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Side-by-side financial comparison of Sally Beauty Holdings, Inc. (SBH) and WATTS WATER TECHNOLOGIES INC (WTS). 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 $625.1M, roughly 1.5× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 4.8%, a 8.6% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (15.7% vs 0.6%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $57.5M). Over the past eight quarters, WATTS WATER TECHNOLOGIES INC's revenue compounded faster (4.6% 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
SBH vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $943.2M | $625.1M |
| Net Profit | $45.6M | $83.7M |
| Gross Margin | 51.2% | 49.5% |
| Operating Margin | 8.1% | 18.2% |
| Net Margin | 4.8% | 13.4% |
| Revenue YoY | 0.6% | 15.7% |
| Net Profit YoY | -25.3% | 24.0% |
| EPS (diluted) | $0.45 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $947.1M | $611.7M | ||
| Q2 25 | $933.3M | $643.7M | ||
| Q1 25 | $883.1M | $558.0M | ||
| Q4 24 | $937.9M | $540.4M | ||
| Q3 24 | $935.0M | $543.6M | ||
| Q2 24 | $942.3M | $597.3M | ||
| Q1 24 | $908.4M | $570.9M |
| Q4 25 | $45.6M | $83.7M | ||
| Q3 25 | $49.9M | $82.2M | ||
| Q2 25 | $45.7M | $100.9M | ||
| Q1 25 | $39.2M | $74.0M | ||
| Q4 24 | $61.0M | $67.5M | ||
| Q3 24 | $48.1M | $69.1M | ||
| Q2 24 | $37.7M | $82.0M | ||
| Q1 24 | $29.2M | $72.6M |
| Q4 25 | 51.2% | 49.5% | ||
| Q3 25 | 52.2% | 48.8% | ||
| Q2 25 | 51.5% | 50.6% | ||
| Q1 25 | 52.0% | 48.8% | ||
| Q4 24 | 50.8% | 46.7% | ||
| Q3 24 | 51.2% | 47.3% | ||
| Q2 24 | 51.0% | 47.7% | ||
| Q1 24 | 51.0% | 46.9% |
| Q4 25 | 8.1% | 18.2% | ||
| Q3 25 | 8.4% | 18.2% | ||
| Q2 25 | 8.4% | 21.0% | ||
| Q1 25 | 7.9% | 15.7% | ||
| Q4 24 | 10.7% | 16.5% | ||
| Q3 24 | 8.8% | 17.1% | ||
| Q2 24 | 7.6% | 18.7% | ||
| Q1 24 | 6.6% | 16.9% |
| Q4 25 | 4.8% | 13.4% | ||
| Q3 25 | 5.3% | 13.4% | ||
| Q2 25 | 4.9% | 15.7% | ||
| Q1 25 | 4.4% | 13.3% | ||
| Q4 24 | 6.5% | 12.5% | ||
| Q3 24 | 5.1% | 12.7% | ||
| Q2 24 | 4.0% | 13.7% | ||
| Q1 24 | 3.2% | 12.7% |
| Q4 25 | $0.45 | $2.50 | ||
| Q3 25 | $0.49 | $2.45 | ||
| Q2 25 | $0.44 | $3.01 | ||
| Q1 25 | $0.38 | $2.21 | ||
| Q4 24 | $0.58 | $2.02 | ||
| Q3 24 | $0.45 | $2.06 | ||
| Q2 24 | $0.36 | $2.44 | ||
| Q1 24 | $0.27 | $2.17 |
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 | $405.5M |
| Total DebtLower is stronger | $842.5M | — |
| Stockholders' EquityBook value | $823.6M | $2.0B |
| Total Assets | $2.9B | $2.9B |
| Debt / EquityLower = less leverage | 1.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.2M | $405.5M | ||
| Q3 25 | $149.2M | $457.7M | ||
| Q2 25 | $112.8M | $369.3M | ||
| Q1 25 | $92.2M | $336.8M | ||
| Q4 24 | $105.5M | $386.9M | ||
| Q3 24 | $108.0M | $303.9M | ||
| Q2 24 | $97.4M | $279.4M | ||
| Q1 24 | $97.2M | $237.1M |
| 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 | $2.0B | ||
| Q2 25 | $762.9M | $1.9B | ||
| Q1 25 | $699.8M | $1.8B | ||
| Q4 24 | $656.5M | $1.7B | ||
| Q3 24 | $628.5M | $1.7B | ||
| Q2 24 | $577.7M | $1.6B | ||
| Q1 24 | $550.9M | $1.6B |
| Q4 25 | $2.9B | $2.9B | ||
| Q3 25 | $2.9B | $2.7B | ||
| Q2 25 | $2.7B | $2.6B | ||
| Q1 25 | $2.7B | $2.5B | ||
| Q4 24 | $2.7B | $2.4B | ||
| Q3 24 | $2.8B | $2.4B | ||
| Q2 24 | $2.7B | $2.4B | ||
| Q1 24 | $2.7B | $2.3B |
| 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 | $154.7M |
| Free Cash FlowOCF − Capex | $57.5M | $140.3M |
| FCF MarginFCF / Revenue | 6.1% | 22.4% |
| Capex IntensityCapex / Revenue | 3.8% | 2.3% |
| Cash ConversionOCF / Net Profit | 2.05× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $216.8M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $93.2M | $154.7M | ||
| Q3 25 | $120.9M | $122.4M | ||
| Q2 25 | $69.4M | $69.7M | ||
| Q1 25 | $51.1M | $55.2M | ||
| Q4 24 | $33.5M | $139.5M | ||
| Q3 24 | $110.7M | $90.7M | ||
| Q2 24 | $47.9M | $85.3M | ||
| Q1 24 | $36.9M | $45.6M |
| Q4 25 | $57.5M | $140.3M | ||
| Q3 25 | $78.0M | $110.9M | ||
| Q2 25 | $49.1M | $59.5M | ||
| Q1 25 | $32.2M | $45.6M | ||
| Q4 24 | $13.4M | $127.5M | ||
| Q3 24 | $73.3M | $84.3M | ||
| Q2 24 | $28.7M | $78.5M | ||
| Q1 24 | $22.8M | $35.5M |
| Q4 25 | 6.1% | 22.4% | ||
| Q3 25 | 8.2% | 18.1% | ||
| Q2 25 | 5.3% | 9.2% | ||
| Q1 25 | 3.6% | 8.2% | ||
| Q4 24 | 1.4% | 23.6% | ||
| Q3 24 | 7.8% | 15.5% | ||
| Q2 24 | 3.1% | 13.1% | ||
| Q1 24 | 2.5% | 6.2% |
| Q4 25 | 3.8% | 2.3% | ||
| Q3 25 | 4.5% | 1.9% | ||
| Q2 25 | 2.2% | 1.6% | ||
| Q1 25 | 2.1% | 1.7% | ||
| Q4 24 | 2.1% | 2.2% | ||
| Q3 24 | 4.0% | 1.2% | ||
| Q2 24 | 2.0% | 1.1% | ||
| Q1 24 | 1.6% | 1.8% |
| Q4 25 | 2.05× | 1.85× | ||
| Q3 25 | 2.42× | 1.49× | ||
| Q2 25 | 1.52× | 0.69× | ||
| Q1 25 | 1.30× | 0.75× | ||
| Q4 24 | 0.55× | 2.07× | ||
| Q3 24 | 2.30× | 1.31× | ||
| Q2 24 | 1.27× | 1.04× | ||
| Q1 24 | 1.26× | 0.63× |
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% |
WTS
Segment breakdown not available.
