SBC Medical Group Holdings Incorporated
- Open
- 3.14
- Day high
- 3.19
- Day low
- 3.12
- Prev close
- 3.08
- Volume
- 18K
- Mkt cap
- $328M
- P/E (TTM)
- 8.1
- EPS (TTM)
- $0.39
- P/B
- 1.3
- P/S
- 1.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$10.8M over the last 3 months (0 open-market buys, 2 sales)
SBC Medical Group Holdings Incorporated (SBC) is a Industrials company listed on NASDAQ. The stock is down 34% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
SBC Medical Group Holdings Incorporated (SBC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SBC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $0.10 | $0.11 | +10.0% | $43M | +3.4% |
| Mar 27, 2026 | $0.13 | $0.14 | +7.7% | $40M | -12.9% |
| Nov 14, 2025 | $0.13 | $0.12 | -7.7% | $43M | -4.1% |
| Aug 13, 2025 | $0.14 | $0.02 | -85.7% | $43M | -5.0% |
| May 15, 2025 | $0.11 | $0.21 | +90.9% | $47M | +5.9% |
| Mar 28, 2025 | $0.17 | $0.18 | +5.9% | $44M | -21.9% |
| Jun 30, 2024 | — | $0.20 | — | $53M | — |
| Mar 31, 2024 | — | $2.36 | — | $55M | — |
| Dec 31, 2023 | — | $0.10 | — | $194M | — |
| Sep 30, 2023 | — | $0.08 | — | $47M | — |
| Jun 30, 2023 | — | $1.34 | — | $41M | — |
SBC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 29, 2026 | Aikawa Yoshiyukidirector, 10 percent owner, officer: Chairman and CEO | Sell | 465,000 | $3.02 |
| Apr 23, 2026 | Aikawa Yoshiyukidirector, 10 percent owner, officer: Chairman and CEO | Sell | 3,100,000 | $3.02 |
| Mar 10, 2026 | Aikawa Yoshiyukidirector, 10 percent owner, officer: Chairman and CEO | Sell | 4,422,900 | $2.12 |
| Sep 19, 2024 | ZUU Co. Ltd.10 percent owner | Sell | 6,196 | $7.34 |
| Dec 2, 2005 | JENNINGS KAREN Eofficer: Sr.Exec. VP-HR and Comm. | Grant | 743 | $24.91 |
| Dec 2, 2005 | WILKINS RAYFORD JRofficer: Group President | Grant | 670 | $24.91 |
| Dec 2, 2005 | MCCOY JOHN Bdirector | Grant | 217 | $24.91 |
| Dec 2, 2005 | WHITACRE EDWARD E JRdirector, officer: Chairman and CEO | Grant | 759 | $24.91 |
| Dec 2, 2005 | STEPHENSON RANDALL Ldirector, officer: Chief Operating Officer | Grant | 1,079 | $24.91 |
| Dec 2, 2005 | LINDNER RICHARD Gofficer: Sr. Exec. VP and CFO | Grant | 660 | $24.91 |
| Dec 2, 2005 | KAHAN JAMES Sofficer: Sr. Exec. VP-Corp. Dev. | Grant | 704 | $24.91 |
| Dec 2, 2005 | REMBE TONIdirector | Grant | 80 | $24.91 |
| Dec 2, 2005 | BUSCH AUGUST A IIIdirector | Grant | 217 | $24.91 |
| Dec 2, 2005 | CALLAWAY JAMES Wofficer: Group President | Grant | 302 | $24.91 |
| Dec 2, 2005 | MILLER FORREST Eofficer: Grp.Pres.Ext.Aff. & Plng. | Grant | 244 | $24.91 |
Source: SBC SEC Form 4 filings, latest Apr 29, 2026. For informational purposes only — not investment advice.
See the full SBC insider & 13F page →SBC Medical Group Holdings Incorporated company profile
Overview
SBC Medical Group Holdings Incorporated (NASDAQ:SBC) is a California-based management services company founded in 2000 that provides comprehensive operational support to cosmetic treatment centers across Japan, Vietnam, the United States, and other international markets. The company went public in September 2022 and has established itself as a specialized provider of franchise management services in the aesthetic medicine industry, offering everything from marketing and staff training to equipment procurement and facility design for cosmetic surgery and non-invasive beauty treatment clinics.
Business
SBC Medical Group operates in the aesthetic medicine management services industry, functioning as a comprehensive business services provider for cosmetic treatment centers and clinics. The company does not directly perform medical procedures but instead provides the operational backbone that enables cosmetic treatment franchises to function effectively. The company's core offering centers around franchise management services for aesthetic medicine clinics. These services encompass several key areas: advertising and marketing support to help clinics attract customers, comprehensive staff management including recruitment and training of medical and administrative personnel, customer booking and reservation systems, assistance with employee housing and facility rentals, and complete clinic setup including construction, design, and medical equipment procurement. SBC's service portfolio covers a wide range of cosmetic procedures that their franchisee clinics offer, including surgical treatments like breast augmentation, liposuction, rhinoplasty, and various facial surgeries, as well as non-invasive procedures such as laser treatments for skin rejuvenation, hair removal, tattoo removal, and anti-aging treatments. The company also supports clinics offering specialized services like hair transplants, dental cosmetic procedures, LASIK eye surgery, and treatments for conditions like hyperhidrosis and androgenetic alopecia. The business model is built around providing turnkey solutions for entrepreneurs wanting to operate cosmetic treatment centers without having to develop the operational expertise themselves. SBC handles the complex logistics of running these specialized medical facilities, from sourcing medical consumables and equipment to implementing IT software solutions that manage clinic operations. This allows franchisees to focus on patient care and business development while SBC manages the operational complexities.
Revenue model
SBC Medical Group generates revenue primarily through franchise management fees and service charges paid by the cosmetic treatment centers it supports. The company operates on a business-to-business model where cosmetic clinic operators are the paying customers who rely on SBC's comprehensive suite of management services. The revenue streams include ongoing management fees for advertising and marketing services, staff recruitment and training programs, booking system management, and facility management support. Additionally, SBC generates income through the sale and procurement of medical equipment and consumables, acting as a specialized distributor for the aesthetic medicine industry. The company also earns revenue from construction and design services when setting up new franchise locations, as well as from its proprietary IT software solutions that manage clinic operations. Several factors influence SBC's profitability margins. Positive margin drivers include the company's ability to leverage economies of scale across multiple franchise locations, reducing per-unit costs for services like marketing campaigns and staff training programs. The specialized nature of aesthetic medicine creates barriers to entry and allows for premium pricing on specialized services. Geographic expansion, particularly in growing markets like Vietnam and other Asian countries where cosmetic procedures are becoming more popular, provides opportunities for margin expansion. Margin pressures come from increased competition in the aesthetic medicine support services sector, regulatory changes in different countries that may require additional compliance costs, and the cyclical nature of cosmetic procedures which can be sensitive to economic downturns. Currency fluctuations also impact margins given the company's international operations, and the need for continuous technology upgrades and staff training in a rapidly evolving medical field creates ongoing cost pressures.
Competitive moat
SBC Medical Group's competitive moat appears moderately strong but not insurmountable. The company has built several defensive characteristics around its specialized expertise in aesthetic medicine management, but faces potential vulnerabilities from larger competitors and changing industry dynamics. The company's primary moat stems from its specialized domain expertise in the aesthetic medicine industry. Managing cosmetic treatment centers requires understanding complex regulatory requirements across multiple countries, specialized medical equipment procurement, and unique marketing approaches for elective medical procedures. SBC has developed this expertise over more than two decades, creating institutional knowledge that would be difficult for new entrants to replicate quickly. Network effects provide additional protection, as SBC's relationships with medical equipment suppliers, regulatory bodies, and trained staff create a comprehensive ecosystem that benefits from scale. The company's established presence in key markets like Japan and Vietnam, where cultural factors and regulatory environments create additional barriers to entry, strengthens its competitive position. However, the moat faces several potential threats. Large healthcare management companies or private equity firms with significant capital could potentially enter this space and compete on scale and resources. Technology disruption poses another risk, as digital platforms and AI-driven solutions could potentially automate many of the services SBC currently provides manually. Additionally, individual cosmetic clinic operators might choose to internalize these services as they grow larger, reducing dependence on external management providers. The company's international expansion strategy helps broaden the moat, but also exposes it to regulatory and competitive risks in new markets where local players may have advantages in understanding cultural preferences and regulatory requirements.
Risks & safety
SBC Medical Group demonstrates a strong financial safety profile with substantial cash reserves and minimal debt, though recent operational cash flow trends warrant attention. • Liquidity and Solvency: The company maintains excellent liquidity with $125 million in cash and short-term investments against only $61 million in current liabilities, providing a current ratio of 3.0. Total debt is minimal at just 6.3% of equity, indicating very low solvency risk. • Cash Flow Concerns: Despite strong profitability, operational cash flow turned negative at -$7.3 million in Q4 2024, and free cash flow was -$7.9 million, representing a significant deterioration from the positive $20.6 million operational cash flow for the full year 2024. • Valuation Metrics: Trading at reasonable multiples with P/E ratio of 11.5x based on 2024 earnings and EV/EBITDA of 5.5x. The stock has declined significantly from higher levels, suggesting potential value at current prices. • Profitability Trends: Net income margin of 22.7% for 2024 demonstrates strong profitability, though quarterly results show increasing volatility with Q4 2024 margins declining to 14.7%. • Other Considerations: The company's international exposure creates currency risk, and the aesthetic medicine industry's sensitivity to economic cycles could impact future performance during downturns.
Recent development
Based on the available financial data, SBC Medical Group has focused on international expansion and operational scaling over the past few years. The company has maintained consistent revenue growth, with annual revenues increasing from $174 million in 2022 to $205 million in 2024, demonstrating successful expansion of its franchise management services. The most significant development has been the company's profitability improvement trajectory. After generating only $5.5 million in net income in 2022, the company dramatically improved to $39.4 million in 2023 and further to $46.6 million in 2024. This represents a substantial margin expansion from 3.2% in 2022 to 22.7% in 2024, indicating successful operational leverage and efficiency improvements. Geographic expansion appears to be a key strategic focus, with the company operating across Japan, Vietnam, the United States, and other international markets. The strong cash position of over $125 million suggests the company is well-positioned to fund further expansion into new markets or acquire complementary businesses. However, recent quarterly results show some operational challenges, with Q4 2024 showing negative operational cash flow despite continued profitability. This suggests potential working capital management issues or timing differences in cash collection that the company will need to address. The quarterly revenue volatility, ranging from $44 million to $54 million across 2024 quarters, indicates some seasonality or market fluctuations in the aesthetic medicine industry that SBC serves.
SBC company profile · for informational purposes only — not investment advice.
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