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Side-by-side financial comparison of CODEXIS, INC. (CDXS) 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 $38.9M, roughly 1.0× CODEXIS, INC.). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs 24.7%, a 11.2% gap on every dollar of revenue. On growth, CODEXIS, INC. posted the faster year-over-year revenue change (81.3% vs -10.9%). SBC Medical Group Holdings Inc produced more free cash flow last quarter ($51.2M vs $19.6M). Over the past eight quarters, CODEXIS, INC.'s revenue compounded faster (51.0% CAGR vs -15.0%).
Codexis, Inc. is a protein engineering company that develops enzymes for pharmaceutical, food and medical applications.
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.
CDXS vs SBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $38.9M | $39.6M |
| Net Profit | $9.6M | $14.2M |
| Gross Margin | 94.8% | 73.1% |
| Operating Margin | 27.1% | 32.5% |
| Net Margin | 24.7% | 35.9% |
| Revenue YoY | 81.3% | -10.9% |
| Net Profit YoY | 192.5% | 117.2% |
| EPS (diluted) | $0.13 | $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 | $38.9M | $39.6M | ||
| Q3 25 | $8.6M | $43.4M | ||
| Q2 25 | $15.3M | $43.4M | ||
| Q1 25 | $7.5M | $47.3M | ||
| Q4 24 | $21.5M | $44.4M | ||
| Q3 24 | $12.8M | $53.1M | ||
| Q2 24 | $8.0M | $53.1M | ||
| Q1 24 | $17.1M | $54.8M |
| Q4 25 | $9.6M | $14.2M | ||
| Q3 25 | $-19.6M | $12.8M | ||
| Q2 25 | $-13.3M | $2.5M | ||
| Q1 25 | $-20.7M | $21.5M | ||
| Q4 24 | $-10.4M | $6.5M | ||
| Q3 24 | $-20.6M | $2.8M | ||
| Q2 24 | $-22.8M | $18.5M | ||
| Q1 24 | $-11.5M | $18.8M |
| Q4 25 | 94.8% | 73.1% | ||
| Q3 25 | 71.3% | 70.6% | ||
| Q2 25 | 86.3% | 69.2% | ||
| Q1 25 | 63.8% | 79.7% | ||
| Q4 24 | 83.0% | 76.3% | ||
| Q3 24 | 66.4% | 81.5% | ||
| Q2 24 | 56.6% | 74.2% | ||
| Q1 24 | 71.6% | 72.1% |
| Q4 25 | 27.1% | 32.5% | ||
| Q3 25 | -220.3% | 36.6% | ||
| Q2 25 | -83.9% | 33.6% | ||
| Q1 25 | -271.6% | 51.1% | ||
| Q4 24 | -34.2% | 10.6% | ||
| Q3 24 | -129.0% | 26.1% | ||
| Q2 24 | -284.9% | 51.4% | ||
| Q1 24 | -69.6% | 44.6% |
| Q4 25 | 24.7% | 35.9% | ||
| Q3 25 | -228.1% | 29.6% | ||
| Q2 25 | -86.6% | 5.7% | ||
| Q1 25 | -274.3% | 45.4% | ||
| Q4 24 | -48.4% | 14.7% | ||
| Q3 24 | -160.8% | 5.3% | ||
| Q2 24 | -285.2% | 34.8% | ||
| Q1 24 | -67.4% | 34.2% |
| Q4 25 | $0.13 | $0.15 | ||
| Q3 25 | $-0.22 | $0.12 | ||
| Q2 25 | $-0.16 | $0.02 | ||
| Q1 25 | $-0.25 | $0.21 | ||
| Q4 24 | $-0.12 | $0.05 | ||
| Q3 24 | $-0.29 | $0.03 | ||
| Q2 24 | $-0.32 | $0.20 | ||
| Q1 24 | $-0.16 | $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 | $78.2M | $164.1M |
| Total DebtLower is stronger | $40.1M | $42.8M |
| Stockholders' EquityBook value | $50.5M | $248.3M |
| Total Assets | $147.8M | $380.4M |
| Debt / EquityLower = less leverage | 0.79× | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $78.2M | $164.1M | ||
| Q3 25 | $58.7M | $127.4M | ||
| Q2 25 | $66.3M | $152.7M | ||
| Q1 25 | $59.8M | $132.1M | ||
| Q4 24 | $73.5M | $125.0M | ||
| Q3 24 | $90.3M | $137.4M | ||
| Q2 24 | $73.2M | — | ||
| Q1 24 | $85.5M | — |
| Q4 25 | $40.1M | $42.8M | ||
| Q3 25 | $39.7M | $21.1M | ||
| Q2 25 | $39.4M | $7.1M | ||
| Q1 25 | $29.2M | $6.9M | ||
| Q4 24 | $28.9M | $6.6M | ||
| Q3 24 | $28.6M | $823.2K | ||
| Q2 24 | $28.4M | — | ||
| Q1 24 | $28.1M | — |
| Q4 25 | $50.5M | $248.3M | ||
| Q3 25 | $38.5M | $248.0M | ||
| Q2 25 | $55.6M | $244.6M | ||
| Q1 25 | $49.6M | $226.4M | ||
| Q4 24 | $66.9M | $195.1M | ||
| Q3 24 | $73.4M | $205.0M | ||
| Q2 24 | $61.4M | $8.8M | ||
| Q1 24 | $79.3M | $9.0M |
| Q4 25 | $147.8M | $380.4M | ||
| Q3 25 | $124.0M | $321.4M | ||
| Q2 25 | $138.2M | $315.3M | ||
| Q1 25 | $128.9M | $284.6M | ||
| Q4 24 | $149.0M | $266.1M | ||
| Q3 24 | $148.2M | $296.5M | ||
| Q2 24 | $132.0M | $19.5M | ||
| Q1 24 | $149.6M | $19.8M |
| Q4 25 | 0.79× | 0.17× | ||
| Q3 25 | 1.03× | 0.09× | ||
| Q2 25 | 0.71× | 0.03× | ||
| Q1 25 | 0.59× | 0.03× | ||
| Q4 24 | 0.43× | 0.03× | ||
| Q3 24 | 0.39× | 0.00× | ||
| Q2 24 | 0.46× | — | ||
| Q1 24 | 0.35× | — |
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 | $20.1M | $52.0M |
| Free Cash FlowOCF − Capex | $19.6M | $51.2M |
| FCF MarginFCF / Revenue | 50.3% | 129.3% |
| Capex IntensityCapex / Revenue | 1.3% | 2.0% |
| Cash ConversionOCF / Net Profit | 2.09× | 3.66× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.8M | $23.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.1M | $52.0M | ||
| Q3 25 | $-7.7M | $-20.9M | ||
| Q2 25 | $-18.0M | $-8.3M | ||
| Q1 25 | $-13.8M | $1.9M | ||
| Q4 24 | $-16.5M | $-7.3M | ||
| Q3 24 | $-13.0M | $5.0M | ||
| Q2 24 | $-12.2M | $19.2M | ||
| Q1 24 | $-7.8M | $3.7M |
| Q4 25 | $19.6M | $51.2M | ||
| Q3 25 | $-7.9M | $-20.9M | ||
| Q2 25 | $-20.5M | $-8.6M | ||
| Q1 25 | $-15.1M | $1.7M | ||
| Q4 24 | $-18.2M | $-7.9M | ||
| Q3 24 | $-14.0M | $4.6M | ||
| Q2 24 | $-12.6M | $18.3M | ||
| Q1 24 | $-8.9M | $3.0M |
| Q4 25 | 50.3% | 129.3% | ||
| Q3 25 | -91.7% | -48.3% | ||
| Q2 25 | -133.6% | -19.9% | ||
| Q1 25 | -199.6% | 3.5% | ||
| Q4 24 | -85.0% | -17.8% | ||
| Q3 24 | -109.0% | 8.7% | ||
| Q2 24 | -157.5% | 34.5% | ||
| Q1 24 | -52.2% | 5.4% |
| Q4 25 | 1.3% | 2.0% | ||
| Q3 25 | 2.1% | 0.1% | ||
| Q2 25 | 16.4% | 0.7% | ||
| Q1 25 | 16.7% | 0.5% | ||
| Q4 24 | 8.3% | 1.3% | ||
| Q3 24 | 7.8% | 0.8% | ||
| Q2 24 | 5.0% | 1.6% | ||
| Q1 24 | 6.6% | 1.3% |
| Q4 25 | 2.09× | 3.66× | ||
| Q3 25 | — | -1.63× | ||
| Q2 25 | — | -3.39× | ||
| Q1 25 | — | 0.09× | ||
| Q4 24 | — | -1.12× | ||
| Q3 24 | — | 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
CDXS
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% |
