SBH // Sally Beauty Holdings Inc. (Name to be changed from Sally Holdings Inc.)
DES <GO> NYSE RQD COCKPIT → CIK 0001368458 ↗Sally Beauty Holdings Inc. (Name to be changed from Sally Holdings Inc.) (SBH) exhibits 51.6% gross margins and 38.9% return on invested capital within Consumer Discretionary (Other Specialty Stores), balanced against a 3.7x enterprise multiple and 4.8% implied options volatility.
Sustained 51.6% gross profitability converts into 8.9% operating margin and 38.9% ROIC, outpacing sector cost of capital.
ROIC: 38.9% // GM: 51.6%YoY revenue trajectory of -0.4% paired with 10.12% free cash flow yield supports self-funded R&D and capital return.
REV YOY: -0.4% // FCF YLD: 10.12%Altman Z-Score of 2.95 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.
ALTMAN Z: 2.95 // F-SCORE: 7/9Trading at 8.7x trailing P/E (8.1x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 8.7x // EV/EBITDA: 3.7xOptions market prices a ±5.2% implied move with a 0.85 put/call ratio around $18.23 max pain.
IMPL MOVE: ±5.2% // P/C: 0.85Elevated industry capital intensity and customer concentration in Other Specialty Stores require continuous execution to defend 5.3% net margins.
NET MARGIN: 5.3% // D/E: 0.45x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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