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Bath & Body Works vs Sally Beauty: revenue, profit, margins and growth compared

Bath & Body Works brought in $7.3B of revenue in fiscal 2025, Sally Beauty $3.7B in fiscal 2025. Revenue changed by -0.2% at Bath & Body Works and -0.4% at Sally Beauty on the year before, so Bath & Body Works grew faster. Bath & Body Works kept 8.9% of its revenue as net profit, Sally Beauty 5.3%. Free cash flow was $865M at Bath & Body Works and $172.7M at Sally Beauty.

Side by side, latest fiscal year

BBWISBH
Fiscal year endedFY2025 (January 31, 2026)FY2025 (September 30, 2025)
Revenue$7.3B$3.7B
Revenue growth-0.2%-0.4%
Net income$649M$195.9M
Net margin8.9%5.3%
Free cash flow$865M$172.7M
Free cash flow margin11.9%4.7%
Earnings per share (diluted)$3.11$1.89
Cash$953M$149.2M
Debt$3.9B$875M
Price to earnings5.39.1
Market value$3.3B$1.6B
Dividend yield4.86%n/a
Rank by revenue in sector#150 of 778 · Consumer discretionary#257 of 778 · Consumer discretionary

Over the years

Revenue
BBWI FY2018: $13.2BBBWI FY2020: $5.4BBBWI FY2020: $6.4BBBWI FY2021: $7.9BBBWI FY2022: $7.6BBBWI FY2023: $7.4BBBWI FY2024: $7.3BBBWI FY2025: $7.3BSBH FY2018: $3.9BSBH FY2019: $3.9BSBH FY2020: $3.5BSBH FY2021: $3.9BSBH FY2022: $3.8BSBH FY2023: $3.7BSBH FY2024: $3.7BSBH FY2025: $3.7BFY18FY19FY20FY21FY22FY23FY24FY25
BBWI $7.3BSBH $3.7B
Net income
BBWI FY2018: $644MBBWI FY2020: -$366MBBWI FY2020: $844MBBWI FY2021: $1.3BBBWI FY2022: $800MBBWI FY2023: $878MBBWI FY2024: $798MBBWI FY2025: $649MSBH FY2018: $258MSBH FY2019: $271.6MSBH FY2020: $184.6MSBH FY2021: $239.9MSBH FY2022: $183.6MSBH FY2023: $184.6MSBH FY2024: $153.4MSBH FY2025: $195.9MFY18FY19FY20FY21FY22FY23FY24FY25
BBWI $649MSBH $195.9M
Net margin
BBWI FY2018: 4.9%BBWI FY2020: -6.8%BBWI FY2020: 13.1%BBWI FY2021: 16.9%BBWI FY2022: 10.6%BBWI FY2023: 11.8%BBWI FY2024: 10.9%BBWI FY2025: 8.9%SBH FY2018: 6.6%SBH FY2019: 7.0%SBH FY2020: 5.3%SBH FY2021: 6.2%SBH FY2022: 4.8%SBH FY2023: 5.0%SBH FY2024: 4.1%SBH FY2025: 5.3%FY18FY19FY20FY21FY22FY23FY24FY25
BBWI 8.9%SBH 5.3%
Revenue growth
BBWI FY2020: -59.2%BBWI FY2020: +19.0%BBWI FY2021: +22.5%BBWI FY2022: -4.1%BBWI FY2023: -1.7%BBWI FY2024: -1.6%BBWI FY2025: -0.2%SBH FY2019: -1.4%SBH FY2020: -9.3%SBH FY2021: +10.3%SBH FY2022: -1.5%SBH FY2023: -2.3%SBH FY2024: -0.3%SBH FY2025: -0.4%FY19FY20FY21FY22FY23FY24FY25
BBWI -0.2%SBH -0.4%
Free cash flow
BBWI FY2018: $748MBBWI FY2020: $778MBBWI FY2020: $1.8BBBWI FY2021: $1.2BBBWI FY2022: $816MBBWI FY2023: $656MBBWI FY2024: $660MBBWI FY2025: $865MSBH FY2018: $286.2MSBH FY2019: $212.7MSBH FY2020: $316MSBH FY2021: $308MSBH FY2022: $57.3MSBH FY2023: $158.6MSBH FY2024: $145.4MSBH FY2025: $172.7MFY18FY19FY20FY21FY22FY23FY24FY25
BBWI $865MSBH $172.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Bath & Body Works and Sally Beauty

Which is bigger by revenue, Bath & Body Works or Sally Beauty?

Bath & Body Works is bigger by revenue: $7.3B in fiscal 2025, against $3.7B for Sally Beauty in fiscal 2025.

Which keeps more of its revenue as profit, Bath & Body Works or Sally Beauty?

Bath & Body Works had a net margin of 8.9% in fiscal 2025; Sally Beauty had 5.3% in fiscal 2025.

Which grew revenue faster, Bath & Body Works or Sally Beauty?

In their latest fiscal years revenue changed by -0.2% at Bath & Body Works and -0.4% at Sally Beauty.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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