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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and SBC Medical Group Holdings Inc (SBC). Click either name above to swap in a different company.
SBC Medical Group Holdings Inc is the larger business by last-quarter revenue ($39.6M vs $28.2M, roughly 1.4× Arena Group Holdings, Inc.). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs 18.9%, a 17.0% gap on every dollar of revenue. On growth, SBC Medical Group Holdings Inc posted the faster year-over-year revenue change (-10.9% vs -22.0%). Over the past eight quarters, Arena Group Holdings, Inc.'s revenue compounded faster (-1.2% CAGR vs -15.0%).
Arena Racing Company, also called ARC Racing and Leisure Group is a UK private company, created in 2012 by the merger of Arena Leisure and Northern Racing. It owns and operates 16 racecourses in Great Britain, accounting for 39% of British racing fixtures. It also operates hotels at Wolverhampton Racecourse, Lingfield Park Racecourse and Doncaster Racecourse and golf courses at Lingfield, Southwell and Newcastle.
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.
AREN vs SBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $39.6M |
| Net Profit | $5.3M | $14.2M |
| Gross Margin | 43.6% | 73.1% |
| Operating Margin | 26.6% | 32.5% |
| Net Margin | 18.9% | 35.9% |
| Revenue YoY | -22.0% | -10.9% |
| Net Profit YoY | -22.5% | 117.2% |
| EPS (diluted) | $0.12 | $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 | $28.2M | $39.6M | ||
| Q3 25 | $29.8M | $43.4M | ||
| Q2 25 | $45.0M | $43.4M | ||
| Q1 25 | $31.8M | $47.3M | ||
| Q4 24 | $36.2M | $44.4M | ||
| Q3 24 | $33.6M | $53.1M | ||
| Q2 24 | $27.2M | $53.1M | ||
| Q1 24 | $28.9M | $54.8M |
| Q4 25 | $5.3M | $14.2M | ||
| Q3 25 | $6.9M | $12.8M | ||
| Q2 25 | $108.6M | $2.5M | ||
| Q1 25 | $4.0M | $21.5M | ||
| Q4 24 | $6.9M | $6.5M | ||
| Q3 24 | $4.0M | $2.8M | ||
| Q2 24 | $-8.2M | $18.5M | ||
| Q1 24 | $-103.4M | $18.8M |
| Q4 25 | 43.6% | 73.1% | ||
| Q3 25 | 50.2% | 70.6% | ||
| Q2 25 | 56.5% | 69.2% | ||
| Q1 25 | 49.3% | 79.7% | ||
| Q4 24 | 52.6% | 76.3% | ||
| Q3 24 | 50.6% | 81.5% | ||
| Q2 24 | 39.4% | 74.2% | ||
| Q1 24 | 30.9% | 72.1% |
| Q4 25 | 26.6% | 32.5% | ||
| Q3 25 | 31.9% | 36.6% | ||
| Q2 25 | 36.5% | 33.6% | ||
| Q1 25 | 23.1% | 51.1% | ||
| Q4 24 | 28.6% | 10.6% | ||
| Q3 24 | 24.0% | 26.1% | ||
| Q2 24 | -9.5% | 51.4% | ||
| Q1 24 | -27.5% | 44.6% |
| Q4 25 | 18.9% | 35.9% | ||
| Q3 25 | 23.1% | 29.6% | ||
| Q2 25 | 241.4% | 5.7% | ||
| Q1 25 | 12.6% | 45.4% | ||
| Q4 24 | 19.0% | 14.7% | ||
| Q3 24 | 11.8% | 5.3% | ||
| Q2 24 | -30.1% | 34.8% | ||
| Q1 24 | -357.1% | 34.2% |
| Q4 25 | $0.12 | $0.15 | ||
| Q3 25 | $0.14 | $0.12 | ||
| Q2 25 | $2.28 | $0.02 | ||
| Q1 25 | $0.08 | $0.21 | ||
| Q4 24 | $1.23 | $0.05 | ||
| Q3 24 | $0.11 | $0.03 | ||
| Q2 24 | $-0.28 | $0.20 | ||
| Q1 24 | $-3.91 | $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 | $10.3M | $164.1M |
| Total DebtLower is stronger | $97.6M | $42.8M |
| Stockholders' EquityBook value | $-4.8M | $248.3M |
| Total Assets | $112.6M | $380.4M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $164.1M | ||
| Q3 25 | $12.5M | $127.4M | ||
| Q2 25 | $6.8M | $152.7M | ||
| Q1 25 | $2.9M | $132.1M | ||
| Q4 24 | $4.4M | $125.0M | ||
| Q3 24 | $5.8M | $137.4M | ||
| Q2 24 | $6.1M | — | ||
| Q1 24 | $4.0M | — |
| Q4 25 | $97.6M | $42.8M | ||
| Q3 25 | $110.5M | $21.1M | ||
| Q2 25 | $110.5M | $7.1M | ||
| Q1 25 | $110.5M | $6.9M | ||
| Q4 24 | $110.4M | $6.6M | ||
| Q3 24 | $102.4M | $823.2K | ||
| Q2 24 | $102.4M | — | ||
| Q1 24 | $102.3M | — |
| Q4 25 | $-4.8M | $248.3M | ||
| Q3 25 | $-10.4M | $248.0M | ||
| Q2 25 | $-17.3M | $244.6M | ||
| Q1 25 | $-126.1M | $226.4M | ||
| Q4 24 | $-130.3M | $195.1M | ||
| Q3 24 | $-137.5M | $205.0M | ||
| Q2 24 | $-157.2M | $8.8M | ||
| Q1 24 | $-149.6M | $9.0M |
| Q4 25 | $112.6M | $380.4M | ||
| Q3 25 | $121.4M | $321.4M | ||
| Q2 25 | $127.8M | $315.3M | ||
| Q1 25 | $114.6M | $284.6M | ||
| Q4 24 | $116.4M | $266.1M | ||
| Q3 24 | $114.2M | $296.5M | ||
| Q2 24 | $113.4M | $19.5M | ||
| Q1 24 | $120.3M | $19.8M |
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.09× | ||
| Q2 25 | — | 0.03× | ||
| Q1 25 | — | 0.03× | ||
| Q4 24 | — | 0.03× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $13.1M | $52.0M |
| Free Cash FlowOCF − Capex | — | $51.2M |
| FCF MarginFCF / Revenue | — | 129.3% |
| Capex IntensityCapex / Revenue | — | 2.0% |
| Cash ConversionOCF / Net Profit | 2.46× | 3.66× |
| TTM Free Cash FlowTrailing 4 quarters | — | $23.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $52.0M | ||
| Q3 25 | $12.2M | $-20.9M | ||
| Q2 25 | $10.3M | $-8.3M | ||
| Q1 25 | $3.7M | $1.9M | ||
| Q4 24 | $-8.6M | $-7.3M | ||
| Q3 24 | $-2.3M | $5.0M | ||
| Q2 24 | $-3.2M | $19.2M | ||
| Q1 24 | $-2.0M | $3.7M |
| Q4 25 | — | $51.2M | ||
| Q3 25 | — | $-20.9M | ||
| Q2 25 | — | $-8.6M | ||
| Q1 25 | — | $1.7M | ||
| Q4 24 | — | $-7.9M | ||
| Q3 24 | $-2.4M | $4.6M | ||
| Q2 24 | — | $18.3M | ||
| Q1 24 | — | $3.0M |
| Q4 25 | — | 129.3% | ||
| Q3 25 | — | -48.3% | ||
| Q2 25 | — | -19.9% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | -17.8% | ||
| Q3 24 | -7.1% | 8.7% | ||
| Q2 24 | — | 34.5% | ||
| Q1 24 | — | 5.4% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | 0.1% | 0.8% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 1.3% |
| Q4 25 | 2.46× | 3.66× | ||
| Q3 25 | 1.77× | -1.63× | ||
| Q2 25 | 0.09× | -3.39× | ||
| Q1 25 | 0.91× | 0.09× | ||
| Q4 24 | -1.25× | -1.12× | ||
| Q3 24 | -0.59× | 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
AREN
Segment breakdown not available.
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% |
