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Side-by-side financial comparison of ENERGIZER HOLDINGS, INC. (ENR) and Sally Beauty Holdings, Inc. (SBH). Click either name above to swap in a different company.
Sally Beauty Holdings, Inc. is the larger business by last-quarter revenue ($943.2M vs $778.9M, roughly 1.2× ENERGIZER HOLDINGS, INC.). Sally Beauty Holdings, Inc. runs the higher net margin — 4.8% vs -0.4%, a 5.3% gap on every dollar of revenue. On growth, ENERGIZER HOLDINGS, INC. posted the faster year-over-year revenue change (6.5% vs 0.6%). ENERGIZER HOLDINGS, INC. produced more free cash flow last quarter ($124.2M vs $57.5M). Over the past eight quarters, ENERGIZER HOLDINGS, INC.'s revenue compounded faster (8.4% CAGR vs 1.9%).
Energizer Holdings, Inc. is an American manufacturer and one of the world's largest manufacturers of batteries, headquartered in Clayton, Missouri. It produces batteries under the Energizer, Ray-O-Vac, Varta, and Eveready brand names and formerly owned several personal care businesses until it separated that side of the business into a new company called Edgewell Personal Care in 2015.
Sally Beauty Holdings, Inc. is an American international specialty retailer and distributor of professional beauty supplies with revenues of more than $3.9 billion annually.
ENR vs SBH — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $778.9M | $943.2M |
| Net Profit | $-3.4M | $45.6M |
| Gross Margin | 32.9% | 51.2% |
| Operating Margin | -0.6% | 8.1% |
| Net Margin | -0.4% | 4.8% |
| Revenue YoY | 6.5% | 0.6% |
| Net Profit YoY | -115.2% | -25.3% |
| EPS (diluted) | — | $0.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $778.9M | $943.2M | ||
| Q3 25 | $832.8M | $947.1M | ||
| Q2 25 | $725.3M | $933.3M | ||
| Q1 25 | $662.9M | $883.1M | ||
| Q4 24 | $731.7M | $937.9M | ||
| Q3 24 | $805.7M | $935.0M | ||
| Q2 24 | $701.4M | $942.3M | ||
| Q1 24 | $663.3M | $908.4M |
| Q4 25 | $-3.4M | $45.6M | ||
| Q3 25 | $34.9M | $49.9M | ||
| Q2 25 | $153.5M | $45.7M | ||
| Q1 25 | $28.3M | $39.2M | ||
| Q4 24 | $22.3M | $61.0M | ||
| Q3 24 | $47.6M | $48.1M | ||
| Q2 24 | $-43.8M | $37.7M | ||
| Q1 24 | $32.4M | $29.2M |
| Q4 25 | 32.9% | 51.2% | ||
| Q3 25 | 36.6% | 52.2% | ||
| Q2 25 | 55.1% | 51.5% | ||
| Q1 25 | 39.1% | 52.0% | ||
| Q4 24 | 36.8% | 50.8% | ||
| Q3 24 | 38.1% | 51.2% | ||
| Q2 24 | 39.5% | 51.0% | ||
| Q1 24 | 38.2% | 51.0% |
| Q4 25 | -0.6% | 8.1% | ||
| Q3 25 | 6.4% | 8.4% | ||
| Q2 25 | 22.6% | 8.4% | ||
| Q1 25 | 5.5% | 7.9% | ||
| Q4 24 | 4.1% | 10.7% | ||
| Q3 24 | 7.4% | 8.8% | ||
| Q2 24 | -8.2% | 7.6% | ||
| Q1 24 | 6.4% | 6.6% |
| Q4 25 | -0.4% | 4.8% | ||
| Q3 25 | 4.2% | 5.3% | ||
| Q2 25 | 21.2% | 4.9% | ||
| Q1 25 | 4.3% | 4.4% | ||
| Q4 24 | 3.0% | 6.5% | ||
| Q3 24 | 5.9% | 5.1% | ||
| Q2 24 | -6.2% | 4.0% | ||
| Q1 24 | 4.9% | 3.2% |
| Q4 25 | — | $0.45 | ||
| Q3 25 | — | $0.49 | ||
| Q2 25 | — | $0.44 | ||
| Q1 25 | — | $0.38 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | — | $0.45 | ||
| Q2 24 | — | $0.36 | ||
| Q1 24 | — | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $214.8M | $157.2M |
| Total DebtLower is stronger | — | $842.5M |
| Stockholders' EquityBook value | $141.3M | $823.6M |
| Total Assets | $4.4B | $2.9B |
| Debt / EquityLower = less leverage | — | 1.02× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $214.8M | $157.2M | ||
| Q3 25 | $236.2M | $149.2M | ||
| Q2 25 | $171.1M | $112.8M | ||
| Q1 25 | $139.3M | $92.2M | ||
| Q4 24 | $195.9M | $105.5M | ||
| Q3 24 | $216.9M | $108.0M | ||
| Q2 24 | $146.7M | $97.4M | ||
| Q1 24 | $158.1M | $97.2M |
| Q4 25 | — | $842.5M | ||
| Q3 25 | $3.4B | $862.0M | ||
| Q2 25 | $3.2B | $882.4M | ||
| Q1 25 | $3.2B | $902.8M | ||
| Q4 24 | $3.1B | $938.1M | ||
| Q3 24 | $3.2B | $978.3M | ||
| Q2 24 | $3.2B | $978.9M | ||
| Q1 24 | $3.2B | $978.4M |
| Q4 25 | $141.3M | $823.6M | ||
| Q3 25 | $169.9M | $794.2M | ||
| Q2 25 | $183.2M | $762.9M | ||
| Q1 25 | $133.9M | $699.8M | ||
| Q4 24 | $140.6M | $656.5M | ||
| Q3 24 | $135.8M | $628.5M | ||
| Q2 24 | $123.4M | $577.7M | ||
| Q1 24 | $191.3M | $550.9M |
| Q4 25 | $4.4B | $2.9B | ||
| Q3 25 | $4.6B | $2.9B | ||
| Q2 25 | $4.5B | $2.7B | ||
| Q1 25 | $4.2B | $2.7B | ||
| Q4 24 | $4.2B | $2.7B | ||
| Q3 24 | $4.3B | $2.8B | ||
| Q2 24 | $4.2B | $2.7B | ||
| Q1 24 | $4.3B | $2.7B |
| Q4 25 | — | 1.02× | ||
| Q3 25 | 20.28× | 1.09× | ||
| Q2 25 | 17.57× | 1.16× | ||
| Q1 25 | 23.56× | 1.29× | ||
| Q4 24 | 22.17× | 1.43× | ||
| Q3 24 | 23.51× | 1.56× | ||
| Q2 24 | 26.04× | 1.69× | ||
| Q1 24 | 16.86× | 1.78× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $149.5M | $93.2M |
| Free Cash FlowOCF − Capex | $124.2M | $57.5M |
| FCF MarginFCF / Revenue | 15.9% | 6.1% |
| Capex IntensityCapex / Revenue | 3.2% | 3.8% |
| Cash ConversionOCF / Net Profit | — | 2.05× |
| TTM Free Cash FlowTrailing 4 quarters | $145.0M | $216.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $149.5M | $93.2M | ||
| Q3 25 | $61.5M | $120.9M | ||
| Q2 25 | $21.4M | $69.4M | ||
| Q1 25 | $-12.8M | $51.1M | ||
| Q4 24 | $77.0M | $33.5M | ||
| Q3 24 | $168.9M | $110.7M | ||
| Q2 24 | $45.8M | $47.9M | ||
| Q1 24 | $36.8M | $36.9M |
| Q4 25 | $124.2M | $57.5M | ||
| Q3 25 | $46.7M | $78.0M | ||
| Q2 25 | $7.9M | $49.1M | ||
| Q1 25 | $-33.8M | $32.2M | ||
| Q4 24 | $42.4M | $13.4M | ||
| Q3 24 | $141.5M | $73.3M | ||
| Q2 24 | $27.3M | $28.7M | ||
| Q1 24 | $10.3M | $22.8M |
| Q4 25 | 15.9% | 6.1% | ||
| Q3 25 | 5.6% | 8.2% | ||
| Q2 25 | 1.1% | 5.3% | ||
| Q1 25 | -5.1% | 3.6% | ||
| Q4 24 | 5.8% | 1.4% | ||
| Q3 24 | 17.6% | 7.8% | ||
| Q2 24 | 3.9% | 3.1% | ||
| Q1 24 | 1.6% | 2.5% |
| Q4 25 | 3.2% | 3.8% | ||
| Q3 25 | 1.8% | 4.5% | ||
| Q2 25 | 1.9% | 2.2% | ||
| Q1 25 | 3.2% | 2.1% | ||
| Q4 24 | 4.7% | 2.1% | ||
| Q3 24 | 3.4% | 4.0% | ||
| Q2 24 | 2.6% | 2.0% | ||
| Q1 24 | 4.0% | 1.6% |
| Q4 25 | — | 2.05× | ||
| Q3 25 | 1.76× | 2.42× | ||
| Q2 25 | 0.14× | 1.52× | ||
| Q1 25 | -0.45× | 1.30× | ||
| Q4 24 | 3.45× | 0.55× | ||
| Q3 24 | 3.55× | 2.30× | ||
| Q2 24 | — | 1.27× | ||
| Q1 24 | 1.14× | 1.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENR
| Alkaline Batteries | $666.5M | 86% |
| Auto Care | $93.7M | 12% |
| Lights | $18.7M | 2% |
SBH
| Sally Beauty Supply | $531.6M | 56% |
| Beauty Systems Group | $411.6M | 44% |
