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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) and SBC Medical Group Holdings Inc (SBC). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($58.0M vs $39.6M, roughly 1.5× SBC Medical Group Holdings Inc). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs -53.8%, a 89.7% gap on every dollar of revenue. On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (-0.0% vs -10.9%). SBC Medical Group Holdings Inc produced more free cash flow last quarter ($51.2M vs $-16.1M). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs -15.0%).
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
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.
INDI vs SBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.0M | $39.6M |
| Net Profit | $-31.2M | $14.2M |
| Gross Margin | 37.3% | 73.1% |
| Operating Margin | -58.5% | 32.5% |
| Net Margin | -53.8% | 35.9% |
| Revenue YoY | -0.0% | -10.9% |
| Net Profit YoY | 9.1% | 117.2% |
| EPS (diluted) | $-0.16 | $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 | $58.0M | $39.6M | ||
| Q3 25 | $53.7M | $43.4M | ||
| Q2 25 | $51.6M | $43.4M | ||
| Q1 25 | $54.1M | $47.3M | ||
| Q4 24 | $58.0M | $44.4M | ||
| Q3 24 | $54.0M | $53.1M | ||
| Q2 24 | $52.4M | $53.1M | ||
| Q1 24 | $52.4M | $54.8M |
| Q4 25 | $-31.2M | $14.2M | ||
| Q3 25 | $-38.3M | $12.8M | ||
| Q2 25 | $-39.0M | $2.5M | ||
| Q1 25 | $-34.5M | $21.5M | ||
| Q4 24 | $-34.4M | $6.5M | ||
| Q3 24 | $-49.7M | $2.8M | ||
| Q2 24 | $-19.2M | $18.5M | ||
| Q1 24 | $-31.2M | $18.8M |
| Q4 25 | 37.3% | 73.1% | ||
| Q3 25 | 40.1% | 70.6% | ||
| Q2 25 | 40.6% | 69.2% | ||
| Q1 25 | 41.7% | 79.7% | ||
| Q4 24 | 42.6% | 76.3% | ||
| Q3 24 | 39.3% | 81.5% | ||
| Q2 24 | 42.2% | 74.2% | ||
| Q1 24 | 42.5% | 72.1% |
| Q4 25 | -58.5% | 32.5% | ||
| Q3 25 | -71.4% | 36.6% | ||
| Q2 25 | -83.3% | 33.6% | ||
| Q1 25 | -72.0% | 51.1% | ||
| Q4 24 | -58.4% | 10.6% | ||
| Q3 24 | -92.5% | 26.1% | ||
| Q2 24 | -70.0% | 51.4% | ||
| Q1 24 | -94.8% | 44.6% |
| Q4 25 | -53.8% | 35.9% | ||
| Q3 25 | -71.3% | 29.6% | ||
| Q2 25 | -75.6% | 5.7% | ||
| Q1 25 | -63.9% | 45.4% | ||
| Q4 24 | -59.2% | 14.7% | ||
| Q3 24 | -92.1% | 5.3% | ||
| Q2 24 | -36.6% | 34.8% | ||
| Q1 24 | -59.6% | 34.2% |
| Q4 25 | $-0.16 | $0.15 | ||
| Q3 25 | $-0.19 | $0.12 | ||
| Q2 25 | $-0.20 | $0.02 | ||
| Q1 25 | $-0.18 | $0.21 | ||
| Q4 24 | $-0.18 | $0.05 | ||
| Q3 24 | $-0.28 | $0.03 | ||
| Q2 24 | $-0.11 | $0.20 | ||
| Q1 24 | $-0.19 | $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 | $145.5M | $164.1M |
| Total DebtLower is stronger | $353.4M | $42.8M |
| Stockholders' EquityBook value | $358.0M | $248.3M |
| Total Assets | $840.8M | $380.4M |
| Debt / EquityLower = less leverage | 0.99× | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.5M | $164.1M | ||
| Q3 25 | $160.9M | $127.4M | ||
| Q2 25 | $192.6M | $152.7M | ||
| Q1 25 | $236.6M | $132.1M | ||
| Q4 24 | $274.2M | $125.0M | ||
| Q3 24 | $96.9M | $137.4M | ||
| Q2 24 | $112.3M | — | ||
| Q1 24 | $138.2M | — |
| Q4 25 | $353.4M | $42.8M | ||
| Q3 25 | $353.5M | $21.1M | ||
| Q2 25 | $352.5M | $7.1M | ||
| Q1 25 | $379.0M | $6.9M | ||
| Q4 24 | $381.3M | $6.6M | ||
| Q3 24 | — | $823.2K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $358.0M | $248.3M | ||
| Q3 25 | $369.2M | $248.0M | ||
| Q2 25 | $390.4M | $244.6M | ||
| Q1 25 | $405.6M | $226.4M | ||
| Q4 24 | $417.9M | $195.1M | ||
| Q3 24 | $458.6M | $205.0M | ||
| Q2 24 | $470.7M | $8.8M | ||
| Q1 24 | $432.9M | $9.0M |
| Q4 25 | $840.8M | $380.4M | ||
| Q3 25 | $855.1M | $321.4M | ||
| Q2 25 | $867.6M | $315.3M | ||
| Q1 25 | $909.0M | $284.6M | ||
| Q4 24 | $941.4M | $266.1M | ||
| Q3 24 | $797.5M | $296.5M | ||
| Q2 24 | $797.3M | $19.5M | ||
| Q1 24 | $803.6M | $19.8M |
| Q4 25 | 0.99× | 0.17× | ||
| Q3 25 | 0.96× | 0.09× | ||
| Q2 25 | 0.90× | 0.03× | ||
| Q1 25 | 0.93× | 0.03× | ||
| Q4 24 | 0.91× | 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 | $-14.4M | $52.0M |
| Free Cash FlowOCF − Capex | $-16.1M | $51.2M |
| FCF MarginFCF / Revenue | -27.8% | 129.3% |
| Capex IntensityCapex / Revenue | 3.0% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 3.66× |
| TTM Free Cash FlowTrailing 4 quarters | $-71.4M | $23.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.4M | $52.0M | ||
| Q3 25 | $-6.2M | $-20.9M | ||
| Q2 25 | $-7.6M | $-8.3M | ||
| Q1 25 | $-29.0M | $1.9M | ||
| Q4 24 | $-6.7M | $-7.3M | ||
| Q3 24 | $-22.8M | $5.0M | ||
| Q2 24 | $-19.7M | $19.2M | ||
| Q1 24 | $-9.3M | $3.7M |
| Q4 25 | $-16.1M | $51.2M | ||
| Q3 25 | $-10.3M | $-20.9M | ||
| Q2 25 | $-13.6M | $-8.6M | ||
| Q1 25 | $-31.4M | $1.7M | ||
| Q4 24 | $-8.6M | $-7.9M | ||
| Q3 24 | $-29.3M | $4.6M | ||
| Q2 24 | $-23.4M | $18.3M | ||
| Q1 24 | $-11.7M | $3.0M |
| Q4 25 | -27.8% | 129.3% | ||
| Q3 25 | -19.2% | -48.3% | ||
| Q2 25 | -26.4% | -19.9% | ||
| Q1 25 | -58.0% | 3.5% | ||
| Q4 24 | -14.8% | -17.8% | ||
| Q3 24 | -54.3% | 8.7% | ||
| Q2 24 | -44.7% | 34.5% | ||
| Q1 24 | -22.3% | 5.4% |
| Q4 25 | 3.0% | 2.0% | ||
| Q3 25 | 7.8% | 0.1% | ||
| Q2 25 | 11.6% | 0.7% | ||
| Q1 25 | 4.4% | 0.5% | ||
| Q4 24 | 3.2% | 1.3% | ||
| Q3 24 | 12.1% | 0.8% | ||
| Q2 24 | 7.0% | 1.6% | ||
| Q1 24 | 4.4% | 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
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
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% |
