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Side-by-side financial comparison of Net Lease Office Properties (NLOP) 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 $30.7M, roughly 1.3× Net Lease Office Properties). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs -0.2%, a 36.1% gap on every dollar of revenue. On growth, Net Lease Office Properties posted the faster year-over-year revenue change (10.9% vs -10.9%). Over the past eight quarters, SBC Medical Group Holdings Inc's revenue compounded faster (-15.0% CAGR vs -16.4%).
Net Lease Office Properties is a real estate investment entity focused on acquiring, owning, and operating high-quality single-tenant net lease office assets, primarily located across the United States. It delivers stable, long-term income streams to investors through its curated portfolio of commercial real estate holdings.
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.
NLOP vs SBC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.7M | $39.6M |
| Net Profit | $-53.0K | $14.2M |
| Gross Margin | — | 73.1% |
| Operating Margin | -0.2% | 32.5% |
| Net Margin | -0.2% | 35.9% |
| Revenue YoY | 10.9% | -10.9% |
| Net Profit YoY | 99.9% | 117.2% |
| EPS (diluted) | $-0.01 | $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 | $30.7M | $39.6M | ||
| Q3 25 | $29.8M | $43.4M | ||
| Q2 25 | $29.2M | $43.4M | ||
| Q1 25 | $29.2M | $47.3M | ||
| Q4 24 | $27.7M | $44.4M | ||
| Q3 24 | $31.5M | $53.1M | ||
| Q2 24 | $39.0M | $53.1M | ||
| Q1 24 | $44.0M | $54.8M |
| Q4 25 | $-53.0K | $14.2M | ||
| Q3 25 | $-64.2M | $12.8M | ||
| Q2 25 | $-81.5M | $2.5M | ||
| Q1 25 | $492.0K | $21.5M | ||
| Q4 24 | $-35.8M | $6.5M | ||
| Q3 24 | $-40.3M | $2.8M | ||
| Q2 24 | $12.5M | $18.5M | ||
| Q1 24 | $-27.8M | $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 | -0.2% | 32.5% | ||
| Q3 25 | -215.2% | 36.6% | ||
| Q2 25 | -279.1% | 33.6% | ||
| Q1 25 | 2.0% | 51.1% | ||
| Q4 24 | -140.7% | 10.6% | ||
| Q3 24 | -126.4% | 26.1% | ||
| Q2 24 | 32.3% | 51.4% | ||
| Q1 24 | -62.7% | 44.6% |
| Q4 25 | -0.2% | 35.9% | ||
| Q3 25 | -215.4% | 29.6% | ||
| Q2 25 | -279.5% | 5.7% | ||
| Q1 25 | 1.7% | 45.4% | ||
| Q4 24 | -129.0% | 14.7% | ||
| Q3 24 | -128.0% | 5.3% | ||
| Q2 24 | 31.9% | 34.8% | ||
| Q1 24 | -63.3% | 34.2% |
| Q4 25 | $-0.01 | $0.15 | ||
| Q3 25 | $-4.33 | $0.12 | ||
| Q2 25 | $-5.50 | $0.02 | ||
| Q1 25 | $0.03 | $0.21 | ||
| Q4 24 | $-2.41 | $0.05 | ||
| Q3 24 | $-2.73 | $0.03 | ||
| Q2 24 | $0.84 | $0.20 | ||
| Q1 24 | $-1.88 | $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 | $119.6M | $164.1M |
| Total DebtLower is stronger | $21.9M | $42.8M |
| Stockholders' EquityBook value | $293.9M | $248.3M |
| Total Assets | $453.4M | $380.4M |
| Debt / EquityLower = less leverage | 0.07× | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $119.6M | $164.1M | ||
| Q3 25 | $38.7M | $127.4M | ||
| Q2 25 | $54.1M | $152.7M | ||
| Q1 25 | $28.2M | $132.1M | ||
| Q4 24 | $25.1M | $125.0M | ||
| Q3 24 | $36.1M | $137.4M | ||
| Q2 24 | $36.1M | — | ||
| Q1 24 | $39.8M | — |
| Q4 25 | $21.9M | $42.8M | ||
| Q3 25 | $47.1M | $21.1M | ||
| Q2 25 | $117.2M | $7.1M | ||
| Q1 25 | $148.5M | $6.9M | ||
| Q4 24 | $169.2M | $6.6M | ||
| Q3 24 | $239.4M | $823.2K | ||
| Q2 24 | $327.4M | — | ||
| Q1 24 | $515.2M | — |
| Q4 25 | $293.9M | $248.3M | ||
| Q3 25 | $430.3M | $248.0M | ||
| Q2 25 | $500.0M | $244.6M | ||
| Q1 25 | $582.1M | $226.4M | ||
| Q4 24 | $581.2M | $195.1M | ||
| Q3 24 | $621.9M | $205.0M | ||
| Q2 24 | $660.3M | $8.8M | ||
| Q1 24 | $647.2M | $9.0M |
| Q4 25 | $453.4M | $380.4M | ||
| Q3 25 | $522.6M | $321.4M | ||
| Q2 25 | $668.7M | $315.3M | ||
| Q1 25 | $784.1M | $284.6M | ||
| Q4 24 | $805.1M | $266.1M | ||
| Q3 24 | $919.9M | $296.5M | ||
| Q2 24 | $1.0B | $19.5M | ||
| Q1 24 | $1.2B | $19.8M |
| Q4 25 | 0.07× | 0.17× | ||
| Q3 25 | 0.11× | 0.09× | ||
| Q2 25 | 0.23× | 0.03× | ||
| Q1 25 | 0.26× | 0.03× | ||
| Q4 24 | 0.29× | 0.03× | ||
| Q3 24 | 0.38× | 0.00× | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | 0.80× | — |
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 | $64.1M | $52.0M |
| Free Cash FlowOCF − Capex | — | $51.2M |
| FCF MarginFCF / Revenue | — | 129.3% |
| Capex IntensityCapex / Revenue | — | 2.0% |
| Cash ConversionOCF / Net Profit | — | 3.66× |
| TTM Free Cash FlowTrailing 4 quarters | — | $23.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.1M | $52.0M | ||
| Q3 25 | $16.3M | $-20.9M | ||
| Q2 25 | $11.7M | $-8.3M | ||
| Q1 25 | $14.1M | $1.9M | ||
| Q4 24 | $71.9M | $-7.3M | ||
| Q3 24 | $20.3M | $5.0M | ||
| Q2 24 | $14.7M | $19.2M | ||
| Q1 24 | $26.4M | $3.7M |
| Q4 25 | — | $51.2M | ||
| Q3 25 | — | $-20.9M | ||
| Q2 25 | — | $-8.6M | ||
| Q1 25 | — | $1.7M | ||
| Q4 24 | — | $-7.9M | ||
| Q3 24 | — | $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 | — | 8.7% | ||
| Q2 24 | — | 34.5% | ||
| Q1 24 | — | 5.4% |
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 1.3% |
| Q4 25 | — | 3.66× | ||
| Q3 25 | — | -1.63× | ||
| Q2 25 | — | -3.39× | ||
| Q1 25 | 28.70× | 0.09× | ||
| Q4 24 | — | -1.12× | ||
| Q3 24 | — | 1.77× | ||
| Q2 24 | 1.18× | 1.04× | ||
| Q1 24 | — | 0.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NLOP
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% |
