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Side-by-side financial comparison of NETSTREIT Corp. (NTST) and SBC Medical Group Holdings Inc (SBC). Click either name above to swap in a different company.
NETSTREIT Corp. is the larger business by last-quarter revenue ($57.1M vs $39.6M, roughly 1.4× SBC Medical Group Holdings Inc). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs 10.0%, a 25.9% gap on every dollar of revenue. On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs -10.9%). Over the past eight quarters, NETSTREIT Corp.'s revenue compounded faster (20.1% CAGR vs -15.0%).
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
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.
NTST vs SBC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.1M | $39.6M |
| Net Profit | $5.7M | $14.2M |
| Gross Margin | — | 73.1% |
| Operating Margin | 34.1% | 32.5% |
| Net Margin | 10.0% | 35.9% |
| Revenue YoY | 24.3% | -10.9% |
| Net Profit YoY | 235.9% | 117.2% |
| EPS (diluted) | $0.32 | $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.
| Q1 26 | $57.1M | — | ||
| Q4 25 | $52.5M | $39.6M | ||
| Q3 25 | $48.3M | $43.4M | ||
| Q2 25 | $48.3M | $43.4M | ||
| Q1 25 | $45.9M | $47.3M | ||
| Q4 24 | $44.1M | $44.4M | ||
| Q3 24 | $41.4M | $53.1M | ||
| Q2 24 | $39.6M | $53.1M |
| Q1 26 | $5.7M | — | ||
| Q4 25 | $1.3M | $14.2M | ||
| Q3 25 | $618.0K | $12.8M | ||
| Q2 25 | $3.3M | $2.5M | ||
| Q1 25 | $1.7M | $21.5M | ||
| Q4 24 | $-5.4M | $6.5M | ||
| Q3 24 | $-5.3M | $2.8M | ||
| Q2 24 | $-2.3M | $18.5M |
| Q1 26 | — | — | ||
| 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 26 | 34.1% | — | ||
| Q4 25 | 2.6% | 32.5% | ||
| Q3 25 | 1.3% | 36.6% | ||
| Q2 25 | 6.8% | 33.6% | ||
| Q1 25 | 3.7% | 51.1% | ||
| Q4 24 | -12.3% | 10.6% | ||
| Q3 24 | -12.8% | 26.1% | ||
| Q2 24 | -5.8% | 51.4% |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 2.5% | 35.9% | ||
| Q3 25 | 1.3% | 29.6% | ||
| Q2 25 | 6.8% | 5.7% | ||
| Q1 25 | 3.7% | 45.4% | ||
| Q4 24 | -12.3% | 14.7% | ||
| Q3 24 | -12.8% | 5.3% | ||
| Q2 24 | -5.8% | 34.8% |
| Q1 26 | $0.32 | — | ||
| Q4 25 | $0.01 | $0.15 | ||
| Q3 25 | $0.01 | $0.12 | ||
| Q2 25 | $0.04 | $0.02 | ||
| Q1 25 | $0.02 | $0.21 | ||
| Q4 24 | $-0.07 | $0.05 | ||
| Q3 24 | $-0.07 | $0.03 | ||
| Q2 24 | $-0.03 | $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 | — | $164.1M |
| Total DebtLower is stronger | — | $42.8M |
| Stockholders' EquityBook value | $1.5B | $248.3M |
| Total Assets | $2.8B | $380.4M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $164.1M | ||
| Q3 25 | — | $127.4M | ||
| Q2 25 | — | $152.7M | ||
| Q1 25 | — | $132.1M | ||
| Q4 24 | — | $125.0M | ||
| Q3 24 | — | $137.4M | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $42.8M | ||
| Q3 25 | $1.1B | $21.1M | ||
| Q2 25 | $926.6M | $7.1M | ||
| Q1 25 | $913.3M | $6.9M | ||
| Q4 24 | $868.3M | $6.6M | ||
| Q3 24 | $778.7M | $823.2K | ||
| Q2 24 | $726.2M | — |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.4B | $248.3M | ||
| Q3 25 | $1.3B | $248.0M | ||
| Q2 25 | $1.3B | $244.6M | ||
| Q1 25 | $1.3B | $226.4M | ||
| Q4 24 | $1.3B | $195.1M | ||
| Q3 24 | $1.3B | $205.0M | ||
| Q2 24 | $1.3B | $8.8M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.6B | $380.4M | ||
| Q3 25 | $2.5B | $321.4M | ||
| Q2 25 | $2.3B | $315.3M | ||
| Q1 25 | $2.3B | $284.6M | ||
| Q4 24 | $2.3B | $266.1M | ||
| Q3 24 | $2.2B | $296.5M | ||
| Q2 24 | $2.1B | $19.5M |
| Q1 26 | — | — | ||
| Q4 25 | 0.76× | 0.17× | ||
| Q3 25 | 0.84× | 0.09× | ||
| Q2 25 | 0.70× | 0.03× | ||
| Q1 25 | 0.70× | 0.03× | ||
| Q4 24 | 0.65× | 0.03× | ||
| Q3 24 | 0.58× | 0.00× | ||
| Q2 24 | 0.55× | — |
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 | — | $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.
| Q1 26 | — | — | ||
| Q4 25 | $109.5M | $52.0M | ||
| Q3 25 | $28.0M | $-20.9M | ||
| Q2 25 | $30.6M | $-8.3M | ||
| Q1 25 | $22.1M | $1.9M | ||
| Q4 24 | $90.2M | $-7.3M | ||
| Q3 24 | $25.1M | $5.0M | ||
| Q2 24 | $25.4M | $19.2M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 82.46× | 3.66× | ||
| Q3 25 | 45.27× | -1.63× | ||
| Q2 25 | 9.36× | -3.39× | ||
| Q1 25 | 13.06× | 0.09× | ||
| Q4 24 | — | -1.12× | ||
| Q3 24 | — | 1.77× | ||
| Q2 24 | — | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
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% |
