Sally Beauty Holdings (SBH) FY2014 results: revenue $3.8 billion, up 3.6% on the year
Sally Beauty Holdings, Inc. (SBH) reported revenue of $3.8 billion for fiscal 2014, the year ended 30 September 2014, up 3.6% on the year before. Net income was $246 million, down 5.8%, and diluted earnings per share $1.51. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2014.
Revenue
$3.8 billion
+3.6% on the year
FY2008FY2014
Operating margin
13.5%
14.4% a year earlier
FY2008FY2014
Net income
$246 million
-5.8% on the year
FY2008FY2014
Diluted EPS
$1.51
+2.0% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
3,753
3,622
3,524
+3.6%
Cost of revenue
1,893
1,827
1,780
+3.6%
Gross profit
1,860
1,795
1,743
+3.6%
Gross margin
49.6%
49.6%
49.5%
Selling, general and administrative
1,274
1,203
1,179
+5.9%
Operating income
507
520
499
-2.6%
Operating margin
13.5%
14.4%
14.2%
Interest expense
116
108
139
+8.0%
Pre-tax income
391
413
361
-5.3%
Income tax
145
152
128
-4.5%
Effective tax rate
37.0%
36.7%
35.4%
Net income
246
261
233
-5.8%
Net margin
6.6%
7.2%
6.6%
Diluted EPS
$1.51
$1.48
$1.24
+2.0%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
316
310
298
+1.8%
Capital expenditure
76.6
84.8
69.1
-9.7%
Free cash flow
239
226
228
+6.1%
Free cash flow margin
6.4%
6.2%
6.5%
Depreciation and amortisation
79.7
72.2
64.7
+10.3%
Share-based compensation
22.1
19.2
16.9
+15.1%
Buybacks
333
510
200
-34.6%
Diluted shares, weighted
163m
176m
189m
-7.2%
Shares outstanding at period end
155m
164m
180m
-5.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
-347
-303
-115
Debt
1,800
1,686
1,612
+6.8%
Other liabilities
551
542
569
+1.7%
Total liabilities and equity
2,004
1,924
2,066
+4.1%
Fixed assets
238
230
203
+3.7%
Goodwill
536
538
532
-0.4%
Intangible assets
115
130
128
-11.8%
Cash and equivalents
107
47.1
240
+126.2%
Receivables
51.8
57.0
59.5
-9.2%
Inventory
828
808
735
+2.5%
Other assets
128
114
167
+12.5%
Total assets
2,004
1,924
2,066
+4.1%
10-K for the year ended 30 September 2014, filed 13 November 2014: the filing.