Sally Beauty Holdings (SBH) FY2012 results: revenue $3.5 billion, up 7.8% on the year
Sally Beauty Holdings, Inc. (SBH) reported revenue of $3.5 billion for fiscal 2012, the year ended 30 September 2012, up 7.8% on the year before. Net income was $233 million, up 9.0%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 15 November 2012.
Revenue
$3.5 billion
+7.8% on the year
FY2008FY2012
Operating margin
14.2%
13.7% a year earlier
FY2008FY2012
Net income
$233 million
+9.0% on the year
FY2008FY2012
Diluted EPS
$1.24
+8.8% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
3,524
3,269
2,916
+7.8%
Cost of revenue
1,780
1,675
1,512
+6.3%
Gross profit
1,743
1,595
1,404
+9.3%
Gross margin
49.5%
48.8%
48.2%
Selling, general and administrative
1,179
1,086
1,012
+8.5%
Operating income
499
448
341
+11.3%
Operating margin
14.2%
13.7%
11.7%
Interest expense
139
113
113
+23.1%
Pre-tax income
361
336
228
+7.4%
Income tax
128
122
84.1
+4.6%
Effective tax rate
35.4%
36.4%
36.9%
Net income
233
214
144
+9.0%
Net margin
6.6%
6.5%
4.9%
Diluted EPS
$1.24
$1.14
$0.78
+8.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
298
292
217
+2.0%
Capital expenditure
69.1
59.6
48.7
+16.0%
Free cash flow
228
232
169
-1.6%
Free cash flow margin
6.5%
7.1%
5.8%
Cash from investing
n/a
n/a
-85.0
Cash from financing
n/a
n/a
-127
Depreciation and amortisation
64.7
59.7
51.1
+8.3%
Share-based compensation
16.9
15.6
12.8
+8.3%
Buybacks
200
n/a
0.1
Diluted shares, weighted
189m
188m
184m
+0.3%
Shares outstanding at period end
180m
184m
182m
-2.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
-115
-219
-461
Debt
1,612
1,407
1,560
+14.6%
Other liabilities
569
541
491
+5.2%
Total liabilities and equity
2,066
1,729
1,589
+19.5%
Fixed assets
203
182
168
+11.1%
Goodwill
532
506
478
+5.2%
Intangible assets
128
130
109
-0.9%
Cash and equivalents
240
63.5
59.5
+278.4%
Receivables
59.5
62.0
55.0
-4.0%
Inventory
735
665
604
+10.5%
Other assets
167
120
115
+39.6%
Total assets
2,066
1,729
1,589
+19.5%
10-K for the year ended 30 September 2012, filed 15 November 2012: the filing.