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Side-by-side financial comparison of SBC Medical Group Holdings Inc (SBC) and Spok Holdings, Inc (SPOK). 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 $33.9M, roughly 1.2× Spok Holdings, Inc). SBC Medical Group Holdings Inc runs the higher net margin — 35.9% vs 8.7%, a 27.2% gap on every dollar of revenue. On growth, Spok Holdings, Inc posted the faster year-over-year revenue change (-0.1% vs -10.9%). SBC Medical Group Holdings Inc produced more free cash flow last quarter ($51.2M vs $10.1M). Over the past eight quarters, Spok Holdings, Inc's revenue compounded faster (-1.5% CAGR vs -15.0%).
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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
SBC vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $39.6M | $33.9M |
| Net Profit | $14.2M | $2.9M |
| Gross Margin | 73.1% | 76.7% |
| Operating Margin | 32.5% | 11.6% |
| Net Margin | 35.9% | 8.7% |
| Revenue YoY | -10.9% | -0.1% |
| Net Profit YoY | 117.2% | -19.6% |
| EPS (diluted) | $0.15 | $0.13 |
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 | $39.6M | $33.9M | ||
| Q3 25 | $43.4M | $33.9M | ||
| Q2 25 | $43.4M | $35.7M | ||
| Q1 25 | $47.3M | $36.3M | ||
| Q4 24 | $44.4M | $33.9M | ||
| Q3 24 | $53.1M | $34.9M | ||
| Q2 24 | $53.1M | $34.0M | ||
| Q1 24 | $54.8M | $34.9M |
| Q4 25 | $14.2M | $2.9M | ||
| Q3 25 | $12.8M | $3.2M | ||
| Q2 25 | $2.5M | $4.6M | ||
| Q1 25 | $21.5M | $5.2M | ||
| Q4 24 | $6.5M | $3.6M | ||
| Q3 24 | $2.8M | $3.7M | ||
| Q2 24 | $18.5M | $3.4M | ||
| Q1 24 | $18.8M | $4.2M |
| Q4 25 | 73.1% | 76.7% | ||
| Q3 25 | 70.6% | 78.3% | ||
| Q2 25 | 69.2% | 79.5% | ||
| Q1 25 | 79.7% | 80.1% | ||
| Q4 24 | 76.3% | 78.5% | ||
| Q3 24 | 81.5% | 79.5% | ||
| Q2 24 | 74.2% | 78.9% | ||
| Q1 24 | 72.1% | 79.5% |
| Q4 25 | 32.5% | 11.6% | ||
| Q3 25 | 36.6% | 12.9% | ||
| Q2 25 | 33.6% | 15.1% | ||
| Q1 25 | 51.1% | 16.6% | ||
| Q4 24 | 10.6% | 13.7% | ||
| Q3 24 | 26.1% | 14.2% | ||
| Q2 24 | 51.4% | 13.2% | ||
| Q1 24 | 44.6% | 14.0% |
| Q4 25 | 35.9% | 8.7% | ||
| Q3 25 | 29.6% | 9.5% | ||
| Q2 25 | 5.7% | 12.8% | ||
| Q1 25 | 45.4% | 14.3% | ||
| Q4 24 | 14.7% | 10.8% | ||
| Q3 24 | 5.3% | 10.5% | ||
| Q2 24 | 34.8% | 10.1% | ||
| Q1 24 | 34.2% | 12.1% |
| Q4 25 | $0.15 | $0.13 | ||
| Q3 25 | $0.12 | $0.15 | ||
| Q2 25 | $0.02 | $0.22 | ||
| Q1 25 | $0.21 | $0.25 | ||
| Q4 24 | $0.05 | $0.17 | ||
| Q3 24 | $0.03 | $0.18 | ||
| Q2 24 | $0.20 | $0.17 | ||
| Q1 24 | $0.20 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | $42.8M | — |
| Stockholders' EquityBook value | $248.3M | $146.4M |
| Total Assets | $380.4M | $206.1M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $164.1M | $25.3M | ||
| Q3 25 | $127.4M | $21.4M | ||
| Q2 25 | $152.7M | $20.2M | ||
| Q1 25 | $132.1M | $19.9M | ||
| Q4 24 | $125.0M | $29.1M | ||
| Q3 24 | $137.4M | $27.8M | ||
| Q2 24 | — | $23.9M | ||
| Q1 24 | — | $23.3M |
| 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 | $248.3M | $146.4M | ||
| Q3 25 | $248.0M | $148.7M | ||
| Q2 25 | $244.6M | $150.9M | ||
| Q1 25 | $226.4M | $151.7M | ||
| Q4 24 | $195.1M | $154.7M | ||
| Q3 24 | $205.0M | $156.3M | ||
| Q2 24 | $8.8M | $158.2M | ||
| Q1 24 | $9.0M | $160.2M |
| Q4 25 | $380.4M | $206.1M | ||
| Q3 25 | $321.4M | $209.7M | ||
| Q2 25 | $315.3M | $208.7M | ||
| Q1 25 | $284.6M | $204.5M | ||
| Q4 24 | $266.1M | $217.1M | ||
| Q3 24 | $296.5M | $216.8M | ||
| Q2 24 | $19.5M | $216.4M | ||
| Q1 24 | $19.8M | $215.0M |
| 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 | $52.0M | $11.5M |
| Free Cash FlowOCF − Capex | $51.2M | $10.1M |
| FCF MarginFCF / Revenue | 129.3% | 29.9% |
| Capex IntensityCapex / Revenue | 2.0% | 4.1% |
| Cash ConversionOCF / Net Profit | 3.66× | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | $23.3M | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.0M | $11.5M | ||
| Q3 25 | $-20.9M | $8.1M | ||
| Q2 25 | $-8.3M | $7.0M | ||
| Q1 25 | $1.9M | $2.3M | ||
| Q4 24 | $-7.3M | $8.4M | ||
| Q3 24 | $5.0M | $11.1M | ||
| Q2 24 | $19.2M | $7.4M | ||
| Q1 24 | $3.7M | $2.0M |
| Q4 25 | $51.2M | $10.1M | ||
| Q3 25 | $-20.9M | $7.6M | ||
| Q2 25 | $-8.6M | $6.0M | ||
| Q1 25 | $1.7M | $1.5M | ||
| Q4 24 | $-7.9M | $7.5M | ||
| Q3 24 | $4.6M | $10.3M | ||
| Q2 24 | $18.3M | $6.8M | ||
| Q1 24 | $3.0M | $1.1M |
| Q4 25 | 129.3% | 29.9% | ||
| Q3 25 | -48.3% | 22.4% | ||
| Q2 25 | -19.9% | 16.8% | ||
| Q1 25 | 3.5% | 4.2% | ||
| Q4 24 | -17.8% | 22.3% | ||
| Q3 24 | 8.7% | 29.4% | ||
| Q2 24 | 34.5% | 20.0% | ||
| Q1 24 | 5.4% | 3.2% |
| Q4 25 | 2.0% | 4.1% | ||
| Q3 25 | 0.1% | 1.6% | ||
| Q2 25 | 0.7% | 2.9% | ||
| Q1 25 | 0.5% | 2.1% | ||
| Q4 24 | 1.3% | 2.5% | ||
| Q3 24 | 0.8% | 2.4% | ||
| Q2 24 | 1.6% | 1.9% | ||
| Q1 24 | 1.3% | 2.5% |
| Q4 25 | 3.66× | 3.93× | ||
| Q3 25 | -1.63× | 2.54× | ||
| Q2 25 | -3.39× | 1.55× | ||
| Q1 25 | 0.09× | 0.43× | ||
| Q4 24 | -1.12× | 2.31× | ||
| Q3 24 | 1.77× | 3.03× | ||
| Q2 24 | 1.04× | 2.17× | ||
| Q1 24 | 0.20× | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
