Sally Beauty Holdings (SBH) FY2013 results: revenue $3.6 billion, up 2.8% on the year
Sally Beauty Holdings, Inc. (SBH) reported revenue of $3.6 billion for fiscal 2013, the year ended 30 September 2013, up 2.8% on the year before. Net income was $261 million, up 12.1%, and diluted earnings per share $1.48. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2013.
Revenue
$3.6 billion
+2.8% on the year
FY2008FY2013
Operating margin
14.4%
14.2% a year earlier
FY2008FY2013
Net income
$261 million
+12.1% on the year
FY2008FY2013
Diluted EPS
$1.48
+19.4% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
3,622
3,524
3,269
+2.8%
Cost of revenue
1,827
1,780
1,675
+2.6%
Gross profit
1,795
1,743
1,595
+3.0%
Gross margin
49.6%
49.5%
48.8%
Selling, general and administrative
1,203
1,179
1,086
+2.0%
Operating income
520
499
448
+4.2%
Operating margin
14.4%
14.2%
13.7%
Interest expense
108
139
113
-22.3%
Pre-tax income
413
361
336
+14.3%
Income tax
152
128
122
+18.5%
Effective tax rate
36.7%
35.4%
36.4%
Net income
261
233
214
+12.1%
Net margin
7.2%
6.6%
6.5%
Diluted EPS
$1.48
$1.24
$1.14
+19.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
310
298
292
+4.3%
Capital expenditure
84.8
69.1
59.6
+22.7%
Free cash flow
226
228
232
-1.2%
Free cash flow margin
6.2%
6.5%
7.1%
Depreciation and amortisation
72.2
64.7
59.7
+11.6%
Share-based compensation
19.2
16.9
15.6
+13.9%
Buybacks
510
200
n/a
+154.9%
Diluted shares, weighted
176m
189m
188m
-6.6%
Shares outstanding at period end
164m
180m
184m
-8.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
-303
-115
-219
Debt
1,686
1,612
1,407
+4.6%
Other liabilities
542
569
541
-4.7%
Total liabilities and equity
1,924
2,066
1,729
-6.8%
Fixed assets
230
203
182
+13.3%
Goodwill
538
532
506
+1.1%
Intangible assets
130
128
130
+1.3%
Cash and equivalents
47.1
240
63.5
-80.4%
Receivables
57.0
59.5
62.0
-4.1%
Inventory
808
735
665
+9.9%
Other assets
114
167
120
-31.8%
Total assets
1,924
2,066
1,729
-6.8%
10-K for the year ended 30 September 2013, filed 14 November 2013: the filing.