Comprehensive Stock Comparison
Compare Yatsen Holding Limited (YSG) vs Sally Beauty Holdings, Inc. (SBH) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | YSG | 0.8% revenue growth vs SBH's -0.4% |
| Value | YSG | Lower P/E (2.5x vs 7.8x) |
| Quality / Margins | SBH | 4.9% net margin vs YSG's -11.8% |
| Stability / Safety | SBH | Beta 0.85 vs YSG's 0.93 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | SBH | +78.2% vs YSG's +16.8% |
| Efficiency (ROA) | SBH | 6.3% ROA vs YSG's -11.9%, ROIC 11.4% vs -10.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Yatsen Holding is a Chinese beauty company that develops and sells color cosmetics, skincare, and beauty products under multiple brands including Perfect Diary, Little Ondine, and Galénic. It generates revenue primarily through direct-to-consumer online sales — via its own e-commerce platforms and third-party marketplaces — complemented by physical retail stores across China. The company's competitive advantage lies in its data-driven product development, strong digital marketing capabilities, and multi-brand portfolio that targets different consumer segments across China's beauty market.
Sally Beauty Holdings is a specialty retailer and distributor of professional beauty supplies operating through two main segments. The company generates revenue primarily from its Sally Beauty Supply stores serving retail customers (~60% of sales) and its Beauty Systems Group segment selling directly to salons and professionals through stores and sales forces (~40%). Its competitive advantage lies in its extensive physical store network—nearly 4,800 locations—and dual-channel approach that serves both retail consumers and professional salon clients.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
SBH leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). YSG leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
YSG and SBH operate at a comparable scale, with $4.1B and $3.7B in trailing revenue. SBH is the more profitable business, keeping 4.9% of every revenue dollar as net income compared to YSG's -11.8%. On growth, YSG holds the edge at +50.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | YSGYatsen Holding Li… | SBHSally Beauty Hold… |
|---|---|---|
| RevenueTrailing 12 months | $4.1B | $3.7B |
| EBITDAEarnings before interest/tax | -$60M | $378M |
| Net IncomeAfter-tax profit | -$479M | $180M |
| Free Cash FlowCash after capex | $0 | $253M |
| Gross MarginGross profit ÷ Revenue | +78.3% | +51.7% |
| Operating MarginEBIT ÷ Revenue | -3.9% | +8.2% |
| Net MarginNet income ÷ Revenue | -11.8% | +4.9% |
| FCF MarginFCF ÷ Revenue | -8.7% | +6.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | +50.0% | +0.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +40.7% | -22.4% |
Valuation Metrics
| Metric | YSGYatsen Holding Li… | SBHSally Beauty Hold… |
|---|---|---|
| Market CapShares × price | $2.7B | $1.6B |
| Enterprise ValueMkt cap + debt − cash | $2.6B | $3.0B |
| Trailing P/EPrice ÷ TTM EPS | -4.36x | 8.50x |
| Forward P/EPrice ÷ next-FY EPS est. | 2.52x | 7.77x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.62x |
| EV / EBITDAEnterprise value multiple | — | 6.97x |
| Price / SalesMarket cap ÷ Revenue | 5.33x | 0.42x |
| Price / BookPrice ÷ Book value/share | 1.00x | 2.10x |
| Price / FCFMarket cap ÷ FCF | — | 9.07x |
Profitability & Efficiency
SBH delivers a 21.9% return on equity — every $100 of shareholder capital generates $22 in annual profit, vs $-16 for YSG. YSG carries lower financial leverage with a 0.05x debt-to-equity ratio, signaling a more conservative balance sheet compared to SBH's 1.97x. On the Piotroski fundamental quality scale (0–9), SBH scores 8/9 vs YSG's 4/9, reflecting strong financial health.
| Metric | YSGYatsen Holding Li… | SBHSally Beauty Hold… |
|---|---|---|
| ROE (TTM)Return on equity | -15.9% | +21.9% |
| ROA (TTM)Return on assets | -11.9% | +6.3% |
| ROICReturn on invested capital | -10.9% | +11.4% |
| ROCEReturn on capital employed | -11.1% | +14.6% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 8 |
| Debt / EquityFinancial leverage | 0.05x | 1.97x |
| Net DebtTotal debt minus cash | -$668M | $1.4B |
| Cash & Equiv.Liquid assets | $817M | $149M |
| Total DebtShort + long-term debt | $149M | $1.6B |
| Interest CoverageEBIT ÷ Interest expense | — | 3.74x |
Total Returns (with DRIP)
A $10,000 investment in SBH five years ago would be worth $9,079 today (with dividends reinvested), compared to $476 for YSG. Over the past 12 months, SBH leads with a +78.2% total return vs YSG's +16.8%. The 3-year compound annual growth rate (CAGR) favors SBH at -0.0% vs YSG's -14.4% — a key indicator of consistent wealth creation.
| Metric | YSGYatsen Holding Li… | SBHSally Beauty Hold… |
|---|---|---|
| YTD ReturnYear-to-date | +5.0% | +10.9% |
| 1-Year ReturnPast 12 months | +16.8% | +78.2% |
| 3-Year ReturnCumulative with dividends | -37.3% | -0.1% |
| 5-Year ReturnCumulative with dividends | -95.2% | -9.2% |
| 10-Year ReturnCumulative with dividends | -95.2% | -49.1% |
| CAGR (3Y)Annualised 3-year return | -14.4% | -0.0% |
Risk & Volatility
SBH is the less volatile stock with a 0.85 beta — it tends to amplify market swings less than YSG's 0.93 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SBH currently trades 89.7% from its 52-week high vs YSG's 38.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | YSGYatsen Holding Li… | SBHSally Beauty Hold… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.93x | 0.85x |
| 52-Week HighHighest price in past year | $11.57 | $17.92 |
| 52-Week LowLowest price in past year | $3.30 | $7.54 |
| % of 52W HighCurrent price vs 52-week peak | +38.5% | +89.7% |
| RSI (14)Momentum oscillator 0–100 | 61.6 | 57.7 |
| Avg Volume (50D)Average daily shares traded | 92K | 1.5M |
Analyst Outlook
Wall Street rates YSG as "Hold" and SBH as "Hold".
| Metric | YSGYatsen Holding Li… | SBHSally Beauty Hold… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | — | $17.75 |
| # AnalystsCovering analysts | 3 | 30 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +2.2% | +3.4% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Nov 20 | Feb 26 | Change |
|---|---|---|---|
| Yatsen Holding Limi… (YSG) | 100 | 4.47 | -95.5% |
| Sally Beauty Holdin… (SBH) | 100 | 138.1 | +38.1% |
Sally Beauty Holdin… (SBH) returned -9% over 5 years vs Yatsen Holding Limi… (YSG)'s -95%.
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Yatsen Holding Limi… (YSG) | $660M | $3.4B | +421.4% |
| Sally Beauty Holdin… (SBH) | $4.0B | $3.7B | -6.4% |
Sally Beauty Holdings, Inc.'s revenue grew from $4.0B (2016) to $3.7B (2025) — a -0.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Yatsen Holding Limi… (YSG) | -6.3% | -20.9% | -230.4% |
| Sally Beauty Holdin… (SBH) | 5.6% | 5.3% | -6.2% |
Sally Beauty Holdings, Inc.'s net margin went from 6% (2016) to 5% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Sally Beauty Holdin… (SBH) | 12 | 7.5 | -37.5% |
Sally Beauty Holdings, Inc. has traded in a 7x–13x P/E range over 9 years; current trailing P/E is ~9x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Yatsen Holding Limi… (YSG) | -0.05 | -7 | -13157.6% |
| Sally Beauty Holdin… (SBH) | 1.5 | 1.89 | +26.0% |
Sally Beauty Holdings, Inc.'s EPS grew from $1.50 (2016) to $1.89 (2025) — a 3% CAGR.
Chart 6Free Cash Flow — 5 Years
Yatsen Holding Limited generated $-301M FCF in 2024 (+75% vs 2021). Sally Beauty Holdings, Inc. generated $173M FCF in 2025 (-44% vs 2021).
YSG vs SBH: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is YSG or SBH a better buy right now?
Sally Beauty Holdings, Inc. (SBH) offers the better valuation at 8.5x trailing P/E (7.8x forward), making it the more compelling value choice. Analysts rate Yatsen Holding Limited (YSG) a "Hold" — based on 3 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — YSG or SBH?
On forward P/E, Yatsen Holding Limited is actually cheaper at 2.5x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — YSG or SBH?
Over the past 5 years, Sally Beauty Holdings, Inc. (SBH) delivered a total return of -9.2%, compared to -95.2% for Yatsen Holding Limited (YSG). A $10,000 investment in SBH five years ago would be worth approximately $9K today (assuming dividends reinvested). Over 10 years, the gap is even starker: SBH returned -49.1% versus YSG's -95.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — YSG or SBH?
By beta (market sensitivity over 5 years), Sally Beauty Holdings, Inc. (SBH) is the lower-risk stock at 0.85β versus Yatsen Holding Limited's 0.93β — meaning YSG is approximately 9% more volatile than SBH relative to the S&P 500. On balance sheet safety, Yatsen Holding Limited (YSG) carries a lower debt/equity ratio of 5% versus 197% for Sally Beauty Holdings, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — YSG or SBH?
Sally Beauty Holdings, Inc. (SBH) is the more profitable company, earning 5.3% net margin versus -20.9% for Yatsen Holding Limited — meaning it keeps 5.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SBH leads at 8.9% versus -12.4% for YSG. At the gross margin level — before operating expenses — YSG leads at 77.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is YSG or SBH more undervalued right now?
On forward earnings alone, Yatsen Holding Limited (YSG) trades at 2.5x forward P/E versus 7.8x for Sally Beauty Holdings, Inc. — 5.3x cheaper on a one-year earnings basis.
07Which pays a better dividend — YSG or SBH?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is YSG or SBH better for a retirement portfolio?
For long-horizon retirement investors, Sally Beauty Holdings, Inc. (SBH) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.85)). Both have compounded well over 10 years (SBH: -49.1%, YSG: -95.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between YSG and SBH?
Both stocks operate in the Consumer Cyclical sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: YSG is a small-cap quality compounder stock; SBH is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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