Sally Beauty Holdings (SBH) FY2018 results: revenue $3.9 billion, down 0.1% on the year
Sally Beauty Holdings, Inc. (SBH) reported revenue of $3.9 billion for fiscal 2018, the year ended 30 September 2018, down 0.1% on the year before. Net income was $258 million, up 20.0%, and diluted earnings per share $2.08. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2018.
Revenue
$3.9 billion
-0.1% on the year
FY2011FY2018
Operating margin
10.8%
12.2% a year earlier
FY2011FY2018
Net income
$258 million
+20.0% on the year
FY2011FY2018
Diluted EPS
$2.08
+33.3% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,933
3,938
3,953
-0.1%
Cost of revenue
1,988
1,973
1,989
+0.7%
Gross profit
1,944
1,965
1,964
-1.0%
Gross margin
49.4%
49.9%
49.7%
Selling, general and administrative
1,484
1,464
1,466
+1.4%
Operating income
427
479
498
-10.9%
Operating margin
10.8%
12.2%
12.6%
Interest expense
98.2
133
144
-26.1%
Pre-tax income
328
346
354
-5.0%
Income tax
70.4
131
131
-46.1%
Effective tax rate
21.4%
37.8%
37.0%
Net income
258
215
223
+20.0%
Net margin
6.6%
5.5%
5.6%
Diluted EPS
$2.08
$1.56
$1.50
+33.3%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
373
343
354
+8.6%
Capital expenditure
86.5
89.7
151
-3.5%
Free cash flow
286
254
203
+12.8%
Free cash flow margin
7.3%
6.4%
5.1%
Cash from investing
-95.3
-89.6
-175
Cash from financing
-263
-277
-232
Depreciation and amortisation
109
112
99.7
-3.1%
Share-based compensation
10.5
10.5
12.6
+0.1%
Buybacks
167
347
209
-51.9%
Diluted shares, weighted
124m
138m
149m
-10.4%
Shares outstanding at period end
120m
130m
145m
-7.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-269
-364
-276
Debt
1,795
1,891
1,800
-5.1%
Other liabilities
571
571
571
-0.1%
Total liabilities and equity
2,097
2,099
2,095
-0.1%
Fixed assets
308
314
320
-1.7%
Goodwill
536
538
533
-0.3%
Intangible assets
72.7
80.3
93.0
-9.5%
Cash and equivalents
77.3
63.8
86.6
+21.2%
Receivables
48.4
47.0
46.9
+3.0%
Inventory
944
931
907
+1.4%
Other assets
110
126
109
-12.1%
Total assets
2,097
2,099
2,095
-0.1%
10-K for the year ended 30 September 2018, filed 14 November 2018: the filing.