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Side-by-side financial comparison of PETMED EXPRESS INC (PETS) and SBC Medical Group Holdings Inc (SBC). Click either name above to swap in a different company.
PETMED EXPRESS INC is the larger business by last-quarter revenue ($40.7M vs $39.6M, roughly 1.0× SBC Medical Group Holdings Inc). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs -26.0%, a 61.8% gap on every dollar of revenue. On growth, SBC Medical Group Holdings Inc posted the faster year-over-year revenue change (-10.9% vs -23.3%). SBC Medical Group Holdings Inc produced more free cash flow last quarter ($51.2M vs $-9.2M). Over the past eight quarters, SBC Medical Group Holdings Inc's revenue compounded faster (-15.0% CAGR vs -20.9%).
PetMed Express, Inc., also known as PetMeds, is an online pet pharmacy based in the United States. It is publicly traded and sells prescription and non-prescription pet medication.
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.
PETS vs SBC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.7M | $39.6M |
| Net Profit | $-10.6M | $14.2M |
| Gross Margin | 23.3% | 73.1% |
| Operating Margin | -25.7% | 32.5% |
| Net Margin | -26.0% | 35.9% |
| Revenue YoY | -23.3% | -10.9% |
| Net Profit YoY | -1392.6% | 117.2% |
| EPS (diluted) | $-0.50 | $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 | $40.7M | $39.6M | ||
| Q3 25 | $44.4M | $43.4M | ||
| Q2 25 | $51.2M | $43.4M | ||
| Q1 25 | $50.8M | $47.3M | ||
| Q4 24 | $52.0M | $44.4M | ||
| Q3 24 | $58.0M | $53.1M | ||
| Q2 24 | $66.2M | $53.1M | ||
| Q1 24 | $65.1M | $54.8M |
| Q4 25 | $-10.6M | $14.2M | ||
| Q3 25 | $-8.5M | $12.8M | ||
| Q2 25 | $-34.2M | $2.5M | ||
| Q1 25 | $-11.6M | $21.5M | ||
| Q4 24 | $-707.0K | $6.5M | ||
| Q3 24 | $2.3M | $2.8M | ||
| Q2 24 | $3.8M | $18.5M | ||
| Q1 24 | $-5.0M | $18.8M |
| Q4 25 | 23.3% | 73.1% | ||
| Q3 25 | 28.0% | 70.6% | ||
| Q2 25 | 28.1% | 69.2% | ||
| Q1 25 | 29.9% | 79.7% | ||
| Q4 24 | 31.0% | 76.3% | ||
| Q3 24 | 32.3% | 81.5% | ||
| Q2 24 | 28.8% | 74.2% | ||
| Q1 24 | 29.3% | 72.1% |
| Q4 25 | -25.7% | 32.5% | ||
| Q3 25 | -18.9% | 36.6% | ||
| Q2 25 | -66.7% | 33.6% | ||
| Q1 25 | -11.9% | 51.1% | ||
| Q4 24 | -0.9% | 10.6% | ||
| Q3 24 | 1.0% | 26.1% | ||
| Q2 24 | 6.6% | 51.4% | ||
| Q1 24 | -5.9% | 44.6% |
| Q4 25 | -26.0% | 35.9% | ||
| Q3 25 | -19.2% | 29.6% | ||
| Q2 25 | -66.7% | 5.7% | ||
| Q1 25 | -22.9% | 45.4% | ||
| Q4 24 | -1.4% | 14.7% | ||
| Q3 24 | 4.0% | 5.3% | ||
| Q2 24 | 5.7% | 34.8% | ||
| Q1 24 | -7.7% | 34.2% |
| Q4 25 | $-0.50 | $0.15 | ||
| Q3 25 | $-0.41 | $0.12 | ||
| Q2 25 | $-1.65 | $0.02 | ||
| Q1 25 | $-0.56 | $0.21 | ||
| Q4 24 | $-0.03 | $0.05 | ||
| Q3 24 | $0.11 | $0.03 | ||
| Q2 24 | $0.18 | $0.20 | ||
| Q1 24 | $-0.24 | $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 | $26.9M | $164.1M |
| Total DebtLower is stronger | — | $42.8M |
| Stockholders' EquityBook value | $32.8M | $248.3M |
| Total Assets | $88.0M | $380.4M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.9M | $164.1M | ||
| Q3 25 | $36.1M | $127.4M | ||
| Q2 25 | $41.1M | $152.7M | ||
| Q1 25 | $54.7M | $132.1M | ||
| Q4 24 | $50.1M | $125.0M | ||
| Q3 24 | $52.0M | $137.4M | ||
| Q2 24 | $46.0M | — | ||
| Q1 24 | $55.3M | — |
| 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 | $32.8M | $248.3M | ||
| Q3 25 | $43.1M | $248.0M | ||
| Q2 25 | $51.5M | $244.6M | ||
| Q1 25 | $85.1M | $226.4M | ||
| Q4 24 | $96.2M | $195.1M | ||
| Q3 24 | $96.4M | $205.0M | ||
| Q2 24 | $93.5M | $8.8M | ||
| Q1 24 | $96.7M | $9.0M |
| Q4 25 | $88.0M | $380.4M | ||
| Q3 25 | $100.3M | $321.4M | ||
| Q2 25 | $109.8M | $315.3M | ||
| Q1 25 | $148.7M | $284.6M | ||
| Q4 24 | $144.8M | $266.1M | ||
| Q3 24 | $146.0M | $296.5M | ||
| Q2 24 | $152.7M | $19.5M | ||
| Q1 24 | $169.9M | $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 | $-9.2M | $52.0M |
| Free Cash FlowOCF − Capex | $-9.2M | $51.2M |
| FCF MarginFCF / Revenue | -22.7% | 129.3% |
| Capex IntensityCapex / Revenue | 0.1% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 3.66× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.0M | $23.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.2M | $52.0M | ||
| Q3 25 | $-2.2M | $-20.9M | ||
| Q2 25 | $-12.3M | $-8.3M | ||
| Q1 25 | $7.0M | $1.9M | ||
| Q4 24 | $-1.2M | $-7.3M | ||
| Q3 24 | $7.4M | $5.0M | ||
| Q2 24 | $-8.5M | $19.2M | ||
| Q1 24 | $7.1M | $3.7M |
| Q4 25 | $-9.2M | $51.2M | ||
| Q3 25 | $-4.8M | $-20.9M | ||
| Q2 25 | $-13.6M | $-8.6M | ||
| Q1 25 | $4.6M | $1.7M | ||
| Q4 24 | $-1.9M | $-7.9M | ||
| Q3 24 | $6.1M | $4.6M | ||
| Q2 24 | $-9.2M | $18.3M | ||
| Q1 24 | $5.9M | $3.0M |
| Q4 25 | -22.7% | 129.3% | ||
| Q3 25 | -10.8% | -48.3% | ||
| Q2 25 | -26.5% | -19.9% | ||
| Q1 25 | 9.1% | 3.5% | ||
| Q4 24 | -3.7% | -17.8% | ||
| Q3 24 | 10.6% | 8.7% | ||
| Q2 24 | -13.9% | 34.5% | ||
| Q1 24 | 9.0% | 5.4% |
| Q4 25 | 0.1% | 2.0% | ||
| Q3 25 | 5.9% | 0.1% | ||
| Q2 25 | 2.5% | 0.7% | ||
| Q1 25 | 4.7% | 0.5% | ||
| Q4 24 | 1.5% | 1.3% | ||
| Q3 24 | 2.2% | 0.8% | ||
| Q2 24 | 1.0% | 1.6% | ||
| Q1 24 | 1.9% | 1.3% |
| Q4 25 | — | 3.66× | ||
| Q3 25 | — | -1.63× | ||
| Q2 25 | — | -3.39× | ||
| Q1 25 | — | 0.09× | ||
| Q4 24 | — | -1.12× | ||
| Q3 24 | 3.18× | 1.77× | ||
| Q2 24 | -2.27× | 1.04× | ||
| Q1 24 | — | 0.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PETS
| Reorder | $34.0M | 84% |
| New Order | $5.0M | 12% |
| Membership Fees | $1.6M | 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% |
