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Side-by-side financial comparison of Sally Beauty Holdings, Inc. (SBH) and ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION). 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 $891.0M, roughly 1.1× ZIONS BANCORPORATION, NATIONAL ASSOCIATION). ZIONS BANCORPORATION, NATIONAL ASSOCIATION runs the higher net margin — 29.5% vs 4.8%, a 24.7% gap on every dollar of revenue. On growth, ZIONS BANCORPORATION, NATIONAL ASSOCIATION posted the faster year-over-year revenue change (8.7% vs 0.6%). ZIONS BANCORPORATION, NATIONAL ASSOCIATION produced more free cash flow last quarter ($952.0M vs $57.5M). Over the past eight quarters, ZIONS BANCORPORATION, NATIONAL ASSOCIATION's revenue compounded faster (9.6% 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.
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
SBH vs ZION — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $943.2M | $891.0M |
| Net Profit | $45.6M | $263.0M |
| Gross Margin | 51.2% | — |
| Operating Margin | 8.1% | — |
| Net Margin | 4.8% | 29.5% |
| Revenue YoY | 0.6% | 8.7% |
| Net Profit YoY | -25.3% | 21.8% |
| EPS (diluted) | $0.45 | $1.77 |
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 | $891.0M | ||
| Q3 25 | $947.1M | $861.0M | ||
| Q2 25 | $933.3M | $838.0M | ||
| Q1 25 | $883.1M | $795.0M | ||
| Q4 24 | $937.9M | $820.0M | ||
| Q3 24 | $935.0M | $792.0M | ||
| Q2 24 | $942.3M | $777.0M | ||
| Q1 24 | $908.4M | $742.0M |
| Q4 25 | $45.6M | $263.0M | ||
| Q3 25 | $49.9M | $222.0M | ||
| Q2 25 | $45.7M | $244.0M | ||
| Q1 25 | $39.2M | $170.0M | ||
| Q4 24 | $61.0M | $216.0M | ||
| Q3 24 | $48.1M | $214.0M | ||
| Q2 24 | $37.7M | $201.0M | ||
| Q1 24 | $29.2M | $153.0M |
| 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% | 29.5% | ||
| Q3 25 | 5.3% | 25.8% | ||
| Q2 25 | 4.9% | 29.1% | ||
| Q1 25 | 4.4% | 21.4% | ||
| Q4 24 | 6.5% | 26.3% | ||
| Q3 24 | 5.1% | 27.0% | ||
| Q2 24 | 4.0% | 25.9% | ||
| Q1 24 | 3.2% | 20.6% |
| Q4 25 | $0.45 | $1.77 | ||
| Q3 25 | $0.49 | $1.48 | ||
| Q2 25 | $0.44 | $1.63 | ||
| Q1 25 | $0.38 | $1.13 | ||
| Q4 24 | $0.58 | $1.34 | ||
| Q3 24 | $0.45 | $1.37 | ||
| Q2 24 | $0.36 | $1.28 | ||
| Q1 24 | $0.27 | $0.96 |
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 | — |
| Total DebtLower is stronger | $842.5M | $1.5B |
| Stockholders' EquityBook value | $823.6M | $7.2B |
| Total Assets | $2.9B | $89.0B |
| Debt / EquityLower = less leverage | 1.02× | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $157.2M | — | ||
| Q3 25 | $149.2M | — | ||
| Q2 25 | $112.8M | — | ||
| Q1 25 | $92.2M | — | ||
| Q4 24 | $105.5M | — | ||
| Q3 24 | $108.0M | — | ||
| Q2 24 | $97.4M | — | ||
| Q1 24 | $97.2M | — |
| Q4 25 | $842.5M | $1.5B | ||
| Q3 25 | $862.0M | $1.5B | ||
| Q2 25 | $882.4M | $970.0M | ||
| Q1 25 | $902.8M | $964.0M | ||
| Q4 24 | $938.1M | $950.0M | ||
| Q3 24 | $978.3M | $548.0M | ||
| Q2 24 | $978.9M | $546.0M | ||
| Q1 24 | $978.4M | $544.0M |
| Q4 25 | $823.6M | $7.2B | ||
| Q3 25 | $794.2M | $6.9B | ||
| Q2 25 | $762.9M | $6.6B | ||
| Q1 25 | $699.8M | $6.3B | ||
| Q4 24 | $656.5M | $6.1B | ||
| Q3 24 | $628.5M | $6.4B | ||
| Q2 24 | $577.7M | $6.0B | ||
| Q1 24 | $550.9M | $5.8B |
| Q4 25 | $2.9B | $89.0B | ||
| Q3 25 | $2.9B | $88.5B | ||
| Q2 25 | $2.7B | $88.9B | ||
| Q1 25 | $2.7B | $88.0B | ||
| Q4 24 | $2.7B | $88.8B | ||
| Q3 24 | $2.8B | $87.0B | ||
| Q2 24 | $2.7B | $87.6B | ||
| Q1 24 | $2.7B | $87.1B |
| Q4 25 | 1.02× | 0.21× | ||
| Q3 25 | 1.09× | 0.21× | ||
| Q2 25 | 1.16× | 0.15× | ||
| Q1 25 | 1.29× | 0.15× | ||
| Q4 24 | 1.43× | 0.16× | ||
| Q3 24 | 1.56× | 0.09× | ||
| Q2 24 | 1.69× | 0.09× | ||
| Q1 24 | 1.78× | 0.09× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $57.5M | $952.0M |
| FCF MarginFCF / Revenue | 6.1% | 106.8% |
| Capex IntensityCapex / Revenue | 3.8% | 13.6% |
| Cash ConversionOCF / Net Profit | 2.05× | 4.08× |
| TTM Free Cash FlowTrailing 4 quarters | $216.8M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $93.2M | $1.1B | ||
| Q3 25 | $120.9M | $438.0M | ||
| Q2 25 | $69.4M | $-62.0M | ||
| Q1 25 | $51.1M | $179.0M | ||
| Q4 24 | $33.5M | $1.1B | ||
| Q3 24 | $110.7M | $119.0M | ||
| Q2 24 | $47.9M | $251.0M | ||
| Q1 24 | $36.9M | $261.0M |
| Q4 25 | $57.5M | $952.0M | ||
| Q3 25 | $78.0M | $413.0M | ||
| Q2 25 | $49.1M | $-93.0M | ||
| Q1 25 | $32.2M | $152.0M | ||
| Q4 24 | $13.4M | $1.1B | ||
| Q3 24 | $73.3M | $97.0M | ||
| Q2 24 | $28.7M | $234.0M | ||
| Q1 24 | $22.8M | $231.0M |
| Q4 25 | 6.1% | 106.8% | ||
| Q3 25 | 8.2% | 48.0% | ||
| Q2 25 | 5.3% | -11.1% | ||
| Q1 25 | 3.6% | 19.1% | ||
| Q4 24 | 1.4% | 128.2% | ||
| Q3 24 | 7.8% | 12.2% | ||
| Q2 24 | 3.1% | 30.1% | ||
| Q1 24 | 2.5% | 31.1% |
| Q4 25 | 3.8% | 13.6% | ||
| Q3 25 | 4.5% | 2.9% | ||
| Q2 25 | 2.2% | 3.7% | ||
| Q1 25 | 2.1% | 3.4% | ||
| Q4 24 | 2.1% | 11.8% | ||
| Q3 24 | 4.0% | 2.8% | ||
| Q2 24 | 2.0% | 2.2% | ||
| Q1 24 | 1.6% | 4.0% |
| Q4 25 | 2.05× | 4.08× | ||
| Q3 25 | 2.42× | 1.97× | ||
| Q2 25 | 1.52× | -0.25× | ||
| Q1 25 | 1.30× | 1.05× | ||
| Q4 24 | 0.55× | 5.31× | ||
| Q3 24 | 2.30× | 0.56× | ||
| Q2 24 | 1.27× | 1.25× | ||
| Q1 24 | 1.26× | 1.71× |
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% |
ZION
Segment breakdown not available.
