Forensic Analysis · Retail / Consumer Discretionary · as of Nov 9, 2026

Sally Beauty Holdings, Inc. (SBH)

A forensic read on Sally Beauty Holdings, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

3.9

Distress distance

Clean

Earnings quality

Forensic signals

27.5%

ROE

-0.4%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Sally Beauty Holdings, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 3.9, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by inventory days.

What the filings flag

206d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 201 to 206 FY2024→FY2025 (against cost of goods sold; inventory -5% vs -2% in cost of sales). Inventory ended the year no higher than it began, but days on hand lengthened on the year's average balance — watch for markdowns.

11.5%

FY2025

Return on invested capital. Return on invested capital is 11.5% in the latest fiscal year, against 11.7% in FY2023, having run between 10.2% and 11.7% across FY2023–FY2025 with no direction held. After-tax operating profit was $238M in FY2023 and $244M in FY2025, with operating income at 8.7% of revenue in FY2023, 7.6% in FY2024 and 8.9% in FY2025. The capital base behind it went from $2.0B in FY2023 to $2.1B in FY2025 (+5%), while the revenue it carried went from $3.7B to $3.7B.

Key fundamentals

Latest Revenue$3.70B

Revenue Growth YoY-0.4%

Revenue CAGR (2yr)-0.4%

Net Margin5.3%

Free Cash Flow$172.7M

Return on Equity27.5%

Debt / Equity1.09x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.