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Side-by-side financial comparison of Sally Beauty Holdings, Inc. (SBH) and MARRIOTT VACATIONS WORLDWIDE Corp (VAC). Click either name above to swap in a different company.
MARRIOTT VACATIONS WORLDWIDE Corp is the larger business by last-quarter revenue ($1.2B vs $943.2M, roughly 1.3× Sally Beauty Holdings, Inc.). Sally Beauty Holdings, Inc. runs the higher net margin — 4.8% vs -35.0%, a 39.8% gap on every dollar of revenue. On growth, Sally Beauty Holdings, Inc. posted the faster year-over-year revenue change (0.6% vs -0.7%). Sally Beauty Holdings, Inc. produced more free cash flow last quarter ($57.5M vs $-6.0M). Over the past eight quarters, MARRIOTT VACATIONS WORLDWIDE Corp's revenue compounded faster (5.2% CAGR vs 1.9%).
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.
Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. Formerly a division of Marriott International, Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. Marriott Vacations Worldwide runs more than 120 resorts with over 700,000 Owners and members in a diverse portfolio of brands under The Marriott Vacation Clubs name. Its brands include Marriott Vacation Club, The Marriott Vaca...
SBH vs VAC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $943.2M | $1.2B |
| Net Profit | $45.6M | $-431.0M |
| Gross Margin | 51.2% | — |
| Operating Margin | 8.1% | — |
| Net Margin | 4.8% | -35.0% |
| Revenue YoY | 0.6% | -0.7% |
| Net Profit YoY | -25.3% | -962.0% |
| EPS (diluted) | $0.45 | $-12.00 |
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 | $943.2M | $1.2B | ||
| Q3 25 | $947.1M | $1.2B | ||
| Q2 25 | $933.3M | $1.2B | ||
| Q1 25 | $883.1M | $1.1B | ||
| Q4 24 | $937.9M | $1.2B | ||
| Q3 24 | $935.0M | $1.2B | ||
| Q2 24 | $942.3M | $1.1B | ||
| Q1 24 | $908.4M | $1.1B |
| Q4 25 | $45.6M | $-431.0M | ||
| Q3 25 | $49.9M | $-2.0M | ||
| Q2 25 | $45.7M | $69.0M | ||
| Q1 25 | $39.2M | $56.0M | ||
| Q4 24 | $61.0M | $50.0M | ||
| Q3 24 | $48.1M | $84.0M | ||
| Q2 24 | $37.7M | $37.0M | ||
| Q1 24 | $29.2M | $47.0M |
| Q4 25 | 51.2% | — | ||
| Q3 25 | 52.2% | — | ||
| Q2 25 | 51.5% | — | ||
| Q1 25 | 52.0% | — | ||
| Q4 24 | 50.8% | — | ||
| Q3 24 | 51.2% | — | ||
| Q2 24 | 51.0% | — | ||
| Q1 24 | 51.0% | — |
| Q4 25 | 8.1% | — | ||
| Q3 25 | 8.4% | — | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | 7.9% | — | ||
| Q4 24 | 10.7% | — | ||
| Q3 24 | 8.8% | — | ||
| Q2 24 | 7.6% | — | ||
| Q1 24 | 6.6% | — |
| Q4 25 | 4.8% | -35.0% | ||
| Q3 25 | 5.3% | -0.2% | ||
| Q2 25 | 4.9% | 6.0% | ||
| Q1 25 | 4.4% | 5.0% | ||
| Q4 24 | 6.5% | 4.0% | ||
| Q3 24 | 5.1% | 6.9% | ||
| Q2 24 | 4.0% | 3.5% | ||
| Q1 24 | 3.2% | 4.2% |
| Q4 25 | $0.45 | $-12.00 | ||
| Q3 25 | $0.49 | $-0.07 | ||
| Q2 25 | $0.44 | $1.77 | ||
| Q1 25 | $0.38 | $1.46 | ||
| Q4 24 | $0.58 | $1.29 | ||
| Q3 24 | $0.45 | $2.12 | ||
| Q2 24 | $0.36 | $0.98 | ||
| Q1 24 | $0.27 | $1.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $157.2M | $406.0M |
| Total DebtLower is stronger | $842.5M | — |
| Stockholders' EquityBook value | $823.6M | $2.0B |
| Total Assets | $2.9B | $9.8B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.2M | $406.0M | ||
| Q3 25 | $149.2M | $474.0M | ||
| Q2 25 | $112.8M | $205.0M | ||
| Q1 25 | $92.2M | $196.0M | ||
| Q4 24 | $105.5M | $197.0M | ||
| Q3 24 | $108.0M | $197.0M | ||
| Q2 24 | $97.4M | $206.0M | ||
| Q1 24 | $97.2M | $237.0M |
| Q4 25 | $842.5M | — | ||
| Q3 25 | $862.0M | — | ||
| Q2 25 | $882.4M | — | ||
| Q1 25 | $902.8M | — | ||
| Q4 24 | $938.1M | — | ||
| Q3 24 | $978.3M | — | ||
| Q2 24 | $978.9M | — | ||
| Q1 24 | $978.4M | — |
| Q4 25 | $823.6M | $2.0B | ||
| Q3 25 | $794.2M | $2.5B | ||
| Q2 25 | $762.9M | $2.5B | ||
| Q1 25 | $699.8M | $2.4B | ||
| Q4 24 | $656.5M | $2.4B | ||
| Q3 24 | $628.5M | $2.4B | ||
| Q2 24 | $577.7M | $2.4B | ||
| Q1 24 | $550.9M | $2.4B |
| Q4 25 | $2.9B | $9.8B | ||
| Q3 25 | $2.9B | $10.1B | ||
| Q2 25 | $2.7B | $9.9B | ||
| Q1 25 | $2.7B | $9.9B | ||
| Q4 24 | $2.7B | $9.8B | ||
| Q3 24 | $2.8B | $9.7B | ||
| Q2 24 | $2.7B | $9.6B | ||
| Q1 24 | $2.7B | $9.9B |
| Q4 25 | 1.02× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.29× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.69× | — | ||
| Q1 24 | 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 | $93.2M | $6.0M |
| Free Cash FlowOCF − Capex | $57.5M | $-6.0M |
| FCF MarginFCF / Revenue | 6.1% | -0.5% |
| Capex IntensityCapex / Revenue | 3.8% | 1.0% |
| Cash ConversionOCF / Net Profit | 2.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | $216.8M | $-29.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $93.2M | $6.0M | ||
| Q3 25 | $120.9M | $62.0M | ||
| Q2 25 | $69.4M | $-48.0M | ||
| Q1 25 | $51.1M | $8.0M | ||
| Q4 24 | $33.5M | $100.0M | ||
| Q3 24 | $110.7M | $72.0M | ||
| Q2 24 | $47.9M | $30.0M | ||
| Q1 24 | $36.9M | $3.0M |
| Q4 25 | $57.5M | $-6.0M | ||
| Q3 25 | $78.0M | $51.0M | ||
| Q2 25 | $49.1M | $-68.0M | ||
| Q1 25 | $32.2M | $-6.0M | ||
| Q4 24 | $13.4M | $86.0M | ||
| Q3 24 | $73.3M | $58.0M | ||
| Q2 24 | $28.7M | $17.0M | ||
| Q1 24 | $22.8M | $-13.0M |
| Q4 25 | 6.1% | -0.5% | ||
| Q3 25 | 8.2% | 4.3% | ||
| Q2 25 | 5.3% | -5.9% | ||
| Q1 25 | 3.6% | -0.5% | ||
| Q4 24 | 1.4% | 6.9% | ||
| Q3 24 | 7.8% | 4.8% | ||
| Q2 24 | 3.1% | 1.6% | ||
| Q1 24 | 2.5% | -1.2% |
| Q4 25 | 3.8% | 1.0% | ||
| Q3 25 | 4.5% | 0.9% | ||
| Q2 25 | 2.2% | 1.7% | ||
| Q1 25 | 2.1% | 1.3% | ||
| Q4 24 | 2.1% | 1.1% | ||
| Q3 24 | 4.0% | 1.1% | ||
| Q2 24 | 2.0% | 1.2% | ||
| Q1 24 | 1.6% | 1.4% |
| Q4 25 | 2.05× | — | ||
| Q3 25 | 2.42× | — | ||
| Q2 25 | 1.52× | -0.70× | ||
| Q1 25 | 1.30× | 0.14× | ||
| Q4 24 | 0.55× | 2.00× | ||
| Q3 24 | 2.30× | 0.86× | ||
| Q2 24 | 1.27× | 0.81× | ||
| Q1 24 | 1.26× | 0.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SBH
| Sally Beauty Supply | $531.6M | 56% |
| Beauty Systems Group | $411.6M | 44% |
VAC
| Cost Reimbursement | $467.0M | 38% |
| Time Share | $381.0M | 31% |
| Management And Exchange | $212.0M | 17% |
| Ancillary Revenues | $64.0M | 5% |
| Management Service | $55.0M | 4% |
| Service Other | $36.0M | 3% |
