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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and SBC Medical Group Holdings Inc (SBC). Click either name above to swap in a different company.
ADAMAS TRUST, INC. is the larger business by last-quarter revenue ($43.2M vs $39.6M, roughly 1.1× SBC Medical Group Holdings Inc). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs 35.9%, a 88.1% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs -10.9%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $51.2M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -15.0%).
SBC Medical Group Holdings Inc. is a leading Japan-headquartered healthcare provider primarily focused on aesthetic medicine, dermatology, and anti-aging wellness services. It operates an extensive network of clinics across Japan, catering to both domestic patients and international medical tourists, with core offerings including cosmetic surgery and non-invasive skincare treatments.
ADAM vs SBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $39.6M |
| Net Profit | $53.5M | $14.2M |
| Gross Margin | — | 73.1% |
| Operating Margin | — | 32.5% |
| Net Margin | 124.0% | 35.9% |
| Revenue YoY | 61.6% | -10.9% |
| Net Profit YoY | 270.5% | 117.2% |
| EPS (diluted) | $0.45 | $0.15 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.2M | $39.6M | ||
| Q3 25 | $36.6M | $43.4M | ||
| Q2 25 | $36.4M | $43.4M | ||
| Q1 25 | $33.1M | $47.3M | ||
| Q4 24 | $26.7M | $44.4M | ||
| Q3 24 | $20.2M | $53.1M | ||
| Q2 24 | $19.0M | $53.1M | ||
| Q1 24 | $17.9M | $54.8M |
| Q4 25 | $53.5M | $14.2M | ||
| Q3 25 | $44.8M | $12.8M | ||
| Q2 25 | $8.5M | $2.5M | ||
| Q1 25 | $42.2M | $21.5M | ||
| Q4 24 | $-31.4M | $6.5M | ||
| Q3 24 | $42.8M | $2.8M | ||
| Q2 24 | $-15.6M | $18.5M | ||
| Q1 24 | $-57.9M | $18.8M |
| Q4 25 | — | 73.1% | ||
| Q3 25 | — | 70.6% | ||
| Q2 25 | — | 69.2% | ||
| Q1 25 | — | 79.7% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 81.5% | ||
| Q2 24 | — | 74.2% | ||
| Q1 24 | — | 72.1% |
| Q4 25 | — | 32.5% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | 11.7% | 33.6% | ||
| Q1 25 | — | 51.1% | ||
| Q4 24 | -119.0% | 10.6% | ||
| Q3 24 | — | 26.1% | ||
| Q2 24 | -124.7% | 51.4% | ||
| Q1 24 | -448.8% | 44.6% |
| Q4 25 | 124.0% | 35.9% | ||
| Q3 25 | 122.5% | 29.6% | ||
| Q2 25 | 23.4% | 5.7% | ||
| Q1 25 | 127.4% | 45.4% | ||
| Q4 24 | -117.5% | 14.7% | ||
| Q3 24 | 211.7% | 5.3% | ||
| Q2 24 | -81.9% | 34.8% | ||
| Q1 24 | -324.1% | 34.2% |
| Q4 25 | $0.45 | $0.15 | ||
| Q3 25 | $0.36 | $0.12 | ||
| Q2 25 | $-0.04 | $0.02 | ||
| Q1 25 | $0.33 | $0.21 | ||
| Q4 24 | $-0.46 | $0.05 | ||
| Q3 24 | $0.36 | $0.03 | ||
| Q2 24 | $-0.29 | $0.20 | ||
| Q1 24 | $-0.75 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.3M | $164.1M |
| Total DebtLower is stronger | $735.8M | $42.8M |
| Stockholders' EquityBook value | $1.4B | $248.3M |
| Total Assets | $12.6B | $380.4M |
| Debt / EquityLower = less leverage | 0.52× | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $164.1M | ||
| Q3 25 | $185.3M | $127.4M | ||
| Q2 25 | $160.4M | $152.7M | ||
| Q1 25 | $177.1M | $132.1M | ||
| Q4 24 | $167.4M | $125.0M | ||
| Q3 24 | $195.1M | $137.4M | ||
| Q2 24 | $235.5M | — | ||
| Q1 24 | $226.9M | — |
| Q4 25 | $735.8M | $42.8M | ||
| Q3 25 | $766.6M | $21.1M | ||
| Q2 25 | $653.0M | $7.1M | ||
| Q1 25 | $654.4M | $6.9M | ||
| Q4 24 | $573.2M | $6.6M | ||
| Q3 24 | $699.4M | $823.2K | ||
| Q2 24 | $800.7M | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $1.4B | $248.3M | ||
| Q3 25 | $1.4B | $248.0M | ||
| Q2 25 | $1.4B | $244.6M | ||
| Q1 25 | $1.4B | $226.4M | ||
| Q4 24 | $1.4B | $195.1M | ||
| Q3 24 | $1.4B | $205.0M | ||
| Q2 24 | $1.4B | $8.8M | ||
| Q1 24 | $1.5B | $9.0M |
| Q4 25 | $12.6B | $380.4M | ||
| Q3 25 | $12.4B | $321.4M | ||
| Q2 25 | $10.6B | $315.3M | ||
| Q1 25 | $10.0B | $284.6M | ||
| Q4 24 | $9.2B | $266.1M | ||
| Q3 24 | $8.9B | $296.5M | ||
| Q2 24 | $8.2B | $19.5M | ||
| Q1 24 | $7.4B | $19.8M |
| Q4 25 | 0.52× | 0.17× | ||
| Q3 25 | 0.55× | 0.09× | ||
| Q2 25 | 0.47× | 0.03× | ||
| Q1 25 | 0.47× | 0.03× | ||
| Q4 24 | 0.41× | 0.03× | ||
| Q3 24 | 0.48× | 0.00× | ||
| Q2 24 | 0.56× | — | ||
| Q1 24 | 0.67× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $134.0M | $52.0M |
| Free Cash FlowOCF − Capex | $125.9M | $51.2M |
| FCF MarginFCF / Revenue | 291.6% | 129.3% |
| Capex IntensityCapex / Revenue | 18.9% | 2.0% |
| Cash ConversionOCF / Net Profit | 2.50× | 3.66× |
| TTM Free Cash FlowTrailing 4 quarters | — | $23.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $52.0M | ||
| Q3 25 | $6.9M | $-20.9M | ||
| Q2 25 | $39.2M | $-8.3M | ||
| Q1 25 | $25.8M | $1.9M | ||
| Q4 24 | $14.1M | $-7.3M | ||
| Q3 24 | $-922.0K | $5.0M | ||
| Q2 24 | $-993.0K | $19.2M | ||
| Q1 24 | $-13.1M | $3.7M |
| Q4 25 | $125.9M | $51.2M | ||
| Q3 25 | — | $-20.9M | ||
| Q2 25 | — | $-8.6M | ||
| Q1 25 | — | $1.7M | ||
| Q4 24 | $-10.6M | $-7.9M | ||
| Q3 24 | $-8.6M | $4.6M | ||
| Q2 24 | $-8.6M | $18.3M | ||
| Q1 24 | $-19.1M | $3.0M |
| Q4 25 | 291.6% | 129.3% | ||
| Q3 25 | — | -48.3% | ||
| Q2 25 | — | -19.9% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | -39.6% | -17.8% | ||
| Q3 24 | -42.3% | 8.7% | ||
| Q2 24 | -44.9% | 34.5% | ||
| Q1 24 | -107.0% | 5.4% |
| Q4 25 | 18.9% | 2.0% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | 92.3% | 1.3% | ||
| Q3 24 | 37.7% | 0.8% | ||
| Q2 24 | 39.7% | 1.6% | ||
| Q1 24 | 33.5% | 1.3% |
| Q4 25 | 2.50× | 3.66× | ||
| Q3 25 | 0.15× | -1.63× | ||
| Q2 25 | 4.59× | -3.39× | ||
| Q1 25 | 0.61× | 0.09× | ||
| Q4 24 | — | -1.12× | ||
| Q3 24 | -0.02× | 1.77× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 0.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
SBC
| Franchising | $10.3M | 26% |
| Medical Corporation Shobikai | $8.1M | 21% |
| Medical Corporation Nasukai | $7.2M | 18% |
| Management Services | $6.3M | 16% |
| Rental Services | $4.3M | 11% |
| Medical Corporation Association Furinkai | $3.0M | 8% |
| Japan Medical And Beauty Inc | $656.5K | 2% |
