olivLaw · US equity research
Regis Corporation RGS
Services-Personal Services · SIC 7200 · Vertical: Services-Personal Services (SIC 7200)
Regis Corporation franchises and operates hair salons, mainly under the Supercuts brand, with a predominantly franchised model. Consolidated revenue reached 224.5 million USD in fiscal 2026, and the company's current challenge is shifting toward a more traffic-driven chain with cheaper debt.
At the close of 04 Nov 2026, Regis Corporation (RGS) stock was 31.77 USD (+9.10% on the day), with market capitalisation 79.4 m USD, P/E 13.2 on diluted EPS of 2.41 USD over the last 12 months, dividend yield 0.00%, beta 0.77, 52-week range 19.47–31.77 USD. Latest reported quarter (Q4 2026): revenue of 56.0 m USD (−7.3% YoY), net income of 4.4 m USD (−96.2% YoY), diluted EPS 1.51 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 71.5
- overbought (≥ 70)
- Bollinger (20, 2)
- 28.24 – 30.64
- above the upper band · %B 1.47 · band width 8.2%
- SMA 50 / 200
- 28.65 / 26.62
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.41 / 0.32
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +8.5% | −2.0% | +10.5 pp | — |
| 3 months | +15.7% | −2.2% | +17.8 pp | — |
| 6 months | +18.3% | +4.3% | +14.1 pp | — |
| Year to date | +14.5% | +10.6% | +3.9 pp | — |
| 1 year | +8.2% | +10.5% | −2.2 pp | −19.1% |
| 3 years | +164.8% | +73.7% | +91.1 pp | −16.0% |
| 5 years | −42.4% | +61.7% | −104.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q4 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 46.1 m | 46.7 m | 57.0 m | 60.4 m | 59.0 m | 57.1 m | 52.4 m | 56.0 m |
| Operating income | 2.1 m | 5.5 m | 5.0 m | 7.3 m | 5.9 m | 6.2 m | 5.7 m | 6.6 m |
| Depreciation & amortisation | 425.0 k | 428.0 k ≈ | 743.0 k ≈ | 1.3 m | 758.0 k | 790.0 k ≈ | 896.0 k ≈ | 1.4 m |
| Interest expense | 4.8 m | 4.8 m | 5.1 m | 5.5 m | 5.3 m | 5.3 m | 5.0 m | 5.1 m |
| Pre-tax income | -2.0 m | 342.0 k | 249.0 k | 3.0 m | 1.9 m | 1.5 m | 893.0 k | 1.6 m |
| Income tax | -225.0 k | 136.0 k | -1.0 k | -115.4 m | 536.0 k | 1.0 m | 158.0 k | -2.8 m |
| Net income | -853.0 k | 7.6 m | 250.0 k | 116.5 m | 1.4 m | 456.0 k | 735.0 k | 4.4 m |
| Diluted EPS | -0.36 | 2.71 | 0.08 | 31.71 ≈ | 0.49 | 0.16 | 0.26 | 1.51 ≈ |
| Operating cash flow | -1.3 m | 2.1 m ≈ | 6.2 m ≈ | 6.8 m | 2.3 m | 1.7 m ≈ | 5.0 m ≈ | 4.2 m |
| Capex | 16.0 k | 428.0 k ≈ | 325.0 k ≈ | 526.0 k | 395.0 k | 772.0 k ≈ | 216.0 k ≈ | 590.0 k |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 69 percentile of its own 13-quarter history (min 0.5, median 0.8, max 6,780.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | ⚠ 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 669.7 m | 411.7 m | 276.0 m | 233.3 m | 203.0 m | 210.1 m | 224.5 m |
| Revenue YoY | −13.5% | −37.4% | — | −33.0% | −15.5% | −13.0% | +3.5% | +6.8% |
| Net income | -14.2 m | -171.4 m | -113.3 m | -85.9 m | -7.4 m | 91.1 m | 123.5 m | 6.9 m |
| Net income YoY | −321.0% | unavailable | — | unavailable | unavailable | unavailable | +35.7% | −94.4% |
| Diluted EPS | -0.34 | -4.77 | -3.15 | -39.40 | -3.18 | 38.34 | 46.10 | 2.41 |
| Diluted EPS YoY | −342.9% | unavailable | — | unavailable | unavailable | unavailable | +20.2% | −94.8% |
| net % | -1.3% | -25.6% | -27.5% | -31.1% | -3.2% | 44.9% | 58.8% | 3.1% |
| Free cash flow | -49.1 m | -123.9 m | -111.4 m | -44.0 m | -8.4 m | -2.4 m | 12.4 m | 11.1 m |
The series breaks before 2021: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 26.0 m USD
- Financial debt
- 117.1 m USD
- Net debt
- 91.1 m USD
- Equity
- 193.8 m USD
- Total assets
- 547.2 m USD
- Debt / equity
- 0.60x
- Current ratio
- 0.62x
- ROE
- 3.7%
- ROA
- 1.2%
- FCF margin
- 5.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 411.7 m | 276.0 m | 233.3 m | 203.0 m | 210.1 m | 224.5 m | SEC (XBRL)· 01 Sept 2026verified |
| Operating income | -94.7 m | -28.9 m | 8.8 m | 20.9 m | 19.9 m | 24.4 m | SEC (XBRL)· 01 Sept 2026verified |
| Depreciation & amortisation | 17.9 m | 6.5 m | 7.2 m | 3.4 m | 2.9 m | 3.9 m | SEC (XBRL)· 01 Sept 2026verified |
| EBITDA | -76.8 m ≈ | -22.4 m ≈ | 16.0 m ≈ | 24.3 m ≈ | 22.8 m ≈ | 28.3 m ≈ | SEC (XBRL)· 01 Sept 2026derived |
| Interest expense | 13.2 m | 12.9 m | 22.1 m | 25.4 m | 20.3 m | 20.7 m | SEC (XBRL)· 01 Sept 2026verified |
| Pre-tax income | -108.6 m | -44.4 m | -12.0 m | 89.9 m | 1.5 m | 5.9 m | SEC (XBRL)· 01 Sept 2026verified |
| Income tax | -5.4 m | 2.0 m | -655.0 k | 869.0 k | -115.5 m | -1.1 m | SEC (XBRL)· 01 Sept 2026verified |
| Net income | -113.3 m | -85.9 m | -7.4 m | 91.1 m | 123.5 m | 6.9 m | SEC (XBRL)· 01 Sept 2026verified |
| Diluted EPS | -3.15 | -39.40 | -3.18 | 38.34 | 46.10 | 2.41 | SEC (XBRL)· 01 Sept 2026verified |
| Weighted average diluted shares | 36.0 m | 2.2 m | 2.3 m | 2.4 m | 2.7 m | 2.9 m | SEC (XBRL)· 01 Sept 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 19.2 m | 17.0 m | 9.5 m | 10.1 m | 17.0 m | 26.0 m | SEC (XBRL)· 01 Sept 2026verified |
| Receivables | 26.3 m | 14.5 m | 10.9 m | 9.4 m | 9.5 m | 9.3 m | SEC (XBRL)· 01 Sept 2026verified |
| Inventories | 20.6 m | 3.1 m | 1.7 m | 818.0 k | 2.8 m | 2.5 m | SEC (XBRL)· 01 Sept 2026verified |
| Current assets | 86.7 m | 48.7 m | 37.2 m | 42.1 m | 50.5 m | 57.4 m | SEC (XBRL)· 01 Sept 2026verified |
| Property, plant & equipment, net | 16.9 m | 12.8 m | 6.4 m | 3.7 m | 10.1 m | 9.3 m | SEC (XBRL)· 01 Sept 2026verified |
| Goodwill | 229.6 m | 174.4 m | 173.8 m | 173.1 m | 183.4 m | 182.7 m | SEC (XBRL)· 01 Sept 2026verified |
| Intangibles (excl. goodwill) | 3.8 m | 3.2 m | 2.8 m | 2.4 m | 5.8 m | 4.7 m | SEC (XBRL)· 01 Sept 2026verified |
| Total assets | 996.4 m | 769.3 m | 607.4 m | 530.5 m | 599.0 m | 547.2 m | SEC (XBRL)· 01 Sept 2026verified |
| Accounts payable | 27.2 m | 15.9 m | 14.3 m | 12.7 m | 20.8 m | 19.6 m | SEC (XBRL)· 01 Sept 2026verified |
| Short-term debt | 0 | — | — | 0 | 1.1 m | 3.0 m | SEC (XBRL)· 01 Sept 2026verified |
| Long-term debt | 186.9 m | 180.0 m | 176.8 m | 99.5 m | 109.7 m | 114.1 m | SEC (XBRL)· 01 Sept 2026verified |
| Current liabilities | 198.5 m | 152.8 m | 126.3 m | 103.5 m | 101.7 m | 91.9 m | SEC (XBRL)· 01 Sept 2026verified |
| Total liabilities | 979.3 m | 800.3 m | 644.1 m | 473.7 m | 413.3 m | 353.4 m | SEC (XBRL)· 01 Sept 2026verified |
| Equity | 17.0 m | -31.0 m | -36.7 m | 56.8 m | 185.6 m † | 193.8 m † | SEC (XBRL)· 01 Sept 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -99.9 m | -38.6 m | -7.9 m | -2.0 m | 13.7 m | 13.1 m | SEC (XBRL)· 01 Sept 2026verified |
| Capex | 11.5 m | 5.3 m | 481.0 k | 376.0 k | 1.3 m | 2.0 m | SEC (XBRL)· 01 Sept 2026verified |
| Free cash flow | -111.4 m ≈ | -44.0 m ≈ | -8.4 m ≈ | -2.4 m ≈ | 12.4 m ≈ | 11.1 m ≈ | SEC (XBRL)· 01 Sept 2026derived |
| Investing cash flow | -2.1 m | 7.7 m | 4.0 m | 1.6 m | -11.5 m | -2.0 m | SEC (XBRL)· 01 Sept 2026verified |
| Financing cash flow | 7.8 m | 29.4 m | -2.1 m | 8.4 m | 3.6 m | -2.3 m | SEC (XBRL)· 01 Sept 2026verified |
| Share repurchases | 0 | — | — | — | — | — | SEC (XBRL)· 26 Aug 2021verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 48 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 79.4 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet11
- Growth0
- Valuation73
- Quality65
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 24.55 – 343.11 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)152.43 – 343.11 (Mid 214.32)WACC 6.8% · starting FCFF 28.5 m USD · terminal value share of EV 81%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/EBITDA41.17 – 205.25 (Mid 63.26)3 companies used · median multiple 8.8x · quartiles 6.9x – 21.3xCSV, DLPN, WW
- Peers: P/E24.55 – 73.32 (Mid 30.97)7 companies used · median multiple 12.8x · quartiles 10.2x – 30.4xCSV, EVI, HRB, SCI, UNF, WW, YELP
- Dividend discount (DDM)unavailable · the base of the ratio is not positive
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 48/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 7.3% | 60 (vs peers) | 13% |
| Net margin · Quality | 3.1% | 40 (vs peers) | 8% |
| FCF conversion · Quality | 160.3% | 100 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | -1.3% | 0 (on a fixed band) | 10% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 3.2x | 22 (on a fixed band) | 13% |
| Interest coverage · Balance sheet | 1.2x | 0 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 13.2x | 43 (vs peers) | 13% |
| EV/EBITDA · Valuation | 6.0x | 82 (on a fixed band) | 13% |
| FCF yield · Valuation | 14.0% | 100 (on a fixed band) | 10% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet11/100 · 3/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality65/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation73/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Regis Corporation (RGS). Latest full fiscal year: 2026; data up to 2026-06-30.
Figures computed from the financial statements: revenue 224.5 m USD in 2026; YoY growth 6.8%; net margin 3.1%; ROE 3.7%; net debt/EBITDA 3.2x.
The estimated value range is 41.17–205.25 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 63.26 USD, the price of 31.77 USD leaves a potential of 99.1% (value / price − 1) and a margin of safety of 49.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 48/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 160.3%
- EV/EBITDA: 6.0x
- FCF yield: 14.0%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: -1.3%
- Net debt / EBITDA: 3.2x
- Interest coverage: 1.2x
- Current ratio: 0.6x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Personal Services (SIC 7200) · same industry (4-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SCIService Corporation International | 10.5 bn | 19.2 | 35.7% | 12.7% | +2.9% | −3% / +26% |
| HRBH&R Block Inc | 6.8 bn | 9.8 | 710.9% | 18.6% | +4.9% | +32% / +22% |
| YELPYelp Inc | 1.2 bn | 10.6 | 18.2% | 8.6% | +3.7% | −24% / −50% |
| CSVCarriage Services, Inc. | 571.4 m | 12.8 | 17.3% | 10.7% | +3.3% | −17% / +59% |
| EVIEVI Industries, Inc. | 282.3 m | 45.3 | 5.3% | 1.7% | +14.6% | +6% / −16% |
| WWWw International, Inc. | 121.3 m | 0.1 | 332.6% | 148.1% | −11.6% | −57% / unavailable |
| RGSRegis Corporation | 79.4 m | 13.2 | 3.7% | 3.1% | +6.8% | +8% / +165% |
| DLPNDolphin Entertainment, Inc. | 12.2 m | — | -51.6% | -6.3% | +9.7% | −42% / −70% |
| XWELXWELL, Inc. | 5.1 m | — | — | -82.9% | −13.8% | −21% / −75% |
| MRMMedirom Healthcare Technologies Inc. | — | — | 26.0% | 1.8% | +21.5% | −85% / −94% |
| UNFUnifirst Corporation | — | 41.7 | 5.0% | 4.3% | +3.7% | +45% / +45% |
1- and 3-year price returns: for RGS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 20.39 Total return -36% · Per year -36% | 36.16 Total return 14% · Per year 14% | 54.61 Total return 72% · Per year 72% |
| 3 years | 17.56 Total return -45% · Per year -18% | 35.24 Total return 11% · Per year 4% | 58.75 Total return 85% · Per year 23% |
| 5 years | 15.12 Total return -52% · Per year -14% | 34.34 Total return 8% · Per year 2% | 63.21 Total return 99% · Per year 15% |
- Exit P/E± 8.81
- Net margin± 6.17
- Annual revenue growth± 5.36
- Annual dilution± 0.52
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Regis Corporation franchises and operates hair salons, mainly under the Supercuts brand, with a predominantly franchised model. Consolidated revenue reached 224.5 million USD in fiscal 2026, and the company's current challenge is shifting toward a more traffic-driven chain with cheaper debt 12.
SWOT
Strengths
- The large salon network and recognized Supercuts and SmartStyle brands support a franchise model with recurring revenue 1.
- Higher consolidated revenue and positive operating cash flow in fiscal 2026 indicate steady cost management 2.
- Operating experience gained from the Alline salons provides a testing ground for initiatives that could later be extended across the network 1.
Weaknesses
- Debt remains a significant burden, and its high cost is an explicit concern for management, which is evaluating refinancing 12.
- A shrinking franchised salon count has cut royalties and fees, and franchise revenue has declined steadily 2.
- Net profit was low in fiscal 2026, and the prior year result was inflated by an exceptional tax benefit 2.
Opportunities
- Higher traffic and guest retention through mobile apps and loyalty programs could support a sales recovery 2.
- Refinancing the debt on better terms could reduce financing costs and free up cash flow 2.
- Rolling out initiatives tested in company-owned salons across the franchise network could add growth without large capital outlays.
Threats
- Changing shopping habits and competition from alternative channels may reduce traffic in the shopping centers where salons are located 1.
- Rising labor costs and new regulation could reduce franchisee profitability and lead to salon closures 1.
- Dependence on a third-party merchandise supplier and on franchisee success could directly affect revenue if either weakens 1.
Risks
- High indebtednesshigh
Term loan debt and capitalized interest put pressure on cash flow, and refinancing is still under discussion 12.
- Integration of Allinemedium
Integrating the Alline salons brings risks of unknown liabilities and unforeseen costs that could affect results 1.
- Employment regulationmedium
Changes to minimum wage, unionization rules and possible joint-employer treatment could raise costs and legal complexity 1.
- Franchisee stabilityhigh
Salon closures and unpaid rent by franchisees reduce royalties and can create financial obligations for the company 1.
- Supplier dependencelow
The preferred supplier agreement for merchandise exposes the network to pricing, quality and transport problems 1.
Investment thesis
What would need to be true (bull case)
- If traffic and comparable sales keep growing, the large network and recognized brands could support a return to profitability.
- Refinancing the debt on better terms could free up cash flow and meaningfully improve net profit.
- Testing initiatives in company-owned salons and then extending them to franchisees could drive growth without heavy capital spending.
What would break the thesis
- Continued decline in franchised salons shrinks the royalty base, and franchise revenue remains under pressure.
- Significant debt and costly financing limit flexibility and could slow investment.
- Rising labor costs and regulation could reduce franchisee profitability and lead to more closures.
What to watch
- Outcome of the debt refinancing negotiationsnext 10-K
- Trend in same-store sales at Supercuts and company-owned salonsQ1 2027
- Net number of franchised salons closed or opened2027
- Adjusted EBITDA margin of the franchise segmentnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Regis Corporation franchises and owns hair salons, listed on Nasdaq under RGS. As of June 30, 2026 the network counted 3,712 locations, of which 3,448 were franchised and 264 company-owned, mostly in North America 1. Revenue comes from royalties, fees, advertising fund contributions and franchise rental income, plus services at company-owned salons. The model remains largely franchisor-led, with limited day-to-day control over franchisees but strict brand standards 1.
The Alline Salon Group acquisition, completed in December 2024, brought 314 salons, of which 261 were still operating on June 30, 2026. Management presents them as a testing ground for operational and loyalty initiatives that could later be scaled across the franchise network 1. The company says it wants to remain an asset-light model, while acknowledging that directly operating salons adds costs and risks 1.
Financially, fiscal 2026 brought consolidated revenue of 224.5 million USD and operating income of 24.4 million USD, with Adjusted EBITDA of 32.8 million USD 2. Franchise segment revenue fell to 146.2 million USD while the company-owned segment grew on the Alline consolidation 2. System-wide revenue was 1,066.3 million USD 1.
Segments
Franchise
The franchise segment includes royalties, fees, advertising fund contributions and rental income, which declined in fiscal 2026 as the salon count fell. Segment revenue reached 146.2 million USD and Adjusted EBITDA 25.2 million USD 2. The decline mainly reflects 207 franchised salons closed during the year 1.
Market context
The hair salon market is highly fragmented, with many operators, most of them independent, and low barriers to entry at the individual salon level 1. However, expanding a chain nationally requires good sites, franchisee recruitment, stylist retention and robust systems 1. Regis operates mainly in the value category, where average service transactions range from 27 to 39 USD 1.
Demand depends on customer traffic in shopping centers and retail locations where many salons sit, and that traffic faces pressure from alternative channels such as blow dry bars and online shopping 1. System-wide same-store sales grew only 0.9% in fiscal 2026 1.
Trends
- Shifting shopping habitsheadwind
Customers are moving toward online shopping and alternative locations, which reduces traffic in the shopping centers where salons are located 1. If this continues, rental and royalty income could remain under pressure.
- Supercuts same-store sales growthtailwind
Supercuts posted 3.0% same-store sales growth in fiscal 2026, suggesting the value model can attract guests when execution is strong 2.
- Labor costs and wage regulationheadwind
Minimum wage increases and new rules on leave and shift scheduling raise salon costs, and the ability to pass them on through prices is limited 1. The effect on franchisees could reduce profitability and the number of locations.
- Piloting initiatives in company-owned salonsmixed
Company-owned salons serve as a laboratory for loyalty, marketing and technology, and results could be extended to the franchise network if proven effective 1. Success could support traffic recovery, but remains uncertain.
Competitive position
Regis competes with salon chains such as Great Clips, Fantastic Sams, Sport Clips and Ulta Beauty, as well as independent salons, in-home hair services, booth rentals and blow dry bars 1. The company also competes with other franchise organizations for new franchisees 1.
Key competitive factors are the ability to attract and train quality stylists, consistent guest experiences, technology tools, and winning on convenience and price value 1. Regis seeks to differentiate through multiple brands and stylist training programs 1.
- Great Clips
Salon chain named as a direct competitor in quick-service haircuts, with no confirmed US ticker in the source.
- Fantastic Sams
Franchised salon chain competing for the same guests and franchisees, with no confirmed ticker in the source.
- Sport Clips
Salon chain focused on men's grooming, named as a rival in the regulatory filing.
- Ulta Beauty
Beauty products and services retailer competing for hair care spending by consumers.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Regis (RGS) Reports $24.4M of Operating Income as Franchise Revenue Falls 12%. Can Company-Owned Salons Offset a Shrinking Franchise Base?Yahoo Finance — News · 09 Sept 2026 · EN
- Regis Corporation Q4 2026 Earnings Call SummaryYahoo Finance — News · 01 Sept 2026 · EN
The latest news item in our archive is from 09 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report03 Nov 2026Departure or appointment of officers · Shareholder vote
- Proxy statement17 Sept 2026
- Annual report01 Sept 2026
- Current report01 Sept 2026Results of operations
- Quarterly report13 May 2026
- Current report13 May 2026Results of operations
- Current report15 Apr 2026Departure or appointment of officers
- Current report (amendment)18 Mar 2026Financial statements and exhibits
- Current report16 Mar 2026Departure or appointment of officers
- Quarterly report05 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / Regis Corporation · 01 Sept 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Regis Corporation · 01 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.