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SBC Medical Group Holdings Incorporated, together with its subsidiaries, provides management services to cosmetic treatment centers in Japan, Vietnam, the United States, and Singapore. The company offers advertising and marketing services across social media networks; staff management services, such as recruitment and training; booking reservations for franchisee clinic customers; assistance with franchisee employee housing rentals; leasehold improvement services; and design services for clinics, medical equipment, and medical consumables procurement. It also provides loyalty program management, labor and function supporting, and management consulting services; and IT software solutions, as well as engages in franchising activities; and distributes medical equipment and devices, implants, injection materials, other medical consumables, skin care and beauty products, and cosmetic products to franchisee clinics for resale to clinic customers. In addition, the company offers surgical and non-surgical surgeries that include breast augmentation; liposuction; rejuvenation treatments, such as treatment of wrinkles, acne, scars, cellulite, excess fat, discoloration, and signs of aging; laser skin toning and spot removal; eyes double fold surgery; rhinoplasty; treatment of osmidrosis and hyperhidrosis; hair transplants; gynecological formation treatments; laser hair removal; face line surgeries; cosmetical dental procedures; tattoo removal; lasik eye surgery; lateral canthoplasty; brow lift procedures; androgenetic alopecia treatment; and cheek sagging prevention methods. Further, it owns and operates treatment centers under the SBC brand. SBC Medical Group Holdings Incorporated was founded in 2000 and is headquartered in Irvine, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $174M | $85M | $51M | $22M | 19.4% | -15.5% | 9.4% |
| 2024 | $205M | $77M | $47M | $17M | 23.9% | 6.1% | 18.4% |
| 2023 | $194M | $86M | $39M | $39M | 27.4% | 11.1% | 523.4% |
| 2022 | $174M | $30M | $6M | $-25M | 5.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 174.16 | 193.54 | 205.42 | 173.61 |
| Cost Of Revenue | 59.33 | 56.24 | 49.37 | 46.32 |
| Gross Profit | 114.83 | 137.30 | 156.05 | 127.28 |
| Operating Expense | 93.48 | 66.23 | 70.69 | 59.80 |
| Operating Income | 21.35 | 71.07 | 85.36 | 67.49 |
| EBITDA | 29.64 | 85.87 | 77.28 | 84.91 |
| EBIT | 23.71 | 73.62 | 73.48 | 82.23 |
| Pretax Income | 23.68 | 73.58 | 73.46 | 82.07 |
| Tax Provision | 18.12 | 35.02 | 26.77 | 31.02 |
| Net Income | 6.32 | 39.37 | 46.61 | 50.99 |
| Net Income Common Stockholders | 6.32 | 39.37 | 46.61 | 50.99 |
| Total Expenses | 152.81 | 122.47 | 120.05 | 106.12 |
| Interest Expense | 0.03 | 0.05 | 0.03 | 0.16 |
| Interest Income | 0.47 | 0.09 | 0.02 | 0.20 |
| Selling General And Administration | 93.48 | 66.23 | 70.69 | 59.80 |
| Normalized EBITDA | 30.87 | 86.28 | 87.63 | 74.16 |
| Normalized Income | 7.29 | 39.69 | 53.19 | 44.30 |
| Basic EPS | 0.06 | 0.39 | 0.48 | 0 |
| Diluted EPS | 0.06 | 0.39 | 0.48 | 0 |
| Tax Effect Of Unusual Items | -0.26 | -0.09 | -3.77 | 4.06 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.36 | 0.38 |
| Total Unusual Items | -1.23 | -0.41 | -10.35 | 10.75 |
| Total Unusual Items Excluding Goodwill | -1.23 | -0.41 | -10.35 | 10.75 |
| Net Income From Continuing Operation Net Minority Interest | 6.32 | 39.37 | 46.61 | 50.99 |
| Reconciled Depreciation | 5.93 | 12.25 | 3.80 | 2.68 |
| Reconciled Cost Of Revenue | 59.33 | 56.24 | 49.37 | 46.32 |
| Net Interest Income | 0.44 | 0.04 | -0.01 | 0.04 |
| Net Income From Continuing And Discontinued Operation | 6.32 | 39.37 | 46.61 | 50.99 |
| Total Operating Income As Reported | 20.12 | 70.66 | 70.30 | 67.49 |
| Diluted Average Shares | 100.74 | 100.74 | 96.56 | 0 |
| Basic Average Shares | 100.74 | 100.74 | 96.56 | 0 |
| Diluted NI Availto Com Stockholders | 6.32 | 39.37 | 46.61 | 50.99 |
| Minority Interests | 0.76 | 0.81 | -0.08 | -0.06 |
| Net Income Including Noncontrolling Interests | 5.55 | 38.56 | 46.69 | 51.05 |
| Net Income Continuous Operations | 5.55 | 38.56 | 46.69 | 51.05 |
| Other Income Expense | 1.89 | 2.47 | -11.90 | 14.54 |
| Other Non Operating Income Expenses | 3.12 | 2.88 | -1.55 | 3.79 |
| Special Income Charges | -1.23 | -0.41 | -11.25 | 8.75 |
| Gain On Sale Of Business | 0 | 0 | 3.81 | 0 |
| Other Special Charges | 0.98 | 0.41 | 0 | -8.75 |
| Impairment Of Capital Assets | 0.25 | 0 | 15.06 | 0 |
| Gain On Sale Of Security | 0 | 0 | 0.90 | 2 |
| Net Non Operating Interest Income Expense | 0.44 | 0.04 | -0.01 | 0.04 |
| Interest Expense Non Operating | 0.03 | 0.05 | 0.03 | 0.16 |
| Interest Income Non Operating | 0.47 | 0.09 | 0.02 | 0.20 |
| General And Administrative Expense | 93.48 | 66.23 | 70.69 | 59.80 |
| Other Gand A | 70.65 | 66.23 | 57.67 | 59.80 |
| Salaries And Wages | 22.83 | 0 | 13.02 | 0 |
| Operating Revenue | 174.16 | 193.54 | 205.42 | 173.61 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| SBC Medical Group Holdings Incorporatedthis co. | SBC | $339M | 6.60↓ discount | 1.36 | 19.4% | 3.44 |
| Quad/Graphics, Inc. | QUAD | $366M | 12.09 | 2.77 | 21.0% | 4.30 |
| Matrix Service Company | MTRX | $363M | - | 2.64 | -20.6% | -20.87 |
| Kelly Services, Inc. | KELYA | $351M | - | 0.34 | -26.0% | 4.73 |
| Wabash National Corporation |
| WNC |
| $339M |
| 1.64 |
| 0.92 |
| 57.4% |
| 2.07 |
| Omega Flex, Inc. | OFLX | $339M | 22.82 | 4.02 | 17.6% | 15.85 |
| Tredegar Corporation | TG | $327M | 13.67 | 1.48 | 15.5% | 6.25 |
| L.B. Foster Company | FSTR | $320M | 44.36 | 1.77 | 4.3% | 10.12 |
| AerSale Corporation | ASLE | $313M | 36.83 | 0.74 | 2.0% | 12.77 |
| Peer Median | - | 18.24 | 1.63 | 9.9% | 5.49 | |