Sally Beauty Holdings, Inc.
For the period ended Sep 30, 2026. Filed Nov 10, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2026 · Filed Nov 10, 2026
SBH$20.54+5.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| 2026 | 2025 | 2024 | |
|---|---|---|---|
| Cash Flows from Operating Activities: | |||
| Net earnings | $200,078 | $195,878 | $153,414 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 100,855 | 99,921 | 109,738 |
| Share-based compensation expense | 23,568 | 19,249 | 17,172 |
| Amortization of deferred financing costs | 1,904 | 2,114 | 2,441 |
| Loss on extinguishment of debt | 551 | 1,120 | 3,734 |
| Impairment of long-lived assets, including operating lease assets | 418 | 5,394 | 605 |
| Gain on sale of long-lived assets | — | (27,187) | — |
| Gain on divestiture of subsidiary | — | (768) | — |
| Deferred income taxes | 11,873 | (12,196) | (1,663) |
| Changes in (exclusive of effects of acquisitions): | |||
| Trade accounts receivable | 1,482 | 1,821 | 230 |
| Accounts receivable, other | 24,364 | (25,764) | (14,822) |
| Inventory | (18,085) | 50,071 | (54,600) |
| Other current assets | (6,322) | 3,314 | 2,818 |
| Other assets | (11,609) | (5,923) | (1,836) |
| Accounts payable and accrued liabilities | (10,633) | (31,767) | 14,919 |
| Income taxes payable | (2,242) | (15,848) | 17,867 |
| Operating lease assets and liabilities | 6,337 | 16,293 | (2,412) |
| Other liabilities | 17 | (891) | (1,077) |
| Net cash provided by operating activities | 322,556 | 274,831 | 246,528 |
| Cash Flows from Investing Activities: | |||
| Payments for property and equipment | (112,442) | (102,145) | (101,165) |
| Proceeds from sale of property and equipment, net | — | 43,574 | — |
| Proceeds from divestiture of subsidiary | — | 3,128 | — |
| Acquisitions, net of cash acquired | — | (2,841) | (7,745) |
| Net cash used in investing activities | (112,442) | (58,284) | (108,910) |
| Cash Flows from Financing Activities: | |||
| Proceeds from issuance of long-term debt and ABL facility | — | 502,000 | 1,541,458 |
| Repayments of long-term debt and ABL facility | (80,000) | (621,122) | (1,625,595) |
| Debt issuance costs | — | (1,525) | (9,202) |
| Payments for common stock repurchased | (113,859) | (53,996) | (60,392) |
| Proceeds from stock options exercised | 859 | 1,500 | 1,763 |
| Employee withholding taxes paid related to net share settlement of equity awards | (7,356) | (5,280) | (1,766) |
| Net cash used in financing activities | (200,356) | (178,423) | (153,734) |
| Effect of foreign exchange rate changes on cash and cash equivalents | (757) | 3,077 | 1,076 |
| Net increase (decrease) in cash and cash equivalents | 9,001 | 41,201 | (15,040) |
| Cash and cash equivalents, beginning of period | 149,162 | 107,961 | 123,001 |
| Cash and cash equivalents, end of period | $158,163 | $149,162 | $107,961 |
| Supplemental Cash Flow Information: | |||
| Interest paid | $55,701 | $64,097 | $86,715 |
| Capital expenditures incurred but not paid | $10,992 | $24,067 | $16,328 |
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