SBH
Sally Beauty Holdings, Inc.
SBH's fundamentals are mixed, but it looks expensive: trading at 9.1x earnings, above its usual 7.9x. Analysts expect earnings growth.
SBH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Healthy |
SBH's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
SBH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.1x | $12.33 | -33% |
| Fair | 7.9x | $15.93 | -13% |
| Forward | 8.1x | $18.41 | — |
| Current | 9.1x | $18.41 | — |
| Expensive | 9.8x | $19.70 | +7% |
Historical ranges are pointers, not guarantees.
SBH's PE is in its expensive range at 9.1x. If earnings grow as analysts expect, today's price would be 8.1x next year's earnings, in its fair range.
SBH Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect SBH's earnings to grow and its profitability to improve, with its revenue holding steady.
SBH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.26 | +12% |
| Q3 2026 | $2.02 | +6.9% |
| Q2 2026 | $1.92 | +3.8% |
| Q1 2026 | $1.81 | +2.3% |
| Q4 2025 | $1.76 | +6% |
| Q3 2025 | $1.89 | +32% |
| Q2 2025 | $1.85 | +34% |
| Q1 2025 | $1.77 | +20% |
| Q4 2024 | $1.66 | +5.1% |
SBH's earnings per share have climbed steadily: $2.02 over the past year, up 6.9% from the year before, and higher year over year for eight quarters in a row.
SBH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $952.5M | +0.6% |
| Q2 2026 | $935.5M | +0.2% |
| Q1 2026 | $903.4M | +2.3% |
| Q4 2025 | $943.2M | +0.6% |
| Q3 2025 | $947.1M | +1.3% |
| Q2 2025 | $933.3M | -1% |
| Q1 2025 | $883.1M | -2.8% |
| Q4 2024 | $937.9M | +0.7% |
SBH's revenue has held roughly level: $953M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.7% | +1.2 points |
| Q2 2026 | 9.2% | +0.9 points |
| Q1 2026 | 8% | +0.1 points |
| Q4 2025 | 8.1% | -2.6 points |
| Q3 2025 | 8.4% | -0.4 points |
| Q2 2025 | 8.4% | +0.8 points |
| Q1 2025 | 7.9% | +1.3 points |
| Q4 2024 | 11% | +3.3 points |
SBH's operating margin was 9.7% last quarter, up 1.2 points from the same quarter a year ago.
SBH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $46.9M | -40% |
| Q2 2026 | $61.6M | +25% |
| Q1 2026 | $44.1M | +37% |
| Q4 2025 | $57.5M | +329% |
| Q3 2025 | $78M | +6.4% |
| Q2 2025 | $49.1M | +71% |
| Q1 2025 | $32.2M | +41% |
| Q4 2024 | $13.4M | -35% |
SBH still generates free cash flow, though less than at its 2020 peak: $210M over the past year.
SBH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +902K shares |
| 1 year | -4.8% | -5M shares |
| 3 years | -9.6% | -10.5M shares |
| 5 years | -13% | -15.4M shares |
| Available history | -16% | -18.3M shares |
SBH has 99M diluted shares, down 4.8% from a year ago, with $114M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $41.9M |
| Q2 2026 | $25.6M |
| Q1 2026 | $25.6M |
| Q4 2025 | $20.8M |
| Q3 2025 | $20.7M |
| Q2 2025 | $13.2M |
| Q1 2025 | $10.2M |
| Q4 2024 | $9.9M |
SBH spent $114M buying back its own shares over the past year, up 111% from the year before.
SBH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.5x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 1.9x | Healthy |
| Q4 2024 | 2.0x | Healthy |
SBH's net debt is about 1.5 years of its operating earnings (EBITDA), down from 1.7 years a year ago.
SBH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.5 | Neutral |
| Stochastic | 72.0 | Neutral |
SBH's weekly RSI is 65 (neutral) and its Stochastic is 72 (neutral).
SBH PE vs Consumer Cyclical Sector
| Metric | SBH | Sector median | Relative |
|---|---|---|---|
| PE | 9.1x | 18x | 49% below |
| PE % | 76 | 47 | 29 pts above |
SBH is trading at 9.1x earnings, a 49% discount to the Consumer Cyclical sector's median of 18x.
SBH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.3 | 6.5% above |
| 20 week MA | $16.4 | 13% above |
| 50 week MA | $15.2 | 21% above |
| 100 week MA | $13.2 | 39% above |
| 200 week MA | $12.6 | 46% above |
SBH is in an uptrend: it's above all five of its weekly moving averages, and 46% above its 200-week average.
SBH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.1 | $12.7 | -30% |
| 2021 | $12.7 | $18.6 | +47% |
| 2022 | $18.6 | $12.5 | -33% |
| 2023 | $12.5 | $13.3 | +6.4% |
| 2024 | $13.3 | $10.8 | -18% |
| 2025 | $10.8 | $15.0 | +38% |
| 2026 YTD | $15.0 | $18.4 | +23% |
SBH has finished lower in three of the last six years. It's up 23% so far in 2026.