Sally Beauty Holdings (SBH) FY2020 results: revenue $3.5 billion, down 9.3% on the year
Sally Beauty Holdings, Inc. (SBH) reported revenue of $3.5 billion for fiscal 2020, the year ended 30 September 2020, down 9.3% on the year before. Net income was $113 million, down 58.3%, and diluted earnings per share $0.99. The figures are the company's own, from the 10-K it filed with the SEC on 24 November 2020.
Revenue
$3.5 billion
-9.3% on the year
FY2013FY2020
Operating margin
7.4%
11.8% a year earlier
FY2013FY2020
Net income
$113 million
-58.3% on the year
FY2013FY2020
Diluted EPS
$0.99
-56.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,514
3,876
3,933
-9.3%
Cost of revenue
1,799
1,966
1,988
-8.5%
Gross profit
1,716
1,911
1,944
-10.2%
Gross margin
48.8%
49.3%
49.4%
Selling, general and administrative
1,443
1,453
1,484
-0.7%
Operating income
259
458
427
-43.6%
Operating margin
7.4%
11.8%
10.8%
Interest expense
98.8
96.3
98.2
+2.6%
Pre-tax income
160
362
328
-55.8%
Income tax
46.7
90.5
70.4
-48.4%
Effective tax rate
29.2%
25.0%
21.4%
Net income
113
272
258
-58.3%
Net margin
3.2%
7.0%
6.6%
Diluted EPS
$0.99
$2.26
$2.08
-56.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
427
320
373
+33.2%
Capital expenditure
111
108
86.5
+2.9%
Free cash flow
316
213
286
+48.6%
Free cash flow margin
9.0%
5.5%
7.3%
Cash from investing
-124
-95.9
-95.3
Cash from financing
140
-229
-263
Depreciation and amortisation
107
108
109
-0.8%
Share-based compensation
8.4
9.2
10.5
-8.2%
Buybacks
61.4
47.4
167
+29.4%
Diluted shares, weighted
115m
120m
124m
-4.7%
Shares outstanding at period end
112m
117m
120m
-3.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
15.4
-60.3
-269
Debt
1,813
1,609
1,795
+12.7%
Operating lease liabilities
394
n/a
n/a
Finance lease liabilities
0.7
n/a
n/a
Other liabilities
671
549
571
+22.2%
Total liabilities and equity
2,895
2,098
2,097
+38.0%
Fixed assets
315
320
308
-1.4%
Goodwill
540
531
536
+1.7%
Intangible assets
58.3
62.1
72.7
-6.1%
Cash and equivalents
514
71.5
77.3
+619.1%
Receivables
35.6
43.1
48.4
-17.5%
Inventory
815
953
944
-14.5%
Other assets
618
118
110
+421.4%
Total assets
2,895
2,098
2,097
+38.0%
10-K for the year ended 30 September 2020, filed 24 November 2020: the filing.