% | 4.1% | 5.3% |
| EPS (diluted) | $1.50 | $1.56 | $2.08 | $2.26 | $0.99 | $2.10 | $1.66 | $1.69 | $1.43 | $1.89 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $354M | $343M | $373M | $320M | $427M | $382M | $157M | $249M | $247M | $275M |
| Capital expenditures | $151M | $89.7M | $86.5M | $108M | $111M | $73.9M | $99.3M | $90.7M | $101M | $102M |
| Free cash flow | $203M | $254M | $286M | $213M | $316M | $308M | $57.3M | $159M | $145M | $173M |
| Share buybacks | $209M | $347M | $167M | $47.4M | $61.4M | — | $130M | $15.2M | $60.4M | $54.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $86.6M | $63.8M | $77.3M | $71.5M | $514M | $401M | $70.6M | $123M | $108M | $149M |
| Total assets | $2.10B | $2.10B | $2.10B | $2.10B | $2.90B | $2.85B | $2.58B | $2.73B | $2.79B | $2.87B |
| Total liabilities | $2.41B | $2.46B | $2.37B | $2.16B | $2.88B | $2.57B | $2.28B | $2.22B | $2.16B | $2.08B |
| Long-term debt | $1.80B | $1.89B | $1.79B | $1.61B | $1.81B | $1.39B | $1.09B | $1.08B | $994M | $875M |
| Shareholders' equity | -$276M | -$364M | -$269M | -$60.3M | $15.4M | $281M | $294M | $509M | $629M | $794M |
| Retained earnings | -$178M | -$283M | -$180M | $55.8M | $117M | $357M | $440M | $625M | $741M | $898M |
| Shares (wtd avg diluted) | 149M | 138M | 124M | 120M | 115M | 114M | 110M | 109M | 107M | 104M |
Every figure is extracted from Sally Beauty Holdings, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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