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Side-by-side financial comparison of FRANKLIN STREET PROPERTIES CORP (FSP) 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 $26.0M, roughly 1.5× FRANKLIN STREET PROPERTIES CORP). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs -28.1%, a 64.0% gap on every dollar of revenue. On growth, FRANKLIN STREET PROPERTIES CORP posted the faster year-over-year revenue change (-8.2% vs -10.9%). SBC Medical Group Holdings Inc produced more free cash flow last quarter ($51.2M vs $-12.7M). Over the past eight quarters, FRANKLIN STREET PROPERTIES CORP's revenue compounded faster (-8.7% CAGR vs -15.0%).
Franklin Street Properties Corp is a Massachusetts-based real estate investment trust (REIT) in the United States. It primarily invests in, owns, and operates high-quality office properties across major U.S. metropolitan markets, serving corporate tenants across various industry segments, and delivers stable long-term returns via rental income and strategic asset management.
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.
FSP vs SBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.0M | $39.6M |
| Net Profit | $-7.3M | $14.2M |
| Gross Margin | 59.4% | 73.1% |
| Operating Margin | -27.9% | 32.5% |
| Net Margin | -28.1% | 35.9% |
| Revenue YoY | -8.2% | -10.9% |
| Net Profit YoY | 14.1% | 117.2% |
| EPS (diluted) | $-0.06 | $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 | $26.0M | $39.6M | ||
| Q3 25 | $27.3M | $43.4M | ||
| Q2 25 | $26.7M | $43.4M | ||
| Q1 25 | $27.1M | $47.3M | ||
| Q4 24 | $28.4M | $44.4M | ||
| Q3 24 | $29.7M | $53.1M | ||
| Q2 24 | $30.8M | $53.1M | ||
| Q1 24 | $31.2M | $54.8M |
| Q4 25 | $-7.3M | $14.2M | ||
| Q3 25 | $-8.3M | $12.8M | ||
| Q2 25 | $-7.9M | $2.5M | ||
| Q1 25 | $-21.4M | $21.5M | ||
| Q4 24 | $-8.5M | $6.5M | ||
| Q3 24 | $-15.6M | $2.8M | ||
| Q2 24 | $-21.0M | $18.5M | ||
| Q1 24 | $-7.6M | $18.8M |
| Q4 25 | 59.4% | 73.1% | ||
| Q3 25 | 60.9% | 70.6% | ||
| Q2 25 | 59.9% | 69.2% | ||
| Q1 25 | 62.8% | 79.7% | ||
| Q4 24 | 59.7% | 76.3% | ||
| Q3 24 | 61.0% | 81.5% | ||
| Q2 24 | 64.2% | 74.2% | ||
| Q1 24 | 64.7% | 72.1% |
| Q4 25 | -27.9% | 32.5% | ||
| Q3 25 | -30.5% | 36.6% | ||
| Q2 25 | -29.2% | 33.6% | ||
| Q1 25 | -78.9% | 51.1% | ||
| Q4 24 | -29.9% | 10.6% | ||
| Q3 24 | -52.4% | 26.1% | ||
| Q2 24 | -68.0% | 51.4% | ||
| Q1 24 | -24.0% | 44.6% |
| Q4 25 | -28.1% | 35.9% | ||
| Q3 25 | -30.5% | 29.6% | ||
| Q2 25 | -29.5% | 5.7% | ||
| Q1 25 | -79.1% | 45.4% | ||
| Q4 24 | -30.0% | 14.7% | ||
| Q3 24 | -52.6% | 5.3% | ||
| Q2 24 | -68.2% | 34.8% | ||
| Q1 24 | -24.2% | 34.2% |
| Q4 25 | $-0.06 | $0.15 | ||
| Q3 25 | $-0.08 | $0.12 | ||
| Q2 25 | $-0.08 | $0.02 | ||
| Q1 25 | $-0.21 | $0.21 | ||
| Q4 24 | $-0.09 | $0.05 | ||
| Q3 24 | $-0.15 | $0.03 | ||
| Q2 24 | $-0.20 | $0.20 | ||
| Q1 24 | $-0.07 | $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 | $30.6M | $164.1M |
| Total DebtLower is stronger | — | $42.8M |
| Stockholders' EquityBook value | $607.0M | $248.3M |
| Total Assets | $892.9M | $380.4M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.6M | $164.1M | ||
| Q3 25 | $31.4M | $127.4M | ||
| Q2 25 | $29.4M | $152.7M | ||
| Q1 25 | $30.2M | $132.1M | ||
| Q4 24 | $41.1M | $125.0M | ||
| Q3 24 | $40.9M | $137.4M | ||
| Q2 24 | $30.2M | — | ||
| Q1 24 | $34.2M | — |
| Q4 25 | — | $42.8M | ||
| Q3 25 | — | $21.1M | ||
| Q2 25 | — | $7.1M | ||
| Q1 25 | — | $6.9M | ||
| Q4 24 | — | $6.6M | ||
| Q3 24 | — | $823.2K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $607.0M | $248.3M | ||
| Q3 25 | $615.3M | $248.0M | ||
| Q2 25 | $624.7M | $244.6M | ||
| Q1 25 | $633.4M | $226.4M | ||
| Q4 24 | $655.9M | $195.1M | ||
| Q3 24 | $665.4M | $205.0M | ||
| Q2 24 | $682.1M | $8.8M | ||
| Q1 24 | $703.9M | $9.0M |
| Q4 25 | $892.9M | $380.4M | ||
| Q3 25 | $901.0M | $321.4M | ||
| Q2 25 | $903.2M | $315.3M | ||
| Q1 25 | $916.4M | $284.6M | ||
| Q4 24 | $946.9M | $266.1M | ||
| Q3 24 | $981.5M | $296.5M | ||
| Q2 24 | $1.0B | $19.5M | ||
| Q1 24 | $1.0B | $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 | $3.8M | $52.0M |
| Free Cash FlowOCF − Capex | $-12.7M | $51.2M |
| FCF MarginFCF / Revenue | -48.6% | 129.3% |
| Capex IntensityCapex / Revenue | 63.0% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 3.66× |
| TTM Free Cash FlowTrailing 4 quarters | $-25.3M | $23.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8M | $52.0M | ||
| Q3 25 | $8.3M | $-20.9M | ||
| Q2 25 | $-2.9M | $-8.3M | ||
| Q1 25 | $-5.5M | $1.9M | ||
| Q4 24 | $9.0M | $-7.3M | ||
| Q3 24 | $14.5M | $5.0M | ||
| Q2 24 | $-648.0K | $19.2M | ||
| Q1 24 | $-7.1M | $3.7M |
| Q4 25 | $-12.7M | $51.2M | ||
| Q3 25 | $3.0M | $-20.9M | ||
| Q2 25 | $-5.7M | $-8.6M | ||
| Q1 25 | $-9.9M | $1.7M | ||
| Q4 24 | $-16.2M | $-7.9M | ||
| Q3 24 | $8.6M | $4.6M | ||
| Q2 24 | $-5.1M | $18.3M | ||
| Q1 24 | $-15.8M | $3.0M |
| Q4 25 | -48.6% | 129.3% | ||
| Q3 25 | 11.0% | -48.3% | ||
| Q2 25 | -21.5% | -19.9% | ||
| Q1 25 | -36.7% | 3.5% | ||
| Q4 24 | -57.2% | -17.8% | ||
| Q3 24 | 29.1% | 8.7% | ||
| Q2 24 | -16.7% | 34.5% | ||
| Q1 24 | -50.8% | 5.4% |
| Q4 25 | 63.0% | 2.0% | ||
| Q3 25 | 19.4% | 0.1% | ||
| Q2 25 | 10.7% | 0.7% | ||
| Q1 25 | 16.4% | 0.5% | ||
| Q4 24 | 88.9% | 1.3% | ||
| Q3 24 | 19.6% | 0.8% | ||
| Q2 24 | 14.6% | 1.6% | ||
| Q1 24 | 28.1% | 1.3% |
| Q4 25 | — | 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
FSP
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% |
