Sally Beauty vs Signet Jewelers
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The short version
- Signet Jewelers is the larger business, with $6.8B of revenue in fiscal 2026 against $3.7B for Sally Beauty, about 1.8 times as much.
- Signet Jewelers grew revenue faster (1.6%, against −0.4%).
- Sally Beauty kept more of each dollar of sales as operating profit (8.9% operating margin, against 5.8%).
- Signet Jewelers turned more of its sales into free cash flow (7.7% FCF margin, against 4.7%).
- Signet Jewelers earned a higher return on the capital invested in it (24.9%, against 16.1%).
- Investors pay more for each dollar of Signet Jewelers’s earnings: a P/E of 13.6x against 9.1x for Sally Beauty.
| Latest fiscal year | SBH · FY25 | SIG · FY26 |
|---|---|---|
| Size | ||
| Market cap | $1.7B | $4.6B |
| Revenue | $3.7B | $6.8B |
| Free cash flow | $173M | $525M |
| Net income | $196M | $294M |
| Growth | ||
| Revenue growth | −0.4% | 1.6% |
| 5-year growth | 1.0% | 5.5% |
| Share count change | −2.9% | −5.7% |
| Profitability | ||
| Gross margin | 51.6% | 39.6% |
| Operating margin | 8.9% | 5.8% |
| Net margin | 5.3% | 4.3% |
| FCF margin | 4.7% | 7.7% |
| Return on capital | 16.1% | 24.9% |
| Return on equity | 27.5% | 15.4% |
| Balance sheet | ||
| Net debt | $726M | −$875M |
| Net debt / EBITDA | 1.7x | −1.6x |
| Dividends and buybacks | $54.0M | $257M |
| Valuation & quality | ||
| P/E | 9.1x | 13.6x |
| Piotroski F-score | 8 | 8 |
Revenue
FY17
SBH $3.9B
SIG $6.4B
FY18
SBH $3.9B
SIG $6.3B
FY19
SBH $3.9B
SIG $6.2B
FY20
SBH $3.5B
SIG $6.1B
FY21
SBH $3.9B
SIG $5.2B
FY22
SBH $3.8B
SIG $7.8B
FY23
SBH $3.7B
SIG $7.8B
FY24
SBH $3.7B
SIG $7.2B
FY25
SBH $3.7B
SIG $6.7B
FY26
SBH —
SIG $6.8B
SBH
SIG
Operating margin
FY17
SBH 12.2%
SIG 11.9%
FY18
SBH 10.9%
SIG 9.3%
FY19
SBH 11.8%
SIG −12.2%
FY20
SBH 7.4%
SIG 2.6%
FY21
SBH 10.8%
SIG −1.1%
FY22
SBH 8.9%
SIG 11.5%
FY23
SBH 8.7%
SIG 7.7%
FY24
SBH 7.6%
SIG 8.7%
FY25
SBH 8.9%
SIG 1.7%
FY26
SBH —
SIG 5.8%
SBH
SIG
Free cash flow
FY17
SBH $254M
SIG $400M
FY18
SBH $286M
SIG $1.7B
FY19
SBH $213M
SIG $564M
FY20
SBH $316M
SIG $419M
FY21
SBH $308M
SIG $1.3B
FY22
SBH $57.3M
SIG $1.1B
FY23
SBH $159M
SIG $659M
FY24
SBH $145M
SIG $421M
FY25
SBH $173M
SIG $438M
FY26
SBH —
SIG $525M
SBH
SIG
Return on capital
FY17
SBH 20.5%
SIG 14.1%
FY18
SBH 23.0%
SIG 16.5%
FY19
SBH 23.5%
SIG −24.8%
FY20
SBH 13.1%
SIG 7.6%
FY21
SBH 23.9%
SIG −5.3%
FY22
SBH 19.7%
SIG —
FY23
SBH 17.2%
SIG —
FY24
SBH 14.1%
SIG 83.2%
FY25
SBH 16.1%
SIG 5.1%
FY26
SBH —
SIG 24.9%
SBH
SIG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.