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MARKETS / NASDAQ / SBC
NASDAQ · SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE · SMALL CAP

SBC Medical Group Holdings Inc. SBC

3 fiscal years on record · USD · FY2025 reported · SEC filings only
$173.6M
▼ 15.5% YoY
$51.0M
▲ 9.4% YoY
$23.3M
▲ 29.1% YoY
In brief

What this company does

It also owns and operates clinics in Vietnam and Singapore, and pursues U.S. market initiatives primarily through strategic investments and alliances. As of December 31, 2025, the Company and its subsidiaries provided management services to a total of 237 franchisee treatment centers located in Japan, including 5 independently operated clinics under separate franchise arrangements. It operates 21 treatment centers in Singapore through Aesthetic Healthcare Holdings and its subsidiaries. Its management services to franchisee clinics include advertising and marketing across various platforms, staff management such as recruitment and training, and booking and reservation services for franchisee clinic customers. As of December 31, 2025, it had approximately 863 regular employees globally, excluding employees of the managed clinics and medical corporations it supports, a majority of which are located in Japan, Singapore, Vietnam, and the United States. SBC Medical Group Holdings Incorporated was originally incorporated in Delaware on March 11, 2022 under the name "Pono Capital Two, Inc." as a special purpose acquisition company. The history of Legacy SBC began with the establishment of L'Ange Cosmetique Co., Ltd. in 2003 and SBC Japan, formerly Aikawa Medical, in 2017, for the purpose of providing management services to medical corporations and their medical clinics.

Written from the business description in SBC Medical Group Holdings Incorporated's annual report to the U.S. Securities and Exchange Commission, filed 27 March 2026. Every sentence was checked against that document before publication.

Growth
USD 173.6M
Revenue, FY2025 · full 3-year series below
Revenue $M Net income $M
FY2025 · Revenue 173.6 · Net income 51.0
80M160M202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
29 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 38.9% · Net 29.4%
10%20%30%202320242025
ROE
FY2025 · ROE 23.0%
10%20%202320242025

Each USD of equity produced 23 cents of profit this year.

Cash & shareholders
USD 5.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 23.3
20M40M202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 5.0
2M4M20242025

USD 5.0M in buybacks — 10% of the year's profit went back to shareholders.

Total assetsUSD 380.4M
EquityUSD 248.3M
CashUSD 163.8M
Gross debtUSD 43.1M
Net debtUSD -120.7M
Current ratio3.78×

The company holds more cash than debt.

The 3-year record
3 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023
Revenue $B0.20.20.2
Operating income $B0.10.10.1
EBITDA $B0.10.10.1
Income tax $B0.00.00.0
Net income $B0.10.00.0
Free cash flow $B0.00.00.0
EPS, diluted $0.500.480.42
Dividend / sh $···
Payout %···
ROE %23.027.627.7
Shares out B0.100.100.09

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 15 reconciliationsAUDITED

Reconciled in 3 of 19 fiscal years. 80 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Offices & Clinics of Doctors of Medicine
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company, smaller reporting company
Data on record since2023

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