The company has successfully improved its financial solvency by reducing total debt from $1.7 billion in 2024Q1 to $1.5 billion in 2026Q2.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 |
|---|
| Total Current Assets | 1.29B | 1.3B | 1.31B | 1.23B | 1.13B | 1.38B | 1.43B | 1.16B | 1.16B | 1.17B | 1.17B | 1.19B | 1.1B | 1.02B | 1.16B | 879.15M | 794.77M | 715.92M | 805.65M | 712.19M | 770.29M | 651.44M | 625.57M |
| Cash & Short-Term Investments | 157.4M | 149.16M | 107.96M | 123M | 70.56M | 400.96M | 514.15M | 71.5M | 77.3M | 63.76M | 86.62M | 140.04M | 106.58M | 47.12M | 240.22M | 63.48M | 59.49M | 54.45M | 99.79M | 38.27M | 107.57M | 38.61M | 68M |
| Cash Only | 157.4M | 149.16M | 107.96M | 123M | 70.56M | 400.96M | 514.15M | 71.5M | 77.3M | 63.76M | 86.62M | 140.04M | 106.58M | 47.12M | 240.22M | 63.48M | 59.49M | 54.45M | 99.79M | 38.27M | 107.57M | 38.61M | 45.45M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22.55M |
| Accounts Receivable | 101.63M | 116.56M | 92.19M | 75.88M | 72.28M | 66.58M | 56.43M | 104.54M | 90.49M | 92.24M | 83.98M | 91.09M | 98.5M | 101.18M | 125.49M | 95.53M | 84.5M | 67.74M | 67.17M | 73.6M | 66.69M | 70.98M | 55.63M |
| Days Sales Outstanding | 10.24 | 11.49 | 9.05 | 7.43 | 6.91 | 6.27 | 5.86 | 9.84 | 8.4 | 8.55 | 7.76 | 8.67 | 9.58 | 10.2 | 13 | 10.67 | 10.58 | 9.38 | 9.26 | 10.69 | 10.26 | 11.49 | 9.68 |
| Inventory | 986.79M | 987.58M | 1.04B | 975.22M | 936.37M | 871.35M | 814.5M | 952.91M | 944.34M | 930.86M | 907.34M | 885.21M | 828.43M | 808.31M | 735.36M | 665.25M | 604.36M | 559.69M | 598.2M | 569.4M | 574.98M | 525.13M | 483.48M |
| Days Inventory Outstanding | 201.43 | 201.3 | 207.13 | 193.9 | 181.98 | 165.63 | 165.28 | 176.92 | 173.37 | 172.17 | 166.53 | 166.85 | 159.71 | 161.49 | 150.76 | 145.01 | 145.92 | 146.62 | 154.46 | 152.82 | 163.15 | 156.17 | 153.88 |
| Other Current Assets | 46.94M | 48.15M | 68.54M | 53.9M | 53.19M | 44.69M | 48.01M | 34.61M | 42.96M | 55.22M | 94.89M | 70.76M | 70.64M | 32.49M | 33.47M | 28.54M | 22.94M | 15.55M | 20.74M | 15.27M | 10.79M | 7.67M | 10.16M |
| Total Non-Current Assets | 1.56B | 1.57B | 1.49B | 1.5B | 1.44B | 1.46B | 1.46B | 934.89M | 942.33M | 952.59M | 959.24M | 907.25M | 925.82M | 934.27M | 901.89M | 849.45M | 794.64M | 774.81M | 721.38M | 692.32M | 568.55M | 574.07M | 476.86M |
| Property, Plant & Equipment | 920.74M | 930.98M | 852.45M | 868.44M | 830.05M | 845.05M | 840.66M | 319.63M | 308.36M | 313.72M | 319.56M | 270.85M | 238.11M | 229.54M | 202.66M | 182.49M | 168.12M | 151.25M | 156.26M | 154.07M | 142.74M | 149.35M | 125.81M |
| Fixed Asset Turnover | 3.95x | 3.98x | 4.36x | 4.29x | 4.60x | 4.59x | 4.18x | 12.13x | 12.75x | 12.55x | 12.37x | 14.16x | 15.76x | 15.78x | 17.39x | 17.91x | 17.35x | 17.43x | 16.95x | 16.32x | 16.63x | 15.09x | 16.67x |
| Goodwill | 539.06M | 540.67M | 538.27M | 533.08M | 526.07M | 541.21M | 540.04M | 530.79M | 535.92M | 537.79M | 532.71M | 524.37M | 536.34M | 538.28M | 532.33M | 505.87M | 478.24M | 494.13M | 424.96M | 406.62M | 364.69M | 353.52M | 304.78M |
| Intangible Assets | 51.38M | 53.02M | 59.96M | 55.17M | 50.31M | 55.53M | 58.28M | 62.05M | 72.7M | 80.31M | 92.96M | 98.85M | 114.74M | 130.1M | 128.44M | 129.66M | 109.35M | 78.69M | 85.43M | 70.5M | 53.24M | 48.28M | 17.47M |
| Long-Term Investments | 370K | 59K | 0 | 4.67M | 3.86M | 35K | -92.09M | -80.39M | -75.97M | 5.18M | 0 | -33.71M | 0 | 0 | -33.47M | 0 | 0 | 0 | -20.74M | 0 | -10.33M | 0 | 0 |
| Other Non-Current Assets | 49.35M | 44.91M | 36.91M | 40.56M | 38.03M | 21.77M | 23.07M | 22.43M | 25.35M | 20.78M | 14M | 13.19M | 36.63M | 36.35M | 38.46M | 31.43M | 38.93M | 50.74M | 54.72M | 61.12M | 7.89M | 22.91M | 28.79M |
| Total Assets | 2.85B | 2.87B | 2.79B | 2.73B | 2.58B | 2.85B | 2.9B | 2.1B | 2.1B | 2.12B | 2.13B | 2.09B | 2.03B | 1.95B | 2.07B | 1.73B | 1.59B | 1.49B | 1.53B | 1.4B | 1.34B | 1.23B | 1.1B |
| Asset Turnover | 1.32x | 1.29x | 1.33x | 1.37x | 1.48x | 1.36x | 1.21x | 1.85x | 1.87x | 1.85x | 1.85x | 1.83x | 1.85x | 1.86x | 1.71x | 1.89x | 1.83x | 1.77x | 1.73x | 1.79x | 1.77x | 1.84x | 1.90x |
| Asset Growth % | 14.25% | 2.8% | 2.48% | 5.76% | -9.49% | -1.66% | 37.97% | 0.05% | -1.21% | -0.42% | 1.8% | 3.17% | 4.1% | -5.6% | 19.51% | 8.76% | 6.62% | -2.38% | 8.72% | 4.9% | 9.25% | 11.16% | - |
| Total Current Liabilities | 553.49M | 575.97M | 592.67M | 579.26M | 667.91M | 664.88M | 563.36M | 456.08M | 491.17M | 574.57M | 488.67M | 491.7M | 463.54M | 542.65M | 477.39M | 460.01M | 407.65M | 374.19M | 438.45M | 358M | 291.18M | 268.96M | 247.86M |
| Accounts Payable | 222.63M | 224.51M | 269.42M | 258.88M | 275.72M | 291.63M | 236.33M | 278.69M | 303.24M | 307.75M | 271.38M | 275.92M | 259.46M | 273.46M | 262.21M | 262.11M | 224.93M | 193.59M | 171.96M | 176.66M | 176.62M | 134.3M | 144.97M |
| Days Payables Outstanding | 43.18 | 45.76 | 53.83 | 51.47 | 53.58 | 55.43 | 47.96 | 51.74 | 55.67 | 56.92 | 49.81 | 52.01 | 50.02 | 54.63 | 53.76 | 57.13 | 54.31 | 50.72 | 44.4 | 47.41 | 50.12 | 39.94 | 46.14 |
| Short-Term Debt | 161.05M | 4M | 4.13M | 4.17M | 68.66M | 194K | 180K | 1K | 5.5M | 96.08M | 716K | 755K | 974K | 78.02M | 1.91M | 3M | 3.04M | 24.52M | 100.6M | 17.15M | 503K | 13.88M | 247K |
| Deferred Revenue (Current) | 44.47M | 14.2M | 16.08M | 18.26M | 18.81M | 18.54M | 16.73M | 18.16M | 18.45M | 20.59M | 23.22M | 22.67M | 21.51M | 20.89M | 19M | 0 | 0 | 0 | 154.71M | 11.21M | 0 | 0 | 0 |
| Other Current Liabilities | 81.43M | 92.39M | 0 | 75.19M | 83.56M | 114.27M | 99.19M | 87.88M | 100.66M | 86.1M | 115.69M | 104.72M | 85.58M | 93.07M | 101.33M | 106.71M | 93.05M | 93.35M | 95.83M | 110.75M | 58.17M | 70.04M | 46.87M |
| Current Ratio | 2.34x | 2.26x | 2.20x | 2.12x | 1.70x | 2.08x | 2.54x | 2.55x | 2.35x | 2.04x | 2.40x | 2.41x | 2.38x | 1.87x | 2.44x | 1.91x | 1.95x | 1.91x | 1.84x | 1.99x | 2.65x | 2.42x | 2.52x |
| Quick Ratio | 0.55x | 0.54x | 0.45x | 0.44x | 0.29x | 0.77x | 1.10x | 0.46x | 0.43x | 0.42x | 0.54x | 0.61x | 0.59x | 0.38x | 0.90x | 0.46x | 0.47x | 0.42x | 0.47x | 0.40x | 0.67x | 0.47x | 0.57x |
| Cash Conversion Cycle | 168.49 | 167.03 | 162.35 | 149.86 | 135.31 | 116.47 | 123.18 | 135.02 | 126.1 | 123.8 | 124.48 | 123.51 | 119.27 | 117.05 | 110 | 98.54 | 102.19 | 105.28 | 119.31 | 116.09 | 123.29 | 127.73 | 117.42 |
| Total Non-Current Liabilities | 1.46B | 1.5B | 1.57B | 1.64B | 1.62B | 1.9B | 2.32B | 1.7B | 1.87B | 1.91B | 1.92B | 1.9B | 1.91B | 1.71B | 1.7B | 1.49B | 1.64B | 1.73B | 1.79B | 1.81B | 41.69M | 56.25M | 68.4M |
| Long-Term Debt | 823.05M | 861.97M | 978.25M | 1.07B | 1.08B | 1.38B | 1.8B | 1.59B | 1.77B | 1.77B | 1.78B | 1.79B | 1.81B | 1.61B | 1.62B | 1.41B | 1.56B | 1.65B | 1.72B | 1.76B | 621K | 18.83M | 34.87M |
| Capital Lease Obligations | 2.08B | 538.43M | 479.62M | 455.07M | 424.76M | 404.63M | 394.38M | 0 | 0 | 0 | 0 | 2.12M | 4.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 333.33M | 79.49M | 91.76M | 93.22M | 85.08M | 85.78M | 92.09M | 80.39M | 75.97M | 120.15M | 114.66M | 85.9M | 74.97M | 73.94M | 63.94M | 51.31M | 41.8M | 33.6M | 37.26M | 30.24M | 21.59M | 16.11M | 10.32M |
| Other Non-Current Liabilities | 21.08M | 21.03M | 22.07M | 23.14M | 22.43M | 29.06M | 32.98M | 27.76M | 30.02M | 20.14M | 21.61M | 25.62M | 27.85M | 24.29M | 24.23M | 26.15M | 40.69M | 43.59M | 29.59M | 25.38M | 19.48M | 21.31M | 23.21M |
| Total Liabilities | 2.02B | 2.08B | 2.16B | 2.22B | 2.28B | 2.57B | 2.88B | 2.16B | 2.37B | 2.49B | 2.41B | 2.39B | 2.38B | 2.25B | 2.18B | 1.95B | 2.05B | 2.11B | 2.23B | 2.17B | 332.87M | 325.21M | 316.26M |
| Total Debt | 1.52B | 1.56B | 1.6B | 1.68B | 1.73B | 1.94B | 2.34B | 1.59B | 1.77B | 1.87B | 1.78B | 1.79B | 1.81B | 1.69B | 1.62B | 1.41B | 1.56B | 1.68B | 1.83B | 1.78B | 1.12M | 32.71M | 35.12M |
| Net Debt | 1.36B | 1.41B | 1.49B | 1.55B | 1.66B | 1.54B | 1.83B | 1.52B | 1.7B | 1.8B | 1.7B | 1.65B | 1.71B | 1.64B | 1.38B | 1.35B | 1.5B | 1.62B | 1.73B | 1.74B | -106.45M | -5.9M | -10.33M |
| Debt / Equity | 1.81x | 1.97x | 2.54x | 3.29x | 5.91x | 6.92x | 151.83x | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.00x | 0.04x | 0.04x |
| Debt / EBITDA | 3.75x | 3.65x | 4.07x | 3.92x | 3.96x | 3.73x | 6.41x | 3.48x | 3.31x | 3.16x | 2.98x | 3.06x | 3.09x | 2.85x | 2.87x | 2.78x | 3.99x | 4.88x | 5.37x | 6.37x | 0.01x | 0.14x | 0.18x |
| Net Debt / EBITDA | 3.36x | 3.31x | 3.80x | 3.63x | 3.80x | 2.96x | 5.01x | 3.33x | 3.17x | 3.05x | 2.84x | 2.82x | 2.91x | 2.77x | 2.44x | 2.66x | 3.83x | 4.72x | 5.08x | 6.24x | -0.49x | -0.03x | -0.05x |
| Interest Coverage | 5.16x | 5.09x | 3.71x | 4.64x | 4.20x | 4.57x | 2.76x | 4.76x | 4.35x | 3.60x | 3.45x | 4.24x | 4.36x | 4.83x | 3.61x | 3.99x | 3.02x | 2.25x | 1.75x | 1.71x | 2409.52x | - | - |
| Total Equity | 837.87M | 794.21M | 628.53M | 508.75M | 293.64M | 280.74M | 15.44M | -60.32M | -268.56M | -363.62M | -276.17M | -297.82M | -347.05M | -303.48M | -115.08M | -218.98M | -461.27M | -615.45M | -702.96M | -767.71M | 1.01B | 900.3M | 786.16M |
| Equity Growth % | 103.6% | 26.36% | 23.55% | 73.26% | 4.59% | 1717.92% | 125.6% | 77.54% | 26.14% | -31.67% | 7.27% | 14.19% | -14.36% | -163.7% | 47.45% | 52.53% | 25.05% | 12.45% | 8.43% | -176.32% | 11.74% | 14.52% | - |
| Book Value per Share | 8.40 | 7.65 | 5.88 | 4.65 | 2.66 | 2.46 | 0.13 | -0.50 | -2.17 | -2.63 | -1.86 | -1.88 | -2.12 | -1.72 | -0.61 | -1.16 | -2.51 | -3.36 | -3.85 | -4.21 | 5.59 | 5.05 | 4.37 |
| Total Shareholders' Equity | 837.87M | 794.21M | 628.53M | 508.75M | 293.64M | 280.74M | 15.44M | -60.32M | -268.56M | -363.62M | -276.17M | -297.82M | -347.05M | -303.48M | -115.08M | -218.98M | -461.27M | -615.45M | -702.96M | -767.71M | 1.01B | 900.3M | 786.16M |
| Common Stock | 959K | 979K | 1.02M | 1.06M | 1.07M | 1.13M | 1.12M | 1.17M | 1.2M | 1.3M | 1.45M | 1.51M | 1.55M | 1.64M | 1.8M | 1.84M | 1.82M | 1.82M | 1.81M | 1.81M | 0 | 0 | 58.58M |
| Retained Earnings | 946.46M | 898.08M | 740.68M | 624.77M | 440.17M | 356.97M | 117.11M | 55.8M | -179.76M | -283.08M | -177.56M | -218.67M | -320.05M | -385.09M | -646.24M | -879.3M | -1.09B | -1.24B | -1.34B | -1.41B | 927.51M | 822.98M | 718.36M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.96M | 0 | -1.24M | 0 | -103K | -103K | -33K | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -109.54M | -104.85M | -113.17M | -122.76M | -151.85M | -94.64M | -104.7M | -117.29M | -89.99M | -81.84M | -100.05M | -77.7M | -28.55M | -9.82M | -10.65M | -22.67M | -20.28M | -15.9M | 8.69M | 34.52M | 16.28M | 13.43M | 9.22M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Professional brand leakage risk
As reported in recent financial filings, SBH has successfully reduced its debt-to-equity ratio from 3.06 in 2024Q1 to 1.81 by 2026Q2, signaling a deliberate and consistent effort to strengthen the balance sheet despite a challenging and highly competitive retail environment for specialty beauty products.
The consistent reduction in the debt-to-equity ratio suggests that management is prioritizing balance sheet health over aggressive expansion. This trend appears to provide a more robust buffer against potential cyclical downturns in the consumer discretionary sector.
Based on the company's reported figures, total debt has been managed down from $1.7 billion in 2024Q1 to $1.5 billion in 2026Q2, reflecting a disciplined approach to capital structure that likely reduces interest expense burdens and improves the company's overall financial flexibility in the long term.
The reduction in total debt, while modest, indicates a focus on deleveraging that may improve the company's credit profile. Investors should monitor whether this trajectory continues, as lower leverage is essential for maintaining operational agility in a high-frequency retail model.
According to the latest quarterly data, equity has expanded from $541.3 million in 2024Q1 to $837.9 million in 2026Q2, primarily fueled by the steady accumulation of retained earnings, which suggests that the business is generating sufficient internal capital to support its operations and strengthen its net worth.
The growth in equity base is a positive indicator of internal value creation, suggesting that the company's core operations are profitable enough to reinvest in the business. This accumulation of retained earnings provides a stronger foundation for future capital allocation decisions.
As evidenced by the financial statements, the current ratio has remained stable, hovering between 1.99 and 2.41 over the last ten quarters, which indicates that the company maintains a sufficient liquidity cushion to meet its short-term obligations without relying heavily on external financing or credit facilities.
The stability of the current ratio suggests that management is effectively balancing working capital needs with operational requirements. This liquidity position appears sufficient to navigate seasonal fluctuations in inventory and the ongoing costs associated with the store fleet rationalization program.
Based on reported figures, goodwill remains a significant component of total assets at $539.1 million in 2026Q2, representing a substantial portion of the equity base and highlighting a potential risk if future performance fails to justify the carrying value of past acquisitions in the professional segment.
The persistence of high goodwill levels suggests that the company's valuation is sensitive to the performance of its historical acquisitions. If the professional beauty market faces structural disruption, these intangible assets may be subject to impairment, which would negatively impact the reported equity position.
Quick answers to the most common questions about buying SBH stock.
As of 2025, Sally Beauty Holdings, Inc. (SBH) had total assets of $2.87B including $1.30B in current assets.
Sally Beauty Holdings, Inc. (SBH) carries total debt of $1.56B, offset by $149.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Sally Beauty Holdings, Inc. (SBH) has total shareholders' equity (book value) of $794.2M ($7.65 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Sally Beauty Holdings, Inc. (SBH) reported a current ratio of 2.26x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.